Daily Forex Market by FXCC

alayoua · August 8, 2012, 2:50am

[b]Market Overview by FXCC Aug 08 2012

UK inflation report should keep GBP under pressure

The Inflation Report, due out at 9.30GMT today, has potential to influence the near-term GBP outlook, says RBS strategy team. “While the MPC will not want to be backed into a corner on cutting the base rate ahead of an assessment of the FLS (Funding for Lending Scheme), there should be enough dovish sentiment to keep GBP under pressure” RBS notes.

A quiet session ahead in London in terms of EUR macro data related, starting at 06:00 GMT with German current account and trade balance, followed 30 minutes later by French BoF business sentiment, and trade balance 15 minutes after, Spanish industrial production at 07:00 GMT, and probably most important, German industrial production at 10:00 GMT. In the sovereign debt front Germany will auction up to € 4B in 10 year bunds at 06:00 GMT, with 10 year yields on the rise since record lows at 1.12% on July 23, last at 1.48%. (fxstreet.com)
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FXCC Market Update 08-08-2012

UPCOMING EVENTS :
2012-08-08 09:30 GMT | U.K. Bank of England Quarterly Inflation Report
2012-08-08 10:00 GMT | Germany. Industrial Production (YoY) (Jun)
2012-08-08 17:00 GMT | U.S. 10-Year Note Auction
2012-08-08 23:50 GMT | Japan. Foreign bond investment

FOREX NEWS :
2012-08-08 04:37 GMT | EUR/USD pegged near 1.24 for third day
2012-08-08 04:37 GMT | GBP/USD flat as market awaits UK inflation outlook
2012-08-08 03:57 GMT | BoE to lower inflation, GDP growth forecasts - UBS
2012-08-08 03:47 GMT | USD/JPY calmed around 78.50 ahead of BoJ

EURUSD : 1.23902 / 1.23907
DAILY WEEKLY MONTHLY

1.2595 | 1.2519 | 1.2443
1.2368 | 1.2298 | 1.2222

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

MARKET ANALYSIS - Intraday Analysis

EURUSD made an attempt to go higher yesterday but fail to climb above our suggested resistance level at 1.2443 (R1), strong technical level. We expect retest of this level later on today. Brake here is required to enable next targets at 1.2519 (R2) and 1.2595 (R3). At the moment instrument is moving towards to our next support levels at 1.2368 (S1). If it breaks below it we expect the price to form a correction towards to next support at 1.2298 (S2) and then we might see reversal of tendency (daily).

GBPUSD : 1.56082 / 1.56091
DAILY WEEKLY MONTHLY

1.5768 | 1.5726 | 1.5683
1.5588 | 1.5545 | 1.5503

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD appreciated yesterday above our suggested resistance level at 1.5618 and met our target at 1.5666. Next resistance level for today locates at yesterday high – 1.5683 (R1). Brake here would suggest next target at 1.5726 (R2) and any further rise will then be limited to 1.5768 (R3). However, we expect the price to retest our next support level at 1.5588 (S1). A break below that level would suggest next targets at 1.5545 (S2) and 1.5503 (S3). In focus Bank of England Quarterly Inflation Report at 09:30 GMT that might bring additional volatility on the markets.

USDJPY : 78.423 / 78.429
DAILY WEEKLY MONTHLY

79.26 | 79.00 | 78.77
78.37 | 78.13 | 77.92

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

MARKET ANALYSIS - Intraday Analysis

USDJPY rose yesterday and met our suggested target at 78.57. Strong psychological level stay at 78.77 (R1), brake here might determine medium term trend development and change of the market sentiment. In such scenario we would suggest targets at 79.00 (R2) and 79.26 (R3). On the other hand market still moves in range mode and break below next support level at 78.37 (S1) might expose our next target at 78.13 (S2). Further intraday fall with then be limited to 77.92 (S3), final support of the medium term sideways channel.

Source: FX Central Clearing Ltd, ECN Forex Trading System | What Is Forex | Forex Live | FXCC[/b]

alayoua · August 9, 2012, 2:41am

[B]Market Overview by FXCC Aug 09 2012

BOJ: no change in policy

The BoJ monetary policy decision is out and as most participants expected - not a clear cut as in previous months - , the central bank has kept the asset purchase fund at 45 trillion yen, with the credit Loan program also unchanged at 25T yen. Total size of Asset-Purchase Program remains at Y70 trillion. Central bank statement said economy picking up moderately. The Japanese GDP figures will be released next week.

Looking at the economic agenda for the London session ahead one should think another quiet session is around the corner, though with such extreme low liquidity given summer time holidays in Europe and London Olympics in the middle of the final series, any unexpected headline coming from nowhere could make things change in the blink of an eye. Still, no major sovereign debt auctions are scheduled from the EZ, and troubled countries Spain and Italy’s 10y yields stay on check right below the 7% in the Spanish case and right below the 6% for his Latin neighbor. (fxstreet.com)
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FXCC Market Update 09-08-2012

UPCOMING EVENTS :
2012-08-09 08:00 GMT | E.M.U. ECB Monthly Report
2012-08-09 08:30 GMT | U.K. Goods Trade Balance (Jun)
2012-08-09 12:15 GMT | CANADA. Housing Starts (Jul)
2012-08-09 12:30 GMT | U.S. Trade Balance (Jun)

FOREX NEWS :
2012-08-09 04:28 GMT | GBP/USD sideways below 100 EMA; UK trade accounts ahead
2012-08-09 02:53 GMT | EUR/USD: break of key levels eyed – V.Bednarik
2012-08-09 02:29 GMT | AUD/JPY rallies capped below key Fibo resistance
2012-08-09 01:40 GMT | China: July CPI prints 1.8% YoY, beating expectations

EURUSD 1.23692 / 1.23695
DAILY WEEKLY MONTHLY

1.2595 | 1.2519 | 1.2443
1.2325 | 1.2243 | 1.2148

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

MARKET ANALYSIS - Intraday Analysis

As we expected yesterday, EURUSD continued to move in correction mode. Pair dropped below our suggested support level at 1.2368 but did not manage to gain momentum reversed on the US session. Today we are not expecting significant volatility increase however ECB Monetary report release at 08:00 GMT time might affect the markets. If the break occurs above next resistance level at 1.2443 (R1), we suggest next targets at 1.2519 (R2) and 1.2595 (R3). The downside trend evolvement is limited by next support level at 1.2325 (S1), surpassing of which might lead to the next targets at 1.2243 (S2) and 1.2148 (S3).

GBPUSD : 1.56649 / 1.56658
DAILY WEEKLY MONTHLY

1.5816 | 1.5755 | 1.5696
1.5653 | 1.5606 | 1.5554

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD moved below expected support level at 1.5574 but failed to develop success and recover all daily losses. A further increase will then bring focus to the next resistance levels at 1.5696 (R1) and 1.5755 (R2). Final resistance can be found at 1.5816 (R3) level. Likely we might see retracement from previous day gains. Next support level holds at 1.5653 (S1). A break below that level would suggest next target at 1.5606 (S2), further fall will then focus on the next target at 1.5554 (S3).

USDJPY : 78.506 / 78.509
DAILY WEEKLY MONTHLY

79.00 | 78.78 | 78.58
78.23 | 78.05 | 77.86

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

MARKET ANALYSIS - Intraday Analysis

Technically, instrument moved in range mode. In such situation we suggest to wait for clear signal of sentiment change. For long positions we suggest intraday targets at 78.58 (R1) and 78.78 (R2), clearance here is required for sentiment change to bullish and further appreciation might find final resistance at 79.00 (R3). Short positions might face supports at 78.23 (S1) and 78.05 (S2). Strong technical support located at 77.86 (S3), brake here would suggest of sentiment change to bearish.

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

alayoua · August 10, 2012, 3:03am

[b]Market Overview by FXCC Aug 10 2012

RBA outlook for growth continues around trend with inflation on target

The RBA’s quarterly update on financial markets and the economy held few surprises for the market, says NAB economist Robert Henderson. To summarize the report, Robert reports: “The RBA expects some moderation in growth in the second half the 2012 after strong growth in the first half (at least as measured by GDP) and then the economy growing at trend ahead. At the same time, inflation has bottomed but is expected to travel within the target band out to the end of 2014.”

As it has been usual in the recent past, Fridays don’t bring any critical EZ sovereign debt auctions to take place, and London session ahead will again be a quiet one in terms of EUR macro data related, despite the bunch of minor figures will be released, starting with German CPI and HCPI at 06:00 GMT, followed 45 minutes later by French industrial,manufacturing production, and Gov budget balance, and Italian CPI at 08:00 GMT. The UK will deliver PPI figures at 08:30 GMT which could bring some volatility to cross EUR/GBP. (fxstreet.com)
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FXCC Market Update 10-08-2012

UPCOMING EVENTS :
2012-08-10 06:00 GMT | Germany. Consumer Price Index (YoY) (Jul)
2012-08-10 08:00 GMT | United Kingdom. PPI Core Output (YoY)
2012-08-10 12:30 GMT | Canada. Unemployment Rate (Jul)
2012-08-10 18:00 GMT | United States. Monthly Budget Statement (Jul)

FOREX NEWS :
2012-08-10 04:32 GMT | GBP/USD selling to continue upon break of 1.56
2012-08-10 03:54 GMT | After China trade print, worst still to come - HSBC
2012-08-10 03:12 GMT | Trade Balance figures disappoint in July
2012-08-10 02:36 GMT | AUD/USD to fresh session lows post RBA

EURUSD : 1.22887 / 1.22892
DAILY WEEKLY MONTHLY

1.2519 | 1.2420 | 1.2327
1.2265 | 1.2148 | 1.2038

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

MARKET ANALYSIS - Intraday Analysis

Yesterday instrument declined below our suggested support level at 1.2325 and formed fresh low at 1.2265 (S1), our next support level. Uptrend on the medium term still in power and we might see appreciation of the instrument later on today. A break above next resistance level at 1.2327 (R1) would suggest next target at 1.2420 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 1.2519 (R3). On the other hand, loss of next support at 1.2265 (S1) might lead to the further correction development with targets at 1.2148 (S2) and 1.2038 (S3) levels.

GBPUSD : 1.56203 / 1.56212
DAILY WEEKLY MONTHLY

1.5755 | 1.5696 | 1.5647
1.5605 | 1.5555 | 1.5501

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD successfully penetrated below our expected support level at 1.5653 and met our first target at 1.5606. Technically, development of the trend might occur in any direction now. Clearance of next resistance level at 1.5647 (R1) would suggest next targets at 1.5696 (R2) and any further rise will be limited by last resistance at 1.5755 (R3) intraday. From the other side, loss of next support at 1.5605 (S1) might encourage executing of orders and drive market price towards to the next targets at 1.5555 (S2) and 1.5501 (S3) levels.

USDJPY : 78.544 / 78.549
DAILY WEEKLY MONTHLY

79.20 | 79.01 | 78.79
78.48 | 78.29 | 78.09

SUMMARY : Sideway
TREND U : pward penetration
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

As expected yesterday, USDJPY continued its range trading mode and we are not expecting the sentiment change today. Next support level stays at 78.48 (S1). Brake here would suggest next target at 78.29 (S2), where we can see reversal of the intraday tendency. Any further fall would then be limited by last support at 78.09 (S3). From the upper side, next resistance levels locates at 78.79 (R1) and 79.01 (R2). In current market conditions we suggest to wait for clear signal of market sentiment change.

Source: FX Central Clearing Ltd, ( ECN Forex Trading System | What Is Forex | Forex Live | FXCC )
[/b]

alayoua · August 13, 2012, 2:46am

[b]Market Overview by FXCC Aug 13 2012

USD, from here to eternity - UBS

The US Dollar is likely to remain the world’s reserve currency over the next fifty years, says Mansoor Mohi-uddin Head of Foreign Exchange Strategy at UBS Macro Research. “This eternity forecast could be derailed if a deadlocked Congress refused to raise America’s debt ceiling, yet, in the absence of the US government defaulting in future, the dollar’s dominance may prove surprisingly durable” Mr. Mohi-uddin said in a research note.

London session ahead has almost no EUR macro data related, with only German wholesale price index at 06:00 GMT, followed by French current account 45 minutes later, and Greek prelim 2Q GDP at 09:00 GMT. Little bit busier in the sovereign debt auctions front, Germany will sell up to € 4B in 6 month bills at 06:00 GMT, while Italy will auction up to € 8B in 12 month bills.
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https://support.fxcc.com/email/technical/13082012/

UPCOMING EVENTS :
2012-08-13 06:00 GMT | Germany. Wholesale Price Index (YoY) (Jul)
2012-08-13 22:45 GMT | New Zealand. Retail Sales (QoQ) (Q2)
2012-08-13 23:00 GMT | United Kingdom. RICS Housing Price Balance (Jul)
2012-08-13 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes

FOREX NEWS :
2012-08-13 04:14 GMT | GBP/AUD sideways, off 6-month lows
2012-08-13 03:50 GMT | EUR/JPY holding above 96.00
2012-08-13 03:25 GMT | AUD/USD gently bid above 1.0550
2012-08-13 02:44 GMT | Downside USD/JPY risks appear limited - UBS

EURUSD : 1.22841 / 1.22845
DAILY WEEKLY MONTHLY

1.2490 | 1.2402 | 1.2327
1.2240 | 1.2165 | 1.2085

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

MARKET ANALYSIS - Intraday Analysis

Market sentiment remains positive on the medium term perspective. The crossing of moving averages recently could be considered as signal of uptrend direction priority for today. A break above 1.2327 (R1) would suggest target at 1.2402 (R2) and further gain will then be limited at 1.2490 (R3). However break below the 1.2240 (S1) level might provide space for further retracement development. We suggest next target at 1.2165 (S2), brake here is required to enable final target at 1.2085 (S3).

GBPUSD : 1.56679 / 1.56690
DAILY WEEKLY MONTHLY

1.5805 | 1.5755 | 1.5702
1.5656 | 1.5605 | 1.5555

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

MARKET ANALYSIS - Intraday Analysis

Instrument stabilized after the Friday’s appreciation. Currently pair is losing -0.11% from its opening price. If the price manages to stay above suggested support level at 1.5656 (S1), we expect the price to attack next resistance level at 1.5702 (R1). Clearance here is required for the instrument strengthening, next expected target holds at 1.5755 (R2). Any further rise would be limited by last resistance at 1.5805(R3) intraday. On the other hand, drop below support level at 1.5656 (S1) would suggest next target at 1.5605 (S2). Final support level for today holds at 1.5555 (S3).

USDJPY : 78.305 / 78.310
DAILY WEEKLY MONTHLY

78.79 | 78.60 | 78.41
78.14 | 77.92 | 77.70

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

MARKET ANALYSIS - Intraday Analysis

We are not expecting significant volatility increase today however BoJ Monetary Policy Meeting Minutes at 23:50 GMT might assist to the trend development. A break above the first resistance level at 78.41 (R1) would suggest next target at 78.60 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 78.79 (R3). On the other hand, if the price does not manage to break above 78.41 (R1) we can expect the pair to retest support at 78.14 (S1) and a further fall will be targeted at 77.92 (S2). Successful brake here might expose last target at 77.70 (S3).

Source: FX Central Clearing Ltd, ( ECN Forex Trader | Forex Strategies | Forex Trading Software | FXCC )[/b]

alayoua · August 14, 2012, 2:41am

[B]Market Overview by FXCC Aug 14 2012

BoJ minutes: members continue to pursue powerful easing

Minutes of the Monetary Policy Meeting in Japan on July 11 and 12 have been published, without any significant surprise. Comparing the forecasts in the April 2012 Outlook for Economic Activity and Prices, BoJ minutes reads: “Growth prospects will likely remain broadly unchanged. With regard to prices, the year-on-year rate of change in the domestic corporate goods price index will likely be somewhat lower for fiscal 2012 but broadly in line with the April forecasts for fiscal 2013. The year-on-year rate of change in the CPI (all items less fresh food) is expected to be broadly in line with the April forecasts.”

London session ahead will be a busy one in terms of EUR macro data related, with main risk event for the European morning in the form of German ZEW economic sentiment at 09:00 GMT. But earlier will come French prelim 2Q GDP and CPI m/m, followed by German prelim 2Q GDP at 06:00 GMT, French jobs data 45 minutes later, EUR flash GDP at same time than ZEW, and EU industrial production. Following US session will bring more key figures like US PPI and retail sales at 12:30 GMT which usually move markets. In the GBP front the UK will publish its CPI numbers on yearly basis at 08:30 GMT, which could bring volatility to EUR/GBP cross. In the EZ sovereign debt auctions arena Greece will try to sell up to € 3.125 B worth in 13 week bills. (fxstreet.com)
Read More
FXCC Market Update 14-08-2012

UPCOMING EVENTS :
2012-08-14 08:30 GMT | United Kingdom. Consumer Price Index (YoY) (Jul)
2012-08-14 09:00 GMT | E.M.U. Gross Domestic Product (Q2). Preliminar
2012-08-14 09:00 GMT | Germany. ZEW Survey - Economic Sentiment (Aug)
2012-08-14 12:30 GMT | United States. Retail Sales (MoM) (Jul)

FOREX NEWS :
2012-08-14 04:31 GMT | GBP/USD within 20-pip range below 1.5700
2012-08-14 03:35 GMT | AUD/NZD respecting resistance at 1.3050
2012-08-14 01:16 GMT | AUD/CAD main risk geared to the downside
2012-08-13 23:59 GMT | AUD/USD set for deeper correction?

EURUSD : 1.23567 / 1.23570
DAILY WEEKLY MONTHLY

1.2513 | 1.2444 | 1.2376
1.2310 | 1.2240 | 1.2164

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

MARKET ANALYSIS - Intraday Analysis

Germany Economic Sentiment release and E.M.U GDP release at 09:00 GMT in focus today as major market drivers. We suggest next resistance level for today at 1.2376 (R1), yesterday high. Rise above it might lead to the trend development with next targets at 1.2444 (R2). Further appreciation is possible in case of successful clearance here, last suggested target at 1.2513 (R3). Downside direction is limited by next support level at 1.2310 (S1), loss of which will lead to the next target at 1.2240 (S2). Brake here would enable last support level at 1.2164 (S3) as final target for today.

GBPUSD : 1.56905 / 1.56912
DAILY WEEKLY MONTHLY

1.5805 | 1.5762 | 1.5718
1.5672 | 1.5625 | 1.5577

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

MARKET ANALYSIS - Intraday Analysis

Consumer Price index release at 08:30 GMT might provide us with the market sentiment for the remaining of the day. Essential resistance for today holds at 1.5718 (R1), yesterday fresh high. Rising up above this level might be a signal for uptrend development with next targets at 1.5762 (R2) and 1.5805 (R3). On the other point, if the market manage to brake next support level at 1.5672 (S1), next implied targets would be at 1.5625 (S2) and 1.5577 (S3).

USDJPY : 78.450 / 78.455
DAILY WEEKLY MONTHLY

78.79 | 78.65 | 78.49
78.35 | 78.16 | 77.99

SUMMARY : Sideway
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

Today pair appreciates by 0.15% at the current moment. From the technical side, next resistance level lie at 78.49 (R1), clearance here might provide potential to go higher. Next expected target would be at 78.65 (R2), any further gains would be limited by last resistance for today at 78.79 (R3), psychological level. Risk of price depreciation is seen below next support at 78.35 (S1). Price progress below it might expose next target at 78.16 (S2). Brake here is required to put in focus last support level at 77.99 (S3) as intraday final target

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

alayoua · August 15, 2012, 2:51am

[B]Market Overview by FXCC Aug 15 2012

EUR little moved with half Europe closed on holidays

EUR/USD has just had another quiet and slow Asia-Pacific trading session, last at 1.2323, slightly above opening and session lows price at 1.23156, and below session highs at 1.2332, thus counting for a 16 pip range trading session. Nothing too exciting. The pair comes from a weekly high yesterday at 1.2385 following better than expected German prelim GDP, and holding above yesterday’s lows and support at 1.2320. Local share markets are over all in the red, with Nikkei index below the 8900 points down -0.60%.

London session ahead will have to deal with half Europe closed on holidays, and no EUR macro data related at all, not even EZ sovereign debt auctions, and only UK unemployment figures coming out due at 08:30 GMT, which could bring volatility to the EUR/GBP cross. According to VIX, index that measures volatility in SP500 index put options, it is reading at a 5 year lows, which in some way shows how these markets are lacking movement as of late. European futures point to a lower open, according to Bloomberg. (fxstreet.com
Read More
FXCC Market Update 15-08-2012

UPCOMING EVENTS :
2012-08-15 08:30 GMT | United Kingdom. Bank of England Minutes
2012-08-15 12:30 GMT | United States. Consumer Price Index (Jul)
2012.08.15 13:15 GMT | United States. Industrial Production (Jul)
2012.08.15 14:30 GMT | United States. EIA Crude Oil Stocks change (Aug 10)

FOREX NEWS :
2012-08-15 04:37 GMT | GBP/USD investors await further cues, BoE eyed
2012-08-15 03:56 GMT | GBP/AUD erases all Aug losses back above 1.49
2012-08-15 03:51 GMT | GBP/JPY consolidating after overnight gains
2012-08-15 02:07 GMT | WSJ story adds pressure on Aussie longs

EURUSD : 1.23303 / 1.23307
DAILY WEEKLY MONTHLY

1.2445 | 1.2405 | 1.2385
1.2310 | 1.2295 | 1.2270

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

MARKET ANALYSIS - Intraday Analysis

United States Consumer Price Index release at 08:30 GMT is the next macroeconomic data in focus. Next resistance level holds at 1.2385 (R1) level. Clearance here is required for instrument strengthening, next expected target at 1.2405 (R2). Further price appreciation would then be limited by last resistance level for today at 1.2445 (R3). On the other hand, possible price decline might arise below the next support level at 1.2310 (S1). We suggest next target at 1.2295 (S2), successful brake here would enable next target for today at 1.2270 (S3).

GBPUSD : 1.56746 / 1.56752
DAILY WEEKLY MONTHLY

1.5805 | 1.5765 | 1.5725
1.5600 | 1.5570 | 1.5535

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

MARKET ANALYSIS - Intraday Analysis

Bank of England minutes at 08:30 GMT might bring additional volatility to the markets. Our next resistance level locates today at 1.5725 (R1). Break above that level would suggest target at 1.5765 (R2), technical level for the Bulls. Rise above it will then focus on 1.5805 (R3), last resistance level. For the downside development, fall below next support level at 1.5600 (S1) would open way for the next expected target at 1.5570 (S2). Further easing might face final support at 1.5535 (S3) level.

USDJPY : 78.793 / 78.798
DAILY WEEKLY MONTHLY

79.39 | 79.05 | 78.90
78.35 | 78.16 | 77.99

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

MARKET ANALYSIS - Intraday Analysis

USDJPY remains to be traded in a range mode. Possible trend development is seen above next resistance level at 78.90 (R1). Break here is required to open way for further appreciation with next targets at 79.05 (R2) and 79.39 (R3) in extension. On the other hand, price decline towards to our support levels at 78.35 (S1) could trigger further Bearish pressure targeting our next support level at 78.16 (S2). A break below it would suggest last target for today at 77.99 (S3).

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

alayoua · August 16, 2012, 4:33am

[B]Market Overview by FXCC Aug 16 2012

Late 2012/early 2013 best guess for next QE3 - Goldman Sachs

Goldman Sachs chief economist Jan Hatzius recent note to clients warns of the increasing possibility of further delays on the Fed communicating the next easing package to the market. “While QE3 at the September 12-13 FOMC meeting remains possible, our best estimate is that it will take until late 2012/early 2013 before Fed officials return to balance sheet expansion.”

London session ahead will be another one again with almost no EUR macro data related to be released, but EU CPI figures at 09:00 GMT as most critical, while in the EZ sovereign debt auctions front there was a Spanish one that has been canceled. Risk premium between Germany and Spain fell yesterday to a several days low around the 500bps, with German yields rising as risk sentiment is improving, and Spanish 10y yields remaining range-bound below the key 7%. Much worse FDI figures today coming from China showing a decrease in -8.7% in Foreign Direct Investment (YoY) (Jul) have been helping the recent rise in USD. (fxstreet.com)
Read More
FXCC Market Update 16-08-2012

UPCOMING EVENTS :
2012-08-16 08:30 GMT | United Kingdom. Retail Sales (YoY) (Jul)
2012-08-16 09:00 GMT | E.M.U. Consumer Price Index (YoY) (Jul)
2012-08-16 12:00 GMT | United States. Building Permits (MoM) (Jul)
2012-08-16 14:00 GMT | United States. Philadelphia Fed Manufacturing Survey (Aug)

FOREX NEWS :
2012-08-16 04:33 GMT | GBP/USD range bound, UK Retail Sales on offer
2012-08-16 03:59 GMT | AUD/USD top heavy, still above 21-day EMA
2012-08-16 03:51 GMT | AUD/NZD ranging above 1.3000
2012-08-16 03:06 GMT | GBP/JPY aiming toward key Fibo resistance

EURUSD : 1.22709 / 1.22714
DAILY WEEKLY MONTHLY

1.2373 | 1.2344 | 1.2310
1.2263 | 1.2224 | 1.2183

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

MARKET ANALYSIS - Intraday Analysis

Yesterday instrument dropped below our suggested support level at 1.2310 and met our target at 1.2270. Instrument stabilized on the Asian session and we expect further decrease later on today as major scenario, however clearance of next resistance level at 1.2310 (R1) would open road to the next targets at 1.2344 (R2) and 1.2373 (R3). Our next support level at locates at 1.2263 (S1), technically important level (Yesterday low). Loss here might encourage executing of orders and drive market price towards to the next targets at 1.2224 (S2) and 1.2183 (S3) levels.

GBPUSD : 1.56421 / 1.56424
DAILY WEEKLY MONTHLY

1.5778 | 1.5740 | 1.5703
1.5659 | 1.5623 | 1.5583

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD continue its sideways movements. We suggest waiting for a clear signal of directional movement. Next important technical resistance stay at 1.5703 (R1), brake here is required for market expansion towards to next target at 1.5740 (R2) and any further increase would be limited by final resistance at 1.5778 (R3). Failure to go higher might push markets to retest previous day low at 1.5659 (S1), which is currently our next support level. Brake here would suggest next target at 1.5623 (S2) and any further fall would then be limited by last support at 1.5583 (S3).

USDJPY : 79.282 / 79.286
DAILY WEEKLY MONTHLY

79.84 | 79.64 | 79.45
79.05 | 78.85 | 78.63

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

MARKET ANALYSIS - Intraday Analysis

On the Asian session we saw significant volatility increase and market provide us with a clear signal of uptrend development. Currently USDJPY gained +0.46 % and we expect further appreciation towards to our next resistance levels at 79.45 (R1) and 79.64 (R2) later on today. Intraday price increase looks limited by last resistance level at 79.84 (R3). Development of the correction is possible from current levels. Next support level locates at 79.05 (S1), brake here would suggest next targets at 78.85 (S2) and 78.63 (S3) in potential.

Source: FX Central Clearing Ltd,( Forex Calculator | ECN Forex Training | Forex Demo Account | FXCC )[/B]

alayoua · August 17, 2012, 2:52am

[B]Market Overview by FXCC Aug 17 2012

Antipodean intervention highly unlikely - ANZ

Direct currency intervention is highly unlikely in Australia or New Zealand in the near term, according to Richard Yetsenga, Andrew Salter & David Croy, strategist at ANZ. “Neither currency is sufficiently over-valued, and it seems unlikely that intervention would be effective.” More broadly, “we may be in the early stages of a secular shift in the mix of monetary conditions, involving the combination of stronger currencies and lower interest rates” the team adds.

London session ahead will bring a soft agenda again in EUR macro related terms, starting with Germany PPI at 06:00 GMT, followed by EU current account 2 hours later, and EU trade balance at 09:30 GMT, and no sovereign EZ debt auction on sight for this Friday, as usual for Fridays, with Spanish yields falling while Germany ones rising, thus narrowing their risk premium. Even though session promises to be a quiet one, given current low liquidity conditions, and Spanish gov council meeting today, this could bring some surprising headlines around causing some wide moves. (fxstreet.com)
Read More
FXCC Market Update 17-08-2012

UPCOMING EVENTS :
2012-08-17 06:00 GMT | Germany. Producer Price Index (YoY) (Jul)
2012-08-17 09:00 GMT | E.M.U. Trade Balance(Jun)
2012-08-17 12:30 GMT | Canada. Consumer Price Index (YoY) (Jul)
2012-08-17 13:55 GMT | United States. Michigan Consumer Sentiment Index (Aug)

FOREX NEWS :
2012-08-17 04:35 GMT | EUR/USD holding around Fib 1.2340
2012-08-17 04:34 GMT | GBP/USD top-heavy in late Asia
2012-08-17 03:38 GMT | AUD/JPY consolidates below 83.50
2012-08-17 03:19 GMT | AUD/USD drops to session lows, manages to stay around 1.0500

EURUSD : 1.23550 / 1.23551
DAILY WEEKLY MONTHLY

1.2430 | 1.2401 | 1.2373
1.2330 | 1.2298 | 1.2264

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

MARKET ANALYSIS - Intraday Analysis

Yesterday, EURUSD hit our support level at 1.2263 but did not manage to stabilize below it and reversed above our resistance level at 1.2310. Our suggested target was met at 1.2344 successfully. Next resistance level and target for yesterday remain at 1.2373 (R1). Rise above it might lead to the further trend development with next targets at 1.2401 (R2) and 1.2430 (R3) in potential today. Downside direction is limited by next support level at 1.2330 (S1), price decrease below it would be targeting next support at 1.2298 (S2). Brake here would suggest last support level at 1.2264 (S3) as final target for today.

GBPUSD : 1.57120 / 1.57128
DAILY WEEKLY MONTHLY

1.5815 | 1.5778 | 1.5740
1.5687 | 1.5653 | 1.5617

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD maintained correction by penetrating below our suggested support level at 1.5659 yesterday. After that pair continued moving upwards above our suggested resistance level at 1.5703 and reached our target at 1.5740. Next resistance for today holds at the same level - 1.5740 (R1). Rising up above this level might suggest next targets at 1.5778 (R2) and 1.5815 (R3) in potential. On the other point, if the market manage to brake next support level at 1.5687 (S1), we might see pull back development with possible targets at 1.5653 (S2) and 1.5617 (S3).

USDJPY : 79.372 / 79.376
DAILY WEEKLY MONTHLY

79.83 | 79.63 | 79.45
79.23 | 79.05 | 78.85

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

MARKET ANALYSIS - Intraday Analysis

Pair moved upwards but did not manage to hit any of our resistance levels. Our resistance levels remain the same as yesterday. Next resistance level lie at 79.45 (R1), clearance here might provide potential to go higher. Next expected target would be at 79.63 (R2) and any further gains would then be limited by last resistance at 79.83 (R3). Risk of price depreciation is seen below next support at 79.23 (S1). Price progress below it might expose next target at 79.05 (S2). Brake here is required to put in focus last support level at 78.85 (S3) as intraday final target.

Source: FX Central Clearing Ltd,( [Forex Blog | Forex Market Hours | ECN Automated Forex Trading] | FXCC](http://www.fxcc.com) )[/B]

alayoua · August 21, 2012, 2:37am

[B]Market Overview by FXCC Aug 20 2012

Market sentiment set for September boost – Wells Fargo

With global equities up 11% from their June trough and while market volatility is at multi-year lows, Wells Fargo has noted a cautiously positive tone in FX in recent weeks: “Looking ahead, we expect European events to evolve favorably overall in September, which could further boost market sentiment,” says Wells Fargo in a research note. “Against this backdrop, the euro could see a further corrective rally towards $1.2750 and perhaps even $1.3000. For commodity and emerging currencies, we see the Canadian dollar, Mexican peso and Singapore dollar as candidates for currency appreciation.”

In another typical summer holiday session in Europe, the London session ahead will bring a blank economic agenda with no major risk events EUR related. In the sovereign debt auctions front Spain will focus the attention selling up to € 4.5B in 12-18 month bills, while its 10 year yields hit a new 7-week lows at 6.16% yesterday and the risk premium with Germany below the 500 bps. Headlines will keep driving market action on constant speculation about the future of the euro crisis. Starting tomorrow, several key meetings will take place among EZ leaders to deal on current situation.
Read More
https://support.fxcc.com/email/technical/21082012/

UPCOMING EVENTS :
2012-08-21 08:30 GMT | United Kingdom. Public Sector Net Borrowing (Jul)
2012-08-21 10:00 GMT | United Kingdom. CBI Industrial Trends Survey - Orders (MoM) (Aug)
2012-08-21 17:00 GMT | Canada. BoC Governor Council Member Cote Speaks
2012-08-21 23:50 GMT | Japan. Merchandise Trade Balance Total (Jul)

FOREX NEWS :
2012-08-21 04:28 GMT | GBP/USD aiming higher, UK public finances eyed
2012-08-21 04:24 GMT | EUR/USD stretching around 1.2350
2012-08-21 02:05 GMT | EUR/AUD dips to session lows post-RBA
2012-08-21 01:53 GMT | AUD/NZD headed lower in a 6-9 month time horizon - BNZ

EURUSD : 1.23592 / 1.23597
DAILY WEEKLY MONTHLY

1.2408 | 1.2389 | 1.2369
1.2341 | 1.2321 | 1.2301

SUMMARY : Sideway
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

EURUSD moved without priority in direction yesterday’s trading session. Currently pair is stabilized above our suggested resistance level at 1.2354. Today we are not expecting significant volatility increase on the markets however break above next resistance level at 1.2369 (R1) would suggest next target at 1.2389 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 1.2408 (R3). On the other hand, loss of next support at 1.2341 (S1) might lead to the further correction development and expose targets at 1.2321 (S2) and 1.2301 (S3) levels.

GBPUSD : 1.57260 / 1.57265
DAILY WEEKLY MONTHLY

1.5802 | 1.5775 | 1.5744
1.5702 | 1.5672 | 1.5643

SUMMARY : Sideway
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

GBPUSD successfully penetrated above our expected resistance level at 1.5714 and now is moving toward to our next technically important resistance level at 1.5744 (R1). Clearance here would suggest next target at 1.5775 (R2), and any further rise would then be limited by last resistance at 1.5802 (R3) intraday. From the other side, loss of next support level at 1.5702 (S1) might encourage executing of orders and drive market price towards to the next target at 1.5672 (S2). Brake here is required to put in focus final support level at 1.5643 (S3) levels.

USDJPY : 79.299 / 79.304
DAILY WEEKLY MONTHLY

79.86 | 79.66 | 79.48
79.17 | 78.98 | 78.78

SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

As expected yesterday, USDJPY continued its correction development and declined below our suggested support level at 79.37. Currently instrument is targeting our next support level at 79.17 (S1). Brake here would suggest next target at 78.98 (S2) and any further fall would then be limited by last support at 78.78 (S3). From the upper side, next resistance level locates at 79.48 (R1), rise above it would enable next target at 79.66 (R2), technically important level for the market sentiment change. Brake he might lead to the further uptrend development with expected target at 79.86 (R3).

Source: FX Central Clearing Ltd, ( Forex Strategy | ECN Forex Trading Systems | Forex Exchange Rates | FXCC )[/B]

alayoua · August 22, 2012, 2:32am

[B]Market Overview by FXCC Aug 22 2012

Forget AUD intervention; RBA rate cuts far more likely - UBS

AUDUSD failed to have a close above 1.05 on Tuesday, with today’s price action printing steady declines since the opening of the Australian market. Yesterday, the RBA signaled that remains in a wait-and-see mode as the effects of previous rate cuts continue to percolate through the economy. According to UBS strategist Chris Walker, “attention now shifts to Governor Stevens’ semi-annual parliamentary testimony on August 24, especially in the wake of the Treasury’s comments last week highlighting the strength of the currency.” UBS very much doubt the RBA is poised to intervene in the currency markets, and “if the tightening impact of a strong currency eventually becomes too severe, the bank is far more likely to respond with rate cuts rather than a round of FX intervention” Chris adds.

For second day in a row no major EUR macro data related will be released during London session hours, leaving main risk events for the NY session ahead, starting with US new home sales at 14:00 GMT followed by FOMC minutes at 18:00 GMT. In the sovereign debt auctions front Germany will sell up to € 5B in 2 year federal notes at 06:00 GMT, while Spain had a good auction yesterday and its 10 year yields are down for 10th consecutive day around 6.2%, and risk premium with Germany below the 500bps.
Read More
https://support.fxcc.com/email/technical/22082012/

2012-08-22 12:30 GMT | Canada. Retail Sales (MoM) (Jun)
2012-08-22 14:00 GMT | United States. Existing Home Sales (MoM) (Jul)
2012-08-22 15:00 GMT | Canada. BoC Governor Mark Carney Speech
2012-08-22 18:00 GMT | United States. FOMC Minutes

2012-08-22 04:38 GMT | GBP/USD: sideways above 200 EMA
2012-08-22 03:48 GMT | EUR/JPY consolidates below 100-day EMA
2012-08-22 03:24 GMT | GBP/AUD should press higher in coming weeks - Westpac
2012-08-22 02:20 GMT | EUR/AUD extends above key Fibo resistance

EURUSD : 1.24679 / 1.24684
DAILY WEEKLY MONTHLY

1.2559 | 1.2524 | 1.2488
1.2447 | 1.2415 | 1.2383

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

MARKET ANALYSIS - Intraday Analysis

Yesterday we saw significant volatility increase. EURUSD broke up our resistance level at 1.2369 and reached our final target at 1.2408. Technically, market sentiment is “Bullish” now and we expect further instrument appreciation on the medium term perspective. Further price increase is expected above the next resistance level at 1.2488 (R1). Brake here is required to enable next targets at 1.2524 (R2) and 1.2559 (R3). On the other hand, consolidation looks reasonable today. Price progress below the next support level at 1.2447 (S1) might expose next targets at 1.2415 (S2) and 1.2383 (S3) in potential.

GBPUSD : 1.57889 / 1.57898
DAILY WEEKLY MONTHLY

1.5855 | 1.5830 | 1.5804
1.5765 | 1.5740 | 1.5717

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD appreciated yesterday above the expected resistance level at 1.5744 and met our last suggested target at 1.5802. Next resistance level ahead locates at 1.5804 (R1), brake here is required to enable next target at 1.5830 (R2) and any further rise would then be limited to 1.5855 (R3). However development of the price retracement is reasonable today. Instrument depreciation below the next support level at 1.5765 (S1) might expose next targets at 1.5740 (S2) and 1.5717 (S3) in potential.

USDJPY : 79.273 / 79.277
DAILY WEEKLY MONTHLY

79.86 | 79.66 | 79.48
79.17 | 78.98 | 78.78

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

MARKET ANALYSIS - Intraday Analysis

USDJPY hit our resistance level at 79.48 and continued moving lower. All supports and resistance levels remain the same as yesterday. If the market manage to climb above our next resistance level at 79.48 (R1), we expect next target to be achieved at 79.66 (R2) and any further rise would then be targeting to 79.86 (R3). Clear brake below the 79.17 (S1) would enable next target at 78.98 (S2). Successful clearance here is required to put in pocus final support level at 78.78 (S3), intraday.

Source: FX Central Clearing Ltd, ( ECN Forex Indicators | Learn Forex | Trade Forex | FXCC )[/B]

alayoua · August 23, 2012, 2:35am

[B]Market Overview by FXCC Aug 23 2012

FOMC minutes more dovish than statement suggested - Nomura

The clearest conclusion from the Minutes, according to Nomura economist, is that “the committee appears poised to extend its interest rate guidance at the next meeting, while also suggesting the Committee is closer to implementing another round of LSAPs than was apparent before.” It isn’t clear, however, how the Committee will interpret the recent improvement in economic data, says Nomura: “The recent increase in payroll employment and retail sales were released after the meeting; if the Committee is likely to initiate a new round of LSAP at their meeting in September Chairman Bernanke may signal that intent in his remarks at the Jackson Hole Symposium on Friday, August 31.”

London session ahead will bring again plenty of minor EUR data related after few days lacking of it, starting with German final GDP at 06:00 GMT, followed by flash French PMI 58 minutes later, German flash PMI 30 minutes after, and EU PMI another 30 minutes later. For the late part of London session and early NY will come US initial jobs claims at 12:30 GMT and US new home sales at 14:00 GMT.
Read More
https://support.fxcc.com/email/technical/23082012/

UPCOMING EVENTS :
2012-08-23 07:58 GMT | E.M.U. Markit Manufacturing PMI (Aug). Preliminar
2012-08-23 12:30 GMT | United States. Initial Jobless Claims (Aug)
2012-08-23 14:00 GMT | United States. New Home Sales (MoM) (Jul)
2012-08-23 22:45 GMT | New Zealand. Trade Balance (YoY) (Jul)

FOREX NEWS :
2012-08-23 04:33 GMT | GBP/USD steady around 1.59, EU data eyed
2012-08-23 02:40 GMT | China: Flash PMI drops to 47.8 in August
2012-08-23 01:58 GMT | NZD/USD maintains bullish profile
2012-08-23 00:24 GMT | USD/JPY consolidating losses above 78.50

EURUSD : 1.25388 / 1.25391
DAILY WEEKLY MONTHLY

1.2628 | 1.2594 | 1.2559
1.2520 | 1.2486 | 1.2448

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

MARKET ANALYSIS - Intraday Analysis

EURUSD dropped below the suggested support levels at 1.2447 yesterday but did not manage to stabilize below it and reversed. Currently pair is moving towards to our target at 1.2559 (R1). Clearance here would suggest next targets at 1.2594 (R2) and 1.2628 (R3). The downside trend evolvement is limited by next support level at 1.2520 (S1), surpassing of which might lead to the next targets at 1.2486 (S2) and 1.2448 (S3). EMU Manufacturing PMI (August) at 07:58 is the next macroeconomic data release in focus.

GBPUSD : 1.58944 / 1.58953
DAILY WEEKLY MONTHLY

1.6010 | 1.5972 | 1.5935
1.5874 | 1.5838 | 1.5805

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD moved above the expected resistance level at 1.5804 and reached our final target at 1.5885 yesterday. A further increase will then bring focus to the next resistance levels at 1.5935 (R1) and 1.5972 (R2). Final resistance can be found at 1.6010 (R3) level. Likely we might see retracement development later on today. Next support level holds at 1.5874 (S1). A break below that level would suggest next target at 1.5838 (S2), further fall would then focus on the last target for today at 1.5805 (S3).

USDJPY : 78.568 / 78.574
DAILY WEEKLY MONTHLY

79.13 | 78.93 | 78.73
78.29 | 78.10 | 77.91

SUMMARY : Down
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY gained momentum yesterday and reached our final target at 78.78. Technically, picture is not clear. Instrument almost recovers all previous week gains and formed fresh low yesterday at 78.29 (S1). Brake here might provide sufficient momentum and expose targets at 78.10 (S2) and 77.91 (S3) in potential. On the other side, further appreciation is expected above the next resistance level at 78.73 (R1) with next suggested targets at 78.93 (R2) and 79.13 (R3).

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

alayoua · August 24, 2012, 5:30am

[B]Market Overview by FXCC Aug 24 2012

Likelihood BOJ forced to ease remains high - Nomura

Following the deterioration in the Japanese trade balance in July, Nomura research team expects that while Japanese exports should recover going forward, the recent export weakness has one direct JPY negative implication. According to the bank, it puts further pressure on the BOJ to ease monetary policy again this year. “While US economic data are now suggesting a better near-term outlook, we think the likelihood of the BOJ being forced to ease remains high for the time being” the team notes.

Again London session ahead will show no EUR macro data related risk events on the agenda, with focus on Greek-EZ leaders meetings going on, today with Greek PM Samaras visiting German PM Merkel, and also on Spain possibly asking for the bailout as soon as mid Sept according to sources, with its risk premium back above the 500bps for German 10y yields. As usually for Fridays, no EZ sovereign debt auctions will take place today.
Read More
https://support.fxcc.com/email/technical/24082012/

UPCOMING EVENTS :
2012-08-24 07:45 GMT | Japan. BoJ’s Governor Shirakawa Speech
2012-08-24 08:30 GMT | United Kingdom. Gross Domestic Product (QoQ) (Q2)
2012-08-24 12:30 GMT | United States. Durable Goods Orders (Jul)
2012-08-24 13:00 GMT | Belgium. Leading Indicator (Aug)

FOREX NEWS :
2012-08-24 04:31 GMT | GBP/USD moving sideways around 1.5860
2012-08-24 02:39 GMT | EUR/AUD above 1.20; fresh 1-month highs
2012-08-24 00:50 GMT | RBA has not intervened in the FX market, Stevens says
2012-08-24 00:07 GMT | EUR/USD overbought, due for correction?

EURUSD : 1.25557 / 1.25562
DAILY WEEKLY MONTHLY

1.2676 | 1.2635 | 1.2594
1.2533 | 1.2490 | 1.2445

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

MARKET ANALYSIS - Intraday Analysis

EURUSD reached our target at 1.5935 yesterday. The Samaras-Merkel meeting might bring additional volatility to the markets. We expect that EURUSD might decline today however the medium term bias remains positive. For the short oriented market participants we suggest next targets at 1.2533 (S1), 1.2490 (S2) and 1.2445 (S3). Tendency reversal is possible from these levels. Uptrend development is limited by next resistance level at 1.2594 (R1). Brake here is essential for “Bullish” market participants. Suggested targets for today holds at 1.2635 (R2) and 1.2676 (R3)

GBPUSD : 1.58582 / 1.58593
DAILY WEEKLY MONTHLY

1.5996 | 1.5952 | 1.5912
1.5838 | 1.5805 | 1.5766

SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD remains to be traded in positive tone on the hourly chart. Next news in focus from UK is the Gross Domestic Product release at 08:30 GMT. Currently market trades below the suggested support level at 1.5874 and forming correction. Our next targets stay at the same levels: 1.5838 (S1) and 1.5805 (S2). If the market gains momentum we suggest last support at 1.5766 (S3). Key resistance level is placed above the fresh high, formed yesterday -1.5912 (R1). Expected targets for long direction are placed at 1.5952 (R2) and 1.5996 (R3).

USDJPY : 78.551 / 78.556
DAILY WEEKLY MONTHLY

79.13 | 78.93 | 78.73
78.29 | 78.10 | 77.91

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

MARKET ANALYSIS - Intraday Analysis

Today we have important news from Japan that might establish trading tone for a today - BoJ’s Governor Shirakawa Speech at 07:45 GMT. From the technical side, USDJPY is trading in a range mode at the current moment while medium term bias is negative. Our support and levels remain the same as yesterday - 78.29 (S1), 78.10 (S2) and last one at 77.91(S3). Possibility of the USDJPY strengthening is seen above the resistance at 78.73 (R1), targeting towards to levels at 78.93 (R2) and 79.13 (R3) in potential.

Source: FX Central Clearing Ltd, ( What Is Forex Trading | Forex Trading Signals | ECN Forex Trading Online | FXCC )[/B]

alayoua · August 27, 2012, 6:10am

[B]Market Overview by FXCC Aug 27 2012

Fed’s Jackson Hole conference key event this week - BNZ

The Fed’s Jackson Hole conference, due on Friday, is the event of the week. According to Mike Jones, currency strategist at Bank of New Zealand, “some of the market impact of Bernanke’s speech has been nullified by last week’s dovish Fed minutes.” The analyst adds: “The speech is expected to be used to map out the policy (easing) options facing the Fed. If this has the effect of hardening Fed easing expectations then the USD should continue to suffer.”

London session ahead will be a quiet one in regards of London closing for holidays and lack of macro economic data EUR related but German Ifo business climate at 08:00 GMT as the most important, preceded by German import price index at 06:00 GMT, and Chicago Fed Evans speaking at 10:00 GMT. In the euro zone sovereign debt auctions front, France and Germany will sell short term treasury bills.
Read More
https://support.fxcc.com/email/technical/27082012/

UPCOMING EVENTS :
2012-08-27 06:00 GMT | Japan. Machine Tool Orders (YoY) (Jul)
2012-08-27 08:00 GMT | Germany. IFO - Business Climate (Aug)
2012-08-27 14:30 GMT | United States. Dallas Fed Manufacturing Business Index (Aug)
2012-08-27 16:15 GMT | United States. FOMC Member Pianalto Speaks

FOREX NEWS :
2012-08-27 04:57 GMT | GBP/USD quiet around 1.58, outlook bearish – V.Bednarik
2012-08-27 04:21 GMT | EUR/NZD set to push above 55-day EMA?
2012-08-27 03:20 GMT | EUR reaches smallest net short position since May - Nomura
2012-08-27 01:41 GMT | AUD/USD falls sharply; Only China fix catalyst?

EURUSD : 1.25073 / 1.25078
DAILY WEEKLY MONTHLY

1.2635 | 1.2594 | 1.2547
1.2482 | 1.2446 | 1.2406

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

MARKET ANALYSIS - Intraday Analysis

On Friday EURUSD formed correction and reached our target at 1.2490. Today we expect quiet day ahead however technically important targets might be achieved lat. Upside direction is limited by the next resistance level at 1.2547 (R1), brake here would enable higher targets at important technical level 1.2594 (R2). Momentum on the upside direction might expose last target at 1.2635 (R3) in potential. Loss of the next support level at 1.2482 (S1) would put in focus next target at 1.2446 (S2) and any further fall would then be limited by last support at 1.2406 (S3).

GBPUSD : 1.58074 / 1.58085
DAILY WEEKLY MONTHLY

1.5911 | 1.5873 | 1.5838
1.5796 | 1.5766 | 1.5733

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD did not show the essential momentum on Friday and remained to be traded is sideways mode however our target at 1.5805 was achieved. Fresh low at 1.5796 (S1) is the next support level. Market penetration below it might encourage execution of the short trades and drive market price towards to the next target at 1.5766 (S2). Potential is seen to reach last support level at 1.5733 (S3) in perspective. For the long positions it is preferably to wait the 1.5838 (R1) brake out. We suggest next targets at 1.5873 (R2) and 1.5911 (R3) in potential.

USDJPY : 78.756 / 78.762
DAILY WEEKLY MONTHLY

79.37 | 79.14 | 78.93
78.62 | 78.45 | 78.28

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

MARKET ANALYSIS - Intraday Analysis

USDJPY broke our resistance level at 78.73 today and now moving towards to our next target at 78.93 (R1). Brake here would enable higher target at 79.14 (R2) and any further rise would then be limited by 79.37 (R3). The downtrend resuming is possible from these levels. On the other hand if price manage to stay below the next resistance at 78.93 (R1), we expect the price to retest our support at 78.62 (S1), brake below that level would suggest next targets at 78.45 (S2) and 78.28 (S3) where can be found the final support of the day.

Source: FX Central Clearing Ltd, ( Learn Forex Trading | ECN Forex Online Trading | Forex Trading Tips | FXCC )[/B]

alayoua · August 28, 2012, 3:13am

[B]Market Overview by FXCC Aug 28 2012

Fed to deliver further stimulus - JPM

JPM is quite dovish on the next Fed policy tools to deploy, expecting Ben Bernanke & Co. to provide additional stimulus to the economy by extending the rate-on-hold guidance out to mid-2015 and increasing asset purchases. The bank expects medium-term US paper getting a better bid tone ahead of the Sept 12-13 FOMC meeting. A more marked move will come via real yields as investors bet on higher inflation, says JPM head bond strategist Terry Belton.

For the London session ahead the economic agenda will be soft once again in EUR macro data related terms, with Germany GFK consumer sentiment at 06:00 GMT, followed by Spanish final GDP 1 hour later, and EU M3 money supply at 08:00 GMT. At 11:00 GMT is expected EU’s Van Rompuy will meet Spanish PM Rajoy, which could bring some headlines to the table giving some volatility to current thin markets, coupled with both Spanish and Italian short term sovereign debt auctions to be held today, Spain to sell up to €3.5B in 3 and 6 month bills. Spanish 10y bond yields hold near mid 6%s with risk premium with Germany around the 500bps.
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UPCOMING EVENTS :
2012-08-28 06:00 GMT | Germany. Gfk Consumer Confidence Survey (Sep)
2012-08-28 06:00 GMT | Switzerland. UBS Consumption Indicator (Jul)
2012-08-28 08:00 GMT | European Monetary Union. M3 Money Supply (3m) (Jul)
2012-08-28 14:00 GMT | United States. Consumer Confidence (Aug)

FOREX NEWS :
2012-08-28 04:32 GMT | GBP/USD maintains bearish profile
2012-08-28 03:51 GMT | EUR/USD in holding pattern ahead of risk events - OCBC
2012-08-28 02:53 GMT | AUD/USD continues to grind lower
2012-08-28 01:28 GMT | Risk off swings boost USD, JPY

EURUSD : 1.24836 / 1.24841
DAILY WEEKLY MONTHLY

1.2594 | 1.2547 | 1.2508
1.2446 | 1.2406 | 1.2369

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

MARKET ANALYSIS - Intraday Analysis

Market remains in uptrend after some consolidation provided yesterday. Instrument dropped below the suggested support level at 1.2482 and now is moving towards to our target at 1.2446 (S1). Brake here is required for further correction development towards to next target at 1.2406 (S2). Last support level locates today at 1.2369 (S3). Failure to go lower would put in focus next resistance at 1.2508 (R1), brake here is required to enable next targets at 1.2547 (R2) and 1.2594 (R3), important technical level.

GBPUSD : 1.57882 / 1.57893
DAILY WEEKLY MONTHLY

1.5892 | 1.5861 | 1.5827
1.5753 | 1.5717 | 1.5681

SUMMARY : Down
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The market is intended to go lower in medium term perspective. Yesterday instrument dropped below the expected support level at 1.5796 and finally reached our target at 1.5766 today. Technically, next support level locates at today fresh low 1.5753 (S1), pushdown of the price is possible below this level. We suggest next targets at 1.5717 (S2) and 1.5681 (S3). Failure to go lower suggested support level might put in focus our next resistance level at 1.5827 (R1), brake here would suggest new targets at 1.5861 (R2) and 1.5892 (R3).

USDJPY : 78.509 / 78.514
DAILY WEEKLY MONTHLY

79.21 | 79.02 | 78.83
78.45 | 78.28 | 78.11

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

MARKET ANALYSIS - Intraday Analysis

USDJPY depreciated today below the expected support level at 78.62 and almost reach our next target at 78.45 (S1). We expect further easing towards to our targets later on today however there is no clear tendency on the market now. Possible execution of protective orders below the support level at 78.45 (S1) might drive market price toward to our lower targets at 78.28 (S2) and 78.11 (S3). On the other hand, if market go higher and continue to be traded in sideways we suggest waiting for a clear brake of the next resistance level at 78.83 (R1). Next expected target at 79.02 (R2).

Source: FX Central Clearing Ltd, ( Forex Trading Course | Forex Trading Blog | ECN Forex Trading Training | FXCC )[/B]

alayoua · August 29, 2012, 2:45am

[B]Market Overview by FXCC Aug 29 2012

ECB has no choice but buy periphery gvrt debt - Nomura

ECB purchases of periphery debt would be effective in ending a dysfunctional government bond marke, says Nomura economist Richard Koo. “While longer-term answers to this eurozone-specific problem include fiscal stimulus to tackle the balance sheet recession itself and a rule that addresses the issue of capital flight by restraining, given that both of those measures will probably take years to implement, the only short-term option is to have the ECB buy the government debt of peripheral countries” the economist said in a research note.

London session ahead will be another quiet one in terms of EUR macro data related coming out, with only French business confidence at 06:45 GMT, followed by Italian consumer confidence and retail sales at 08:00 GMT, and German CPI at 12:00 GMT. In the sovereign debt auctions front Italy will sell 6-month bills, with 10 year bond yields on the rise at 5.82% last, coming from multi-week lows Aug 22 at 5.56% for Italy. There will also be some meetings among different EU leaders going on which could actually produce some headlines.
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UPCOMING EVENTS :
2012-08-29 07:00 GMT Switzerland. KOF Leading Indicator (Aug)
2012-08-29 12:00 GMT Germany. Harmonised Index of Consumer Prices (YoY) (Aug). Preliminar
2012-08-29 12:30 GMT United States. Gross Domestic Product Annualized (Q2)
2012-08-29 18:00 GMT United States. Fed’s Beige Book

2012-08-29 04:32 GMT GBP/USD holds bullish stance – V.Bednarik
2012-08-29 04:11 GMT GBP/JPY: Hikkake prints at key support
2012-08-29 03:42 GMT EUR/USD, watch resistance at 1.2600
2012-08-29 02:02 GMT USD on demand in Asia

EURUSD : 1.25567 / 1.25571
DAILY WEEKLY MONTHLY

1.2633 | 1.2604 | 1.2576
1.2543 | 1.2513 | 1.2481

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

MARKET ANALYSIS - Intraday Analysis

The “Bullish” sentiment took up the EURUSD. Instrument reached our target at 1.2547. Potential of going higher is seen today above the next resistance at 1.2576 (R1), surpassing of this level would suggest higher targets at 1.2604 (R2) and 1.2633 (R3). If it fail to go higher, we might see retracement development below the next support level at 1.2543 (S1) towards to next target at 1.2513 (S2). Brake here is required to enable last support level at 1.2481 (S3).

GBPUSD : 1.58147 / 1.58155
DAILY WEEKLY MONTHLY

1.5913 | 1.5887 | 1.5838
1.5797 | 1.5772 | 1.5747

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD currently is under the “Bullish” pressure and moving towards to our suggested yesterday target at 1.5838 (R1), our next resistance level. Brake here would suggest new target at 1.5887 (R2) and any further rise would then be limited to 1.5913 (R3) intraday. Next support level stay at 1.5797 (S1), brake below it might provide a downside priority in direction for the remaining of the day. Next suggested targets at 1.5772 (S2) and 1.5747 (S3) in potential.

USDJPY : 78.580 / 78.584
DAILY WEEKLY MONTHLY

79.02 | 78.83 | 78.65
78.45 | 78.28 | 78.11

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

MARKET ANALYSIS - Intraday Analysis

Technically instrument remain trading in a range mode. A break above the first resistance level at 78.65 (R1) would suggest a target at 78.83 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 79.02 (R3) in perspective. All our support levels remain the same as yesterday. Key support level holds at 78.45 (S1). If the pair manage to brake here, we expect next target 78.28 (S2) and any further fall would then be limited to 78.11 (S3).

Source: FX Central Clearing Ltd, ( Forex Trading Hours | Forex Trading Strategy | ECN Forex Trading Tutorial | FXCC )[/B]

alayoua · August 30, 2012, 7:02am

[B]Market Overview by FXCC Aug 30 2012

Iron ore collapse has huge implications for the Australian economy - Macquarie Group

The tumbling iron ore price has the Aussie bulls on the edge after Iron ore fell nearly 5% overnight to $90.30 a tonne, down now 23% since the end of July. If commodity prices do not recover, Senior Economist at Macquarie Brian Redican sees A$10 billion of cuts would be needed for the Australian Government to achieve a 2013 surplus.

London session ahead will be a busier one than the days before, with main focus on Italian 10 year sovereign bond auction, with previous auction’s yield at 5.96%. Apart from that EU’s Barroso speaks at European Forum Alpach in Viena at 09:00 GMT which could bring some headlines. In the EUR data related front Spain delivers CPI at 07:00 GMT, followed 55 minutes later by German unemployment rate, and Italian hourly wages 5 minutes after. Then at the same time Barroso speaks EU and Italy consumer sentiment data will be out. The Jackson Hole symposium finally starts today as well.
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UPCOMING EVENTS :
2012-08-30 07:55 GMT | Germany. Unemployment Change (Aug)
2012-08-30 08:30 GMT | United Kingdom. Mortgage Approvals (Jul)
2012-08-30 09:00 GMT | European Monetary Union. Consumer Confidence (Aug)
2012-08-30 12:30 GMT | United States. Core Personal Consumption Expenditure - Prices Index (YoY) (Jul)

FOREX NEWS :
2012-08-30 02:52 GMT | EUR/USD still bid above 100-day EMA
2012-08-30 04:30 GMT | GBP/USD steady around 1.5825 ahead of Europe
2012-08-30 00:45 GMT | AUD/USD heading towards 200-day MA; Fitch warns on steel, iron ore outlook
2012-08-30 00:18 GMT | USD/JPY still without direction

EURUSD : 1.25353 / 1.25359
DAILY WEEKLY MONTHLY

1.2633 | 1.2604 | 1.2576
1.2513 | 1.2481 | 1.2451

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

MARKET ANALYSIS - Intraday Analysis

EURUSD penetrated below the suggested support level at 1.2543 yesterday and made an attempt to go lower. Today we expect further depreciation as main scenario towards to our targets. However clearance of next resistance at 1.2576 (R1) might open way for the next target attack at 1.2604 (R2). Our next target for short positions locates at 1.2513 (S1), loss here would enable lower supports at 1.2481 (S2) and 1.2451 (S3) in perspective.

GBPUSD : 1.58229 / 1.58238
DAILY WEEKLY MONTHLY

1.5913 | 1.5887 | 1.5861
1.5796 | 1.5772 | 1.5747

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

MARKET ANALYSIS - Intraday Analysis

The currency traded yesterday without a priority in direction and all our supports and resistance levels remain the same. Today we expect that price will trade within the same price range. Strong signal should be provided prior to the trend development. Potential is seen for break above the 1.5861 level (R1) on the upper side. Possible targets stays at 1.5887 (R2) and 1.5913 (R3) levels. Downside development remains for now limited by next support level at 1.5796 (S1), only clear break here would be a signal of market weakening with next targets at 1.5772 (S2) and 1.5747(S3) in potential.

USDJPY : 78.605 / 78.610
DAILY WEEKLY MONTHLY

79.21 | 79.02 | 78.83
78.45 | 78.28 | 78.11

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

MARKET ANALYSIS - Intraday Analysis

The USDJPY trades in a channel between our next support level at 78.45 (S1) and resistance at 78.83 (R1). A break in either direction will determine the trading bias for the medium term. In such situation we suggest to wait for a clear directional signal prior taking any positions. Bake above the resistance level at 78.83 (R1) would suggest next targets at 79.02 (R2) and 79.21 (R3) in potential. On the other side, loss of 78.45 (S1) would enable targets at 78.28 (S2) and 78.11 (S3).

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

alayoua · August 31, 2012, 2:23am

[B]Market Overview by FXCC Aug 31 2012

ECB bond buying plan unlikely to be fully unveiled at the Sep ECB meeting - TDS

With summer drawing to a close, “it’s time to see if the monetary weapons will be revealed”, says Rich Kelly, research analyst at TDS. “Disappointment at some stage along the way is a real possibility and we eventually expect the ECB’s new bond buying plan to satisfy the market, but it is unlikely to be fully unveiled at the September ECB meeting, and once announced, there will be a lag before Spain asks for it, and markets hate waiting and uncertainty” the analyst notes.

In the sessions ahead, the UK’s non-seasonally adjusted Nationwide Housing Prices data for August will be key risk event for GBP, but the market is likely to be distracted as it awaits Bernanke’s speech at Jackson Hole.
Read More
https://support.fxcc.com/email/technical/31082012/

UPCOMING EVENTS :
2012-08-31 09:30 GMT | E.M.U. Unemployment Rate (Jul)
2012-08-31 12:30 GMT | Canada. Gross Domestic Product (YoY) (Q2)
2012-08-31 14:00 GMT | United States. Fed’s Bernanke Speaks at Jackson Hole
2012-08-31 18:30 GMT | All. IMF’s Lagarde Speaks at Jackson Hole

FOREX NEWS :
2012-08-31 03:45 GMT | USD/JPY dips to 6-day lows, still in range
2012-08-31 03:01 GMT | NZD/USD finding resistance below 0.80
2012-08-31 02:11 GMT | GBP/JPY sideways around 124.00
2012-08-31 02:46 GMT | EUR/AUD within quiet, narrow range

EURUSD : 1.25109 / 1.25114
DAILY WEEKLY MONTHLY

1.2577 | 1.2550 | 1.2523
1.2481 | 1.2451 | 1.2417

SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

Today major market drivers would be Fed’s Bernanke Speech at 14:00 GMT and IMF’s Lagarde Speech at 18:30 GMT at Jackson Hole. However some macroeconomic data would be released during the European trading session, in focus E.M.U. Unemployment Rate at 09:00 GMT and Germany Retail Sales at 06:00 GMT. Appreciation above the next resistance level at 1.2523 (R1) potentially might expose higher targets at 1.2550 (R2) and 1.2577 (R3) later on today. Bearish penetration below the suggested yesterday support at 1.2513 targeting 1.2481 (S1) and 1.2451(S2) in potential. Final support level for today locates at 1.2417 (S3).

GBPUSD : 1.57932 / 1.57941
DAILY WEEKLY MONTHLY

1.5859 | 1.5830 | 1.5800
1.5770 | 1.5741 | 1.5712

SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

Yesterday Instrument made an attempt to establish positive bias but failed to go much higher our suggested resistance level at 1.5838. During the US Session pair recovered all gains and met our downside direction target at 1.5772. Fresh low, formed yesterday is our next support level at 1.5770 (S1), brake here might shift market sentiment to the “Bearish” side. In such scenario we expect further decline towards to next targets at 1.5741 (S2) and 1.5712 (S3). Risk of GBPUSD strengthening is seen above the resistance level at 1.5800 (R1). Progress above it might expose targets at 1.5830 (R2) and 1.5859 (R3) in potential.

USDJPY : 78.435 / 78.440
DAILY WEEKLY MONTHLY

78.91 | 78.85 | 78.57
78.28 | 78.10 | 77.92

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

MARKET ANALYSIS - Intraday Analysis

Market remains in sideways mode trading however potential volatility increase due to the Jackson Hole Symposium might assist to the trend development on the market. Signal of market sentiment change to the bearish would be provided if market drop below the next support level at 78.28 (S1). Suggested targets locates at 78.10 (S2) and 77.92 (S3). On the other side, brake above the resistance at 78.57 (R1) might lead to the bullish scenario and expose targets at 78.85 (R2) and 78.91 (R3).

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

alayoua · September 3, 2012, 2:47am

[B]Market Overview by FXCC Sep 03 2012

ECB to add some colour on bond buying - Nomura

Expect the ECB to announce its preparedness to intervene in the bond market after countries have called for help at the EFSF/ESM and under strict conditionality, Nomura Chief European Economist Jacques Cailloux said in a research note, published late last week. However, Nomura believes that the ECB will provide very little colour on the modalities of the programme at this week’s meeting. According to Mr. Cailloux, once the program is implemented, “analysis shows that the bond buying programme for Spain could last 5 months with the shorter maturities rallying further in the initial stage of the policy response. Much more difficult will be how to anchor the longer end which will be the job of the EFSF/ESM, a task we believe will be very hard.”

London session ahead will have another round of PMI figures this time coming from several EU countries like Spain, Italy, France, Germany, the EU, and Greece, starting at 07:13 GMT, 07:43, 07:48, 07:53, and finally at 07:58 with the EU and Greece respectively. Not much in EUR macro data related apart from the PMIs, with the focus on the US closed today on holiday, and ECB’s Draghi to testify on banking union before the European Parliament’s Economic and Monetary Affairs Committee, in Brussels at 13:30 GMT.
Read More
https://support.fxcc.com/email/technical/03092012/

UPCOMING EVENTS :
2012-09-03 07:15 GMT : Switzerland. Real Retail Sales (YoY) (Jul)
2012-09-03 07:53 GMT : Germany. Markit Manufacturing PMI (Aug)
2012-09-03 07:58 GMT : E.M.U. Markit Manufacturing PMI (Aug)
2012-09-03 08:28 GMT : United Kingdom. Markit Manufacturing PMI (Aug)

FOREX NEWS :
2012-09-03 04:33 GMT : GBP/USD consolidating above 1.5850
2012-09-03 04:12 GMT : EUR/USD flat, AUD/USD plummets
2012-09-03 03:52 GMT : AUD/USD forecast at parity before end of 2012 - UBS
2012-09-03 03:16 GMT : EUR/AUD at fresh 2-month highs

EURUSD : 1.25825 / 1.25826
DAILY WEEKLY MONTHLY

1.2717 | 1.2676 | 1.2637
1.2557 | 1.2517 | 1.2480

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

MARKET ANALYSIS - Intraday Analysis

Friday’s comments by ECB’s Benoit Coeure pushed EURUSD up to the new monthly highs and our suggested target at 1.2577 was achieved. Our next resistance level is placed above the fresh high at 1.2637 (R1), violation here would expose next target at 1.2676 (R2) and any further appreciation might face resistive measures located at 1.2717 (R3). On the other side, the pair’s fall might be supported by our next level at 1.2557 (S1). Further decline below it might test next targets at 1.2517 (S2) and 1.2480 (S3) in potential.

GBPUSD : 1.58698 / 1.58710
DAILY WEEKLY MONTHLY

1.5948 | 1.5922 | 1.5896
1.5848 | 1.5824 | 1.5799

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

MARKET ANALYSIS - Intraday Analysis

Friday’s USD weakening during the European session let to profit taking at 1.5589, our last suggested target. Upside pressure might force the market to retest our next resistance level at 1.5896 (R1). Consolidation above it might provide sufficient space for the price increase towards to our next targets at 1.5922 (R2) and 1.5948 (R3). On the flip side, depreciation below the support level at 1.5848 (S1) would enable our targets at 1.5824 (S2) and 1.5799 (S3) in potential.

USDJPY : 78.319 / 78.323
DAILY WEEKLY MONTHLY

78.80 | 78.63 | 78.45
78.10 | 77.92 | 77.74

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

MARKET ANALYSIS - Intraday Analysis

Current installation might suggest us about the market sentiment change. Friday decline below the key support level at 78.28 open the road towards to the new targets. Our next target level at 78.10 (S1) mark is not far away from current market price. Brake here would suggest lower supports at 77.92 (S2) and 77.74 (S3) as new targets. A move above the resistance level at 78.45 (R1) might drive price towards to the next target at 78.63 (R2) and any further rise would then be limited by last resistance at 78.80 (R3), important technical level.

Source: FX Central Clearing Ltd,( Best Forex Trading System | Forex Trading Platforms | Automated Forex Trading Software | FXCC )[/B]

alayoua · September 4, 2012, 7:28am

[B]Market Overview by FXCC Sep 04 2012

RBA Interest Rate Decision remains at 3.5%

The Australian central bank believes that despite the overall global worsening conditions in recent months, monetary policy is appropriate given inflation levels consistent with the objectives set, as well as economic growth in line with expectations. Widely anticipated by economists surveyed by Bloomberg where 24 out of the 24 economists questioned expected the decision to remain unchanged, in the absence of dovish signs the pair is pushing higher.

Australia current account balance has come at -11,801M in 2Q vs -14,892M in 1Q. Expectations were for -12.2 bln approximately. The contribution from Aus net exports rose to 0.3%, below a 0.55% forecasted.
Read More
https://support.fxcc.com/email/technical/04092012/

UPCOMING EVENTS :
2012-09-04 09:00 GMT | E. M. U. Producer Price Index (YoY) (Jul)
2012-09-04 12:58 GMT | United States. Markit Manufacturing PMI (Aug)
2012-09-04 14:00 GMT | United States. ISM Manufacturing PMI (Aug)
2012-09-04 23:30 GMT | Australia. AiG Performance of Services Index (Aug)

FOREX NEWS :
2012-09-04 02:29 GMT | EUR/USD to fresh session highs on USD weakness overall
2012-09-04 01:33 GMT | Japan Labor Cash Earnings (YoY) -1.2% in Jul
2012-09-04 01:17 GMT | Hard to see gold breaking 1700/oz before NFP - ANZ
2012-09-04 00:05 GMT | USD/JPY more range trading above 78.00

EURUSD : 1.26120 / 1.26127
DAILY WEEKLY MONTHLY

1.2717 | 1.2676 | 1.2637
1.2594 | 1.2557 | 1.2517

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

MARKET ANALYSIS - Intraday Analysis

EURUSD failed to establish any significant movement as the pair has remained in sideways mode trading yesterday. At the moment pair is gaining 0.18% and next resistance level ahead is seen at 1.2637 (R1). Penetration above it might resume market strengthening towards to the next target at 1.2676 (R2). Remaining resistance level locates at 1.2717 (R3). On the flip side, support levels lie at 1.2594 (S1) ahead. Brake here is required to enable next targets at 1.2557 (S2) and 1.2517 (S3). Next important news from E. M. U. is Producer Price Index at 09:00 GMT.

GBPUSD : 1.58865 / 1.58876
DAILY WEEKLY MONTHLY

1.5948 | 1.5922 | 1.5896
1.5873 | 1.5848 | 1.5824

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

MARKET ANALYSIS - Intraday Analysis

Technically, GBPUSD is under the bullish pressure on the medium term and we expect further appreciation later on today as main scenario. GBPUSD reached our suggested resistance level at 1.5896 (R1) and now is moving towards to our next target at 1.5922 (R2). Progress above it would suggest final target for today at 1.5948 (R3). On the other hand, retracement is possible and market decline below the next support level at 1.5873 (S1) would bring in focus lower targets at 1.5848 (S2) and 1.5824 (S3) in potential.

USDJPY : 78.368 / 78.373
DAILY WEEKLY MONTHLY

78.80 | 78.63 | 78.45
78.17 | 77.98 | 77.80

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

MARKET ANALYSIS - Intraday Analysis

USDJPY continue its range trading and picture in general remain the same. In terms of technical levels, next resistance is seen at 78.45 (R1). If the pair manages to successfully climb above it, we could even see to retest of our next target at 78.63 (R2) later on. Our final resistance could be found at 78.80 (R3) price level. While next support is placed at 78.17 (S1), decline below it would put in focus next target at 77.98 (S2) and any further depreciation would then be limited to 77.80 (S3) intraday.

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

alayoua · September 5, 2012, 2:31am

[B]Market Overview by FXCC Sep 05 2012

Spain full-blown bailout done deal - Nomura

Spain will need full-blown bailout which will include more active role of ECB in Spanish bond markets, says Nomura in a research note. The bank thinks capital flight from Spain is in a “category of its own,” with massive outflows raising “serious concerns about the implications for banking sector stability and economic growth,” Nomura strategists Jens Nordvig and Charles St.-Arnaud write in client note. Interestingly, the following line via Bloomberg points at capital outflows on 3-month rolling basis at 50% of GDP vs Italy 15%; for comparison, Indonesia outflow during Asian crisis peaked at 23%.

The London session ahead will bring just few minor PMI figures from the EU in terms of EUR macro data related and EU retail sales. Spanish services PMI will be out at 07:13 GMT, followed 30 minutes later by Italian services PMI, 5 minutes later by French one, another 5 minutes for German one, and finally another 5 minutes for the EU final services PMI at 07:58 GMT. EU retail sales are due at 09:00 GMT. At 13:00 GMT EU’s Van Rompuy is expected to meet French PM Hollande so very probably some headlines will come that way.
Read More
FXCC Market Update 05-09-2012

UPCOMING EVENTS :
2012-09-05 07:58 GMT | E. M.U. Markit Services PMI (Aug)
2012-09-05 08:28 GMT | United Kingdom. Markit Services PMI (Aug)
2012-09-05 09:00 GMT | E. M.U Retail Sales (YoY) (Jul)
2012-09-05 13:00 GMT | Canada. BoC Interest Rate Decision

FOREX NEWS :
2012-09-05 04:35 GMT | GBP/USD in tight range above 1.5850
2012-09-05 02:26 GMT | AUD/CAD: quick dip below 1.0050
2012-09-05 00:12 GMT | EUR/USD holds negative tone at Tokyo fix
2012-09-04 23:23 GMT | BoC, modest withdrawal of stimulus likely - Nomura

EURUSD : 1.25340 / 1.25345
DAILY WEEKLY MONTHLY

1.2637 | 1.2598 | 1.2557
1.2517 | 1.2476 | 1.2432

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

MARKET ANALYSIS - Intraday Analysis

EURUSD broke our expected support level at 1.2594 and reached our target at 1.2557 yesterday. Intraday term bias remains negative below the next resistance at 1.2557 (R1). However, brake here would suggest about the market sentiment change to the bullish and we expect appreciation towards to 1.2598 (R2) and 1.2637 (R3) in such scenario. Risk of further easing is seen below the support at 1.2517 (S1), decline below it might expose next targets at 1.2476 (S2) and 1.2432 (S3) in potential. Today in focus are E.M.U. Markit Services PMI at 07:58 GMT and Retail Sales at 09:00 GMT.

GBPUSD : 1.58620 / 1.58629
DAILY WEEKLY MONTHLY

1.5922 | 1.5899 | 1.5875
1.5855 | 1.5830 | 1.5804

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

MARKET ANALYSIS - Intraday Analysis

The pair has formed fresh low today at 1.5855 (S1), which is currently our next support level. Fall below it would suggest next targets at 1.5830 (S2) and 1.5804 (S3). Though, intraday Bull’s power might activate when the pair approach resistance level at 1.5875 (R1). Our next target is seen at 1.5899 (R2) and any further appreciation would then be targeting 1.5922 (R3). Attention on the United Kingdom Markit Services PMI release at 08:28 GMT today.

USDJPY : 78.413 / 78.417
DAILY WEEKLY MONTHLY

78.92 | 78.73 | 78.54
78.17 | 77.98 | 77.80

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

MARKET ANALYSIS - Intraday Analysis

USDJPY appreciated yesterday and formed fresh high at 78.54 (R1), which is currently our next resistance level. Rise above it might provide sufficient space for the appreciation towards to next target at 78.73 (R2). Brake here is required to enable last target for today at 78.92 (R3). Market decrease below the next important support level at 78.17 (S1) would suggest about the downtrend development with next target at 77.98 (S2). Further instrument easing might face final support at 77.80 (S3).

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