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Daily Forex Market by FXCC 17Mai2012

Thu, 17 May 2012 07:23:23 +0000

Daily Forex Market by FXCC 17Mai2012

Negative Sentiment and Risk Aversion Continue

Positive US economic data failed to lift markets. While US April housing starts were higher and industrial production rebounded, US markets sold off as the trading session continued, slipping on news that the ECB might cut funding to Greek banks. US equity indices were down by roughly 0.5% while Canadian equities performed somewhat more strongly. WTI fell by US$1.30 to close at $92.68 and the DXY was up moderately on the session. For a full write-up of today’s US and Canada economic data releases, please see the Economic Data Recap section below.

The Fed released the minutes from its April 24-25 meeting today, and they are making headlines for reasons that we find hard to discern. The minutes included the sentence “several members indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the downside risks to the forecast became great.” Minutes from the March 13 meeting said “A couple of members indicated that the initiation of additional stimulus could become necessary if the economy lost momentum or if inflation seemed likely to remain below its mandate-consistent rate of 2 percent over the medium run.” Market sentiment will remain negative towards Europe and the continued sell off of European assets is ongoing. Without some positive news or results in Greece, with lack of overall guidance by the EU and continued worries about Spain, the current situation is expected to hold.
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UPCOMING EVENTS :
2012-05-17 12:30 GMT | USD Initial Jobless Claims
2012-05-17 12:30 GMT | CAD Wholesale Sales
2012-05-17 12:30 GMT | CAD Foreign Securities Purchases
2012-05-17 14:00 GMT | USD Leading Indicators

FOREX NEWS :
2012-05-17 04:34 GMT | GBP/USD: 1.5830 support zone in sight
2012-05-17 03:50 GMT | AUD/CAD bounces above 1.0050
2012-05-17 03:43 GMT | NZD/USD fall below 0.7607 gives way to 0.7469
2012-05-17 03:33 GMT | GBP/JPY quiet above key support 127.00

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EURUSD : 1.27432 / 1.27436
DAILY WEEKLY MONTHLY

1.261 | 1.264 | 1.268
1.276 | 1.280 | 1.284

SUMMARY : Bearish
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

Technicals are moving to the oversold zone. The bearish trend is clear over weekly charts supported by the negativity on momentum and trend indicators. A break below 1.2625 will be a very negative indication for short and medium-term traders. Today is among key support at 1.2500 and key resistance at 1.2915. The general trend over short-term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact. Although we might see a bounce to the 1.29 level as bulls try to break the 1.30 price

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GBPUSD : 1.59154 / 1.59162
DAILY WEEKLY MONTHLY

1.577 | 1.583 | 1.587
1.597 | 1.603 | 1.607

SUMMARY : Bearish
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

After breaching the psychological level of 1.6000, the pair has dropped violently, reinforcing the bearish outlook. The technical target should be at 1.5820-1.5810 followed by 1.5780 zones. Stochastic remains negative adding further confirmation for the bearish tone. The trading range for today is among key support at 1.5730 and key resistance at 1.6165.

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USDJPY : 80.305 / 80.309
DAILY WEEKLY MONTHLY

79.847 | 80.025 | 80.195
80.543 | 80.721 | 80.891

SUMMARY : Bullish
TREND : Down trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Bullish

MARKET ANALYSIS - Intraday Analysis

The pair continued consolidating above the psychological level of 80.00 and at the key support level of 80.30 while RSI 14 is on its way to attack the momentum resistance level reading a 50.A breakout above the resistance line of the descending channel is the main reason that supports the bullish expectations for today. Ultimately, a break above 80.50 will confirm and accelerate. The trading range for today is among key support at 78.80 and key resistance now at 81.75.

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 16Mai2012

Wed, 16 May 2012 07:29:06 +0000

Daily Forex Market by FXCC 16Mai2012

The euro continues to plunge

While the broad sentiments prevailing in the market continue to be bearish, commodities and shares were seen rising following a rebound in euro. Recovery in Euro from a four month low after a surprisingly strong German GDP data took the pressure off the market and slightly lifted the sentiments. German economy grew 0.5 per cent in the first quarter against the expectation of 0.1 per cent. Euro Zone GDP data indicated that the region avoided recession though the economy continued to remain fragile. However, the overall sentiments were feeble on deepening worries over euro zone crisis and political uncertainty in Greece. Shortly after the exhilaration wore off the euro began to plummet hitting new recent lows to trade at this time at 1.2724.

Market mood continue to remain skeptical as investors fretted about the possibility of a Greek exit from the Euro zone. Financial markets would be fervently watching out for political events in Europe for further cues. With Europe reeling under both financial and political strain, all eyes are on today’s meet between German Chancellor Angela Merkel and new French president Francois Hollande. US eco data was neutral, with retail sales coming in soft.
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UPCOMING EVENTS :
2012-05-16 08:30 GMT | GBP Claimant Count Change
2012-05-16 09:30 GMT | GBP BoE Inflation Report
2012-05-16 09:30 GMT | GBP BoE Gov King Speaks
2012-05-16 18:00 GMT | USD FOMC Minutes

FOREX NEWS :
2012-05-16 04:42 GMT | EUR/GBP awaiting further cues from European session
2012-05-16 04:38 GMT | EUR/USD breaks below 1.2700 barriers with Asian share markets selling-off
2012-05-16 03:56 GMT | NZD trades top-heavy on poor dairy auction
2012-05-16 02:52 GMT | GBP/USD at session lows ahead of key UK data

EURUSD : 1.27133 / 1.27136
DAILY WEEKLY MONTHLY

1.253 | 1.262 | 1.268
1.282 | 1.292 | 1.297

SUMMARY : Bearish
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

The Euro fell to quickly in Asian trading to validate the downtrend it also has pushed indicators and oscillators to their maximum reading, Current reading are miscued. We will have to re-evaluate numbers and movement later today. The price action on Monday was negative, and the fact that the 1.29 level finally gave way we showed support had been broken. The 1.29 was the last remnant of the support level in our view. The 1.26 level looks to be the next major support level, and although there will be bounces along the way, the headlines should continue to punish the Euro going forward. However, this pair will more than likely continue to be choppy. We would sell rallies on signs of failure, and a break below the Monday lows.

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GBPUSD : 1.59630 / 1.59640
DAILY WEEKLY MONTHLY

1.581 | 1.589 | 1.594
1.607 | 1.615 | 1.62

SUMMARY : Bearish
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

The current bout of risk aversion this week does not turn into panic; the GBP/USD has a chance to pop up toward the 1.6160 pivot in any short-term bout of risk appetite or stabilization. The next resistance above 1.6160 is a declining trend line which should meet price in the 1.6250-1.6280 area. Technicals all remain bearish with support at 1.6000, though downside set to continue. This morning’s surge has pushed the GBP below the psychological 1.60 price level. Support can be found at 1.58543 and 1.56722

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USDJPY : 80.377 / 80.382
DAILY WEEKLY MONTHLY

79.453 | 79.634 | 79.973
80.493 | 80.674 | 81.013

SUMMARY : Bullish
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Bullish

MARKET ANALYSIS - Intraday Analysis

The pair is trading between two moving averages (100 and 200). If the pair breaks 79.707, the pair will decline to 79.070. In terms of technical levels, supports are seen at 79.68/61 and then at 79.43. On the other hand, resistance levels are seen at 80.30/40 and 80.61 Indicators read a strong buy, although RSI has moved to neutral and MACD is in the sell range. MA 10 and 20 both show buy signals.

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 15Mai2012

Tue, 15 May 2012 08:18:33 +0000

Daily Forex Market by FXCC 15Mai2012

Hollande Sworn in as President of France Today

Today, French President elect Hollande will be sworn into office. Over the next few weeks he will build a government, in the meantime he will appoint an temporary government. These appointments should give us some insight into his economic and financial plans and thoughts.The negative sentiment from the eurozone colors the global markets, as risk aversion remains the mode. With the leadership and the direction of the EU in question and the ongoing turmoil in Greece and increasing debt problems in Spain, markets are worried about who and how the eurozone will attempt to control and turn around the future of Europe. Data out this week might show that the eurozone has slipped back into recession. The overflow of the eurozone declining economic situation is harming its neighbors around the globe from China to the US. Commodities continue to fall, especially those that are USD denominated. The yen is reaching historical highs, which is a difficult situation for Japan. The USD still remains strong. Greece either leaving or being ousted from the euro becomes more likely each passing day.
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UPCOMING EVENTS :
2012-05-15 07:00 GMT | EUR German GDP
2012-05-15 09:00 GMT | EUR German ZEW Economic Sentiment
2012-05-15 12:30 GMT | USD Core CPI
2012-05-15 12:30 GMT | USD Core Retail Sales

FOREX NEWS :
2012-05-15 05:00 GMT | Japan Apr Consumer Confidence Index declines to 40
2012-05-15 04:40 GMT | EUR/USD above 1.2800 ahead of a very busy morning in London
2012-05-15 04:23 GMT | GBP/USD within tight 20-pip range ahead of UK trade data
2012-05-15 03:32 GMT | AUD/JPY off 4-month lows, still below 80.00

EURUSD : 1.28478 / 1.28481
DAILY WEEKLY MONTHLY

1.270 | 1.276 | 1.279
1.288 | 1.293 | 1.2973

SUMMARY : Bearish
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

The risk adverse sentiment saw the pair march right through boundary at the 1.2875 and 1.2850 levels. In terms of technical levels, supports are seen at 1.2800, 1.2700 and then at 1.2624 (2012 low). On the other hand, resistance levels are seen at 1.2935/58 and then at 1.2979. The sustained closes below 1.3000 unlocks the important multi-month reversal pattern for a fast move into 1.2626. Daily indicators are all showing strong sell supported by MACD, RSI and ADX. MA 5-200 all read sell. Stochastic is deep in an oversold situation.

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GBPUSD : 1.61051 / 1.61058
DAILY WEEKLY MONTHLY

1.598 | 1.602 | 1.605
1.613 | 1.616 | 1.620

SUMMARY : Neutral
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

There is still no indication of a trend reversal, even as the pace of the decline is halted. At this time the pair is at 1.6085 and bouncing on the S4. This appears to have corrected the last up move. We should see an initial bounce to go to 1.6125. We are bullish above 1.6125 to the R5 at 1.6199 with the lower target at the support at 1.6014.

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USDJPY : 79.875 / 79.880
DAILY WEEKLY MONTHLY

79.141 | 79.4135 | 79.641
80.140 | 80.412 | 80.64

SUMMARY : Bearish
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

The U.S. dollar/yen is currently testing the 100-day simple moving average (SMA) which is around 79.70/79.75, and has acted as support on recent tests,. The pair remains within a bearish medium-term channel with resistance around the 21-day SMA and weekly cloud top that converge around 80.45.

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 14Mai2012

Mon, 14 May 2012 08:19:55 +0000

Daily Forex Market by FXCC 14Mai2012

EU Finance Ministers call for Emergency Meeting.

Markets continue to reel over European uncertainties as they open the week in risk-aversion mode. Greece was unable to form a government over the weekend, and will go back to the polls to try to elect new parties. Spain’s ongoing financial woes and growing worries over the banks in Spain also weigh on the markets. The US dollar and the Japanese Yen, continue to maintain strength as investor’s park funds in safe havens. Gold and crude oil continue to fall, as most USD denominated currencies cannot support the high dollar at present. Even gold trading under the 1600 price is too expensive with the current dollar value. The early part of the week, is thin on eco data, but should be big in political drama as the EU Finance Ministers have called an Emergency meeting today to discuss the future of Greece.
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UPCOMING EVENTS :
2012-05-14 08:00 GMT | Italy - Consumer Price Index (EU Norm) (MoM)
2012-05-14 08:00 GMT | Italy - Consumer Price Index (EU Norm) (YoY)
2012-05-14 09:00 GMT | European Monetary Union - Industrial Production w.d.a.
2012-05-14 09:00 GMT | European Monetary Union - Industrial Production s.a.

FOREX NEWS :
2012-05-14 06:10 GMT | Germany: Wholesale Price Index rises 0.5% in April
2012-05-14 06:00 GMT | Germany: Wholesale Price Index (MoM) grows 0.5% in Apr; (YoY) up 2.4%
2012-05-14 01:41 GMT | Australia: Housing finance rises 0.3% in March
2012-05-14 01:31 GMT | Australia Mar Investment Lending for Homes declines to -1%

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EURUSD : 1.28887 / 1.28891
DAILY WEEKLY MONTHLY

1.2842 | 1.2874 | 1.2887
1.2905 | 1.2936 | 1.2978

SUMMARY : Bearish
TREND : Bearish
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

The sustained close below 1.3000 unlocked the important multi-month reversal pattern for a fast move into 1.2626 (16 January swing low). This morning MA 10 -20 all read sell, technical indicators are all reading sell, although the 5day MA is a buy signal. This might be an opportunity to buy on the dips below the 1.29 price. Support is found at the 1.28 level. Meanwhile, only a sustained daily close back above 1.3284 (01st May high), puts this scenario on hold for a potential recovery into our upside target zone at 1.3430/60 (200-day average).

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GBPUSD 1.60754 / 1.60759
DAILY WEEKLY MONTHLY

1.6026 | 1.6040 | 1.6053
1.6080 | 1.6094 | 1.6107

SUMMARY : Up
TREND : Upward penetration
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

The sterling should see further choppy activity over the short-term the overall tone remains positive and we look for 1.6063 to more or less contain current weakness. The pair will most likely recapture of 1.6199 suggesting completion of the correction, setting the stage for an attack on 1.6302 then 1.6500/1.6618 (psychological/August reaction high) as the bull run extends.

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USDJPY : 80.050 / 80.056
DAILY WEEKLY MONTHLY

79.62 | 79.74 | 79.90
80.64 | 80.32 | 80.15

SUMMARY : Neutral
TREND : Sideway
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

The yen’s bearish pullback remains weak beneath but has pushed through the key psychological level at 80.00. We are looking at weakness beneath 80.00-80.12 (38.2% Fibonacci retrace/January advance), which will lead to further setbacks into critical support at 79.16 (61.8% Fibonacci). Today’s momentum pushes within a multi-week bear channel. Only a snap back above the upper ceiling near 80.50 signals a potential recovery higher into 82.00.

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 11Mai2012

Fri, 11 May 2012 08:09:51 +0000

Daily Forex Market by FXCC 11Mai2012

Eco Calendar thin keep an eye on Politics

Global equities continue to retreat despite a decent round of overnight fundamentals, as Greece's high stakes election drama weighs on market sentiment. European equity benchmarks are lower and Dow futures are suggesting a tiny drop at the market open. Global currency markets are divided with the A$, NZ$, pound sterling and CAD all up against the USD while the won, Scandinavian currencies and the rand are all lower and the euro is flat. Most European debt markets are rallying or are flat across 10s except for UK 10s that were disappointed by flat stimulus from the BoE.

Solid European manufacturing data didn’t much help the global market tone. French manufacturing production climbed 1.4% m/m and far surpassed consensus expectations for a small drop, even as total industrial production fell thanks to lower electricity and gas production following the prior month’s massive gain in this category. Italian manufacturing also climbed 0.5% and surpassed expectations. UK manufacturing production climbed 0.9% m/m which nearly doubled consensus. German Chancellor Angela Merkel is sticking to her guns and good for her. She reiterated this morning that deficit financed stimulus to growth is a misguided path, and that austerity is the only solution. This continues to put the Franco-German partnership on a collision course over the summer. In the US yesterday data was received with mixed sentiment. Chairman Bernanke’s speech was market neutral. Chinese data has been lackluster, but not market movers.
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UPCOMING EVENTS :
2012-05-11 8:30 GMT | GBP - Producer Price Index - Input / output
2012-05-11 11:00 GMT | CAD - Net Change in Employment (Apr)
2012-05-11 12:30 GMT | USD - Producer Price Index (YoY) & (MoM)
2012-05-11 12:30 GMT | CAD - Unemployment Rate

FOREX NEWS :
2012-05-11 06:12 GMT | Germany: Annual Inflation unchanged at 2.1% in April
2012-05-11 06:11 GMT | China Apr Urban investment (YTD) (YoY) down to 20.2%
2012-05-11 06:08 GMT | China Retail Sales (YoY) declines to 14.1% vs 15.2%
2012-05-11 06:03 GMT | Germany: CPI (YoY) unchanged at 2.1% in Apr; (MoM) rises 0.2%

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EURUSD :1.29171 / 1.29175

1.2859 | 1.2892 | 1.2913
1.2967 | 1.3 | 1.3021

SUMMARY : Bearish
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

Major bearish reversal pattern has broken psychological support at 1.3000. A sustained close below 1.3000 unlocks the important multi-month reversal pattern for a fast move into 1.2626 (16 January). Only a sustained daily close back above 1.3284 puts this scenario on hold for a potential recovery into our upside target zone at 1.3430/60 (200-day average). Signals all continue to remain bearish

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GBPUSD :1.61105 / 1.61115
DAILY WEEKLY MONTHLY

1.6001 | 1.6047 | 1.609
1.6179 | 1.6225 | 1.6268

SUMMARY : Bearish
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

Watch for more choppy activity over the short-term the overall tone remains positive. A return to 1.6199 would suggest completion of the correction, setting the stage for an attack on 1.6302 then 1.6500/1.6618 (psychological) as the bull run extends. A close back below 1.6063 from here would suggest stalling upside momentum, with support at 1.5805 watch for key support at 1.5603.

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USDJPY :79.841 / 79.847
DAILY WEEKLY MONTHLY

79.2439 | 79.4252 | 79.6549
80.0659 | 80.2472 | 80.4769

SUMMARY : Bearish
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

The yen continues to trade within a multi-week bear channel, only a snap back above the upper ceiling near 80.50 signals a potential recovery higher into 82.00. This may offer renewed buying opportunities. A sustained weakness beneath 80.00-80.12 (38.2% Fibonacci retrace/January advance), will lead to further setbacks into critical support at 79.16 (61.8% Fibonacci).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 10Mai2012

Thu, 10 May 2012 08:31:22 +0000

Daily Forex Market by FXCC 10Mai2012

Greece expected to leave the Eurozone

Global markets continued to fall, including equities, and commodities as investors were in full risk aversion mode. Traders are moving in droves to the safe harbor, of the US dollar and the Japanese Yen. Political turmoil ranging from France to Greece has upset markets. The EU had stated that they will without the rest of the bailout money from Greece until political issues are resolved. In Spain, the government has had to step in and take over the largest bank, Bankia. Economic worries have spooked markets and forced Spain’s borrowing costs to skyrocket.Gold continues to decline along with oil. Yesterday the EIA release crude oil inventory reports showing that crude oil inventories had continued to rise. In early morning Asian news, equity markets continued to decline, as data released in China showed a continued slowdown, while Australia reported a better the forecast unemployment report.
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UPCOMING EVENTS :
12:00 : GBP Interest Rate Decision
13:30 : CAD Trade Balance
13:30 : USD Trade Balance
13:30 : USD Initial Jobless Claims

FOREX NEWS :
Trade surplus wider than expected in April
AUD/USD dives on worse than expected China data, back below 1.0100
GBP/AUD off from fresh yearly highs 1.6074 back below 1.6000
EUR/AUD slips after upbeat Aus. jobs data

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EURUSD 1.29611 / 1.29614
DAILY WEEKLY MONTHLY

1.2804 | 1.2858 | 1.2896
1.2988 | 1.3042 | 1.308

SUMMARY : Bearish
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

The euro is weak, having lost close to 0.2% against the USD, but still trading within Wednesdays range. The inability to break below 1.2955 was reassuring for EUR bulls in an environment where most drivers are turning rapidly bearish. Having broken the 1.2955 in yesterday, we will see the bears continue to gain strength. The markets are taking a breather this morning as the euro has recovered to 1.2951 after opening at 1.2927 It seems to be moving down again now and if there is a break below 1.2922 that could lead to an acceleration of the move lower, with support at 1.2818 targeted from both a monthly and a weekly pivot. A recovery on the other hand would most likely see the exchange rate struggle higher to fill the gap at 1.3080.

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GBPUSD 1.61460 / 1.61469
DAILY WEEKLY MONTHLY

1.5996 | 1.6032 | 1.6084
1.6172 | 1.6208 | 1.626

SUMMARY : Neutral
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

The 1.6142 line is now fluid, after providing support for the past two weeks. This is followed by the psychologically important support level of 1.60, which could be tested if the dollar continues to rally. Next, 1.5930, which saw a lot of movement by the pair in April, has been providing strong support for the pair. Below, there is support at 1.5805, which also was tested in April. The next support level is 1.5750, which has provided support since mid-March. The final line for now is 1.5648, which was last tested in March. Overall technicals are mixed ‐ indicators that remain bullish are waning, though near term support is found at the 21 day MA-1.6098. Resistance remains at the 9 day MA -1.6189

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USDJPY : 79.702 / 79.707
DAILY WEEKLY MONTHLY

78.9506 | 79.1933 | 79.4551
79.9596 | 80.2023 | 80.4641

SUMMARY : Bearish
TREND : Down trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Bearish

MARKET ANALYSIS - Intraday Analysis

Technical are showing bearish ‐ the value of the RSI indicator is negative and declining, MACD is thinly negative and steady, while CCI has crossed down the 100 line on the 1-hour chart, giving over all short signals. A break above yesterday's top and nearest resistance 80.08 would encourage further recovery of the dollar. Immediate support is today's bottom at 79.60, and consistent break below it could strengthen the yen further down towards next target 78.76.

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 03Mai2012

Thu, 03 May 2012 09:00:23 +0000

Daily Forex Market by FXCC 03Mai2012

EUR/USD below 1.3150 ahead of ECB

EUR/USD is currently at 1.3145 off session lows at 1.3137, coming lower from NY session highs 1.3167, in a relatively quiet Asia-Pacific session with Tokyo closed for holiday. Local open share markets trade in the red over all, with Shanghai index leading the way lower with some -1.85%. The London session ahead shows a busy agenda though not because of many risk events but because of very key ones, including ECB interest rate statement at 11:45 GMT this time extraordinarily coming from Barcelona, followed by press conference at 12:30 GMT. Also at 09:00 GMT will come EU monthly PPI, but more importantly, two major bond auctions will take place along the European morning, from Spain and France at 08:30 and 08:50 GMT respectively.

Cable is quietly trading within a tight range 1.6207/1.6188 since early NY, last at 1.6195, lower by -0.15% since yesterday's Asia-Pacific open. The pair is down for the week some -0.43% after hitting fresh 7-month highs Monday at 1.6301, now retreating from there with weekly lows yesterday at 1.6162.
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UPCOMING EVENTS :
2012-05-03 08:30 GMT | United Kingdom Purchasing Manager Index Services (Apr)
2012-05-03 09:00 GMT | European Monetary Union Producer Price Index (YoY)
2012-05-03 09:00 GMT | European Monetary Union Producer Price Index (MoM)
2012-05-03 11:45 GMT | European Monetary Union ECB Interest Rate Decision

FOREX NEWS :
2012-05-03 04:00 GMT | EUR/USD below 1.3150 ahead of ECB
2012-05-03 03:33 GMT | AUD/CAD hits fresh 5-month low 1.0146
2012-05-03 00:57 GMT | GBP/USD quietly trading below 1.6200
2012-05-03 00:27 GMT | USD/JPY frozen above 80.00

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EURUSD : 1.31412 / 1.31415

1.3283 | 1.3241 | 1.3203 | 1.3168
1.3123 | 1.3104 | 1.3057 | 1.3000

SUMMARY : Down
TREND : Down trend
MA10 : Neutral
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The EURUSD fell and formed a bottom at 1.3123 (S1). After that the price rebounded and was able to break above yesterday’s support at 1.3168. A break above the first resistance would suggest a target of 1.3203 (R2). If price holds its momentum on the upside we can expect a further rise towards 1.3241 (R3). On the other hand, if the price does not manage to break above 1.3168 (R1) we can expect the pair to retest support at 1.3104 (S2). A break below that level would suggest target at 1.3057 (S3).

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GBPUSD : 1.61897 / 1.61905
DAILY WEEKLY MONTHLY

1.6374 | 1.6301 | 1.6248 | 1.6209
1.6160 | 1.6128 | 1.6075 | 1.6013

SUMMARY : Down
TREND : Down trend
MA10 : Neutral
MA20 : Neutral
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD rebounded from 1.6301 (R3) yearly high and then fell, forming a bottom at 1.6160 (S1). A break below the first support level (S1) would suggest a target of 1.6128 (S2) and a further fall will be limited at 1.6075 (S3). On the other hand, if price holds its momentum on the upside we can expect a rise and retest towards 1.6209 (R1). A break above that level will then bring focus to the next resistance level at 1.6248 (R2).

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USDJPY : 80.202 / 80.207
DAILY WEEKLY MONTHLY

81.94 | 81.43 | 81.04 | 80.65
80.05 | 79.65 | 79.08 | 78.67

SUMMARY : Neutral
TREND : Sideway
MA10 : Neutral
MA20 : Neutral
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The USDJPY didn’t made any significant moves in yesterday’s session as it traded in a consolidation mode between the 80.05 (S1) and 80.65 (R1) levels. A break below 80.05 would suggest a target at 79.65 (S2) and further fall will then focus on 79.08 (S3) a strong technical and psychological level. On the other hand if the price manages to stay above the first support (S1) level we expect the price to retest 80.65 (R1) and a break above that level will concentrate our focus on 81.43(R3).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

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Daily Forex Market by FXCC 02Mai2012

Wed, 02 May 2012 08:03:47 +0000

Daily Forex Market by FXCC 02Mai2012

EUR/USD stuck in the middle with 1.3235

EUR/USD is recovering at 1.3228 part of today's Asia-Pacific session losses, bouncing from lows at 1.3205, after falling from session highs around 1.3240. The pair is marginally lower by -0.09% from yesterday's open, with local share markets on the rise overall Nikkei +0.33% and Hang Seng +1.15%. The London session ahead brings different EU countries PMI and job figures, starting with Italy, France and Germany PMI figures around 07:45 GMT, Germany unemployment at 07:55 GMT, followed by EU PMI at 08:00 GMT and Italy unemployment at same hour, Italy PPI at 09:00 GMT and UE unemployment at same hour. No major sovereign debt auctions will take place today, while Ecofin is scheduled for all morning long.

GBP/JPY is marginally higher in Asia-Pacific at 130.09 from an open around 129.90, though retreating from session highs at 130.26. The cross is still lower for the week by -0.36%. AUD/USD is currently at session highs 1.0343, bouncing from session lows 1.0327. The pair found support this Tuesday at 1.0305 after the massive sell-off following the RBA 50bps rate cut yesterday sending AUD/USD from above 1.0400 to mentioned day lows. It is down by -0.79% from yesterday's Asia-Pacific open price.
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UPCOMING EVENTS :
2012-05-02 07:30 GMT Switzerland SVME - Purchasing Managers' Index (Apr)
2012-05-02 08:00 GMT Germany Purchasing Manager Index Manufacturing (Apr)
2012-05-02 08:00 GMT Germany Unemployment Change (May)
2012-05-02 08:00 GMT European Monetary Union Purchasing Manager Index Manufacturing (Apr)

FOREX NEWS :
2012-05-02 02:38 GMT China: HSBC PMI up at 49.3 vs 48.3
2012-05-02 01:11 GMT USD/JPY can't break above 80.30
2012-05-02 01:03 GMT New Zealand Apr ANZ Commodity Price -4.5%
2012-05-02 00:20 GMT AUD/USD capped below 1.0350

----------------
EURUSD 1.32155 / 1.32161
DAILY WEEKLY MONTHLY

1.3443 | 1.3381 | 1.3347 | 1.3283
1.3203 | 1.3156 | 1.3104 | 1.3051

SUMMARY : Neutral
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The EURUSD didn’t made any significant moves yesterday as it traded in a consolidation mode between the 1.3203 (S1) and 1.3283 (R1) levels. A break below 1.3203 would suggest a target at 1.3156 (S2) and further fall will then focus on 1.3104 (S3) a strong technical and psychological level. On the other hand if the price manages to stay above the first support (S1) level we expect the price to retest 1.3283 (R1) and a break above that level will concentrate our focus on 1.3381(R3).

---------------
GBPUSD : 1.62275 / 1.62282
DAILY WEEKLY MONTHLY

1.6392 | 1.6349 | 1.6301 | 1.6247
1.6186 | 1.6134 | 1.6078 | 1.6009

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD fell yesterday and was supported at 1.6186 (S1) a strong technical level (correction). The price then rose and was able to break above yesterday's resistance completing a close just above our Fibonacci level 38.2%. We expect the price to move upwards and to retest our resistance levels at 1.6247 (R1) and 1.6301 (R2). A stop loss should be placed at 1.6186 (S1).

-------------
USDJPY : 80.364 / 80.369
DAILY WEEKLY MONTHLY

81.89 | 81.45 | 81.04 | 80.65
80.05 | 79.65 | 79.13 | 78.67

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

The USDJPY moved closer to support levels at 79.65, retested it twice but didn’t manage to break below it. After that, the price rise and was supported at that level. If price will be able to break above today’s first resistance level at 80.65 (R1) would suggest target at 81.04 (R2). On the downside, a break below 80.05 (S1) would suggest target at 79.65 (S2) and further fall will then be limited at 79.13 (S3).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 01Mai2012

Tue, 01 May 2012 07:44:49 +0000

Daily Forex Market by FXCC 01Mai2012

EUR/AUD back to last week highs above 1.2800

EUR/AUD is shooting up after RBA cut 50pbs to 3.75% sending AUD/USD to fresh 4-day lows now around 1.0340, while EUR/USD is climbing higher now stalling below 1.3260, making the cross reaching the 1.2825 mark. The cross is higher by more than 170 pips in the week or a +1.29% increase, while more than half of that is just from the RBA just released rates. EUR/AUD is stalling ahead of past Tuesday's highs at 1.2836, printing a fresh session high at 1.2825, last at 1.2812 bids. Most countries in Europe will close today on Labor Day holiday, drying up liquidity during London session, with no EUR data related being published.

With Nikkei index open falling again below the 9500 key figure losing some -0.98%, USD/JPY trades at 79.87 off from session highs at 79.93, and bouncing from double intraday low at 79.75 near NY close. Most local markets are closed for holidays, and key risk event China manufacturing PMI will deliver at 01:00 GMT.
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UPCOMING EVENTS :
2012-05-01 07:00 GMT | Denmark Retail Sales (YoY) (Mar)
2012-05-01 08:30 GMT | United Kingdom Purchasing Manager Index Manufacturing (Apr)
2012-05-01 02:00 GMT | United States Construction Spending (MoM) (Mar)
2012-05-01 02:00 GMT | United States ISM Manufacturing (Apr)

FOREX NEWS :
2012-05-01 01:32 GMT | Australia 1Q House Price Index (YoY) -4.5%
2012-05-01 01:30 GMT | Australia House Price Index (QoQ) -1.1% in 1Q
2012-05-01 01:00 GMT | China Apr NBS Manufacturing PMI increase to 53.3
2012-05-01 00:20 GMT | USD/JPY capped below 80.00

--------------
EURUSD : 1.32457 / 1.32462
DAILY WEEKLY MONTHLY

1.3423 | 1.3367 | 1.3313 | 1.3269
1.3208 | 1.3156 | 1.3104 | 1.3057

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The EURUSD formed a top on yesterday’s session at 1.3269 (R1) and then fell forming a new low at 1.3208. Now it seems it is moving away from this level to retest the resistance levels. A break above 1.3269 (R1) would suggest a target of 1.3313 (R2) and a further rise will then focus on the next target at 1.3367 (R3). On the downside, if the price breaks below the first support level of 1.3208 (S1) we can expect retesting of 1.3156 (S2). A further decline will then bring focus to the next support level at 1.3104(S3).

---------------
GBPUSD : 1.62263 / 1.62276
DAILY WEEKLY MONTHLY

1.6481 | 1.6413 | 1.6367 | 1.6301
1.6207 | 1.6134 | 1.6078 | 1.6009

SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

After a successful run since the beginning of April, GBPUSD formed a top in yesterday’s trading session at 1.6301 (R1) and fell creating a support level near 1.6200. Yesterday the price was able to break above the same level (S1), and now is moving downwards for a correction. Our recommendation for today’s trading session is look for long position between 1.6200 and 1.6134 level. A stop loss should be placed at 1.6078 (S3).

--------------
USDJPY : 79.764 / 79.766
DAILY WEEKLY MONTHLY

81.43 | 81.04 | 80.65 | 80.21
79.13 | 78.57 | 78.19 | 77.57

SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

USDJPY fell and penetrated successfully our support levels forming a new low at 79.70. A break below that level would suggest target at 78.57 (S2). Look for short positions targeting second support as both of our Moving Averages turned bearish. A stop loss should be placed at 80.21 (R1).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 30Apr2012

Mon, 30 Apr 2012 08:15:49 +0000

Daily Forex Market by FXCC 30Apr2012

EURUSD trapped in Trading Range

EUR/USD is currently at 1.3249, near the upper bound of the tiny range the pair has traded into this Monday in Asia-Pacific, with main markets Japan and China closed for Golden Week holiday. US and European share markets point for a marginal higher open, according to their futures. For the London session ahead agenda shows German retail sales at 06:00 GMT as EUR macro data related, followed by EU M3 money supply and private loans at 08:00 GMT and CPI figures at 09:00 GMT, as well as short term sovereign debt auctions from France along the European morning.

Despite the Bank of Japan expanded its QE program by JPY5trn to JPY70trn last Friday in Asia, an outcome in line with expectations, the measure seems to have underwhelmed the market, which continues to buy the Yen ignoring the recent aggressive monetary easing.
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UPCOMING EVENTS
2012-04-30 08:00 GMT | European Monetary Union M3 Money Supply (3m) (Mar)
2012-04-30 08:00 GMT | European Monetary Union M3 Money Supply (YoY) (Mar)
2012-04-30 09:00 GMT | European Monetary Union Consumer Price Index (YoY)
2012-04-30 09:00 GMT | Italy Consumer Price Index (YoY) (Apr) Preliminar

FOREX NEWS
2012-04-30 01:31 GMT | Australia Mar Private Sector Credit (YoY) 2.3%
2012-04-30 00:31 GMT | Australia Apr TD Securities Inflation (YoY) 1.9%
2012-04-30 00:30 GMT | Australia TD Securities Inflation (MoM) 0.3% in Apr
2012-04-30 00:30 GMT | GBP/USD quiet near 7-month highs

--------
EURUSD : 1.32542 / 1.32546
DAILY WEEKLY MONTHLY

1.3423 | 1.3375 | 1.3324 | 1.3269
1.3171 | 1.3118 | 1.3057 | 1.3000

SUMMARY : Neutral
TREND : Sideway
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

The EURUSD found a strong support at 1.3171 (S1) and moved upwards breaking above our resistance levels. We expect the price to continue its move upwards as this is supported by the fact that both of our Moving Averages are bullish and are providing a strong support just above previous low. Look for long positions at 1.3269 targeting second resistance level at 1.3324 (R2).

--------
GBPUSD : 1.62849 / 1.62857
DAILY WEEKLY MONTHLY

1.6474 | 1.6424 | 1.6389 | 1.6345
1.6207 | 1.6134 | 1.6078 | 1.6009

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD gained momentum and formed higher bottoms successfully penetrating Friday's resistance levels. We expect the price to continue its upwards move targeting 1.6345 (R1) and further rise will then be limited at 1.6389 (R2).

--------
USDJPY : 80.124 / 80.129
DAILY WEEKLY MONTHLY

81.77 | 81.43 | 81.04 | 80.65
79.54 | 79.05 | 78.47 | 78.13

SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

USDJPY fell sharply and formed a strong support level close to 80.00 level. Look for short positions at current level targeting 79.54 (S1) and further fall will then focus on next support level at 79.05 (S2). A stop loss should be placed at 80.65 (R1).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 27Apr2012

Fri, 27 Apr 2012 07:08:22 +0000

Daily Forex Market by FXCC 27Apr2012

EUR/USD quiet around 1.3200

EUR/USD is currently at 1.3203, holding below yesterday's lows, previous to the S&P announcement of the Spanish sovereign debt downgrade two notches from A to BBB+. The pair fell from NY close price around 1.3240 to as low as 1.3178 on the news, recovering from there till current quotes with not much of a move since then, for the last 4 hours moving in a 20 pip range. The session ahead for London shows a moderately soft agenda in terms of EUR data related, with GfK German consumer climate and German import prices on monthly basis at 06:00 GMT, followed by French consumer spending 45 minutes later, and several Spanish minor data coming out along the European morning. Market will also pay attention to Italian bond auctions at 09:00 GMT, in order to find what resulting yields come out from the auctions.

The cross EUR/AUD is currently trading at 1.2717 near a double session low, down from a 3-day move lower started Tuesday at double 1.2835 highs following much worse than expected CPI numbers from Australia. It is down by -0.34% since yesterday's Asia-Pacific opening price
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UPCOMING EVENTS
2012-04-27 08:00 GMT | Italy Retail Sales n.s.a (YoY) (Feb)
2012-04-27 08:00 GMT | Italy Retail Sales s.a. (MoM) (Feb)
2012-04-27 09:00 GMT | Switzerland KOF Leading Indicator (Apr)
2012-04-27 09:00 GMT | Greece Producer Price Index (YoY) (Mar)

FOREX NEWS
2012-04-27 05:07 GMT | Japan: Construction Orders (YoY) (Mar): -0.3%
2012-04-27 04:45 GMT | GBP/USD bracketed between 1.6165/88
2012-04-27 03:47 GMT | Japan BoJ Interest Rate Decision flat at 0.1%
2012-04-27 02:30 GMT | EUR/AUD holds the decline above 1.2700

---------------
EURUSD : 1.31802 / 1.31807
DAILY WEEKLY MONTHLY

1.3398 | 1.3364 | 1.3313 | 1.3262
1.3171 | 1.3118 | 1.3057 | 1.3000

SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD couldn’t hold in yesterday’s trading session and fell, breaking below our support level and forming a new low at 1.3171 (S1). A break below that level would suggest a target at 1.3118 (S2) and a further fall will focus attention on 1.3057 (S3) a significant technical and psychological level. On the other hand if the pair moves upwards and manages to break above 1.3262 (R1) we expect the price to retest 1.3313 (R2) and any further rise will then be limited to 1.3364.

---------------
GBPUSD : 1.61638 / 1.61648
DAILY WEEKLY MONTHLY

1.6347 | 1.6293 | 1.6267 | 1.6208
1.6134 | 1.6078 | 1.6009 | 1.5963

SUMMARY : Neutral
TREND : Sideway
MA10 : Neutral
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD didn’t made any significant moves in yesterday’s session as it traded in a consolidation mode between the 1.6134 (S1) and 1.6208 (R1) levels. A break below 1.6134 would suggest a target at 1.6078 (S2) and further fall will then focus on 1.6009 (S3) a strong technical and psychological level. On the other hand if the price manages to stay above the first support (S1) level we expect the price to retest 1.6208 (R1) and a break above that level will concentrate our focus on 1.6267(R3).

---------------
USDJPY : 80.872 / 80.878
DAILY WEEKLY MONTHLY

82.49 | 82.13 | 81.77 | 81.43
80.48 | 80.29 | 79.47 | 79.10

SUMMARY : Neutral
TREND : Sideway
MA10 : Neutral
MA20 : Neutral
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY released a lot of volatility in yesterday’s trading session moving upwards above first resistance and then moved downwards breaking below 81.00 touching our yesterday’s support level. Our recommendation for today’s trading session is no position until we get a clearer direction of the trend. No position.

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 26Apr2012

Thu, 26 Apr 2012 08:24:14 +0000

Daily Forex Market by FXCC 26Apr2012

EUR/USD holds steady ahead of EZ, Germany data

EUR/USD has traded a very limited range in Asia between 1.3215 and 1.3232, hovering below its 3-week high after the dollar took a recent hit on USD-negative comments from the Fed, in particular, that the central bank stands ready to use additional measures (more QE) if necessary, which fueled a broad greenback selloff. In the European session ahead, the risk focus for EUR will be Euro-zone consumer confidence data along with Euro-zone economic and industrial confidence data for April, due for release at 09:00 GMT. A few hours later, at 12:30 GMT, German CPI figures are to be published, with economists anticipating a +2.0% reading in the year to April.

EUR/JPY extended its bounce from the 50% retracement of the 104.60/107.98 upswing in overnight trading, reaching the 107.65 price zone before closing at 107.50. So far in Asia, the pair is edging lower, on the verge of losing all of the previous day’s gains, last at 107.33.
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UPCOMING EVENTS
2012-04-26 08:30 GMT | United Kingdom BBA Mortgage Approvals (Mar)
2012-04-26 09:00 GMT | European Monetary Union Consumer Confidence (Apr)
2012-04-26 09:00 GMT | European Monetary Union Economic Confidence (Apr)
2012-04-26 12:30 GMT | Germany Consumer Price Index (YoY) (Apr) Preliminar

FOREX NEWS
2012-04-26 04:57 GMT | GBP/USD consolidating recent gains ahead of Europe
2012-04-26 04:32 GMT | Japan Feb All Industry Activity Index (MoM) improves to -0.1% vs -1%
2012-04-26 03:26 GMT | EUR/JPY correcting lower
2012-04-26 01:24 GMT | EUR/USD trading at 3-week highs

-------------
EURUSD 1.32246 / 1.32251
DAILY WEEKLY MONTHLY

1.3391 | 1.3341 | 1.3275 | 1.3234
1.3180 | 1.3118 | 1.3057 | 1.3000

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The EURUSD didn’t make any significant moves in yesterday’s trading session as it moved between the first support and resistance level. A break in either direction will determine the trading bias in today`s session. A break below 1.3180 will confirm our short positions targeting 1.3118 (S2) and a further fall will be limited to 1.3057 (S3). On the other hand, if the pair breaks above the first resistance level of 1.3234 (R1), we would expect the price to retest 1.3275 (R2) and a further rise will then focus at 1.3341(R3).

--------------
GBPUSD : 1.61712 / 1.61721
DAILY WEEKLY MONTHLY

1.6351 | 1.6292 | 1.6247 | 1.6183
1.6078 | 1.6009 | 1.5963 | 1.5909

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD made a high at 1.6183(R2) as it continued its move upwards since middle of April. A break above 1.6183 (R1) would suggest target at 1.6247 (R2) and further rise will then be limited at 1.6292 (R3). On the other hand a break below 1.6078 (S1) would suggest target at 1.6009(S2) and further fall will then be limited at 1.5963 (S3).

---------------
USDJPY : 81.177 / 81.183
DAILY WEEKLY MONTHLY

83.33 | 82.81 | 82.42 | 81.77
80.85 | 80.29 | 79.81 | 79.37

SUMMARY : Neutral
TREND : Sideway
MA10 : Neutral
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY released a lot of volatility in yesterday’s trading session moving upwards above 81.50 and then moved downwards breaking below that level touching our support level. After that the price bounced from 81.00 level and moved upwards successfully penetrating our resistance level. It seems that the pair is gaining momentum and is moving towards 81.77. A break above that level would suggest a target at 82.42 (R2) a strong technical level. Look for long positions above 81.77 (R1) targeting 82.42 (R2).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily Forex Market by FXCC 25Apr2012

Wed, 25 Apr 2012 09:11:57 +0000

Daily Forex Market by FXCC 25Apr2012

EUR/USD around 1.3200 ahead of FOMC

EUR/USD keeps struggling around 1.3200 mark last at 1.3196, trading a tight range during Asian session, with highs at 1.3207, and lows at 1.3191. The pair has not moved much since yesterday's NY open, closing the gap lower with which opened Monday with yesterday's highs at 1.3220 ahead of today's FOMC at 16:30 GMT and further economic projections and press conference at 18:00-18:15 GMT. The London session ahead will also bring ECB chairman Mario Draghi testifying before European Parliament's Economic and Monetary Committee in Brussels at 07:00 GMT, German 30 year bond auction at 09:00 GMT, and UK GDP at 08:30 GMT which could have an impact on EUR/GBP.

USD/JPY’s overnight bounce from 80.84 has extended above the 81.50 price zone in quiet Asia-Pacific trading, having touched a session high of 81.55 as the market holds a bullish tone ahead of the BOJ meeting on Friday.
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UPCOMING EVENTS
2012-04-25 08:30 GMT | United KingdomGross Domestic Product (QoQ) (Q1)
2012-04-25 08:30 GMT | United KingdomGross Domestic Product (YoY) (Q1)
2012-04-25 12:30 GMT | United States Durable Goods Orders (Mar)
2012-04-25 12:30 GMT | United StatesDurable Goods Orders ex Transportation (Mar)

FOREX NEWS
2012-04-25 04:42 GMT | GBP/USD within 20-pip margin; UK GDP eyed
2012-04-25 04:23 GMT | EUR/USD around 1.3200 ahead of FOMC
2012-04-25 00:49 GMT | AUD/USD bracketed between 1.0310/40
2012-04-25 00:11 GMT | USD/JPY pushes up to 81.50

----------------
EURUSD 1.31950 / 1.31952
DAILY WEEKLY MONTHLY

1.3389 | 1.3351 | 1.3287 | 1.3226
1.3180 | 1.3118 | 1.3057 | 1.3000

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD has been moving upwards since the middle of April and the bulls face a major hurdle at the 1.3226 level (resistance), a level that is significant both, psychologically and technically. A break above 1.3226 (R1) would suggest a target at 1.3287 (R2) and further rise will then be limited to 1.3351 (R3). On the other hand if the price manages to stay below our first resistance level then we expect the price to retest 1.3180 (S1) and if a break occurs below that level the expected target is at 1.3118 (S2).

-----------------
GBPUSD : 1.61424 / 1.61433
DAILY WEEKLY MONTHLY

1.6291 | 1.6249 | 1.6187 | 1.6164
1.6078 | 1.6009 | 1.5963 | 1.5909

SUMMARY : Neutral
TREND : Sideway
MA10 : Neutra
MA20 : Neutral
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD didn’t make any significant moves in yesterday’s trading session apart from a false break out above 1.6150. Following that the price fell and trapped in a trading range between yesterday’s current support and resistance levels. Our recommendation for today’s trading session is no position until we see a clearer trend direction. No position.

--------------------
USDJPY : 81.371 / 81.376
DAILY WEEKLY MONTHLY

83.57 | 82.89 | 82.41 | 81.77
81.20 | 80.85 | 80.29 | 79.57

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The USDJPY moved upwards and broke above yesterday’s support level closing around to 81.60, just below our first resistance. A break above 81.77 (R1) will confirm our long positions targeting 82.41 (R2). On the other hand a break below 81.20 (S1) would suggest a target at 80.29 (S3).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

Daily FX Technical Analysis 24 april 2012

Tue, 24 Apr 2012 14:02:00 +0000

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Daily Forex Market by FXCC 24Apr2012

Tue, 24 Apr 2012 07:51:31 +0000

Daily Forex Market by FXCC 24Apr2012

EUR/USD quiet in Asia despite markets turmoil; holds above 1.3150

EUR/USD is quietly trading within a descending tight channel of less than 20 pips wide 1.3145/57 since NY close, last at 1.3152, despite big moves in Aussie and Yen in Asia-Pacífic trade. EUR/AUD is currently printing fresh 2-week highs at 1.2822 after much lower than expected Aus 1Q CPI showed a 0.1% increase while some +0.6% was expected, which opens the RBA doors for a rate cut next meeting May 1st. Local share markets are trading overall deep in the red. London session ahead brings a relatively quiet agenda in EUR macro data related with only EU industrial new orders at 09:00 GMT, though several sovereign debt auctions will take place, including short term Spanish one and longer term Italy and Netherlands from 08:00 to 09:00 GMT. Market will test Netherlands yields after recent government debacle.

AUD/USD has come under a new round of selling pressure on risk-off flows after soft consumer inflation data from down under, which has reinforced the case for a 25 basis point interest rate cut by the RBA at its meeting next week, and a possible 50 basis point rate cut over the next few months. The pair has pushed to a fresh 2-week low of 1.0246, down 0.7% from 1.0318 late Monday in New York.
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UPCOMING EVENTS
2012-04-24 07:30 GMT | Sweden Unemployment Rate (Mar)
2012-04-24 08:30 GMT | United Kingdom Public Sector Net Borrowing (Mar)
2012-04-24 09:00 GMT | Italy Wage Inflation (MoM) (Mar)
2012-04-24 09:00 GMT | Italy Wage Inflation (YoY) (Mar)

FOREX NEWS
2012-04-24 03:50 GMT | AUD/USD slides below 1.0250
2012-04-24 01:31 GMT | Australia 1Q Consumer Price Index (QoQ) 0.1%
2012-04-24 01:30 GMT | Australia 1Q Consumer Price Index (YoY) 1.6%
2012-04-24 00:14 GMT | China’s banks may find it harder to raise capital

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EURUSD : 1.31561 / 1.31568
DAILY WEEKLY MONTHLY

1.3351 | 1.3287 | 1.3226 | 1.3181
1.3118 | 1.3057 | 1.3000 | 1.2957

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD fell sharply and formed a strong support level close to 1.3100. Following that the price rebounded and broke above our Friday’s support and now is moving between that level and 1.3181 level. A break above that level we suggest further rise towards 1.3226 (R2) and further rise will then focus on next target at 1.3287 (R3). On the other hand if the price manages to stay below our first resistance level of 1.3181 (R1) then we expect the price to retest 1.3118 (S1) and a break below that level then the expected target is at 1.3057 (S2).

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GBPUSD : 1.61229 / 1.61241
DAILY WEEKLY MONTHLY

1.6291 | 1.6249 | 1.6187 | 1.6143
1.6078 | 1.6009 | 1.5963 | 1.5909

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD didn’t made any significant moves in yesterday’s session as it traded in a consolidation mode between the 1.6078 (S1) and 1.6143 (R1) levels. A break below 1.6078 would suggest a target at 1.6009 (S2) and further fall will then focus on 1.5963 (S3) a strong technical and psychological level. On the other hand if the price manages to stay above the first support (S1) level we expect the price to retest 1.6143 (R1) and a break above that level will concentrate our focus on 1.6187 (R2).

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USDJPY : 80.883 / 80.887
DAILY WEEKLY MONTHLY

82.89 | 82.41 | 81.77 | 81.20
80.73 | 80.29 | 79.57 | 79.13

SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

USDJPY continued to move downwards from 81.77, forming a new low above 80.73 (S1) this morning. A break below that level would suggest target at 80.29 (S2) and further fall will then focus on 79.57 (S3). Look for short positions in today’s trading session, as this is supported by the fact that both of our Moving Averages are turned bearish and are proving a strong resistance to the price. A stop loss should be placed at 81.20 (R1).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)

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Daily Forex Market by FXCC 23Apr2012

Mon, 23 Apr 2012 07:34:13 +0000

Daily Forex Market by FXCC 23Apr2012

EUR/USD steady below 1.3200

EUR/USD has been around the 1.3200 round mark up and down during Asian session, last at 1.3194, printing session lows at 1.3177 and highs at 1.3209, slightly below Friday's close. Local share markets trade in the red overall, with Nikkei index down by -0.19%. For the London session ahead not many big risk events Euro related will come out but PMI figures, first French one at 07:00 GMT, followed by Germany one half hour later, and EU manufacturing PMI at 08:00 GMT, all of them expected to come slightly better than previous.

Investors are fleeing the Australian Dollar through the Asian session on a lower-than-expected Australian PPI print, which came at +1.4 YoY, -0.3 QoQ actual against 2.2%, 0.4% consensus, respectively. The Australian Dollar had been trading sluggish in the lead-up to the event as equity markets turned from flat to red territory despite last Friday's risk appetite mood. The results make the case for an RBA rate cut in the next policy meeting even more likely now.
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UPCOMING EVENTS
2012-04-23 07:30 GMT | GermanyPurchasing Manager Index Manufacturing (Apr)
2012-04-23 07:30 GMT | GermanyPurchasing Manager Index Services (Apr)
2012-04-23 08:00 GMT | EU - Purchasing Manager Index Manufacturing (Apr)
2012-04-23 08:00 GMT | EU - Purchasing Manager Index Services (Apr)

FOREX NEWS
2012-04-23 05:03 GMT | Japan: Coincident Index (Feb): 95
2012-04-23 01:43 GMT | AUD/USD declines on Australia PPI data
2012-04-23 01:31 GMT | Australia 1Q Producer Price Index (QoQ) -0.3%
2012-04-23 01:30 GMT | Australia 1Q Producer Price Index (YoY) 1.4%

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EURUSD : 1.31897 / 1.31904
DAILY WEEKLY MONTHLY

1.3367 | 1.3313 | 1.3269 | 1.3214
1.3153 | 1.3102 | 1.3057 | 1.3000

SUMMARY :
TREND : Up trend
MA10 : Neutral
MA20 : Neutral
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD gained momentum in Friday’s session and formed a higher bottom and top, successfully penetrating Friday's resistance level. After that the price found a strong resistance at 1.3214 (R1) a strong technical level. We expect the price to move upwards but only a break above 1.3214 (R1) will give as a confirmation for long positions targeting 1.3269(R2) and further rise will then be limited at 1.3313 (R3). A stop loss should be placed above 1.3153 (S1).

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GBPUSD : 1.61166 / 1.61178
DAILY WEEKLY MONTHLY

1.6291 | 1.6247 | 1.6189 | 1.6143
1.6078 | 1.6009 | 1.5963 | 1.5909

SUMMARY :
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

GBPUSD made a sharp move upwards and successfully broke above Fridays’s resistance level continuing the upward move. As long as it is above our first support level 1.6078 (S1), we can look for long positions targeting 1.6247 (S3). A stop loss should be placed at 1.6009 (S2) but the most conservative and tactical traders can hold and wait for the break above 1.6143 (R1) to open their long positions.

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USDJPY : 81.286 / 81.292
DAILY WEEKLY MONTHLY

83.43 | 82.89 | 82.34 | 81.77
81.20 | 80.73 | 80.29 | 79.61

SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The USDJPY fell from 81.77 (R1) and formed a lower bottom at 81.25 after which the price rebounded from from that level. A break above the first resistance level of 81.77 (R1) would suggest a target and retest of 82.34 (R2). If the price holds its momentum on the upside we can expect a further rise towards 82.89 (R3). On the other hand, if the price does not manage to break above 81.77 (R1) we can expect the pair to retest support at 81.20 (S1) and a break below that level would suggest target at 80.73 (S2).

Source: FX Central Clearing Ltd, (You are not allowed to view links. Register or Login to view.)