Daily Forex Market by FXCC

alayoua · December 28, 2012, 5:02am

[B]Forex Technical & Market Analysis FXCC Dec 28 2012

Fiscal cliff looms as US lawmakers play game of brinkmanship

The “fiscal cliff” steadfastly approaches and it is a fair assumption that no one will come up with a deal in time to stop the country from careening off the edge. Nearly everyone involved claims they want to avoid the automatic tax increases and colossal budget cuts that will start kicking in at the start of 2013, however few are ready to make the compromises necessary to make that happen.

As expected, anti-tax purists in the House Republican Caucus have gotten in the way of Speaker John A. Boehners attempts to come up with a fix for the fiscal cliff. Last week, he withdrew his doomed Plan B rather than let it go to a vote he knew he would lose. Democrats were united in their opposition, though what ultimately killed the scheme was the refusal of conservatives in Boehner’s own caucus to go along with a tax increase for millionaires. Boehner now seems to have washed his hands of responsibility and says it is up to the president and Democrats in the Senate to save the country from the New Year’s program cuts and tax increases that will come so fast and furiously that the economy could suffer. President Obama cut short his Hawaii vacation to return to the snow-covered capital hoping to concoct a last-minute deal in the eleventh hour. -FXstreet.com
https://support.fxcc.com/email/technical/28122012/

Forex Economic Calendar
2012-12-28 **:00 GMT | Italy. 10-y Bond Auction
2012-12-28 07:45 GMT | France. Gross Domestic Product (YoY) (Q3)
2012-12-28 15:00 GMT | United States. Pending Home Sales (YoY) (Nov)
2012-12-28 16:00 GMT | United States. EIA Crude Oil Stocks change (Dec 21)

Forex News
2012-12-28 04:21 GMT EUR/JPY stalling below 114.70 around fresh 16-month highs
2012-12-28 02:12 GMT EUR/USD below 1.3250 waiting for a ‘fiscal cliff’ outcome, what else?
2012-12-28 00:56 GMT USD/JPY shooting up above 86.50 on extreme overbought readings
2012-12-27 20:12 GMT USD/CAD reaches 1-month high

EURUSD :
HIGH 1.32527 LOW 1.32295 BID 1.32420 ASK 1.32426 CHANGE 0.06% TIME 07 : 51:55

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Price action looks mainly consolidative, though violation of our resistance at 1.3253 (R1) would be a signal of possible uptrend formation with next targets ahead at 1.3264 (R2) and 1.3276 (R3). Downwards scenario: Depreciation below the support at 1.3227 (S1) might trigger correction formation towards to next targets at 1.3215 (S2) and 1.3203 (S3)

Resistance Levels: 1.3253, 1.3264, 1.3276
Support Levels: 1.3227, 1.3215, 1.3203

GBPUSD :
HIGH 1.61211 LOW 1.60981 BID 1.61189 ASK 1.61199 CHANGE 0.13% TIME 07 : 51:56

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

Upwards scenario: Market sentiment looks neutral and upside movement is limited to resistance level at 1.6127 (R1). Surpassing of this level might enable next target at 1.6139 (R2) and any further gain would then be limited to last resistance at 1.6152 (R3). Downwards scenario: A break below the support at 1.6102 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.6090 (S2) and 1.6078 (S3).

Resistance Levels: 1.6127, 1.6139, 1.6152
Support Levels: 1.6102, 1.6090, 1.6078

USDJPY :
HIGH 86.629 LOW 86.066 BID 86.450 ASK 86.458 CHANGE 0.41% TIME 07 : 51:57

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

Upwards scenario: USDJPY might find buyers above the important resistance level at 86.63 (R1). Break here would open route towards to our next targets at 86.80 (R2) and 86.63 (R3). Downwards scenario: While instrument trades below the next resistance level, our intraday bias forecast would be negative. Penetration below the support level at 86.14 (S1) might open way towards to lower targets at 85.95 (S2) and 85.75 (S3).

Resistance Levels: 86.63, 86.80, 86.98
Support Levels: 86.14, 85.95, 85.75

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )[/B]

alayoua · December 31, 2012, 3:31am

[B]Forex Technical & Market Analysis FXCC Dec 31 2012

Time running short for ‘fiscal cliff’ deal

Well, it looks like negotiations on Capitol Hill are still ongoing and far apart to avoid January’s “fiscal cliff”, as the House and Senate are to reconvene later today, the final day for Congress to craft a resolution prior to the deadline. In a Sunday talk show, President Obama stated clearly that it appears the GOP’s top priority is to protect the tax rates for the wealthy, while his top priority is to ensure that taxes on the middle-class do not go up. Although the President says he remains optimistic, he also acknowledges that financial markets would be unfavorably impacted if the US economy stumbles off of the cliff.

As Kathy Lien, Managing Director at BK Asset Management explains in a research note: “If it becomes evident that a deal will be deferred to January, expect currencies and equities to sell-off in disappointment. With some major currencies pulling back and equities declining, we have already seen investors take profit and hedge their positions ahead of the Fiscal Cliff deadline. If Obama announces a stripped down plan and expresses confidence that a deal will be sealed by end of day Monday, we can expect currencies and equities to rally in relief.”
Forex Technical & Market Analysis: December 31 2012

Forex Economic Calendar

2012-12-31 10:00 GMT | Greece.Retail Sales (YoY) (Oct)
2012-12-31 11:30 GMT | India.Current Account Balance $ (Q3)
2012-12-31 12:00 GMT | South Africa.Trade Balance (in Rands) (Nov)
2012-12-31 15:30 GMT | USA.Dallas Fed Manufacturing Business Index (Dec)

Forex News

2012-12-31 05:53 GMT | EUR/USD ending 2012 +2% higher after all
2012-12-31 05:03 GMT | Time running short for ‘fiscal cliff’ deal
2012-12-31 03:26 GMT | USD/JPY capped at 86 round with Tokyo closed
2012-12-31 02:17 GMT | AUD/JPY finishing 2012 above 89.00

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.32345 | LOW: 1.31879 | BID: 1.31993 | ASK: 1.32000 | CHANGE: -0.13% | TIME: 08 : 02:34

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.3215 (R1). Immediate focus comes on 1.3233 (R2) and 1.3250 (R3) in such scenario. Downwards scenario: Price setup is looking for a pullback development. Downside fluctuations remains for now limited to next support level at 1.3187 (S1), only clear break here would be a signal of market easing with next targets at 1.3165 (S2) and 1.3143 (S3).

Resistance Levels: 1.3215, 1.3233, 1.3250
Support Levels: 1.3187, 1.3165, 1.3143

GBPUSD

HIGH: 1.61731 | LOW: 1.61507 | BID: 1.61551 | ASK: 1.61561 | CHANGE: -0.06% | TIME: 08 : 02:35

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

Upwards scenario: The pair might face key resistive bastion at 1.6169 (R1). A break above it might activate upside pressure and suggest the short-term targets at 1.6177 (R2) and 1.6186 (R3). Downwards scenario: Break below the support at 1.6152 (S1), would signal an end of retracement phase and open way for downtrend formation on the medium-term perspective. Possible targets could be found at 1.6144 (S2) and 1.6136 (S3).

Resistance Levels: 1.6169, 1.6177, 1.6186
Support Levels: 1.6152, 1.6144, 1.6136

USDJPY

HIGH: 86.173 | LOW: 85.696 | BID: 86.144 | ASK: 86.152 | CHANGE: 0.2% | TIME: 08 : 02:36

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

Upwards scenario: The pair might keep general upside move intact after some stabilization ahead. Appreciation above the next resistance at 86.24 (R1) would enable next targets at 86.38 (R2) and 86.55 (R3) in potential. Downwards scenario: Bearish penetration below the support at 85.90 (S1) might determine negative sentiment for the remaining of the day with possible targets in focus at 85.77 (S2) and 85.64 (S3) intraday.

Resistance Levels: 86.24, 86.38, 86.55
Support Levels: 85.90, 85.77, 85.64

Source: FX Central Clearing Ltd,( ECN FX Broker Platform | Forex Account | Currency Converter | FXCC )[/B]

alayoua · January 2, 2013, 4:57am

[B]Forex Technical & Market Analysis FXCC Jan 02 2013

US House passes fiscal cliff bill

After weeks of talks and negotiations, the House of Representatives has finally passed the fiscal cliff bill, with the ‘yea’ votes obtained surpassing the 217 threshold needed to approve the fiscal deal. The final vote count stood at 257-167 in favour of the bill. President Obama is ready to sign it into law.

The compromise, which first was agreed by Senate in early Tuesday morning, has come not without some last minute agitated negotiation disputes, in which Republicans wanted to challenge the approved senate-bill by sending it back for revision demanding additional spending cuts, with reports initially suggesting that the House Republicans would be adjourning any decision until Wednesday. Pending the signature of President Obama, expected to be done shortly, the US officially avoids that millions of citizens suffer tax hikes and spending reductions, which would have brought the U.S. economy into recession according to economists’ projections. Worth not forgetting though, is that still plentiful of unresolved pressing issues remain, with the most immediate being the need to raise the federal borrowing limit, with the deadline over 2 month from now.
Forex Technical & Market Analysis: January 01 2013

Forex Economic Calendar
2013-01-02 08:58 GMT | E.M.U. Markit Manufacturing PMI (Dec)
2013-01-02 09:28 GMT | United Kingdom. Markit Manufacturing PMI (Dec)
2013-01-02 13:00 GMT | Germany. Consumer Price Index (YoY) (Dec)
2013-01-02 15:00 GMT | United States. ISM Manufacturing PMI (Dec)

Forex News
2013-01-02 05:57 GMT | EUR/GBP holding upside bias above 0.8100
2013-01-02 04:52 GMT | USD/JPY above 87, most extreme overbought level since 2001
2013-01-02 03:50 GMT | USD/CAD drops below 0.99 on ‘cliff’ hopes
2013-01-02 03:00 GMT | GBP/USD breaks 1.63 ahead of House vote

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.32993 | LOW: 1.31873 | BID: 1.32729 | ASK: 1.32737 | CHANGE: 0.58% | TIME: 08 : 01:28

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Instrument might find buyers above the resistance at 1.3276 and moves to the next targets at 1.3285 and 1.3295 in case of sufficient momentum. Downwards scenario: Consolidation development might keep bears in play for eventual targets at 1.3243 and 1.3233 if the market participants mange to push through our next support level at 1.3252.

Resistance Levels: 1.3276, 1.3285, 1.3295
Support Levels: 1.3252, 1.3243, 1.3233

GBPUSD

HIGH: 1.63804 | LOW: 1.62277 | BID: 1.63200 | ASK: 1.63215 | CHANGE: 0.43% | TIME: 08 : 01:29

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

Upwards scenario: The next hurdle on the upside lies at 1.6381, any uptrend action above it would put in focus resistance barrier at 1.6402 as the near-term target. Next on tap final resistance at 1.6422. Downwards scenario: Today portion of the economic data releases might have significant effect on the price action, the 1.6292 mark is key support level in near-term perspective. Below here opens way towards to expected targets at 1.6270 and 1.6248.

Resistance Levels: 1.6381, 1.6402, 1.6422
Support Levels: 1.6292, 1.6270, 1.6248

USDJPY

HIGH: 87.294 | LOW: 86.538 | BID: 87.211 | ASK: 87.222 | CHANGE: 0.68% | TIME: 08 : 01:30

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

Upwards scenario: Next actual resistance level is seen at 87.29. If the market manages to surge higher, focus might returned to the target at 87.45 and further uptrend formation could be exhausted at 87.61 intraday. Downwards scenario: Market gains momentum during the Asian session and consolidation formation looks reasonable. Next supportive measure is seen at 86.90. Break through here might offer bearish signal and expose intraday targets at 86.73 and 86.55.

Resistance Levels: 87.29, 87.45, 87.61
Support Levels: 86.90, 86.73, 86.55

Source: FX Central Clearing Ltd,( Forex Training | Currency Converter | ECN Forex Trading Accounts | FXCC )[/B]

alayoua · January 3, 2013, 4:28am

[B]Forex Technical & Market Analysis FXCC Jan 03 2013

Congress Passes Fiscal Cliff Deal – The Breakdown

In a final hour maneuver, Congressional leaders brokered a deal that will allow the US economy to avert the Fiscal Cliff and alleviate pressure on the financial markets. The passage is being considered by some to be a victory for US President Barack Obama. But, by others, it shifts the focus to mid February when discussions are likely to begin over the impending debt ceiling.

With the bill set to be signed into law by US President Barack Obama, focus has now shifted to the impending debt ceiling debate – likely to begin in mid-February. The concern remains over the fact that Democratic leaders will need to make further concessions on spending to Republicans in order to allow an extension of the $16.4 trillion ceiling. An inability to do so would plunge the government into a plausible shutdown. This will likely include cutbacks in entitlement spending and other programs in order to equalize Republican concessions for the Fiscal Cliff deal.
Forex Technical & Market Analysis: January 03 2013

Forex Economic Calendar
2013-01-03 08:55 GMT | Germany. Unemployment Change (Dec)
2013-01-03 09:30 GMT | United Kingdom. PMI Construction (Dec)
2013-01-03 13:30 GMT | United States. Initial Jobless Claims (Dec 29)
2013-01-03 19:00 GMT | United States. FOMC Minutes

Forex News
2013-01-03 05:39 GMT | EUR/GBP struggling to maintain above 0.8100
2013-01-03 05:23 GMT | GBP/USD holding above 1.6200 as Europe approaches
2013-01-03 03:18 GMT | EUR/USD loses 1.3150; stalls at 21-DMA
2013-01-03 03:12 GMT | GBP/AUD finding support at 200 day SMA 1.5450

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.31903 | LOW: 1.31238 | BID: 1.31371 | ASK: 1.31377 | CHANGE: -0.36% | TIME: 07 : 48:13

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Hourly chart correction is possible above the next resistance level at 1.3170 (R1). Next initial targets locate at 1.3189 (R2) and 1.3208 (R3). Downwards scenario: There’s a negative bias that pressures our next support level at 1.3121 (S1). Loss here might enable further market downgrade towards to expected targets at 1.3104 (S2) and 1.3086 (S3).

Resistance Levels: 1.3170, 1.3189, 1.3208
Support Levels: 1.3121, 1.3104, 1.3086

GBPUSD

HIGH: 1.62551 | LOW: 1.62014 | BID: 1.62219 | ASK: 1.62231 | CHANGE: -0.19% | TIME: 07 : 48:14

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

Upwards scenario: Our next resistance level is placed at 1.6258 (R1). Progress above it might enable next step of uptrend development and expose our targets at 1.6277 (R2) and 1.6295 (R3). Downwards scenario: Retracement development is limited to the next support level at 1.6201 (S1). Clearance here might change trader’s sentiment to bearish and open road towards to next targets, located at 1.6183 (S2) and 1.6164 (S3).

Resistance Levels: 1.6258, 1.6277, 1.6295
Support Levels: 1.6201, 1.6183, 1.6164

USDJPY

HIGH: 87.356 | LOW: 87.092 | BID: 87.264 | ASK: 87.269 | CHANGE: -0.08% | TIME: 07 : 48:15

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

Upwards scenario: Market remains bullish oriented and next hurdle lies above the local high at 87.39 (R1).If the break occurs above it, next attractive level could be found 87.59 (R2) and any further rise would then be limited to 87.80 (R3). Downwards scenario: After the appreciation, provided yesterday price is stabilized and correction forces are possible below the support level at 86.96 (S1). Clearance here would suggest next target at 86.75 (S2). If the price holds its momentum on the downside we suggest final target for today at 86.55 (S3).

Resistance Levels: 87.39, 87.59, 87.80
Support Levels: 86.96, 86.75, 86.55

Source: FX Central Clearing Ltd, (ECN Forex Broker | ECN Forex Trading Platform | Foreign Currency Exchange | Best Currency Online Trading | FXCC)[/B]

alayoua · January 4, 2013, 5:36am

[B]Forex Technical & Market Analysis FXCC Jan 04 2013

Two largest rating agencies consider US fiscal cliff deal insufficient

Moody’s and Standard and Poor’s credit rating agencies urged US lawmakers on Thursday to increase their efforts to tackle the country’s budget deficit, as they consider the last-minute fiscal cliff measures insufficient. The deal which was struck on Tuesday between Democrats and Republicans, with the aim to avoid automatic year-end tax increases and spending cuts, improves the current situation but does not lay foundations for lowering debt ratios in the medium term, Moody’s rating agency told Reuters. Moody’s senior credit officer Steven Hess said that the agency would wait for the outcome of the measures adopted by the US government before making decisions on the rating outlook or the rating itself.

Pending the signature of President Obama, expected to be done shortly, the US officially avoids that millions of citizens suffer tax hikes and spending reductions, which would have brought the U.S. economy into recession according to economists’ projections. Worth not forgetting though, is that still plentiful of unresolved pressing issues remain, with the most immediate being the need to raise the federal borrowing limit, with the deadline over 2 month from now.-FXstreet.com
https://support.fxcc.com/email/technical/04012013/

Forex Economic Calendar
2013-01-04 09:30 GMT | United Kingdom. Markit Services PMI (Dec)
2013-01-04 10:00 GMT | E.M.U. Consumer Price Index (YoY) (Dec)
2013-01-04 13:30 GMT | United States. Nonfarm Payrolls (Dec)
2013-01-04 15:00 GMT | United States. ISM Non-Manufacturing PMI (Dec)

Forex News
2013-01-04 04:57 GMT | USD/JPY maximum pain to shorts above 87.50
2013-01-04 04:25 GMT | Constructive on EUR/USD towards 1.35 - Westpac
2013-01-04 03:53 GMT | NZD/USD finds support at 0.8220
2013-01-04 02:40 GMT | GBP/JPY stalls an 8 week run up below 141.00

TECHNICAL ANALYSIS

EURUSD

HIGH 1.30532 LOW 1.30191 BID 1.30426 ASK 1.30432 CHANGE -0.05% TIME 07 : 59:49

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: While EURUSD trades above the next support level, possibility of correction arises if market manages to break our resistance at 1.3082 (R1). In this case we would suggest next targets at 1.3111 (R2) and 1.3140 (R3) in potential. Downwards scenario: Medium term bias is clearly negative. If the market gains momentum and break below the next support at 1.3018 (S1), we suggest next targets to be placed at 1.2989 (S2) and 1.2961 (S3).

Resistance Levels: 1.3082, 1.3111, 1.3140
Support Levels: 1.3018, 1.2989, 1.2961

GBPUSD :
HIGH 1.61076 LOW 1.60569 BID 1.60780 ASK 1.60792 CHANGE -0.19% TIME 07 : 59:50

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

Upwards scenario: The upside movement looks protected by the next resistance level at 1.6113 (R1), located at the 20 SMA. Rise above it might change market sentiment to bullish on the short term perspective and expose intraday targets at 1.6142 (R2) and 1.6170 (R3).Downwards scenario: Our next support level, located at 1.6056 (S1) is the key point for the further downtrend development. Break here is required to put in focus lower targets at 1.6026 (S2) and 1.5995 (S3) in perspective.

Resistance Levels: 1.6113, 1.6142, 1.6170
Support Levels: 1.6056, 1.6026, 1.5995

USDJPY :
HIGH 87.831 LOW 87.239 BID 87.753 ASK 87.757 CHANGE 0.6% TIME 07 : 59:51

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

Upwards scenario: USDJPY gained momentum, turning intraday bias to the positive side. Our next resistance level for today is hold at 87.85 (R1). Rise above it might open route towards to next targets at 88.16 (R2) and 88.47 (R3). Downwards scenario: On the downside our reference point locates at 87.52 (S1), decrease below it might enable bearish pressure, targeting 87.23 (S2) and any further fall would then be limited by last support level at 86.94 (S3).

Resistance Levels: 87.85, 88.16, 88.47
Support Levels: 87.52, 87.23, 86.94

Source: FX Central Clearing Ltd,( Free Forex Demo Account | Forex Software | Forex Trading Blog | FXCC )[/B]

alayoua · January 7, 2013, 5:12am

[B]Forex Technical & Market Analysis FXCC Jan 07 2013

ECB, BOE in Prime Focus this Week

With the Fiscal Cliff behind us and the impending debt ceiling debate at least another month away, market focus will return to plain economic fundamentals next week. The sentiment is being bolstered by two central bank announcements – the ECB (January 10th, 7:45AM EST) and BOE (January 10th, 7:00AM EST). Although nothing really new is expected, both events are still likely to take the lion’s share of attention.

Nothing is expected to happen when the Bank of England meets for the first time in 2013. Although concerns have emerged over a divide in the central bank, it is unlikely that the monetary body will move to do anything other than wait-and-see. The key remains in the results from the Funding for Lending program, which is entering its sixth month of operation. In the same respect, the ECB is unlikely to move when it decides on interest rates on Thursday. Instead, monetary policy leaders will continue to highlight the option of the OMT scheme in quelling any more crisis concerns, and likely point to stabilization in the region’s member economies in justifying no rate change.
Forex Technical & Market Analysis: January 07 2013

Forex Economic Calendar
2013-01-07 09:30 GMT | E.M.U. Sentix Investor Confidence (Jan)
2013-01-07 10:00 GMT | E.M.U. Producer Price Index (YoY) (Nov)
2013-01-07 15:00 GMT | Canada. Ivey Purchasing Managers Index s.a (Dec)
2013-01-07 22:30 GMT | Australia. AiG Performance of Construction Index (Dec)

Forex News
2013-01-07 05:37 GMT | US Dollar buyers not giving up
2013-01-07 05:16 GMT | NZD/USD pressured below 0.8300
2013-01-07 04:19 GMT | EUR/USD, recovery above 1.3150 exposes 1.33 – BBH
2013-01-07 03:25 GMT | AUD/JPY multi-year highs capped below 93

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.30789 | LOW: 1.30283 | BID: 1.30356 | ASK: 1.30365 | CHANGE: -0.24% | TIME: 07 : 50:31

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Bearish pressure stays intact though retracement formation might take another step and refresh local highs above the resistance at 1.3065 (R1) would suggest next targets at 1.3082 (R2) and 1.3100 (R3) in potential. Downwards scenario: Next support comes in at the 1.3026 (S1) level. Loss here might keep the rally intact and drive market price towards to the next targets at 1.3009 (S2) and 1.2994 (S3).

Resistance Levels: 1.3065, 1.3082, 1.3100
Support Levels: 1.3026, 1.3009, 1.2994

GBPUSD

HIGH: 1.60817 | LOW: 1.60211 | BID: 1.60263 | ASK: 1.60275 | CHANGE: -0.27% | TIME: 07 : 50:32

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

Upwards scenario: Cable has bounced back, however If it manages to break above the next resistance level at 1.6082 (R1), we expect to see new step of uptrend development with possible targets at 1.6119 (R2) and 1.6160 (R3). Downwards scenario: Market sentiment has improved for the bearish oriented traders. Friday low is acting now as key support level at 1.6003 (S1), clearance here is required to attack lower targets at 1.5964 (S2) and 1.5924 (S3).

Resistance Levels: 1.6082, 1.6119, 1.6160
Support Levels: 1.6003, 1.5964, 1.5924

USDJPY

HIGH: 88.373 | LOW: 87.789 | BID: 87.838 | ASK: 87.844 | CHANGE: -0.34% | TIME: 07 : 50:33

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

Upwards scenario: USDJPY accomplished new step of uptrend formation and fall to the correction formation. Risk of further market increase is seen above the resistance at 87.95 (R1). Violation here might increase bullish pressure and expose next targets at 88.15 (R2) and 88.34 (R3). Downwards scenario: Bearish pressure remains in power today as both moving averages are pointing down. Next support level is seen at 87.59 (S1). Decline below it might resume weakness towards to our targets 87.40 (S2) and 87.22 (S3).

Resistance Levels: 87.95, 88.15, 88.34
Support Levels: 87.59, 87.40, 87.22د

Source: FX Central Clearing Ltd,( Currency Converter | Top ECN Forex Broker | Forex Demo Account | FXCC )[/B]

alayoua · January 8, 2013, 4:59am

[B]Forex Technical & Market Analysis FXCC Jan 08 2013

Japan to buy ESM bonds to stabilize the yen

The big story in the Asian session is the announcement by Japan of its commitment to purchase ESM bonds to help stabilize Europe, Japan Finance Minister Taro Aso told reporters. The decision-maker added that Japan will buy European ESM bonds using FX reserves, although amount of bond buys is undecided at this point, he said. In another Reuters headline, Mr. Aso said the buys will start as soon as today. Meanwhile, the Economic Revival Minister Amari said that upcoming BoJ stimulus will be “significant”.

Meanwhile,after months of uncertainty and struggle to reach a compromise in Congress, lawmakers finally voted on a deal to avoid falling completely off of the fiscal cliff. The agreement, voted on early New Year’s Day by the Senate, was finally passed by the House late at night, just days before the new Congress is sworn in. Tax reform dominated much of the heated debate in recent weeks, but the Democrats and Republicans finally reached an agreement in order to avoid a significant impact on economic activity, at least in the short-term.
Forex Technical & Market Analysis: January 08 2013

Forex Economic Calendar
2013-01-08 07:00 GMT | Germany. Trade Balance s.a. (Nov)
2013-01-08 10:00 GMT | E.M.U. Retail Sales (YoY) (Nov)
2013-01-08 11:00 GMT | Germany. Factory Orders n.s.a. (YoY) (Nov)
2013-01-08 20:00 GMT | United States. Consumer Credit Change (Nov)

Forex News
2013-01-08 05:59 GMT | GBP/USD moving sideways above 1.6100
2013-01-08 05:18 GMT | EUR/USD likely to remain on the defensive ahead of ECB
2013-01-08 04:41 GMT | AUD/USD at session lows below 1.0480
2013-01-08 04:21 GMT | EUR/AUD printing fresh weekly highs above 1.2500

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.31397 | LOW: 1.31035 | BID: 1.31231 | ASK: 1.31234 | CHANGE: 0.05% | TIME: 08 : 20:35

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Currently our next resistance level lie at fresh high formed today – 1.3139 (R1). Rise above it might provide sufficient space for the appreciation towards to next target at 1.3156 (R2). Final resistance for today could be found at 1.3171 (R3). Downwards scenario: Medium-term bias remains negative. Successful retest of our support at 1.3102 (S1) would suggest next targets at 1.3085 (S2) and 1.3069 (S3) in potential.

Resistance Levels: 1.3139, 1.3156, 1.3171
Support Levels: 1.3102, 1.3085, 1.3069

GBPUSD

HIGH: 1.61286 | LOW: 1.61014 | BID: 1.61026 | ASK: 1.61036 | CHANGE: -0.07% | TIME: 08 : 20:36

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

Upwards scenario: Both moving averages support current retracement formation from its initial downtrend. Positive market sentiment might be found above the key resistance level at 1.6130 (R1). Above here is possible appreciation towards to our resistance levels at 1.6148 (R2) and 1.6166 (R3). Downwards scenario: Next support level is seen at 1.6093 (S1), drop below it would suggest next target at 1.6076 (S2) and any further fall would then be targeting 1.6058 (S3).

Resistance Levels: 1.6130, 1.6148, 1.6166
Support Levels: 1.6093, 1.6076, 1.6058

USDJPY

HIGH: 87.807 | LOW: 87.234 | BID: 87.416 | ASK: 87.421 | CHANGE: -0.42% | TIME: 08 : 20:37

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

Upwards scenario: Next resistance level locates above the local peak at 87.81 (R1). Break here is required to enable next target at 87.95 (R2) and any further rise would then be limited to 88.09 (R3). Downwards scenario: Our initial support level lie at 87.40 (S1). Loss here would enable bearish forces and might expose lower targets at 87.26 (S2) and 87.12 (S3) during the day.

Resistance Levels: 87.81, 87.95, 88.09
Support Levels: 87.40, 87.26, 87.12

Source: FX Central Clearing Ltd, (FX Central Clearing Ltd)[/B]

ery86 · January 8, 2013, 8:03am

Here’s today economic calendar, for those interested:

Forex: Economic Calendar. Jan. 8, 2013 Market Mover

alayoua · January 9, 2013, 3:05am

[B]Forex Technical & Market Analysis FXCC Jan 09 2013

Eurozone crisis still far from over

Eurozone unemployment reached a record high of 11.8% in November, the European Commission reported on Tuesday. Data also showed an increase in youth unemployment to 24.4%. This proves that the crisis in the area is still far from over, despite recent opinions to the contrary (including European Commission head Jose Manuel Barroso’s hopeful declarations this morning). Martin van Vliet from ING, who notices this latest wave of optimism among Eurozone consumers and businesses suggests that “with more fiscal austerity in the pipeline, the debt crisis still unresolved, and unemployment rising (and hitting a fresh record high of 11.8% in November), consumers and hence businesses still have plenty to worry about. Moreover, despite the recent improvement, Eurozone economic sentiment remains in recession territory.”

German Chancellor Angela Merkel held a meeting with Greek PM Antonis Samaras in Berlin on Tuesday, during which the Greek leader assured that his country was delivering on promises to implement austerity measures and was carrying out reforms in return for European aid. “We are trying to win back credibility, on the part of the people of Europe and on the part of the markets,” Samaras told reporters during a press conference. Angela Merkel praised Greece’s efforts to reduce its debt load so far and expressed her interest in the progress of implementation of the previously agreed austerity measures. She also warned that 2013 will be a tough year for the Eurozone. “We must agree on stronger economic policy cooperation by June this year, and there is plenty of work ahead of us,” she said.
Forex Technical & Market Analysis: January 09 2013

Forex Economic Calendar

2013-01-09 09:30 GMT | United Kingdom. Goods Trade Balance (Nov)
2013-01-09 10:00 GMT | E.M.U. Gross Domestic Product s.a. (QoQ) (Q4)
2013-01-09 11:00 GMT | Germany. Industrial Production s.a. w.d.a. (YoY) (Nov)
2013-01-09 13:15 GMT | Canada. Housing Starts s.a (YoY) (Dec)

Forex News

2013-01-09 05:17 GMT | EUR/USD lacks stimulus; earnings, Fed speeches, ECB eyed
2013-01-09 05:05 GMT | GBP/USD looking again toward 1.6000
2013-01-09 04:13 GMT | EUR/JPY below MoF Aso ESM level of 114.55-60
2013-01-09 02:36 GMT | USD/JPY moves above descending trend line; hits 87.50

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.30933 | LOW: 1.30671 | BID: 1.30843 | ASK: 1.30849 | CHANGE: 0.03% | TIME: 08 : 18:43

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Appreciation above the 1.3103 (R1) might boost the upside pressure. Next visible resistance levels are expected at 1.3118 (R2) and 1.3134 (R3) in potential. Downwards scenario: Fresh low, formed today is pointing to key short-term support level at 1.3067 (S1). Decline below it would suggest next intraday target at 1.3052 (S2) and any further easing would then be targeting 1.3036 (S3).

Resistance Levels: 1.3103, 1.3118, 1.3134
Support Levels: 1.3067, 1.3052, 1.3036

GBPUSD

HIGH: 1.60684 | LOW: 1.60368 | BID: 1.60533 | ASK: 1.60543 | CHANGE: 0.01% | TIME: 08 : 18:44

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

Upwards scenario: Our retail trading market sentiment indicator shows, that market participants are bullish. Penetration above the 1.6069 (R1) might lead to the protective orders execution and drive market price towards to next targets at 1.6088 (R2) and 1.6105 (R3). Downwards scenario: Next support level stays at 1.6036 (S1). Break here would suggest next target at 1.6020 (S2) and any further fall would then be limited by last support at 1.6003 (S3).

Resistance Levels: 1.6069, 1.6088, 1.6105
Support Levels: 1.6036, 1.6020, 1.6003

USDJPY

HIGH: 87.543 | LOW: 86.829 | BID: 87.387 | ASK: 87.393 | CHANGE: 0.41% | TIME: 08 : 18:45

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

Upwards scenario: The short-term tendency for the price is oriented to the upside. Our next resistance level is placed above the local peak at 87.56 (R1). Strengthening above it would point to resistive structure at 87.71 (R2) onto 87.86 (R3). Downwards scenario: If the pair gains momentum today on the downside and overcome our next support level at 87.22 (S1) then intraday outlook would turn into negative territory. Possible targets could be exposed at 87.07 (S2) and 86.92 (S3).

Resistance Levels: 87.56, 87.71, 87.86
Support Levels: 87.22, 87.07, 86.92

Source: FX Central Clearing Ltd,( Forex Trading Education | ECN Trading Forex Account | FXCC )[/B]

alayoua · January 10, 2013, 5:06am

[B]Forex Technical & Market Analysis FXCC Jan 10 2013

Limited chance of ECB rate cut in January; BoE unlikely to act

Not much excitement is expected from the first ECB and BoE monetary policy meetings of 2013, as the majority of economists believe both central banks will remain on hold this month. Nevertheless, there are some doubts concerning ECB’s action, as Mario Draghi hinted in December at a possibility of another rate reduction.

The general expectation for ECB’s January monetary policy meeting is that of no change. Despite the fact that the central bank signalized its readiness to perform further rate cuts, “they know as well as everyone else in the market that we can’t carry on with such low interest rates for ever,” as Steve Ruffley suggests. Other contributors point out that the OMT program has brought relief to the markets, that peripheral countries’ bond yields have dropped and that “fundamentals are showing signs of stabilization in major countries like France and Germany,” in the words of Richard C. Lee, and that all of these factors significantly reduce the need for a cut.
https://support.fxcc.com/email/technical/10012013/

Forex Economic Calendar
2013-01-10 12:00 GMT | United Kingdom. BoE Interest Rate Decision
2013-01-10 12:45 GMT | E.M.U. ECB Interest Rate Decision
2013-01-10 13:30 GMT | Canada. New Housing Price Index (YoY) (Nov)
2013-01-10 23:50 GMT | Japan. Trade Balance - BOP Basis (Nov)

Forex News
2013-01-10 05:34 GMT | EUR/GBP flat around 0.8150 ahead of BoE/ECB
2013-01-10 05:34 GMT | Can the ECB bring clarity to the EUR/USD?
2013-01-10 05:18 GMT | NZD/JPY highest since Sept 2008 above 74.00
2013-01-10 04:52 GMT | USD/JPY rally reaching a peak - ANZ

TECHNICAL ANALYSIS

EURUSD :
HIGH 1.30661 LOW 1.30388 BID 1.30458 ASK 1.30464 CHANGE -0.14% TIME 07 : 55:11

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Immediate resistance is seen at 1.3058 (R1). If the price manages to overcome it we suggest next target at 1.3073 (R2) with possibility to reach final resistance at 1.3087 (R3). Today in focus- ECB Rate decision at 12:45 GMT. Downwards scenario: While both moving averages are pointing down, medium-term negative market sentiment would be valid. Key support lie at 1.3036 (S1), below here opens route towards to our initial targets at 1.3021 (S2) and 1.3005 (S3).

Resistance Levels: 1.3058, 1.3073, 1.3087
Support Levels: 1.3036, 1.3021, 1.3005

GBPUSD :
HIGH 1.60269 LOW 1.6004 BID 1.60102 ASK 1.60112 CHANGE -0.07% TIME 07 : 55:12

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

Upwards scenario: BOE Interest Rate decision at 12:00 GMT might increase volatility today. Next immediate resistance is seen at 1.6036 (R1). Above that level opens a route towards to higher target at 1.6059 (R2) and any further price advance would then be targeting 1.6083 (R3). Downwards scenario: Market seems to have found a base at fresh low formed yesterday. Below here locates our next support level at 1.5992 (S1) and opens way towards to immediate supports at 1.5969 (S2) and 1.5945 (S3).

Resistance Levels: 1.6036, 1.6059, 1.6083
Support Levels: 1.5992, 1.5969, 1.5945

USDJPY :
HIGH 88.213 LOW 87.862 BID 88.178 ASK 88.183 CHANGE 0.35% TIME 07 : 55:13

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

Upwards scenario: USDJPY having during the Asian session and found an element of resistive measures at 88.22 (R1). Clearance of this level would suggest uptrend development with possible targets at 88.36 (R2) and 88.51 (R3) Downwards scenario: A corrective phase might occur below the immediate support level at 88.00 (S1). Clearance here is required to develop a short-term bearish momentum and expose our next target at 87.85 (S2). Any further correction would then be targeting 87.70 (S3).

Resistance Levels: 88.22, 88.36, 88.51
Support Levels: 88.00, 87.85, 87.70

Source: FX Central Clearing Ltd,( Currency Converter | Forex ECN Broker | Forex Demo Account |FXCC )[/B]

alayoua · January 11, 2013, 2:58am

[B]Forex Technical & Market Analysis FXCC Jan 11 2013

Cautious economic optimism induces ECB to hold rates

The ECB Governing Council unanimously decided to maintain the main interest rate at 0.75% at their first monetary policy meeting of 2013. ECB head Mario Draghi revealed a more positive outlook on the European crisis during the press conference following the interest rate announcement. The president suggested that inflation should decline below 2% during 2013. He said that economic weakness in the Eurozone will extend into the new year but that it should give way to a recovery later in the year, as confidence in financial markets is improving gradually and bond yields are seen falling considerably. Credit conditions, already satisfactory, should continue improving as well, as the two long term refinancing operations helped stave off disorderly delevering.

Mario Draghi stressed the importance of a rapid implementation of structural reforms by Eurozone governments in order to increase competitiveness in the area. This should boost growth potential and lead to a rise in employment. The ECB head also pointed out the necessity of establishing an integrated financial framework in the Eurozone of which the “single supervisory mechanism (SSM) is one of the main building blocks.” Jamie Coleman from Forex Live comments on ECB’s lack of action this month: “Draghi did the euro a lot of good in the near-term by taking a rate cut off the table. But in the bigger picture he’s done the ECB a disservice by leading the market to expect a rate cut at the December meeting only to change tack nearly 180 degrees at the following meeting. Central bankers are not supposed to react to each and every blip in sentiment and it appears that Draghi is doing just that.”
https://support.fxcc.com/email/technical/11012013/

Forex Economic Calendar
2013-01-11 : GMT | United Kingdom. 10-y Bond Auction
2013-01-11 09:30 GMT | United KIngdom. Industrial Production (YoY) (Nov)
2013-01-11 13:30 GMT | United States. Trade Balance (Nov)
2013-01-11 15:00 GMT | United Kingdom. NIESR GDP Estimate (3M) (Dec)

Forex News
2013-01-11 05:42 GMT | EUR/GBP stalls the run higher ahead of key 0.8230 level
2013-01-11 05:31 GMT | NZD/JPY bears defend 75.40
2013-01-11 03:59 GMT | EUR/USD wallowing below 1.3300 ahead of the weekend
2013-01-11 02:40 GMT | NZD/USD at session lows below 0.8450

EURUSD :
HIGH 1.32792 LOW 1.32504 BID 1.32582 ASK 1.32588 CHANGE -0.06% TIME 08 : 17:23

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD gained momentum and formed clear uptrend formation. Currently price is stabilized near its high and resistance at 1.3277 (R1) is the next attractive point. If a break occurs here we expect gradual increase towards to our targets at 1.3288 (R2) and 1.3300 (R3). Downwards scenario: Negative market sentiment would be provided if price decline below the low of the day at 1.3247 (S1). An hourly chart price setup is suggest next retracement formation targets at 1.3236 (S2) and 1.3224 (S3).

Resistance Levels: 1.3277, 1.3288, 1.3300
Support Levels: 1.3247, 1.3236, 1.3224

GBPUSD :
HIGH 1.61773 LOW 1.61441 BID 1.61486 ASK 1.61497 CHANGE -0.11% TIME 08 : 17:24

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

Upwards scenario: If GBPUSD gains momentum and rose above the resistance at 1.6177 (R1), we expect further uptrend formation with next targets at 1.6191 (R2) and 1.6204 (R3) later on today. Downwards scenario: A short-term negative tendency might face immediate support at 1.6141 (S1). Below here open route towards to expected targets at 1.6127 (S2) and 1.6112 (S3).

Resistance Levels: 1.6177, 1.6191, 1.6204
Support Levels: 1.6141, 1.6127, 1.6112

USDJPY :
HIGH 89.346 LOW 88.689 BID 89.047 ASK 89.053 CHANGE 0.32% TIME 08 : 17:24

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

Upwards scenario: Medium term bias remains positive after slight correction, provided today. Our next resistance is placed at 89.35 (R1). Rise above it might push price towards to next targets at 89.53 (R2) and 89.70 (R3) intraday. Downwards scenario: Current price deviation might face next support level at 88.77 (S1). We expect price downgrade towards to our targets at 88.59 (S2) and 88.41 (S3) as a part of consolidation formation in case of successful penetration below it.

Resistance Levels: 89.35, 89.53, 89.70
Support Levels: 88.77, 88.59, 88.41

Source: FX Central Clearing Ltd, (FX Central Clearing Ltd)[/B]

alayoua · January 14, 2013, 5:20am

[B]Forex Technical & Market Analysis FXCC Jan 14 2013

Focus on Bernanke speech; revenge of the doves?

With the European debt crisis temporarily buried underground, and the US debt ceiling still too many weeks far down the road to become a pressing issue, most of the weekend headlines were stolen by Japan and its quest to set a highly ambitious 2% inflation. However, on the horizon the sound of helicopter helices loom, as Federal Reserve President Ben Bernanke prepares to give a speech at the University of Michigan at 21GMT, NY close time, following the latest controversial FOMC minutes.

NAB notes: “This is his first public address since the December FOMC minutes that sparked so much chatter and market volatility surrounding the possibility that the Fed could mark time on the current phase of its QE programme by year end.” NAB expects Bernanke’s comments “to be directed at disabusing his audience that stropping balance sheet expansion as a prelude to commencing to take back policy stimulus are events that could be separated by years not months” the bank says. “If so, expect the USD to be subject to some fresh downward pressure…” NAB concludes.
Forex Technical & Market Analysis: January 14 2013

Forex Economic Calendar
2013-01-14 07:00 GMT | Germany. Wholesale Price Index (MoM) (Dec)
2013-01-14 10:00 GMT | E.M.U. Industrial Production w.d.a. (YoY) (Nov)
2013-01-14 15:30 GMT | Canada. Bank of Canada Business Outlook Survey
2013-01-14 21:00 GMT | United States. Fed’s Bernanke Speech

Forex News
2013-01-14 04:49 GMT | USD/JPY, watch the 20EMA for clues
2013-01-14 04:43 GMT | GBP/JPY climbing toward 145.00
2013-01-14 04:31 GMT | AUD/USD reverses course, back to fresh session highs
2013-01-14 03:27 GMT | EUR/USD prints fresh 10-month high at 1.3404

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.34036 | LOW: 1.33497 | BID: 1.33882 | ASK: 1.33890 | CHANGE: 0.35% | TIME: 08 : 02:49

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: EURJPY gained momentum on the upside and formed local high at 1.3404 (R1). In a thin market and economic calendar like today we are not expecting significant volatility increase, though a break here would suggest next targets at 1.3434 (R2) and 1.3463 (R3). Downwards scenario: Possibility of consolidation formation is high today. Decline below the support level at 1.3364 (S1) might initiate protective orders execution and drive market price towards to next support levels at 1.3336 (S2) and 1.3307 (S3).

Resistance Levels: 1.3404, 1.3434, 1.3463
Support Levels: 1.3364, 1.3336, 1.3307

GBPUSD

HIGH: 1.61544 | LOW: 1.61168 | BID: 1.61397 | ASK: 1.61409 | CHANGE: 0.08% | TIME: 08 : 02:50

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

Upwards scenario: The GBPUSD is now losing upside momentum after the former strength. Next resistance ahead is seen at 1.6158 (R1). Rising up above this level would suggest next targets at 1.6180 (R2) and 1.6200 (R3) in potential Downwards scenario: If instrument gains momentum on the downside, we expect to see penetration below the next support at 1.6127 (S1). In such scenario we suggest next targets at 1.6106 (S2) and 1.6083 (S3).

Resistance Levels: 1.6158, 1.6180, 1.6200
Support Levels: 1.6127, 1.6106, 1.6083

USDJPY

HIGH: 89.667 | LOW: 89.249 | BID: 89.613 | ASK: 89.618 | CHANGE: 0.49% | TIME: 08 : 02:51

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

Upwards scenario: Measures of resistance might be activating when the pair approaches the 89.70 (R1), break here would suggest next target at 89.93 (R2). If the price holds its momentum on the upside we can expect final target at 90.17 (R3). Downwards scenario: Our 20 Simple Moving Average at 89.34 (S1) acts as next support level. Below here opens the way for a return to 89.09 (S2) price level. Potential is seen to reach final target for today at 88.85 (S3).

Resistance Levels: 89.70, 89.93, 90.17
Support Levels: 89.34, 89.09, 88.85

Source: FX Central Clearing Ltd,( Forex Trading Education | ECN Trading Forex Account | FXCC )[/B]

alayoua · January 15, 2013, 2:32am

[B]Forex Technical & Market Analysis FXCC Jan 15 2013

Bernanke provides no signs of QE expiration; raising debt ceiling crucial

Ben Bernanke is giving a speech at the University of Michigan, with the talk centered on two big issues. One is the long run sustainability of the US debt, while the other is the fragile recovery. Fed’s Bernanke said Federal budget must be brought under control, warning that plans to adjust the budget should be carefully well thought in order to avoid pushing the economy into recession He said that the economy “is not out of the woods”, and stressed the improved optimism after the fiscal cliff deal, which in Bernanke’s words, “eliminated a good bit of the restrictive components.”

Fed’s Bernanke noted ‘some modest improvement’ in jobs market, although he wants to see rosier numbers in the economy and the labour market. With regards to the number of tools available to stimulate the economy, Bernanke said “the Fed is not out of ammunition”, adding that judging by the reaction of markets since the establishments of the first QE program, “overall QE has succeeded in reducing long-term rates; we have found (QE) to be an effective tool.” Bernanke said is early to determine the effect of asset purchases, suggesting the extension of QE in the near term seems a done deal, while waiting further proves, especially in the labour market, to determine length of QE extension. While growth has been moderate, the housing sector, has shown positives signs, Bernanke said. “For the first time since 06/07 we have seen sustained increase in home prices, which should help us throughout the year…” FXCC Market Update 15-01-2013

Forex Economic Calendar
2013-01-15 07:00 GMT | Germany. Harmonised Index of Consumer Prices (YoY) (Dec)
2013-01-15 08:00 GMT | Germany. Gross Domestic Product n.s.a (YoY)
2013-01-15 09:30 GMT | United Kingdom. Core Consumer Price Index (YoY) (Dec)
2013-01-15 13:30 GMT | United States. Retail Sales (MoM) (Dec)

Forex News
2013-01-15 05:18 GMT | GBP/USD consolidates below 1.61 ahead of UK data
2013-01-15 04:39 GMT | EUR/AUD capped below 1.2700
2013-01-15 04:05 GMT | EUR/JPY strong rejection from 120s breaks below 119
2013-01-15 03:14 GMT | USD/JPY longs run to the exits; 88.62 new weekly low

TECHNICAL ANALYSIS

EURUSD :
HIGH 1.33935 LOW 1.33482 BID 1.33557 ASK 1.33566 CHANGE -0.2% TIME 07 : 56:31

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Market sentiment looks balanced and false beak outs are possible. Appreciation above the next resistance level at 1.3404 (R1) might establish new leg of uptrend formation and enable higher targets at 1.3434 (R2) and 1.346 (R3). Downwards scenario: Current market structure remains consolidative and easing below the support level at 1.3336 (S1) is likely scenario for today. Our targets located at 1.3307 (S2) and 1.3280 (S3) in perspective.

Resistance Levels: 1.3404, 1.3434, 1.3463
Support Levels: 1.3336, 1.3307, 1.3280

GBPUSD :
HIGH 1.60938 LOW 1.60674 BID 1.60713 ASK 1.60723 CHANGE -0.02% TIME 07 : 56:32

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

Upwards scenario: Instrument trapped to the range mode condition on the medium-term perspective. Risks of market strengthening are seen above the next resistance level at 1.6097 (R1). Our suggested targets locates at 1.6117 (R2) and 1.6138 (R3). Downwards scenario: Signal of instrument depreciation would be created if it manages to surpass support level at 1.6064 (S1). Next support levels are seen at 1.6045 (S2) and 1.6026 (S3).

Resistance Levels: 1.6097, 1.6117, 1.6138
Support Levels: 1.6064, 1.6045, 1.6026

USDJPY :
HIGH 89.629 LOW 88.618 BID 88.969 ASK 88.975 CHANGE -0.56% TIME 07 : 56:33

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

Upwards scenario: We are not expecting significant price deviation today, though risk of positive tone establishment is seen above the next resistance level at 89.30 (R1). Any penetration above this level would put in focus higher targets at 89.54 (R2) and 89.79 (R3). Downwards scenario: We suspect that the market might extend short term losses below the fresh low formed today. Easing below our support at 88.60 (S1) would suggest next targets at 88.36 (S3) and 88.10 (S3).

Resistance Levels: 89.30, 89.54, 89.79
Support Levels: 88.60, 88.36, 88.10

Source: FX Central Clearing Ltd,( Currency Converter | Forex ECN Broker | Forex Demo Account |FXCC )[/B]

alayoua · January 16, 2013, 5:40am

[B]Forex Technical & Market Analysis FXCC Jan 16 2013

Fitch warns it might cut US rating

Much to the chagrin of investors, a fresh warning from the ratings agency Fitch was issues, stating that a debt ceiling failure would likely cause a ratings review. “…With no legal authorization for net debt issuance, the Treasury would be forced to immediately eliminate the deficit – a fiscal contraction twice as great as the recently avoided ‘fiscal cliff’ – arrears on such obligations would not constitute a default event from a sovereign rating perspective, but very likely prompt a downgrade even as debt obligations continued to be met.” As such, Fitch Ratings’ expectation – along with that of the American public and general contingent of market participants – is that Congress will raise the debt ceiling, thereby leaving the risk of a U.S. sovereign default as extremely low. “Nonetheless, a, failure to raise the debt ceiling in a timely manner will prompt a formal review of the U.S. sovereign ratings.” notes Joe Wiesenthal.
Forex Technical & Market Analysis: January 16 2013

Forex Economic Calendar

2013-01-16 10:00 GMT | E.M.U. Consumer Price Index (YoY) (Dec)
2013-01-16 13:30 GMT | United States. Consumer Price Index (YoY) (Dec)
2013-01-16 15:30 GMT | United States. EIA Crude Oil Stocks change (Jan 11)
2013-01-16 19:00 GMT | United States. Fed’s Beige Book

Forex News

2013-01-16 05:28 GMT | GBP/USD little changed above 1.6050
2013-01-16 05:10 GMT | EUR/GBP back to flat for the week; above 0.8250
2013-01-16 04:14 GMT | AUD/JPY dips below 93.00, finds 200-hr EMA
2013-01-16 03:40 GMT | GBP/JPY dealing with weekly lows around 141.70

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.33173 | LOW: 1.32788 | BID: 1.32870 | ASK: 1.32876 | CHANGE: -0.13% | TIME: 08 : 00:18

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Potential is seen for break above the 1.3318 (R1) today. In such scenario we suggest next target at 1.3345 (R2) and any further appreciation would then be targeting last resistance level at 1.3371 (R3). Downwards scenario: If it fail to go higher, we might see further retracement development below the key support at 1.3262 (S1) with next target in focus at 1.3240 (S2). Final target locates at 1.3217 (S3).

Resistance Levels: 1.3318, 1.3345, 1.3371
Support Levels: 1.3262, 1.3240, 1.3217

GBPUSD

HIGH: 1.60803 | LOW: 1.60513 | BID: 1.60544 | ASK: 1.60555 | CHANGE: -0.06% | TIME: 08 : 00:19

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

Upwards scenario: Market having failed to establish directional movement yesterday and we expect some volatility increase ahead. Possible strengthening might arise above the next resistance level at 1.6067 (R1). Next targets holds at 1.6079 (R2) and 1.6090 (R3) levels. Downwards scenario: Our focus now shifted to the next support level at 1.6031 (S1). Extension of losses below it might push price towards to our targets at 1.6019 (S2) and 1.6007 (S3) by forming downtrend formation.

Resistance Levels: 1.6067, 1.6079, 1.6090
Support Levels: 1.6031, 1.6019, 1.6007

USDJPY

HIGH: 88.87 | LOW: 87.946 | BID: 88.156 | ASK: 88.162 | CHANGE: -0.69% | TIME: 08 : 00:20

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

Upwards scenario: We do expect some pull-backs on the upside and place our next resistance level at 88.28 (R1). Break here would enable next targets at 88.47 (R2) and 88.64 (R3). Downwards scenario: Significant retracement during the Asian session established negative market sentiment for today. Possible depreciation below the next support level at 87.95 (S1) would suggest next targets at 87.76 (S2) and 87.58 (S3).

Resistance Levels: 88.28, 88.47, 88.64
Support Levels: 87.95, 87.76, 87.58

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )[/B]

alayoua · January 17, 2013, 5:55am

[B]Forex Technical & Market Analysis FXCC Jan 17 2013

Nowotny’s comments boost the euro

The member of the ECB governing council Ewald Nowotny declared at the Euromoney press conference in Austria on Wednesday that the Eurozone is bound to contract in 2013 and that growth would return in 2014. Nowotny warned that economic activity would decrease this year, adding however that this trend should start reverting in the third semester of the year. Nevertheless, he suggested that growth would not come back until the beginning of 2014. Nowotny also commented that the euro exchange rate is “not a matter of major concern,” responding to Luxembourg Prime Minister Jean Claude-Juncker’s earlier concerns over the excessive strength of the currency. He assured that EU banks depend less and less on the central bank’s funding.

After a year of upheaval across peripheral Europe in 2012, the single currency managed to notch a steadfast gain against its American counterpart during the latter months. Quantifying this advance into the frame of the previous six months however, the EUR has climbed a sizable +8.0% against the USD – posing a fresh threat to the European economy just as many had assumed it was in escape velocity from its debt crisis.
Forex Technical & Market Analysis: January 17 2013

Forex Economic Calendar
2013-01-17 09:00 GMT | E.M.U. ECB Monthly Report
2013-01-17 13:30 GMT | United States. Housing Starts (MoM) (Dec)
2013-01-17 15:00 GMT | United States. Philadelphia Fed Manufacturing Survey (Jan)
2013-01-17 21:45 GMT | Australia. Consumer Price Index (YoY) (Q4)

Forex News
2013-01-17 05:25 GMT | GBP/JPY holding 141.00
2013-01-17 05:16 GMT | EUR/USD in need of 1.3250-1.3310 break
2013-01-17 04:35 GMT | Top-heavy AUD/JPY looking South
2013-01-17 03:35 GMT | AUD/USD dip eyes 1.0500, threatening to continue

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.33147 | LOW: 1.32699 | BID: 1.32803 | ASK: 1.32809 | CHANGE: -0.06% | TIME: 07 : 57:55

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: After the consolidation provided market sentiment is slightly improved for the Euro. Further appreciation needs to clear barrier at 1.3318 (R1). Intraday targets could be found at 1.3333 (R2) and then at 1.3347 (R3). Downwards scenario: Downwards scenario: Market decline below the support level at 1.3269 (S1) might change overall technical picture and shift market sentiment to the bearish side. In such scenario we expect next targets to be exposed at 1.3254 (S2) and 1.3239 (S3)

Resistance Levels: 1.3318, 1.3333, 1.3347
Support Levels: 1.3269, 1.3254, 1.3239

GBPUSD

HIGH: 1.60171 | LOW: 1.59806 | BID: 1.59964 | ASK: 1.59971 | CHANGE: -0.05% | TIME: 07 : 57:56

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

Upwards scenario: Possibility of the downtrend recovery is seen above the local high formed today at 1.6018 (R1). Price extension might validate next intraday targets at 1.6029 (R2) and 1.6041 (R3) in case of successful appreciation above it.Downwards scenario: Cable is consolidating after its losses. A break below the support at 1.5980 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.5970 (S2) and 1.5959 (S3).

Resistance Levels: 1.6018, 1.6029, 1.6041
Support Levels: 1.5980, 1.5970, 1.5959

USDJPY

HIGH: 88.79 | LOW: 88.133 | BID: 88.658 | ASK: 88.665 | CHANGE: 0.32% | TIME: 07 : 57:58

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

Upwards scenario: Appreciation above the 88.79 (R1) might boost the upside pressure. Next visible resistance levels are expected at 88.91 (R2) and 89.04 (R3) in potential. Downwards scenario: Next support level locates at 88.54 (S1), breaching of this level is significant to extend the downside pressure towards to next support 88.40 (S2). If the price manages to overcome it, our final target for today would be found at 88.26 (S3).

Resistance Levels: 88.79, 88.91, 89.04
Support Levels: 88.54, 88.40, 88.26

Source: FX Central Clearing Ltd,( Forex Training | Best Automatic Forex Trading Platforms | FXCC )[/B]

alayoua · January 18, 2013, 3:06am

[B]Forex Technical & Market Analysis FXCC Jan 18 2013

Fiscal negotiations hope to avoid destabilizing a fragile US economy

The remainder of 2012 and early 2013 has thus far been dominated by the “fiscal cliff” negotiations in Washington and the unfinished business associated with them. The repercussions of these political decisions will have far-reaching consequences on the economy, confidence, financial markets and perhaps most importantly, the US credit rating. In the immediate sense, automatic tax increases and mandatory spending cuts set to go into effect in January, amounting to as much as 5% of GDP would – if implemented – most likely drive an already fragile US economy into recession. “By contrast, a ‘kicking the can down the road; solution or underlying mentality of extending all tax cuts and forestalling any spending cuts would only simply defer many tough decisions and would likely lead to another US credit downgrade and weaker business and consumer confidence.” warns Larry V. Adam, an analyst at Deutsche Bank.

We believe that Congressional leaders will ultimately avoid these two extreme alternatives and form a compromise, however in a two- stage process. The first phase will include not extending the payroll tax cut and additional unemployment benefits into next year. The proceeds will be used as a down payment to avoid the implementation of the “sequestration” (i.e. automatic) cuts and allow the Bush-era tax cuts to be extended for an additional six months. In addition, leaders will then develop a “framework” of reduced tax deductions, possible tax increases, targeted spending cuts and entitlement reform to agree upon a more comprehensive long-term solution in a second phase of negotiations early next year. Ultimately, “assuming a fiscal cliff compromise is achieved in Washington that prudently balances growth and austerity, a recession will likely be averted.” Adam suggests. However, the US economy will grow at a tepid 2% rate over 2013 as a whole, as the “fiscal cliff,” even in its modified form, could cause a drag of approximately 1.5% to GDP. FXCC Market Update 18-01-2013

Forex Economic Calendar
2013-01-18 09:00 GMT | Italy. Industrial Orders n.s.a (YoY) (Nov)
2013-01-18 09:30 GMT | United Kingdom. Retail Sales (YoY) (Dec)
2013-01-18 13:30 GMT | Switzerland. Manufacturing Shipments (MoM) (Nov)
2013-01-18 14:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Jan)Preliminar

Forex News
2013-01-18 04:59 GMT | USD/JPY correction lower may not be complete – Commerzbank
2013-01-18 03:43 GMT | Euro bulls ready to rock
2013-01-18 03:37 GMT | USD/CHF surrenders gains and trading at 0.9310/13
2013-01-18 01:16 GMT | EUR/JPY rallies through 119.00 after Spain and Van Rompuy

TECHNICAL ANALYSIS

EURUSD :
HIGH 1.33913 LOW 1.33614 BID 1.33818 ASK 1.33824 CHANGE 0.03% TIME 07 : 56:11

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: A positive market tone dominates on the hourly chart frame and further buying interest might arise above the key resistance at 1.3394 (R1). A break through here would suggest next target at 1.3420 (R2) and if the price holds its momentum we can expect an exposure of 1.3446 (R3). Downwards scenario: Fresh low formed today limits recovery attempts for now. Next support level stays right below it at 1.3358 (S1). Break here would suggest next target at 1.3329 (S2) and any further fall would then be limited by last support at 1.3302 (S3).

Resistance Levels: 1.3394, 1.3420, 1.3446
Support Levels: 1.3358, 1.3329, 1.3302

GBPUSD :
HIGH 1.6006 LOW 1.59636 BID 1.59857 ASK 1.59867 CHANGE -0.05% TIME 07 : 56:12

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

Upwards scenario: The short- term tendency is bearish as both moving averages are pointing up however risk of market strengthening is seen above the resistance level at 1.5989 (R1). Clearance here would open way for towards to next targets at 1.6005 (R2) and 1.6021 (R3). Downwards scenario: Fresh low, formed today is pointing to key short-term support level at 1.5963 (S1). Decline below it would suggest next intraday target at 1.5949 (S2) and any further easing would then be targeting 1.5933 (S3).

Resistance Levels: 1.5989, 1.6005, 1.6021
Support Levels: 1.5963, 1.5949, 1.5933

USDJPY :
HIGH 90.205 LOW 89.634 BID 90.049 ASK 90.055 CHANGE 0.21% TIME 07 : 56:13

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

Upwards scenario: The next hurdle on the upside lies at 90.21 (R1), any uptrend action above it would put in focus resistance barrier at 90.43 (R2) as the near-term target. Next on tap is final resistance at 90.64 (R3). Downwards scenario: Penetration below the 89.64 (S1) is liable to put more downward pressure on the instrument in the near-term perspective and start forming retracement formation. In such scenario our potential targets locates at 89.42 (S2) and 89.20 (S3).

Resistance Levels: 90.21, 90.43, 90.64
Support Levels: 89.64, 89.42, 89.20

Source: FX Central Clearing Ltd,( Forex ECN Brokers List | Auto Forex Trading Account | FXCC )[/B]

alayoua · January 21, 2013, 5:36am

[B]Forex Technical & Market Analysis FXCC Jan 21 2013

Merkel’s CDU loses Lower Saxony election; setback to her national campaign

Angela Merkel’s ruling centre-right coalition government suffered yet another defeat on this Sunday’s local elections, in what the Financial Times defines as a controversial election in the state of Lower Saxony, according to final forecasts of German television. After early speculation that the result would be a narrow win for Merkel’s Christian Democratic Union (CDU), the Social Democratic party (SDP) and its varies Green party ties managed to gather enough votes to reach a 1 seat majority.

Preliminary final results for Lower Saxony: CDU 36%, SPD 32,6%, FDP 9,9%, Grüne 13,7%, Linke 3,1%. SPD & Grüne coalition gets them a 1 seat majority. Other coalitions possible, yet bottom line is that CDU loses. FT: “A victory for the SPD and Greens could give a boost to their national campaign to replace Ms Merkel’s government in September. But the chancellor’s personal popularity has given the CDU a 17-point lead over the SPD in recent opinion polls.”
Forex Technical & Market Analysis: January 21 2013

Forex Economic Calendar
N/A | E.M.U. Eurogrup meeting
2013-01-21 07:00 GMT | Germany. Producer Price Index (YoY) (Dec)
2013-01-21 08:15 GMT | Switzerland. Industrial Production (YoY) (Q3)
2013-01-21 13:30 GMT | Canada. Wholesale Sales (MoM) (Nov)

Forex News
2013-01-21 06:38 GMT | EUR/USD steady in Asia
2013-01-21 05:54 GMT | EUR/GBP off 5-month highs; stalls below 0.8400
2013-01-21 05:24 GMT | FED to continue QE purchases thru 2014 – RBS
2013-01-21 04:02 GMT | GBP/AUD off fresh 5-month lows at 1.5060

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.33301 | LOW: 1.3302 | BID: 1.33226 | ASK: 1.33235 | CHANGE: 0.07% | TIME: 08 : 30:48

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: EURUSD established next resistance at 1.3334 (R1), above which is seen possibility of uptrend formation in near –term perspective. Our bullish targets appears at 1.3356 (R2) and 1.3378 (R3). Downwards scenario: The downside remains favored direction for today. The 1.3302 (S1) would be the key support level. Decline below it might take the pair towards to eventual targets, located at 1.3282 (S2) and 1.3262 (S3).

Resistance Levels: 1.3334, 1.3356, 1.3378
Support Levels: 1.3302, 1.3282, 1.3262

GBPUSD

HIGH: 1.58733 | LOW: 1.58446 | BID: 1.58718 | ASK: 1.58727 | CHANGE: -0.01% |TIME: 08 : 30:50

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

Upwards scenario: Instrument lost downside momentum an currently moves in correction mode. Market appreciation is possible above the resistance at 1.5884 (R1). Any upside corrections above this point will then be targeting next resistances at 1.5908 (R2) and 1.5931 (R3). Downwards scenario: Short-term bears expected to be in play below the next support level at 1.5846 (S1). Clearance of this level I required to open way towards to next targets at 1.5825 (S2) and 1.5805 (S3).

Resistance Levels: 1.5884, 1.5908, 1.5931
Support Levels: 1.5846, 1.5525, 1.5805

USDJPY

HIGH: 90.245 | LOW: 89.425 | BID: 89.591 | ASK: 89.596 | CHANGE: -0.53% | TIME: 08 : 30:55

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

Upwards scenario: Currently price deviates from its high after the clear uptrend formation on the hourly chart. Buyers have their next challenge at 89.76 (R1). Break through here would suggest next initial targets at 89.98 (R2) and 90.18 (R3).Downwards scenario: Our next support level is placed at 89.42 (S1), that buyers will try to defend. Any extension lower is being able to drive market price towards to our intraday targets at 89.24 (S2) and 89.05 (S3).

Resistance Levels: 89.76, 89.98, 90.18
Support Levels: 89.42, 89.24, 89.05

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )[/B]

alayoua · January 22, 2013, 2:38am

[B]Forex Technical & Market Analysis FXCC Jan 22 2013

Jeroen Dijsselbloem, appointed new head of the Eurogroup

Jeroen Dijsselbloem, Dutch Finance Minister, has been confirmed as the new president of the Eurogroup. As a peculiar note, German finance minister Mr. Schauble said Spain did not support the appointment of Dijsselbloem for head of the Eurogroup. The Eurogroup press conference started with the outgoing Eurogroup president Jean-Claude Juncker, saying that the EU agreed with the IMF that fiscal consolidation should be continued in differentiated manner.

With regards to Cyprus, Juncker noted that the Eurozone finance ministers had delayed a €17bn bailout until March this year, amid concerns of the sizeable rescue package. Juncker had a special mention for Spain too, expressing please that the banking program remains on track. While for Ireland, Juncker said that “Ireland is a living example that adjustment programs work” Meanwhile, after reports that Greece may need an additional €9.2 Bln, the bloc’s finance ministers reportedly support the disbursement in further support for Greece. Eurogroup ‘noted with satisfaction’ the progress on the Greek rescue program. When the floor was given to Oliver Rehn, European Union Economic and Monetary Affairs Commissioner, he said the eurogroup has taken stock of progress on direct bank recapitalisation. He cited some ‘complex technical issues’ remain on direct recaps.
https://support.fxcc.com/email/technical/22012013/

Forex Economic Calendar
N/A | Japan. BoJ Monetary Policy Statement and press conference
N/A | E.M.U EcoFin Meeting
2013-01-22 15:00 | GMT United States. Existing Home Sales Change (MoM) (Dec)
2013-01-22 18:00 | GMT E.M.U. ECB President Draghi’s Speech

Forex News
2013-01-22 05:25 GMT | EUR/USD has a daily range to resolve
2013-01-22 05:15 GMT | GBP/USD bounces at Fibo 1.5820, stalls below 1.5860
2013-01-22 04:41 GMT | USD/JPY buyers faked out; 88.90 lowest after 90.00 kiss
2013-01-22 03:21 GMT | AUD/USD launched higher; cracks 1.0520/30 resistance

EURUSD :
HIGH 1.3358 LOW 1.33005 BID 1.33459 ASK 1.33466 CHANGE 0.26% TIME 07 : 56:12

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We expect that instrument remain largely static in the near term perspective however resistive structure holds above the fresh high at 1.3358 (R1). Break here would suggest 1.3378 (R2) and 1.3399 (R3) as next possible targets. Downwards scenario: We would change our outlook to the negative if the price manage to depreciate below the support at 1.3323 (S1). Loss here might trigger correction formation towards to next targets at 1.3302 (S2) and 1.3282 (S3)

Resistance Levels: 1.3358, 1.3378, 1.3399
Support Levels: 1.3323, 1.3302, 1.3282

GBPUSD :
HIGH 1.5861 LOW 1.58256 BID 1.58594 ASK 1.58603 CHANGE 0.19% TIME 07 : 56:13

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

Upwards scenario: Instrument looks oversold on the hourly chart and retracement formation looks reasonable above the next resistive barrier at 1.5864 (R1). Our higher retracement targets locates at 1.5884 (R2) and then 1.5904 (R3). Downwards scenario: We expect to see further negative bias formation today if the pair manages to overcome our support level at 1.5839 (S1). Our downside targets lies at 1.5819 (S2) and 1.5798 (S3) in potential.

Resistance Levels: 1.5864, 1.5884, 1.5904
Support Levels: 1.5839, 1.5819, 1.5798

USDJPY :
HIGH 90.112 LOW 88.89 BID 89.149 ASK 89.156 CHANGE -0.55% TIME 07 : 56:14

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

Upwards scenario: Instrument stabilized after the local low, provided today. Consolidation development might keep bulls in play for eventual targets at 89.49 (R2) and 89.66 (R3) if the market mange to push through key resistive barrier at 89.33 (R1). Downwards scenario: Further market decline may encounter supportive measure at 88.88 (S1). Penetration through this level would risk an extension lower targeting our next support levels at 88.71 (S2) and 88.55 (S3) later on today.

Resistance Levels: 89.33, 89.49, 89.66
Support Levels: 88.88, 88.71, 88.55

Source: FX Central Clearing Ltd,( Free Forex Demo Accounts | Top ECN Forex Broker | Forex Blog | FXCC )[/B]

alayoua · January 23, 2013, 6:24am

[B]Forex Technical & Market Analysis FXCC Jan 23 2013

Eurogroup approves Robin Hood tax

Eleven Eurozone countries (Germany, Italy, France, Spain, Austria, Portugal, Belgium, Estonia, Greece, Slovakia and Slovenia) have been authorized to start working on a financial transactions tax (the so-called Robin Hood tax). Eurozone finance ministers have given the green light to the measure today, during the Eurogroup meeting held in Brussels. The tax is based on an idea put forward by the economist James Tobin over forty years ago and its current application is aimed at controlling banks and speculative activities, such as high frequency operations, as each agreement will be taxed.

The Spanish Tesoro Público held a debt auction on Tuesday during which it sold 2.9 billion euros worth of 3- and 6- month bonds. 1.206 billion euros of 3-month bonds were auctioned at an average yield of 0.441%, compared with 1.195% seen at the previous auction. 1.578 billion euros worth of 6-month bonds, were sold at an average yield of 0.888% versus the previous 1.609%. Following the auction Spanish risk premium remained at the level of 355 points.
Forex Technical & Market Analysis: January 23 2013

Forex Economic Calendar
2013-01-23 09:30 GMT | United Kingdom. Bank of England Minutes
2013-01-23 14:00 GMT | United States. Housing Price Index (MoM) (Dec)
2013-01-23 15:00 GMT| Canada. BoC Interest Rate Decision (Jan 23)
2013-01-23 16:15 GMT | Canada. BoC Press Conference

Forex News
2013-01-23 05:45 GMT | Traders defend EUR/USD range tooth and nail
2013-01-23 05:44 GMT | USD/JPY moves below mid term ascending trend line, still above 88.00
2013-01-23 05:17 GMT | GBP/USD holds above 1.5800 ahead of a busy day for the pair
2013-01-23 04:36 GMT | GBP/JPY in the brink of post-BoJ lows

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.33295 | LOW: 1.33046 | BID: 1.33140 | ASK: 1.33147 | CHANGE: -0.05% | TIME: 08 : 02:05

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: We place our next resistance level at 1.3321 (R1). One should note here that in case of penetration above it opens the way for a return to 1.3331 (R2) and potential is seen to reach final target for today at 1.3340 (R3). Downwards scenario: The downside formation might face next supportive barrier at 1.3302 (S1). Clearance here is required to open way towards to our next target at 1.3292 (S2) and any further fall would then be targeting 1.3282 (R3).

Resistance Levels: 1.3321, 1.3331, 1.3340
Support Levels: 1.3302, 1.3292, 1.3282

GBPUSD
HIGH: 1.5844 | LOW: 1.58236 | BID: 1.58350 | ASK: 1.58359 | CHANGE: -0.02% | TIME: 08 : 02:06

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

Upwards scenario: Our medium-term outlook is negative for the GBPUSD though possibility of price deviation is seen above the next resistance at 1.5849 (R1). Retracement targets could be found at 1.5874 (R2) and 1.5897 (R3). Downwards scenario: In near term we expect the extension of the downside move over intraday basis today. Risk of price depreciation holds below the next support level at 1.5817 (S1). Loss here might expose next targets at 1.5794 (S2) and 1.5771 (S3).

Resistance Levels: 1.5849, 1.5874, 1.5897
Support Levels: 1.5817, 1.5794, 1.5771

USDJPY
HIGH: 88.791 | LOW: 88.254 | BID: 88.325 | ASK: 88.332 | CHANGE: -0.43% | TIME: 08 : 02:07

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

Upwards scenario: Next immediate resistive barrier is seen at 88.69 (R1). If instrument gains momentum on the upside and manage to overcome it we expect to see retest of our intraday targets at 88.84 (R2) and 88.99 (R3) on the intraday basis. Downwards scenario: The USDJPY is poised to move lower on the medium-term perspective. Next barrier ahead is seen at 88.14 (S1).A break below this mark would suggest next intraday targets at 87.97 (R2) and 87.83 (R3) in potential.

Resistance Levels: 88.69, 88.84, 88.99
Support Levels: 88.14, 87.97, 87.83

Source: FX Central Clearing Ltd,( ECN Broker | Forex Practice Account | Forex Trading Blog | FXCC )[/B]

alayoua · January 24, 2013, 5:43am

[B]Forex Technical & Market Analysis FXCC Jan 24 2013

MARKET OVERVIEW

2013-01-24 05:50 GMT

BoE Minutes: MPC voted unanimously to keep the interest rate at 0.5%

BoE Minutes from the MPC monetary policy meeting held on 9 and 10 January and released yesterdday reveal that the Committee voted unanimously in favor of keeping the interest rate at 0.5%. As far as the proposition to maintain the stock of asset purchases at £375 billion is concerned, eight MPC members voted in favor while one voted against. David Miles who voted against preferred to boost the QE program by a further £25 billion to a total of £400 billion.

According to the minutes, the MPC “judged that it was not necessary at this meeting to change either Bank Rate or the size of the asset purchase programme in order to meet the inflation target in the medium term,” as the economic developments throughout December had been “modestly positive”. David Miles argued however that “an easing of monetary policy, in part by discouraging any further appreciation of sterling, could help the rebalancing process and avoid potentially lasting destruction of productive capacity and increases in unemployment.”
Forex Technical & Market Analysis: January 24 2013

Forex Economic Calendar
2013-01-24 08:58 GMT | E.M.U. Markit Manufacturing PMI (Jan)
2013-01-24 09:30 GMT | United Kingdom. BBA Mortgage Approvals (Dec)
2013-01-24 13:58 GMT | United States. Markit Manufacturing PMI (Jan)
2013-01-24 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes

Forex News
2013-01-24 04:56 GMT | AUD/NZD threatens 1-month low above 1.2450
2013-01-24 04:32 GMT | EUR/JPY above 118.50 on broad Yen weakness
2013-01-24 04:03 GMT | USD/JPY reaches 89.30; 120+pips since London low
2013-01-24 00:53 GMT | EUR/USD resting above 1.3300
AUDUSD NZDUSD USDCHF USDCAD GBPJPY EURCHF GOLD SILVER

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.33246 | LOW: 1.32972 | BID: 1.33166 | ASK: 1.33175 | CHANGE: -0.01% | TIME: 07 : 49:26

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Market sentiment looks neutral and upside movement is limited to resistance level at 1.3325 (R1). Surpassing of this level might enable next target at 1.3333 (R2) and any further gain would then be limited to last resistance at 1.3342 (R3). Downwards scenario: Bearish market sentiment could be created if the price manages to overcome our next support level at 1.3294 (S1). A violation here might call for a run towards to lower targets at 1.3289 (S2) and 1.3280 (S3).

Resistance Levels: 1.3325, 1.3333, 1.3342
Support Levels: 1.3294, 1.3289, 1.3280

GBPUSD

HIGH: 1.58439 | LOW: 1.58124 | BID: 1.58324 | ASK: 1.58334 | CHANGE: -0.08% | TIME: 07 : 49:27

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

Upwards scenario: Sideways formation remains in power on the hourly timeframe. GBPUSD might find buyers above the important resistance level at 1.5849 (R1). Break here would open route towards to our next resistances at 1.5872 (R2) and 1.5894 (R3) on the intraday basis. Downwards scenario: If market failed to establish positive bias, we expect retest of our key support level at 1.5813 (S1). Break here is required to enable initial targets at 1.5791 (S2) and final one at 1.5768 (S3).

Resistance Levels: 1.5849, 1.5872, 1.5894
Support Levels: 1.5813, 1.5791, 1.5768

USDJPY

HIGH: 89.453 | LOW: 88.414 | BID: 89.323 | ASK: 89.328 | CHANGE: 0.8% | TIME: 07 : 49:28

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

Upwards scenario: Immediate resistance at 89.47 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to our targets at 89.67 (R2) and 89.86 (R3) in case of sufficient momentum. Downwards scenario: Our focus now shifted to the next support level at 89.10 (S1). Extension of losses below it might push price towards to our targets at 88.89 (S2) and 88.69 (S3) by forming retracement formation from its initial upside penetration.

Resistance Levels: 89.47, 89.67, 89.86
Support Levels: 89.10, 88.89, 88.69

Source: FX Central Clearing Ltd,( ECN Forex Software | The Best Forex Broker | Forex Account | FXCC )[/B]