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Thread: Daily Market Roundup from FXCC

  1. #101

    Default Forex Technical & Market Analysis FXCC Oct 15 2013

    Forex Technical & Market Analysis FXCC Oct 15 2013

    Central Banks begin to plan for a USA default as the deadline nears

    Global central banks are beginning to create contingency plans as to how they'd keep financial markets moving if the U.S. defaults. Jon Cunliffe, the Bank of England deputy governor said in testimony to U.K. Politicians on Monday; "Because in the past it’s always been sorted out is absolutely not a reason to fail to do the contingency planning. I would expect the Bank of England to be planning for it. I’d expect private-sector actors to be doing that, and in other countries as well.” Due to the Columbus Day bank holiday in the USA and Canada the main equity markets were closed and the FX markets experienced less transaction turnover on Monday. European markets mostly experienced a positive day. The STOXX index closed up 0.11%, the UK FTSE up 0.32%, the CAC closed up 0.07%, and the DAX closed down by 0.01%. The Portuguese index closed up the most in the European markets by 0.98%. Equity index futures (at the time of writing) appear to suggest that the USA main indices will tentatively open in positive territory on Tuesday; the DJIA equity index future is up 0.07%, SPX up 0.11% and the NASDAQ equity index future is up 0.15%. Commodities were mainly positive, ICE WTI oil closed the day up 0.22% at $102.24 per barrel, NYMEX natural closed up 1.17% at $3.82 per therm, COMEX gold closed the day up 0.28% at $1271.80 per ounce. Silver on COMEX was flat at the day's end at $21.27 per ounce. The dollar was little changed at 98.53 yen late in New York after weakening earlier as much as 0.5 percent to 98.08 yen. It rose 1.9 percent over the previous four days. The dollar fell 0.2 percent to $1.3565 per euro. Japan’s currency declined 0.1 percent to 133.65 per euro after weakening to 133.60 on Oct. 11th, the least since Sept. 26th. The U.S. Dollar Index, tracking the currency’s performance versus a basket of 10 leading counterparts, slid up to 0.23 percent, the biggest intraday drop since Oct. 2nd, to 1,010.07 before trading at 1,011.21, down 0.12 percent.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-15 24 hours | EU. EcoFin Meeting
    2013-10-15 09:00 GMT | EU. ZEW Survey - Economic Sentiment (Oct)
    2013-10-15 21:45 GMT | New Zealand. Consumer Price Index (QoQ) (Q3)
    2013-10-15 23:30 GMT | New Zealand. Westpac Leading Index (MoM) (Aug)

    FOREX NEWS :
    2013-10-15 04:31 GMT | GBP/USD heading north but also capped by 1.6000
    2013-10-15 03:46 GMT | EUR/GBP modestly lower ahead of heavy data flow Tuesday
    2013-10-15 01:01 GMT | EUR/USD falls to 1.3550 bottoms
    2013-10-15 00:36 GMT | AUD/USD reaches 0.9523 peaks on neutral RBA minutes

    ----------------
    EURUSD :
    HIGH 1.35709 LOW 1.355 BID 1.35693 ASK 1.35697 CHANGE 0.07% TIME 08 : 17:32



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: On the upside potential is seen for a break above the resistance at 1.3599 (R1). In such case we would suggest next target at 1.3616 (R2) and any further rise would then be limited to final resistance at 1.3631 (R3). Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 1.3551 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 1.3536 (S2) and 1.3517 (S3).

    Resistance Levels: 1.3599, 1.3616, 1.3631
    Support Levels: 1.3551, 1.3536, 1.3517

    ------------------
    GBPUSD :
    HIGH 1.59983 LOW 1.59521 BID 1.59943 ASK 1.59951 CHANGE 0.08% TIME 08 : 17:36



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

    Upwards scenario: Next resistance level is seen at 1.6019 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.6042 (R2) and 1.6061 (R3) in potential. Downwards scenario: We do expect some pull-backs development on the downside below the support level at 1.5964 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 1.5938 (S2) and 1.5914 (S3).

    Resistance Levels: 1.6019, 1.6042, 1.6061
    Support Levels: 1.5964, 1.5938, 1.5914

    -----------------------
    USDJPY :
    HIGH 98.703 LOW 98.415 BID 98.442 ASK 98.447 CHANGE -0.14% TIME 08 : 17:40



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

    Upwards scenario: Medium term bias remains positive however further market rise is limited now to the key resistive barrier at 98.69 (R1), clearance here is required to enable next resistances at 98.86 (R2) and last one at 99.03 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the next support level at 98.10 (S1). Loss here would suggest to monitor marks at 97.89 (S2) and 97.69 (S3) as possible intraday targets.

    Resistance Levels: 98.69, 98.86, 99.03
    Support Levels: 98.10, 97.89, 97.69

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

  2. #102

    Default Forex Technical & Market Analysis FXCC Oct 17 2013

    Forex Technical & Market Analysis FXCC Oct 17 2013

    Debt ceiling temporary solution provides temporary market relief

    The debt ceiling resolution saw the DJIA rise by 1.36% on Wednesday. The compromise will fund the government through to mid-January and raise the debt ceiling through Feb. 7th. It also will set up a budget conference on long-term fiscal issues that would end no later than Dec. 13th. The Treasury Department will still be able to use "extraordinary measures" to work around the debt ceiling in the case that it is not raised by Feb. 7th. The first estimate for the euro area1 (EA17) trade in goods balance with the rest of the world in August 2013 gave a 7.1 billion euro surplus, compared with +4.6 bn in August 2012. The July 20132 balance was +18.0 bn, compared with +13.8 bn in July 2012. In August 2013 compared with July 2013, seasonally adjusted exports rose by 1.0% and imports by 0.2%. Euro area annual inflation was 1.1% in September 2013, down from 1.3% in August. A year earlier the rate was 2.6%. Monthly inflation was 0.5% in September 2013. European Union annual inflation was 1.3% in September 2013, down from 1.5% in August. A year earlier the rate was 2.7%. Monthly inflation was 0.4% in September 2013. The DJIA index closed up 1.36% on Wednesday, the SPX up 1.38% and NASDAQ up 1.20%. The debt ceiling compromise came too late to impact on European markets, STOXX index closed up 0.36%, FTSE up 0.34%, CAC closed down 0.29% and the DAX up 0.47%. The MIB closed up the most by 1.45% on the day.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-17 09:00 GMT | Germany. 10-y Bond Auction
    2013-10-17 12:30 GMT | USA. Initial Jobless Claims (Oct 11)
    2013-10-17 14:00 GMT | USA. Philadelphia Fed Manufacturing Survey (Oct)
    2013-10-17 23:50 GMT | Japan. Foreign bond investment (Oct 11)

    FOREX NEWS :
    2013-10-17 05:12 GMT | AUD/USD downwards despite a breach of the debt ceiling averted
    2013-10-17 04:25 GMT | USD/CHF downwards despite greenback relief rally on debt progress
    2013-10-17 02:32 GMT | EUR/USD jumps to 1.3550 highs; targets revisit; House says yes
    2013-10-17 02:21 GMT | US House passes bill to end shutdown, raise debt ceiling

    -------------------------
    EURUSD :
    HIGH 1.35521 LOW 1.35157 BID 1.35468 ASK 1.35473 CHANGE 0.11% TIME 08 : 21:46



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Short- term tendency is bearish even though both moving averages are pointing up. Though risk of market strengthening is seen above the resistance level at 1.3555 (R1). Clearance here would open way towards to next targets at 1.3571 (R2) and 1.3588 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.3517 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.3498 (S2) and 1.3479 (S3).

    Resistance Levels: 1.3555, 1.3571, 1.3588
    Support Levels: 1.3517, 1.3498, 1.3479

    -------------------
    GBPUSD :
    HIGH 1.59861 LOW 1.59397 BID 1.59775 ASK 1.59785 CHANGE 0.19% TIME 08 : 21:47



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

    Upwards scenario: GBP/USD determined clear sideways tone on the medium-term timeframe. Possibility of market appreciation is seen above the resistance level at 1.5999 (R1). Break here is required to validate next targets at 1.6019 (R2) and 1.6042 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.5938 (S1). Possible price regress could expose our initial targets at 1.5914 (S2) and 1.5892 (S3) in potential.

    Resistance Levels: 1.5999, 1.6019, 1.6042
    Support Levels: 1.5938, 1.5914, 1.5892

    -------------------
    USDJPY :
    HIGH 99.006 LOW 98.397 BID 98.444 ASK 98.447 CHANGE -0.31% TIME 08 : 21:47



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

    Upwards scenario: Instrument consolidates from its initial uptrend formation on the hourly chart. Resistance level at 98.82 (R1) is a key technical point on the upside. Penetration above it would suggest higher targets at 99.01 (R2) and 99.20 (R3) later on today. Downwards scenario: Prolonged movement below the initial support level at 92.28 (S1) might trigger protective orders and drive the price towards to our intraday targets at 98.10 (S2) and 97.89 (S3) later on today.

    Resistance Levels: 98.82, 99.01, 99.20
    Support Levels: 98.28, 98.10, 97.89

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

  3. #103

    Default Forex Technical & Market Analysis FXCC Oct 21 2013

    Forex Technical & Market Analysis FXCC Oct 21 2013

    China’s central government has called for “unrelenting” implementation of its economic policies and reform measures

    Monday sees the publication of Germany's PPI figure and the monthly report from Germany's Bundesbank. Inflation is expected to come in at 0.1% month on month. In the USA another member of the Fed will hold court with the focus moving from the debt ceiling issue to the other issues affecting the USA economy, such as the throttling of monetary easing by way of tapering. Existing home sales in the USA are expected to come in at 5.31 million from the previous month's 5.48 million. Canada's wholesale sales are anticipated to print at 0.6%. USA crude oil inventory figures are suggested to fall to 3.4 million barrels from 6.8 million barrels the previous month. More arrivals from China contributed to a 7 percent increase in visitors to New Zealand in September 2013, compared with September 2012, Statistics New Zealand said today. "The 21,200 visitors from China was well up from 14,000 last September," population statistics manager Andrea Blackburn said. "This continues the strong growth in visitor numbers which we have seen from the world's most populous country in recent years." In the September 2013 year, visitor arrivals rose 3 percent to reach 2.670 million.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    N/A | US CB Leading Indicator (MoM) (Sep)
    2013-10-21 06:00 GMT | DE Producer Price Index (YoY) (Sep)
    2013-10-21 14:00 GMT | US Existing Home Sales (MoM) (Sep)
    2013-10-21 14:30 GMT | US EIA Crude Oil Stocks change (Oct 11)

    FOREX NEWS :
    2013-10-21 05:40 GMT | AUD/USD upwards ‘flirting’ with the 200-daily SMA at 0.9755
    2013-10-21 05:04 GMT | USD/CHF moves on the upper level on greenback strengthening
    2013-10-21 04:23 GMT | USD/JPY looking to test 200-day MA 97.15 - BBH
    2013-10-21 03:33 GMT | EUR/USD opens week in the red as part of consolidation; upside eventually 1.3750?

    ----------------------
    EURUSD :
    HIGH 1.36879 LOW 1.36706 BID 1.36776 ASK 1.36779 CHANGE -0.06% TIME 08 : 53:03



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: EURUSD clearly determined positive bias on the medium-term perspective. Penetration above the resistive measure at 1.3704 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.3721(R2) and 1.3739 (R3). Downwards scenario: Our next supportive measure locates at 1.3658 (S1). Break here is required to enable correction action towards to next target at 1.3641 (S2). Final support for today locates at 1.3622 (S3).

    Resistance Levels: 1.3704, 1.3721, 1.3739
    Support Levels: 1.3658, 1.3641, 1.3622

    ----------------
    GBPUSD :
    HIGH 1.61774 LOW 1.61522 BID 1.61706 ASK 1.61711 CHANGE 0.04% TIME 08 : 53:04



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

    Upwards scenario: On the upside fractal level at 1.6225 (R1) prevents further gains. Successful clearance here would suggest next intraday targets at 1.6248 (R2) and 1.6269 (R3). Downwards scenario: On the other hand, current range pattern on the hourly chart suggest possible retest of our supportive measure at 1.6148 (S1). Break here is required to open way towards to initial targets at 1.6125 (S2) and 1.6102 (S3).

    Resistance Levels: 1.6225, 1.6248, 1.6269
    Support Levels: 1.6148, 1.6125, 1.6102

    -----------------------------
    USDJPY :
    HIGH 98.103 LOW 97.771 BID 98.021 ASK 98.024 CHANGE 0.29% TIME 08 : 53:05



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

    Upwards scenario: Resistance at 98.16 (R1) limits possible upwards penetration. Break here is required to enable next interim target at 98.31 (R2) en route towards to final aim for today at 98.46 (R3). Downwards scenario: On the other hand, successful retest of our support level at 97.74 (S1) would clear the way for a downtrend expansion towards to our lower targets at 97.59 (S2) and 97.43 (S3) in potential

    Resistance Levels: 98.16, 98.31, 98.46
    Support Levels: 97.74, 97.59, 97.43

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

  4. #104

    Default Forex Technical & Market Analysis FXCC Oct 22 2013

    Forex Technical & Market Analysis FXCC Oct 22 2013

    Tuesday's NFP day, let's be careful out there

    The big event of the day is the 18 day late publication of the NFP figures. Traders need to exercise caution as the figure might come in far better than predicted, but be subject to significant revisions due to the temporary govt. shutdown. The anticipation is for a print of 182K jobs created with the unemployment rate remaining steady at 7.3%. The benchmark 10-year yield rose two basis points, or 0.02 percentage point, to 2.60 percent as of 5 p.m in New York. The price of the 2.5 percent note due in August 2023 fell 6/32, or $1.88 per $1,000 face amount, to 99 1/8. The yield declined to 2.54 percent on Oct. 18th, the lowest since July 24th, down from a 2013 high of 3 percent on Sept. 6th.Treasury 10-year notes snapped a three-day advance before the NFP government report on Tuesday.

    The yen fell 0.5 percent to 98.19 per dollar after gaining 1.1 percent during the previous two days. Japan’s currency declined 0.4 percent to 134.32 per euro and touched 134.38, the weakest level since Sept. 23rd. The dollar was little changed at $1.3681 per euro after gaining 0.3 percent earlier. The U.S. Dollar Index, which monitors the greenback versus a basket of 10 other major currencies, rose 0.2 percent to 1,004.55 late in New York. The gauge fell to 1,000.70 on Oct. 18th, the lowest intraday level since Feb. 13th, extending a weekly loss to 1 percent, the most in a month. The price of crude oil fell below $100 a barrel Monday after the U.S. government reported an increase in supplies. Metals prices were broadly higher and crop prices were mixed. Crude oil for November delivery fell $1.59, or 1.6 percent, to $99.22 a barrel in New York. That's the first close below $100 a barrel since July.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-22 08:30 GMT | UK Public Sector Net Borrowing (Sep)
    2013-10-22 12:30 GMT | US Nonfarm Payrolls (Sep)
    2013-10-22 12:30 GMT | CA Retail Sales (MoM) (Aug)
    2013-10-22 23:00 GMT | AU CB Leading Indicator (Aug)

    FOREX NEWS :
    2013-10-22 05:15 GMT | Good Chinese data leads to little movement in the markets; traders await US data
    2013-10-22 05:09 GMT | Oil sits below $100, gold consolidates
    2013-10-22 04:35 GMT | GBP/USD grinds slowly lower ahead of NFP data
    2013-10-22 04:12 GMT | NFP likely no to have two-way directionality as usual - Rabobank

    ---------------------
    EURUSD :
    HIGH 1.36806 LOW 1.36622 BID 1.36711 ASK 1.36713 CHANGE -0.07% TIME 08 : 43:23



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Possibility of further price progress is seen above the next resistance level at 1.3688 (R1). Breakthrough here would suggest interim target at 1.3704 (R2) and then mark at 1.3721 (R3) acts as next attractive point. Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.3651 (S1) is being able to drive market price towards to our next targets at 1.3635 (S2) and 1.3618 (S3).

    Resistance Levels: 1.3688, 1.3704, 1.3721
    Support Levels: 1.3651, 1.3635, 1.3618

    -------------------
    GBPUSD
    HIGH 1.61475 LOW 1.61154 BID 1.61274 ASK 1.61277 CHANGE -0.11% TIME 08 : 43:24



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

    Upwards scenario: Retracement formation remains in power. Our next resistive measure lies at 1.6148 (R1), break here is required to achieve higher targets at 1.6173 (R2) and 1.6199 (R3). Downwards scenario: Our bearish expectations remain intact below the key support level at 1.6115 (S1). Price penetration below it would allow further declines towards to lower targets at 1.6090 (S2) and 1.6065 (S3).

    Resistance Levels: 1.6148, 1.6173, 1.6199
    Support Levels: 1.6115, 1.6090, 1.6065

    --------------------
    USDJPY :
    HIGH 98.364 LOW 98.136 BID 98.311 ASK 98.313 CHANGE 0.14% TIME 08 : 43:25



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

    Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 98.37 (R1), break here would suggest next intraday targets at 98.50 (R2) and 98.62 (R3). Downwards scenario: On the other hand, loss of our support level at 98.15 (S1) would open road for a market decline towards to our next target at 98.03 (S2). Any further price weakening would then be limited to final support at 97.90 (S3).

    Resistance Levels: 98.37, 98.50, 98.62
    Support Levels: 98.15, 98.03, 97.90

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

  5. #105

    Default Forex Technical & Market Analysis FXCC Oct 23 2013

    Forex Technical & Market Analysis FXCC Oct 23 2013

    Markets rally as poor NFP print equals delayed monetary stimulus taper

    The DJIA closed up 0.49% on Tuesday with the SPX up 0.57% and the NASDAQ up 0.24%. European markets joined in the late afternoon rally; STOXX closing up 0.57%, UK FTSE up 0.62%, CAC up 0.43% and the DAX up 0.90%. The ASE closed up 0.45%. The leader on the board in Europe was the Swiss market index, closing up 1.12% on the day, the Swiss trade balance exceeding expectations helping the index rise, the balance was up to 2.49 bn. Equity index futures are currently flat or down marginally at the time of writing, the DJIA down 0.06%, SPX down 0.09% and the NASDAQ down 0.09%. European equity index futures are up; FTSE up 0.63%, CAC up 0.45% and the DAX up 0.84% Commodities experienced mixed fortunes on Tuesday, with WTI oil finally breaching the critical psyche level of $100 a barrel by some distance. ICE WTI oil was down 1.38% on the day to finish at $98.30 per barrel. NYMEX natural was up 0.34% on the day. COMEX gold was down 0.18% on the day at $1340.30 per ounce, with silver at $22.71 down 0.35% on the day. The dollar depreciated by 0.7 percent to $1.3781 per euro late in New York time, and touched $1.3792, the weakest level since November 2011. The greenback was little changed at 98.14 yen, while the Japanese currency lost 0.7 percent to 135.25 per euro and reached 135.51, the weakest since November 2009. The Swiss franc climbed as much as 0.9 percent to 89.40 centimes per dollar before trading at 89.47. The dollar slid to its weakest level in almost two years versus the euro after lower-than-forecast U.S. employment gains added to speculation the Federal Reserve will delay reducing stimulus.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-23 08:30 GMT | Bank of England Minutes
    2013-10-23 14:00 GMT | BoC Interest Rate Decision (Oct 23)
    2013-10-23 14:30 GMT | Bank of Canada Monetary Policy Report
    2013-10-23 15:15 GMT | BoC Press Conference

    FOREX NEWS :
    2013-10-23 05:36 GMT | USD/JPY tumbles on sharp Nikkei falls, China banks “jitters”
    2013-10-23 04:48 GMT | AUD/USD retraced all of its post Australian CPI gains
    2013-10-23 04:08 GMT | EUR/JPY tumbles on a corrective pullback
    2013-10-23 03:42 GMT | EUR/USD rips past ‘13 peak of 1.3710 on “no tapering” hopes – continues higher Wednesday

    -------------------------
    EURUSD :
    HIGH 1.37928 LOW 1.37663 BID 1.37732 ASK 1.37735 CHANGE -0.06% TIME 08 : 44:43



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: EURUSD gained momentum on the upside recently and likely resume its uptrend formation. Clearance of our next resistive structure at 1.3794 (R1) would open way towards to our initial target at 1.3821 (R2) and any further market rise would then be targeting 1.3846 (R3). Downwards scenario: On the downside bearish pressure might push the price below the support at 1.3750 (S1). Further downside extension would open road towards to next target at 1.3727 (S2) and any further losses would then be limited to 1.3704 (S3) mark.

    Resistance Levels: 1.3794, 1.3821, 1.3846
    Support Levels: 1.3750, 1.3727, 1.3704

    ----------------------
    GBPUSD :
    HIGH 1.62567 LOW 1.62101 BID 1.62164 ASK 1.62173 CHANGE -0.11% TIME 08 : 44:44



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

    Upwards scenario: Possibility of ascending structure is seen above the fractal level at 1.6259 (R1). Break here is required to clear the way towards to higher targets at 1.6286 (R2) and 1.6315 (R3). Downwards scenario: On the other hand, recovery phase might commence below the important support level at 1.6194 (S1). Break here is required to validate our targets at 1.6167 (S2) and 1.6139 (S3) later on today.

    Resistance Levels: 1.6259, 1.6286, 1.6315
    Support Levels: 1.6194, 1.6167, 1.6139

    ----------------------
    USDJPY :
    HIGH 98.195 LOW 97.264 BID 97.440 ASK 97.443 CHANGE -0.71% TIME 08 : 44:45



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

    Upwards scenario: Possible upwards formation is limited to resistive measure at 97.56 (R1). A break above it would suggest next intraday target 97.73 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 97.89 (R3). Downwards scenario: Clearance of our support at 97.25 (S1) is required to determine negative intraday bias and enable lower target at 97.09 (S2) and then any further market depreciation would suggest final aim at 96.92 (S3).

    Resistance Levels: 97.56, 97.73, 97.89
    Support Levels: 97.25, 97.09, 96.92

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

  6. #106

    Default Forex Technical & Market Analysis FXCC Oct 24 2013

    Forex Technical & Market Analysis FXCC Oct 24 2013

    Flash PMIs will dictate the market mood on Thursday

    The DJIA closed down 0.35% on Wednesday, the recent rally, due to a temporary solution regarding the debt ceiling issue being agreed, may have now faded. The SPX closed down 0.47% and the NASDAQ down 0.57%. In Europe the STOXX index closed down 0.94%, reacting badly to the coming bank tests, the FTSE closed down 0.32%, CAC down 0.81%, DAX down 0.31%. The IBEX reacted badly to the bank test news despite crawling out of a deep recession, down 1.84% on the day. The MIB closed down 2.38%, with the Athens exchange hurting the most, down 3.82% on the day. Commodities once again endured a sell off on Wednesday, improved crude oil reserve numbers for the USA, up to 5.2 million barrels, caused WTI oil to fall by 1.22% to end at $97.10 per barrel on the day. The critical psyche level of $100 per barrel now being breached substantially with new medium term support levels being established. NYMEX natural rose by 1.06% to $3.62 per therm. COMEX gold was down 0.72% at $1333.00, with silver on COMEX down 1.01%. Equity index futures are pointing to a negative open in Europe followed by New York opening down. The DJIA equity index future is currently down 0.38%, NASDAQ down 0.42%, STOXX down 0.96%, FTSE down 0.40%, DAX down 0.35% The yen gained 0.8 percent to 134.12 per euro late in New York, after climbing as much as 1.2 percent, the biggest intraday advance since Aug. 27th. It depreciated to 135.51 Wednesday, the weakest level since November 2009. Japan’s currency strengthened 0.8 percent to 97.34 per dollar and touched 97.16, breaching its 200-day moving average at 97.28. The yen strengthened the most in eight weeks versus the euro as borrowing costs for Chinese banks jumped by the most since July affecting demand for safer assets.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-24 07:58 GMT | EMU Markit Services PMI (Oct)
    2013-10-24 14:00 GMT | US New Home Sales (MoM) (Sep)
    2013-10-24 16:45 GMT | UK BOE's Governor Carney speech
    2013-10-24 23:30 GMT | JP National Consumer Price Index (YoY) (Sep)

    FOREX NEWS :
    2013-10-24 05:07 GMT | EUR/USD continues to consolidate around 1.3780 area
    2013-10-24 04:47 GMT | NZD/USD rejected off 0.8440 resistance, NZ Treasury report weighs
    2013-10-24 04:20 GMT | USD/CHF breaks 2012 lows despite upbeat Chinese PMI
    2013-10-24 03:06 GMT | GBP/JPY on EMA20 at 157.60

    ---------------------
    EURUSD :
    HIGH 1.37931 LOW 1.37733 BID 1.37921 ASK 1.37924 CHANGE 0.12% TIME 08 : 51:48



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Possibility of further market appreciation is seen above the resistance level at 1.3794 (R1). Break here is required to validate next targets at 1.3821 (R2) and 1.3846 (R3) Downwards scenario: On the other hand, progress below the initial support level at 1.3761 (S1) might initiate bearish pressure and expose our intraday targets at 1.3735 (S2) and 1.3710 (S3) later on today.

    Resistance Levels: 1.3794, 1.3821, 1.3846
    Support Levels: 1.3761, 1.3735, 1.3710

    -----------------
    GBPUSD :
    HIGH 1.62025 LOW 1.61623 BID 1.61914 ASK 1.61917 CHANGE 0.18% TIME 08 : 51:49



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

    Upwards scenario: Measures of resistance might be activating if the pair approaches 1.6225 (R1) price level. Break here would suggest next interim target at 1.6257 (R2) and If the price keeps its momentum we expect an exposure of 1.6287 (R3). Downwards scenario: Possible downward penetration is limited now to support level at 1.6157 (S1). If the price manages to surpass it, we would suggest next intraday targets at 1.6128 (S2) and 1.6099 (S3).

    Resistance Levels: 1.6225, 1.6257, 1.6287
    Support Levels: 1.6157, 1.6128, 1.6099

    -------------------
    USDJPY :
    HIGH 97.617 LOW 97.175 BID 97.597 ASK 97.599 CHANGE 0.24% TIME 08 : 51:50



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

    Upwards scenario: Corrective action is possible today. Clearance of next resistance level at 97.56 (R1) would suggest next intraday targets at 97.75 (R2) and 97.96 (R3) later on today. Downwards scenario: On the other side, current price pattern suggests bearish potential if the instrument manages to overcome key support level at 97.15 (S1). Further price regress is liable to expose our initial targets at 96.96 (S2) and 96.77 (S3).

    Resistance Levels: 97.56, 97.75, 97.96
    Support Levels: 97.15, 96.96, 96.77

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

  7. #107

    Default Forex Technical & Market Analysis FXCC Oct 25 2013

    Forex Technical & Market Analysis FXCC Oct 25 2013

    Will the UK's GDP figure beat the expectation of 0.8%?

    A major publication, that could impact on the UK FTSE and the value of sterling, is the latest UK preliminary GDP figure, published courtesy of the UK's ONS. The expectation is that the print will come in at 0.8%, up from 0.7% in the previous quarter. The German IFO business index is predicted to come in at an improved 108.2. The EU economic summit is worth keeping aware of given the potential for a surprise policy announcement. Core durable goods orders in the USA are expected to come in at 0.6% up from the -0.1% figure last month. The dollar lost 0.2 percent to $1.3801 per euro late in New York and reached $1.3825, the weakest since November 2011. It fell 0.1 percent to 97.28 yen after touching 97.16 Wednesday, the lowest since Oct. 9th. Europe’s shared currency gained 0.1 percent to 134.26 yen after rising as much as 0.5 percent earlier and weakening 0.2 percent. The dollar slid to a two-year low versus the euro as weaker-than-forecast economic data and concern that U.S. growth was hurt by a government shutdown added to bets the Federal Reserve will delay slowing stimulus until next year. The loonie, as the Canadian dollar is known, fell by 0.4 percent to C$1.0422 per U.S. dollar in Toronto. It has dropped as much as 1.5 percent during the past two days and reaching the weakest since Sept. 9th. One loonie buys 95.95 U.S. cents. The Canadian dollar had the biggest two-day slump in four months after the central bank altered its forward guidance narrative regarding future interest-rate rises that had been in place for more than a year, as risks of a worsening economy have increased.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    24h | European Council meeting
    2013-10-25 08:00 GMT | DE IFO - Current Assessment (Oct)
    2013-10-25 08:30 GMT | UK Gross Domestic Product (YoY)
    2013-10-25 12:30 GMT | US Durable Goods Orders (Sep)

    FOREX NEWS :
    2013-10-25 05:03 GMT | USD/JPY collapses in tandem with Nikkei on highest Shibor since July
    2013-10-25 04:15 GMT | NZD/USD falls sharply amidst a better mood in Asian markets
    2013-10-25 04:14 GMT | EUR/USD keeps on testing 1.3820, break allows 1.3865
    2013-10-25 03:03 GMT | AUD/USD recovers support above 0.96

    ------------------
    EURUSD :
    HIGH 1.38323 LOW 1.37851 BID 1.38189 ASK 1.38193 CHANGE 0.13% TIME 08 : 37:41



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

    MARKET ANALYSIS - Intraday Analysis

    Upside risk aversion is seen above the next resistance level at 1.3846 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 1.3874 (R2) and 1.3902 (R3) in potential. Downwards scenario: Possible downside extension is limited now to the support level at 1.3785 (S1). Break here is required to open a route towards to next target at 1.3758 (S2) and then any further easing would be targeting final support at 1.3729 (S3).

    Resistance Levels: 1.3846, 1.3874, 1.3902
    Support Levels: 1.3785, 1.3758, 1.3729

    -------------------
    GBPUSD :
    HIGH 1.62469 LOW 1.61795 BID 1.62296 ASK 1.62298 CHANGE 0.18% TIME 08 : 37:42



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

    Upwards scenario: Current positive bias development might face next resistive measure at 1.6257 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.6287 (R2) and 1.6318 (R3). Downwards scenario: On the other hand, if the price clear the supportive measure at 1.6178 (S1), we would suggest next target at 1.6148 (S2) and then final attractive point could be found at 1.6117 (S3) later on today.

    Resistance Levels: 1.6257, 1.6287, 1.6318
    Support Levels: 1.6178, 1.6148, 1.6117

    ----------------------
    USDJPY :
    HIGH 97.433 LOW 96.944 BID 97.062 ASK 97.064 CHANGE -0.22% TIME 08 : 37:43



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

    Upwards scenario: Medium term bias remains negative and possible price appreciation is limited now to resistive barrier at 97.37 (R1). Clearance of that level would suggest next intraday targets at 97.55 (R2) and 97.73 (R3). Downwards scenario: On the downside next challenge is seen at 96.93 (S1). Breakthrough here would open road for a price depreciation towards to our initial targets at 96.75 (S2) and 96.57 (R3) in potential.

    Resistance Levels: 97.37, 97.55, 97.73
    Support Levels: 96.93, 96.75, 96.57

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

  8. #108

    Default Forex Technical & Market Analysis FXCC Oct 28 2013

    Forex Technical & Market Analysis FXCC Oct 28 2013

    China indicates the release of unprecedented economic measures when it holds its next government meeting.

    There are several USA high impact news events for Monday that could affect market sentiment. Pending home sales is expected to increase to 0.5% month on month from a surprise fall of -1.6% last month. Industrial production data is expected to increase to 0.5% month on month. Economists forecast no change in purchases, the worst reading in six months, after a 0.2 percent advance in August, according to a survey ahead of Commerce Department figures due Oct. 29th. Sales excluding motor vehicle dealers may have increased 0.4 percent in September, a sign other merchants had more success selling to customers. The RBA governor Stevens speaks later in the afternoon, investors in AUS and speculators in the Aussie will be looking for any clues regarding a base interest rate cut which appeared to be off the table in last week's notes from the RBA. Japan issues a raft of data on Monday; retail sales, unemployment and household spending which if poor the Nikkei could fall with a corresponding rise in yen as a safe haven. Retail sales are expected to rise, unemployment to fall to 4%, but household spending is also predicted to increase by 0.7%.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-28 13:15 GMT | US Industrial Production (MoM) (Sep)
    2013-10-28 14:00 GMT | US Pending Home Sales (YoY) (Sep)
    2013-10-28 22:30 GMT | RBA's Governor Glenn Stevens Speech
    2013-10-28 23:30 GMT | JP Unemployment Rate (Sep)

    FOREX NEWS :
    2013-10-28 06:37 GMT | EUR/GBP opens lower ahead of German data – trading range bound short-term
    2013-10-28 06:20 GMT | EUR/USD hovers around 1.3800, ahead of a batch of US data, FOMC
    2013-10-28 06:06 GMT | USD/CHF trading higher to start weak; technicians skeptical with 0.8750 downside target
    2013-10-28 05:04 GMT | GBP/USD consolidates around 1.6180 area, awaiting the severe storm in UK

    ------------------------
    EURUSD :
    HIGH 1.38177 LOW 1.37959 BID 1.38003 ASK 1.38005 CHANGE -0.02% TIME 08 : 49:13



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: EURUSD is approaching our key resistive measure at 1.3833 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.3862 (R2) and 1.3892 (R3). Downwards scenario: On the other hand, our next supportive barrier at 1.3775 (S1) prevents possible correction development. Break here is required to enable downside expansion towards to our intraday targets at 1.3745 (S2) and 1.3714 (S3).

    Resistance Levels: 1.3833, 1.3862, 1.3892
    Support Levels: 1.3775, 1.3745, 1.3714

    -------------------
    GBPUSD :
    HIGH 1.61895 LOW 1.61615 BID 1.61796 ASK 1.61798 CHANGE 0.1% TIME 08 : 49:14



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

    Upwards scenario: Possible penetration above the resistance level at 1.6205 (R1) is liable to open way towards to our initial targets at 1.6233 (R2) and 1.6261 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 1.6150 (S1). Loss here would suggest to monitor marks at 1.6123 (S2) and 1.6097 (S3) as possible intraday targets.

    Resistance Levels: 1.6205, 1.6233, 1.6261
    Support Levels: 1.6150, 1.6123, 1.6097

    ------------------
    USDJPY :
    HIGH 97.733 LOW 97.446 BID 97.587 ASK 97.591 CHANGE 0.2% TIME 08 : 49:15



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

    Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 97.74 (R1) might enable bullish forces and expose our initial targets at 97.87 (R2) and 98.00 (R3). Downwards scenario: Risk of further market decline is seen below the next support level at 97.44 (S1). Loss here is liable to downgrade currency rate towards to the next supportive means at 97.31 (S2) and 97.18 (S3) in potential.

    Resistance Levels: 97.74, 97.87, 98.00
    Support Levels: 97.44, 97.31, 97.18

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

  9. #109

    Default Forex Technical & Market Analysis FXCC Oct 29 2013

    Forex Technical & Market Analysis FXCC Oct 29 2013

    FOMC meeting starts as speculation mounts regarding potential taper of monetary easing programme

    Naturally most investor eyes will be fixed on any announcements from the first day of the FOMC meeting, clues as to tapering will be hawkishly observed. Net lending to individuals in the UK should print at 2.5 billion up from 1.6 billion the previous month. Similarly mortgage approvals should rise to 65K from 62K the previous month. Retail sales in the USA are expected to print at 0.2% up, with PPI up 0.2%. Annual house prices in the USA are expected to be up 12.4% year on year. The USA Conference Board sentiment index is expected in at 75.2 a fall from 79.7 the previous month. The bank of Canada governor Poloz is due to testify, along with Senior Deputy Governor Tiff Macklem, before the House of Commons Standing Committee on Finance, in Ottawa. The DJIA closed down 0.01% on Monday, the SPX up 0.13% and the NASDAQ down 0.08%. European indices were mixed, STOXX index down 0.42%, FTSE up 0.07%, CAC down 0.48%, DAX down 0.03%. The Athens exchange once again bucked the trend by closing up 1.37%. Commodities rallied on Monday, ICE WTI oil finished the day up 0.85% at $98.68 per barrel, NYMEX natural down 0.17% at $3.56 per therm, COMEX gold closed up 0.04% on the day at $1352.70 and silver down 0.06% at $22.52 per ounce. Oil rallied amid a drop in Libyan output and bets that central banks in America and Japan will maintain monetary stimulus. Looking towards the European open STOXX equity index future is down 0.36%, FTSE up 0.24%, CAC down 0.46% and DAX down 0.03%. The DJIA equity index future is currently down 0.03%, SPX down 0.02% and the NASDAQ down 0.27%.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-29 09:30 GMT | UK Mortgage Approvals (Sep)
    2013-10-29 12:30 GMT | US Retail Sales (MoM) (Sep)
    2013-10-29 14:00 GMT | US Consumer Confidence (Oct)
    2013-10-29 23:50 GMT | JP Industrial Production (YoY) (Sep)

    FOREX NEWS :
    2013-10-29 03:16 GMT | GBP/USD glued to 1.6085 support
    2013-10-29 02:55 GMT | USD/JPY exhausts after recovering session losses around 97.60
    2013-10-29 02:03 GMT | AUD/USD emerges from 0.9515 2-week lows; consolidating above 0.9540
    2013-10-29 01:21 GMT | EUR/USD pulling back gently. Is it anticipating bad data out of the US?

    -----------------
    EURUSD
    HIGH 1.37937 LOW 1.37693 BID 1.37856 ASK 1.37858 CHANGE 0% TIME 08 : 40:07



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3818 (R1). Clearance here would suggest next interim target at 1.3845 (R2) and then final aim locates at 1.3872 (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 1.3769 (S1). Penetration below this mark would suggest next targets at 1.3741 (S2) and 1.3714 (S3).

    Resistance Levels: 1.3818, 1.3845, 1.3872
    Support Levels: 1.3769, 1.3741, 1.3714

    ----------------
    GBPUSD :
    HIGH 1.61442 LOW 1.60643 BID 1.61024 ASK 1.61033 CHANGE -0.24% TIME 08 : 40:07



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

    Upwards scenario: Our next resistance level is placed at 1.6137 (R1). Break here would open route towards to higher target at 1.6161 (R2) and any further price advance would then be limited to 1.6185 (R3).Downwards scenario: On the other hand, possible downside expansion might face next hurdle at 1.6063 (S1). Break here is required to initiate bearish pressure and validate our immediate targets at 1.6040 (S2) and 1.6019 (S3) in potential.

    Resistance Levels: 1.6137, 1.6161, 1.6185
    Support Levels: 1.6063, 1.6040, 1.6019

    ---------------
    USDJPY :
    HIGH 97.717 LOW 97.462 BID 97.540 ASK 97.542 CHANGE -0.14% TIME 08 : 40:08



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

    Upwards scenario: Clearance of our next resistive barrier at 97.74 (R1) might push the price towards to our next visible targets at 97.87 (R2) and 98.00 (R3). Downwards scenario: Activation of bearish forces is possible below the support level at 97.44 (S1). Clearance here would suggest next interim target at 97.31 (S2) and if the price holds its momentum we would suggest final aim at 97.18 (S3).

    Resistance Levels: 97.74, 97.87, 98.00
    Support Levels: 97.44, 97.31, 97.18

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

  10. #110

    Default Forex Technical & Market Analysis FXCC Oct 30 2013

    Forex Technical & Market Analysis FXCC Oct 30 2013

    Tuesday's NFP day, let's be careful out there

    The big event of the day is the 18 day late publication of the NFP figures. Traders need to exercise caution as the figure might come in far better than predicted, but be subject to significant revisions due to the temporary govt. shutdown. The anticipation is for a print of 182K jobs created with the unemployment rate remaining steady at 7.3%. The benchmark 10-year yield rose two basis points, or 0.02 percentage point, to 2.60 percent as of 5 p.m in New York. The price of the 2.5 percent note due in August 2023 fell 6/32, or $1.88 per $1,000 face amount, to 99 1/8. The yield declined to 2.54 percent on Oct. 18th, the lowest since July 24th, down from a 2013 high of 3 percent on Sept. 6th.Treasury 10-year notes snapped a three-day advance before the NFP government report on Tuesday.
    Market Analysis | FXCC Blog

    FOREX ECONOMIC CALENDAR :
    2013-10-22 08:30 GMT | UK Public Sector Net Borrowing (Sep)
    2013-10-22 12:30 GMT | US Nonfarm Payrolls (Sep)
    2013-10-22 12:30 GMT | CA Retail Sales (MoM) (Aug)
    2013-10-22 23:00 GMT | AU CB Leading Indicator (Aug)

    FOREX NEWS :
    2013-10-22 05:15 GMT | Good Chinese data leads to little movement in the markets; traders await US data
    2013-10-22 05:09 GMT | Oil sits below $100, gold consolidates
    2013-10-22 04:35 GMT | GBP/USD grinds slowly lower ahead of NFP data
    2013-10-22 04:12 GMT | NFP likely no to have two-way directionality as usual - Rabobank

    ------------------
    EURUSD :
    HIGH 1.36806 LOW 1.36622 BID 1.36711 ASK 1.36713 CHANGE -0.07% TIME 08 : 43:23



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Possibility of further price progress is seen above the next resistance level at 1.3688 (R1). Breakthrough here would suggest interim target at 1.3704 (R2) and then mark at 1.3721 (R3) acts as next attractive point. Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.3651 (S1) is being able to drive market price towards to our next targets at 1.3635 (S2) and 1.3618 (S3).

    Resistance Levels: 1.3688, 1.3704, 1.3721
    Support Levels: 1.3651, 1.3635, 1.3618

    ----------------------
    GBPUSD :
    HIGH 1.61475 LOW 1.61154 BID 1.61274 ASK 1.61277 CHANGE -0.11% TIME 08 : 43:24



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

    Upwards scenario: Retracement formation remains in power. Our next resistive measure lies at 1.6148 (R1), break here is required to achieve higher targets at 1.6173 (R2) and 1.6199 (R3). Downwards scenario: Our bearish expectations remain intact below the key support level at 1.6115 (S1). Price penetration below it would allow further declines towards to lower targets at 1.6090 (S2) and 1.6065 (S3).

    Resistance Levels: 1.6148, 1.6173, 1.6199
    Support Levels: 1.6115, 1.6090, 1.6065

    USDJPY
    HIGH 98.364 LOW 98.136 BID 98.311 ASK 98.313 CHANGE 0.14% TIME 08 : 43:25



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

    Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 98.37 (R1), break here would suggest next intraday targets at 98.50 (R2) and 98.62 (R3). Downwards scenario: On the other hand, loss of our support level at 98.15 (S1) would open road for a market decline towards to our next target at 98.03 (S2). Any further price weakening would then be limited to final support at 97.90 (S3).

    Resistance Levels: 98.37, 98.50, 98.62
    Support Levels: 98.15, 98.03, 97.90

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

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