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Thread: Daily Market Roundup from FXCC

  1. #31

    Default Forex Technical & Market Analysis FXCC Apr 17 2013

    Forex Technical & Market Analysis FXCC Apr 17 2013

    IMF cuts global growth for fourth consecutive time, European recession likelihood 50%

    International Monetary Fund (IMF) trimmed its global growth forecast and urged European policy makers to use “aggressive” monetary policy as a second year of contraction leaves the euro area’s recovery lagging behind the rest of the world. The global economy will continue to grow a further 3.3% this year, less than the 3.5% forecast in January, after 3.2% growth in 2012, the fund noted today, cutting its prediction for this year a fourth consecutive time. Moreover, the Washington-based IMF sees the 17-country euro area shrinking 0.3% , compared with a 0.2% retreat in January, with France joining Spain and Italy in the contraction. “The main challenge is still very much in Europe,” IMF Chief Economist Olivier Blanchard said. “Europe should do everything it can to strengthen private demand. What this means is aggressive monetary policy and what this means is getting the financial system to be stronger -- it’s still not in great shape.” As central banks in U.S. and Japan enact unorthodox policies such as asset purchases to rekindle and reinvigorate demand, pressure is mounting on the European Central Bank to do more. The IMF report describes a “three-speed” recovery led by emerging markets including China, with the U.S. forging ahead and Europe trailing after fighting a debt crisis that has forced bailouts of five countries in the region.
    https://support.fxcc.com/email/technical/17042013/

    FOREX ECONOMIC CALENDAR :
    N/A | Germany. 10-y Bond Auctionctus
    2013-04-17 08:30 GMT | UK. Bank of England Minutes
    2013-04-17 14:00 GMT | Canada. BoC Interest Rate Decision
    2013-04-17 18:00 GMT | USA. Fed's Beige Book

    FOREX NEWS :
    2013-04-17 04:36 GMT | EUR/USD edges lower after impressive close above 1.3155 pivot
    2013-04-17 04:09 GMT | Medium-term bearish view on the Indian Rupee - Nomura
    2013-04-17 03:34 GMT | AUD/USD rejected from 1.04 resistance
    2013-04-17 03:32 GMT | EUR/AUD winning streak continues, more gains to follow?


    EURUSD :
    HIGH 1.31879 LOW 1.31699 BID 1.31740 ASK 1.31745 CHANGE -0.01% TIME 08:58:06



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: On the upside resistive structure at 1.3199 (R1) prevents further gains. Clearance here is required to open route towards to next target at 1.3225 (R2) and then final target could be triggered at 1.3251 (R3). Downwards scenario: Pair looks likely to test our supportive means today. Devaluation below the support at 1.3150 (S1) would initiate bearish pressure. On the way our next interim support at 1.3124 (S2) en route to final target at 1.3098 (S3).

    Resistance Levels: 1.3199, 1.3225, 1.3251
    Support Levels: 1.3150, 1.3124, 1.3098

    -----------------------
    GBPUSD :
    HIGH 1.53722 LOW 1.53479 BID 1.53479 ASK 1.53488 CHANGE -0.09% TIME 08:58:07



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

    Upwards scenario: Technically medium-term bias remains positive. Next resistive structure holds above the yesterday high at 1.5379 (R1). Break here would suggest marks at 1.5396 (R2) and 1.5411 (R3) as next visible targets. Downwards scenario: Downside expansion might face next hurdle at 1.5347 (S1). Break here is required to initiate stronger bearish pressure and validate our immediate targets at 1.5327 (S2) and 1.5307 (S3) in potential.

    Resistance Levels: 1.5379, 1.5396, 1.5411
    Support Levels: 1.5347, 1.5327, 1.5307

    -------------------
    USDJPY :
    HIGH 98.432 LOW 97.514 BID 98.323 ASK 98.328 CHANGE 0.8% TIME 08:58:08



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

    Upwards scenario: Any upside actions looks limited to resistance level at 98.58 (R1). Surpassing of this level might enable next target at 98.87 (R2) and any further gains would then be targeting final mark at 99.13 (R3) in potential. Downwards scenario: On the other hand, prolonged movement below the supportive measure at 98.08 (S1) might activate bearish pressure. Next aim for the downtrend expansion locates at 97.81 (S2) and then final target for today could be met at 97.52 (S3).

    Resistance Levels: 98.58, 98.87, 99.13
    Support Levels: 98.08, 97.81, 97.52

    Source: FX Central Clearing Ltd,( Forex ECN Broker | Free Forex Demo Accounts | FXCC )

  2. #32

    Default Forex Technical & Market Analysis FXCC Apr 18 2013

    Forex Technical & Market Analysis FXCC Apr 18 2013

    Weidmann opens the door to an ECB rate cut and foresees a lost decade in Europe

    Jens Weidmann, the Bundesbank’s president, has affirmed that the European Central Bank could cut its interest rates if economic data continues worsening, according to an interview published by WSJ. Market has been speculating about the possibilities of the ECB cutting rates and now with inflation below the 2.0% it seems more than likely in May or June. However, Weidmann said the ECB “might adjust in response to new information," but he doesn’t “think that the monetary policy stance is the key issue."

    "A point that I think is important to make, perhaps less for my central bank colleagues than for finance ministers,” Weidmann pointed, “is that the medication monetary policy makers administer only cures the symptoms and that it comes with side-effects and risks." In Weidmann's words, the important thing is the development of the reforms at the national and European level. The Bundesbank president also stated that the European recovery will take as much as a decade. The opinion is contrary to other European leaders who said that the worst of the crisis is over. "Overcoming the crisis and the crisis effects will remain a challenge over the next decade,” Weidmann affirmed.
    https://support.fxcc.com/email/technical/18042013/

    FOREX ECONOMIC CALENDAR :
    24h | G20 Finance Ministers and Central Bank Governors Meeting
    2013-04-18 08:30 GMT | UK. Retail Sales (YoY) (Mar)
    2013-04-18 12:30 GMT | USA. Initial Jobless Claims (Apr 13)
    2013-04-18 14:00 GMT | USA. Philadelphia Fed Manufacturing Survey (Apr)

    FOREX NEWS :
    2013-04-18 05:58 GMT | EUR/USD flat-lining around 1.3040/45
    2013-04-18 03:58 GMT | BoC unlikely to hike rates until H2 2014 - Nomura
    2013-04-18 03:17 GMT | Australia activity will soften into the June quarter – NAB
    2013-04-18 01:59 GMT | China house prices continue to rise


    EURUSD :
    HIGH 1.3061 LOW 1.30207 BID 1.30491 ASK 1.30496 CHANGE 0.12% TIME 09 : 05:28



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Price consolidates after the initial downtrend development yesterday. Price appreciation is possible above the next resistance level at 1.3061 (R1). Break here is required to enable intraday targets at 1.3081 (R2) and 1.3102 (R3). Downwards scenario: On the other hand, technically important supportive structure lies at 1.3001 (S1). If the price manages to overcome it, we would suggest next initial targets at 1.2979 (S2) and 1.2957 (S3) in perspective.

    Resistance Levels: 1.3061, 1.3081, 1.3102
    Support Levels: 1.3001, 1.2979, 1.2957

    -------------------------
    GBPUSD :
    HIGH 1.52557 LOW 1.52328 BID 1.52532 ASK 1.52538 CHANGE 0.07% TIME 09 : 05:29



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

    Upwards scenario: GBPUSD maintained a negative near-term tone though recovery action is possible above the next visible resistance at 1.5270 (R1). Clearance here might initiate bullish pressure and validate our next targets at 1.5287 (R2) and 1.5304 (R3). Downwards scenario: On the downside our focus is shifted to the next support level at 1.5216 (S1). Loss here is required to push the price towards to our next interim targets at 1.5199 (S2) en route towards to final support at 1.5182 (S3)

    Resistance Levels: 1.5270, 1.5287, 1.5304
    Support Levels: 1.5216, 1.5199, 1.5182


    USDJPY :
    HIGH 98.367 LOW 97.634 BID 98.064 ASK 98.069 CHANGE -0.05% TIME 09 : 05:30



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

    Upwards scenario: Next visible fractal level locates at 98.44 (R1). Violation here is required to provide a signal of possible uptrend formation. In such case, resistances at 98.70 (R2) and 98.96 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: Negative developments might be settled below the important support level at 97.81 (S1). Any price action below it would then be targeting support at 97.56 (S2) and final target could be exposed at 97.29 (S3) mark.

    Resistance Levels: 98.44, 98.70, 98.96
    Support Levels: 97.81, 97.56, 97.29

    Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

  3. #33

    Default Forex Technical & Market Analysis FXCC Apr 18 2013

    Forex Technical & Market Analysis FXCC Apr 18 2013

    Weidmann opens the door to an ECB rate cut and foresees a lost decade in Europe

    Jens Weidmann, the Bundesbank’s president, has affirmed that the European Central Bank could cut its interest rates if economic data continues worsening, according to an interview published by WSJ. Market has been speculating about the possibilities of the ECB cutting rates and now with inflation below the 2.0% it seems more than likely in May or June. However, Weidmann said the ECB “might adjust in response to new information," but he doesn’t “think that the monetary policy stance is the key issue."

    "A point that I think is important to make, perhaps less for my central bank colleagues than for finance ministers,” Weidmann pointed, “is that the medication monetary policy makers administer only cures the symptoms and that it comes with side-effects and risks." In Weidmann's words, the important thing is the development of the reforms at the national and European level. The Bundesbank president also stated that the European recovery will take as much as a decade. The opinion is contrary to other European leaders who said that the worst of the crisis is over. "Overcoming the crisis and the crisis effects will remain a challenge over the next decade,” Weidmann affirmed.
    https://support.fxcc.com/email/technical/18042013/

    FOREX ECONOMIC CALENDAR :
    24h | G20 Finance Ministers and Central Bank Governors Meeting
    2013-04-18 08:30 GMT | UK. Retail Sales (YoY) (Mar)
    2013-04-18 12:30 GMT | USA. Initial Jobless Claims (Apr 13)
    2013-04-18 14:00 GMT | USA. Philadelphia Fed Manufacturing Survey (Apr)

    FOREX NEWS :
    2013-04-18 05:58 GMT | EUR/USD flat-lining around 1.3040/45
    2013-04-18 03:58 GMT | BoC unlikely to hike rates until H2 2014 - Nomura
    2013-04-18 03:17 GMT | Australia activity will soften into the June quarter – NAB
    2013-04-18 01:59 GMT | China house prices continue to rise


    EURUSD :
    HIGH 1.3061 LOW 1.30207 BID 1.30491 ASK 1.30496 CHANGE 0.12% TIME 09 : 05:28



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Price consolidates after the initial downtrend development yesterday. Price appreciation is possible above the next resistance level at 1.3061 (R1). Break here is required to enable intraday targets at 1.3081 (R2) and 1.3102 (R3). Downwards scenario: On the other hand, technically important supportive structure lies at 1.3001 (S1). If the price manages to overcome it, we would suggest next initial targets at 1.2979 (S2) and 1.2957 (S3) in perspective.

    Resistance Levels: 1.3061, 1.3081, 1.3102
    Support Levels: 1.3001, 1.2979, 1.2957

    -------------------------
    GBPUSD :
    HIGH 1.52557 LOW 1.52328 BID 1.52532 ASK 1.52538 CHANGE 0.07% TIME 09 : 05:29



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

    Upwards scenario: GBPUSD maintained a negative near-term tone though recovery action is possible above the next visible resistance at 1.5270 (R1). Clearance here might initiate bullish pressure and validate our next targets at 1.5287 (R2) and 1.5304 (R3). Downwards scenario: On the downside our focus is shifted to the next support level at 1.5216 (S1). Loss here is required to push the price towards to our next interim targets at 1.5199 (S2) en route towards to final support at 1.5182 (S3)

    Resistance Levels: 1.5270, 1.5287, 1.5304
    Support Levels: 1.5216, 1.5199, 1.5182


    USDJPY :
    HIGH 98.367 LOW 97.634 BID 98.064 ASK 98.069 CHANGE -0.05% TIME 09 : 05:30



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

    Upwards scenario: Next visible fractal level locates at 98.44 (R1). Violation here is required to provide a signal of possible uptrend formation. In such case, resistances at 98.70 (R2) and 98.96 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: Negative developments might be settled below the important support level at 97.81 (S1). Any price action below it would then be targeting support at 97.56 (S2) and final target could be exposed at 97.29 (S3) mark.

    Resistance Levels: 98.44, 98.70, 98.96
    Support Levels: 97.81, 97.56, 97.29

    Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

  4. #34

    Default Forex Technical & Market Analysis FXCC Apr 22 2013

    Forex Technical & Market Analysis FXCC Apr 22 2013

    Japan escapes censure on the G-20 meeting

    he G-20 communiqué provied little fresh headlines to market participants, with the main take away on FX-relate news being the permissive stance towards Japan's monetary policies to beat deflation. The G20 communiqué is basically echoing the same position by the G7 back in February. As noted by Eamonn Sheridan of Forexlive: "Leading into the G20 meeting market concern was that Japan would come under fire for its deflation-fighting policies (which have, as a side-effect, a weaker yen or are have as a central component the aim of a weaker yen, depending on your point of view). It became clear on Friday that Japan had escaped censure from the G20 over its policies, a position made officially clear at the conclusion of the meetings."

    The section in the G20 communique that makes references to currencies, stated: "We reiterate our commitments to move more rapidly toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, and avoid persistent exchange rate misalignments. We will refrain from competitive devaluation and will not target our exchange rates for competitive purposes, and we will resist all forms of protectionism and keep our markets open." It added: "We reiterate that excess volatility of financial flows and disorderly movements in exchange rates have adverse implications for economic and financial stability. Monetary policy should be directed toward domestic price stability and continuing to support economic recovery according to the respective mandates of central banks. We will be mindful of unintended negative side effects stemming from extended periods of monetary easing."
    FXCC Forex Trading Blog


    FOREX ECONOMIC CALENDAR :
    2013-04-22 08:00 GMT | Switzerland. Monthly Statistical Bulletin
    2013-04-22 12:30 GMT | USA. Chicago Fed National Activity Index (Mar)
    2013-04-22 14:00 GMT | EMU. Consumer Confidence (Apr)Preliminar
    2013-04-22 14:00 GMT | USA. Existing Home Sales Change (MoM) (Mar)


    FOREX ECONOMIC CALENDAR :
    2013-04-22 04:41 GMT | USD/JPY marches towards 100.00, BOJ rate decision due out end of week
    2013-04-22 04:01 GMT | USD and Yen ease post-G20; Napolitano reelected
    2013-04-22 03:23 GMT | Prefer to keep selling GBP/USD – RBS
    2013-04-22 02:52 GMT | EUR/USD drifting sideways as range bound behavior continues

    -----------------------------------------------------------------
    Forex Technical Analysis EURUSD :



    MARKET ANALYSIS – Intraday Analysis

    Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 1.3084 (R1). Break here would open road towards to our interim aim at 1.3097 (R2) and enable final intraday resistive measure at 1.3110 (R3). Downwards scenario: Failure to establish positive bias today might lead to the recovery action in near term perspective. Next immediate support locates at 1.3046 (S1). Break here is required to enable bearish pressure towards to our targets at 1.3033 (S2) and 1.3020 (S3).

    Resistance Levels: 1.3084, 1.3097, 1.3110
    Support Levels: 1.3046, 1.3033, 1.3020

    --------------------------------------------------------------
    Forex Technical Analysis GBPUSD :



    Upwards scenario: Upside risk aversion is seen above the next resistance level at 1.5251 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 1.5269 (R2) and 1.5287 (R3). Downwards scenario: Negative tendency development might occur below the key support level at 1.5216 (S1). Break here would open road towards to next supportive measure at 1.5198 (S2) and then final supportive bastion could be found at 1.5180 (S3).

    Resistance Levels: 1.5251, 1.5269, 1.5287
    Support Levels: 1.5216, 1.5198, 1.5180

    ------------------------------------------------------------
    Forex Technical Analysis USDJPY :



    Upwards scenario: Intraday market sentiment is shifted to the negative side after the losses provided during the Asian session, however market appreciation is possible above the next resistance at 99.89 (R1). Loss here would suggest next intraday targets at 100.19 (R2) and 100.49 (R3). Downwards scenario: Possibility of the price depreciation is seen below the next support level at 99.37 (S1). Break here could provide sufficient momentum and expose our next intraday targets at 99.05 (S2) and 98.75 (S3).

    Resistance Levels: 99.89, 100.19, 100.49
    Support Levels: 99.37, 99.05, 98.75

    Source: FX Central Clearing Ltd,( Forex Trading System | Forex Trading Software | Best ECN Broker | FXCC )

  5. #35

    Default Forex Technical & Market Analysis FXCC Apr 22 2013

    Forex Technical & Market Analysis FXCC Apr 22 2013

    Japan escapes censure on the G-20 meeting

    he G-20 communiqué provied little fresh headlines to market participants, with the main take away on FX-relate news being the permissive stance towards Japan's monetary policies to beat deflation. The G20 communiqué is basically echoing the same position by the G7 back in February. As noted by Eamonn Sheridan of Forexlive: "Leading into the G20 meeting market concern was that Japan would come under fire for its deflation-fighting policies (which have, as a side-effect, a weaker yen or are have as a central component the aim of a weaker yen, depending on your point of view). It became clear on Friday that Japan had escaped censure from the G20 over its policies, a position made officially clear at the conclusion of the meetings."

    The section in the G20 communique that makes references to currencies, stated: "We reiterate our commitments to move more rapidly toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, and avoid persistent exchange rate misalignments. We will refrain from competitive devaluation and will not target our exchange rates for competitive purposes, and we will resist all forms of protectionism and keep our markets open." It added: "We reiterate that excess volatility of financial flows and disorderly movements in exchange rates have adverse implications for economic and financial stability. Monetary policy should be directed toward domestic price stability and continuing to support economic recovery according to the respective mandates of central banks. We will be mindful of unintended negative side effects stemming from extended periods of monetary easing."
    FXCC Forex Trading Blog


    FOREX ECONOMIC CALENDAR :
    2013-04-22 08:00 GMT | Switzerland. Monthly Statistical Bulletin
    2013-04-22 12:30 GMT | USA. Chicago Fed National Activity Index (Mar)
    2013-04-22 14:00 GMT | EMU. Consumer Confidence (Apr)Preliminar
    2013-04-22 14:00 GMT | USA. Existing Home Sales Change (MoM) (Mar)


    FOREX ECONOMIC CALENDAR :
    2013-04-22 04:41 GMT | USD/JPY marches towards 100.00, BOJ rate decision due out end of week
    2013-04-22 04:01 GMT | USD and Yen ease post-G20; Napolitano reelected
    2013-04-22 03:23 GMT | Prefer to keep selling GBP/USD – RBS
    2013-04-22 02:52 GMT | EUR/USD drifting sideways as range bound behavior continues

    -----------------------------------------------------------------
    Forex Technical Analysis EURUSD :



    MARKET ANALYSIS – Intraday Analysis

    Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 1.3084 (R1). Break here would open road towards to our interim aim at 1.3097 (R2) and enable final intraday resistive measure at 1.3110 (R3). Downwards scenario: Failure to establish positive bias today might lead to the recovery action in near term perspective. Next immediate support locates at 1.3046 (S1). Break here is required to enable bearish pressure towards to our targets at 1.3033 (S2) and 1.3020 (S3).

    Resistance Levels: 1.3084, 1.3097, 1.3110
    Support Levels: 1.3046, 1.3033, 1.3020

    --------------------------------------------------------------
    Forex Technical Analysis GBPUSD :



    Upwards scenario: Upside risk aversion is seen above the next resistance level at 1.5251 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 1.5269 (R2) and 1.5287 (R3). Downwards scenario: Negative tendency development might occur below the key support level at 1.5216 (S1). Break here would open road towards to next supportive measure at 1.5198 (S2) and then final supportive bastion could be found at 1.5180 (S3).

    Resistance Levels: 1.5251, 1.5269, 1.5287
    Support Levels: 1.5216, 1.5198, 1.5180

    ------------------------------------------------------------
    Forex Technical Analysis USDJPY :



    Upwards scenario: Intraday market sentiment is shifted to the negative side after the losses provided during the Asian session, however market appreciation is possible above the next resistance at 99.89 (R1). Loss here would suggest next intraday targets at 100.19 (R2) and 100.49 (R3). Downwards scenario: Possibility of the price depreciation is seen below the next support level at 99.37 (S1). Break here could provide sufficient momentum and expose our next intraday targets at 99.05 (S2) and 98.75 (S3).

    Resistance Levels: 99.89, 100.19, 100.49
    Support Levels: 99.37, 99.05, 98.75

    Source: FX Central Clearing Ltd,( Forex Trading System | Forex Trading Software | Best ECN Broker | FXCC )

  6. #36

    Default Forex Technical & Market Analysis FXCC Apr 23 2013

    Forex Technical & Market Analysis FXCC Apr 23 2013

    Slovenia Bailout Would Be Spanish-Cypriot Mongrel

    The ink on the provisional bailout agreement for Cyprus was hardly dry last month before bond markets shifted their attention to Slovenia, another small euro- area country with a banking problem. The Slovenian government’s borrowing costs subsequently shot up. The fear that Slovenia might be the next Cyprus, with international creditors again forcing losses onto bank bondholders and uninsured depositors, is only partly justified. Slovenia isn’t Cyprus, and its rescue program, when it comes, will probably look like a hybrid between the Spanish-style bailout and the Cyprus-style bail-in.
    https://support.fxcc.com/email/technical/23042013/

    FOREX ECONOMIC CALENDAR :
    2013-04-23 07:28 GMT | Germany. Markit Manufacturing PMI
    2013-04-23 07:58 GMT | EMU. Markit Manufacturing PMI
    2013-04-23 14:00 GMT | US. New Home Sales
    2013-04-23 21:00 GMT | NZ. RBNZ Interest Rate Decision

    FOREX ECONOMIC CALENDAR :
    2013-04-23 04:19 GMT | Upcoming economic data the catalyst for EUR/USD?
    2013-04-23 04:08 GMT | USD remains our currency of choice - JPMorgan
    2013-04-23 03:29 GMT | EUR/JPY consolidates around 129.00 support, Eur PMI on tap
    2013-04-23 02:52 GMT | USD/JPY breaks below 99.00 bids


    --------------------------
    EURUSD :
    HIGH 1.30677 LOW 1.30328 BID 1.30415 ASK 1.30419 CHANGE -0.19% TIME 08 : 40:20



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: EURUSD determined clear sideways tone on the medium-term timeframe. Possibility of market appreciation is seen above the resistance level at 1.3056 (R1). Break here is required to validate next targets at 1.3069 (R2) and 1.3082 (R3). Downwards scenario: Fresh portion of the economic data releases might increase volatility later on today. The 1.3032 (S1) mark is key support level on the downside. Below here is a route towards to next supports at 1.3019 (S2) and 1.3005 (S3).

    Resistance Levels: 1.3056, 1.3069, 1.3082
    Support Levels: 1.3032, 1.3019, 1.3005

    ----------------------------
    GBPUSD :
    HIGH 1.52979 LOW 1.52544 BID 1.52593 ASK 1.52598 CHANGE -0.2% TIME 08 : 40:21



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

    Upwards scenario: Neutral tone remains in power on the hourly chart frame. Next resistance is seen at 1.5280 (R1). Clearance here is required for instrument strengthening towards to our initial targets at 1.5297 (R2) and 1.5312 (R3). Downwards scenario: If the price failed to overcome our next resistance level we expect market easing below the support level at 1.5248 (S1). Loss here would shift our technical outlook to the bearish side with expected targets at 1.5232 (S2) and 1.5216 (S3).

    Resistance Levels: 1.5280, 1.5297, 1.5312
    Support Levels: 1.5248, 1.5232, 1.5216

    -----------------------
    USDJPY :
    HIGH 99.384 LOW 98.589 BID 98.693 ASK 98.695 CHANGE -0.53% TIME 08 : 40:22



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

    Upwards scenario: USDJPY trades under the bearish pressure today and posting new local lows. Though break above the resistance at 99.35 (R1) would suggest next interim target at 99.73 (R1) en route towards to final aim at 100.13 (R3). Downwards scenario: On the other hand, an element of supportive measures is found at 98.53 (S1). Clearance here would suggest further downtrend development towards to possible targets at 98.16 (S2) and 97.76 (S3).

    Resistance Levels: 99.35, 99.73, 100.13
    Support Levels: 98.53, 98.16, 97.76

    Source: FX Central Clearing Ltd,( Automated Forex Trading System | Best ECN Forex Brokers | FXCC )

  7. #37

    Default Forex Technical & Market Analysis FXCC Apr 24 2013

    Forex Technical & Market Analysis FXCC Apr 24 2013

    Spain might get EU deficit target extension

    The EU signalized on Tuesday that Spain might be granted two more years to reach the deficit target. Additionally, the President of the European Commission José Manuel Durão Barroso said yesterday that 2013 deficit targets for other EU countries could also be eased. EU sources suggested that the European Commission could allow Spain to have a budget deficit of 6.5% this year and that deadline for it to reach 3% could be extended by two more years. Barroso said that the correction of budgetary imbalances in Greece, Portugal and Spain has been very impressive and that the European Commission is considering extending the deadlines for the correction of excessive deficits also for other EU Member States, as the objective is to combine the adjustment of deficits and debt with growth in the short term.

    Yesterday weak German PMI data release (47.9 actual vs. 49.1 estimates) fueled more talk of possible ECB rate cuts in the coming months. Although the EURUSD did close below the 1.3000 level, some analysts found the lack of follow through to the downside impressive and believe the key will be to see how it reacts to data in coming sessions. The main report due out today will be the German IFO which is released at 8:00 GMT. Economic data out of the UK is light in the coming session, with Mortgage Approvals due out at 8:30 GMT. The US session will also be fairly quiet with Durable Goods due out at 12:30 GMT.
    https://support.fxcc.com/email/technical/24042013/

    FOREX ECONOMIC CALENDAR :
    2013-04-24 08:00 GMT | Germany. IFO - Business Climate
    2013-04-24 08:30 GMT | UK. BBA Mortgage Approvals
    2013-04-24 12:30 GMT | USA. Durable Goods Orders
    2013-04-24 20:15 GMT | Canada. BoC Governor Mark Carney Speech

    FOREX ECONOMIC CALENDAR :
    2013-04-24 04:26 GMT | EUR/USD pressured by German PMI data, German IFO on tap next
    2013-04-24 03:08 GMT | GBP/USD still forming possible “bear flag” on daily chart
    2013-04-24 02:25 GMT | AUD/JPY still range bound after Aussie CPI data disappoints
    2013-04-24 02:09 GMT | NZD/USD eases below 0.8450

    ----------------------------
    EURUSD :
    HIGH 1.30104 LOW 1.29882 BID 1.30053 ASK 1.30059 CHANGE 0.03% TIME 08:44:38



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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Instrument gained momentum on the downside recently, turning short-term bias to the negative side. However upwards penetration above the resistance at 1.3012 (R1) would enable bullish forces and might drive market price towards to our initial targets at 1.3031 (R2) and 1.3051 (R3). Downwards scenario: Fresh low formed today offers an important supportive mark at 1.2987 (S1). Depreciation below it might shift medium-term tendency to the bearish side and validate our next intraday targets at 1.2970 (S2) and 1.2953 (S3).

    Resistance Levels: 1.3012, 1.3031, 1.3051
    Support Levels: 1.2987, 1.2970, 1.2953

    ----------------------------
    GBPUSD :
    HIGH 1.52502 LOW 1.52265 BID 1.52483 ASK 1.52491 CHANGE 0.08% TIME 08:44:38



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

    Upwards scenario: Upside formation is limited now to the next resistive barrier at 1.5253 (R1). Clearance here is required to provide a space for a move towards to next target at 1.5267 (R2) and then final aim would be 1.5282 (R3). Downwards scenario: On the other side, any prolonged movement below the support at 1.5225 (S1) might enable downside forces and drive market price towards to supportive means at 1.5211 (S2) and 1.5197 (S3) later on today

    Resistance Levels: 1.5253, 1.5267, 1.5282
    Support Levels: 1.5225, 1.5211, 1.5197

    ----------------------------
    USDJPY :
    HIGH 99.761 LOW 99.193 BID 99.386 ASK 99.391 CHANGE -0.06% TIME 08:44:39



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

    Upwards scenario: USDJPY trapped to the consolidation phase after the upside development. Fresh high at 99.77 (R1) offers a good resistance level. Break here is required to take the pair towards to initial targets at 100.13 (R2) and 100.48 (R3). Downwards scenario: On the other hand, prolonged movement below the initial support level at 99.15 (S1) might trigger protective orders execution and drive market price towards to supportive means at 98.77 (S2) and 98.40 (S3).

    Resistance Levels: 99.77, 100.13, 100.48
    Support Levels: 99.15, 98.77, 98.40

    Source: FX Central Clearing Ltd,( ECN Exchange Market FX Brokers | Forex Blog | Currency Converter | FXCC )

  8. #38

    Default Forex Technical & Market Analysis FXCC Apr 25 2013

    Forex Technical & Market Analysis FXCC Apr 24 2013

    Enrico Letta named Italian PM

    Italian President Giorgio Napolitano, who was reelected to the post last weekend, has given the mandate to form a government to center-left deputy leader Enrico Letta on Wednesday.After accepting the nomination the new Italian Prime Minister said that he would form "a government of service to the country." He stressed that politics in Italy should regain credibility in order to make head against the crisis. He said that the situation in Italy was very difficult at the moment and that the most urgent issues which should be addressed were unemployment, poverty and problems faced by small businesses. He suggested that the Eurozone should not press so much for austerity and rather focus on boosting growth in the area. 46 year old Enrico Letta is the second youngest Prime Minister in the history of Italian politics. He is the nephew of Gianni Letta, Silvio Berlusconi's close ally and despite his young age he has extensive government experience (he held various ministerial positions in the Italian government and served as a Member of the European Parliament for the North-East region) The cabinet formed by Letta will receive support mainly from Berlusconi's People of Freedom (PDL) party, Letta's Democratic Party (PD) and Mario Monti's centrist Civic Choice.
    FXCC Forex Trading Blog

    FOREX ECONOMIC CALENDAR :
    2013-04-25 08:30 GMT | UK. Gross Domestic Product
    2013-04-25 12:30 GMT | USA. US Initial Jobless Claims
    2013-04-25 14:00 GMT | USA. Treasury Sec Lew Speech
    2013-04-25 23:30 GMT | Japan. National Consumer Price Index

    FOREX ECONOMIC CALENDAR :
    2013-04-25 05:04 GMT | Window still open for the Yen to recover – JPMorgan
    2013-04-25 04:31 GMT | EUR/USD – Will next week’s ECB Rate decision end the range bound behavior?
    2013-04-25 03:28 GMT | GBP/USD buoyed by Verizon/Vodafone buzz
    2013-04-25 02:25 GMT | AUD/USD drifting higher towards resistance at 1.0345

    --------------------------------------------------------
    Forex Technical Analysis EURUSD



    MARKET ANALYSIS – Intraday Analysis

    Upwards scenario: Retracement action is reasonable scenario for EURUSD today. Our focus is shifted to the key resistive barrier at 1.3061 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.3079 (R2) and 1.3096 (R3). Downwards scenario: Possible downside expansion would attack our support levels at 1.3017 (S2) and 1.3000 (S3). However prior reaching our targets, market should manage to overcome key resistive structure at 1.3034 (S1).

    Resistance Levels: 1.3061, 1.3079, 1.3096
    Support Levels: 1.3034, 1.3017, 1.3000

    ------------------------------------------------------------
    Forex Technical Analysis GBPUSD



    Upwards scenario: The recent price acceleration on the upside suggests a possible move higher. Next on tap is resistive barrier at 1.5334 (R1) on the way towards to higher targets at 1.5347 (R2) and 1.5361 (R3). Downwards scenario: On the other hand, if the price failed to gain momentum on the upside we expect retest of our next support level at 1.5298 (S1). Clearance here is required to keep the downside extension intact and enable our lower targets at 1.5285 (S2) and 1.5270 (S3).

    Resistance Levels: 1.5334, 1.5347, 1.5361
    Support Levels: 1.5298, 1.5285, 1.5270

    ------------------------------------------------------------
    Forex Technical Analysis USDJPY



    Upwards scenario: Measures of resistance might be activating when the pair approaches the 99.77 (R1) mark. Break here would suggest next interim target at 100.13 (R2) and If the price keeps its momentum we expect an exposure of 100.48 (R3). Downwards scenario: Signal of instrument depreciation would be created below the next support level at 99.15 (S1). In such case we would suggest next interim target at 98.77 (S2) and then our final aim at 98.40 (S3).

    Resistance Levels: 99.77, 100.13, 100.48
    Support Levels: 99.15, 98.77, 98.40

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

  9. #39

    Default Forex Technical & Market Analysis FXCC Apr 29 2013

    Forex Technical & Market Analysis FXCC Apr 29 2013

    EUR/USD – The week we’ve all been waiting for? ECB and Fed meetings on tap

    EUR/USD has started the week off on a strong note, benefiting from the headlines that Enrico Letta has been elected as the new Italian Prime Minister. At one point earlier in the session, the pair had traded as high as 1.3068, but is now back to consolidating near the opening print of 1.3050. According to analysts at FXStreet.com, “After two months of an irreconcilable political deadlock, Enrico Letta, 46, and member of the centre-left Democratic Party (PD), was sworn in as new Italian Prime Minister on Sunday. Letta, who has managed to pull together a 21-member Cabinet, while becoming the third youngest Prime Minister since World War II, nominated an unprecedented seven women to his Cabinet. Fabrizio Saccomanni was appointed finance minister, taking on the responsibility to overlook and bring forward much needed economic reforms to the economy.”

    The main event later this week will be the upcoming ECB Monetary Policy meeting on May 2nd at 11:45 GMT. Analysts have been pointing to the weak economic data from Germany, and continued dovish comments from ECB officials as a good reason to expect an adjustment to current policy.
    FXCC Forex Trading Blog


    FOREX ECONOMIC CALENDAR
    2013-04-29 12:00 GMT DE. Consumer Price Index (YoY) (Apr)Preliminar
    2013-04-29 12:00 GMT DE. Consumer Price Index (MoM) (Apr)Preliminar
    2013-04-29 12:00 GMT DE. Harmonised Index of Consumer Prices (MoM) (Apr)Preliminar
    2013-04-29 12:00 GMT DE. Harmonised Index of Consumer Prices (YoY) (Apr)Preliminar

    FOREX NEWS
    2013-04-29 04:14 GMT EUR/USD – The week we’ve all been waiting for? ECB and Fed meetings on tap
    2013-04-29 03:58 GMT AUD/USD to stay near 1.05 next few quarters
    2013-04-29 03:04 GMT USD/JPY continues to trade lower, breaks through initial support of 97.55
    2013-04-29 00:31 GMT GPB/USD adds to gains during Asia session

    -------------------------------------------------------------
    Forex Technical Analysis EURUSD


    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 1.3076 (R1). Price evaluation above this level would suggest next targets at 1.3094 (R2) and 1.3111 (R3). Downwards scenario: Price regress below the support level at 1.3037 (S1) would increase likelihood of failing towards to our key supportive barrier at 1.3026 (S2) and any further market decline would then be targeting final support for today at 1.3014 (S3).

    Resistance Levels: 1.3076, 1.3094, 1.3111
    Support Levels: 1.3037, 1.3026, 1.3014

    ------------------------------------------------------
    Forex Technical Analysis GBPUSD



    Upwards scenario: On the upside potential is seen for a break above the resistance at 1.5525 (R1). In such case we would suggest next target at 1.5546 (R2) and any further rise would then be limited to final resistance at 1.5571 (R3). Downwards scenario: Further correction development is limited now to 1.5481 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.5454 (S2) and 1.5426 (S3).

    Resistance Levels: 1.5525, 1.5546, 1.5571
    Support Levels: 1.5481, 1.5454, 1.5426

    ----------------------------------------------------------
    Forex Technical Analysis USDJPY

    Upwards scenario: Market comfortably moves in descending channel formation on the hourly chart. If pair gains momentum on the upside and overcome our next resistance at 97.97 (R1), we would suggest next resistances at 98.16 (R2) and 98.34 (R3) as intraday targets. Downwards scenario: On the other hand, successful retest of our next support level at 97.45 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 97.27 (S2). Final aim for today locates at 97.08 (S3).

    Resistance Levels: 97.97, 98.16, 98.34
    Support Levels: 97.45, 97.27, 97.08

  10. #40

    Default Forex Technical & Market Analysis FXCC Apr 30 2013

    Forex Technical & Market Analysis FXCC Apr 30 2013

    The Fed will most likely keep its policy unchanged

    On Monday, global core bonds easily recouped an early session dip triggered by the formation of an Italian government, which received the confidence of parliament yesterday. Furthermore, equities kept a positive tone and closed with moderate gains. However, core bonds ignored equities and traded sideways in a tight range, once initial losses were recouped. By the end of trading, German yields were less than 1 bp from Friday’s close. US yields were virtually unchanged too, with the exception of the 30-yr (+ 1.7 bps).

    In other news, inflation figures of Germany, Belgium and Spain showed a sharp slowing, while the EU confidence data were a bit weaker than expected. They were bond supportive, but we didn’t see a reaction upon publication. US eco data (see news section) were largely ignored. Bond auctions in Italy and Belgium went well (see below).
    https://support.fxcc.com/email/technical/30042013/

    FOREX ECONOMIC CALENDAR :
    2013-04-30 12:30 GMT : CAD.Gross Domestic Product (MoM) (Feb)
    2013-04-30 13:45 GMT : USA.Chicago Purchasing Managers' Index (Apr)
    2013-04-30 14:00 GMT : USA.Consumer Confidence (Apr)
    2013-04-30 22:30 GMT : AUS.AiG Performance of Mfg Index (Apr)

    FOREX NEWS :
    2013-04-30 07:09 GMT : EUR/USD dips to 1.3075/80 on Spanish GDP
    2013-04-30 07:01 GMT : USD/CHF erases losses after German retail sales
    2013-04-30 06:45 GMT : USD/JPY at lows of 97.70 after jump to 98.13 high
    2013-04-30 06:31 GMT : GBP/USD below 1.5500 ahead of UK data

    ------------------
    EURUSD :
    HIGH 1.31205 LOW 1.30668 BID 1.30732 ASK 1.30737 CHANGE -0.19% TIME 10 : 57:22



    OUTLOOK SUMMARY : Down
    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 1.3103 (R1). In such case we would suggest next target at 1.3121(R2) and any further rise would then be limited to final resistance at 1.3135 (R3). Downwards scenario: Penetration below the support at 1.3076 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.3062 (S2) and 1.3045 (S3) might be triggered.

    Resistance Levels: 1.3103, 1.3121, 1.3135
    Support Levels: 1.3076, 1.3062, 1.3045

    ------------------
    GBPUSD :
    HIGH 1.55066 LOW 1.54681 BID 1.54906 ASK 1.54909 CHANGE -0.06% TIME 10 : 57:23



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

    Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 1.5534 (R1) would enable bullish pressure and open route towards to our next targets at 1.5560 (R2) and 1.5583 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.5469 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 1.5433 (S2). Final aim for today locates at 1.5401 (S3).

    Resistance Levels: 1.5534, 1.5560, 1.5583
    Support Levels: 1.5469, 1.5433, 1.5401

    -----------------------
    USDJPY :
    HIGH 98.125 LOW 97.673 BID 97.814 ASK 97.816 CHANGE 0.06% TIME 10 : 57:23



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

    Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 92.02 (R1). Price extension above it is required to validate our next intraday targets at 98.16 (R2) and 98.30 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 97.59 (S1). Break here is required to open a route towards to next target at 97.42 (S2) and then any further easing would be targeting final support at 97.27 (S3).

    Resistance Levels: 98.02, 98.16, 98.30
    Support Levels: 97.59, 97.42, 97.27

    Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

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