Daily Forex Market by FXCC

alayoua · May 16, 2012, 4:39am

[B]Daily Forex Market by FXCC 16Mai2012

The euro continues to plunge

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

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

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

EURUSD : 1.27133 / 1.27136
DAILY WEEKLY MONTHLY

1.253 | 1.262 | 1.268
1.282 | 1.292 | 1.297

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

MARKET ANALYSIS - Intraday Analysis

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

GBPUSD : 1.59630 / 1.59640
DAILY WEEKLY MONTHLY

1.581 | 1.589 | 1.594
1.607 | 1.615 | 1.62

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

MARKET ANALYSIS - Intraday Analysis

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

USDJPY : 80.377 / 80.382
DAILY WEEKLY MONTHLY

79.453 | 79.634 | 79.973
80.493 | 80.674 | 81.013

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

MARKET ANALYSIS - Intraday Analysis

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

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

alayoua · May 17, 2012, 4:18am

[B]Daily Forex Market by FXCC 17Mai2012

Negative Sentiment and Risk Aversion Continue

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

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

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

EURUSD : 1.27432 / 1.27436
DAILY WEEKLY MONTHLY

1.261 | 1.264 | 1.268
1.276 | 1.280 | 1.284

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

MARKET ANALYSIS - Intraday Analysis

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

GBPUSD : 1.59154 / 1.59162
DAILY WEEKLY MONTHLY

1.577 | 1.583 | 1.587
1.597 | 1.603 | 1.607

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

MARKET ANALYSIS - Intraday Analysis

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

USDJPY : 80.305 / 80.309
DAILY WEEKLY MONTHLY

79.847 | 80.025 | 80.195
80.543 | 80.721 | 80.891

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

MARKET ANALYSIS - Intraday Analysis

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

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

alayoua · May 18, 2012, 5:23am

[B]Daily Forex Market by FXCC 18Mai2012

Asian Markets Tumble on worries over Greece

Asian stocks are getting hammered in this morning’s session as they react to Greece’s debt downgrade and the Spanish banks’ downgrade by rating agencies Fitch and Moody’s. The euro has also given up all of its gains from Thursday and is lower by 0.20% in the morning trade.

On the economic front, we have the Producer Prices from Germany, which are expected to decline to 0.30% and could be slightly negative for the euro. There are no major data releases from the U.S. Today’s market fluctuations will be in response to Greece, Spain and the EU, with little on the eco front worldwide, the press and media will be digging for news and events. Watch for rumors and misquotes on days like today.
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UPCOMING EVENTS :
2012-05-18 12:30 GMT | CAD Core CPI (MoM)
2012-05-18 12:30 GMT | CAD CPI (MoM)
2012-05-18 12:30 GMT | CAD CPI (YoY)
2012-05-18 19:00 GMT | ARS Argentinian Economic Activity (YoY)

FOREX NEWS :
2012-05-18 04:23 GMT | GBP/USD could fall to 1.57 by early London - 2ndSkies
2012-05-18 04:19 GMT | EUR/USD below 1.2700 ahead of London, G-8 meeting and options expirations
2012-05-18 03:31 GMT | AUD/NZD regains the upside
2012-05-18 02:37 GMT | GBP/JPY hovering above 125.00 after sharp drop

EURUSD : 1.26623 / 1.26627
DAILY WEEKLY MONTHLY

1.258 | 1.262 | 1.266
1.274 | 1.278 | 1.2823

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

MARKET ANALYSIS - Intraday Analysis

The euro continues neglecting the oversold reading appearing on daily studies due to the strong bearish trend on weekly studies. It is currently re-attacking yesterday’s low around 1.2680 and a break of which will weaken 1.2625 support and may extended towards 1.2530 areas. The bearish picture remains valid for the rest of the day as there is no sign of starting a corrective wave. Key support at 1.2500 and key resistance at 1.2915.

GBPUSD : 1.57533 / 1.57539
DAILY WEEKLY MONTHLY

1.558 | 1.568 | 1.573
1.588 | 1.598 | 1.603

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

MARKET ANALYSIS - Intraday Analysis

Sterling has entered free-fall territory after achieving a sustained breakout below the uptrend line that carried the movements from 1.5230.Price is being controlled by fundamentals and the strength of the USD. Stochastic are negative which encourages us to keep our bearish scenario intact for the rest of the day while a break below 1.5810 will accelerate. The trading range for today is among key support at 1.5730 and key resistance at 1.6165.

USDJPY : 79.218 / 79.219
DAILY WEEKLY MONTHLY

78.917 | 78.412 | 77.683
80.151 | 80.880 | 81.385

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

MARKET ANALYSIS - Intraday Analysis

The Japanese yen didn’t show any big move since overnight or during the Asian session. Technicals show a bullish scenario for the rest of the day; reaching the 80.50 zones will confirm and accelerate and also will assist RSI to clear the pivotal momentum resistance at the point of 50.00. The trading range for today is among key support at 78.80 and key resistance now at 81.75.

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

alayoua · May 30, 2012, 6:18am

[B]Daily Forex Market by FXCC 30Mai2012

Euro breaks below 1.25 on Spanish downgrade

Equities traded higher today, with US and Canadian markets rallying on news that China might undertake meaningful fiscal stimulus. While industrial metals stocks rallied with the base metals complex, gold stocks fell by 2.4% and gold fell 1.7%. Industrial companies led the way in the US, with the Industrial Engineering subsector appreciating 1.9% while the S&P 500 was up by 0.87%. In short, the ‘China trade’ was in full swing today at least as far as equity markets in Canada and the US was concerned.

While stocks were up, the US dollar was not down: the US dollar index is now trading at its highest level since last September. The Euro broke below the 1.25 EURUSD level mid-day and stayed there for most of the afternoon before rallying back to the 1.25 level at the close. EURUSD continues to make new intraday lows for 2012.
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UPCOMING EVENTS :
2012-05-30 08:30 GMT | UK - Consumer Credit (Apr)
2012-05-30 08:30 GMT | UK - Mortgage Approvals (Apr)
2012-05-30 09:00 GMT | European Monetary Union - Consumer Confidence
2012-05-30 14:00 GMT | US - Pending Home Sales (MoM) (Apr)

FOREX NEWS :
2012-05-30 01:39 GMT | Australia: s.a. Retail Sales fall 0.2% in April
2012-05-30 01:33 GMT | Australia Retail Sales s.a. (MoM) -0.2% in Apr
2012-05-30 01:01 GMT | EUR/USD threatening to break lower
2012-05-30 00:06 GMT | USD/JPY sits around 79.50 amid BoJ headlines

EURUSD : 1.24581 / 1.24586
DAILY WEEKLY MONTHLY

1.2620 | 1.2590 | 1.2539
1.2483 | 1.2458 | 1.2386

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

MARKET ANALYSIS - Intraday Analysis

The EUR trading pattern appears to be repeating itself day after day. The middle chart suggests that EUR rallies during the Asian session and into the early European session, but then fails and trends lower to close both the European and North American sessions lower than the open. This suggest some buying in, but a shift In terms of technical levels, supports are seen at 1.2495/83 and then at 1.2386. On the other hand, resistance levels are seen at the 10DMA line at 1.2539, 1.2590 and then at 1.2620. The value of the RSI indicator is negative and steady; MACD is negative and holding, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.

GBPUSD : 1.55832 / 1.55844
DAILY WEEKLY MONTHLY

1.5805 | 1.5746 | 1.5676
1.5605 | 1.5553 | 1.5497

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

MARKET ANALYSIS - Intraday Analysis

The GBP will target the 1.5805 level, low with a violation allowing for more weakness towards the 1.5642/53 levels. A breach of this if seen will aim at the 1.5497 level. RSI is bearish and pointing lower supporting this view. The alternative scenario is for the pair to halt its weakness and then return above its trendline. This will target the 1.6180. On the whole, the pair continues to hold on to its downside pressure having violated its rising trendline.

USDJPY : 79.333 / 79.337
DAILY WEEKLY MONTHLY

80.96 | 80.57 | 80.00
79.32 | 78.86 | 78.33

SUMMARY : UP
TREND : Upward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The market is making lower highs, and higher lows, reflecting a slowing of volatility. The RSI has resorted to the 40-60 range, reflecting consolidation momentum. Also the moving averages are converging together suggesting that the market has been clueless in which direction to take in the 1H time-frame. Giving us the classic congestion breakout, which doesn’t always translate into a strong directional clue, but in the short-term, we can be seeing some growth of volatility after the convergence and retest of consolidation highs or low. To the topside, the 80-80.10 area is the very short-term resistance, while the 79.00 area is the support. We are trading in the middle near 79.50.

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

alayoua · May 31, 2012, 5:10am

[B]Daily Forex Market by FXCC 31Mai2012

Spain becoming a major financial problem

News out of Europe was highly confusing. One day after unnamed European officials were quoted in the financial press officially denying the possibility that collective European funds would be used to bail out Spanish banks, the European Commission publicly “envisaged” the possibility of a European banking union and direct capital injections into troubled European lenders. Rather than giving markets cause to believe that rescue is imminent, the entire episode points to the reality, seriousness, and immediacy of the problems confronting the European economy – something which markets shrugged off during Q1 2012. Markets may have spent most of the first part of this year weighing whether US jobs were growing at a pace of 200k or 250k per month and whether the S&P 500 should trade above or below the 1400 level, but the focus is now on more ominous issues: the financial crisis in Spain and the cooling of the economy in China, with a healthy dose of concern that a left-wing Greek government might hit the ‘euro exit’ panic button.

Unsurprisingly, on a day during which cash was king, the USD outperformed. EURUSD closed at 1.237 after convincingly breaking through the 1.25 level yesterday. The commodity currencies followed suit, with CAD losing ground and USDCAD closing the day at 1.03.
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UPCOMING EVENTS :
2012-05-31 09:00 | European Monetary Union - Consumer Price Index
2012-05-31 12:15 | US - ADP Employment Change
2012-05-31 12:30 | CAD - Current Account
2012-05-3112:30 | US - Gross Domestic Product Annualized

FOREX NEWS :
2012-05-31 06:20 GMT | EUR/USD retreats from highs, failed to breach 1.2400
2012-05-31 06:19 GMT | Germany: Retail Sales rise 0.6% in April
2012-05-31 06:13 GMT | Asian markets followed western fall
2012-05-31 06:03 GMT | Germany Apr Retail Sales (YoY) falls 3.8%

EURUSD : 1.23942 / 1.23946
DAILY WEEKLY MONTHLY

1.2573 | 1.2528 | 1.2449
1.2325 | 1.2280 | 1.2201

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

MARKET ANALYSIS - Intraday Analysis

The next major EUR support level is 1.2152, followed by the 2010 low of 1.1877. The market is notably one sided and shorts are at extreme levels, opening up the risk of short covering on any hint of an official response; however the bias remains to the downside, and accordingly we expect a temporary test of 1.2152. Technical indicators remain bearish, with major signals still in sell territory even as RSI enters oversold.

GBPUSD : 1.54878 / 1.54888
DAILY WEEKLY MONTHLY

1.5743 | 1.5684 | 1.5579
1.5415 | 1.5356 | 1.5251

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

MARKET ANALYSIS - Intraday Analysis

Technicals are bearish, with major signals still in sell territory; next level is 1.5235. The near‐term risk for GBP is a test down through the psychological 1.55, followed by a move to the ytd low of 1.5235. However, once risk aversion passes, the outlook for GBPUSD is relatively positive, partially on the flows generated from its Triple‐A rating. Supports are seen at 1.5531/17 and then at 1.5415. On the other hand, resistance levels are seen at the 10-DMA line at 1.5713/35 and then at 1.5850.

USDJPY 78.837 / 78.839
DAILY WEEKLY MONTHLY

80.04 | 79.77 | 79.25
78.47 | 78.19 | 77.68

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

MARKET ANALYSIS - Intraday Analysis

As risk aversion rises on the back of an escalation in the European crisis, USDJPY continues to trend lower, testing the psychologically important 79.00 level. Technicals are bearish but are beginning to become mixed, but trend is lower. Supports eyed at 78.56, which is the 200-DMA line. On the other hand, resistance levels are seen at 79.16/36 and then at the 21-DMA line at 79.72.

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

alayoua · June 1, 2012, 5:08am

[B]Daily Forex Market by FXCC 01Jun2012

Spain contradicts the ECB, the EU, and the IMF

Equity markets in North America were mixed today with US equities flat while Canadian equities came in moderately positively (+0.72%). The catalyst in Canada was strong bank earnings: Canadian financial companies posted strong earnings over the past week and the sector rebounded accordingly today. Canadian financials were up by 1.55% (banks by 1.9%) while US financials were up by a more modest 0.85% (banks by 1.4%). Oil and Gas stocks held up moderately well in Canada (+0.11%) considering that WTI for delivery in July sold off by 1.4% and is currently trading at US$86.58/bbl.

Europe is clearly taking center stage at the moment, with headline like the FT website’s banner “Spain Reveals €100bn Capital Flight” garnering deserved attention (the details of the Banco De Espana study cited by the FT are slightly less bad: the capital flight occurred during Q1. But that leaves open the question ‘how much capital fled in Q2?’). With Europe gaining so much media space, we thought it might be worth turning the reader’s attention to data released in the US today which might have been overlooked – which were unfortunately rather bleak.
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UPCOMING EVENTS :
2012-06-01 07:58 GMT | EU - Purchasing Manager Index Manufacturing
2012-06-01 08:28 GMT | UK - Purchasing Manager Index Manufacturing
2012-06-01 09:00 GMT | EU - Unemployment Rate
2012-06-01 12:30 GMT | US - Nonfarm Payrolls

FOREX NEWS :
2012-06-01 05:49 GMT | EUR/USD flat, eyes on EU PMI
2012-06-01 04:43 GMT | GBP/USD inches back to down, focus on BoE
2012-06-01 04:27 GMT | EUR/USD below 1.2350 ahead of Irish vote count
2012-06-01 03:58 GMT | No longer favouring USD/JPY longs - Standard Chartered

EURUSD : 1.23517 / 1.23521
DAILY WEEKLY MONTHLY

1.2513 | 1.2471 | 1.2407
1.2301 | 1.2259 | 1.2195

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

MARKET ANALYSIS - Intraday Analysis

EUR is oversold (RSI = 23) and the market is extremely one sided, leaving the currency vulnerable to short covering. Still the downward trend is strong (not to mention expensive to fight) and accordingly trading with the trend is likely the only near‐term alternative. Technical indicators are bearish, major signals still in sell territory and downward trend strong. Ignore RSI. Supports are seen at the 21-DMA lower Bollinger level at 1.2305 and then at 1.2190. On the other hand, resistance levels are seen at 1.2460, 1.2572 which is the 10-DMA line.

GBPUSD : 1.53864 / 1.53873
DAILY WEEKLY MONTHLY

1.5647 | 1.5587 | 1.5481
1.5315 | 1.5255 | 1.5149

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

MARKET ANALYSIS - Intraday Analysis

Signals continue to be bearish, major signals in sell territory; a close above 1.5641 would be a warning. Supports are seen at 1.5419/15 and then at 1.5327. On the other hand, resistance levels are seen at 1.5637 and then at 1.5671 which is the 10-DMA line.

USDJPY : 78.449 / 78.453
DAILY WEEKLY MONTHLY

79.509 | 79.207 | 78.810
78.113 | 77.811 | 77.415

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

MARKET ANALYSIS - Intraday Analysis

USDJPY continues to trend lower, data was mixed and even with USDJPY below 79.00, the BoJ and MoF appear to only be watching; however support at the 200‐day 78.63 looms. Technicals all read bearish, major signals in sell territory and strong downward trend. The USD trended lower throughout the session and fell below the key 200-DMA line at 78.63. In terms of technical levels, supports are seen at 78.30/18, while resistance levels are noted at 79.13, then at the 10-DMA line at .79.38

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

alayoua · June 4, 2012, 6:10am

[B]Daily Forex Market by FXCC 04Jun2012

Asian markets fall on worries of the EU

In the week ahead, the global markets will continue to gyrate between fear of Greece’s fallout from the Euro zone and hopes of austerity measures that may revive the global markets. The European Union is targeting July 9 as the start date for its permanent eurozone rescue fund, the €500 bn (USD620 bn) European Stability Mechanism. Parliaments across the 17-nation currency union must ratify the fund before it becomes available to counter the financial crisis spawned in Greece.

Until it receives 90% of its expected capital allotment, officials must turn to the temporary European Financial Stability Facility, a €440 bn fund with €240 bn available. Even Italy might be seen pressurizing the ECB to print more Euros so that Italy can also be saved. So we think these measures will be following suit that will eventually decide the fate of the markets in the times to come.
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https://support.fxcc.com/email/technical/04062012/

UPCOMING EVENTS :
2012-06-04 07:00 GMT : UK - Halifax House Prices
2012-06-04 08:30 GMT : EMU - Sentix Investor Confidence
2012-06-04 09:00 GMT : EMU - Producer Price Index
2012-06-04 14:00 GMT : US - Factory Orders

FOREX NEWS :
2012-06-04 01:45 GMT : US Dollar rules as HK tracks risk off sentiment
2012-06-04 01:32 GMT : Australia May ANZ Job Advertisements -2.4%
2012-06-04 00:16 GMT : USD/JPY spikes; Threat of BoJ intervention
2012-06-03 23:50 GMT : Japan: Monetary Base (YoY) (May): 2.4%

EURUSD : 1.24134 / 1.24140
DAILY WEEKLY MONTHLY

1.2496 | 1.2470 | 1.2437
1.2378 | 1.2352 | 1.2319

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

MARKET ANALYSIS - Intraday Analysis

The EURUSD has dropped to its lowest level since July 2010. Interestingly, the low today is within pips of the 2008 (October) low. The sharp moderation warns that the EURUSD could consolidate or bounce modestly in the coming days, but the overall trend remains clear in our opinion and we favor continued declines until sentiment sees a more significant shift. The next support isn’t until 12150. Resistance is now around 125.00 although the breakdown level (January low) of 126.22 (and this week’s high) would be ideal to short into if reached.

GBPUSD : 1.53699 / 1.53710
DAILY WEEKLY MONTHLY

1.5418 | 1.5397 | 1.5383
1.5348 | 1.5327 | 1.5313

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

MARKET ANALYSIS - Intraday Analysis

The market is heavily oversold, so some kind of a recovery may be expected early this week. If such a recovery indeed takes place, we may see gains to 1.5680 levels. Such a rally will likely be favored as selling opportunities by the big players, because the daily trend is down. On the downside, firm break below 1.5260/30 may bring a panic sell-off all the way down to 1.50000. There was no bounce of course (the GBPUSD didn’t even reach its 10 day average) and the GBPUSD took out nearly all of 2012’s gains in May and has reached the trendline that extends off of the 2009 and 2010 lows so we could get a bounce from these levels. If so, then resistance is 15530. A bounce into there would be a candidate to short against 15720.

USDJPY 78.182 / 78.183
DAILY WEEKLY MONTHLY

78.715 | 78.555 | 78.350
78.005 | 77.805 | 77.615

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

MARKET ANALYSIS - Intraday Analysis

The USDJPY continues to slip and has reached the much discussed 7830 (resistance throughout late 2011). There is nothing to suggest that a low is in place right now and the next level of support is 7780. I’d be willing to try longs on a test and rebound from that level with an initial stop (plan on moving it up) below 7600. The chart shows trending conditions are quite negative here. The prices have not overcome the 83.80 level yet on a sustained basis and remain below the declining 100-week moving average. So, the main focus should be considered on the downside. Look for a possible move down from the 2007 top and if that’s the case, the current pullback should hold above the 76.00 level. A subsequent move above 83.80 will turn the hourly chart quite bullish.

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

alayoua · June 5, 2012, 5:44am

[B]Daily Forex Market by FXCC 05Jun2012

G7 calls for an emergency conference call to discuss the EU crisis

The Queens Jubilee finds UK markets closed for a four day holiday, rumors of a master plan for Europe and significant central bank risk with ECB, BoE, BoC and testimony by Chair Bernanke later this week are the themes that are driving markets. Friday’s rally in gold speaks volumes about how the weak US employment report has triggered expectations for the Fed to announce QE3. On Monday the USD weakened as the euro climbed. It was a day thin on eco data and the news flow was light also. The main events were Spain, Italy and Greece. S&P made book on a Greek exit them a 1-3 chance of leaving the euro.

The G7 Finance Ministers have agreed to hold an emergency conference call to discuss the eurozone crisis, in particular Spain. The EU leadership seems to be drawing lines in the sand, as Merkel refuses to accept eurobonds or joint debt without fiscal control. There will be a battle brewing here. In a surprise move a director from the PBOC said that China would assist in buying euro debt to help ease the crisis.
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https://support.fxcc.com/email/technical/05062012/

UPCOMING EVENTS :
2012-06-05 07:58 GMT : EMU - Purchasing Manager Index Services
2012-06-05 09:00 GMT : EMU - Retail Sales
2012-06-05 10:00 GMT : Germany - Factory Orders
2012-06-05 14:00 GMT : US - ISM Non-Manufacturing

FOREX NEWS :
2012-06-05 04:37 GMT : RBA slashes rates by 25 basis points to 3.50%
2012-06-05 02:30 GMT : China HSBC China Services PMI 54.7 in May
2012-06-05 01:31 GMT : Australia Current Account Balance -14.9B in 1Q
2012-06-05 01:25 GMT : USD/JPY dips towards 78.00 well supported

EURUSD : 1.25226 / 1.25228
DAILY WEEKLY MONTHLY

1.2719 | 1.2630 | 1.2576
1.2433 | 1.2344 | 1.2290

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

MARKET ANALYSIS - Intraday Analysis

Signals are mixed, struggling to make a bullish turn, significant resistance lies at 1.2500. EUR/USD It has an intraday support at 1.2410 and resistance at 1.2530. Daily indicators are all showing red/sell. MA short terms read buy but longer term give sell signals. RSI and Stochastic as well as MACD are sell with StochRSI showing overbought. Technicals are all giving mixed signals.

GBPUSD : 1.53946 / 1.53955
DAILY WEEKLY MONTHLY

1.5478 | 1.5447 | 1.5419
1.5360 | 1.5329 | 1.5301

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

MARKET ANALYSIS - Intraday Analysis

Technicals remain bearish ‐ RSI off sub‐20 low suggests potential for pause; Jan 2012 low is at 1.5235. GBP/USD can give a rise up to 1.5405 thus traders can buy on dips but overall selling on rise is recommended for the day. It has a good support at 1.5250 and resistance at 1.5465. Expected intraday range is 1.5260 - 1.5405.

USDJPY : 78.423 / 78.427
DAILY WEEKLY MONTHLY

78.950 | 78.682 | 78.505
78.065 | 77.803 | 77.625

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

MARKET ANALYSIS - Intraday Analysis

Watch for the USDJPY to grind even lower toward its last support areas just above 78.00, but important support is already slightly above these levels at the 200-day moving average around 78.60 and the chart is also showing so-called “triple divergence”, in which a third new low has been set while a momentum indicator like the MACD continues to creep higher at each new low. This suggests a consolidation could be in order in the nearest term.

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

alayoua · June 7, 2012, 5:35am

[B]Daily Forex Market by FXCC 07Jun2012

US Fed Beige Book shows “moderate” recovery

Globally, US markets and major European markets closed sharply higher amid optimism about further stimulus from the world’s central banks. The optimism came from the European Central Bank’s (ECB) decision to leave interest rates unchanged as expected and following the Reserve Bank of Australia’s interest rate cut on Tuesday. Further, ECB president also stated that the central bank stands ready to act if the economic situation continues to worsen. The sentiments were boosted further following the release of the Fed’s Beige Book report, which said overall economic activity expanded at a moderate pace during the reporting period from early April to late May.

Yesterday, the US Fed presented the Beige Book report, which reviews the overall US economy the report showed that the U.S. economy has continued to grow at a “moderate” pace over the past two months, with only one district reporting slower growth, the Federal Reserve said Wednesday in its latest reading of economic conditions. The Fed has used the phrase “moderate” in one way or another to describe the economy in every Beige Book report since last fall.
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https://support.fxcc.com/email/technical/07062012/

UPCOMING EVENTS :
2012-06-07 08:28 GMT : UK - Purchasing Manager Index Services
2012-06-07 11:00 GMT : UK - BoE Interest Rate Decision
2012-06-07 11:00 GMT : US - Initial Jobless Claims
2012-06-07 14:00 GMT : US - Fed’s Bernanke testifies

FOREX NEWS :
2012-06-07 04:13 GMT : EUR/USD quiet below 1.2600 ahead FED Bernanke testifies
2012-06-07 03:49 GMT : GBP/USD consolidating below 1.55 ahead of MPC
2012-06-07 02:04 GMT : Aussie powers up after surprising jobs data
2012-06-07 01:31 GMT : Australia May Employment Change s.a. 38.9K

EURUSD : 1.25638 / 1.25642
DAILY WEEKLY MONTHLY

1.2760 | 1.2673 | 1.2618
1.2475 | 1.2387 | 1.2332

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

MARKET ANALYSIS - Intraday Analysis

The euro has dropped from its short term 76.4 Fib level at 1.2546 and looking a bit overstretched short term but medium-term charts have turned bullish. Buyers will hold longs unless a break below 1.2400 occurs. Only then will there be another assault on the downside with 1.2350 once more coming under pressure. There is quite a lot of resistance on the topside at 1.2523/25 to 1.2545 but the medium-term charts are poised for a break above 1.2550 and move into a market rally looking at 1.2620.

GBPUSD : 1.54741 / 1.54750
DAILY WEEKLY MONTHLY

1.5574 | 1.5528 | 1.5495
1.5452 | 1.5425 | 1.5365

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

MARKET ANALYSIS - Intraday Analysis

At present the fib level is at 1.5438 and looking a little overextended on the topside of the 60-minute charts. Therefore look for the market to find a short-term top here. However, if it fails we may see 1.5460 through to 1.5495 as the next challenge. Medium-term charts remain neutral-to-oversold.

USDJPY : 79.402 / 79.407
DAILY WEEKLY MONTHLY

80.189 | 79.727 | 79.470
78.959 | 78.665 | 78.344

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

MARKET ANALYSIS - Intraday Analysis

The pair is aiming to 79.470. Once this level is broken the pair will rise to 79.707. Currently the pair is at 0.79.35 a breakdown here, look for the retracement to the 0.382 Fibonacci at 78.66. Our upside target is the -0.270 Fibonacci extension at 79.72 but look for strong resistance at 79.707

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

alayoua · June 8, 2012, 5:32am

[B]Daily Forex Market by FXCC 08Jun2012

This has been a busy week for central Banks around the Globe

The US markets ended mixed on Thursday after seeing early strength. The initial strength on Wall Street was partly on account of a positive reaction to news of a surprise interest rate cut by China’s central bank. The markets also benefited from the release of a report showing a decline in initial jobless claims in the week ended June 2. However, stocks pulled back well off their highs as Federal Reserve Chairman Ben Bernanke began to testify before the Joint Economic Committee in Washington. While the Dow increased by 46.2 points or 0.4% to 12,461.0, the Nasdaq fell 13.7 points or 0.5% to 2,831.0 and the S&P 500 edged down 0.1 points to 1,315.0 Bernanke says Federal Reserve stands ready to act to protect the financial system and economy in the event that financial stresses from the European crisis escalate. However, the testimony to congress didn’t contain explicit cues about whether further easing is coming soon.

Spain sells € 2.07 bn of bonds; tops target Spain saw borrowing costs rose (at an average yield 6.04% up from 5.74% in previous sale) in a closely-watched 10-yr debt auction, selling a total of € 2.07bn. Spain’s Treasury had aimed to sell a total of € 1 bn to €2 bn of debt. Initial weekly U.S. jobless claims fell to 377,000 The no. of initial applicants filing for unemployment benefits declined in the week ended June 2, but jobless claims remained at a level consistent with mediocre hiring trends. First-time claims fell by 12,000 to 377K from a revised claim of 389K. China’s PBOC cuts interest rates by 25bps China’s central bank lowered its benchmark loan and deposit rates by 25bps each to 6.31% and 3.25% respectively and moved to allow rates to float more freely, in a bid to support economic growth.
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https://support.fxcc.com/email/technical/08062012/

UPCOMING EVENTS :
2012-06-08 08:30 GMT | UK - Producer Price Index
2012-06-08 12:15 GMT | CANADA - Housing Starts
2012-06-08 12:30 GMT | US - Trade Balance
2012-06-08 12:30 GMT | CANADA - Unemployment Rate

FOREX NEWS :
2012-06-08 02:41 GMT | EUR/USD at session lows as risk tolerance contracts
2012-06-08 01:39 GMT | AUD/USD breaks 0.9850 after Aus trade balance
2012-06-08 01:36 GMT | Australia: Trade deficit at $203m in April
2012-06-08 00:00 GMT | Japan: Economy grew stronger than expected in Q1

EURUSD : 1.24950 / 1.24956
DAILY WEEKLY MONTHLY

1.2707 | 1.2667 | 1.2594
1.2481 | 1.2441 | 1.2368

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

MARKET ANALYSIS - Intraday Analysis

The pair has retreated from the 1.2620 area. The 1.2540 level will be a key pivot, below the trendline near 1.25. A break below 1.25 will suggest completion of a consolidation pattern, which could be seen as a flag. The break below can open up June’s low in the 1.2285-1.23 area. Failure to break below 1.2540 followed by a push back above the pre-Bernanke high at 1.2620 opens up the 1.2820 level. This is the 200-SMA in the 4H chart and also a resistance pivot from May 22.

GBPUSD : 1.54644 / 1.54653
DAILY WEEKLY MONTHLY

1.5753 | 1.5677 | 1.5583
1.5413 | 1.5337 | 1.5243

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

MARKET ANALYSIS - Intraday Analysis

In terms of technical levels, supports are seen at 1.5430/16 and then at 1.5375. On the other hand, resistance levels are seen at 1.5608/37 and then at 1.5664. The pair continued consolidating around 76.4% Fibonacci while Stochastic remained positive suggesting further upside actions. A break above 1.5515 will confirm and accelerate the bullish scenario mainly targeting 61.8% level. Only a break below 1.5360 will negate and give a reason for pause.

USDJPY : 79.190 / 79.193
DAILY WEEKLY MONTHLY

80.220 | 80.000 | 79.640
79.080 | 78.875 | 78.520

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

MARKET ANALYSIS - Intraday Analysis

The trading range for today is among key support at 77.60 and key resistance now at 80.00. The general trend over short-term basis is to the upside targeting 81.45 as far as areas of 77.20 remain intact. The pair has successfully broken out of the falling channel since March and there is a possibility of a reversal in trend taking shape with more upside to come. It is still a little early to be sure but if the price action today closes above the channel then this could constitute a valid break-out and indicate a continuation of the rally higher, with 50 and 100 day MA’s at 80.15 targeted initially and possibly 80.75 thereafter.

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

alayoua · June 12, 2012, 3:35am

[B]Daily Market Review by FXCC June 12 2012

Risk Aversion returns as Spanish elation subsides

US stock advanced, following the biggest weekly rally in the Standard & Poor’s 500 Index this year, as investors speculated that the bailout of Spain’s banks will help ease the euro area’s debt crisis.European stocks surged to a four- week high after Spain sought as much as €100bn to save its banking system and Chinese export data topped forecasts. The €100bn rescue for Spain’s banks moved Italy to the frontline of Europe’s debt crisis as an initial rally in the country’s bonds fizzled on concern it may be the next to succumb. Investors holding bonds issued by Spain and its banks will probably rank behind official creditors in the queue for payment after the nation asked for a bailout of as much as €100 bn.

Asian equities extended the global rally after Chinese data showed exports grew last month at more than double the pace economists estimated. Overseas shipments climbed 15.3% from a year earlier, the customs bureau said yesterday, exceeding all 29 estimates. Japanese stocks rose, with the benchmark Nikkei 225 Stock Average (NKY) capping the biggest gain since April, on speculation a bailout for Spanish banks will ease Europe’s debt crisis and after China’s trade grew more than expected.
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https://support.fxcc.com/email/technical/12062012/

UPCOMING EVENTS :
2012-06-12 08:30 GMT | UK - Industrial Production
2012-06-12 08:30 GMT | UK - Manufacturing Production
2012-06-12 12:30 GMT | US - Import & Export Price Index
2012-06-12 18:00 GMT | US - Monthly Budget Statement

FOREX NEWS :
2012-06-12 04:04 GMT | GBP/USD consolidates below 1.5500
2012-06-12 03:39 GMT | USD/JPY spikes to new daily highs
2012-06-12 03:39 GMT | EUR/AUD glued around the 1.2600 line
2012-06-12 01:39 GMT | Australia: Business Confidence declines sharply in May

EURUSD : 1.24927 / 1.24933
DAILY WEEKLY MONTHLY

1.2811 | 1.2730 | 1.2613
1.2415 | 1.2334 | 1.2217

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

MARKET ANALYSIS - Intraday Analysis

Technical’s are mixed, MACD in buy territory, but most others in sell; a close above the 21‐day MA at 1.2584 would be bullish. However EUR risk is increasingly binary. Supports are seen at the 10-DMA line at 1.2488 and then at 1.2435. On the other hand, resistance levels are seen at 1.2554, 1.2690 and then at 1.2820.

GBPUSD : 1.54905 / 1.54915
DAILY WEEKLY MONTHLY

1.5685 | 1.5634 | 1.5563
1.5441 | 1.5390 | 1.5319

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

MARKET ANALYSIS - Intraday Analysis

Technical’s remain mixed but biased to downside, today’s rally faded quickly and failed to break above last week’s high of 1.5601. Support lies at the recent low of 1.5269, a retest is likely. Supports are seen at the 10-DMA line at 1.5467 and then at 1.5375. On the other hand, resistance levels are seen at 1.5538 and then at 1.5601.

USDJPY : 79.491 / 79.495
DAILY WEEKLY MONTHLY

80.240 | 79.962 | 79.715
79.190 | 78.910 | 78.665

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

MARKET ANALYSIS - Intraday Analysis

JPY is currently trading at 79.29 levels. After falling against US dollar for last four sessions, Yen is again strengthening against its peers, as the market is expecting Italy to be the next country on the forefront of the debt crisis after Spain. This boosted the demand for the safe haven currency. Overall technical’s are reading bearish ‐ the 50‐day has crossed below the 100‐day (80.20 and 80.21, respectively) generating a medium term sell signal; while most other indicators are in sell territory

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

alayoua · June 13, 2012, 4:23am

[B]Daily Market Review by FXCC June 13 2012

More Downgrades by Fitch as Spanish Bonds Soar

US stocks rose on speculation policy makers will do more to stimulate the economy. Commodities dropped for a fourth day and Spanish bonds fell. The advance in US stocks indicated the S&P 500 will rebound following last few days’ biggest decline in more than a week. The Fed is scheduled to meet next week and announce its rate decision on June 20. European stocks rose for the first time in three days on speculation that the Federal Reserve will opt for more stimuli and as Lafarge SA targeted cost savings. Italy plans to auction at least €9.5bn of debt this week, while an election on June 17 may determine whether Greece remains in the euro.

Spanish bonds slumped for a second day after a European rescue of its banks was announced and Fitch Ratings said the government will miss its budget-deficit targets, casting doubt on Prime Minister Mariano Rajoy’s plan to stabilize the economy. Japanese stocks fell as surging bond yields stoked concern a bailout of Spain’s banks won’t ease Europe’s debt crisis. Shares pared losses as the yen halted gains after the International Monetary Fund said the currency is overvalued and urged further monetary easing.
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https://support.fxcc.com/email/technical/13062012/

UPCOMING EVENTS :
2012-06-13 09:00 GMT | EMU - Industrial Production
2012-06-13 12:30 GMT | US - Producer Price Index
2012-06-13 12:30 GMT | US - Retail Sales
2012-06-13 12:30 GMT | US - Business Inventories

FOREX NEWS :
2012-06-13 04:28 GMT | EUR/USD a tricky day below 1.2500
2012-06-13 04:13 GMT | GBP/USD bracketed between 1.5540/1.5580
2012-06-13 02:50 GMT | NZD/USD gently offered after touching 4-wk high
2012-06-13 02:48 GMT | EUR/NZD breaks below 1.6100 and prints a 7-week low

EURUSD : 1.24888 / 1.24893
DAILY WEEKLY MONTHLY

1.2623 | 1.2576 | 1.2537
1.2451 | 1.2404 | 1.2365

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

MARKET ANALYSIS - Intraday Analysis

Today’s technical’s are mixed, MACD in buy territory, but others in sell; EUR risk is increasingly binary. Supports are seen at 1.2435, 1.2375 and then at 1.2310. On the other hand, resistance levels are seen at the 21DMA line at 1.2562 and then at 1.2672.

GBPUSD : 1.55468 / 1.55471
DAILY WEEKLY MONTHLY

1.5743 | 1.5666 | 1.5609
1.5475 | 1.5398 | 1.5341

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

MARKET ANALYSIS - Intraday Analysis

Technical’s are mixed and rangy, it could break out in either direction. However, given the overall bearish trend a break below 1.5445 might be confirmation of a downside breakout to 1.5325. Meanwhile a break higher might be confirmed by a rally above 1.5582 targeting 1.5675. The pair will find supports at the 10DMA line at 1.5443 and then at 1.5404. On the other hand, resistance levels are seen at 1.5582, 1.5601 and then at the 21DMA line at 1.5614. Better risk/reward elsewhere.

USDJPY 79.659 / 79.665
DAILY WEEKLY MONTHLY

80.115 | 79.905 | 79.775
79.440 | 79.230 | 79.100

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

MARKET ANALYSIS - Intraday Analysis

The 50‐day MA has crossed below the 100‐day (80.14 and 80.23, respectively),which is typically a medium term sell signal. However, if risk aversion is beginning to abate, which increasingly it appears to be doing, then the outlook for USDJPY will shift higher. Currently it has reached near the highs at 79.50. It may have completed its move higher and be on the way back down to the bottom of the range at 79.20. There is the possibility of a breakout after the consolidation move has completed. The pair has already broken out of a descending channel on the daily chart and further upside is possible despite waning momentum, with 80.20 targeted higher.

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

alayoua · June 14, 2012, 4:38am

[B]Daily Market Review by FXCC June 14 2012

Greek Elections coming soon, Spain downgraded three notches

A day after global rating agency S&P cautioned India could lose its investment-grade credit rating due to political inaction. Data yesterday showed industrial expansion in April had barely managed to be in the positive zone, growing just 0.1% in the first month of the financial year, despite a not-so-high base of 5.3% growth in April 2011. In March, industrial output had contracted 3.15% US stocks dropped, indicating the Standard & Poor’s 500 Index already pared Tuesday’s rally, as investors await a got bearish on report that showed retail sales declined last month. The S&P 500 has dropped 6.7% from this year’s high on April 2 as Greece’s political parties failed to form a government, increasing the likelihood the nation won’t meet its debt obligations and forcing it to leave the Euro area.

Spain and Italy appealed to European policy makers to step up their response to the financial crisis after a €100bn (USD125bn) lifeline for Spanish banks failed to calm markets. European stocks declined as borrowing costs increased at debt auctions by Germany and Italy and as investors awaited a report on American retail sales. Merkel is stepping up her calls for closer “fiscal union” in Europe to tackle the debt crisis at its roots. Greek elections in four days threaten to herald the first expulsion of a country from the 17-nation currency union. China’s stocks rose, driving the benchmark index to its biggest gain in a month, on speculation the government will ease monetary policy and increase spending for infrastructure to stem the slowdown in the economy.
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https://support.fxcc.com/email/technical/14062012/

UPCOMING EVENTS :
2012-06-14 08:00 GMT | EMU - ECB Monthly Report
2012-06-14 09:00 GMT | EMU - Consumer Price Index
2012-06-14 13:00 GMT | US - Consumer Price Index
2012-06-14 20:00 GMT | UK - BoE’s Governor King Speech

FOREX NEWS :
2012-06-14 04:39 GMT | Japan Apr Capacity Utilization down (1.9)% from March
2012-06-14 04:32 GMT | Japan Apr Industrial Production (MoM) declines to -0.2% vs 1.3%
2012-06-14 04:10 GMT | GBP/USD bid above 1.5500
2012-06-14 03:14 GMT | Yen, the only true safe haven currency - HSBC

EURUSD : 1.25733 / 1.25739
DAILY WEEKLY MONTHLY

1.2753 | 1.2682 | 1.2627
1.2501 | 1.2430 | 1.2375

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

MARKET ANALYSIS - Intraday Analysis

Technical’s remain mixed with a limited range and lack of agreement among technical indicators suggests no trend in the near term. Trend supports are seen at 1.2443/35 and then at 1.2410. On the other hand, resistance levels are seen at 1.2553, which is the 21-DMA line and then at the key 1.2600 level.

GBPUSD : 1.55159 / 1.55168
DAILY WEEKLY MONTHLY

1.5679 | 1.5639 | 1.5583
1.5487 | 1.5447 | 1.5391

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

MARKET ANALYSIS - Intraday Analysis

Technical’s are bullish and has reached the 23.6% Fibonacci retracement level (1.5576) of the May decline In terms of technical levels, Trend supports are seen at the 10-DMA line at 1.5460 and then at 1.5454. On the other hand, resistance levels are seen at 1.5590, 1.5601 and then at 1.5637.

USDJPY : 79.433 / 79.436
DAILY WEEKLY MONTHLY

80.168 | 79.960 | 79.707
79.245 | 79.038 | 78.785

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

MARKET ANALYSIS - Intraday Analysis

Technical’s continue to be mixed with movement bound between 79.00 an 80.00 illustrates lack of a defined trend. Trend supports are seen at 79.17 and then at 79.00. On the other hand, resistance levels are seen at 79.22 and then at the key 80.00 level.

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

alayoua · June 15, 2012, 3:07am

[B]Daily Market Review by FXCC June 15 2012

Countdown to the Greek Elections and the Future of the Euro

The Asian regions stocks are gaining on Friday morning on hopes that Central banks of the world would offer stimulus if Greece decides to exit the Euro zone. Investors are putting in money ahead of the major events over the weekend mainly the Greek Vote. The SGX Nifty is trading higher by 24 points, tracking other peers. On the economic front, from the Euro-zone, we have the Euro-Zone Trade Balance which is expected to decrease to 4.2Bn from a previous reading of 4.3Bn and could put pressure on the euro. From the US, Empire Manufacturing will be closely watched. It’s expected to come in lower at 13.5 and could affect the dollar negatively in the evening session.

The big news of the day is a news from the G20 that there is a plan to coordinate action between global central banks, to work in unison, if needed after the Greek elections. Also in the UK George Osborne announced a plan to pull together the government and the BoE to build a cohesive action to stimulate growth and lending in England.
Read More
https://support.fxcc.com/email/technical/15062012/

UPCOMING EVENTS :
2012-06-15 06:50 GMT | EMU - ECB President Draghi’s Speech
2012-06-15 06:50 GMT | UK - Trade Balance
2012-06-15 09:00 GMT | EMU - Employment Change
2012-06-15 13:00 GMT | US - Net Long-Term TIC Flows

FOREX NEWS :
2012-06-15 04:56 GMT | USD/JPY extends decline to 78.80
2012-06-15 04:28 GMT | GBP/USD sits around 1.5550 ahead of Europe
2012-06-15 04:21 GMT | EUR/USD holds above 1.2600
2012-06-15 03:06 GMT | BoJ: No alteration to its easing program

EURUSD : 1.26324 / 1.26328
DAILY WEEKLY MONTHLY

1.2786 | 1.2717 | 1.2680
1.2574 | 1.2505 | 1.2468

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

MARKET ANALYSIS - Intraday Analysis

Technical’s and signals are mixed, likely to be within range over next 48-hours. The pair broke through the 1.26 price. Stochastic remains positive but is close to overbought territories but staying below the pivotal resistance of 1.2650 leave the pair stuck in neutral. A break back below 1.2500 will bring additional losses but a closing above 1.2630 will interrupt the main bearish trend. The trading range for today is among key support at 1.2360 and key resistance at 1.2790.

GBPUSD : 1.55415 / 1.55424
DAILY WEEKLY MONTHLY

1.5676 | 1.5620 | 1.5584
1.5492 | 1.5436 | 1.5400

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

MARKET ANALYSIS - Intraday Analysis

Technical’s are mixed - movement remains bound between support at 9 day MA (1.5481) and resistance at the 21 day MA (1.5578). Stochastic is pushing the overbought areas. A drop below 1.5480 will bring further downside actions. The trading range for today is among key support at 1.5230 and key resistance at 1.5730.

USDJPY : 78.860 / 78.866
DAILY WEEKLY MONTHLY

80.015 | 79.767 | 79.313
78.612 | 78.365 | 77.915

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

MARKET ANALYSIS - Intraday Analysis

Technical’s and signals are mixed - movement continues to be bound within a narrow range as indicators remain indecisive and contradictory RSI 14 started to show a sign of bearish tendency but trading remains stable above the key support level of 61.8% Fibonacci level. A break above 79.80 may fix the sign on RSI; whilst taking 78.80-78.70 will be a negative scenario. The trading range for today is among key support at 78.20 and key resistance now at 80.75.

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

alayoua · June 19, 2012, 3:50am

[B]Daily Market Review by FXCC June 19 2012

Euphoria over Greece turns to Anxiety over Spain

It didn’t take much time for the euphoria over the Greek elections to die out, as markets are falling in morning trade. The focus is shifting to the bigger economy of Spain and its ever-growing borrowing costs. Spanish Bond yields ended well above the 7% mark. The SGX Nifty is trading higher by 3 points, tracking other peers.

On the economic front, we have the Zew Sentiments from the Euro-zone, which could come in lower and pressurize the euro. From the US, Housing Starts and Building permits are both expected to come in higher and could support the dollar but the main events are the G20 meetings, the FOMC meetings and the EU Summit.
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UPCOMING EVENTS :
2012-06-19 08:30 GMT UK - Consumer & Retail Price Index
2012-06-19 09:00 GMT EMU - Construction Output & ZEW Survey
2012-06-19 12:30 GMT US - Building Permits & Housing Starts
2012-06-19 22:45 GMT New Zealand - Current Account

FOREX NEWS :
2012-06-19 04:30 GMT EUR/USD above 1.2600 again
2012-06-19 04:20 GMT GBP/USD gently bid ahead of UK CPI data
2012-06-19 03:53 GMT EUR/USD to finish the year substantially above current level - HSBC
2012-06-19 02:30 GMT EUR/JPY sits around 99.50 in quiet session

EURUSD : 1.26110 / 1.26114
DAILY WEEKLY MONTHLY

1.2820 | 1.2784 | 1.2744
1.2668 | 1.2632 | 1.2592

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

MARKET ANALYSIS - Intraday Analysis

Technical’s remain mixed - RSI stalling at 50 suggests waning potential for further upswing ( which was accomplished just a bit ago ) but then the EUR tumbled. At this writing, indicators are moving quickly RSI has moved to neutral and Stochastic shows a buy in the daily reading. MACD daily has moved to sell. In the short term all indicators are reading strong buys. The pair sits around the 1.26 handle. After this we have the psychological barrier, and the correction trendline. A break below this TL, near 1.2520, should be a signal of a bearish continuation, with support in 1.24-1.2410 area.

GBPUSD : 1.56909 / 1.56918
DAILY WEEKLY MONTHLY

1.5785 | 1.5764 | 1.5732
1.5679 | 1.5658 | 1.5626

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

MARKET ANALYSIS - Intraday Analysis

Technical’s here are quite mixed with resistance seen at 38.2% Fibonacci retracement (1.5708) of May decline. 1.56 may well be grounds for support. There is a psychological barrier that, if broken, may open up the downside toward 1.5240. Before opening up this low, the near term chart shows that there is a trendline that is near 1.55 we are even more likely opening up the 1.5240 low. Today the pair are expected to be range bound

USDJPY : 78.994 / 78.998
DAILY WEEKLY MONTHLY

79.760 | 79.533 | 79.365
78.9670 | 78.745 | 78.575

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

MARKET ANALYSIS - Intraday Analysis

Technical’s have become very mixed and even contradictory; near term support seen at 200 day MA (78.75). Short term all point to sell, except for MACD which has reversed to a buy. When we move to daily, the signals have all moved in different directions, there is no support for any decision. MA’s all the way out to 200day read sell, MACD reads sell but RSI and Stochastic show neutral. Resistance levels: 79.51 80.37 81.22 and support levels: 78.59 77.62 76.80. The pair reversed its direction at 78.60 and current bias is positive, for a break through 79.50, towards 80.60. Minor intraday support can be spotted at 79.02.

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

alayoua · June 20, 2012, 5:02am

[B]Daily Market Review by FXCC June 20 2012

Markets eagerly await the FOMC statements later today

US markets rose yesterday and ended at five-week highs after upbeat housing data, as the Federal Reserve considered further moves to stimulate the economy. A recent batch of disappointing U.S. economic data such as industrial production, retail sales and jobless claims, has contributed to the optimism about further stimulus to be announced following the conclusion of its two-day monetary policy meeting on Wednesday, along with continued concerns about the impact of the ongoing financial crisis in Europe

That good old “risk on” feeling was back in markets, and for a day they traded in a fairly conventional rally pattern. Stocks were up in the US (0.98% on the S&P 500), the Euro rallied against the USD, with EURUSD trading above 1.27 at times during the day, and WTI appreciated by close to a dollar. Today, everything seems to be on hold waiting for the FOMC statements this afternoon. Traders will begin to position themselves prior to the same, but markets seem to have an eerie calm as the day begins.
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UPCOMING EVENTS :
2012-06-20 08:30 | UK - Bank of England Minutes
2012-06-20 16:30 | US - Fed Interest Rate Decision
2012-06-20 18:00 | US - FOMC Economic Projections
2012-06-20 18:15 | US - Fed’s Monetary Policy Statement and press conference

FOREX NEWS :
2012-06-20 04:32 GMT | Japan Apr All Industry Activity Index (MoM) 0.1%
2012-06-20 04:23 GMT | GBP/USD consolidates around 1.5720; BoE Minutes eyed
2012-06-20 04:23 GMT | EUR/USD awaits Greek government coalition below 1.2700
2012-06-20 03:47 GMT | GBP/AUD sits below 1.5450 after overnight dip to 2-mth lows

EURUSD : 1.26783 / 1.26786
DAILY WEEKLY MONTHLY

1.2820 | 1.2784 | 1.2744
1.2668 | 1.2632 | 1.2592

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

MARKET ANALYSIS - Intraday Analysis

Technical are very mixed - RSI (sub-50) remains the lone technical holdout, limiting upside. The overall outlook remains bearish, from here we still see room for short-term upside before a fresh lower top is sought out. Supports are seen at the 10-DMA line at 1.2568 and then at 1.2552. Whereas resistance levels are seen at 1.2748 and then at the 55-DMA line at 1.2854.

GBPUSD : 1.57290 / 1.57297
DAILY WEEKLY MONTHLY

1.5785 | 1.5764 | 1.5732
1.5679 | 1.5658 | 1.5626

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

MARKET ANALYSIS - Intraday Analysis

Technical’s continue to read mixed - resistance near 1.5700 continues to be seen as the GBP is sitting right on the 1.57price line. risks seem tilted to the upside to allow for a necessary short-term corrective bounce after setbacks stalled, look for additional upside towards the 1.5800-1.6000. Supports are seen at the 10-DMA line at 1.5563 and then at the 21-DMA line 1.5559. Whereas resistance levels are seen at the 21-DMA upper Bollinger level at 1.5790 and then at 1.5802.

USDJPY : 78.893 / 78.898
DAILY WEEKLY MONTHLY

79.760 | 79.533 | 79.365
78.970 | 78.750 | 78.575

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

MARKET ANALYSIS - Intraday Analysis

Technical’s are bearish - decline nearing 200 day MA (78.76); support expected at 78.61. After attempts at recovery the market should continue to break higher, set on a retest and break of the 2012 highs by 84.20 further up. However, at this point, we will need to see a break and close back above 80.00. Supports are seen at 78.61/10 and then at 77.99. Whereas, resistance levels are seen at 79.31/51 and then at 79.75.

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

alayoua · June 26, 2012, 3:48am

[B]Daily Market Review by FXCC June 26 2012

EU in total turmoil and chaos… Moody’s downgrades 28 Spanish Banks

Markets traded with a negative bias on Monday: equities sold off in Europe and North America (-2% on the DAX, -1.6% on the S&P 500, -0.9% on the TSX) on a succession of ominous news reports out of Europe. Spain announced that it would seek bailout funds from the Eurogroup, and later Cyprus announced that it would seek bailout funds from the Eurogroup… the hits kept on coming throughout the day. While the Eurogroup has officially welcomed both requests, it will need to come up with plans to meet both countries’ needs in the short term, even as the EU Summit planned for the 28th and 29th is supposed to focus on larger matters such as coordinated stimulus throughout the Eurozone, the relaxing of timetables for fiscal consolidation in different European countries, etc.

The euro traded lower, with EURUSD closing at 1.25, while CAD strengthened during the second half of the day as the near-month WTI contract rebounded from an intraday low of US$78 per barrel to US$79.20 (still lower on the day – it had opened above US$80 per barrel). The TSX was buoyed by strength in the gold mining sub-sector (+1.8%) while the oil and gas sector followed crude prices lower. Government bonds in Canada, the US and Germany all appreciated today, and the generic German 2-year is back to a single digit yield of 0.07%. The market mood was summed up by a release that read "As demands for action weigh on EU leaders, markets begin to lose confidence that this week’s EU summit will yield anything more than promises and small steps. In this environment the markets are shedding risk. "
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UPCOMING EVENTS :
2012-06-26 08:30 GMT | UK - Public Sector Net Borrowing (May)
2012-06-26 08:30 GMT | UK - Inflation Report Hearings
2012-06-26 14:00 GMT | US - Consumer Confidence (Jun)
2012-06-26 14:00 GMT | US - Richmond Fed Manufacturing Index (Jun)

FOREX NEWS :
2012-06-26 03:57 GMT | USD/JPY selling off ahead of tax voting
2012-06-26 03:40 GMT | US new home sector to remain under pressure - RBC
2012-06-26 02:02 GMT | China CB Leading Economic Index: 1.1
2012-06-26 01:50 GMT | Risk currencies on correction mode after Monday’s USD buying

EURUSD
DAILY WEEKLY MONTHLY

1.2615 | 1.2580 | 1.2542
1.2469 | 1.2434 | 1.2396

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

MARKET ANALYSIS - Intraday Analysis

Crucial support is evident at 1.2440, and a sustained breach of the same may see the euro test its previous lows of 1.2286 and 1.2142 in the coming days. RSI-14 is currently trading at 0.37 with a negative bias on the weekly chart. We can expect the euro to trade lower following its overall downtrend. Meanwhile, resistances are evident at 1.2647 (8-period EMA on daily chart) then 1.2740.

GBPUSD :
DAILY WEEKLY MONTHLY

1.5643 | 1.5617 | 1.5591
1.5539 | 1.5513 | 1.5487

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

MARKET ANALYSIS - Intraday Analysis

We can expect the pair to continue its downward rally and test the support of 1.5510, or 23.6% retracement level for the aforementioned range. If the pair breaches this support, then the next support is at 1.5360; the resistances are at 1.5660 (8-period EMA on weekly chart) and then 1.5755.

USDJPY :
DAILY WEEKLY MONTHLY

81.475 81.025 80.340
79.210 78.760 78.075

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

MARKET ANALYSIS - Intraday Analysis

The pair is trading above the 38.2% Fibonacci retracement level in the downward rally ranging from 84.17 to 77.62). We can expect the pair to retest the support levels of 79.70-79.40, and the yen may start inching up from these levels. The RSI-14 is currently at 0.51 and is tending towards the upside. This week, we recommend buying at support levels of 79.80-79.75. The supports are evident at 79.70-79.40 and resistances are at 80.91 and 81.60, representing 50% and 61.8% retracement level for the 84.17-77.62 range, respectively. Short term signals are bearish but as we move to the longer view, indicators are totally confused.

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

alayoua · June 27, 2012, 2:52am

[B]Market Review by FXCC June 27 2012

EU Summit to consider “Grand Master Plan” while Europe Burns

US markets traded with a positive bias today, as the S&P 500 and NASDAQ were both up approximately 0.75% after yesterday’s sell-off. Bonds sold off, but only moderately while crude traded fairly flat in the US. The near-month Brent crude future shot up 2.3% on news that striking oil workers in Norway caused the closure of four oil platforms on top of the shut-down of a large processing and drilling facility that has been idle since Sunday. In this context, the Canadian dollar traded stronger against USD, appreciating to 1.0237 at the close. Prices of some of the petroleum blends that Canada exports, particularly WCS, remain fairly low both in absolute terms and vs. WTI, and the strength in Brent did not carry over into Canadian energy stocks, which were flat on the day. US stocks advanced despite that fact that US consumer confidence fell to a reading of 62 in June from a reading of 64.4 in May. That’s the lowest reading since January of this year, when the index stood at 61.1. The decline was driven: a) by increases in respondents who found employment ‘hard to get,’ b) who found general conditions were ‘worse’, and c) a reduction in intentions to make major purchases.

President of the European Council Herman Von Rompuy published a plan titled “Towards a Genuine Economic and Monetary Union” for discussion at the EU Summit this week. The report outlines his views as to how the European crisis ought to be addressed. Weakness in the euro became more evident throughout the day, as investors lost confidence in any results from the EU Summit and their grand plan, markets want action to help correct today’s problems, not plans for the future, when their maybe no EU or euro.
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UPCOMING EVENTS :
2012-06-27 08:30 GMT | UK - BBA Mortgage Approvals (May)
2012-06-27 10:00 GMT | UK - CBI Distributive Trades Survey (Jun)
2012-06-27 12:30 GMT | US - Durable Goods Orders (May)
2012-06-27 14:00 GMT | US - Pending Home Sales (May)

FOREX NEWS :
2012-06-27 04:33 GMT | EUR/USD glued at round 1.2500
2012-06-27 04:28 GMT | Dismantling conventional logic BoJ QE equals Yen weakness - HSBC
2012-06-27 02:48 GMT | EUR/JPY back to opening price
2012-06-27 01:43 GMT | CPI-IPI mix implies more MAS flexibility - Nomura

EURUSD : 1.24990 / 1.24993
DAILY WEEKLY MONTHLY

1.2619 | 1.2575 | 1.2530
1.2441 | 1.2397 | 1.2352

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

MARKET ANALYSIS - Intraday Analysis

Daily technicals have just moved to bearish. Whereas short term technicals are providing opposing signals. Supports are seen at 1.2419 and then at 1.2375 both congestion levels. On the other hand, resistance levels are seen at the 21-DMA line at 1.2530 and then at 1.2565. . The primary outlook is lower towards 1.2434 and 1.2360 and a break below 12287 is expected in the near future. The main question is whether or not the decline continues from below 1.2566. The bias remains bearish and strength into resistance, especially on news, should be sold.

GBPUSD : 1.56337 / 1.56347
DAILY WEEKLY MONTHLY

1.5755 | 1.5703 | 1.5668
1.5581 | 1.5529 | 1.5494

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

MARKET ANALYSIS - Intraday Analysis

Indicators are mixed and technicals are not in agreement; near term resistance is at 9 day MA 1.5642 also supports are seen at the 21-DMA line at 1.5541, 1.5535 and then at 1.5473. On the other hand, resistance levels are seen at 1.5660, 1.5734 and then at 1.5578. Whether or not the decline continues from below or above Friday’s high at 1.5634. The overall outlook is bearish against 1.5777

USDJPY : 79.446 / 79.449
DAILY WEEKLY MONTHLY

80.310 | 80.050 | 79.500
79.205 | 78.950 | 78.655

SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

Technicals are mostly bearish with others in neutral heading toward the bearish levels. The pair is heading toward the lower end of a wide range bound between 200 day MA 78.84 and 100 day MA 80.51. Support is well defined from the 20 day average, channel support. A break above yesterday’s top and nearest resistance 80.62 would encourage further recovery of the dollar. Immediate support is yesterday’s bottom at 79.43, and a consistent break below could strengthen the yen further down towards next target 78.55.

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

alayoua · June 28, 2012, 3:43am

[B]Market Overview by FXCC June 28 2012

The calm before the storm… EU Summit formally begins today.

Today begins the three ring circus, known as the EcoFin Summit, or the EU Summit, with all the hype of a Broadway Show, getting more press coverage then the Euro games as Finance Ministers from all the EU nations advance their own personal agendas while seeking as much press coverage as possible. Markets will be controlled by news flow and press with lots of incorrect, out dated and erroneous statements. Plans and programs will be leaked and divulged, none of which will have anything to do with the final outcome. Markets and Investors do not expect much from the carnival. Lots of Grand Plans and Master Schemes, which will take years to enact or never happen. Currency markets are expected to hold firm, as they have calmed leading into the Summit, risk aversion remains the overall theme.

Pressure is on the Finance Ministers to come up with a comprehensive plan to save the euro and the EU, today, as it might not exist to implement their long term schemes. This is D day… Elsewhere, the US has had some positive eco data on the home front, with housing showing some life and Durable goods also on the positive side. Consumer confidence has been dragging, although with the drop in gasoline prices, markets were expecting a bit of a turn, but the jobs market continues to weigh on Americans. Japan, is in political turmoil, as Prime Minister Noda, risked all of this capital to pass the increase in Consumption Tax legislation, which passed with a wide margin, but now faces problems within his coalition as enough members voted against to lose his controlling interest.
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UPCOMING EVENTS :
2012-06-28 08:30 GMT UK - Gross Domestic Product
2012-06-28 09:00 GMT EMU - Consumer Confidence (Jun)
2012-06-28 12:30 GMT US - Gross Domestic Product
2012-06-28 12:30 GMT US - Core Personal Consumption Expenditures

FOREX NEWS :
2012-06-28 04:26 GMT EUR/USD jumps ahead of the EU Summit
2012-06-28 04:22 GMT Aud new houses and job vacancies came soft today.NAB
2012-06-28 02:58 GMT EUR/AUD dips to 3-month low
2012-06-28 02:09 GMT Eurozone leaders ready for summit – Rabobank

EURUSD : 1.25143 / 1.25149
DAILY WEEKLY MONTHLY

1.2566 | 1.2537 | 1.2504
1.2442 | 1.2413 | 1.2380

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

MARKET ANALYSIS - Intraday Analysis

Technicals are mixed, with better risk/reward elsewhere. Short term, near term and long term are providing opposing signals. Near term support lies at 1.2440; while resistance comes in at the 1.2575, both congestion levels. Longer term signals have all become bearish, including Stochastic, RSI and MACD supporting the bearish outlook. Supports are seen at 1.2442 and then at 1.2380. Whereas daily resistance levels are seen at the 21-DMA line at 1.2530 and then at the 10-DMA line at 1.2583.

GBPUSD : 1.55878 / 1.55888
DAILY WEEKLY MONTHLY

1.5721 | 1.5681 | 1.5626
1.5531 | 1.5491 | 1.5436

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

MARKET ANALYSIS - Intraday Analysis

Technicals remain mixed with trading within a triangular consolidation pattern, resistance remains at 9 day MA (1.5650), and near term support is at the 21 day MA (1.5547). Short term signals are supporting a strong bullish run for the present, where as daily signals are the complete opposites offering a strong bearish outlook. Daily supports are seen at the 21-DMA line at 1.5540 and then at 1.5535. Whereas, resistance levels are seen at 1.5721 and then at 1.5797.

USDJPY : 79.450 / 79.453
DAILY WEEKLY MONTHLY

80.420 | 80.145 | 79.908
79.395 | 79.125 | 78.885

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

MARKET ANALYSIS - Intraday Analysis

Technicals are mixed but shifting to a sell mode, with support over past two sessions seen at 9 day MA (79.53), with resistance at 50 day MA (79.75) over the same period. Daily supports are seen at 79.36 and then at 79.12. On the other hand, resistance levels are seen at 80.09 and then at 80.63. Yesterday’s outlook remains in place today, a break above Tuesdays top and nearest resistance 80.62 would encourage further recovery of the dollar. Immediate support is Tuesday’s bottom at 79.36, and a consistent break below could strengthen the yen further down towards next target 78.55.

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

alayoua · July 2, 2012, 5:49am

[B]Market Overview by FXCC July 2 2012

Chinese PMI disappoints

U.S. stocks soared on Friday, and all three indexes closed out the first half of 2012 up more than 5%. NASDAQ has etched double-digit gains. Dow Jones closed the day up 278 points, or 2.2%. S&P 500 gained 33 points, or 2.5%. Nasdaq added 86 points, or 3%. A deal among European leaders to help struggling eurozone banks buoyed global markets Friday, at least temporarily erasing investors’ looming fears over the viability of the eurozone. While stocks have clocked broad gains for the year, all three indexes closed out the second quarter below first quarter highs. Fears over Europe pushed stocks down nearly 10% in early June. Still, on Friday, investors looked solely at what was accomplished at the two-day European Union summit in Brussels. European leaders struck a “breakthrough” deal early Friday aimed at easing the recapitalization of banks. The European markets surged after European leaders agreed to the recapitalization plan and a tighter union. Britain’s FTSE added 2%, DAX in Germany jumped 3.5% and France’s CAC 40 rallied 3.8%.

Except for Shanghai, which trades marginally lower by 0.2%, all the other Asian indices are trading in the green. Nikkei & Strait Times are up by 0.1% & 0.5% respectively, while Taiwan is up by 0.4%. Kospi is trading on a flat note. Among the metals, Aluminum lost 0.3% while Copper gained the most (2.4%). Zinc and Nickel rose by 2.2% and 0.2% respectively. Oil for August delivery rose $7.27 to $84.96 a barrel. Gold futures for August delivery as high as $53.8 to $1,604.2 an ounce Coming up this week, the US will celebrates their Independence Day holiday in the middle of the week but the trading week will still have some important headlines, including a European Central Bank meeting and U.S. unemployment data. There will be an ECB rate announcement where expectations are of a 0.25% cut to a record low 0.75%., German and Spanish industrial production and airlines release traffic numbers.
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UPCOMING EVENTS :
2012-07-02 08:00 GMT | EMU - Markit Manufacturing PMI
2012-07-02 08:28 GMT | UK - Markit Manufacturing PMI
2012-07-02 09:00 GMT | EMU - Unemployment Rate (May)
2012-07-02 14:00 GMT | US - ISM Manufacturing PMI (Jun)

FOREX NEWS :
2012-07-02 04:45 GMT | GBP/USD consolidates around 1.5660
2012-07-02 04:19 GMT | BoE will ease more than expected, stay wary on Cable - UBS
2012-07-02 03:46 GMT | Probability to re-price RBNZ rate cuts - BNZ
2012-07-02 03:10 GMT | AUD/NZD down with regional PMI readings

EURUSD : 1.26251 / 1.26255
DAILY WEEKLY MONTHLY

1.2723 | 1.2696 | 1.2671
1.2621 | 1.2586 | 1.2561

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

MARKET ANALYSIS - Intraday Analysis

EUR/USD opened the week with bearish momentum, off from a high of 1.2676. The pair was likely to find support at 1.2408, Thursday’s low, and resistance at 1.2692, Friday’s high. The short term bias remains mildly on the upside for 1.2747. A break will target 100% projection of 1.2287 to 1.2747 from 1.2406 at 1.2866 next. Expect strong resistance from 61.8% retracement at 1.2902 this will limit the upside. A break below 1.2406 is needed to signal completion of the current move and a return to the bearish outlook.

GBPUSD : 1.56686 / 1.56696
DAILY WEEKLY MONTHLY

1.5747 | 1.5719 | 1.5694
1.5659 | 1.5621 | 1.5602

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

MARKET ANALYSIS - Intraday Analysis

Sterling is hanging at the key resistance area at the 1.57 level with the downward sloping trend line from the April 30th high connecting to the June 20th high at 1.56785. The upward channel trend line which was broken last week comes in at the 1.56818. The price is above the 38.2% retracement. This is all bullish for the pair. The next key target will come in at the 1.5748 level and then at 1.5783 (50% of the move down from April high) and 100 day MA at 1.5813.The pair could reverse and become bearish if it violates the1.5661 level and then the 1.5634 level.

USDJPY : 79.624 / 79.629
DAILY WEEKLY MONTHLY

80.650 | 80.150 | 79.930
79.570 | 79.335 | 79.170

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

MARKET ANALYSIS - Intraday Analysis

Looking at the hourly chart the price has moved above the 100 and 200 hour MA at the 79.60 level (bullish). Staying above this level keeps the bulls in control. With a move below, the bullish bias disappears. The next upside targets become the 80.044 (61.8% of the weeks range) and the 80.14 (38.2% of the move down from the March 2012 high, and the key 100 day MA at the 80.56 level. A break above (or even below if the price cannot stay above the 79.50-60 area), should be met with increased momentum.

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