Daily Forex Market by FXCC

[alayoua]

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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https://support.fxcc.com/email/technical/26042012/

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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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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https://support.fxcc.com/email/technical/27042012/

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.

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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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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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https://support.fxcc.com/email/technical/30042012/

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).

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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).

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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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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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https://support.fxcc.com/email/technical/01052012/


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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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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https://support.fxcc.com/email/technical/02052012/


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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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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https://support.fxcc.com/email/technical/03052012/

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

---------------------
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).

--------------
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).

------------
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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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.
Read More
https://support.fxcc.com/email/technical/10052012/

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

---------------
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.

------------------
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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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.
Read More
https://support.fxcc.com/email/technical/11052012/

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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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.
Read More
https://support.fxcc.com/email/technical/14052012/

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%

---------------
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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)

[alayoua]

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.
Read More
https://support.fxcc.com/email/technical/15052012/

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, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)