Daily Forex Market by FXCC

alayoua · July 5, 2013, 5:58am

[B]Forex Technical & Market Analysis FXCC Jul 05 2013

EUR and GBP Crushed by ECB and BoE

Big moves are happening in the FX market yesterday. The euro and British pound dropped to 5 week lows against the U.S. dollar, taking out key levels in the process. The absence of U.S. traders most likely compounded the volatility in currencies. The European Central Bank and the Bank of England left monetary policy unchanged but Mario Draghi and Mark Carney made it clear that both central banks have a bias to ease. The dovish comments from European central bankers were motivated by the recent volatility in interest rates and a desire to set themselves apart from the Federal Reserve who is on a path to reduce stimulus. The ECB and the BoE wants everyone to know that they are still prepared to increase stimulus if the volatility in the bond markets persist or their economies weaken. In the Eurozone in particular, the EUR/USD dropped through 1.30 and 1.29. The currency started to fall as soon as Draghi said that policy will remains accommodative as long as needed, there are downside risks to their economic outlook and rates will stay low for an extended period of time. The sell-off gained momentum when the central bank took the unprecedented step of forward guidance. The ECB said there is no exit in sight, they are keeping rates low for an extended period of time, their decision will be data dependent and they are keeping an open mind on negative deposit rates. Draghi also reminded everyone that the central bank is “technically ready” for negative rates. They had an extensive discussion about the possibility of a rate cut and unanimously decided that the guidance was needed which included saying that 50bp is not the lower bound. The central bank is screaming their bias to ease from the top of the mountain - they don’t want to leave any room for ambiguity because the risk could be a further rise in yields. Having dropped below 1.29, the next support for the EUR/USD should be at 1.28.
https://support.fxcc.com/email/technical/05072013/

FOREX ECONOMIC CALENDAR :
2013-07-05 10:00 GMT | Germany. Factory Orders n.s.a. (YoY)
2013-07-05 12:30 GMT | Canada. Unemployment Rate
2013-07-05 12:30 GMT | USA. Nonfarm Payrolls
2013-07-05 12:30 GMT | USA. Unemployment Rate

FOREX NEWS :
2013-07-05 04:51 GMT | EUR/GBP limited below 0.8580 asks
2013-07-05 04:46 GMT | NFP amid low liquidity; drastic moves ahead?
2013-07-05 04:22 GMT | GBP/USD hovering around 1.5050
2013-07-05 03:39 GMT | AUD/USD extends decline below 0.9130

EURUSD
HIGH 1.29166 LOW 1.28878 BID 1.28983 ASK 1.28988 CHANGE -0.12% TIME 08 : 24:40

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: The possibility of an upside price progress is seen above the resistance level at 1.2931 (R1). Evaluation above this mark might initiate bullish pressure and expose medium-term interim targets at 1.2952 (R2) and 1.2974 (R3). Downwards scenario: We placed our support level right above the yesterday low at 1.2881 (S1). Clearance here is required to open way towards to our interim target at 1.2862 (S2) and then final aim locates at 1.2842 (S3).

Resistance Levels: 1.2931, 1.2952, 1.2974
Support Levels: 1.2881, 1.2862, 1.2842

GBPUSD :
HIGH 1.50777 LOW 1.50268 BID 1.50465 ASK 1.50478 CHANGE -0.16% TIME 08 : 24:41

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

Upwards scenario: Nonfarm Payrolls announcement might change overall technical structure. We see potential to overcome our next resistive barrier at 1.5090 (R1). Any prolonged movement above it would suggest next intraday targets at 1.5120 (R2) and 1.5151 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 1.5024 (S1). A fall below it might prolong medium-term weakness towards to next support at 1.4992 (S2) and any further market decline would then be targeting final support at 1.4959 (S3).

Resistance Levels: 1.5090, 1.5120, 1.5151
Support Levels: 1.5024, 1.4992, 1.4959

USDJPY :
HIGH 100.458 LOW 99.999 BID 100.257 ASK 100.261 CHANGE 0.22% TIME 08 : 24:42

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

Upwards scenario: Neutral tone dominates on the hourly chart frame. Local high offers an important resistive structure at 100.45 (R1). Any penetration above that level would suggest next targets at 100.68 (R2) and 100.90 (R3). Downwards scenario: Possible downside expansion is limited to the next support level at 100.15 (S1). Break here is required to open way towards to initial targets at 99.92 (S2) and 99.70 (S3).

Resistance Levels: 100.45, 100.68, 100.90
Support Levels: 100.15, 99.92, 99.70

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

alayoua · July 8, 2013, 5:20am

[B]ECB members had heated clash over last rate decision

ECB Governing Council members had a confrontational approach over interest rates at their latest board meeting on Thursday, according to German weekly Der Spiegel, citing no sources, the MNI newswire reports. Der Spiegel claims to have obtained insights over the dovish views from ECB chief economist Peter Praet, who proposed to cut the benchmark interest rate by 25 bp in the last meeting, an action that ECB President Mario Draghi would have supported.

However, as MNI reports, “seven board members, mainly from northern European member states, were arguing sharply against a rate cut last week, the magazine reported.” Der Spiegel reports German Bundesbank President Jens Weidmann, Dutch central bank governor Klaas Knot as well as ECB Executive Board member Joerg Asmussen, as the most notoriously opposed to it. As is well known, the final decision taken by the board was to unanimously keep the benchmark rate unchanged at 0.5% while providing forward guidance on low rates. Draghi’s said that “broad-based weakness in the real economy and subdued monetary dynamics” will keep rates at present or lower levels for an extended period of time.
https://support.fxcc.com/email/technical/08072013/

FOREX ECONOMIC CALENDAR :
24h | All. Eurogroup Meeting
2013-07-08 13:30 GMT | EMU. ECB President Draghi’s Speech
2013-07-08 14:30 GMT | Canada. Bank of Canada Business Outlook Survey (Q2)
2013-07-08 19:00 GMT | USA. Consumer Credit Change

FOREX NEWS :
2013-07-08 04:59 GMT | Calls to buy USD all over; time to be sellers?
2013-07-08 04:26 GMT | GBP/USD strongly capped below 1.4900
2013-07-08 03:40 GMT | Buy AUD/NZD targeting 1.2130/70 - Societe Generale
2013-07-08 03:38 GMT | AUD/CAD depressed below 0.96 round

EURUSD :
HIGH 1.28319 LOW 1.28106 BID 1.28169 ASK 1.28173 CHANGE -0.11% TIME 08 : 30:00

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 1.2852 (R1) would suggest next targets at 1.2879 (R2) and 1.2905 (R3). Downwards scenario: Friday low offers a key support barrier at 1.2805 (S1). Only clear break here would be a signal of possible market easing towards to next targets at 1.2781 (S2) and 1.2757 (S3) in potential.

Resistance Levels: 1.2852, 1.2879, 1.2905
Support Levels: 1.2805, 1.2781, 1.2757

GBPUSD :
HIGH 1.48824 LOW 1.48582 BID 1.48765 ASK 1.48774 CHANGE -0.02% TIME 08 : 30:01

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

Upwards scenario: Upside risk aversion is seen above the next resistance level at 1.4923 (R1). Appreciation above it might lead would enable corrective phase, targeting resistive measures at 1.4962 (R2) and 1.4999 (R3) in potential. Downwards scenario: On the other hand, if the pair accelerates on the downside and manage to break our next support level at 1.4853 (S1), it is likely to trigger our next support level at 1.4818 (S2) and 1.4782 (S3) later on today.

Resistance Levels: 1.4923, 1.4962, 1.4999
Support Levels: 1.4853, 1.4818, 1.4782

USDJPY :
HIGH 101.531 LOW 101.06 BID 101.095 ASK 101.100 CHANGE -0.08% TIME 08:30:02

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

Upwards scenario: Uptrend evolvement remains in power. Further appreciation above the resistive barrier at 101.53 (R1) is liable to next intraday targets at 101.81 (R2) and 102.09 (R3). Downwards scenario: Possible retracement action might get more stimulus below the support level at 100.87 (S1). Loss here would suggest next intraday target at 100.58 (S2) and any weakening below it would then face final support at 100.28 (S3).

Resistance Levels: 101.53, 101.81, 102.09
Support Levels: 100.87, 100.58, 100.28

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

alayoua · July 9, 2013, 6:49am

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

Troika approves next disbursment to Greece

Troika officials struck a deal with Greece this Monday, allowing the debt-laden country to receive its next tranche of funds, totalling The money, totaling 6.8bn euros ($8.7bn). The troika of the European Commission, the European Central Bank and the International Monetary Fund (IMF) will be responsible to make the funds available end of the month. Eurozone finance ministers indicated earlier today that 2.5bn euros would come from the eurozone rescue fund and 1.5bn euros, while the European Central Bank will contribute with another 1.5bn euros. It is thought that an additional 500m euros from both the EZ rescue fund and the ECB will be transferred in October. The IMF will add the remaining 1.8bn euros.

The loans are subject to Greece showing a committal approach towards the country’s fiscal path, with the Troika demanding further cuts and a faster implementation of its reform programme, one that has brought the country to its knees. Despite so, the Troika continues to underline the slow progress seen so far, as the country continues to struggle through an era of depression.
https://support.fxcc.com/email/technical/09072013/

FOREX ECONOMIC CALENDAR :
24h | EcoFin Meeting
2013-07-09 08:30 GMT | UK. Manufacturing Production (YoY)
2013-07-09 12:15 GMT | Canada. Housing Starts s.a (YoY)
2013-07-09 14:00 GMT | UK. NIESR GDP Estimate (3M)

FOREX NEWS :
2013-07-09 04:52 GMT | GBP/USD stalls the recovery below 1.4950
2013-07-09 04:50 GMT | EUR/USD aiming at 2nd daily gain
2013-07-09 03:09 GMT | NZD/USD back around 0.78 post-China CPI
2013-07-09 03:02 GMT | AUD/JPY setting stage for a 92.50 breakout?

EURUSD :
HIGH 1.28711 LOW 1.2846 BID 1.28677 ASK 1.28683 CHANGE -0.01% TIME 08 : 33:00

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 1.2892 (R1), break here would suggest next intraday targets at 1.2909 (R2) and 1.2926 (R3). Downwards scenario: Failure to establish positive bias today would shift our focus to the next support level at 1.2844 (S1). Clearance here would open way towards to our initial targets at 1.2826 (S2) and 1.2806 (S3).

Resistance Levels: 1.2892, 1.2909, 1.2926
Support Levels: 1.2844, 1.2826, 1.2806

GBPUSD :
HIGH 1.4953 LOW 1.49199 BID 1.49434 ASK 1.49442 CHANGE -0.05% TIME 08 : 33:01

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

Upwards scenario: Yesterday high offers a key resistive measure at 1.4968 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.4999 (R2) and 1.5029 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.4918 (S1). Below here we see potential for the price acceleration towards to next targets at 1.4884 (S2) and 1.4851 (S3).

Resistance Levels: 1.4968, 1.4999, 1.5029
Support Levels: 1.4918, 1.4884, 1.4851

USDJPY :
HIGH 101.243 LOW 100.768 BID 101.147 ASK 101.151 CHANGE 0.19% TIME 08 : 33:02

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

Upwards scenario: Measures of resistance might be activating if the pair approaches 101.41 (R1) price level. Break here would suggest next interim target at 101.70 (R2) and If the price keeps its momentum we expect an exposure of 101.97 (R3). Downwards scenario: On the other hand, break below the support at 100.76 (S1) is required to enable further market decline. Our next supportive measures locates at 100.49 (S2) and 100.21 (S3).

Resistance Levels: 101.41, 101.70, 101.97
Support Levels: 100.76, 100.49, 100.21

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

alayoua · July 12, 2013, 5:40am

[B]Forex Technical & Market Analysis FXCC Jul 12 2013

ECB Monthly Report: Interest rates could be reduced further

The ECB signalized in its July Monthly Report that interest rates could be reduced further, should the price stability outlook warrant it. The recently introduced forward guidance was also included: “The Governing Council expects the key ECB interest rates to remain at present or lower levels for an extended period of time.” There was also some clarification of its time horizon: “The extended period of time over which the Governing Council currently expects the key ECB interest rates to remain at present or lower levels is a flexible horizon which does not pre-specify an end-date but is conditional on the Governing Council’s assessment of the economic fundamentals that determine underlying inflation."

Furthermore, the Council pointed to recent improvements in Eurozone sentiment indicators which suggest a gradual recovery of the economy later this year and in 2014. To support it, the ECB is prepared to maintain the accomodative monetary policy for as long as necessary. The accomodative policy should prop up domestic demand while the recovery in global demand should boost export growth in the area. Additionally, the Governing Council suggested that “the overall improvements in financial markets seen since last summer should work their way through to the real economy, as should the progress made in fiscal consolidation.”
https://support.fxcc.com/email/technical/12072013/

FOREX ECONOMIC CALENDAR :
2013-07-12 09:00 GMT | EMU. Industrial Production w.d.a. (YoY)
2013-07-12 12:30 GMT | USA. Producer Price Index (YoY)
2013-07-12 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment
2013-07-12 17:00 GMT | USA. Fed’s Bullard speech

FOREX NEWS :
2013-07-12 04:44 GMT | GBP/USD eases below 1.5200
2013-07-12 03:27 GMT | Gold below $1290, Oil above $104
2013-07-12 02:41 GMT | AUD/USD defending 0.9130 support
2013-07-12 01:42 GMT | USD/JPY breaks through stops at 99.10

EURUSD :
HIGH 1.31002 LOW 1.30728 BID 1.30752 ASK 1.30756 CHANGE -0.16% TIME 08 : 26:43

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Fractals level at 1.3124 (R1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 1.3167 (R2). Final support for today locates at 1.3208 (R3). Downwards scenario: As long as price stays above the moving averages our medium-term outlook would be positive. Though extension lower the 1.3028 (S1) is being able to drive market price towards to initial supports at 1.2988 (S2) and 1.2945 (S3).

Resistance Levels: 1.3124, 1.3167, 1.3208
Support Levels: 1.3028, 1.2988, 1.2945

GBPUSD :
HIGH 1.5189 LOW 1.51666 BID 1.51702 ASK 1.51710 CHANGE -0.09% TIME 08 : 26:44

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

Upwards scenario: We are not expecting significant volatility increase today however appreciation above the resistive structure at 1.5222 (R1) might trigger bullish pressure and drive market price towards to next targets at 1.5250 (R2) and 1.5278 (R3). Downwards scenario: Next supportive mark locates at 1.5145 (S1). Depreciation below it might shift short-term tendency to the bearish side and validate our next targets at 1.5117 (S2) and 1.5088 (S3).

Resistance Levels: 1.5222, 1.5250, 1.5278
Support Levels: 1.5145, 1.5117, 1.5088

USDJPY :
HIGH 99.321 LOW 98.675 BID 99.048 ASK 99.048 CHANGE 0.11% TIME 08 : 26:45

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

Upwards scenario: USDJPY trapped to the consolidation phase after the initial downtrend formation. Break of resistive level at 99.36 (R1) is required to enable recovery action. Our intraday targets are placed at 99.68 (R2) and 99.98 (R3). Downwards scenario: Though medium-term perspective remains negative for US Dollar. Next on tap is seen support level at 98.67 (S1), clearance here is required to enable lower targets at 98.36 (S2) and 98.06 (S3)

Resistance Levels: 99.36, 99.68, 99.98
Support Levels: 98.67, 98.36, 98.06

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

alayoua · July 15, 2013, 5:49am

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

Fitch downgrades France to AA+ from AAA

Fitch Ratings has downgraded France to AA+ from AAA on Friday, keeping a stable outlook on the country’s debt. Fitch, which joins S&P and Moody’s in removing the country’s AAA rating, cited the high level of the French government indebtedness as one of the main reasons of the downgrade. Fitch expects France’s general government debt to peak at 96% of GDP in 2014 and decline only gradually over the long term, remaining at 92% in 2017. “The only ‘AAA’ country with a higher debt ratio is the U.S. (AAA/negative), which has exceptional financing flexibility and debt tolerance afforded by the preeminent global reserve currency status of the U.S. dollar,” Fitch said in a statement.

Standard & Poor’s has affirmed on Friday Germany’s top triple-A sovereign credit rating, with a stable outlook. The rating agency justified its decision saying that “Germany has a highly diversified and competitive economy with a demonstrated ability to absorb large economic and financial shocks.” As far as the outlook on the long-term rating is concerned, S&P’s decision to keep it ‘stable’ reflects their view that: “Germany’s public finances and strong external balance sheet will continue to withstand potential financial and economic shocks.”
https://support.fxcc.com/email/technical/15072013/

FOREX ECONOMIC CALENDAR :
2013-07-15 07:15 GMT | Switzerland. Producer and Import Prices (YoY)
2013-07-15 12:00 GMT | USA. Fed’s Tarullo speech
2013-07-15 12:30 GMT | USA. Retail Sales (MoM)
2013-07-15 22:45 GMT | New Zeland. Consumer Price Index (YoY)

FOREX NEWS :
2013-07-15 04:56 GMT | GBP/USD treading water above 1.5100
2013-07-15 03:49 GMT | AUD/USD exposed to 0.80/0.85 fall - RBS
2013-07-15 03:35 GMT | EUR/USD, 1.2930-80 key to technical outlook - BBH
2013-07-15 02:39 GMT | USD/JPY flat above 99.00 with Tokyo closed

EURUSD :
HIGH 1.3079 LOW 1.30513 BID 1.30773 ASK 1.30773 CHANGE 0.08% TIME 08:00:33

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: With limited economic data flow today we expect further neutral tone development. However, price strengthening is possible above the next resistance level at 1.3092 (R1). Our interim target holds at 1.3124 (R2) en route to our final aim for today at 1.3157 (R3). Downwards scenario: Current price pattern suggests bearish potential if the pair manages to overcome next support level at 1.3044 (S1). Possible price regress could expose our initial targets at 1.3008 (S2) and 1.2974 (S3) later on today.

Resistance Levels: 1.3092, 1.3124, 1.3157
Support Levels: 1.3044, 1.3008, 1.2974

GBPUSD :
HIGH 1.51287 LOW 1.5098 BID 1.51257 ASK 1.51268 CHANGE 0.13% TIME 08:00:33

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

Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5141 (R1). Break here is required to prolong upside pressure and trigger our intraday targets at 1.5173(R2) and 1.5203 (R3) later on today. Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.5088 (S1). Penetration below this mark would suggest next targets at 1.5059 (S2) and 1.5028 (S3).

Resistance Levels: 1.5141, 1.5173, 1.5203
Support Levels: 1.5088, 1.5059, 1.5028

USDJPY :
HIGH 99.383 LOW 99.074 BID 99.271 ASK 99.272 CHANGE 0.06% TIME 08:00:34

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

Upwards scenario: On the upside potential is seen for a break above the resistance at 99.46 (R1). In such case we would suggest next target at 99.68 (R2) and any further rise would then be limited to final resistance at 99.90 (R3). Downwards scenario: On the other hand, loss of our support level at 99.03 (S1) would open road for a market decline towards to our next target at 98.83 (S2). Any further price weakening would then be limited to final support for today at 98.61 (S3).

Resistance Levels: 99.46, 99.68, 99.90
Support Levels: 99.03, 98.83, 98.61

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

alayoua · July 16, 2013, 6:52am

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

Dovish ECB, soft US retail sales balance each other out. Waiting on Bernanke – again!

Dovish talk from the ECB undermined the Euro before the softer than expected US Retail Sales turned things around, sending the US dollar slightly lower. Markets are likely to be on hold ahead of Bernanke’s testimony to Congress although equities and commodities both looks solid in the short term. A mix of data out of the EU and the US could make it a bit choppy later in the day. Before then, the RBA Minutes will be Asia’s focus.

The Euro has had a choppy but mostly uninteresting session, hanging close to 1.3000 as the northern hemisphere summer doldrums look to be well upon us. Early dovish comments from the ECB’s Hansson, indicating that there is room to cut rates further and that negative interest rates should not be ruled out helped push the Euro lower early in the session, before a bit of a turnaround following the softer than expected US retail Sales, that saw the dollar come under some pressure of its own. Fitch downgraded the EFSF – European Financial Stability Facility- to AA+ from AAA, which, following on from the recent France downgrade, had precisely no effect on the Euro at all.
https://support.fxcc.com/email/technical/16072013/

FOREX ECONOMIC CALENDAR :
N/A | UK. BOE Inflation Letter
2013-07-16 08:30 GMT | UK. Consumer Price Index (YoY)
2013-07-16 09:00 GMT | EMU. Consumer Price Index (YoY
2013-07-16 12:30 GMT | USA. Consumer Price Index (YoY)

FOREX NEWS :
2013-07-16 04:46 GMT | GBP/USD stable above 1.51 ahead of UK&US CPI’s
2013-07-16 04:25 GMT | EUR/USD pressing against 1.3080
2013-07-16 03:10 GMT | NZD/USD seen at 0.78 year end - BNZ
2013-07-16 02:07 GMT | AUD/USD targets 0.9188, dip buyers on the rise

EURUSD :
HIGH 1.30758 LOW 1.30527 BID 1.30716 ASK 1.30722 CHANGE 0.07% TIME 08 : 21:26

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Next barrier on the upside lie at 1.3092 (R1). Surpassing of this level might enable our initial target at 1.3132 (R2) and any further gains would then be limited to last resistive structure at 1.3171 (R3). Downwards scenario: On the other hand, clearance of our support at 1.3049 (S1) is required to determine negative intraday bias and enable lower target at 1.3010 (S2) and then any further market depreciation would suggest final support at 1.2969 (S3).

Resistance Levels: 1.3092, 1.3132, 1.3171
Support Levels: 1.3049, 1.3010, 1.2969

GBPUSD :
HIGH 1.51167 LOW 1.50909 BID 1.51066 ASK 1.51078 CHANGE 0.06% TIME 08 : 21:27

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

Upwards scenario: Neutral channel formation remains favored pattern on the hourly chart frame. Possible clearance of our next resistive barrier at 1.5132 (R1) would suggest next intraday targets at 1.5173 (R2) and 1.5216 (R3) in potential. Downwards scenario: Possible downside expansion is protected by support level at 1.5086 (S1), break here would put bullish oriented traders on hold. Marks at 1.5046 (S2) and 1.5004 (S3) acts as our initial targets today.

Resistance Levels: 1.5132, 1.5173, 1.5216
Support Levels: 1.5086, 1.5046, 1.5004

USDJPY :
HIGH 100.068 LOW 99.647 BID 99.805 ASK 99.807 CHANGE -0.03% TIME 08 : 21:27

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

Upwards scenario: USDJPY resumed its consolidation phase yesterday and we see potential for further appreciation towards to our targets at 100.33 (R2) and 100.60 (R3) if the price manages to overcome key resistance measure at 100.06 (R1). Downwards scenario: On the downside our attention is shifted to the immediate support level at 99.62 (S1). Break here is required to enable bearish forces and expose our intraday targets at 99.35 (S2) and 99.06 (S3).

Resistance Levels: 100.06, 100.33, 100.60
Support Levels: 99.62, 99.35, 99.06

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

alayoua · July 18, 2013, 5:51am

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

Fed’s Bernanke: Asset purchases not ‘on a preset course’

According to the prepared text of Chairman Ben Bernanke’s speech, to be delivered later today during his Semiannual Monetary Policy Report to the Congress, the pace of the Federal Reserve’s bond purchases is not ‘on a preset course’, as it depends on the current economic and financial situation. The Fed head assured that signs of recovery are visible in the US labor market, but that “the jobs situation is far from satisfactory, as the unemployment rate remains well above its longer-run normal level.” He also pointed out that inflation is still below the Fed’s 2% target. That is why “a highly accommodative monetary policy will remain appropriate for the foreseeable future.”

As far as QE is concerned, Bernanke stressed that the decision on when the tapering should begin depends on the Fed’s assessment of the US economic outlook. Should economic data improve earlier than forecasted and inflation rise towards the objective, a reduction could be carried out sooner. Otherwise, “the current pace of purchases could be maintained for longer.” According to Rob Carnell from ING: ”This speech neither contradicts nor supports the notion that the taper begins in September. The taper might begin then. But as we have written elsewhere, there are quite good reasons why it may occur somewhat later. Not that it really matters all that much anyway – given that the Fed funds decision is one that will be taken independently from QE.”
https://support.fxcc.com/email/technical/18072013/

FOREX ECONOMIC CALENDAR :
2013-07-18 08:30 GMT | UK Retail Sales (YoY)
2013-07-18 12:30 GMT | US Initial Jobless Claims
2013-07-18 14:00 GMT | US Fed’s Bernanke Speech
2013-07-18 23:50 GMT | Japan. Foreign bond investment

FOREX NEWS :
2013-07-18 04:52 GMT | GBP/USD breaks below 1.52 ahead of UK retail sales
2013-07-18 04:31 GMT | USD/JPY above 100 again ahead of Sunday’s elections
2013-07-18 04:20 GMT | EUR/USD breaks 1.32, needs to clear 1.3180
2013-07-18 04:04 GMT | AUD/USD trips stop losses below 0.9170

EURUSD :
HIGH 1.31271 LOW 1.3091 BID 1.30962 ASK 1.30968 CHANGE -0.22% TIME 08 : 24:12

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD stabilized on the hourly timeframe. Potential to move higher is seen above the next resistance level at 1.3147 (R1). Loss here would suggest next intraday targets at 1.3179 (R2) and 1.3210 (R3). Downwards scenario: Possible downside extension might face next supportive barrier at 1.3081 (S1). Clearance here is required to open the way towards to interim target at 1.3050 (S2) and any further price regress would then be targeting 1.3019 (S3).

Resistance Levels: 1.3147, 1.3179, 1.3210
Support Levels: 1.3081, 1.3050, 1.3019

GBPUSD :
HIGH 1.52232 LOW 1.51728 BID 1.51789 ASK 1.51799 CHANGE -0.21% TIME 08 : 24:12

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

Upwards scenario: GBPUSD is approaching our next resistance level at 1.5223 (R1), keeping the ascending structure intact. The break here is required for the price appreciation towards to next target at 1.5252 (R2) and any further rise would then be targeting to 1.5281 (R3). Downwards scenario: On the downside next supportive bastion lies at 1.5152 (S1). Prolonged movement below it might then expose our intraday targets at 1.5124 (S2) and 1.5095 (S3).

Resistance Levels: 1.5223, 1.5252, 1.5281
Support Levels: 1.5152, 1.5124, 1.5095

USDJPY :
HIGH 100.18 LOW 99.463 BID 100.085 ASK 100.088 CHANGE 0.53% TIME 08 : 24:13

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

Upwards scenario: Our next resistance level is placed at 100.22 (R1). Clearance here is required to resume uptrend structure towards to next target at 100.41 (R2) and any further price appreciation would then be limited to 100.61 (R3) mark. Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 99.84 (S1) might open way towards to lower targets at 99.64 (S2) and 99.44 (S3).

Resistance Levels: 100.22, 100.41, 100.61
Support Levels: 99.84, 99.64, 99.44

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

alayoua · July 19, 2013, 2:26am

[B]Forex Technical & Market Analysis FXCC Jul 19 2013

Bernanke: Too early to say when tapering will start

Federal Reserve Chairman Ben Bernanke testified before the Congress for a second day on Thursday. While the introductory statement remained unchanged, investors didn’t get new insights from the Q&A session before the Senate Banking Committee. When asked about the time the Fed will scale back its monthly bond-buying programme, he said “it’s way too early to make any judgment” as the Fed wants to see sustainable improvement in labor markets. Bernanke also said he has broad support for his policy outlook through the Fed leadership. “We’ve not changed policy. We are not talking about tightening monetary policy”, Bernanke said. He added that none of what the Fed has communicated about winding down its bond purchases implies tighter policy in the foreseeable future. Among other remarks, Bernanke said he doesn’t see risks to financial stability from student debt, though he said it could have negative economic consequences in the long-term. “It is not particularly likely to cause any sharp instability of the sort we saw in the last few years”, Bernanke said Thursday.
https://support.fxcc.com/email/technical/19072013

FOREX ECONOMIC CALENDAR :
24h | All. G20 Meeting
2013-07-19 06:00 GMT | Germany. Producer Price Index (YoY)
2013-07-19 08:30 GMT | UK. Public Sector Net Borrowing
2013-07-19 12:30 GMT | Canada. Consumer Price Index (YoY)

FOREX NEWS :
2013-07-19 04:48 GMT | GBP/USD surge capped below 1.5250
2013-07-19 04:08 GMT | EUR/USD knocking on the door of short-term break above 1.3205
2013-07-19 03:13 GMT | USD/JPY touches the 100 handle on Yen strength
2013-07-19 02:55 GMT | AUD/USD supported on broad USD weakness

EURUSD :
HIGH 1.31503 LOW 1.30891 BID 1.31386 ASK 1.31391 CHANGE 0.23% TIME 08 : 26:35

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Fresh high offers a key resistive barrier at 1.3151 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3179 (R2) and 1.3204 (R3) in potential. Downwards scenario: Activation of bearish forces is possible below the support level at 1.3112 (S1). Clearance here would suggest next interim target at 1.3086 (S2) and if the price holds its momentum we would suggest final aim at 1.3060 (S3).

Resistance Levels: 1.3151, 1.3179, 1.3204
Support Levels: 1.3112, 1.3086, 1.3060

GBPUSD :
HIGH 1.52504 LOW 1.51963 BID 1.52323 ASK 1.52327 CHANGE 0.05% TIME 08 : 26:36

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

Upwards scenario: Medium term bias remains positive however further market strengthening is required to clear resistive barrier at 1.5252 (R1). Next visible resistances are seen at 1.5281 (R2) and 1.5311 (R3). Downwards scenario: On the other hand, retracement formation might occur below the immediate support level at 1.5194 (S1). Clearance here would enable our next intraday targets at 1.5162(S2) and 1.5130 (S3).

Resistance Levels: 1.5252, 1.5281, 1.5311
Support Levels: 1.5194, 1.5162, 1.5130

USDJPY :
HIGH 100.866 LOW 99.809 BID 100.063 ASK 100.068 CHANGE -0.36% TIME 08 : 26:36

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

Upwards scenario: Possibility of upwards action is seen above the next resistance level at 100.22 (R1). Clearance here is required to let the price achieve our higher intraday targets at 100.41 (R2) and 100.61 (R3). Downwards scenario: On the other side, bearish market sentiment could be created if the price manages to overcome our next support level at 99.80 (S1). A violation here might call for a run towards to lower targets at 99.62 (S2) and 99.43 (S3).

Resistance Levels: 100.22, 100.41, 100.61
Support Levels: 99.80, 99.62, 99.43

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

alayoua · July 22, 2013, 5:45am

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

Portugal’s president backs coalition government

Portugal president Aníbal Cavaco Silva on Sunday supported the current coalition government, saying they should stay till end of the term, ending weeks of political crisis in the country, which had led international actors to even threaten the country’s €78 billion international bailout. “As the national salvation compromise was impossible to achieve, I consider that the best alternative solution is for the present government to remain in its functions, with reinforced guarantees of cohesion and solidity of the coalition, until the end of its term (in 2015)” Mr. Cavaco said. Further headlines were provided by Bloomberg, with Cavaco saying he “laments talks on ‘National salvation’ agreement failed to produce results”, and that “agreement will eventually be imposed by reality in future.”

Session in the Asia-Pacific to start the week opened with an early move higher in Yen that soon corrected to break even before Tokyo started trading, but then as soon as traders hit the floor the Yen rose again to as high as 99.57 of the USD/JPY pair. The Yen move became in broad USD weakness following Japan PM Abe’s upper house win, taking EUR/USD to session highs at 1.3170, AUD/USD to 0.9228, and Cable to 1.5298. Nikkei index opened in the 14750 region but soon eased to break even shy of 14600. Gold and Silver broke higher above key $1300 resistance in case of Gold, while Oil remained above the $108 handle. Local share markets traded mixed with China mainland and Japan in the negative, while Australia and Korea still in the positive.
https://support.fxcc.com/email/technical/22072013/

FOREX ECONOMIC CALENDAR :
2013-07-22 07:00 GMT | Stitzerland. Monthly Statistical Bulletin (Jul)
2013-07-22 12:30 GMT | USA. Chicago Fed National Activity Index (Jun)
2013-07-22 14:00 GMT | USA. Existing Home Sales Change (Jun)
2013-07-22 15:30 GMT | USA. 6-Month Bill Auction

FOREX NEWS :
2013-07-22 04:53 GMT | AUD/USD, 0.93 to mark a cap in the recovery - BBH
2013-07-22 04:47 GMT | GBP/USD capped below 1.53 ahead of London
2013-07-22 04:45 GMT | AUD/JPY to peak at 94.00 in September - NAB
2013-07-22 04:33 GMT | EUR/USD holding gains above 1.3150

EURUSD :
HIGH 1.31694 LOW 1.31329 BID 1.31529 ASK 1.31534 CHANGE 0.09% TIME 08 : 19:28

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Apparently market sentiment is positive for the EURUSD as both moving averages are pointing up. Clearance of our resistance at 1.3178 (R1) would clear the way for an upside penetration towards to next visible targets at 1.3201 (R2) and 1.3224 (R3). Downwards scenario: Prolonged movement below the supportive measure at 1.3130 (S1) is required to activate downtrend expansion. Next aim on the way would be mark at 1.3105 (S2) and then final target could be met at 1.3081 (S3).

Resistance Levels: 1.3178, 1.3201, 1.3224
Support Levels: 1.3130, 1.3105, 1.3081

GBPUSD :
HIGH 1.52971 LOW 1.52577 BID 1.52831 ASK 1.52842 CHANGE 0.13% TIME 08 : 19:29

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

Upwards scenario: Further uptrend development is limited now to the next resistive measure at 1.5311 (R1). Clearance here is required to enable our interim target at 1.5341 (R2) en route to final aim at 1.5372 (R3). Downwards scenario: On the other hand, depreciation below the technically important support level at 1.5246 (S1) might lead to the correction formation on the short-term perspective. Possible targets lies at 1.5213 (S2) and 1.5182 (S3).

Resistance Levels: 1.5311, 1.5341, 1.5372
Support Levels: 1.5246, 1.5213, 1.5182

USDJPY :
HIGH 100.62 LOW 99.608 BID 100.041 ASK 100.044 CHANGE -0.6% TIME 08 : 19:29

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

Upwards scenario: Possibility of market strengthening is seen above the resistance level at 100.18 (R1). Clearance here is required to validate next interim target at 100.36 (R2) and any further rise would then be targeting mark at 100.55 (R3). Downwards scenario: On the downside, support level at 99.80 (S1) limits possible downtrend expansion. Break here is required to enable lower target at 99.63 (S2) en route to final aim at 99.45 (S3).

Resistance Levels: 100.18, 100.36, 100.55
Support Levels: 99.80, 99.63, 99.45

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

alayoua · July 23, 2013, 6:29am

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

Bank of Japan stands ready to inject further stimulus

The Bank of Japan is prepared to provide further easing to the economy should signs fail to emerge about an economic recovery, including an inflation mandate of 2% in the short-run. According to BoJ board member Takehiro Sato, more stimulus is a real possibility if the economy’s recovery is threatened, naming a few risks such as slower-than-expected growth in China. “A high degree of uncertainty remains concerning the global economy, and I see risks to the economic outlook as somewhat tilted to the downside,” Sato said.

“The BOJ does not exclude the implementation of additional measures and will not hesitate to fine-tune its policies flexibly when unexpected tail risks materialise,” Sato added in a speech to business leaders in Fukushima, northeastern Japan. Sato also said the 2% inflation should be seen as a flexible target, subject to change in the 2-year projections, a timeframe which had been repeatedly mentioned by BOJ governor Haruhiko Kuroda in past meetings. “If the inflation rate is projected to stabilise within a certain range, with the median being 2 per cent price growth, the main objective of the bank’s policy will have been fulfilled,” Sato said. Mr Sato, an economist who joined the BOJ board last year, was nonetheless more optimistic about japan’s economy from a year earlier, saying a recovery was “coming into view”, presenting a “window of opportunity” to overcome deflation.
https://support.fxcc.com/email/technical/23072013/

FOREX ECONOMIC CALENDAR :
2013-07-23 08:30 GMT | UK. BBA Mortgage Approvals
2013-07-23 12:30 GMT | Canada. Retail Sales
2013-07-23 13:00 GMT | USA. Housing Price Index
2013-07-23 14:00 GMT | EMU. Consumer Confidence

FOREX NEWS :
2013-07-23 03:27 GMT | EUR/JPY back around 131.50 on Euro strength
2013-07-23 02:55 GMT | AUD/USD struggling above 0.9280 highs
2013-07-23 02:42 GMT | GBP/USD conquers 1.5304 resistance – now targeting key level at 1.5432
2013-07-23 02:16 GMT | EUR/USD faces risk for extension into 1.20/1.18 - JPMorgan

EURUSD :
HIGH 1.32072 LOW 1.31827 BID 1.31970 ASK 1.31975 CHANGE 0.09% TIME 08 : 37:12

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Yesterday high at 1.3217 (R1) limits further uptrend establishment. Break here is required to enable next interim target at 1.3243 (R2) en route towards to final aim for today at 1.3268 (R3). Downwards scenario: Depreciation below the support level at 1.3177 (S1) would suggest next intraday target at 1.3152 (S2) and any further weakening would then be limited to final support level at 1.3126 (S3).

Resistance Levels: 1.3217, 1.3243, 1.3268
Support Levels: 1.3177, 1.3152, 1.3126

GBPUSD :
HIGH 1.53767 LOW 1.53548 BID 1.53667 ASK 1.53673 CHANGE 0.05% TIME 08 : 37:13

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

Upwards scenario: Fractal level at 1.5385 (R1) offers next resistive barrier. Penetration above that mark might trigger upside pressure and expose our next resistive mean at 1.5415 (R2) en route towards to final target for today at 1.5445 (R3). Downwards scenario: Though, possibility of correction is high. Price devaluation below the support at 1.5345 (S1) would initiate bearish pressure. On the way our next interim support at 1.5315 (S2) en route to final target at 1.5285 (S3).

Resistance Levels: 1.5385, 1.5415, 1.5445
Support Levels: 1.5345, 1.5315, 1.5285

USDJPY :
HIGH 99.68 LOW 99.143 BID 99.465 ASK 99.467 CHANGE -0.2% TIME 08 : 37:13

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

Upwards scenario: USDJPY remains under the consolidation mode after the initial uptrend formation. Strengthening above the next resistive structure at 99.70 (R1) might activate medium-term bullish pressure and expose our intraday targets at 99.86 (R2) and 100.02 (R3). Downwards scenario: Further downside expansion might face next hurdle at 99.28 (S1). Break here is liable to initiate stronger bearish pressure and validate our immediate targets at 99.13 (S2) and 98.98 (S3) in potential.

Resistance Levels: 99.70, 99.86, 100.02
Support Levels: 99.28, 99.13, 98.98

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

alayoua · July 25, 2013, 6:39am

[B]Forex Technical & Market Analysis FXCC Jul 25 2013

Greece one step away from bailout payment

According to the German finance ministry, Greece has completed 21 out of the 22 measures required by the international lenders in exchange for the next bailout payment. The country still has to implement the “mobility scheme” which involves a transfer or dismissal of 12,500 public workers within a year. The measure is expected to be fulfilled until tomorrow. Ryan Littlestone from ForexLive believes that the Troika will finally approve the next bailout payment for Greece, despite the impediments: “Seeing as they’ve never backed down from hand over cash to Greece there’s little chance of this episode failing.”
https://support.fxcc.com/email/technical/25072013/

FOREX ECONOMIC CALENDAR :
2013-07-25 08:30 GMT | UK. Gross Domestic Product (YoY)
2013-07-25 12:30 GMT | USA. Durable Goods Orders (Jun)
2013-07-25 12:30 GMT | USA. Initial Jobless Claims
2013-07-25 23:30 GMT | Japan. National Consumer Price Index (YoY)

FOREX NEWS :
2013-07-25 04:53 GMT | EUR/USD rally paused for a day. More upside to come or is correction just starting?
2013-07-25 04:45 GMT | USD/CAD eyes 1.0660 as next target - JPMorgan
2013-07-25 04:30 GMT | GBP/USD holds above 1.53 ahead of UK GDP
2013-07-25 02:57 GMT | USD/JPY slipping Thursday after a bounce on Wednesday; major resistance looms

EURUSD :
HIGH 1.3221 LOW 1.31877 BID 1.32137 ASK 1.32140 CHANGE 0.1% TIME 08 : 32:34

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Recent price acceleration on the upside suggests short-term positive bias. Possible penetration above the resistance level at 1.3230 (R1) is liable to open way towards to our initial targets at 1.3248 (R2) and 1.3264 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 1.3197 (S1). A fall below it might prolong medium-term weakness towards to next support at 1.3180 (S2) and any further market decline would then be targeting final support at 1.3162 (S3).

Resistance Levels: 1.3230, 1.3248, 1.3264
Support Levels: 1.3197, 1.3180, 1.3162

GBPUSD :
HIGH 1.53442 LOW 1.5305 BID 1.53378 ASK 1.53387 CHANGE 0.17% TIME 08 : 32:35

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

Upwards scenario: A violation of next resistance at 1.5352 (R1) might call for a run towards to next target at 1.5375 (R2) and any further appreciation would then be limited to final target at 1.5397 (R3). Downwards scenario: Possible downside expansion is limited to the next support level at 1.5324 (S1). Break here is required to open way towards to initial targets at 1.5301 (S2) and 1.5278 (S3).

Resistance Levels: 1.5352, 1.5375, 1.5397
Support Levels: 1.5324, 1.5301, 1.5278

USDJPY :
HIGH 100.456 LOW 99.876 BID 99.972 ASK 99.974 CHANGE -0.27% TIME 08 : 32:36

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

Upwards scenario: Possible upwards formation is limited to resistive measure at 100.06 (R1). A break above it would suggest next intraday target at 100.18 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 100.30 (R3). Downwards scenario: In order to prolong downside extension, USDJPY should successfully retest our support level at 99.86 (S1). Below it locates our intraday targets at 99.74 (S2) and 99.62 (S3).

Resistance Levels: 100.06, 100.18, 100.30
Support Levels: 99.86, 99.74, 99.62

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

alayoua · July 26, 2013, 4:14am

[B]Forex Technical & Market Analysis FXCC Jul 26 2013

What does Japan CPI rise mean for the BoJ?

In a clear sign of temporary victory by ‘Abenomics’ radical policies, Japan printed the sharpest rise in core inflation in almost 5 years, with the read out at +0.4% y/y vs 0.3% exp. The rest of indicators were also encouraging. ne of the top priorities by Japan is to end a 15-year deflation cycle, so that the country can start to develop a self-sustaining recovery. In large part, this is the main reason behind the radical ultra-loose monetary policy being currently deployed by the BoJ, which has committed to double the amount the central bank purchases in Japanese government debt. The country will continue to actively assess how these increases in price pressure - still minimal - are having an impact on the mindset of the population, potentially leading to support more credit, spending and rise in salaries. However, as IFR Markets Editor Amanda Tan notes, “a planned sales tax hike in April next year - from 5% to 8% - poses a downside risk to spending & sentiment, particularly if wages don’t start to rise.”
https://support.fxcc.com/email/technical/26072013/

FOREX ECONOMIC CALENDAR :
2013-07-26 06:00 GMT | Germany. Import Price Index
2013-07-26 06:00 GMT | UK. Nationwide Housing Prices n.s.a
2013-07-26 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment Index

FOREX NEWS :
2013-07-26 04:58 GMT | EUR/GBP lurking below Fibonacci resistance at 0.8631 and 0.8646 ahead of data
2013-07-26 04:28 GMT | GBP/USD pares all loses post-UK GDP dump
2013-07-26 02:46 GMT | EUR/USD higher on the back of broad USD weakness
2013-07-26 02:43 GMT | USD/JPY breaking lower, lowest at 98.70

EURUSD :
HIGH 1.32889 LOW 1.32687 BID 1.32787 ASK 1.32790 CHANGE 0.02% TIME 08 : 36:57

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD commenced new step of uptrend formation. Possibility of further market appreciation is seen above the resistance level at 1.3296 (R1). Break here is required to validate next targets at 1.3316 (R2) and 1.3336 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.3257 (S1). Below here we see potential for the price acceleration towards to next targets at 1.3237 (S2) and 1.3217 (S3).

Resistance Levels: 1.3296, 1.3316, 1.3336
Support Levels: 1.3257, 1.3237, 1.3217

GBPUSD :
HIGH 1.54058 LOW 1.53732 BID 1.53913 ASK 1.53920 CHANGE 0.03% TIME 08 : 36:57

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

Upwards scenario: While price is traded above the moving averages short-term bias would be considered as bullish. Next on tap is resistive barrier at 1.5419 (R1) on the way towards to higher targets at 1.5445 (R2) and 1.5470 (R3). Downwards scenario: On the other hand, break below the support at 1.5370 (S1) is required to enable further market decline. Our next supportive measures locates at 1.5343 (S2) and 1.5316 (S3).

Resistance Levels: 1.5419, 1.5445, 1.5470
Support Levels: 1.5370, 1.5343, 1.5316

USDJPY :
HIGH 99.402 LOW 98.626 BID 98.766 ASK 98.771 CHANGE -0.52% TIME 08 : 36:58

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

Upwards scenario: USDJPY gained momentum on the downside and likely will close on the negative territory today. However clearance of our next resistive structure at 98.94 (R1) would open way towards to our initial target at 99.11 (R2) and any further market rise would then be targeting 99.29 (R3). Downwards scenario: On the other side, a dip below the initial support level at 98.53 (S1) is liable to trigger protective orders execution and drive market price towards to supportive means at 98.38 (S2) and 98.21 (S3).

Resistance Levels: 98.94, 99.11, 99.29
Support Levels: 98.53, 98.38, 98.21

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

alayoua · July 29, 2013, 6:00am

[B]Forex Technical & Market Analysis FXCC Jul 29 2013

Japan’s PM Abe rethinks sales tax hike; inflation case strengthens?

Japan’s most significant fiscal reform in years, that is, a planned hike from 5% to 8% in sales tax by April 2014, faces the prospects of being delayed or watered down as concerns mount the tax increase may do more harm than good to the delicate economic recovery in the country. According to a report from Reuters earlier on Monday: “PM Abe says he will decide in the autumn whether to proceed with the first part of the two-stage plan after gauging the state of the economic recovery, especially GDP data that is due on Sept 9.”
https://support.fxcc.com/email/technical/29072013/

FOREX ECONOMIC CALENDAR :
N/A | Bank of Japan Governor Kuroda Speech
2013-07-29 08:30 GMT | UK. Mortgage Approvals
2013-07-29 14:00 GMT | US. Pending Home Sales (YoY)
2013-07-29 23:50 GMT | Japan. Industrial Production (YoY)

FOREX NEWS :
2013-07-29 05:20 GMT | USD/JPY pulling back after Kuroda headlines make the rounds
2013-07-29 04:50 GMT | GBP/USD capped below big 1.54 figure
2013-07-29 04:44 GMT | EUR/USD approaching flat line for the session after initial upside
2013-07-29 04:09 GMT | AUD/JPY hovering above Friday’s lows of 90.56. Target 89.39, but will it bounce first?

EURUSD
HIGH 1.32936 LOW 1.32735 BID 1.32770 ASK 1.32775 CHANGE -0.01% TIME 08 : 34:38

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Market took a breath after last days gains. Though possible clearance of our next resistive barrier at 1.3297 (R1) would suggest next intraday targets at 1.3316 (R2) and 1.3333 (R3) in potential. Downwards scenario: Fractal level, formed on the 24-07-2013 provides an important supportive mark at 1.3256 (S1). Any penetration below this level would suggest next targets at 1.3237 (S2) and 1.3217 (S3) in potential.

Resistance Levels: 1.3297, 1.3316, 1.3333
Support Levels: 1.3256, 1.3237, 1.3217

GBPUSD :
HIGH 1.54043 LOW 1.53747 BID 1.53816 ASK 1.53823 CHANGE 0.08% TIME 08 : 34:39

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

Upwards scenario: Further positive bias development would face next resistive measure at 1.5419 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.5445 (R2) and 1.5470 (R3). Downwards scenario: Possible recovery action might get acceleration below the support level at 1.5370 (S1). Loss here would suggest next intraday target at 1.5343 (S2) and any weakening below it would then be limited to final support at 1.5316 (S3).

Resistance Levels: 1.5419, 1.5445, 1.5470
Support Levels: 1.5370, 1.5343, 1.5316

USDJPY :
HIGH 98.34 LOW 97.633 BID 97.880 ASK 97.880 CHANGE -0.37% TIME 08 : 34:40

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

Upwards scenario: Medium term bias remains negative and possible price appreciation is limited to resistive barrier at 98.21 (R1). Prolonged movement above that level would suggest next intraday targets at 98.46 (R2) and 98.71 (R3). Downwards scenario: Further market weakening is protected by important technical level at 97.63 (S1). Break here is required to open road towards to interim target at 97.39 (S2) en route to final aim at 97.14 (S3).

Resistance Levels: 98.21, 98.46, 98.71
Support Levels: 97.63, 97.39, 97.14

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

alayoua · July 30, 2013, 7:02am

[B]Forex Technical & Market Analysis FXCC Jul 30 2013

RBA Stevens speech recap: Still some scope to ease after last CPI

Governor of the RBA, Glenn Stevens, is giving his annual speech to The Anika Foundation Luncheon in Sydney, and some explosive comments are now crossing the wires. The topic of the speech is current issues in economic policy. According to RBA’s Stevens, long rise in mining investment is now over, saying that coming fall could be “quite big”. Stevens said that easing is working to shift investors to taking some more risk, adding that shift in risk taking not yet a serious impediment to further policy easing. Stevens remained dovish on his tone, saying that “still has some scope to ease after inflation data.” On the Aussie value, Stevens wouldn’t be surprised if it falls further, as “the fall makes economic sense.”
https://support.fxcc.com/email/technical/30072013/

FOREX ECONOMIC CALENDAR :
2013-07-30 09:00 GMT | EMU. Consumer Confidence (Jul)
2013-07-30 12:00 GMT | Germany. Consumer Price Index (YoY)
2013-07-30 14:00 GMT | US. Consumer Confidence (Jul)
2013-07-30 23:13 GMT | Japan. Nomura/ JMMA Manufacturing Purchasing Manager Index (Jul)

FOREX NEWS :
2013-07-30 05:38 GMT | AUD/JPY slashes below key support at 89.39 on Stevens comments
2013-07-30 05:05 GMT | AUD/USD craters below recent trading range on Stevens’ speech
2013-07-30 05:03 GMT | NZD/USD breaks below 0.80 following RBA Stevens
2013-07-30 03:51 GMT | USD/JPY explodes towards 98.40/50 stops

EURUSD :
HIGH 1.32661 LOW 1.32474 BID 1.32587 ASK 1.32590 CHANGE -0.03% TIME 08 : 40:16

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Market trapped to the consolidation phase after initial uptrend development. Further buying interest might occur above the resistance at 1.3273 (R1). Our initial targets locates at 1.3288 (R2) and 1.3304 (R3) Downwards scenario: If the price manages to clear an important technical level at 1.3247 (S1), recovery action might get more stimulus. Our next support levels locates at 1.3232 (S2) and 1.3217 (S3).

Resistance Levels: 1.3273, 1.3288, 1.3304
Support Levels: 1.3247, 1.3232, 1.3217

GBPUSD :
HIGH 1.53438 LOW 1.53152 BID 1.53391 ASK 1.53398 CHANGE 0% TIME 08 : 40:17

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

Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5345 (R1). Break here is required to prolong upside pressure and trigger our intraday targets at 1.5360 (R2) and 1.5376 (R3) later on today. Downwards scenario: Further downtrend expansion might face next hurdle at the local low- 1.5314 (S1). Break here is required to open road towards to our next interim target at 1.5299 (S2) en route to final aim at 1.5283 (S3).

Resistance Levels: 1.5345, 1.5360, 1.5376
Support Levels: 1.5314, 1.5299, 1.5283

USDJPY :
HIGH 98.463 LOW 97.849 BID 98.372 ASK 98.376 CHANGE 0.43% TIME 08 : 40:17

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

Upwards scenario: Medium term bias is clearly negative however we expect resuming of the recovery action if the price manages to overcome key resistive bastion at 98.46 (R1). In such case we would suggest next intraday targets at 98.71 (R2) and 98.96 (R3). Downwards scenario: Our next support level locates at 97.99 (S1) mark. Possible penetration below this mark would open way towards to next target at 97.73 (S2) and then final aim lie at 97.47 (S3) price level.

Resistance Levels: 98.46, 98.71, 98.96
Support Levels: 97.99, 97.73, 97.47

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

alayoua · July 31, 2013, 6:28am

[B]Forex Technical & Market Analysis FXCC Jul 31 2013

The world awaits the FOMC decision and statements

Unlike many of the recent Fed meetings, Today’s meeting will feature only the FOMC’s decision and accompanying statement – but still the world is watching. Today’s interest rate decision will only be accompanied by their official statement regarding their decision. Traders and analysts are hoping for more guidance on the Fed’s plans regarding their bond buying program.
https://support.fxcc.com/email/technical/31072013/

FOREX ECONOMIC CALENDAR :
2013-07-31 09:00 GMT | EMU. Consumer Price Index - Core (YoY)
2013-07-31 12:30 GMT | USA. Gross Domestic Product Annualized (Q2)
2013-07-31 18:00 GMT | USA. Fed Interest Rate Decision
2013-07-31 18:00 GMT | USA. Fed’s Monetary Policy Statement and press conference

FOREX NEWS :
2013-07-31 04:43 GMT | Today is the big day, USD to be pressured - SocGen
2013-07-31 04:29 GMT | FOMC client survey results; most hold USD longs - Nomura
2013-07-31 04:25 GMT | NZD/USD holding above 0.7950 while capped below 0.80
2013-07-31 04:04 GMT | USD to strengthen as ‘dovish’ Fed priced in - RBS

EURUSD :
HIGH 1.3268 LOW 1.32517 BID 1.32572 ASK 1.32577 CHANGE -0.04% TIME 08 : 46:29

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: All supports and resistances remains the same today. Mark at 1.3273 (R1) acts as next resistive barrier on the way if the pair keeps it upside potential. Break here is required to achieve higher targets at 1.3288 (R2) and 1.3304 (R3) later on today. Downwards scenario: On the other side, depreciation below the support at 1.3247 (S1) might shift short-term tendency to the bearish side and validate our intraday targets at 1.3232 (S2) and 1.3217(S3).

Resistance Levels: 1.3273, 1.3288, 1.3304
Support Levels: 1.3247, 1.3232, 1.3217

GBPUSD :
HIGH 1.52434 LOW 1.52185 BID 1.52244 ASK 1.52250 CHANGE -0.09% TIME 08 : 46:30

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

Upwards scenario: Instrument gained momentum on the downside recently, turning short-term bias to the negative side. Though, upwards penetration above the resistance at 1.5252 (R1) might enable bullish forces and expose our initial targets at 1.5267 (R2) and 1.5282 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.5215 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.5205 (S2) and then 1.5186 (S3).

Resistance Levels: 1.5252, 1.5267, 1.5282
Support Levels: 1.5215, 1.5205, 1.5186

USDJPY :
HIGH 98.162 LOW 97.847 BID 98.019 ASK 98.020 CHANGE -0.01% TIME 08 : 46:31

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

Upwards scenario: Possible volatility increase might commence new phase of downtrend extension either prolong retracement formation on the hourly chart frame. Price appreciation above the resistance at 98.23 (R1) would suggest intraday targets at 98.44 (R2) and 98.65 (R3). Downwards scenario: On the downside, next on tap is seen support level at 97.74 (S1). Clearance here is required to enable lower targets at 97.49 (S2) and 97.25 (S3)

Resistance Levels: 98.23, 98.44, 98.65
Support Levels: 97.74, 97.49, 97.25

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

alayoua · August 1, 2013, 6:29am

[B]Forex Technical & Market Analysis FXCC Aug 01 2013

Mixed data spur controversies on Chinese PMI data restrictions

Last month, the National Bureau of Statistics restrained industry-specific data upon publication of Purchasing Manufacturing indexes. Under the premise implying not enough resources were available to make such analysis public, the Chinese opted to suspend relevant information indicative of this year’s economic performance. As stated by the vice president of the China Federation of Logistics & Purchasing, “We now have 3,000 samples in the survey, and from a technical point of view, time is very limited — there are many industries, you know”. While Chinese provide zero point zone explanations, speculation concerning the reasons behind such measures continues to surge.
https://support.fxcc.com/email/technical/01082013/

FOREX ECONOMIC CALENDAR :
2013-08-01 11:00 GMT | UK. BoE Interest Rate Decision
2013-08-01 11:45 GMT | EMU. ECB Interest Rate Decision
2013-08-01 12:30 GMT | EMU. ECB Monetary policy statement and press conference
2013-08-01 14:00 GMT | USA. ISM Manufacturing PMI

FOREX NEWS :
2013-08-01 04:12 GMT | GBP/USD at fresh session lows ahead of London
2013-08-01 03:09 GMT | USD/JPY totally flat for the week above 98 waiting NFP
2013-08-01 02:55 GMT | AUD/USD, 0.8858 and 8775 next targets - 2ndSkies
2013-08-01 02:25 GMT | EUR/USD flat for the week inside a 150 pip range

EURUSD
HIGH 1.33108 LOW 1.32661 BID 1.32698 ASK 1.32702 CHANGE -0.25% TIME 08 : 45:58

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Possible upside penetration looks limited now to the next resistive barrier at 1.3288 (R1). Appreciation above this mark might gradually push the pair toward to next targets at 1.3304 (R2) and 1.3319 (R3) in potential. Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3252 (S1). Penetration below this mark would suggest next targets at 1.3238 (S2) and 1.3223 (S3).

Resistance Levels: 1.3288, 1.3304, 1.3319
Support Levels: 1.3252, 1.3238, 1.3223

GBPUSD :
HIGH 1.52102 LOW 1.51535 BID 1.51597 ASK 1.51599 CHANGE -0.3% TIME 08 : 45:59

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

Upwards scenario: Possible buying interest might push the pair to attack next resistive measure at 1.5187 (R1). Clearance here is required to resume upside formation, targeting marks at 1.5207 (R2) and 1.5226 (R3) later on today. Downwards scenario: On the other hand, loss of our support level at 1.5146 (S1) would open road for a market decline towards to our next target at 1.5128 (S2). Any further price weakening would then be limited to final support for today at 1.5109 (S3).

Resistance Levels: 1.5187, 1.5207, 1.5226
Support Levels: 1.5146, 1.5128, 1.5109

USDJPY :
HIGH 98.375 LOW 97.658 BID 98.350 ASK 98.353 CHANGE 0.52% TIME 08 : 46:00

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

Upwards scenario: Risk of further price appreciation is seen above the next resistance level at 98.46 (R1). Clearance here would suggest next intraday target at 98.66 (R2) and then final aim locates at 98.86 (R3). Downwards scenario: On the other hand, clearance of our support at 98.11 (S1) is required to determine negative intraday bias and enable lower target at 97.90 (S2) and then any further market depreciation would suggest final support at 97.69 (S3).

Resistance Levels: 98.46, 98.66, 98.86
Support Levels: 98.11, 97.90, 97.69

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

alayoua · August 5, 2013, 6:33am

[B]Forex Technical & Market Analysis FXCC Aug 05 2013

Australian services sector falls below 40.00, first time since GFC

Earlier on the session it was learnt that the Australian Performance of Services Index (Australian PSI®) fell deeper into the red, this time by 2.1 points to 39.4 in July, suggesting further contraction in activity. This is the lowest level for the Australian PSI® since March 2009, Ai Group reported, saying that “outside the GFC-related downturn in 2008-09, it is the first time the Australian PSI® has fallen below 40 points.”
https://support.fxcc.com/email/technical/05082013/

FOREX ECONOMIC CALENDAR :
2013-08-05 07:58 GMT | EMU. Markit Services PMI
2013-08-05 08:28 GMT | UK. Markit Services PMI (Jul)
2013-08-05 09:00 GMT | EMU. Retail Sales (YoY)
2013-08-05 14:00 GMT | US. ISM Non-Manufacturing PMI

FOREX NEWS :
2013-08-05 05:18 GMT | GBP/USD mustering a modest bounce after five straight down sessions
2013-08-05 04:31 GMT | AUD/USD enters heavy data week oversold and with the world leaning against it
2013-08-05 04:09 GMT | EUR/USD, sellers protect 1.3280 resistance
2013-08-05 03:24 GMT | USD/JPY easing below 99.00

EURUSD :
HIGH 1.32868 LOW 1.32635 BID 1.32788 ASK 1.32791 CHANGE -0.02% TIME 08 : 33:34

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3293 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets 1.3304 (R2) and 1.3316 (R3). Downwards scenario: Risk of market depreciation is seen below the next support level at 1.3263 (S1). Clearance here would suggest next intraday targets at 1.3252 (S2) and 1.3241 (S3) in potential.

Resistance Levels: 1.3293, 1.3304, 1.3316
Support Levels: 1.2263, 1.3252, 1.3241

GBPUSD :
HIGH 1.52969 LOW 1.5259 BID 1.52751 ASK 1.52756 CHANGE -0.05% TIME 08 : 33:34

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

Upwards scenario: Market price penetrated above the Friday’s high. On the way is key resistive measure at 1.5309 (R1), break here is required to achieve higher targets at 1.5330 (R2) and 1.5350 (R3). Downwards scenario: On the downside next challenge is seen at 1.5248 (S1). Breakthrough here would open road for a recovery action towards to our initial targets at 1.5233 (S2) and 1.5212 (R3) in potential.

Resistance Levels: 1.5309, 1.5330, 1.5350
Support Levels: 1.5248, 1.5233, 1.5212

USDJPY :
HIGH 99.15 LOW 98.706 BID 98.771 ASK 98.776 CHANGE -0.17% TIME 08 : 33:35

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

Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 99.15 (R1) would suggest next targets at 99.32 (R2) and 99.49 (R3). Downwards scenario: Further recovery phase is limited now to the next supportive barrier at 98.65 (S1). Only loss here would enable our intraday targets at 98.50 (S2) and 98.34 (S3) on the downside.

Resistance Levels: 99.15, 99.32, 99.49
Support Levels: 98.65, 98.50, 98.34

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

alayoua · August 6, 2013, 7:02am

[B]Forex Technical & Market Analysis FXCC Aug 06 2013

AUD/USD rallies initially after RBA, but a lot of resistance looms

The AUD/USD came into the RBA decision very oversold and ready squeeze the bears. Despite the initial pop, technicians say there’s plenty of resistance to conquer before the bulls take control of the macro picture. The initial positive reaction following the RBA’s 25 basis point rate cut appears to be the market weeding out those shorts who were banking on a 50 basis point cut. While nobody knows exactly how much money was being bet against the AUD/USD, but the mercilous selling that led to the extreme oversold readings made it quite apparent that the short-Aussie trade was extremely crowded – and the markets do not treat crowded trades well typically. The good news for bears that were not over-leveraged is that the RBA hinted that they stand at the ready to act further if growth continues to be a problem and inflation remains benign.
https://support.fxcc.com/email/technical/06082013/

FOREX ECONOMIC CALENDAR :
2013-08-06 08:30 GMT | UK. Industrial Production (YoY)
2013-08-06 12:30 GMT | US. Trade Balance
2013-08-06 14:00 GMT | UK. NIESR GDP Estimate (3M)
2013-08-06 22:45 GMT | NZ. Unemployment Rate (Q2)

FOREX NEWS :
2013-08-06 05:04 GMT | Japan June Leading Economic Index falls to 107 vs 110.7
2013-08-06 04:48 GMT | USD pares loses; RBA cuts 25bps as expected
2013-08-06 04:47 GMT | EUR/AUD, on never-ending downfall?
2013-08-06 03:48 GMT | USD/JPY, Houston, do we have a problem?

EURUSD :
HIGH 1.32714 LOW 1.32526 BID 1.32546 ASK 1.32552 CHANGE -0.03% TIME 08 : 40:54

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Despite the current consolidation pattern, EURUSD remains in uptrend formation on the bigger picture. Clearance of our next resistance level at 1.3272 (R1) would suggest initial targets at 1.3282 (R2) and 1.3292 (R3). Downwards scenario: On the downside next supportive bastion lies at 1.3250 (S1). Prolonged movement below it might then expose our intraday targets at 1.3241 (S2) and 1.3231 (S3).

Resistance Levels: 1.3272, 1.3282, 1.3292
Support Levels: 1.3250, 1.3241, 1.3231

GBPUSD :
HIGH 1.53689 LOW 1.53362 BID 1.53376 ASK 1.53385 CHANGE -0.1% TIME 08 : 40:54

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

Upwards scenario: Further bullish penetration might face next challenge at 1.5378 (R1). Break here would then be targeting 1.5396 (R2) en route towards to last resistance for today at 1.5415 (R3).Downwards scenario: On the other hand, retracement formation might occur below the immediate support level at 1.5319 (S1). Clearance here would enable our next intraday targets at 1.5301(S2) and 1.5281 (S3).

Resistance Levels: 1.5378, 1.5396, 1.5415
Support Levels: 1.5319, 1.5301, 1.5281

USDJPY :
HIGH 98.377 LOW 97.838 BID 98.350 ASK 98.353 CHANGE 0.06% TIME 08 : 40:55

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

Upwards scenario: An element of resistive measure could be found at 98.46 (R1). Clearance here would open way towards to higher target at 98.63 (R2) and any further rise would then be limited to last resistance at 98.80 (R3). Downwards scenario: Failure to establish corrective structure might lead to further downtrend evolvement later on today. Penetration below the support at 98.03 (S1) would suggest next intraday targets at 97.86 (S2) and 97.69 (S3) in perspective.

Resistance Levels: 98.46, 98.63, 98.80
Support Levels: 98.03, 97.86, 97.69

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

alayoua · August 7, 2013, 6:56am

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

GBP/USD fading after failed test of 1.5435 level; BOE report looms

The GBPUSD runs the risk of cascading lower yet again after it ran up to “correction resistance” and failed. The BOE’s inflation report and Mr. Carney’s appearance before Parliament are sure to create a sharp move. The GBP/USD cross rallied sharply on Dollar weakness following Friday’s jobs report in the US. The bullish tone carried over into Sunday night’s open and continued to stair-step higher until just after Britain’s industrial and manufacturing production numbers were released. Shortly after those numbers came out, the GBP/USD began to sell off – this time in a stair-step pattern in the opposite direction. So far, there is still a chance that the latest bit of selling is just a correction lower leading up to the next thrust higher. But, technicians say that a break below 1.5213 would put out any bullish flame.
https://support.fxcc.com/email/technical/07082013/

FOREX ECONOMIC CALENDAR :
2013-08-07 09:30 GMT | Bank of England Quarterly Inflation Report
2013-08-07 09:30 GMT | Mark Carney speaks at UK Parliament
2013-08-07 12:30 GMT | Canada. Building Permits (MoM) (Jun)
2013-08-07 19:00 GMT | US Consumer Credit Change (Jun)

FOREX NEWS :
2013-08-07 05:20 GMT | EUR/GBP up after Tuesday’s gains ahead of BOE inflation report
2013-08-07 04:26 GMT | AUD/USD downtrend dominant; targets at 0.8550, 0.8675 - ANZ
2013-08-07 03:20 GMT | GBP/USD fading after failed test of 1.5435 level; BOE report looms
2013-08-07 02:49 GMT | Risk of a dovish BoJ - RBS

EURUSD :
HIGH 1.33156 LOW 1.32926 BID 1.33025 ASK 1.33028 CHANGE -0.02% TIME 08 : 41:08

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD trapped to the consolidation mode on the hourly chart frame. Next resistive barrier is seen at 1.3315 (R1), break here is required to enable next attractive points at 1.3324 (R2) and 1.3332 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3292 (S1) might open way towards to lower targets at 1.3283 (S2) and 1.3273 (S3).

Resistance Levels: 1.3315, 1.3324, 1.3332
Support Levels: 1.3292, 1.3283, 1.3273

GBPUSD :
HIGH 1.53635 LOW 1.53173 BID 1.53347 ASK 1.53352 CHANGE -0.09% TIME 08 : 41:08

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

Upwards scenario: Possibility of uptrend evolvement is seen above the next resistance at 1.5363 (R1). Violation here would increase bullish pressure and suggest next intraday targets at 1.5387 (R2) and 1.5412 (R3). Downwards scenario: Our next support level is placed at 1.5317 (S1), right below the local minimum. Possible penetration below it might initiate bearish pressure and gradually push the price towards to our intraday targets at 1.5295 (S2) and 1.5273 (S3).

Resistance Levels: 1.5363, 1.5387, 1.5412
Support Levels: 1.5317, 1.5295, 1.5273

USDJPY :
HIGH 97.804 LOW 97.092 BID 97.226 ASK 97.230 CHANGE -0.52% TIME 08 : 41:09

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

Upwards scenario: Descending structure suggests possible correction ahead. Break above the resistance at 97.58 (R1) would clear the way towards to higher target at 97.83 (R2). Further price appreciation would face then final resistive measure at 98.07 (R3) Downwards scenario: Local low offers an important supportive measure at 97.08 (S1). A violation here might call for a run towards to initial targets at 96.84 (S2) and 96.58 (S3).

Resistance Levels: 97.58, 97.83, 98.07
Support Levels: 97.08, 96.84, 96.58

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

alayoua · August 8, 2013, 6:48am

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

BoJ to keep massive monetary easing

BOJ kept monetary policy steady by unanimous vote, retaining its plan to increase monetary base at annual pace of 60-70 trillion yen. The bank said that the CPI uptick from recent months will gradually accelerate as inflation expectations continue to rise on the whole. Monetary easing to continue until 2% inflation target reached, the BoJ said. On the economic outlook, the central bank said the Japanese economy is recoverying moderately but still faces many uncertainties.
https://support.fxcc.com/email/technical/08082013/

FOREX ECONOMIC CALENDAR :
2013-08-08 08:00 GMT | EMU ECB Monthly Report
2013-08-08 12:30 GMT | US Initial Jobless Claims
2013-08-08 12:30 GMT | Canada. New Housing Price Index (YoY)
2013-08-08 23:50 GMT | Japan. Tertiary Industry Index (MoM)

FOREX NEWS :
2013-08-08 05:02 GMT | EUR/USD resting below fresh 7-week highs at 1.3350
2013-08-08 04:50 GMT | AUD/NZD takes off to reach 1.1397 intraday highs
2013-08-08 04:50 GMT | GBP/USD consolidating gains above 1.55
2013-08-08 04:20 GMT | USD/CHF pocketing 0.13% gains on steady climb

EURUSD
HIGH 1.33506 LOW 1.33281 BID 1.33485 ASK 1.33489 CHANGE 0.1% TIME 08 : 35:44

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Fresh high offers a key resistive barrier at 1.3346 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3358 (R2) and 1.3370 (R3) in potential. Downwards scenario: On the other hand, depreciation below the technically important support level at 1.3327 (S1) might lead to the correction formation on the short-term perspective. Possible targets lies at 1.3314 (S2) and 1.3302 (S3).

Resistance Levels: 1.3346, 1.3358, 1.3370
Support Levels: 1.3327, 1.3314, 1.3302

GBPUSD :
HIGH 1.55067 LOW 1.54849 BID 1.55067 ASK 1.55071 CHANGE 0.13% TIME 08 : 35:45

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

Upwards scenario: After the strong appreciation yesterday we expect to see some consolidation ahead. Though clearance of next resistance level at 1.5531 (R1) might enable bullish pressure and open route towards to our next targets at 1.5557 (R2) and 1.5584 (R3). Downwards scenario: On the downside, support level at 1.5478 (S1) limits possible retracement expansion. Break here is required to enable lower target at 1.5450 (S2) en route to final aim at 1.5424 (S3).

Resistance Levels: 1.5531, 1.5557, 1.5584
Support Levels: 1.5478, 1.5450, 1.5424

USDJPY :
HIGH 96.935 LOW 96.322 BID 96.415 ASK 96.416 CHANGE 0.09% TIME 08 : 35:46

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

Upwards scenario: Possible buying interest might arise above the resistance at 96.94 (R1). Clearance here would suggest next intraday target at 97.18 (R2) and if the price holds its momentum we can expect an exposure of 97.42 (R3). Downwards scenario: On the other hand, further downtrend development may encounter supportive measure at 96.30 (S1). Penetration through this level would targeting then supportive means at 96.08 (S2) and 95.84 (S3) in potential.

Resistance Levels: 96.94, 97.18, 97.42
Support Levels: 96.30, 96.08, 95.84

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