Daily Forex Market by FXCC

alayoua · September 6, 2012, 2:52am

[B]Market Overview by FXCC Sep 06 2012

EUR/USD steady above 1.26 ahead of one of most important days for the currency

The key risk event probably of the entire month in the form of ECB interest rate statement today at 11:45 GMT followed by the press conference 45 minutes later, where is expected the head of the Eurogroup Jean-Claude Juncker will attend the meeting. As reported by Laurence Norman and Todd Buell for WSJ: “In an unusual move, Jean-Claude Juncker, the head of the Eurogroup of euro zone finance ministers, announced he would attend Thursday’s ECB governing council meeting. ‘Mr. Juncker will present the Eurogroup’s analysis of the economic and financial situation in the euro zone,’ his spokesman said in an e-mail,” reads the report.

London session ahead will be as busy as it can get, with plenty of risk events going on. For EUR macro related data, France will start with the unemployment figures at 05:30 GMT, followed by the Netherland’s CPI a 07:30 GMT, EU’s revised 2Q GDP at 09:00 GMT along with Greece unemployment numbers, and Germany factory orders at 10:00 GMT.
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UPCOMING EVENTS :
2012-09-06 09:00 GMT | E.M.U. Gross Domestic Product s.a. (QoQ) (Q2) Preliminar
2012-09-06 11:00 GMT | United Kingdom. BoE Interest Rate Decision
2012-09-06 11:45 GMT | E.M.U. ECB Interest Rate Decision
2012-09-06 12:30 GMT | E.M.U. ECB Monetary policy statement and press conference

FOREX NEWS :
2012-09-06 04:33 GMT | GBP/USD quiet around 1.5900
2012-09-06 03:22 GMT | AUD/JPY bounces from 6-week lows
2012-09-06 03:04 GMT | EUR/CHF keeps moving higher
2012-09-06 01:44 GMT | AUD/USD finds double bottom; aiming at 1.0220

EURUSD : 1.26056 / 1.26061
DAILY WEEKLY MONTHLY

1.2754 | 1.2697 | 1.2637
1.2570 | 1.2510 | 1.2450

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

MARKET ANALYSIS - Intraday Analysis

Yesterday, leaked details of the ECB’s bond intervention plan pushed EUR higher and our target at 1.2598 was met successfully. However our last target at 1.2637 (R1) remains untouched and currently is our next key resistance level. Market is waiting for official announcement from the ECB at 11:45 GMT and we expect volatility increase today. Clearance of next resistance level at 1.2637 (R1) would enable next targets at 1.2697 (R2) and 1.2754 (R3). For the downside we suggest next support level at 1.2570 (S1). Loss here might take the pair towards to eventual supports, located at 1.2510 (S2) and 1.2450 (S3) in potential.

GBPUSD 1.59019 / 1.59028
DAILY WEEKLY MONTHLY

1.5996 | 1.5968 | 1.5934
1.5884 | 1.5850 | 1.5815

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

MARKET ANALYSIS - Intraday Analysis

The key event for GBPUSD would be BoE Interest Rate Decision at 11:00 GMT today. Next important technical resistance stay at 1.5934 (R1), brake here is required for market expansion towards to next target at 1.5968 (R2) and any further increase would then be limited by final resistance for today at 1.5996 (R3). Failure to go higher might push markets to retest our support at 1.5884 (S1). Brake here would suggest next target at 1.5850 (S2) and any further fall would then be targeting to support at 1.5815 (S3). E.M.U. Gross Domestic Product Preliminar release is the next portion of data in focus at 09:00 GMT .

USDJPY : 78.436 / 78.442
DAILY WEEKLY MONTHLY

78.92 | 78.73 | 78.54
78.30 | 78.10 | 77.89

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

MARKET ANALYSIS - Intraday Analysis

The neutral channel continues to pressure the pair from the both sides. Yesterday high at 78.54 (R1) and formed low at 78.30 (S1) currently is the next key levels. Break above the resistance at 78.54 (R1) would bring in focus next target at 78.73 (R2) and any further appreciation might face final resistance at 78.92 (R3). As long as the pair remains within the same price range, support at 78.30 (S1) is acting a protective level for the pair to plunge lower. Brake here would suggest next targets at 78.10 (S2) and 77.89 (S3) in potential.

Source: FX Central Clearing Ltd,( ECN Global Forex Trading | Forex Trading Charts | Best Forex Trading | FXCC )[/B]

alayoua · September 7, 2012, 6:10am

[B]Market Overview by FXCC Sep 07 2012

Market positioning for a stronger NFP reading - Westpac

Market positioning for US Aug non-farm payrolls is likely to be for a stronger reading than economists’ consensus of 130K, given the better ADP survey and also the non-manufacturing ISM, says Sean Callow, currency strategist at Westpac. The bank forecast is gloomier, “looking for 80K after the surprisingly firm 163K in July. The market range is 70-185K.”

London session ahead will be focused on key data coming from the US at 12:30 GMT in the form of NFP. But earlier will come a bunch of other minor EUR related data, starting with German current account and trade balance at 06:00 GMT (all times GMT), followed by French trade balance 45 minutes later, Spanish industrial production at 07:00, the Netherlands industrial production half hour later, Greece final 2Q GDP at 09:00, and German industrial production and Portugal final 2Q GDP both at 10:00.
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UPCOMING EVENTS :
2012-09-07 08:30 GMT | United Kingdom. Manufacturing Production (YoY) (Jul)
2012-09-07 12:00 GMT | United States. Nonfarm Payrolls (Aug)
2012-09-07 12:30 GMT | Canada. Net Change in Employment (Aug)
2012-09-07 14:00 GMT | United Kingdom. NIESR GDP Estimate (3M) (Aug)

FOREX NEWS :
2012-09-07 04:40 GMT | EUR/USD ahead of US NFP above 1.26 around 5 year volatility lows
2012-09-07 04:32 GMT | GBP/USD upside favored – V.Bednarik
2012-09-07 03:35 GMT | AUD/USD at day highs; stops at 1.03 tripped
2012-09-07 03:19 GMT | Fitch warns Japan rating in danger to be downgraded

EURUSD : 1.26371 / 1.26376
DAILY WEEKLY MONTHLY

1.2741 | 1.2697 | 1.2654
1.2610 | 1.2566 | 1.2524

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

MARKET ANALYSIS - Intraday Analysis

United States Nonfarm Payrolls at 12:00 GMT in focus today as major marked driver. Economist’s consensus is 130K. Hourly, instrument looks overbought and we expect some gradual easing below the next support level at 1.2610 (S1) later on today. Our suggested targets are 1.2566 (S2) and 1.2524 (S3). While next resistances is seen at 1.2654 (R1), clearance here is required for instrument strengthening towards to our next targets at 1.2697 (R2) and 1.2741 (R3) later on today.

GBPUSD : 1.59330 / 1.59340
DAILY WEEKLY MONTHLY

1.6003 | 1.5975 | 1.5943
1.5917 | 1.5889 | 1.5860

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD bounced on the Mario Draghi’s commentary yesterday. Next portion of macroeconomic data release from UK is expected today at 08:30 GMT - Manufacturing Production. Our main scenario remains unchanged, GBPUSD at the moment deviate from its up-trend on the short term timeframe. Next resistance is maintained at 1.5943 (R1), break here might open space for a move to test targets at 1.5975 (R2) and 1.6003 (R3) in potential. However on the medium term, market is overbought and correction is possible from current levels. Decrease below the support at 1.5917 (S1) might expose next targets at 1.5889 (S2) and 1.5860 (S3).

USDJPY : 78.927 / 78.930
DAILY WEEKLY MONTHLY

79.42 | 79.22 | 79.03
78.77 | 78.58 | 78.38

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

MARKET ANALYSIS - Intraday Analysis

The USD rose yesterday versus the JPY, turning hourly sentiment to the positive territory and exposed our final target at 78.92. Next resistance ahead at is placed at yesterday high- 79.03 (R1), brake here is required to open way for further appreciation towards to 79.22 (R2) and 79.42 (R3). On the downturn, price decline below the next support levels at 78.77 (S1) might trigger bearish pressure and enable next target at 78.58 (S2). A break below it would suggest last target for today at 78.38 (S3).

Source: FX Central Clearing Ltd,( Automatic forex trading | Learning Forex Trading | ECN Forex Trading Signal | FXCC )[/B]

alayoua · September 10, 2012, 2:38am

[B]Market Overview by FXCC Sep 10 2012

If QE3 happens, may mark the end of USD weakness - Standard Chartered

Following the downbeat US NFP data, which for the majority of market participants paves the way for the next round of easing by the Fed being announced as soon as this week, there is other entities, like Standard Chartered, which remain more skeptical on getting too excited on this prospects. According to analysts in the bank, “we do not think US August payroll data means QE3 is a done deal in September.” The bank also adds, “if QE3 happens, it actually may mark the end, not the beginning, of USD weakness.” Standard Chartered remains underweight EUR, “supported by the view this week’s FOMC will disappoint” the bank notes.

London session ahead will be a middle soft one in regards of EUR macro data related, though could become into a volatile day anyways with the Troika heading to Greece, and PM Samaras expected to meet ECB tomorrow. First will come French business sentiment at 06:30 GMT, followed 15 minutes later by French industrial production, EU Sentix indicator at 08:30 GMT, and Greek CPI. In the EZ sovereign debt auctions front Germany will sell up to € 4B in 6 month bills at 06:00 GMT, with risk premium to Spanish bonds narrowing last at 413bps, at multi-week lows.
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UPCOMING EVENTS :
2012-09-10 06:00 GMT | Japan. Eco Watchers Survey: Outlook (Aug)
2012-09-10 08:30 GMT | E.M.U. Sentix Investor Confidence (Sep)
2012-09-10 19:00 GMT | United States. Consumer Credit Change (Jul)
2012-09-10 22:45 GMT | New Zealand. Gross Domestic Product (QoQ) (Q2)

FOREX NEWS :
2012-09-10 04:47 GMT | GBP/USD: upside remains favored – V.Bednarik
2012-09-10 04:23 GMT | EUR/USD stable below 1.2800
2012-09-10 02:04 GMT | USD/JPY holds scope for more slides – V.Bednarik
2012-09-10 00:43 GMT | AUD/USD range bound above 1.0350

EURUSD : 1.27833 / 1.27839
DAILY WEEKLY MONTHLY

1.2920 | 1.2870 | 1.2817
1.2754 | 1.2700 | 1.2652

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

MARKET ANALYSIS - Intraday Analysis

After the U.S. Non-Farm Employment Change release on Friday, EURUSD climbed above the suggested target at 1.2741 and closed US session on the positive tone. Next resistance level for today locates at Friday’s High - 1.2817 (R1). Rise above it might lead to the further trend development with next possible targets at 1.2870 (R2) and 1.2920 (R3). Downside direction is limited by next support level at 1.2754 (S1), price decrease below it would be targeting next support at 1.2700 (S2), decrease below it would suggest support at 1.2652 (S3) as final target for today.

GBPUSD : 1.59938 / 1.59945
DAILY WEEKLY MONTHLY

1.6103 | 1.6069 | 1.6034
1.5976 | 1.5942 | 1.5909

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD met our target at 1.6003 on the Friday move and settled positive bias on the hourly timeframe. Next resistance ahead, preventing further appreciation, is seen at 1.6034 (R1). Rising up above this level would suggest next targets at 1.6069 (R2) and 1.6103 (R3) in potential. On the other point, if the market manage to brake next support level at 1.5976 (S1), we might see pull back development with possible targets at 1.5942 (S2) and 1.5909 (S3) later on today.

USDJPY : 78.224 / 78.228
DAILY WEEKLY MONTHLY

78.74 | 78.54 | 78.36
78.01 | 77.81 | 77.62

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

MARKET ANALYSIS - Intraday Analysis

Pair formed fresh low on Friday’s move and now deviate from its initial downtrend formation. Next resistance level lie at 78.36 (R1), clearance here might provide space for pair strengthening towards to next expected target at 78.54 (R2). Brake here is required to enable final target at 78.74 (R3). Risk of price depreciation is seen below the next support level at 78.01 (S1). Price progress below it might expose targets at 77.81 (S2) and 77.62 (S3) in perspective.

Source: FX Central Clearing Ltd,( ECN Forex Trading For Beginners | Automated Forex Trading Systems | Forex Automated Trading | FXCC )[/B]

alayoua · September 11, 2012, 5:11am

[B]Market Overview by FXCC Sep 11 2012

EUR/USD rally a bluff until Spain bailout request?

Spanish Prime Minister Rajoy affirmed on Monday, in a RTVE Spanish TV interview, that his team is “studying bailout conditions.” On the contrary, he also said he will refuse outside conditions over a possible bailout, a contradictory statement that sooner or later will see the harsh reality slashing in his face, Either in coming weeks/monhts.

London session ahead will be a soft one again in terms of EUR macro data related, with only some French jobs data at 05:30 GMT, followed by German whole price index 30 minutes later, and Dutch trade balance at 07:30 GMT. No major EZ sovereign debt auction either taking place but some Dutch bond selling at 08:00 GMT
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UPCOMING EVENTS :
2012-09-11 08:30 GMT United Kingdom. Goods Trade Balance (Jul)
2012-09-11 12:00 GMT United States. Trade Balance (Jul)
2012-09-11 17:00 GMT United States. 3-Year Note Auction
2012-09-11 23:50 GMT Japan. Machinery Orders (YoY) (Jul)

FOREX NEWS :
2012-09-11 04:47 GMT EUR/USD capped below 1.2800
2012-09-11 04:31 GMT GBP/USD bid above 1.6000
2012-09-11 04:48 GMT AUD to underperform – UBS
2012-09-10 23:20 GMT AUD/USD within tight range around 1.0330

EURUSD : 1.27699 / 1.27702
DAILY WEEKLY MONTHLY

1.2920 | 1.2870 | 1.2817
1.2754 | 1.2700 | 1.2652

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

MARKET ANALYSIS - Intraday Analysis

Despite the consolidation provided yesterday, EURUSD still under the bullish pressure on the medium term perspective. All of our supports and resistance levels remain at the same levels. Brake above the resistance at 1.2817 (R1) would suggest next target at 1.2870 (R2) and any further gain would then be limited to 1.2920 (R3). However break below the support at 1.2754 (S1) might provide necessary space for further retracement development. We suggest next target at 1.2700 (S2), brake here is required to enable final target at 1.2652 (S3).

GBPUSD : 1.60091 / 1.60098
DAILY WEEKLY MONTHLY

1.6103 | 1.6069 | 1.6034
1.5976 | 1.5942 | 1.5909

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

MARKET ANALYSIS - Intraday Analysis

Pair dropped below the suggested support level at 1.5976 but failed to establish significant move. We expect a new attack for that level today. Decline below the support level at 1.5976 (S1) would suggest next target at 1.5942 (S2), further easing might face last support for today at 1.5909 (S3). If the price manages to stay above the suggested support at 1.5976 (S1), we expect market to retest our next resistance level at 1.6034 (R1). Clearance here is required for the instrument strengthening towards to our targets at 1.6069 (R2) and 1.6103 (R3) in potential. In focus is the Goods Trade Balance (Jul) release at 08:30 GMT.

USDJPY : 78.218 / 78.223
DAILY WEEKLY MONTHLY

78.74 | 78.54 | 78.36
78.01 | 77.81 | 77.62

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

MARKET ANALYSIS - Intraday Analysis

We are not expecting significant volatility increase today however Japan Machinery Orders (release at 23:50 GMT might assist to the trend development. Measures of resistance might be activating when the pair approaches the 78.36 (R1), brake here would suggest next target at 78.54 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 78.74 (R3). Fresh low is acting as support level for the pair at 78.01 (S1). Loss here might drive market price towards to our next target at 77.81 (S2) and any further easing would then be focus on last support at 77.62 (S3).

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

alayoua · September 12, 2012, 2:40am

[B]Market Overview by FXCC Sep 12 2012

Consensus ESM approved: Will it come with conditions?

“Market consensus for tomorrow’s Constitutional Court judgement is overwhelmingly that the Constitutional Court will not block ESM and the Fiscal Pact: 99% of respondents in our Investor poll this week subscribe to this view.” According to a Reuters poll of 20 legal experts, there is unanimous consensus the soon-to-be-established ESM will be approved but with strings as the wildcard. Strings could mean a German limit on contributions, making a case for euro shorts ahead of the court decision, due at 0800 GMT today.

London session ahead will be very busy as the common currency faces one of most important days ahead for its future. There are plenty of risk events in the coming hours, that will presumable pick volatility up. For starters in terms of macro data EUR related France will release CPI figures for Aug at 05:30 GMT, followed by German CPI 30 minutes later, and French current account at 06:45 GMT. Spain CPI will be out at 07:00 GMT, followed by Italian industrial production 1 hour later, and EU industrial production along with Portugal CPI another hour after.
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UPCOMING EVENTS :
2012-09-12 06:00 GMT | Germany. Harmonised Index of Consumer Prices (Aug)
2012-09-12 08:30 GMT | United Kingdom. Claimant Count Change (Aug)
2012-09-12 09:00 GMT | E.M.U. Industrial Production w.d.a. (YoY) (Jul)
2012-09-12 21:00 GMT | New Zealand. RBNZ Interest Rate Decision

FOREX NEWS :
2012-09-12 04:43 GMT | EUR/USD above 1.2850 ahead of a crucial day for the common currency
2012-09-12 03:30 GMT | NZD/USD rally hits 0.8200, highest in 5 weeks
2012-09-12 02:45 GMT | AUD/JPY approaching 50% Fibo res.
2012-09-12 01:54 GMT | USD/JPY rising back toward 78.00 as Asia turns ‘risk-on’

EURUSD : 1.28724 / 1.28727
DAILY WEEKLY MONTHLY

1.3018 | 1.2952 | 1.2885
1.2837 | 1.2767 | 1.2701

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

MARKET ANALYSIS - Intraday Analysis

Constitutional court expected to give its preliminary ruling on the ESM and the fiscal compact today, this would be the major market driver for the currency. Our target at 1.2870 was met yesterday and market closed on a positive note. Fresh high, formed today at 1.2885 (R1) is a next attractive point for the uptrend penetration. If a brake occur here we suggest gradual targets to be placed at 1.2952 (R2) and 1.3018 (R3). Next upcoming support holds at 1.2837 (S1), a consolidation development below it might take the pair towards to eventual supports located at 1.2767 (S2) and 1.2701 (S3) in potential.

GBPUSD : 1.60766 / 1.60774
DAILY WEEKLY MONTHLY

1.6186 | 1.6136 | 1.6085
1.6051 | 1.5997 | 1.5940

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

MARKET ANALYSIS - Intraday Analysis

Cable managed to advance above the suggested resistance level at 1.6034 and printed a fresh high during the European session at 1.6085 (R1), which is our next resistance level for today. Rise above it might keep the bearish pressure intact and expose next targets at 1.6136 (R2) and 1.6186 (R3) later on today. We placed our next support level below the both moving averages at 1.6051 (S1). Loss here might enable bearish pressure and downgrade Cable towards to expected targets at 1.5997 (S2) and 1.5940 (S3). United Kingdom Claimant Count Change at 08:30 GMT is the next data release in focus.

USDJPY : 77.884 / 77.889
DAILY WEEKLY MONTHLY

78.33 | 78.17 | 78.01
77.69 | 77.51 | 77.33

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

MARKET ANALYSIS - Intraday Analysis

USDJPY gained momentum yesterday and reached our downside target at 77.81. A medium-term bias is negative now though intraday bullish forces might be activated if the pair penetrates above the resistance level at 78.01 (R1). Next immediate resistance levels holds at 78.17 (R2) and 78.33 (R3). Conversely, next support level stays right below the fresh low, provided yesterday at 77.69 (S1). Brake here would suggest next target at 77.51 (S2) and any further fall would then be limited by last support at 77.33 (S3).

Source: FX Central Clearing Ltd,( Best Forex Trading Software | ECN Forex News Trading | Forex Options Trading | FXCC )[/B]

alayoua · September 13, 2012, 6:31am

[B]Market Overview by FXCC Sep 13 2012

QE3 done deal or coinflip?

An overwhelming majority, as reflected by recent USD selling, sees it obvious that the economy in the US is weak, and with Bernanke reminding how well past QEs have worked in his speech at Jackson Hole, not to forget the last straw being the big miss in last Friday’s NFP reports, talking about a fresh wave of money printing announced today seems logical. On the other hand, there is a case that points towards ‘disappointment’ being a prospect not that distant. With Europe having kicked the can down the road yet again thru new stimulus policies by the ECB – subject to Spain bailout request and the economic data in the US modestly upbeat in general in early September, one may also make the case for another month of 'wait-and-see” by the Fed. Not to forget is election time in the US, and any new ‘money printing’ may be controversial.

London session ahead will be a quite one data related waiting for the key event for the day in the form of FOMC Fed fund rates at 16:30 GMT. During the European hours, few major risk events will be coming from Switzerland, so some volatility could be expected around EUR/CHF cross given latest moves, while for EUR macro data related the EU will publish ECB monthly bulletin at 08:00 GMT at the same time than Italy CPI, followed 1 hour later by EU labor costs index.
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UPCOMING EVENTS :
2012-09-13 07:30 GMT | Switzerland. SNB Interest Rate Decision
2012-09-13 08:00 GMT | E.M.U. ECB Monthly Report
2012-09-13 18:15 GMT | United States. Fed’s Monetary Policy Statement and press conference
2012-09-13 16:30 GMT | United States. Fed Interest Rate Decision

FOREX NEWS :
2012-09-13 04:34 GMT | GBP/USD moving sideways above 1.61
2012-09-13 04:33 GMT | EUR/USD threatening recent 4-month highs
2012-09-13 01:16 GMT | EUR/AUD prints “Pin,” set for bullish continuation?
2012-09-13 00:54 GMT | Potential for further USDJPY selling post FOMC - UBS

EURUSD : 1.29249 / 1.29254
DAILY WEEKLY MONTHLY

1.3086 | 1.3018 | 1.2952
1.2876 | 1.2817 | 1.2748

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

MARKET ANALYSIS - Intraday Analysis

Following the German ratification of the ESM, EURUSD bounced though closed trading session on the positive tone. The Focus will now shift to Thursday’s FOMC meeting at 18:15 GMT. Currently pair is moving towards to our next resistance level at 1.2952 (R1). Clearance here would suggest next targets at 1.3018 (R2) and 1.3086 (R3). The downside trend evolvement is limited by next support level at 1.2876 (S1), brake here might lead to the next targets execution at 1.2817 (S2) and 1.2748 (S3).

GBPUSD : 1.61173 / 1.61182
DAILY WEEKLY MONTHLY

1.6235 | 1.6186 | 1.6136
1.6079 | 1.6035 | 1.5985

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

MARKET ANALYSIS - Intraday Analysis

Pair has settled positive bias on the hourly timeframe but recently looks overbought. From the technical side, upside pressure might force the market to test next resistance level at 1.6136 (R1). Successful penetration above it might provide sufficient space for the price increase towards to our next targets at 1.6186 (R2) and 1.6235 (R3). On the flip side, depreciation below the support level at 1.6079 (S1) would enable our targets at 1.6035 (S2) and 1.5985 (S3) in potential.

USDJPY : 77.717 / 77.721
DAILY WEEKLY MONTHLY

78.17 | 78.01 | 77.86
77.69 | 77.51 | 77.33

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

MARKET ANALYSIS - Intraday Analysis

Current installation might suggest us about the bearish market sentiment. Morning decline below the key support level at 77.69 (S1) might open the road towards to lower targets, located at the same levels as yesterday for the downside penetration: 77.51 (S2) and 77.33 (S3).A move above the resistance level at 77.86 (R1) might drive price towards to the next target at 78.01 (R2) and any further rise would then be limited by last resistance at 78.17 (R3).

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

alayoua · September 14, 2012, 6:54am

[B]Market Overview by FXCC Sep 14 2012

On USD/JPY intervention watch today - Westpac

According to Sean Callow, senior currency strategist at Westpac: “Some support came from NY traders telling news wires that the Bank of Japan had checked prices. We also heard an anonymous Japanese govt official deeming post-FOMC yen moves to be ‘very excessive, speculative’.” Westpac are very much on Intervention watch today.

London session ahead will bring EU CPI and employment figures, along with Italy current account at 09:00 GMT, with no more EUR/USD macro data related for the day till the NY session time, when before it opens, US CPI and retail sales are expected at 12:30 GMT. No sovereign debt auction in the euro zone as usual for Fridays. Monthly currency options expire during the weekend.
Read More
https://support.fxcc.com/email/technical/14092012/

UPCOMING EVENTS :
2012-09-14 09:00 GMT E.M.U. Consumer Price Index (YoY) (Aug)
2012-09-14 12:30 GMT United States. Retail Sales (MoM) (Aug)
2012-09-14 13:15 GMT United States. Industrial Production (MoM) (Aug)
2012-09-14 13:55 GMT United States. Reuters/Michigan Consumer Sentiment Index (Sep) Preliminar

FOREX NEWS :
2012-09-14 04:36 GMT EUR/USD above 1.30 ahead of ECOFIN
2012-09-14 02:39 GMT AUD/JPY hits 82.00
2012-09-14 01:56 GMT AUD/USD breaks NY highs; targeting 1.0615
2012-09-13 23:23 GMT USD/JPY: BoJ eyeing 77.00 – V.Bednarik

EURUSD : 1.30259 / 1.30262
DAILY WEEKLY MONTHLY

1.3267 | 1.3179 | 1.3086
1.2959 | 1.2874 | 1.2789

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

MARKET ANALYSIS - Intraday Analysis

The European Council meeting today might bring additional volatility to the markets. We expect that EURUSD decline today however medium term bias remains positive. Uptrend development might face next resistance level at 1.3086 (R1). Brake here is essential for the bullish market participants with next targets in focus at 1.3179 (R2) and 1.3267 (R3). On the downturn, a consolidation might take the pair towards to eventual supports located at 1.2959 (S1), 1.2874 (S2) and 1.2789 (S3). Consumer Price Index release at 09:00 GMT is the next macroeconomic data in focus.

GBPUSD : 1.61997 / 1.62006
DAILY WEEKLY MONTHLY

1.6347 | 1.6289 | 1.6235
1.6164 | 1.6106 | 1.6048

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD gained momentum and maintained uptrend development. Currently pair trades at the day high and we see potential for further appreciation towards to next resistance at 1.6235 (R1). Brake here would suggest next targets at 1.6289 (R2) and 1.6347 (R3). Though, our short –term outlook is negative and easing towards to our next support level at 1.6164 (S1) is possible. Clear break here is required for further depreciation with next intraday targets at 1.6106 (S2) and 1.6048 (S3) in potential.

USDJPY : 77.636 / 77.642
DAILY WEEKLY MONTHLY

78.09 | 77.92 | 77.74
77.51 | 77.35 | 77.17

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

MARKET ANALYSIS - Intraday Analysis

USDJPY eased yesterday below the suggested support level at 77.69 and managed to reach our final target at 77.33. Market sentiment is bearish and brake below the support at 77.51 (S1) would suggest next target at 77.35 (S2). Price level at 77.17 (S3) is acting as final support level for the pair today. On the other hand, If the market manage to climb above the resistance level at 77.74 (R1) we expect next target to be achieved at 77.92 (R2) and any further rise would then be targeting to 78.09 (R3).

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

alayoua · September 17, 2012, 6:45am

[B]Market Overview by FXCC Sep 17 2012

China forecasts adjusted lower; rate cutting cycle over - Standard Chartered

Standard Chartered has just published a note to clients revising the 2012 and 2013 forecasts GDP for China, now looking at 7.8% growth in 2013, and a better H2 than H1; “We lower our GDP growth forecasts for 2012 and 2013 to 7.7% and 7.8%, respectively (from 8.1% and 8.7%), expecting clearer signs of the start of a moderate recovery to emerge in Q4-2012 and early 2013.” Furthermore, they, now believe “the interest rate cutting cycle has ended and expect the next move to be up, in late 2013.” Looking at the CNY, the bank thinks “it should remain stable against the USD in 2012, but appreciate mildly as the trade surplus revives in 2013-14.” Standard Chartered forecasts USD-CNY at 6.19 at end-2013, 6.00 at end-2014.

Not many macro economic data EUR related will be released during London session ahead, starting with EU current account and Italian trade balance at 08:00 GMT, followed by EU labor costs 1 hour later. In the EZ sovereign debt front France will auction some short term maturities, while headlines coming from Greece or Spain could be making headlines any time during the session.
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https://support.fxcc.com/email/technical/17092012/

UPCOMING EVENTS :
2012-09-17 08:00 GMT | E.M.U. Current Account s.a (Jul)
2012-09-17 08:00 GMT | E.M.U. Trade Balance s.a. (Jul)
2012-09-17 12:30 GMT | Canada. Canadian portfolio investment in foreign securities (Jul)
2012-09-17 12:30 GMT | United States. NY Empire State Manufacturing Index (Sep)

FOREX NEWS :
2012-09-17 04:37 GMT | EUR/USD unchanged above 1.31
2012-09-17 04:09 GMT | AUD/USD bias bearish - NAB
2012-09-17 02:16 GMT | GBP/JPY pulls back below 127.00
2012-09-17 01:53 GMT | Rebound in USD/JPY favoured - TDS

EURUSD : 1.31301 / 1.31307
DAILY WEEKLY MONTHLY

1.3355 | 1.3267 | 1.3179
1.3085 | 1.2995 | 1.2903

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

MARKET ANALYSIS - Intraday Analysis

Last week was totally positive for EUR. After the FOMC has announced unlimited purchases of MBS (Mortgage-backed Securities) at a pace of $40 billion per month and QE3 announcement, EURUSD rose to the new highs. Today we expect slow trading session ahead. Our next resistance level is placed above the fresh high at 1.3179 (R1), violation here might expose next targets at 1.3267 (R2) and 1.3355 (R3) if the uptrend remains in power. Correction is possible below the next support level, placed at 1.3085 (S1). Further decline below it might test next targets at 1.2995 (S2) and 1.2903 (S3) in potential.

GBPUSD : 1.62260 / 1.62271
DAILY WEEKLY MONTHLY

1.6347 | 1.6301 | 1.6255
1.6195 | 1.6145 | 1.6096

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

MARKET ANALYSIS - Intraday Analysis

GBPUSD currently deviates from its initial uptrend formation and we expect low volatility today. If the pair can breach the key resistance at 1.6255 (R1), we suggest next targets at 1.6301 (R2) and any further rise would then be limited by last resistance at 1.6347 (R3) intraday. From the other side, loss of next support at 1.6195 (S1) might encourage executing of protective orders and drive market price towards to the next targets at 1.6145 (S2) and 1.6096 (S3).

USDJPY : 78.299 / 78.302
DAILY WEEKLY MONTHLY

78.81 | 78.64 | 78.47
78.14 | 77.96 | 77.78

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

MARKET ANALYSIS - Intraday Analysis

Market stabilized after the Friday’s gains and we expect further consolidation development later on today as main scenario. Next support could be found at 78.14 (S1), clearance here is required to attack lower targets at 77.96 (S2) and 77.78 (S3). From the other side, if the pair manages to overcome the 78.47 (R1) level, we might see further appreciation towards to next targets at 78.64 (R2) and 78.81 (R3) in perspective.

Source: FX Central Clearing Ltd,( ECN Platform | Forex Broker Reviews | Online Forex Broker | FXCC )[/B]

alayoua · September 18, 2012, 2:28am

[B]Market Overview by FXCC Sep 18 2012

RBA minutes - Bias still to the downside

The RBA’s minutes for this month’s 4 Sep meeting is out, with plenty of downbeat commentary regarding the worsening outlook for Australia due to global and Chinese growth concerns, acknowledging prospects are now more uncertain. RBA added there is still scope to reduce the benchmark interest rate should outlook worsen significantly. The extent of RBA concern surrounding China appears to have worsened, while the potential for an October rate cut is very much on the cards. According to RBA, previous rate cuts are still working through economy.

London session ahead will only have a single risk event for the European morning coming out EUR related, but a key one, as German ZEW economic sentiment is, due at 09:00 GMT, which usually implies volatility. The UK will publish CPI figures at 08:30 GMT.
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https://support.fxcc.com/email/technical/18092012/

UPCOMING EVENTS :
2012-09-18 08:30 GMT | United Kingdom. Core Consumer Price Index (Aug)
2012-09-18 09:00 GMT | Germany. ZEW Survey - Economic Sentiment (Sep)
2012-09-18 12:00 GMT | United States. Fed’s Evans Speech
2012-09-18 12:30 GMT | United States. Current Account (Q2)

FOREX NEWS :
2012-09-18 04:39 GMT | GBP/USD flat around 1.6245 ahead of UK CPI data
2012-09-18 04:35 GMT | EUR/USD awaits ZEW around 1.31
2012-09-18 03:59 GMT | USD/JPY stalls below 79.00 ahead of BoJ
2012-09-18 04:14 GMT | NZD/USD gently bid above 0.8250

EURUSD : 1.31018 / 1.31021
DAILY WEEKLY MONTHLY

1.3355 | 1.3267 | 1.3179
1.3085 | 1.2995 | 1.2903

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

MARKET ANALYSIS - Intraday Analysis

EURUSD remains under the sideways direction and we leave all ours support and resistance at the same levels as yesterday. Upside direction is limited by the next resistance level at 1.3179 (R1), brake here would enable higher target at 1.3267 (R2). Sufficient momentum on the upside direction might expose last target at 1.3355 (R3) in potential. On the downturn, clear brake of support level at 1.3085 (S1) would enable target at 1.2995 (S2) and any further fall would then be limited by last support level at 1.2903 (S3). In focus the Germany ZEW Survey - Economic Sentiment release at 09:00 GMT.

GBPUSD : 1.62435 / 1.62444
DAILY WEEKLY MONTHLY

1.6392 | 1.6347 | 1.6301
1.6212 | 1.6165 | 1.6119

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

MARKET ANALYSIS - Intraday Analysis

BOE Inflation Letter might be a major market driver today for GBP however next important data release expected at 08:30 GMT - Core Consumer Price Index (Aug). GBPUSD penetrated above the suggested resistance level at 1.6255 yesterday but failed to establish positive tone. A further increase will then bring focus to the next resistance levels at 1.6301 (R1) and 1.6347 (R2). Final resistance can be found at 1.6392 (R3) level later on today. Next support level holds at 1.6212 (S1), brake below it would suggest next target at 1.6165 (S2) and any further fall would then be limited to 1.6119 (S3).

USDJPY : 78.648 / 78.654
DAILY WEEKLY MONTHLY

79.42 | 79.16 | 78.92
78.47 | 78.21 | 77.95

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

MARKET ANALYSIS - Intraday Analysis

USDJPY climbed yesterday above the suggested resistance level at 78.47 and hit our target at 78.81. Next resistance is spotted at 78.92 (R1), brake here might expose next target at 79.16 (R2) and any further rise would then be targeting 79.42 (R3). Our now bullish short term outlook will remain in place while USDJPY trades above the support at 78.47 (S1). A downside move below it might retest our next targets at 78.21 (S2) and 77.95 (S3) in potential.

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

alayoua · September 19, 2012, 2:34am

[B]Market Overview by FXCC Sep 19 2012

BOJ eases more than expected

The BOJ left the overnight call rate range unchanged between 0.0% and 0.1%. Amid much anticipated expectations of the BoJ following the Fed and ECB with further easing, the bank decided to increase the APP program by 10 trillion yen. The increase in the size corresponds to additional increases of treasury disccount bills by 5trillion yen and purchases in JGBs by another 5 trillion. BOJ keeps monthly JGB purchases at 1.8 trillion yen. As John Noonan, Head of IFR Markets, notes: “BOJ has eased a bit more than most were expecting. Market likes it and USD/JPY testing 79.00 level from 78.70 before announcment.”

Lack of macro economic EUR related data for the London session ahead will be the news, with only ECB Governing Council 2 day Meeting starting today, while in the sovereign debt auctions front Germany will sell up to € 5B in 2 year federal notes, and Portugal trying to sell up to € 1.75 in short term T-bills at 09:30 GMT. Portugal 10 year bonds reached past week record 1 ½ year-lows around 8% coming from as high as 17% from Feb 2012, last at 8.72%, while Germany is dealing with 4-month highs touched on Monday at 1.74%, last at 1.65%.
Read More
https://support.fxcc.com/email/technical/19092012/

UPCOMING EVENTS :
2012-09-19 08:30 GMT | United Kingdom. Bank of England Minutes
2012-09-19 09:00 GMT | Switzerland. ZEW Survey - Expectations (Sep)
2012-09-19 14:00 GMT | United States. Existing Home Sales Change (Aug)
2012-09-19 22:45 GMT | New Zealand. Gross Domestic Product (YoY) (Q2)

FOREX NEWS :
2012-09-19 04:48 GMT | GBP/JPY, blue sky until 130.00?
2012-09-19 04:14 GMT | EUR/USD spikes after BoJ
2012-09-19 04:03 GMT | JPY weakens across the board post-BoJ
2012-09-19 02:43 GMT | AUD/JPY peels back below 82.00

EURUSD : 1.30706 / 1.30711
DAILY WEEKLY MONTHLY

1.3227 | 1.3172 | 1.3116
1.2995 | 1.2941 | 1.2888

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

MARKET ANALYSIS - Intraday Analysis

EURUSD penetrated below the suggested support level at 1.3085 yesterday but failed to go much lower and reach any of our targets. Medium term bias remains positive and today we expect further appreciation if it manage to overcome next resistance level at 1.3116 (R1). Strengthening above it might open way towards to next targets at 1.3172 (R2) and 1.3227 (R3). Current retracement formation might face next support levels at 1.2995 (S1), 1.2941 and 1.2888 (S3) in potential. ZEW Survey - Expectations from Switzerland is the next macroeconomic data release in focus at 09:00 GMT.

GBPUSD 1.62525 / 1.62534
DAILY WEEKLY MONTHLY

1.6348 | 1.6308 | 1.6273
1.6218 | 1.6181 | 1.6144

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

MARKET ANALYSIS - Intraday Analysis

The GBPUSD trades in a sideways channel between our next support level at 1.6218 (S1) and resistance at 1.6273 (R1). A break in either direction might determine the trading bias for the medium term perspective. Bank of England Minutes at 08:30 GMT might provide sufficient impulse for the market move. Penetration above the 1.6273 (R1) would suggest next targets at 1.6308 (R2) and 1.6348 (R3) in potential. On the other side, loss of 1.6218 (S1) would enable targets at 1.6181 (S2) and 1.6144 (S3). We suggest waiting for a clear directional signal prior taking any positions

USDJPY : 79.164 / 79.167
DAILY WEEKLY MONTHLY

79.84 | 79.63 | 79.42
79.93 | 78.72 | 78.51

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

MARKET ANALYSIS - Intraday Analysis

After the BoJ Interest Rate Decision stays unchanged at 0.1%, USDJPY gained momentum and reached our target at 79.17 today. Technically, current bullish market sentiment will remain in place while USDJPY trades above the support level at 79.93 (S1). Our upwards targets locates at 79.42 (R1), 79.63 (R2) and 79.84 (R3) in potential. Conversely, decline below the suggested support level at 79.93 (S1) might initiate protective orders execution and expose next targets at 78.72 (S2) and 78.51 (S3).

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

alayoua · September 21, 2012, 6:05am

[B]Market Overview by FXCC Sep 21 2012

EU and Spanish authorities working on bailout program - FT

EU authorities are presumably, according to FT reporters Peter Spiegel and Miles Johnson, working behind closed doors on a an aid package to Spain as well as preparing for an open-ended bond purchases program by the ECB. Brussels is reportedly helping Madrid to tweak an economic reform plan thought to be announced next week, the FT reports. “According to officials involved in the discussions, talks between the Spanish government and the European Commission are focusing on measures that would be demanded by international lenders as part of a new rescue programme, ensuring they are in place before a bailout is formally requested. The plan will focus on structural reforms to the Spanish economy.”

London session ahead will lack any major risk event related to EUR, including sovereign debt auctions, as usual on Fridays, whit EZ periphery troubled countries yields at more reasonable levels, with Spanish 10y at 5.87%.
Read More
https://support.fxcc.com/email/technical/21092012/

UPCOMING EVENTS :
2012-09-21 07:30 GMT | Switzerland. SNB Quarterly Bulletin (Sep 21)
2012-09-21 08:30 GMT | United Kingdom. Public Sector Net Borrowing (Aug)
2012-09-21 12:30 GMT | Canada. Consumer Price Index (YoY) (Aug)
2012-09-21 16:40 GMT | United States. Fed’s Lockhart speech

FOREX NEWS :
2012-09-21 03:32 GMT | AUD/USD bid above 1.0450, Asian stocks support
2012-09-21 02:46 GMT | EUR/USD should see larger correction - DailyFX
2012-09-21 02:38 GMT | AUD/JPY limited below 82.00
2012-09-21 00:57 GMT | USD/JPY slightly boosted, ticks above 78.30

EURUSD : 1.29865 / 1.29867
DAILY WEEKLY MONTHLY

1.3078 | 1.3045 | 1.3012
1.2967 | 1.2932 | 1.2895

SUMMARY Up
TREND Up trend
MA10 Bullish
MA20 Bullish
STOCHASTIC Overbought

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Market continued correction yesterday and exposed our target at 1.2945. Main tendency remains positive and we expect further appreciation later on today. Main scenario: Potential of going higher is seen above the next resistance at 1.3012 (R1), surpassing of this level would suggest next targets at 1.3045 (R2) and 1.3078 (R3). Alternative scenario: If it fail to go higher, we might see further retracement development below the support at 1.2967 (S1) with next target in focus at 1.2932 (S2). Final target locates at 1.2895 (S3).

GBPUSD : 1.62542 / 1.62551
DAILY WEEKLY MONTHLY

1.6347 | 1.6311 | 1.6276
1.6232 | 1.6197 | 1.6163

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Currently Instrument appreciates by 0.3% and looks set for further gains later on today. On the slightly longer term formation of the correction is reasonable.Main scenario: Key resistance level locates at 1.6276 (R1), break here is required for uptrend formation targeting 1.6311 (R2) and 1.6347 (R3) in potential. Alternative scenario: Development of the pull back is possible below the next support level at 1.6232 (S1). A break here would suggest next target at 1.6197 (S2) and any further fall would then be targeting 1.6163 (S3).

USDJPY : 78.161 / 78.163
DAILY WEEKLY MONTHLY

78.71 | 78.54 | 78.38
78.01 | 77.85 | 77.69

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Instrument stabilized after the previous day’s losses and trades in a narrow channel without priority in direction on the hourly chart. In such situation we suggest waiting for a clear break out of important levels prior taking any positions. Main scenario: While medium term bias is negative we expect the break of next support level at 78.01 (S1) first. Next targets locates at 77.85 (S2) and 77.69 (S3) Alternative scenario: Possibility of the USDJPY strengthening is seen above the resistance at 78.38 (R1), targeting resistances at 78.54 (R2) and 78.71 (R3) in potential.

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

alayoua · September 25, 2012, 3:47am

[B]Market Overview by FXCC Sep 25 2012

RBA Financial Stability Review: Cautiously upbeat on the economy

According to the RBA Financial Stability Review, Australian households remain well positioned to pay back their debts. Looking at business appetite for debt, the central bank expects it to recover while reaffirming that corporate balance sheets are in good shape. The RBA commented that IMF tests indicate banks are likely to withstand severe shocks, although they remain strong to cope with any potential EZ shock, which they expect is likely to remain core risk to the global financial system. RBA warned that the decrease in profits by banks may promote unwanted riskier lending. RBA is confident that modest employment growth will continue, according to latest survey observations.

Busy day ahead for the London session in the sovereign debt auctions front, with Italy selling zero coupon bonds and the Netherlands up to € 2.5B worth of 20 year bonds, while Spain will try to sell 3 and 6 month bills. Italy’s 10 year bond yields have been around 5% for current week while Spain’s one have been below 6%, around multi-week lows.
Read More
https://support.fxcc.com/email/technical/25092012/

UPCOMING EVENTS :
2012-09-25 12:30 GMT | Canada. Retail Sales (MoM) (Jul)
2012-09-25 13:00 GMT | European Monetary Union. ECB President Draghi’s Speech
2012-09-25 14:00 GMT | United States. Consumer Confidence (Sep)
2012-09-25 17:30 GMT | United States. Treasury’s Geithner Speech

FOREX NEWS :
2012-09-25 04:43 GMT | GBP/USD still sideways below 1.6300
2012-09-25 02:31 GMT | AUD/USD snaps higher post China data
2012-09-25 01:26 GMT | Scenarios for EUR/USD to target 1.25 in Q4 - JPMorgan
2012-09-25 00:51 GMT | Has USD/JPY found temporal bottom?

EURUSD : 1.29362 / 1.29368
DAILY WEEKLY MONTHLY

1.3013 | 1.2984 | 1.2956
1.2923 | 1.2891 | 1.2860

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: EURUSD formed retracement formation yesterday, turning intraday bias to the negative side however market sentiment remains positive on the medium term perspective. ECB President Draghi’s Speech In focus today. Main scenario: Further easing might initiate protective orders execution and drive market price below the next support level at 1.2923 (S1). Next expected targets for locates at 1.2891 (S2) and 1.2860 (S3). Alternative scenario: Next resistance level is seen at 1.2956 (R1), clearance here would open way for strengthening towards to next targets at 1.2984 (R2) and 1.3013 (R3).

GBPUSD : 1.62254 / 1.62266
DAILY WEEKLY MONTHLY

1.6295 | 1.6270 | 1.6242
1.6212 | 1.6185 | 1.6157

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: The pair continues to extend its weakness on the short term perspective. We expect the pair to remain on a gradual downtrend formation today. Main scenario: Our 20 sma at 1.6212 (S1) acts as next support level. Below here opens the way for a return to 1.6185 (S2) price level. Potential is seen to reach final target at 1.6157 (S3) in perspective. Alternative scenario: Risk of upside penetration is seen above the next resistance at 1.6242(R1). Clearance here would suggest next targets at 1.6270 (R2) and 1.6295 (R3) in potential.

USDJPY : 77.790 / 77.796
DAILY WEEKLY MONTHLY

78.20 | 78.06 | 77.91
77.73 | 77.59 | 77.44

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Pair has settled negative bias on the hourly timeframe however pull back formation is possible. Today’s trading session has set up negative sentiment with instrument depreciation to -0.12% from its opening price. Main scenario: If instrument holds its momentum, we expect to see penetration below the next support at 77.73 (S1). In such scenario we suggest our next targets to be placed at 77.59 (S2) and 77.44 (S3). Alternative scenario: Our 20 sma might be considered as dynamic resistance for the instrument. Successful attack to the 77.91 (R1) price level might encourage correction formation with next targets in focus at 78.06 (R2) and 78.20 (R3)

Source: FX Central Clearing Ltd,( ECN Forex Brokers | Forex Converter | Forex Expert Advisors | FXCC )[/B]

alayoua · September 26, 2012, 7:23am

[B]Market Overview by FXCC Sep 26 2012

S&P downgrades South Australia

Standard & Poor’s Ratings Services said today that it has lowered its long-term issuer credit rating on the Australian State of South Australia and the state’s financing arm, South Australian Government Financing Authority, to ‘AA’ from ‘AA+’. At the same time, we affirmed the ‘A-1+’ short-term rating on both entities. The outlook is stable.

“The London session will be a relatively quiet one in EUR macro related terms, starting with French consumer confidence at 06:45 GMT, followed by Italy retail sales at 08:00 GMT, and German preliminary CPI at 12:00 GMT. In the sovereign debt auctions front Germany will try to sell up to € 5B in 10 year bunds at 06:00 GMT, while Italy will auction up to € 9B in 6-month bills. Germany 10 year yields closed yesterday in a relative safe 1.55% well above all time record lows from July at 1.12%, while Italy 10y yields hover around 5%. EU Vice President Rehn will attend final day at Havard University today.” Traders should also be alerted to possible headlines on the Spanish-bailout, protests front, Greece funding issues and any other EZ debt crisis-related news.
Read More
https://support.fxcc.com/email/technical/26092012/

UPCOMING EVENTS :
2012-09-26 08:30 GMT | United Kingdom. BOE Credit Conditions Survey
2012-09-26 10:00 GMT | United Kingdom. CBI Distributive Trades Survey - Realized
2012-09-26 14:00 GMT | United States. New Home Sales
2012-09-26 14:30 GMT | United States. EIA Crude Oil Stocks change

FOREX NEWS :
2012-09-26 04:43 GMT | GBP/USD stops triggered below 1.6150
2012-09-26 04:19 GMT | EUR/USD breaks down to 9-day lows
2012-09-26 03:06 GMT | AUD/CAD, a good sell into strength - Westpac
2012-09-26 02:57 GMT | AUD/JPY decline extends; 38.2% Fibo support in sight

EURUSD : 1.28735 / 1.28739
DAILY WEEKLY MONTHLY

1.2970 | 1.2935 | 1.2899
1.2860 | 1.2827 | 1.2793

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Technically, market sentiment is bearish now and we expect further instrument depreciation on the medium term perspective. However fresh low, form today is acting as a bottom peak of downwards channel on the hourly chart and pull back is possible towards to our resistance levels on the short term Main scenario: Further price decrease is expected below the next support level at 1.2860 (S1). Break here is required to enable next targets at 1.2827 (S2) and 1.2793 (S3). Alternative scenario: On the other hand, consolidation looks reasonable today. The price progress above the next resistance at 1.2899 (R1) might expose next targets at 1.2935 (R2) and 1.2970 (R3) in potential.

GBPUSD : 1.61679 / 1.61686
DAILY WEEKLY MONTHLY

1.6237 | 1.6214 | 1.6190
1.6149 | 1.6125 | 1.6099

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Pair already lost -0.15% percent from its opening price today and we expect some volatility increase later on today. Medium term bias is negative for the instrument and we might see new lows ahead. Main scenario: Next support level locates at fresh low, formed today -1.6149 (S1), pushdown of the price is possible below this level. We suggest next targets at 1.6125 (S2) and 1.6099 (S3). Alternative scenario: Failure to go lower suggested support level will put in focus our resistance level at 1.6190 (R1), break here would suggest next targets at 1.6214 (R2) and 1.6237 (R3).

USDJPY : 77.743 / 77.749
DAILY WEEKLY MONTHLY

78.20 | 78.06 | 77.91
77.65 | 77.48 | 77.31

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Yesterday instrument trades without a priority in direction. Stochastic Oscillator is approaching bottom zone and we expect to see some consolidation ahead in such market setup with price progress towards to our resistance levels. Main scenario: A break of technically important level at 77.91 (R1) might determine positive bias for today. Next suggested targets for upside direction locates at 78.06 (R2) and 78.20 (R3). Alternative scenario: If the pair gain momentum on the down side and retest our support level at 77.65 (S1), we suggest next targets at 77.48 (S2) and 77.31 (S3).

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

alayoua · September 27, 2012, 4:46am

[B]Market Overview by FXCC Sep 27 2012

Moody’s downgrade to Spain as early as today? - NAB

After poor risk sentiment on Wednesday, immediate risk now, according to NAB analysts, “is that Moody’s may act to slash Spain’s credit rating to junk, having warned in mid-June (when it cut Spain by three notched to Baa3) that further action was likely within three months.” The timing of ratings agency actions, NAB explains, “has been exquisite so don’t bet against this happening as early as today.”

Busy session ahead in London with all eyes focused on Spain, though there will also be plenty of risk events coming on the way. German import prices will be released at 06:00 GMT, followed 1 hour later by Spanish retail sales, German unemployment change at 07:55 GMT, EU M3 and private loans 5 minutes later along with Italy business sentiment, and EU business climate index and sentiment data at 09:00 GMT.
Read More
https://support.fxcc.com/email/technical/27092012/

2012-09-27 07:55 GMT | Germany. Unemployment Change
2012-09-27 08:30 GMT | United Kingdom. Gross Domestic Product
2012-09-27 12:30 GMT | United States. Core Durable Goods Orders
2012-09-27 14:00 GMT | United States. Pending Home Sales

2012-09-27 04:42 GMT | GBP/USD gently bid, UK GDP ahead
2012-09-27 04:35 GMT | EUR/USD capped below 1.2890
2012-09-27 03:43 GMT | JPY tone remains positive; 78.6% Fibo supports USD/JPY
2012-09-27 03:17 GMT | USD/CAD could hit an air pocket above 0.9850 – Saxobank

EURUSD : 1.28798 / 1.28803
DAILY WEEKLY MONTHLY

1.2970 | 1.2935 | 1.2899
1.2860 | 1.2827 | 1.2793

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Market refreshed its local lows yesterday and closed in negative territory. At the moment pair is gaining 0.16% and we expect further appreciation ahead. All our supports and resistance levels remain the same today. Main scenario: Next resistance level is seen at 1.2899 (R1). Penetration above it might resume market strengthening towards to the next target at 1.2935 (R2). Remaining resistance level for today locates at 1.2970 (R3). Alternative scenario: On the flip side, support levels lie at 1.2860 (S1). Break here is required to enable next targets at 1.2827 (S2) and 1.2793 (S3).

GBPUSD : 1.61854 / 1.61866
DAILY WEEKLY MONTHLY

1.6241 | 1.6222 | 1.6203
1.6169 | 1.6149 | 1.6130

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: The upwards momentum for the GBPUSD is likely to get acceleration towards to our next resistance level at 1.6203 (R1), exactly where the 38.2% Fibonacci level lies. Main scenario: Successful break through 1.6203 (R1) would open way for further upside formation towards to next targets at 1.6222 (R2) and 1.6241 (R3). Alternative scenario: Next support level stay at 1.6169 (S1), brake below it might provide a downside priority in direction for the remaining of the day. Next suggested targets at 1.6149 (S2) and 1.6130 (S3).

USDJPY : 77.657 / 77.662
DAILY WEEKLY MONTHLY

78.03 | 77.89 | 77.76
77.59 | 77.45 | 77.31

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Stochastic Oscillator is recently visit oversold zone and now is pointing up. We expect further penetration above the opening price and stabilization on the positive side later on today. Medium term bias remains neutral. Main scenario: Next resistance level lie at 77.76 (R1), rise above it would suggest next targets at 77.89 (R2) and 78.03 (R3). Alternative scenario: Risk of market decline is seen below the next support level at 77.59 (S1). Break here is required to enable initial downside targets at 77.45 (S2) and 77.31 (S3).

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

alayoua · September 28, 2012, 5:28am

[B]Market Overview by FXCC Sep 28 2012

First Spanish banks stress test leaks

According to James Glynn, Senior Economics Reporter Dow Jones/Wall Street Journal, “6 Spanish banks have been found to hold sufficient capital levels, while the remaining 8 that were stress tested will need more.” Majors are unchanged 90m into the Japan open, with HK opening now, which should bring some wider moves.

Friday’s London session will see Spanish current account being published, along with French GDP final at 05:30 GMT, followed by German retail sales 30 minutes later, French consumer spending and PPI 45 minutes after, Spanish CPI at 07:00 GMT, Italian PPI 1 hour later, EU and Italy CPI at 09:00 GMT, and ECB governing council member Asmussen to give a speech in Berlin at 11:00 GMT.
Read More
https://support.fxcc.com/email/technical/28092012/

UPCOMING EVENTS :
2012-09-28 07:00 GMT | Switzerland. KOF Leading Indicator
2012-09-28 12:30 GMT | Canada. Gross Domestic Product
2012-09-28 12:30 GMT | United States. Core Personal Consumption Expenditure - Prices Index
2012-09-28 13:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index

FOREX NEWS :
2012-09-28 04:39 GMT | EUR/USD above 1.29 ahead of Spanish banking sector stress test results
2012-09-28 03:55 GMT | NZD/USD triggers stops above 0.8350
2012-09-28 02:35 GMT | USD selling off across the board
2012-09-28 01:54 GMT | USD/JPY on a dovish gradient - OCBC

EURUSD : 1.29338 / 1.29342
DAILY WEEKLY MONTHLY

1.2995 | 1.2969 | 1.2944
1.2907 | 1.2884 | 1.2858

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: It seems that gradual decline from the major upside move expressed in correction formation comes to the end soon. Our next resistance level is the key point for the further uptrend development, if the market failed to break it today we expect to see decline below the suggested support level.Main scenario: Appreciation above the next resistance level at 1.2944 (R1) would suggest next targets at 1.2969 (R2) and 1.2995 (R3) for today and determine medium term bias. Alternative scenario: Bearish penetration below the support at 1.2907 (S1) would then targeting 1.2884 (S2) and 1.2858 (S3) intraday.

GBPUSD : 1.62613 / 1.62623
DAILY WEEKLY MONTHLY

1.6294 | 1.6281 | 1.6269
1.6243 | 1.6231 | 1.6217

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Yesterday positive tendency remains in power with the significant strengthening for the morning hours today. In near future we expect to see some consolidation and possibly pull back. However if it manage to stabilize above the next resistance level, market sentiment would be clearly bullish. Main scenario: Potential is seen for break above the 1.6269 level (R1) and open initial targets at 1.6281 (R2) and 1.6294 (R3) levels. Alternative scenario: Downside development remains for now limited by next support level at 1.6243 (S1), with only clear break here would be a signal of market weakening with next targets at 1.6231 (S2) and 1.6217(S3).

USDJPY : 77.533 / 77.538
DAILY WEEKLY MONTHLY

77.89 | 77.76 | 77.63
77.45 | 77.31 | 77.17

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: USDJPY almost reached our target at 77.45 and we expect further decline today as main scenario. It is clearly seen that pair broke sideways channel and volatility start gaining momentum on the hourly chart. Stochastic Oscillator is oversold and this is a good signal for the bearish market participants under the trend market conditions. Main scenario: Our next support locates at yesterday target – 77.45 (S1). Break here would open route towards to our next targets at 77.31 (S2) and 77.17 (S3). Alternative scenario: Appreciation above the next resistance level at 77.63 (R1) would suggest next targets at 77.76 (R2) and 77.89 (R3) on the upside part.

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

alayoua · October 1, 2012, 6:33am

[B]Market Overview by FXCC Oct 01 2012

ECB on wait-and-see mode this week - Nomura

No major policy announcements is expected from the ECB in October, says Nomura Senior European Economist Nick Matthews; “we do not expect any movement on rates as the Governing Council continues to see no urgency to cut rates again” the Economist notes. Furthermore, “while the ECB is likely to continue to expect inflation to remain in line with price stability over the policy-relevant horizon, we expect the Council to continue to stress that renewed intensification of financial market tensions could affect the balance of risks for both growth and inflation.” Nick notes that “recent Governing Council comments, including from within the Executive Board, have reinforced this sense of wait-and-see on interest rates.”

London session ahead will mostly bring manufacturing PMIs from several EZ countries starting with Spain at 07:13 GMT, followed 30 minutes later by Italy, France 5 minutes after, Germany another 5 minutes, and finally the EU’s and Greece at 07:58 GMT. Then will come Italy unemployment at 08:00 GMT, and EU’s unemployment 1 hour later.
Read More
https://support.fxcc.com/email/technical/01102012/

UPCOMING EVENTS :
2012-10-01 08:28 GMT | United Kingdom. Markit Manufacturing PMI
2012-10-01 09:00 GMT | European Monetary Union. Unemployment Rate
2012-10-01 14:00 GMT | United States. ISM Manufacturing PMI
2012-10-01 16:30 GMT | United States. Fed Chairman Bernanke Speaks

FOREX NEWS :
2012-10-01 04:36 GMT | USD/JPY can rise farther
2012-10-01 04:25 GMT | EUR/USD hardly above 1.28 round
2012-10-01 02:57 GMT | AUD/JPY slips below 80.50
2012-10-01 00:10 GMT | EUR/JPY returns below 100.00

EURUSD : 1.28212 / 1.28216
DAILY WEEKLY MONTHLY

1.2906 | 1.2879 | 1.2853
1.2800 | 1.2773 | 1.2745

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Friday’s volatility increase might be a signal of downtrend development however Stochastic Oscillator is pointing up on the hourly chart and we expect to see some deviation ahead. Main scenario: Intraday term bias remains negative below the next support at 1.2800 (S1). Break here would suggest next targets at 1.2773 (S2) and 1.2745 (S3). Alternative scenario: Risk of further appreciation is seen above the resistance at 1.2853 (R1), penetration above it might expose resistances at 1.2879 (R2) and 1.2906 (R3) as next targets for correction.

GBPUSD : 1.61268 / 1.61271
DAILY WEEKLY MONTHLY

1.6210 | 1.6182 | 1.6156
1.6108 | 1.6079 | 1.6049

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: GBPUSD failed to stabilize below the Friday’s low and we expect to see new attack to the fresh low, formed today. The medium term tendency is Bearish as both moving averages are pointing down. Main scenario: If GBPUSD manage to break through support level at 1.6108 (S1) we expect next targets at 1.6079 (S2) and 1.6049 (S3) to be exposed today. Alternative scenario: Next resistance level at 1.6156 (R1) in focus for the retracement formation. Progress above it would enable next target for today at 1.6182 (R2) and 1.6210 (R3).

USDJPY : 77.875 / 77.878
DAILY WEEKLY MONTHLY

78.28 | 78.19 | 78.10
77.83 | 77.75 | 77.67

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Instrument trades in positive tone after the Friday’ gains. On the hourly chart Stochastic Oscillator reached oversold zone and further increase is possible from current levels however we recommend to wait clear break out of Friday’s high for confirmation of the uptrend formation. Further decline below our support level might change overall technical picture and shift market sentiment to the bearish side. Main scenario: Next resistance is seen at 78.10 (R1). If the pair manages to successfully climb above it, we expect next targets at 78.19 (R2) and 78.28 (R3). Alternative scenario: While next support is placed at 77.83 (S1), decline below it would put in focus next target at 77.75 (S2) and any further depreciation would then be limited to 77.67 (S3) intraday.

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

alayoua · October 2, 2012, 5:02am

[B]Market Overview by FXCC Oct 02 2012

RBA cuts rate by 25bp; More may come in Nov

In today’s RBA decision, the central bank has decided to cut rates by 25bp from 3.5% to 3.25%. The initial market reaction was to aggressively sell the domestic currency, as market participants pricing for -25bp to about 65% being proven right. Only 9 out of 28 replying to a Bloomberg survey agreed to such outcome, so it has been certainly a close call among the investment community.

All rates are expected to remain on hold at this Thursday’s ECB meeting, according to Standard Chartered Economists. With regards to OMT bond-buying, the bank sees Spain making a request relatively soon. Looking at the EUR/USD, “We expect the pair to grind lower as a Q4-2012 rate cut will add to pressure” Analysts at the bank say.
Read More
https://support.fxcc.com/email/technical/02102012/

UPCOMING EVENTS :
2012-10-02 07:00 GMT | United Kingdom. Halifax House Prices
2012-10-02 08:30 GMT | United Kingdom. PMI Construction
2012-10-02 09:00 GMT | European Monetary Union. Producer Price Index
2012-10-02 Tentative | United Kingdom. 10-y Bond Auction

FOREX NEWS :
2012-10-02 05:04 GMT | AUD/NZD drops to new 2012 low after RBA
2012-10-02 05:01 GMT | EUR/AUD breaks above 2-week highs 1.25 post-RBA
2012-10-02 04:20 GMT | GBP/USD at risk for deeper correction?
2012-10-02 03:14 GMT | Buoyant AUD/JPY creeps above 81.00

EURUSD : 1.29123 / 1.29126
DAILY WEEKLY MONTHLY

1.3010 | 1.2974 | 1.2938
1.2875 | 1.2841 | 1.2806

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: EURUSD closed at the positive territory yesterday and further strengthening is possible today. Yesterday high is the reference point for the upside penetration, though decrease below the suggested support level would enable bearish forces. Main scenario: Clearance of next resistance level at 1.2938 (R1) would suggest next targets at 1.2974 (R2) and 1.3010 (R3). Alternative scenario: Loss of next support at 1.2875 (S1) might take the pair towards to eventual targets, located at 1.2841 (S2) and 1.2806 (S3) in potential.

GBPUSD : 1.61536 / 1.61541
DAILY WEEKLY MONTHLY

1.6227 | 1.6201 | 1.6176
1.6123 | 1.6098 | 1.6070

SUMMARY : Down
TREND : Downward penetration
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Consolidation, provided yesterday might extends its power however currently GBPUSD is gaining momentum on the upside and we expect to see retest of yesterday high. Main scenario: Next resistance level ahead locates at 1.6176 (R1), brake here is required to enable next target at 1.6201 (R2) and any further rise would then be limited to 1.6227 (R3). Alternative scenario: Instrument depreciation below the next support level at 1.6123 (S1) might expose next targets at 1.6098 (S2) and 1.6070 (S3) in potential.

USDJPY : 78.083 / 78.086
DAILY WEEKLY MONTHLY

78.40 | 78.29 | 78.19
77.97 | 77.89 | 77.79

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Stochastic Oscillator is recently visit overbought territory and now is pointing down. We expect to see consolidation formation ahead prior further market strengthening. However, easing below the expected support level would suggest retracement development. Main scenario: Currently our next resistance level lie at 78.19 (R1). Rise above it might provide sufficient space for the appreciation towards to next target at 78.29 (R2). Break here is required to enable last target for today at 78.40 (R3). Alternative scenario: Market decrease below the next support level at 77.97 (S1) would suggest about the retracement formation with next target at 77.89 (S2). Further instrument easing might face final support at 77.79 (S3).

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

alayoua · October 3, 2012, 4:32am

[B]Market Overview by FXCC Oct 03 2012

RBA cuts rate by 25bp; More may come in Nov

In today’s RBA decision, the central bank has decided to cut rates by 25bp from 3.5% to 3.25%. The initial market reaction was to aggressively sell the domestic currency, as market participants pricing for -25bp to about 65% being proven right. Only 9 out of 28 replying to a Bloomberg survey agreed to such outcome, so it has been certainly a close call among the investment community.

All rates are expected to remain on hold at this Thursday’s ECB meeting, according to Standard Chartered Economists. With regards to OMT bond-buying, the bank sees Spain making a request relatively soon. Looking at the EUR/USD, “We expect the pair to grind lower as a Q4-2012 rate cut will add to pressure” Analysts at the bank say.
Read More
https://support.fxcc.com/email/technical/02102012/

UPCOMING EVENTS :
2012-10-02 07:00 GMT | United Kingdom. Halifax House Prices
2012-10-02 08:30 GMT | United Kingdom. PMI Construction
2012-10-02 09:00 GMT | European Monetary Union. Producer Price Index
2012-10-02 Tentative | United Kingdom. 10-y Bond Auction

FOREX NEWS :
2012-10-02 05:04 GMT | AUD/NZD drops to new 2012 low after RBA
2012-10-02 05:01 GMT | EUR/AUD breaks above 2-week highs 1.25 post-RBA
2012-10-02 04:20 GMT | GBP/USD at risk for deeper correction?
2012-10-02 03:14 GMT | Buoyant AUD/JPY creeps above 81.00

EURUSD 1.29123 / 1.29126
DAILY WEEKLY MONTHLY

1.3010 | 1.2974 | 1.2938
1.2875 | 1.2841 | 1.2806

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: EURUSD closed at the positive territory yesterday and further strengthening is possible today. Yesterday high is the reference point for the upside penetration, though decrease below the suggested support level would enable bearish forces. Main scenario: Clearance of next resistance level at 1.2938 (R1) would suggest next targets at 1.2974 (R2) and 1.3010 (R3). Alternative scenario: Loss of next support at 1.2875 (S1) might take the pair towards to eventual targets, located at 1.2841 (S2) and 1.2806 (S3) in potential.

GBPUSD : 1.61536 / 1.61541
DAILY WEEKLY MONTHLY

1.6227 | 1.6201 | 1.6176
1.6123 | 1.6098 | 1.6070

SUMMARY : Down
TREND : Downward penetration
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Consolidation, provided yesterday might extends its power however currently GBPUSD is gaining momentum on the upside and we expect to see retest of yesterday high. Main scenario: Next resistance level ahead locates at 1.6176 (R1), brake here is required to enable next target at 1.6201 (R2) and any further rise would then be limited to 1.6227 (R3). Alternative scenario: Instrument depreciation below the next support level at 1.6123 (S1) might expose next targets at 1.6098 (S2) and 1.6070 (S3) in potential.

USDJPY : 78.083 / 78.086
DAILY WEEKLY MONTHLY

78.40 | 78.29 | 78.19
77.97 | 77.89 | 77.79

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Stochastic Oscillator is recently visit overbought territory and now is pointing down. We expect to see consolidation formation ahead prior further market strengthening. However, easing below the expected support level would suggest retracement development. Main scenario: Currently our next resistance level lie at 78.19 (R1). Rise above it might provide sufficient space for the appreciation towards to next target at 78.29 (R2). Break here is required to enable last target for today at 78.40 (R3). Alternative scenario: Market decrease below the next support level at 77.97 (S1) would suggest about the retracement formation with next target at 77.89 (S2). Further instrument easing might face final support at 77.79 (S3).

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

alayoua · October 4, 2012, 2:40am

[B]Market Overview by FXCC Oct 04 2012

Romney hits first in US debate

Is Mitt Romney breathing new life after the controversial campaign? It appears so after his first debate in front of Barack Obama. Polls show 56% of uncommitted voters say their opinion of Romney has changed for the better, while 13% say that about the President, according to Mark Knoller, CBS News White House Correspondent. According to results of CNN-ORC Post-Debate flash poll who won the debate, Romney 67%, Obama 25%.

A busy trading Thursday for the London session ahead as having plenty of risk events going on, starting with minor data in the form of CPI figures from the Netherlands at 07:00 GMT, followed by Ireland PM Kenny meeting with EU parliament president Schultz at 11:15 GMT, and then going for the long awaited ECB interest rates statement at 11:45 GMT, 45 minutes before ECB press conference starts. BoE will also deliver monetary policy announcement at 11:00 GMT which could add volatility to EUR/GBP cross. IMF will hold press conference at 14:30 GMT.
Read More

UPCOMING EVENTS :
2012-10-04 11:00 GMT | United Kingdom. BoE Interest Rate Decision
2012-10-04 11:45 GMT | European Monetary Union. ECB Interest Rate Decision
2012-10-04 14:00 GMT | United States. Factory Orders
2012-10-04 18:00 GMT | United States. FOMC Minutes

FOREX NEWS :
2012-10-04 04:54 GMT | EUR/USD has a range to break; ECB unlikely to be the catalyst
2012-10-04 04:31 GMT | USD/CAD rally pauses below trend line resistance
2012-10-04 02:36 GMT | EUR/AUD hits stops above 1.2670

EURUSD : 1.29279 / 1.29282
DAILY WEEKLY MONTHLY

1.3018 | 1.2987 | 1.2955
1.2895 | 1.2863 | 1.2829

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Markets would be driven today mostly by macroeconomic data releases. In focus ECB Interest rate decision at 11:45 GMT. From the technical side, deviation from its average parameters is low several days in a row and we expect to see volatility increase ahead. Main scenario: Next resistance level for today locates at 1.2955 (R1). Rise above it might lead to the further trend development with next possible targets at 1.2987 (R2) and 1.3018 (R3). Alternative scenario: Downside direction is limited by next support level at 1.2895 (S1), price decrease below it would be targeting next supports at 1.2863 (S2) and 1.2829 (S3).

GBPUSD : 1.60970 / 1.60977
DAILY WEEKLY MONTHLY

1.6198 | 1.6161 | 1.6127
1.6067 | 1.6034 | 1.6000

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Instrument continued its weakening on the hourly chart and our indicators clearly state downtrend formation on the short term perspective however in such situation market focus on Bank of England Rate Decision at 11:00 GMT. Main scenario: Price might retest our support at 1.6067 (S1) on the downside. Break here would suggest next target at 1.6034 (S2) and any further fall would then be targeting to 1.6000 (S3). Alternative scenario: Our next resistance stay at 1.6127 (R1), break here is required for market expansion towards to next targets at 1.6161 (R2) and 1.6198 (R3).

USDJPY : 78.616 / 78.618
DAILY WEEKLY MONTHLY

79.04 | 78.87 | 78.71
78.42 | 78.25 | 78.07

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Technically, USDJPY in uptrend formation and both moving averages acts now as dynamic support level. Fresh high, formed today is our key level for the further uptrend development. Main scenario: Next resistance ahead at 78.71 (R1), break here is required to open way for further appreciation towards to targets at 78.87 (R2) and 79.04 (R3). Alternative scenario: Price decline below the next support levels at 78.42 (S1) might trigger bearish pressure and enable next target at 78.25 (S2). A break below it would suggest last target for today at 78.07 (S3).

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

alayoua · October 5, 2012, 2:55am

[B]Market Overview by FXCC Oct 05 2012

ECB waits for Spain to act; bailout to come over the next month - Standard Chartered

The ECB looks set to keep rates on hold in November too, according to Standard Chartered European Economists Sarah Hewin and Thomas Costerg, while expecting recession “will trigger a cut by year-end” they note. Details on the new bond-buying plan remain thin, “but the ECB is likely to be tough on conditionality” the bank suspects. As per the timing abou the Spanish bailout, Standard Chartered thinks “they will need to ask for support over the next month, despite German reluctance.”

“The ECB left its Refi rate unchanged in line with expectations, although market reaction does suggest there were at least some hopes for a rate cut today”, says Vassili Serebriakov, Currency Strategist, Wells Fargo Bank. “With the ECB decision out of the way, markets will be looking ahead to US September nonfarm payrolls report”, he says. “Judging from recent US data, the jobs numbers should not be particularly weak, which in our view could play into further gains in risk-sensitive commodity and emerging currencies”.
https://support.fxcc.com/email/technical/05102012/

UPCOMING EVENTS :
2012-10-05 07:00 GMT | Switzerland. Foreign Currency Reserves
2012-10-05 10:00 GMT | Germany. Factory Orders senectus
2012-10-05 12:30 GMT | United States. Nonfarm Payrolls
2012-10-05 19:00 GMT | United States. Consumer Credit Change

FOREX NEWS :
2012-10-05 05:02 GMT | EUR/USD bulls regain upper-hand ahead of NFP fireworks
2012-10-05 03:40 GMT | USD/JPY drops to session lows post-BoJ
2012-10-05 03:14 GMT | BoJ Interest Rate Decision stays unchanged at 0.1%
2012-10-05 02:07 GMT | EUR/AUD stalling below 1.2720

EURUSD : 1.30154 / 1.30158
DAILY WEEKLY MONTHLY

1.3098 | 1.3065 | 1.3032
1.2998 | 1.2962 | 1.2926

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Bullish market sentiment remains in power today after the appreciation provided yesterday. United States Nonfarm Payrolls would be the main macroeconomic data release at 12:30 GMT. Main scenario: Brake above the resistance at 1.3032 (R1) would suggest next target at 1.3065 (R2) and any further gain would then be limited to 1.3098 (R3). Alternative scenario: Break below the support at 1.2998 (S1) might provide necessary space for retracement development. We suggest next target at 1.2962 (S2) and 1.2926 (S3) in potential.

GBPUSD : 1.61941 / 1.61945
DAILY WEEKLY MONTHLY

1.6289 | 1.6246 | 1.6204
1.6165 | 1.6123 | 1.6079

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: At the moment GBPUSD deviate from its up-trend formation and such stabilization might extend its power to the London session ahead. Stochastic Oscillator is pointing up and both moving averages are bullish, so far we expect further strengthening as main scenario later on today. Main scenario: Next resistance is maintained at 1.6204 (R1), break here might open space for a move to test targets at 1.6246 (R2) and 1.6289 (R3) in potential. Alternative scenario: Decrease below the support at 1.6165 (S1) might expose next targets at 1.6123 (S2) and 1.6079 (S3).

USDJPY : 78.391 / 78.395
DAILY WEEKLY MONTHLY

79.04 | 78.80 | 78.58
78.25 | 78.02 | 77.79

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Market trapped to the range trading mode after the yesterday gains. Medium term bias is positive and we expect to see retest of yesterday high today. However if the market depreciate below the support level we expect a correction development. Main scenario: Next resistance level lie at 78.58 (R1). Break here is required to enable targets at 78.80 (R2) and 79.04 (R3). Alternative scenario: Risk of price depreciation is seen below the next support level at 78.25 (S1). Price progress below it might expose next targets at 78.02 (S2) and 77.79 (S3) in perspective.

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