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Thread: Daily Market Roundup from FXCC

  1. #91

    Default Forex Technical & Market Analysis FXCC Oct 01 2013

    Forex Technical & Market Analysis FXCC Oct 01 2013

    The US government shutdown - truth or dare

    Early in the overnight/early morning session we'll have received the RBA decision regarding the base rate for Australia, this will be accompanied by a statement concerning the decision, which is expected to keep the current rate at 2.5%. The U.S. government looks set for its first partial shutdown in over 17 years, with no signs of compromise from the Congress or the White House. The U.S. has had 17 funding gaps from 1977 to 1996. In 1995 and 1996, interruptions lasted from Nov 14th to Nov 19th and from Dec 16th to Jan 6th, as Republicans led by House Speaker Newt Gingrich clashed with President Bill Clinton. Equity index futures are down on the USA equity markets, the DJIA equity index future is down 0.98 at the time of writing, leaving the index at 15046, very close to the critical 15,000 level. SPX equity index future is down 0.62%. European equity index futures are mainly in the red, STOXX down 0.9%, FTSE down 0.79% and the DAX down 0.87%. The U.S. Dollar Index, tracking the performance of a basket of the 10 leading global currencies versus the dollar, fell for a second trading-day, declining by 0.1 percent to 1,011.85 late in the New York session, after weakening by as much as 0.2 percent. The yen was little changed at 98.30 per dollar after touching 97.50, the strongest level since Aug 29th. Japan’s currency fell 0.1 percent to 132.93 versus the euro after appreciating to 131.38, the strongest level witnessed since Sept 9th. The euro was little changed at $1.3527.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-01 09:00 GMT | EU.EMU Unemployment Rate (Aug)
    2013-10-01 12:58 GMT | US. Markit Manufacturing PMI (Oct)
    2013-10-01 14:00 GMT | US. Construction Spending (MoM) (Aug)
    2013-10-01 14:00 GMT | US. ISM Manufacturing PMI (Sep)

    FOREX NEWS :
    2013-10-01 05:18 GMT | AUD/JPY continues short-term upside following Aussie rate decision and comments
    2013-10-01 04:39 GMT | EUR/USD eyes 1.3550 as shutdown kicks in
    2013-10-01 04:31 GMT | USD/JPY slipping and sliding now that US government shutdown is a reality
    2013-10-01 04:01 GMT | GBP/USD is spiking as the Senate votes down the House spending bill

    ---------------------
    EURUSD :
    HIGH 1.35519 LOW 1.35174 BID 1.35448 ASK 1.35452 CHANGE 0.14% TIME 08 : 24:34



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Sideway
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Next resistance level is seen at 1.3555 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3578 (R2) and 1.3600 (R3) in potential. Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 1.3517 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 1.3472 (S2) and 1.3435 (S3).

    Resistance Levels: 1.3555, 1.3578, 1.3600
    Support Levels: 1.3517, 1.3472, 1.3435

    --------------------
    GBPUSD :
    HIGH 1.62465 LOW 1.61823 BID 1.62370 ASK 1.62374 CHANGE 0.32% TIME 08 : 24:35



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Up trend
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: The local peak at 1.6247 (R1) offers an important resistive level. Any penetration above it might shift the balance to the bullish side and validate our intraday targets at 1.6279 (R2) and 1.6308 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.6207 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.6180 (S2) and 1.6139 (S3).

    Resistance Levels: 1.6247, 1.6279, 1.6308
    Support Levels: 1.6207, 1.6180, 1.6139

    ---------------------------
    USDJPY :
    HIGH 98.728 LOW 98.031 BID 98.124 ASK 98.129 CHANGE -0.09% TIME 08 : 24:36



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Down trend
    TRADERS SENTIMENT : Neutral
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Break above the next resistance level at 98.56 (R1) is required to generate upside action and trigger our intraday targets at 98.81 (R2) and 99.05 (R3). Downwards scenario: Further correction development is limited now to the session low - 97.95 (S1). If the price manages to surpass it we would suggest next intraday targets at 97.63 (S2) and 97.30 (S3).

    Resistance Levels: 98.56, 98.81, 99.05
    Support Levels: 97.95, 97.63, 97.30

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  2. #92

    Default Forex Technical & Market Analysis FXCC Oct 02 2013

    Forex Technical & Market Analysis FXCC Oct 02 2013

    Ben Bernanke may delay taper if shut down impasse continues

    The Swiss franc appears to have become the safe haven currency of choice during the USA partial govt. shutdown. The Swiss franc rose to its highest level versus the dollar in nineteen months as a partial shutdown of the U.S. government increased demand for Switzerland’s currency as a safe haven currency. The franc is typically sought by investors seeking safety at times of heightened global stress and it climbed versus all but two of its 16 major currency peers during Tuesday's trading sessions. Versus the USD it strengthened through 90 cents per dollar for the first time since Feb. 29, 2012. The Swiss currency rose 0.3 percent to 90.23 centimes per dollar at 10:50 a.m. in Zurich, after rising to as much as 89.93 centimes. Versus the euro it was little changed at 1.2225. The dollar traded at close to its lowest level seen since February as the partial shutdown of the U.S. government increased speculation that the Federal Reserve will persevere with its asset purchases, therefore weakening the currency. The U.S. currency was little changed at $1.3526 per euro after depreciating to $1.3588, the weakest level seen since Feb 6th. The yen gained by 0.3 percent to 98 per dollar and climbed 0.3 percent to 132.55 per euro.

    FOREX ECONOMIC CALENDAR :
    2013-10-02 11:45 GMT | ECB Interest Rate Decision
    2013-10-02 12:30 GMT | ECB Monetary policy statement and press conference
    2013-10-02 19:30 GMT | US Fed's Bernanke Speech
    2013-10-02 23:50 GMT | JP Foreign investment in Japan stocks

    FOREX NEWS :
    2013-10-02 04:48 GMT | EUR/USD sitting on the fence ahead of ECB
    2013-10-02 04:11 GMT | GBP/AUD soars on dismal AUD data
    2013-10-02 03:46 GMT | RBA next rate cut delayed till February - NAB
    2013-10-02 03:12 GMT | Japan’s the black sheep among winning indexes in Asia


    EURUSD :
    HIGH 1.35282 LOW 1.35074 BID 1.35240 ASK 1.35244 CHANGE -0.01% TIME 08 : 32:56



    OUTLOOK SUMMARY : Neutral
    TREND CONDITION : Sideway
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : High

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Fractals level at 1.3536 (R1) offers a key resistive measure on the upside. Break here is required to enable bullish pressure and validate next target at 1.3551 (R2). Final support for today locates at 1.3566 (R3). Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3506 (S1). Penetration below this mark would suggest next targets at 1.3491 (S2) and 1.3475 (S3).

    Resistance Levels: 1.3536, 1.3551, 1.3566
    Support Levels: 1.3506, 1.3491, 1.3475

    ----------------------------
    GBPUSD :
    HIGH 1.62001 LOW 1.61625 BID 1.61790 ASK 1.61795 CHANGE -0.1% TIME 08 : 32:57



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : High

    Upwards scenario: Possible upwards extension above the resistance level at 1.6210 (R1) is liable to commence medium-term bullish structure. Important fractal levels offers next targets at 1.6238 (R2) and 1.6265 (R3) in potential. Downwards scenario: Risk of further correction expansion is seen below the support barrier at 1.6158 (S1). Break here is required to enable our intraday targets at 1.6130 (S2) and 1.6103 (S3) on the downside.

    Resistance Levels: 1.6210, 1.6238, 1.6265
    Support Levels: 1.6158, 1.6130, 1.6103

    ----------------------
    USDJPY :
    HIGH 98.085 LOW 97.639 BID 97.648 ASK 97.651 CHANGE -0.37% TIME 08 : 32:57



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : High

    Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 98.09 (R1) is required to push the price towards to our next visible targets at 98.33 (R2) and 98.56 (R3). Downwards scenario: As long as price stays below the moving averages our short-term outlook would be negative. Possible extension lower the 97.50 (S1) is being able to drive market price towards to initial supports at 97.25 (S2) and 97.01 (S3).

    Resistance Levels: 98.09, 98.33, 98.56
    Support Levels: 97.50, 97.25, 97.01

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  3. #93

    Default Forex Technical & Market Analysis FXCC Oct 03 2013

    Forex Technical & Market Analysis FXCC Oct 03 2013

    EUR/USD explodes to 1.3624, 8-month peaks

    The European Central Bank President Mario Draghi stated on Wednesday that he’ll take any necessary measures to keep the money-market rates in check as he guides Europe’s banks through their early stages of the economic recovery. Draghi stated; “We’ll remain particularly attentive to developments which may have implications to monetary policy and consider all available instruments. We have a vast array of instruments to this extent and we exclude no option in order to address the needs as is most appropriate.” The euro advanced 0.4 percent to $1.3586 late in the New York session, reaching the biggest one-day gain since Sept 18th. The 17 nation shared single currency was 0.2 percent weaker at 132.28 yen after falling as much as 0.9 percent. The yen strengthened 0.6 percent to 97.39 per dollar. The euro strengthened the most in two weeks versus the dollar after European Central Bank President Mario Draghi refrained from signaling that additional measures were needed to boost the region’s recovery.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-03 07:53 GMT | DE Markit Services PMI (Sep)
    2013-10-03 07:58 GMT | EMU Markit Services PMI (Sep)
    2013-10-03 09:00 GMT | EMU Retail Sales (YoY) (Aug)
    N/A | US Initial Jobless Claims (Sep 27)

    FOREX NEWS :
    2013-10-03 05:36 GMT | EUR/GBP slightly upwards ahead of crucial UK,EZ data
    2013-10-03 05:06 GMT | GBP/USD sits on the fence ahead of UK PMI Services data
    2013-10-03 02:16 GMT | EUR/USD triggers stops 1.36+, JPY on the slide
    2013-10-03 02:00 GMT | USD/JPY retracing from 97.70 session highs

    -----------------
    EURUSD :
    HIGH 1.36232 LOW 1.35775 BID 1.36065 ASK 1.36069 CHANGE 0.22% TIME 08 : 39:59



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Current price setup might suggest uptrend development in near term perspective. If the price manages to surpass our resistive measure at 1.3623 (R1), we would suggest next targets at 1.3644 (R2) and 1.3665 (R3). Downwards scenario: On the other side, a dip lower the key support measure at 1.3575 (S1) would open a route towards to lower targets at 1.3555 (S2) and 1.3535 (S3).

    Resistance Levels: 1.3623, 1.3644, 1.3665
    Support Levels: 1.3575, 1.3555, 1.3535

    ------------------
    GBPUSD :
    HIGH 1.62409 LOW 1.62206 BID 1.62329 ASK 1.62335 CHANGE 0.07% TIME 08 : 39:59



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: A bullish oriented market participant might pressures to test our next resistance level at 1.6261 (R1). Loss here could open a route towards to our interim target at 1.6292 (R2) and the main aim for today locates at 1.6323 (R3). Downwards scenario: Risk of possible price regress is seen below the support level at 1.6202 (S1). Break here would suggest lower targets at 1.6170 (S2) and 1.6139 (S3) in potential.

    Resistance Levels: 1.6261, 1.6292, 1.6323
    Support Levels: 1.6202, 1.6170, 1.6139

    -------------------------
    USDJPY :
    HIGH 97.784 LOW 97.251 BID 97.700 ASK 97.702 CHANGE 0.36% TIME 08 : 40:00



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Market commenced recovery phase from the initial downtrend formation. Clearance of our next resistive barrier at 98.05 (R1) would suggest next intraday targets at 98.32 (R2) and 98.59 (R3) in potential. Downwards scenario: Further downside extension might face next supportive barrier at 97.53 (S1). Clearance here is required to open the way towards to interim target at 97.25 (S2) and any further price regress would then be targeting 96.98 (S3).

    Resistance Levels: 98.05, 98.32, 98.59
    Support Levels: 97.53, 97.25, 96.98

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  4. #94

    Default Forex Technical & Market Analysis FXCC Oct 04 2013

    Forex Technical & Market Analysis FXCC Oct 04 2013

    US interest rates could skyrocket

    Due to the govt. shutdown there will be no NFP number printed by the BLS on Friday. Two FOMC members hold court in the afternoon session, once again, despite the turmoil in govt. due to the shutdown, investors will be looking for clues with regards to potential tapering of the Fed's $85 billion per month asset purchase scheme. The US Treasury warned on Thursday that the budget impasse between the Republicans and Democrats in Washington risked plunging the world's biggest economy into its worst slump since the Great Depression; "A default would be unprecedented and has the potential to be catastrophic. Credit markets could freeze, the value of the dollar could plummet, US interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse."
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2011-08-10 06:00 GMT | DE Producer Price Index (MoM) (Aug)
    2011-08-10 09:00 GMT | EMU Producer Price Index (YoY) (Aug)
    2011-08-10 14:00 GMT | CA Ivey Purchasing Managers Index (Sep)
    2011-08-10 17:45 GMT | US Fed Minneapolis's Narayana Kocherlakota speech

    FOREX NEWS :
    2013-10-04 05:49 GMT | Asian bourses closing on the down side
    2013-10-04 04:19 GMT | EUR/GBP sails its way down to 0.8423 session lows
    2013-10-04 04:06 GMT | AUD/USD remains resilient amidst a poor risk-off environment
    2013-10-04 03:35 GMT | EUR/USD losing momentum? Gains wiped out

    -----------------
    EURUSD
    HIGH 1.36317 LOW 1.36183 BID 1.36259 ASK 1.36263 CHANGE 0.05% TIME 08 : 40:02



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Up trend
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: On the upside EURUSD is limited to the next resistive barrier at 1.3646 (R1). If the price manages to surpass this mark we would suggest next intraday targets at 1.3668 (R2) and 1.3690 (R3). Downwards scenario: Our next support level is placed at important technical level- 1.3607 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial targets at 1.3584 (S2) and 1.3561 (S3) in potential.

    Resistance Levels: 1.3646, 1.3668, 1.3690
    Support Levels: 1.3607, 1.3584, 1.3561

    ---------------------
    GBPUSD :
    HIGH 1.61779 LOW 1.61532 BID 1.61721 ASK 1.61726 CHANGE 0.1% TIME 08:40:03



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: On the upside potential is seen for a break above the resistance at 1.6187 (R1). In such case we would suggest next target at 1.6215 (R2) and any further rise would then be limited to final resistance at 1.6241 (R3). Downwards scenario: Medium term bias is clearly positive however we expect recovery action if the price manages to overcome key supportive bastion at 1.6150 (S1). In such case we would suggest next intraday targets at 1.6125 (S2) and 1.6099 (S3).

    Resistance Levels: 1.6187, 1.6215, 1.6241
    Support Levels: 1.6150, 1.6125, 1.6099

    ------------------
    USDJPY :
    HIGH 97.403 LOW 97.034 BID 97.111 ASK 97.113 CHANGE -0.15% TIME 08 : 40:04



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Down trend
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Mark at 97.50 (R1) acts as next resistive barrier on the way if the pair commence recovery phase. Break here is required to achieve higher targets at 97.80 (R2) and 98.10 (R3) later on today. Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 96.92 (S1). Loss here would suggest to monitor marks at 96.62 (S2) and 96.33 (S3) as possible intraday targets.

    Resistance Levels: 97.50, 97.80, 98.10
    Support Levels: 96.92, 96.62, 96.33

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  5. #95

    Default Forex Technical & Market Analysis FXCC Oct 07 2013

    Forex Technical & Market Analysis FXCC Oct 07 2013

    Yen rises versus major peers early in the Asian session

    There were no significant breaks or gaps to the upside or downside as the FX markets opened on Sunday evening. Yen made a modest rise versus the majority of its peers, but at the time of writing had failed to penetrate the significant resistance or support levels. The dollar fell for a fifth week last week, the longest stretch the greenback has experienced such a fall since April 2011, due to Congress failing to agree on a route forward to raise the $16.7 trillion U.S. debt limit, encouraging investors to seek other safe haven assets. The U.S. Dollar Index, tracking the greenback versus its 10 major peer currencies, declined by 0.3 percent last week, (the most in two weeks), to 1,009.98 in New York at the close on Friday. The dollar fell 0.8 percent to 97.48 yen, the third weekly drop. It touched 96.93, the lowest since Aug. 28th. The U.S. currency weakened by 0.3 percent to $1.3558 per euro. The yen strengthened 0.5 percent to 132.14 per euro. Sterling fell by the most last week in the dollar’s 16 most-traded peers, after reaching a nine-month high, the sell off was due to speculation that the U.K. economic recovery isn’t strong enough to warrant the early interest-rate increase the BoE governor Mark Carney had mentioned in earlier press conferences.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-07 08:30 GMT | EMU Sentix Investor Confidence (Oct)
    2013-10-07 12:30 GMT | CA Building Permits (MoM) (Aug)
    2013-10-07 19:00 GMT | US Consumer Credit Change (Aug)
    2013-10-07 23:50 GMT | Trade Balance - BOP Basis (Aug)

    FOREX NEWS :
    2013-10-07 05:18 GMT | Asian bourses fall sharply due to US political “jitters”
    2013-10-07 04:49 GMT | AUD/USD trading in the upper level ignoring US political “woes”
    2013-10-07 03:49 GMT | USD a tad weaker as US shutdown set to extend
    2013-10-07 02:37 GMT | EURUSD - Uptrend intact but latest pullbacks raises some concerns - 2ndSkies

    ----------------
    EURUSD :
    HIGH 1.35742 LOW 1.35609 BID 1.35680 ASK 1.35685 CHANGE 0.09% TIME 08 : 45:02



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Next barrier on the upside lies at 1.3579 (R1). Surpassing of this level might enable our initial target at 1.3594 (R2) and any further gains would then be limited to last resistive structure at 1.3609 (R3). Downwards scenario: Positive clearance of our key support level at 1.3538 (S1) would enable next target at 1.3523 (S2) en route to our final support for today at 1.3508 (S3).

    Resistance Levels: 1.3579, 1.3594, 1.3609
    Support Levels: 1.3538, 1.3523, 1.3508

    ----------------------
    GBPUSD :
    HIGH 1.60483 LOW 1.60153 BID 1.60325 ASK 1.60329 CHANGE 0.17% TIME 08 : 45:03



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Down trend
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Our next resistance level is placed at 1.6050 (R1). Break here would open route towards to higher target at 1.6068 (R2) and any further price advance would then be limited to 1.6086 (R3). Downwards scenario: Failure to establish corrective structure might lead to further downtrend evolvement later on today. Penetration below the support at 1.6005 (S1) would suggest next intraday targets at 1.5987 (S2) and 1.5970 (S3) in perspective.

    Resistance Levels: 1.6050, 1.6068, 1.6086
    Support Levels: 1.6005, 1.5987, 1.5970

    --------------------
    USDJPY :
    HIGH 97.338 LOW 97.021 BID 97.144 ASK 97.148 CHANGE -0.34% TIME 08 : 45:04



    OUTLOOK SUMMARY : Neutral
    TREND CONDITION : Sideway
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Price is consolidating on the hourly timeframe however we see potential to overcome our next resistance level at 97.50 (R1) later on today. Our initial targets locates at 97.73 (R2) and 97.96 (R3). Downwards scenario: On the other hand, prolonged movement below the supportive measure at 96.92 (S1) is required to activate new phase of downtrend expansion. We would suggest next aim at 96.68 (S2) and then final target could be met at 96.45 (S3).

    Resistance Levels: 97.50, 97.73, 97.96
    Support Levels: 96.92, 96.68, 96.45

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  6. #96

    Default Forex Technical & Market Analysis FXCC Oct 08 2013

    Forex Technical & Market Analysis FXCC Oct 08 2013

    Chinese government officials fire off warning to USA treasury

    The DJIA closed down 0.90% having experienced a late sell off towards the close of the afternoon session on Monday. As the day unwound any optimism for a solution faded, as did the secular rally enjoyed mid afternoon in the New York session. The SPX followed suit, closing down 0.85% and the NASDAQ closed down 0.98%. In the Chinese government's first public comments on the deadlock, Zhu urged Washington politicians to "learn their lessons from history". A reminder that the US AAA credit rating was downgraded by S&P two years ago after the last debt ceiling standoff. Zhu said; "The United States is totally clear about China's concerns about the fiscal cliff. We ask that the United States earnestly takes steps to resolve in a timely way before October 17 the political [issues] around the debt ceiling and prevent a U.S. debt default to ensure safety of Chinese investments in the United States and the global economic recovery. This is the United States' responsibility."
    Market Analysis | FXCC Blog

    2013-10-08 12:15 GMT | Canada. Housing Starts s.a (YoY) (Sep)
    2013-10-08 16:00 GMT | Switzerland. SNB Chairman Jordan Speech
    2013-10-08 23:30 GMT | Australia. Westpac Consumer Confidence (Oct)
    2013-10-08 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes

    FOREX NEWS :
    2013-10-08 05:00 GMT | USD/JPY pares earlier losses and strikes back above 97.00
    2013-10-08 04:06 GMT | GBP/USD slightly downwards but consolidating yesterday’s gains
    2013-10-08 03:28 GMT | USD/CHF pockets gains printing 0.9044 session highs
    2013-10-08 01:56 GMT | EUR/USD glued to 1.3568 support


    -------------------------
    EURUSD :
    HIGH 1.35816 LOW 1.35574 BID 1.35616 ASK 1.35618 CHANGE -0.14% TIME 08 : 13:56



    OUTLOOK SUMMARY :
    TREND CONDITION : Up trend
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 1.3583 (R1) would enable bullish pressure and open route towards to our next targets at 1.3607 (R2) and 1.3630 (R3). Downwards scenario: Medium-term bias is clearly positive however possible progress below the initial support level at 1.3560 (S1) might expose our intraday targets at 1.3542 (S2) and then 1.3517 (S3) in perspective.

    Resistance Levels: 1.3583, 1.3607, 1.3630
    Support Levels: 1.3560, 1.3542, 1.3517

    ----------------
    GBPUSD :
    HIGH 1.60988 LOW 1.60695 BID 1.60699 ASK 1.60703 CHANGE -0.16% TIME 08 : 13:57



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6099 (R1). A break above it would suggest next intraday target at 1.6122 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6150 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6061 (S1), we expect to see further market decline towards to our next target at 1.6035 (S2) and then next stop could be found at 1.6008 (S3) mark.

    Resistance Levels: 1.6099, 1.6122, 1.6150
    Support Levels: 1.6061, 1.6035, 1.6008

    -------------------
    USDJPY :
    HIGH 97.134 LOW 96.566 BID 97.056 ASK 97.059 CHANGE 0.36% TIME 08 : 13:58



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Down trend
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Immediate resistance at 97.29 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 97.58 (R2) and any further rise would then be limited to final resistive measure at 97.87 (R3). Downwards scenario: On the other hand, our next support level aligns at 96.79 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 96.43 (S2) and 96.05 (S3).

    Resistance Levels: 97.29, 97.58, 97.87
    Support Levels: 96.79, 96.43, 96.05

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  7. #97

    Default Forex Technical & Market Analysis FXCC Oct 09 2013

    Forex Technical & Market Analysis FXCC Oct 09 2013

    IMF lowers global growth targets as USA debt ceiling impasse drags on

    The IMF now expects the global economy to expand by 2.9% in 2013 and 3.6% in 2014, down by 0.3 and 0.2 points respectively on its last predictions, made in July, despite signs of recovery in the euro area. Obama's late statement on Tuesday evening spooked the USA indices, at the start of his speech the DJIA was hovering around a 0.7% loss on the day, by the time he'd finished and the markets had closed the DJIA was down 1.07%, the SPX closed down 1.23% and the NASDAQ down a precise 2.00% on the day. Equity index futures are, at the time of writing, pointing to another negative day on both the European and USA markets. The DJIA equity index future is down 0.92%, SPX down 1.06%, NASDAQ down 1.69%. UK FTSE equity index future is down 0.91%, CAC down 0.73% and the DAX equity index future is down 0.24% The dollar increased 0.2 percent to 96.88 yen late in New York on Tuesday after gaining as much as 0.6 percent earlier in the day. The greenback was little changed at $1.3573 per euro after rising 0.2 percent earlier. The 17-nation shared common currency appreciated by 0.1 percent to 131.49 yen. The dollar rose versus 13 of its 16 most-traded peers as the U.S. political stalemate persisted and President Barack Obama warned the nation faces a “very deep recession” if Congress doesn’t raise the debt limit, fueling safe haven demand for the dollar.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-09 08:30 GMT | UK Industrial Production (YoY) (Aug)
    2013-10-09 14:00 GMT | UK NIESR GDP Estimate (3M) (Sep)
    2013-10-09 18:00 GMT | US FOMC Minutes
    2013-10-09 22:00 GMT | ECB President Draghi's Speech

    FOREX NEWS :
    2013-10-09 03:36 GMT | GBP/USD rally fizzles early Tuesday likely on “fade the news” reaction to Yellen news
    2013-10-09 03:22 GMT | EUR/USD violates support printing 1.3562 session lows
    2013-10-09 02:53 GMT | AUD/USD tumbling after poor Aussie data
    2013-10-09 02:26 GMT | USD/JPY spikes to 97.36 peaks on +43 pips gains

    ----------------------
    EURUSD
    HIGH 1.36046 LOW 1.35617 BID 1.35630 ASK 1.35633 CHANGE -0.08% TIME 08 : 42:32



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Sideway
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : High

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: EURUSD tested negative territory today though appreciation above the resistive structure at 1.3584 (R1) might shift short-term tendency to the bullish side and validate our intraday targets at 1.3596 (R2) and 1.3607 (R3). Downwards scenario: Market decline below the support level at 1.3557 (S1) might shift market sentiment to the bearish side. In such scenario we expect next targets to be exposed today at 1.3546 (S2) and 1.3535 (S3).

    Resistance Levels: 1.3584, 1.3596, 1.3607
    Support Levels: 1.3557, 1.3546, 1.3535

    ------------------------
    GBPUSD
    HIGH 1.61219 LOW 1.60612 BID 1.60664 ASK 1.60672 CHANGE -0.1% TIME 08 : 42:33



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : High

    Upwards scenario: From the technical side, medium - term tendency is bearish, however new step of recovery phase is possible above the resistance level at 1.6086 (R1). Loss here would open way towards to next targets at 1.6106 (R2) and 1.6127 (R3). Downwards scenario: Our next support level is placed at 1.6058 (S1). Possible penetration below it might initiate bearish pressure and gradually push the price towards to our intraday targets at 1.6039 (S2) and 1.6019 (S3).

    Resistance Levels: 1.6086, 1.6106, 1.6127
    Support Levels: 1.6058, 1.6039, 1.6019

    --------------------
    USDJPY :
    HIGH 97.446 LOW 96.825 BID 97.404 ASK 97.408 CHANGE 0.56% TIME 08 : 42:34



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : High

    Upwards scenario: USDJPY trapped to the correction phase on the hourly chart frame. Break of resistive level at 97.48 (R1) is required to enable upwards action. Next visible targets are seen at 97.67 (R2) and 97.85 (R3). Downwards scenario: Though, we still keep the bearish scenario in focus. Risk of market decline is seen below the support level at 97.18 (S1). Loss here would enable initial targets at 97.00 (S2) and 96.80 (S3).

    Resistance Levels: 97.48, 97.67, 97.85
    Support Levels: 97.18, 97.00, 96.80

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  8. #98

    Default Forex Technical & Market Analysis FXCC Oct 10 2013

    Forex Technical & Market Analysis FXCC Oct 10 2013

    Yellen's hard task highlighted by the minutes from the FOMC

    Janet Yellen's difficult task was highlighted by the FOMC minutes published on Wednesday. Policy makers at the US Federal Reserve were split over the benefits of slowing down (tapering) its $85bn a month asset purchases in September, highlighting the difficult task facing her as she prepares to take chairmanship of the central bank. Barack Obama stepped up his discussions with Congress as USA political leaders look for a solution to the budget crisis that could leave the country without money to pay its bills before the end of the month. The president will meet senior Republicans from the House of Representatives at the White House on Thursday, after talks with members of his Democratic party on Wednesday evening. US default swaps trade has soared on debt fears. Growing investor fears that Washington could miss a payment on its debt has led to a surge in activity in the market for derivatives that insure against a US default. Commodities were hit hard in Wednesday's trading sessions; ICE WTI oil closing down 2.05% at $101.37 per barrel, NYMEX natural down 1.00% at $3.68 per therm. COMEX gold closed the day down 1.31%, silver down 2.46% at $21.89 per ounce.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-10 08:00 GMT | ECB Monthly Report
    2013-10-10 11:00 GMT | BoE Interest Rate Decision
    2013-10-10 11:45 GMT | Bank of Japan Governor Kuroda Speech
    2013-10-10 16:00 GMT | Bank of Japan Governor Kuroda Speech

    FOREX NEWS :
    2013-10-10 05:43 GMT | USD/CHF on a strong rally higher
    2013-10-10 04:32 GMT | USD/JPY soars on Nikkei, solid data and short-covering
    2013-10-10 04:30 GMT | EUR/USD working on a re-test of yesterday’s low at 1.3488
    2013-10-10 03:17 GMT | GBP/USD struggling to set a solid short-term low; anywhere in 1.5841 – 1.5908 will do


    EURUSD :
    HIGH 1.35275 LOW 1.34876 BID 1.35034 ASK 1.35037 CHANGE -0.13% TIME 08 : 52:42



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Down trend
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : High

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: We see potential to test our resistive barrier at 1.3516 (R1) later on today. Successful penetration above this mark might keep bullish sentiment in play and validate our intraday targets at 1.3531 (R2) and 1.3546 (R3). Downwards scenario: On the other hand, instrument might enable bearish pressure below the support level at 1.3485 (S1) and prolong initial downtrend development. Next targets on the way locates at 1.3471 (S2) and 1.3457 (S3).

    Resistance Levels: 1.3516, 1.3531, 1.3546
    Support Levels: 1.3485, 1.3471, 1.3457

    ------------------
    GBPUSD :
    HIGH 1.59654 LOW 1.59142 BID 1.59405 ASK 1.59413 CHANGE -0.09% TIME 08 : 52:43



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Down trend
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : High

    Upwards scenario: Fractal level offers a key resistive barrier at 1.5968 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.6006 (R2) and 1.6039 (R3) in potential. Downwards scenario: Fresh low offers a key supportive measure at 1.5914 (S1) on a downside. A violation here is liable to commence correction pattern on the bigger picture and expose our initial targets at 1.5878 (S2) and 1.5845 (S3).

    Resistance Levels: 1.5968, 1.6006, 1.6039
    Support Levels: 1.5914, 1.5878, 1.5845

    --------------
    USDJPY :
    HIGH 97.823 LOW 97.338 BID 97.727 ASK 97.731 CHANGE 0.39% TIME 08 : 52:44



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Up trend
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : High

    Upwards scenario: While price is quoted above the 20 SMA, our technical outlook would be positive. Clearance of our next resistance level at 97.87 (R1) would suggest next intraday targets at 98.01 (R2) and 98.14 (S3) in perspective. Downwards scenario: On the other hand, depreciation below the support level at 97.65 (S1) would suggest next intraday target at 97.51 (S2) and any further weakening would then be limited to final support level at 97.37 (S3).

    Resistance Levels: 97.87, 98.01, 98.14
    Support Levels: 97.65, 97.51, 97.37

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  9. #99

    Default Forex Technical & Market Analysis FXCC Oct 11 2013

    Forex Technical & Market Analysis FXCC Oct 11 2013

    ECB Agrees on swap line with PBOC as Chinese trade increases

    The European Central Bank and the People’s Bank of China agreed to establish a bilateral currency swap line on Thursday, increasing access to trade finance in the euro area and strengthening the international use of the yuan. The swap line will be valid for three years and have a maximum size of 350 billion yuan ($57 billion) when Chinese currency is provided to the ECB and 45 billion euros ($61 billion) when money is given to the PBOC. The arrangement is available to all Eurosystem counter-parties via national central banks, it said. House Speaker John Boehner has proposed extending the federal debt limit until Nov. 22nd as a way to shift debate back to a government-spending bill. The bill wouldn’t end the partial shutdown of the government, which began Oct. 1st after Republicans insisted on changes to the 2010 health-care law. Boehner told reporters the House wants to “offer the president today the ability to move.”
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    24h | G20 Finance Ministers and Central Bank Governors Meeting
    24h | IMF Meeting
    2013-10-11 06:00 GMT | DE Harmonised Index of Consumer Prices (YoY) (Sep)
    2013-10-11 12:30 GMT | CA Unemployment Rate (Sep)

    FOREX NEWS :
    2013-10-11 05:26 GMT | USD/CHF struggles to keep the 0.9100 level
    2013-10-11 04:56 GMT | USD/CAD sits on the fence ahead of Canadian labor data, BoC outlook
    2013-10-11 04:24 GMT | AUD/USD upwards amidst easing worries on US fiscal issues
    2013-10-11 03:01 GMT | EUR/USD on steady climb to 1.3540

    ------------------------
    EURUSD :
    HIGH 1.35441 LOW 1.35178 BID 1.35347 ASK 1.35350 CHANGE 0.11% TIME 08 : 37:18



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: On the upside current structure might face next hurdle at 1.3546 (R1). Successful penetration above that mark would suggest next target zone – 1.3559 (R2) onto 1.3573 (R3) price levels. Downwards scenario: Any downside fluctuations remains for now limited to the next support barrier at 1.3517 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.3503 (S2) and 1.3489 (S3) in potential

    Resistance Levels: 1.3546, 1.3559, 1.3573
    Support Levels: 1.3517, 1.3503, 1.3489

    ------------------
    GBPUSD :
    HIGH 1.59903 LOW 1.5963 BID 1.59881 ASK 1.59885 CHANGE 0.13% TIME 08 : 37:18



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: Our next resistance level is placed at 1.5993 (R1). Clearance here is required to commence ascending structure towards to next target at 1.6023 (R2) and any further price appreciation would then be limited to 1.6053 (R3) mark. Downwards scenario: On the other side, a dip below the initial support level at 1.5950 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 1.5921 (S2) and 1.5891 (S3) in potential.

    Resistance Levels: 1.5993, 1.6023, 1.6053
    Support Levels: 1.5950, 1.5921, 1.5891

    --------------------
    USDJPY :
    HIGH 98.552 LOW 97.921 BID 98.370 ASK 98.373 CHANGE 0.23% TIME 08 : 37:19



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Up trend
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: USDJPY resumed upwards penetration today and we see potential to expose our intraday targets at 98.72 (R2) and 98.88 (R3) if the price manages to overcome key resistance measure at 98.56 (R1). Downwards scenario: Possible downside pressure could be maintained if the price penetrates below the support measure at 98.24 (S1). Clearance here would open way for a price move towards to lower targets at 98.08 (S2) and 97.92 (S3).

    Resistance Levels: 98.56, 98.72, 98.88
    Support Levels: 98.24, 98.08, 97.92

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

  10. #100

    Default Forex Technical & Market Analysis FXCC Oct 14 2013

    Forex Technical & Market Analysis FXCC Oct 14 2013

    World Bank head Jim Yong Kim warns US is ‘five days away from a very dangerous moment

    Jim Yong Kim has warned the United States they're just 'days away' from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default. 'We're now five days away from a very dangerous moment. I urge U.S. policymakers to quickly come to a resolution before they reach the debt ceiling deadline. Inaction could result in interest rates rising, confidence falling and growth slowing. If this comes to pass, it could be a disastrous event for the developing world, and that will in turn greatly hurt developed economies as well." Meanwhile the Chinese have lost very little time in making their opinion known, one of the official news outlets, Xinhua, has begun to call for a new global reserve currency to be created given the instability of the dollar; "US fiscal failure warrants a de-Americanized world and the creation of a new reserve currency to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States." The U.S. shouldn’t risk defaulting on its debt because doing so would wreak havoc in the world’s economy and financial markets, said the heads of JPMorgan, Deutsche Bank AG and Pacific Investment Management Co. JPMorgan Chief Executive Officer Jamie Dimon said yesterday during a panel discussion at a financial industry conference in Washington; “The United States cannot default and, in my opinion, will not default. It would ripple through the global economy in a way you couldn’t possibly understand.”
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-14 24 hours | Eurogroup meeting
    2013-10-14 24 hours | US. Columbus Day
    2013-10-14 09:00 GMT | EU. Industrial Production s.a. (MoM) (Aug)
    2013-10-14 12:00 GMT | Poland. M3 Money Supply (YoY) (Sep)

    FOREX NEWS :
    2013-10-14 05:08 GMT | AUD/USD gains again uptrend momentum after solid China CPI release
    2013-10-14 05:07 GMT | GBP/USD trading modestly higher on concerns over US politics
    2013-10-14 04:20 GMT | USD/JPY under pressure on concerns about US debt ceiling
    2013-10-14 04:20 GMT | GBP/JPY consolidating recent gains; technicians say a bit more upside likely

    -----------------------
    EURUSD :
    HIGH 1.35668 LOW 1.35509 BID 1.35665 ASK 1.35668 CHANGE 0.18% TIME 08 : 25:37



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Low

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: We are not expecting significant volatility increase today however upside risk aversion is seen above the next resistance level at 1.3581 (R1). Price evaluation above this level would suggest next targets at 1.3599 (R2) and 1.3616 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.3551 (S1), we expect to see further market decline towards to our next target at 1.3536 (S2) and then next stop could be found at 1.3517 (S3) mark.

    Resistance Levels: 1.3581, 1.3599, 1.3616
    Support Levels: 1.3551, 1.3536, 1.3517

    ----------------------
    GBPUSD :
    HIGH 1.59888 LOW 1.59633 BID 1.59859 ASK 1.59867 CHANGE 0.23% TIME 08 : 25:43



    OUTLOOK SUMMARY : Up
    TREND CONDITION : Down trend
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Low

    Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.6003 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.6035 (R2) and 1.6061 (R3). Downwards scenario: Penetration below the support at 1.5964 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.5928 (S2) and 1.5893 (S3) might be triggered.

    Resistance Levels: 1.6003, 1.6035, 1.6061
    Support Levels: 1.5964, 1.5928, 1.5893

    ------------------
    USDJPY :
    HIGH 98.351 LOW 98.119 BID 98.258 ASK 98.262 CHANGE -0.31% TIME 08 : 25:51



    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Low

    Upwards scenario: Any upside actions looks limited to resistance level at 98.60 (R1). Surpassing of this level might enable next target at 98.81 (R2) and any further gains would then be targeting final mark at 99.03 (R3) in potential. Downwards scenario: Next support level is seen at 98.10 (S1), any penetration below it might activate downside pressure and enable lower target at 97.89 (S2). Any further market decline would then be limited to 97.62 (S3).

    Resistance Levels: 98.60, 98.81, 99.03
    Support Levels: 98.10, 97.89, 97.62

    Source: FX Central Clearing Ltd,( http://www.fxcc.com )

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