Daily Forex Market by FXCC

alayoua · October 8, 2012, 6:09am

[B]Market Overview by FXCC Oct 08 2012

HSBC Services PMI at 54.3 signals improvement

According to Markit Economics, the HSBC Composite PMI (covering manufacturing and services PMI) signaled a renewed expansion in business activity at 54.3 in September, up from 52.0; below 50.0 signals contraction, while above signals industry expansion.

Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:“Service sector growth picked up in September thanks to rising new business flows. This is likely an indication of a gradual improvement of domestic economic conditions due to the earlier easing measures and the stronger consumption demand in the run-up to the Golden week holiday.”
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UPCOMING EVENTS :
2012-10-08 07:15 GMT | Switzerland. Consumer Price Index
2012-10-08 10:00 GMT | Germany. Industrial Production
2012-10-08 21:45 GMT | New Zealand. Electronic Card Retail Sales
2012-10-08 23:45 GMT | Japan. Trade Balance - BOP Basis

FOREX NEWS :
2012-10-08 04:44 GMT | EUR/USD weekly start below 1.30
2012-10-08 03:52 GMT | AUD/JPY again below 80 round
2012-10-08 03:25 GMT | EUR/JPY dive stalls around 102 round
2012-10-08 01:22 GMT | USD/JPY limited below 100 DMA

EURUSD : 1.29880 / 1.29885
DAILY WEEKLY MONTHLY

1.3070 | 1.3042 | 1.3013
1.2968 | 1.2942 | 1.2915

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

MARKET ANALYSIS - Intraday Analysis
Technical Summary: Currently EURUSD trades on the negative side and we expect further consolidation development later on today as main scenario. However medium term tendency remains positive. Main scenario: Next upcoming support holds at 1.2968 (S1), break through here might take the pair towards to eventual targets located at 1.2942 (S2) and 1.2915 (S3) in potential. Alternative scenario: Price level at 1.3013 (R1) is a next attractive point for the uptrend penetration. If a break occur here we suggest gradual targets to be placed at 1.3042 (R2) and 1.3070 (R3).

GBPUSD : 1.61085 / 1.61089
DAILY WEEKLY MONTHLY

1.6174 | 1.6153 | 1.6131
1.6094 | 1.6075 | 1.6053

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

MARKET ANALYSIS - Intraday Analysis
Technical Summary: Instrument has settled negative bias on the hourly timeframe. We expect gradual decline towards to our support levels as main scenario today. Main scenario: If the market manage to brake next support level at 1.6094 (S1), we might exposure of possible targets at 1.6075 (S2) and 1.6053 (S3) later on today. Alternative scenario: Next resistance ahead is seen at 1.6131 (R1). Rising up above this level would suggest next targets at 1.6153 (R2) and 1.6174 (R3) in potential

USDJPY : 78.538 / 78.541
DAILY WEEKLY MONTHLY

78.96 | 78.81 | 78.64
78.42 | 78.26 | 78.10

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

MARKET ANALYSIS - Intraday Analysis
Technical Summary: We are not expecting significant volatility increase today and current range mode condition might extend its power for the remaining of the day. Main scenario: Measures of resistance might be activating when the pair approaches the 78.64 (R1), break here would suggest next target at 78.81 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 78.96 (R3). Alternative scenario: Our next support level stay at 78.42 (S1). Loss here might drive market price towards to next targets at 78.26 (S2) and 78.10 (S3) in perspective.

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

alayoua · October 9, 2012, 5:58am

[B]Market Overview by FXCC Oct 09 2012

IMF cuts global GDPs forecast, dowside risks worsen

The IMF has lowered the euro zone GDP outlook for 2012 by -0.1% to -0.4% from -0.3%, while setting a +0.2% in 2013 from +0.7%. Progress toward banking, fiscal union is required for rosier revisions. ECB could cut rates further, the institution says. Japan 2012 growth forecast was also cut to 2.2% from 2.4%, 2013 stands now at 1.2% from 1.5%. The BOJ easing program may help its GDP target, although more is needed to reach 1% inflation goal. China 2012 growth forecast was downgraded to 7.8% from 8.0%, 2013 forecast at 8.2% from 8.5%. On the US front, IMF said “imperative” to avoid year-end fiscal cliff, as it could reduce 4% of GDP in 2013 in the worst case scenario. U.S., Canadian economies GDPs are projected at around 2% in 2012 and 2013, but both face large downside risks. Cuts 2012 global GDP growth forecast to 3.3% from 3.5% in July and 2013 forecast to 3.6% from 3.9%. “General feeling of uncertainty” holding back global growth.

The UK is the focus of the day ahead, “with the August snapshot of industrial- and manufacturing sector output on offer as well as foreign trade data for the same month” Rabobank notes. The bank adds: “A small fall in industrial output is expected but after a pretty strong July reading, the sector is tracking to grow output in 3Q as a whole.” The NIESR, a UK Think Tank, will also release their estimate of 3Q GDP growth.
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UPCOMING EVENTS :
Tentative ECOFIN Meetings
2012-10-09 07:30 GMT | ECB President Draghi Speaks
2012-10-09 08:30 GMT | Manufacturing Production
2012-10-09 14:00 GMT | NIESR GDP Estimate

FOREX NEWS :
2012-10-09 05:00 GMT | GBP/USD consolidating ahead of UK data
2012-10-09 03:58 GMT | EUR/USD still below 1.30
2012-10-09 03:56 GMT | Will GBP/JPY’s sell-off extend?
2012-10-09 00:39 GMT | AUD/USD breaks Monday’s high, descending trendline

EURUSD 1.29813 / 1.29817
DAILY WEEKLY MONTHLY

1.3049 | 1.3024 | 1.2999
1.2968 | 1.2942 | 1.2917

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Yesterday pair gained momentum on the downside and close on the negative territory however medium term bias remains positive for EURUSD. Main scenario: Pair is moving towards to our next resistance level at 1.2999 (R1). Clearance here would suggest next targets at 1.3024 (R2) and 1.3049 (R3). Alternative scenario: The downside trend evolvement is limited by next support level at 1.2968 (S1), break here might lead to the targets execution at 1.2942 (S2) and 1.2917 (S3).

GBPUSD 1.60419 / 1.60426
DAILY WEEKLY MONTHLY

1.6127 | 1.6096 | 1.6066
1.6019 | 1.5990 | 1.5961

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Market sentiment is negative on GBPUSD as of yesterday sharp fall. We expect to see new lows formation today. Main scenario: Decline below the support level at 1.6019 (S1) would suggest next target at 1.5990 (S2) and any further easing would then be targeting 1.5961 (S3). Alternative scenario: If the price manages to stay above the suggested support at 1.6019 (S1), we expect attack to the resistance level at 1.6066 (R1). Clearance here is required for the instrument strengthening towards to our targets at 1.6096 (R2) and 1.6127 (R3) in potential.

USDJPY : 78.404 / 78.406
DAILY WEEKLY MONTHLY

78.76 | 78.62 | 78.48
78.28 | 78.14 | 78.00

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: USDJPY still is under the bullish pressure on the medium term perspective. Though, possibility of further market decline is high today. Main scenario: Next support level stays at 78.28 (S1). Break here would suggest next target at 78.14 (S2) and any further fall would then be limited by last support at 78.00 (S3). Alternative scenario: A medium-term bias is negative now though intraday bullish forces might be activated if the pair penetrates above the resistance level at 78.48 (R1). Next immediate resistance levels holds at 78.62 (R2) and 78.76 (R3).

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

alayoua · October 12, 2012, 2:31am

[B]Market Overview by FXCC Oct 12 2012

MAS surprises but still room to loosen policy - Capital Economics

The Monetary Authority of Singapore (MAS) left its policy stance unchanged today and it will continue to allow the NEER to trade within a target band of “modest and gradual appreciation”. The slope, mid-point and width of the target band will stay the same. The decision came despite stood at -1.5% q/q on an annualized basis in Q3.

A relatively quiet London session lies ahead, with no EZ sovereign debt auctions as usual on Fridays, and only minor EUR data related coming out, starting with French current account at 06:45 GMT, followed by the Netherlands trade balance at 07:30 GMT, Italy CPI at 08:00 GMT, and EU industrial production 1 hour later. The IMF-WB meetings will keep going throughout Sunday, with BoJ governor Shirakawa to speak at 12:20 GMT. Special attention might come from Spain, as the nation government holds its regularly weekly meeting, and markets expectations are growing on the country asking for the bailout after S&P downgraded Spain’s credit ranking to one notch away from junk status.
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All. IMF Meeting
2012-10-12 09:00 GMT European Monetary Union. Industrial Production
2012-10-12 12:30 GMT United States. Producer Price Index
2012-10-12 13:55 GMT United States. Reuters/Michigan Consumer Sentiment Index

2012-10-12 04:42 GMT GBP/USD pressured ahead of Europe
2012-10-12 04:33 GMT EUR/USD clings to range game; time to salute 1.30 again?
2012-10-12 02:34 GMT AUD/JPY threatening offers near 80.80
2012-10-11 23:34 GMT USD/JPY gently bid; further advances ahead?

EURUSD 1.29291 / 1.29294
DAILY WEEKLY MONTHLY

1.3009 1.2980 1.2951
1.2914 1.2885 1.2854

SUMMARY Up
TREND Upward penetration
MA10 Bullish
MA20 Bullish
STOCHASTIC Neutral

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Medium term bias remains positive and today we expect further appreciation as main scenario. Main scenario: Strengthening above the resistance at 1.2951 (R1) might open way towards to next targets at 1.2980 (R2) and 1.3009 (R3). Alternative scenario: Next support can be found at 1.2914 (S1), clearance here would enable lower targets at 1.2885 (S2) and 1.2854 (S3).

GBPUSD 1.60289 / 1.60296
DAILY WEEKLY MONTHLY

1.6109 1.6082 1.6057
1.6020 1.5993 1.5966

SUMMARY Up
TREND Upward penetration
MA10 Bearish
MA20 Bullish
STOCHASTIC Neutral

MARKET ANALYSIS - Intraday Analysis

Technical Summary: GBPUSD deviate from last week losses and current consolidation might extend its power above the suggested resistance levels today. Main scenario: Rise above the resistance at 1.6057 (R1) would suggest next target at 1.6082 (R2) and then final resistance can be found at 1.6109 (R3). Alternative scenario: Next support level holds at 1.6020 (S1), break here would suggest next target at 1.5993 (S2) and any further fall would then be limited to 1.5966 (S3).

USDJPY 78.341 / 78.343
DAILY WEEKLY MONTHLY

78.79 78.67 78.54
78.27 78.13 77.99

SUMMARY Up
TREND Upward penetration
MA10 Bullish
MA20 Bullish
STOCHASTIC Neutral

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Fresh high provided today is our key point for further instrument appreciation however penetration below the suggested support level might enable bearish force on the short term perspective. Main scenario: Next resistance is placed at 78.54 (R1), break here might expose next target at 78.67 (R2) and any further rise would then be targeting 78.79 (R3). Alternative scenario: Our now bullish short term outlook will remain in place while USDJPY trades above the support at 78.27 (S1). A downside move below it might expose our next targets at 78.13 (S2) and 77.99 (S3) in potential.

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

alayoua · October 15, 2012, 5:19am

[B][B]Market Overview by FXCC Oct 15 2012

Case for an RBNZ rate cut mounts - BNZ

The Reserve Bank of New Zealand may start to find it harder and harder to maintain its cash rate steady in the foreseeable future, according to BNZ economist Stephen Toplis. From Mr. Toplis: “A very weak PMI, followed by today’s weak PSI, intimates that Q3 GDP might print very poorly indeed. Consensus forecasts for global growth remain under pressure. The Australian economy is looking demonstrably shaky, resulting in grief for domestic manufacturers, and the RBA is easing. The NZD TWI sits stubbornly 1.4% above the RBNZ’s assumed Q4-average. And the annual CPI is about to print below the bottom edge of the RBNZ’s 1-3% target range. We, thus, now put the probability of an easing as high as 35%.”

The BNZ Analyt adds: “We stick with our view that rates are on hold for some time to come but warn that the downside risk should not be ignored. The market is now pricing in around an 85% chance of a cut over the coming 12 months. It’s been pricing in a reduction in rates consistently for much of the last year and we have railed against it. While we think the odds are overdone, the situation has certainly changed sufficiently for us to be much less aggressive in our dissension. For us the catalyst for an easing will be continued appreciation in the NZD accompanied by a stalling in the domestic housing market.”
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UPCOMING EVENTS :
2012-10-15 12:30 GMT | United States. Retail Sales
2012-10-15 14:30 GMT | Canada. Bank of Canada Business Outlook Survey
2012-10-15 19:00 GMT | Canada. BoC Governor Mark Carney Speech
2012-10-15 21:45 GMT | New Zealand. Consumer Price Index

FOREX NEWS :
2012-10-15 04:49 GMT | GBP/USD maintains bearish tendencies
2012-10-15 04:43 GMT | EUR/USD new week, same range
2012-10-15 04:14 GMT | AUD/NZD choppy below 1.2550
2012-10-15 03:13 GMT | EUR/JPY slide supported by trendline

EURUSD : 1.29080 / 1.29085
DAILY WEEKLY MONTHLY

1.2954 | 1.2937 | 1.2922
1.2890 | 1.2875 | 1.2860

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Today Instrument gained momentum on the negative side and formed correction from its initial uptrend formation. If it manages to break above the suggested resistance level we expect to see new step of uptrend development, otherwise depreciation below the support would lead to the deeper correction. Main scenario: Possible strengthening might arise above the next resistance level at 1.2922 (R1). Next targets holds at 1.2937 (R2) and 1.2954 (R3) levels. Alternative scenario: Downside development remains for now limited by next support level at 1.2890 (S1), clear break here would be a signal of market weakening, targeting 1.2875 (S2) and 1.2860 (S3) in potential.

GBPUSD : 1.60385 / 1.60394
DAILY WEEKLY MONTHLY

1.6132 | 1.6096 | 1.6059
1.6024 | 1.5983 | 1.5944

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: The medium term tendency is Bearish as both moving averages are pointing down and we expect that GBPUSD remains on the negative side today. Main scenario: Decrease below the expected support at 1.6024 (S1) might push price lower and enable our targets at 1.5983 (S2) and 1.5944 (S3). Alternative scenario: Upside formation is limited by next resistance level at 1.6059 (R1). If market manage to break it, further targets locates at 1.6096 (R2) and 1.6132 (R3).

USDJPY : 78.564 / 78.565
DAILY WEEKLY MONTHLY

78.95 | 78.79 | 78.63
78.43 | 78.26 | 78.09

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Pair has settled positive bias on the hourly timeframe and fresh high, formed today is our reference point for the instrument appreciation. Main scenario: Our next resistance level for today stay at 78.63 (R1), break here would enable next targets at 78.79 (R2) and 78.95 (R3). Alternative scenario: Possible depreciation below the support level at 78.43 (S1) would suggest next targets at 78.26 (S2) and 78.09 (S3).

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

alayoua · October 17, 2012, 2:37am

[B]Market Overview by FXCC Oct 17 2012

Moody’s confirms Spain’s government bond rating at Baa3, negative outlook

Moody’s issued the following statement in downgrading Spain’s sovereign credit rating outlook to negative: Moody’s Investors Service yesterday confirmed the Kingdom of Spain’s Baa3 government bond rating and assigned a negative outlook to the rating. In addition, Moody’s has confirmed Spain’s short-term rating at §Prime-3. Rating action concludes the review for possible further downgrade of Spain’s rating that Moody’s had initiated on 13 June 2012.

In summary, Moody’s believes that the combination of euro area and ECB support and the Spanish government’s own efforts should allow the government to maintain capital market access at reasonable rates, providing it with the time it needs to stabilise public debt over the next few years. In Moody’s view, the maintenance of market access is critical because the risk that some form of burden-sharing will be imposed on bondholders is material for those countries that rely entirely or to a very large extent on official-sector funding for an extended period of time.
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UPCOMING EVENTS :
2012-10-16 08:30 GMT | United Kingdom. Bank of England Minutes
2012-10-16 09:00 GMT | Switzerland. ZEW Survey - Expectations
2012-10-16 09:15 GMT | United Kingdom. BOE Deputy Governor Paul Tucker speech
2012-10-16 12:30 GMT | United States. Housing Starts

FOREX NEWS :
2012-10-17 02:55 GMT | GBP/USD at key 61.8 fibo; awaits BoE minutes
2012-10-17 01:26 GMT | USD/JPY ranges ahead of 79.00 sellers
2012-10-17 00:26 GMT | AUD/USD follows Euro tail; 1.0330/35 next hurdle
2012-10-16 21:32 GMT | EUR/USD tests 1.3100 on Moddy’s Spanish rating

EURUSD : 1.30944 / 1.30947
DAILY WEEKLY MONTHLY

1.3199 | 1.3160 | 1.3125
1.3064 | 1.3027 | 1.2992

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Moody’s confirms Spain’s government bond rating at Baa3 with the negative outlook yesterday and that drives market price towards to new levels. Market sentiment is clearly bullish. Main scenario: In terms of technical levels next resistance level could be found at 1.3125 (R1). Appreciation above it might enable next targets at 1.3160 (R2) and 1.3199 (R3) in potential. Alternative scenario: Our next support level holds at 1.3064 (S1). Price penetration below it might open way towards to next targets at 1.3027 (S2) and 1.2992 (S3).

GBPUSD : 1.61262 / 1.61266
DAILY WEEKLY MONTHLY

1.6192 | 1.6163 | 1.6135
1.6101 | 1.6074 | 1.6045

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Market is waiting for Bank of England Minutes at 08:30 GMT. Technically, further market rise is more likely scenario for today while both moving averages are pointing up. Main scenario: If the price manages to progress above the next resistance at 1.6133 (R1) we suggest next targets at 1.6154 (R2) and 1.6177 (R3) in potential. Alternative scenario: Next support level locates 1.6107 (S1) today, possible pushdown of the price below it would suggest next targets at 1.6085 (S2) and 1.6062 (S3).

USDJPY : 78.632 / 78.636
DAILY WEEKLY MONTHLY

79.03 | 78.91 | 78.78
78.61 | 78.50 | 78.38

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: USDJPY still trades under the bullish pressure on the medium term perspective. Though, possibility of further market decline is high today as a part of correction development. Main scenario: We expect to see retest of our support at 78.61 (S1) today. Easing below it would suggest next targets at 78.50 (S2) and 78.38 (S3) in potential. Alternative scenario: Our next resistance level is placed at 78.78 (R1). Break above it might open initial targets at 78.91 (R2) and 79.03 (R3) in potential.

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

alayoua · October 18, 2012, 3:00am

[B]Market Overview by FXCC Oct 18 2012

China’s Q3 GDP in line with estimates at 7.4%; Q3 print slightly better-than-expected

Chinese Real GDP for 3Q came as expected, printing 7.4% y/y growth - previously 7.6% y/y , hich had been the lowest reading since March 09. The Q3 seasonally adjusted number, however, came above expectations at 2.2% vs 1.8% consensus. While China’s economy slows, data can be perceived as slightly better-than-expected, with QoQ numbers strengthening above cooling calls. Adds to signs China economy is bottoming. Ind Production came upbeat at 9.2% vs 9.0% exp, Fixed Investment better stood at 20.5% vs 20.2% expected, while retail sales were much better at 14.2 vs 13.2%.

Chinese Premier Wen noted that China’s Q3 economic situation was ‘relatively good’ and that economic growth was stabilising. A better than expect GDP print will be positive for risk appetite, particularly given how far Chinese growth expectations have fallen over recent months. AUD, NZD and Asian currencies would push through recent highs on such an outcome.
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UPCOMING EVENTS :
2012-10-18 08:30 GMT | United Kingdom. Retail Sales
2012-10-18 12:30 GMT | United States. Unemployment Claims
2012-10-18 14:00 GMT | United States. Philadelphia Fed Manufacturing Survey
2012-10-18 | Spanish 10-y Bond Auction

FOREX NEWS :
2012-10-18 04:39 | GMT EUR/AUD dip stalls at 1.26 as Asia turns ‘risk on’
2012-10-18 01:38 | GMT AUD/JPY staying bid above 82.00
2012-10-18 00:36 | GMT EUR/JPY consolidates at 4-wk highs
2012-10-17 23:14 | GMT USD/JPY surges above 79.00

EURUSD : 1.30964 / 1.30969
DAILY WEEKLY MONTHLY

1.3199 | 1.3163 | 1.3125
1.3064 | 1.3027 | 1.2992

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: The pull back from yesterday’s high might be considered as price retracement from major uptrend formation. Pair is quoting roughly -0.17 % below its opening price and our short term outlook is negative today. Main scenario: Current downside formation is limited by next support level at 1.3064 (S1). Break here is required for further depreciation towards to our targets at 1.3027 (S2) and 1.2992 (S3) in potential. Alternative scenario: We see potential for further appreciation towards to next targets at 1.3163 (R2) and 1.3199 (R3) if it manage to overcome our next resistance level at 1.3125 (R1).

GBPUSD : 1.61294 / 1.61303
DAILY WEEKLY MONTHLY

1.6172 | 1.6157 | 1.6142
1.6114 | 1.6099 | 1.6083

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: GBPUSD tested negative side today and we are not expecting major changes in current tendency. Not many macroeconomic data releases expected today however UK Retail Sales announcement at 08:30 GMT might bring additional volatility. Main scenario: Next support could be found at 1.6114 (S1), clearance here is required to attack lower targets at 1.6099 (S2) and 1.6083 (S3). Alternative scenario: If the pair can breach our next resistance at 1.6142 (R1), we suggest next target at 1.6157 (R2) and any further rise would then be limited by last resistance at 1.6172 (R3) intraday.

USDJPY : 79.161 / 79.164
DAILY WEEKLY MONTHLY

79.43 | 79.32 | 79.20
79.08 | 78.97 | 78.86

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: The pair is under the bullish pressure, as both of our Moving Averages are aggressive towards the price trading above it. Fresh high, formed today is our next reference point for further market appreciation. Main scenario: Key resistance is seen at 79.20 (R1). Clearance here would suggest next targets at 79.32 (R2) and 79.43 (R3). Alternative scenario: The downside trend evolvement is limited by next support level at 79.08 (S1), break here might lead to the targets execution at 78.97 (S2) and 78.86 (S3).

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

alayoua · October 19, 2012, 2:59am

[B]Market Overview by FXCC Oct 19 2012

Framework for banking union by end of 2012

European Union leaders, according reports from Reuters, have agreed on a legal roadmap to establish a single bank supervisor for the union. A text of draft conclusions on the first day of talks in the ongoing EU summit in Brussels said leaders struck a deal on “the objective of completing the legal framework by the end of the year” with implementation “in the course of 2013”, Reuters said. EU Economic and Monetary Affairs Commissioner Olli Rehn commented, cited by Reuters, that reaching such deal is key “to break the vicious circle between sovereigns and banks”. Framework for banking union by end of 2012, completion by early 2014, and is to cover 6,000 banks, according to a French official.

They added that potential for direct bank recapitalization from bailout funds in 2013. However, the German counterparts have denied that bank recapitalization can take place in early 2013. From German government source cited by Reuters: “Direct recapitalization of banks in first qtr of 2013 is ‘very unlikely’. Can only begin once an effective single banking supervisor is in place. ECB will be responsible for systemically important banks, but will oversee other banks if necessary. There will be a mix of supervision between ECB and national supervisors.” Frictions between Germany and France on how to go about the banking supervisor authority had been a troubling sticking point, with German Chancellor Angela Merkel demanding stronger authority to veto national budgets that breach EU rules, while French President Francois Hollande had been more supportive of moving towards a European banking union.
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UPCOMING EVENTS :
2012-10-19 06:00 GMT | Germany. Producer Price Index
2012-10-19 12:30 GMT | Canada. Consumer Price Index
2012-10-19 14:00 GMT | United States. Existing Home Sales Change
2012-10-19 N/A | E.M.U. European Council meeting

FOREX NEWS :
2012-10-19 02:57 GMT | GBP/JPY bears still defending 128.00 fig.
2012-10-19 01:54 GMT | GBP/USD bearish while below 1.6065
2012-10-19 00:30 GMT | AUD/USD has double failure above 1.04
2012-10-19 00:17 GMT | USD/JPY maintains positive bias, resistance at 79.65

EURUSD : 1.30715 / 1.30719
DAILY WEEKLY MONTHLY

1.3133 | 1.3107 | 1.3084
1.3055 | 1.3031 | 1.3007

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Both moving averages are pointing down and we see potential of further depreciation later on today as main scenario though medium term tone remains positive. Main scenario: Next attractive support level locates at 1.3055 (S1). Break here is required to put in focus lower target at 1.3031 (S2) and 1.3007 (S3). Alternative scenario: Appreciation above the resistance level at 1.3084 (R1) would suggest higher targets at 1.3107 (R2) and 1.3133 (R3).

GBPUSD : 1.60617 / 1.60625
DAILY WEEKLY MONTHLY

1.6112 | 1.6091 | 1.6072
1.6041 | 1.6021 | 1.6001

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Yesterday market depreciation has determined negative market sentiment for the trading session ahead.Main scenario: Downtrend resuming is possible below the next support level at 1.6041 (S1). Clearance of this level might expose next targets at 1.6021 (S2) and 1.6001 (S3) during the day. Alternative scenario: Next resistance level holds at 1.6072 (R1), break here would suggest next targets at 1.6091 (R2) and 1.6112 (R3) in potential.

USDJPY : 79.299 / 79.303
DAILY WEEKLY MONTHLY

79.66 | 79.53 | 79.41
79.25 | 79.13 | 79.00

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Upside formation remains in power on the medium term perspective however market looks overbought on the hourly chart and today we expect an attack to our support levels. Main scenario: Bearish penetration below the support level at 79.25 (S1) would then targeting 79.13 (S2) and 79.00 (S3) intraday. Alternative scenario: Appreciation above the next resistance level at 79.41 (R1) would suggest next targets at 79.53 (R2) and 79.66 (R3) in perspective.

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

alayoua · October 22, 2012, 2:46am

[B]Market Overview by FXCC Oct 22 2012

Rajoy gets landslide victory in Galicia

El PaÍs reported a landslide victory by Rajoy in Galicia. In Europe, things seem to be progressing. Reuters is reporting that the Troika deal is 90% complete, according to the Greek Finance Minister, and that the Greek Prime Minister expects his nation to receive the next tranche of loans by the end of November; the November timeline is key, given that Greece will reportedly run out of adequate reserves by the 16th of that month.

Elsewhere in the region, eyes are on Spain as the Spanish province of Galicia becomes a focus for global investors, with a key election underway today; Mariano Rajoy’s ruling People’s Party is in the lead according to early exit polls. Economists continue to expect that Spain will do what is needed to secure ECB help in November, and a bailout would certainly help to soothe persistent fears about the breakup of the European Union.
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https://support.fxcc.com/email/technical/22102012/

UPCOMING EVENTS :
2012-10-22 06:00 GMT | United Kingdom. Nationwide Housing Prices
2012-10-22 07:00 GMT | Switzerland. Monthly Statistical Bulletin
2012-10-22 07:00 GMT | Australia. RBA Assist Gov Debelle Speech

FOREX NEWS :
2012-10-22 04:15 GMT | EUR/AUD consolidation a continuation pattern?
2012-10-22 01:51 GMT | EUR/JPY, post ‘4-yr trendline’ era; 104.00 still tough
2012-10-22 00:19 GMT | AUD/USD tests bids through 1.3000

EURUSD : 1.30560 / 1.30565
DAILY WEEKLY MONTHLY

1.3111 | 1.3089 | 1.3066
1.3031 | 1.3007 | 1.2983

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Technically, EURUSD is under the uptrend formation on the medium term perspective and appreciation above the expected resistance levels might open road towards to new targets. Main scenario: Our next resistance level could be found at 1.3066 (R1). Appreciation above it might enable next targets at 1.3089 (R2) and 1.3111(R3) in potential. Alternative scenario: We expect to see retest of our support at 1.3031 (S1) today. Easing below it would suggest next targets at 1.3007 (S2) and 1.2983 (S3) in potential.

GBPUSD : 1.60303 / 1.60311
DAILY WEEKLY MONTHLY

1.6089 | 1.6068 | 1.6046
1.6011 | 1.5989 | 1.5965

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: GBPUSD aimed to recover previous day’s losses by trading most of the time on the positive side today. We expect further appreciation towards to our resistance levels today however medium term bias remains negative. Main scenario: If the pair manages to overcome our next resistance level at 1.6046(R1), we expect further progress towards to new targets at 1.6068 (R2) and 1.6089 (R3) in potential. Alternative scenario: Next support level locates at 1.6011 (S1). Decline below it might resume weakness towards to 1.5989 (S2). Selling pressure might face final support at 1.5965 (S3) intraday.

USDJPY : 79.619 / 79.621
DAILY WEEKLY MONTHLY

79.93 | 79.82 | 79.66
79.46 | 79.30 | 79.13

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: USDJPY gained momentum on the positive side today and our main scenario is bullish on the short term perspective, though further market decline is possible later on today. Main scenario: Climb above the resistance level at 79.66 (R1) might open way for the price appreciation towards to the target at 79.82 (R2). Last target for today locates at 79.93 (R3). Alternative scenario: If the price manage to stabilize on current levels and clearly brake our next support level at 79.46 (S1) we expect correction development with next targets at 79.30 (S2) and 79.13 (S3).

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

alayoua · October 23, 2012, 5:48am

[B]Market Overview by FXCC Oct 23 2012

Spain is now where Greece was three years ago.

Steen Jakobsen, Chief Investment Officer at Saxo Bank, on an attempt to emphasize the dire financial picture in Spain, and what may come further down the road, notes Spain is now where Greece was three years ago. Mr. Jakobsen notes: "Spain is facing negative fiscal multipliers as any move toward austerity will aggravate the negative economic spiral. Even the IMF has now admitted that fiscal multipliers are far higher than previously assumed (0.9 to 1.7 vs. previous 0.5), meaning the end is not near to this crisis. The problem for Spain is the same as for Greece: a mandate for change forced on the population by unelected and non-accountable officials in offices in Brussels or Frankfurt is never going to last for long. "

Moody’s Investors Service announced downgrades by one or two notches the ratings in five Spanish regions, including Andalucia, Extremadura, Castilla-La Mancha, Catalunya, and Murcia. In the statement, Moody’s also confirms the ratings of the Basque Country and the Diputacion Foral de Bizkaia at Baa2. In addition, the ratings of the regions of Madrid, Castilla y Leon and Galicia have also been confirmed at Baa3. The ratings of Valencia were also confirmed at B1.
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https://support.fxcc.com/email/technical/23102012/

UPCOMING EVENTS :
2012-10-23 12:30 GMT | Canada. Retail Sales
2012-10-23 13:00 GMT | Canada. BoC Interest Rate Decision
2012-10-23 14:00 GMT | E.M.U. Consumer Confidence
2012-10-23 17:00 GMT | United Kingdom. BoE’s Governor King Speech

FOREX NEWS :
2012-10-23 04:50 GMT | GBP/USD flat above 1.6000, bearish below 1.5970
2012-10-23 02:52 GMT | EUR/AUD set for breakout, but in which direction?
2012-10-22 23:52 GMT | USD/JPY threatening 80.00
2012-10-22 21:26 GMT | EUR/JPY surges toward 61.8% Fibo resistance

EURUSD : 1.30580 / 1.30583
DAILY WEEKLY MONTHLY

1.3099 1.3087 1.3075
1.3048 1.3037 1.3025

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Instrument tested negative side today and we see possibility of further market decline later on today. Main scenario: A short-term neutral bias might face immediate support at 1.3048 (S1). Lower targets are placed at 1.3037 (S2) and 1.3025 (S3) in case of successful penetration here. Alternative scenario: Next resistance is placed above the fresh high at 1.3075 (R1), a break above it would extend gains towards to next targets at 1.3087 (R2) and 1.3099 (R3).

GBPUSD : 1.60146 / 1.60154
DAILY WEEKLY MONTHLY

1.6052 1.6038 1.6024
1.6006 1.5992 1.5977

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Both moving averages now are pointing down and we expect further easing today below the expected support levels. Main tendency on the medium term remains negative. Main scenario: Downside direction is limited by next support level at 1.6006 (S1), price decrease below it would be targeting next supports at 1.5992 (S2) and 1.5977 (S3). Alternative scenario: Our next resistance locates at 1.6024 (R1). Successful attack here would put in focus next target at 1.6038 (R2) and any further rise would then be targeting to 1.6052 (R3).

USDJPY : 79.909 / 79.913
DAILY WEEKLY MONTHLY

80.31 80.15 80.01
79.78 79.64 79.49

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Positive tendency remains in power today however in near future we expect to see some consolidation and possibly pull back from its initial price increase. Main scenario: Our next resistance stay at 80.01 (R1), break here is required for market expansion towards to next targets at 80.15 (R2) and 80.31 (R3). Alternative scenario: If the marked decline below the support at 79.78 (S1), we expect price downgrade towards to our targets at 79.64 (S2) and 79.49 (S3) as a part of consolidation.

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

alayoua · October 24, 2012, 5:48am

[B]Market Overview by FXCC Oct 24 2012

Euro searching for catalyst strong enough to break its range, FOMC eyed

Looking ahead, the Federal Reserve’s policy setting committee began a two-day meeting, with a policy statement to be released Wednesday.According to Marc Chandler, Global Head of Currency Strategy at BBH, given the proximity of the election and the fact that an open-ended asset purchase plan was announced last month (QE3 or QE+), there will be a great deal more talk than action at the FOMC meeting.

“There are two issues that market expects the Fed to discuss. The first may fall under communication, but is really more substantive”, says BBH. “Currently the Fed uses a calendar date approach, now mid-2015 to guide expectations of the minimum amount of time the Fed will keep interest rates low. There has been some talk…that perhaps the Fed should provide numerical targets”. The second issue addresses the amount of securities the Fed is purchasing, says BBH analyst. “The question here is whether the Fed should roll the $45 bln a month in Treasuries it is buying under Operation Twist (and selling short-end holdings) and roll them into QE3+”, he explains. “This would mean buying $85 bln a month in MBS and Treasuries a month”.
https://support.fxcc.com/email/technical/24102012/

UPCOMING EVENTS :
2012-10-24 14:00 GMT | United States. New Home Sales
2012-10-24 15:15 GMT | Canada. BoC Press Conference
2012-10-24 18:15 GMT | United States. Fed’s Monetary Policy Statement and press conference
2012-10-24 | European Monetary Union. ECB President Mario Draghi Visits Germany

FOREX NEWS :
2012-10-24 05:02 GMT | EUR/USD looking ahead to EZ PMI, FOMC
2012-10-24 00:43 GMT | AUD/USD spike hits 1.0300 post-AU CPI
2012-10-23 23:23 GMT | Buy dips on gold towards a $1775 target - Nomura
2012-10-23 21:24 GMT | AUD/JPY bears protecting 82.70

EURUSD : 1.29865 / 1.29869
DAILY WEEKLY MONTHLY

1.3037 | 1.3013 | 1.2994
1.2971 | 1.2951 | 1.2930

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Plenty of macroeconomic data releases ahead. Today in focus ECB President Mario Draghi speech at 14:00 GMT and Fed’s Monetary Policy Statement and press conference at 18:15 GMT. Technically, instrument extended its weakening and determined negative bias on the medium term perspective. Main scenario: Risk of further depreciation is seen below the next support level at 1.2971 (S1). Clearance here might put selling pressure to the pair and enable next targets at 1.2951 (S2) and 1.2930 (S3). Alternative scenario: Our next resistance level is placed above the fresh high, provided today at 1.2994 (R1). Strengthening above it would suggest higher targets at 1.3013(R2) and 1.3037 (R3).

GBPUSD : 1.59487 / 1.59488
DAILY WEEKLY MONTHLY

1.5993 | 1.5975 | 1.5956
1.5931 | 1.5913 | 1.5894

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Technically, picture is negative for GBPUSD. We expect gradual market decline later on today however possibility of consolidation development is seen above our resistance levels. Main scenario: Next support level in focus at 1.5931 (S1), if it manages to break our support here we suggest next targets at 1.5913 (S2) and 1.5894 (S3). Alternative scenario: Successful attack to the next resistance level at 1.5956 (R1) might establish retracement formation with next targets at 1.5975 (R2) and 1.5993 (R3) in focus.

USDJPY : 79.807 / 79.809
DAILY WEEKLY MONTHLY

80.22 | 80.08 | 79.94
79.78 | 79.64 | 79.49

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Yesterday USDJPY continued its consolidation and now is settled for a move. We expect retest of our resistance level today. If it fails to establish positive bias likely we will see a correction development on the hourly timeframe. Main scenario: Next resistance at 79.94 (R1) comes ahead. The break here is required for the price appreciation towards to next target at 80.08 (R2) and any further rise would then be targeting to 80.22 (R3). Alternative scenario: Downside fluctuations remains for now limited by next support level at 79.78 (S1), only clear break here would be a signal of market easing, targeting 79.64 (S2) and 79.49 (S3) in potential.

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

alayoua · October 25, 2012, 2:37am

[B]Market Overview by FXCC Oct 25 2012

RBNZ rate cut expected ‘next few months’

As expected, the Reserve Bank of New Zealand (RBNZ) kept its cash rate on hold at 2.5% today, with Gov. Wheeler noting that market sentiment has improved, that the risks to the global outlook have become more balanced, that a strong NZD undermines the fundamentals of the NZ’s economy, which, he says, is expected to continue growing at a modest pace.

Daniel Martin, economist at Capital Economics (Asia) notes: “Recent data suggest that GDP stabilised or even picked up slightly in Q3, after a slowdown in Q2. However, we expect subdued global growth and currency strength to prompt the RBNZ into a rate cut over the next few months.”
Read More
https://support.fxcc.com/email/technical/25102012/

UPCOMING EVENTS :
2012-10-25 08:30 GMT | United Kingdom. Gross Domestic Product
2012-10-25 12:30 GMT | United States. Durable Goods Orders
2012-10-25 21:00 GMT | New Zealand. Trade Balance
2012-10-25 23:30 GMT | Japan. National Consumer Price Index

FOREX NEWS :
2012-10-25 05:29 GMT | EUR/USD stops come first, technicals later
2012-10-25 04:41 GMT | GBP/USD in tight range ahead of UK GDP data
2012-10-25 03:28 GMT | AUD/JPY retesting 83.00 range resistance
2012-10-25 01:32 GMT | AUD/USD slowly inching higher; key Fibo nearby

EURUSD : 1.29861 / 1.29864
DAILY WEEKLY MONTHLY

1.3029 | 1.3013 | 1.2997
1.2977 | 1.2961 | 1.2945

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: EURUSD stabilized on the positive side today and attempt to reach yesterday high. If it fails to overcome it we expect further market decline as main scenario for today. Main scenario: Risk of further market weakening is seen below the next support level at 1.2977 (S1). Break here is required to expose next targets at 1.2961 (S2) and 1.2945 (S3). Alternative scenario: In case of market appreciation above the next resistance at 1.2997 (R1), we suggest next target at 1.3013 (R2) and any further rise would then be targeting 1.3029 (R3).

GBPUSD : 1.60472 / 1.60479
DAILY WEEKLY MONTHLY

1.6095 | 1.6081 | 1.6067
1.6048 | 1.6033 | 1.6019

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

MARKET ANALYSIS - Intraday Analysis

Technical Summary: GBPUSD gained momentum on the positive side and currently trades on its high. We expect further price appreciation later on today towards to our resistance levels. Main scenario: Our next resistance level is placed at 1.6067(R1). Clearance here would suggest next targets at 1.6081(R2) and 1.6095 (R3). Alternative scenario: Fall below the support level at 1.6048 (S1) would provide us with a signal of further downtrend formation. We expect next targets at 1.6033 (S2) and 1.6019 (S3) in such scenario.

USDJPY : 80.054 / 80.058
DAILY WEEKLY MONTHLY

80.50 : 80.34 : 80.17
79.95 : 79.79 : 79.63

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Instrument has settled correction on the hourly timeframe and currently trades under the bullish pressure. Further rise is likely scenario for today. Main scenario: We expect attack to the next resistance level at 80.17 (R1). Clearance here is required for the instrument strengthening towards to our next targets at 80.34 (R2) and 80.50 (R3) in potential. Alternative scenario: The downside trend evolvement is limited by next support level 79.95 (S1), break here might lead to the targets execution at 79.79 (S2) and 79.63 (S3).

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

alayoua · November 5, 2012, 3:40am

[B]Market Overview by FXCC Nov 05 2012

Greece to present new austerity package today

FXstreet.com (Barcelona) - The Greece government, still in despair trying to find new ways to cut public spending, will present a new austerity proposal to parliament on Monday. In the proposal, it will be key to win enough acceptance if the country is to comply with the Troika requirements and not put at risk a still ‘doubtful’ next aid tranche worth over EUR 31.5 billion. The country faces a new week with tensions in the street escalating fast, with plans of strikes and protests. A 2-day strike against the next austerity bill is expected on Tuesday, with marches through Athens’ city centre taking place. Greek parliament will be voting on an austerity package mounting 13.5 billion euros, mainly aimed at tax hikes and more flexibility for firms to enroll people on temporary labour contracts and make them redundant.

“These will be the last cuts in wages and pensions,” Samaras said on Sunday, cited by Reuters. “We promised to avert the country’s exit from the euro and this is what we are doing. We have given absolute priority to this because if we do not achieve this everything else will be meaningless” Samaras added. As Richard Lee, FXstreet contributor, notes: “A dead vote on the austerity measure would place significant pressure on the single currency, as a delay of disbursement by the EU’s Troika could technically place Greece in a sovereign default. Greek benchmark 10-year bonds are reflective of the sentiment, with the yield rising a little over 40 basis point to 18.18% in the last two days.”
https://support.fxcc.com/email/technical/05112012/

UPCOMING EVENTS :
2012-11-05 00:00 GMT | All. G20 Meeting
2012-11-05 09:28 GMT | United Kingdom. Markit Services PMI
2012-11-05 09:30 GMT | European Monetary Union. Sentix Investor Confidence
2012-11-05 15:30 GMT | United States ISM Non-Manufacturing PMI

FOREX NEWS :
2012-11-05 05:14 GMT | Short EUR/USD, target around 1.26 - Saxo Bank
2012-11-05 04:50 GMT | GBP/USD holding above 1.60 on low volatility
2012-11-05 03:12 GMT | EUR/AUD gaping below 1.2400
2012-11-05 01:30 GMT | USD/JPY capped below 80.50

EURUSD HIGH 1.28393 LOW 1.28159 BID 1.28305 ASK 1.28310 CHANGE -0.06% TIME 08 : 31

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

MARKET ANALYSIS - Intraday Analysis

Long direction: Market formed fresh low today and currently deviates from its initial downtrend formation. Next resistance level ahead is seen at 1.2844 (R1), break here is required to enable next target at 1.2868 (R2) and any further rise would then be limited to 1.2892 (R3). Short direction: Market sentiment is negative on EURUSD as of Friday sharp fall. If EURUSD gains momentum today and overcome our next support level at 1.2814 (S1), we suggest next targets at 1.2791 (S2) and 1.2767 (S3).

Resistance Levels: 1.2844, 1.2868, 1.2892
Support Levels: 1.2814, 1.2791, 1.2767

GBPUSD HIGH 1.60358 LOW 1.60085 BID 1.60288 ASK 1.60296 CHANGE 0.04% TIME 08 : 32

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

Long direction: If we take a look on the hourly chart we can see that medium-term bias is clearly negative however today instrument intend to provide retracement formation. Break above the next resistance level at 1.6039 (R1) would suggest next targets at 1.6054 (R2) and 1.6070 (R3) in potential. Short direction: Fresh low, formed on Friday is our key point for today. Next support level lie at 1.6007 (S1), below here opens the road towards to next targets at 1.5993 (S2) and 1.5978 (S3).

Resistance Levels: 1.6039, 1.6054, 1.6070
Support Levels: 1.6007, 1.5993, 1.5978

USDJPY HIGH 80.562 LOW 80.337 BID 80.353 ASK 80.357 CHANGE -0.15% TIME 08 : 33

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

Long direction: Technically, medium term tendency on USDJPY is positive and current pull back might be considered as a correction. If USDJPY gains momentum and rose above the resistance at 80.47 (R1) we expect next targets at 80.55 (R2) and 80.63 (R3). Short direction: Both moving averages is acting now as dynamic resistance levels and while price is quoted below them we expect further market decline. Downside direction is limited by next support level at 80.31 (S1), price decrease below it would be targeting next supports at 80.24 (S2) and 80.15 (S3).

Resistance Levels: 80.47, 80.55, 80.63
Support Levels: 80.31, 80.24, 80.15

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

alayoua · November 7, 2012, 3:46am

[B]Daily Forex Market Analysis from FXCC Nov 07 2012

Obama re-elected as US President

Barack Obama’s second four year term in the White House is a reality, with semi-official confirmations given just minutes after 4GMT when most media outlets, including NBC, CBS, SKY,AP, Bloomberg, projected Obama’s victory in Ohio, a key state for Obama in order to guarantee another second four year mandate. Mel Know, Editor at FXstreet.com, reports: “there were people somewhat surprised of the early confirmation of victory, but Obama has been picking off key swing states one by one. With 73% of the vote in, Ohio is projected to go to the president – no republican has ever won the presidency without winning Ohio. The president has also won in Wisconsin and Pennsylvania, leaving Romney required to win all three battleground states of Ohio, Florida and Virginia, where the race is too close to call. But the president has already reached the magical 270 Electoral College mark. Game over.”

The USD was sold-off aggressively as soon as the news of an Obama win came in, with markets pricing in an extended term from the president that has brought the US debt to GDP to uncharted territories by enjoying at the helm of the Fed ultra-dovish Federal Reserve Chairman Ben Bernanke and his quest for QE to infinity.According to John J Hardy, Head of FX Strategy at Saxo Bank, the Obama victory, “is more risk positive, USD negative as immediate reaction, but any further reaction in this direction could quickly fade as uncertainty over fiscal cliff settles, which would be USD positive and risk negative.” - FXstreet.com
FXCC Market Update 07-11-2012

UPCOMING EVENTS :
2012-11-07 08:15 GMT Switzerland. Consumer Price Index
2012-11-07 10:00 GMT European Monetary Union. Retail Sales
2012-11-07 15:30 GMT United States. EIA Crude Oil Stocks change
2012-11-07 21:45 GMT New Zealand. Unemployment Rate

FOREX NEWS :
2012-11-07 05:34 GMT GBP/USD advances on projected Obama victory
2012-11-07 04:46 GMT AUD/USD prints fresh 5-week highs above 1.0450
2012-11-07 04:32 GMT EUR/USD attacking 1.2880; Obama edges closer to victory
2012-11-07 03:37 GMT USD/JPY slides as election results flow in

EURUSD
HIGH 1.28748 LOW 1.27833 BID 1.28626 ASK 1.28632 CHANGE 0.39% TIME 07: 56 : 59

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

MARKET ANALYSIS - Intraday Analysis

Long direction: EURUSD gained momentum on the positive side after the Obama become re-elected US President. Break out of our resistance level at 1.2875 (R1) is required to enable route towards to next suggested targets at 1.2896 (R2) and 1.2917 (R3).Short direction: Possibility of pull back is seen below the support at 1.2842 (S1). Loss here might take the pair towards to eventual targets, located at 1.2821 (S2) and 1.2799 (S3) in potential.

Resistance Levels: 1.2875, 1.2896, 1.2917
Support Levels: 1.2842, 1.2821, 1.2799

GBPUSD
HIGH 1.60363 LOW 1.59682 BID 1.60338 ASK 1.60345 CHANGE 0.23% TIME 07: 57: 00

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

Long direction: Intraday market sentiment is clearly Bullish. Protective measures for the upside development is seen at 1.6040 (R1). Break here would suggest next intraday targets at 1.6054 (R2) and 1.6067 (R3). Short direction: Our targets at 1.6005 (S2) and 1.5991 (S3) might be exposed if the downside extension below the support level at 1.6020(S1) occur later on today.

Resistance Levels: 1.6040, 1.6054, 1.6067
Support Levels: 1.6020, 1.6005, 1.5991

USDJPY
HIGH 80.413 LOW 79.811 BID 80.112 ASK 80.116 CHANGE -0.3% TIME 07: 57: 02

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

Long direction: Possibility to change market sentiment to positive is seen above the 20 SMA, we placed our next resistance level at 80.21 (R1). Break here is required to turn in focus higher target at 80.31 (R2) and any further increase would then be targeting to 80.40 (R3). Short direction: Technically, further market decline is more likely scenario for today while both moving averages are pointing down. Decrease below the next support level at 79.96 (S1) might enable bearish forces, targeting 79.87 (S2) and 79.78 (S3) in potential.

Resistance Levels: 80.21, 80.31, 80.40
Support Levels: 79.96, 79.87, 79.78

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

alayoua · November 8, 2012, 3:21am

[B]Daily Forex Market Analysis from FXCC Nov 08 2012

Small chance of a ECB rate cut in November; BoE might introduce additional QE

Market experts’ views on the ECB and the BoE November monetary policy meetings are rather mixed, as recent economic data and the developments in the European debt crisis as well as the implications of the central banks’ latest decisions leaves them with options for action this month. Almost all of the analysts contributing to the special forecast report agree that there is a very slight possibility of the ECB carrying out an interest rate cut at the upcoming meeting because, as Ilian Yotov writes, “with the OMT bond buying program plan already in place” the central bank can afford to wait for another month." Only Yohay Elam believes that “there is a good chance that the ECB will cut the rates by 0.25%” in November, in the light of “a small slide in inflation, the worsening economic situation, and fear of another credit crunch.”

As far as the BoE monetary policy meeting is concerned, the experts’ projections range from “it should be interesting” to “as usual, a non event.” The majority believes that there is a possibility of an extension of the asset purchase program by an additional 50 billion pounds. The upcoming BoE and ECB monetary policy decisions will be announced today at 12:00 and 12:45 GMT, respectively - FXstreet.com

UPCOMING EVENTS :
2012-11-08 **:00 GMT : United Kingdom. BoE Monetary Policy Statement
2012-11-08 12:00 GMT : United Kingdom. BoE Asset Purchase Facility
2012-11-08 13:30 GMT : European Monetary Union. ECB Monetary policy statement and press conference
2012-11-08 13:30 GMT : United States. Trade Balance

FOREX NEWS :
2012-11-08 05:59 GMT : GBP/USD unchanged ahead of BoE meeting
2012-11-08 05:13 GMT : EUR/JPY still under bear pressure; risk weighs
2012-11-08 03:15 GMT : GBP/JPY breaks and holds below 128
2012-11-08 03:02 GMT : Top-heavy NZD/JPY rests around 65.30

EURUSD
HIGH 1.27802 LOW 1.27428 BID 1.27625 ASK 1.27631 CHANGE -0.07% TIME 08 : 18 : 29

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

MARKET ANALYSIS - Intraday Analysis

Long direction: Today in focus ECB Monetary policy statement and press conference at 13:30 GMT. If the market manage to climb above the resistance level at 1.2783 (R1) we expect next target to be achieved at 1.2803 (R2) and any further rise would then be targeting to 1.2824 (R3). Short direction: The low, formed yesterday is our reference point for further downtrend formation. Decline below the support level at 1.2736 (S1) might open road towards to lower targets, located at 1.2717 (S2) and 1.2698 (S3).

Resistance Levels: 1.2783, 1.2803, 1.2824
Support Levels: 1.2736, 1.2717, 1.2698

GBPUSD
HIGH 1.59921 LOW 1.59697 BID 1.59819 ASK 1.59826 CHANGE -0.02% TIME 08 : 18 : 30

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

Long direction: Important macroeconomic data release might push the market in any direction today as it is not stable. Next announcement in focus 12:00 GMT- BoE Asset Purchase Facility. If the pair manages to penetrate above the resistance level at 1.5994 (R1), we suggest next targets at 1.6009 (R2) and 1.6024 (R3). Short direction: We placed our next support level at 1.5963 (S1). Loss here might enable further bearish pressure and downgrade Cable towards to expected targets at 1.5949 (S2) and 1.5935 (S3).

Resistance Levels: 1.5994, 1.6009, 1.6024
Support Levels: 1.5963, 1.5949, 1.5935

USDJPY
HIGH 80.003 LOW 79.775 BID 79.905 ASK 79.908 CHANGE -0.11% TIME 08 : 18 : 31

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

Long direction: USDJPY trades in gradual descending channel on the hourly chart. Climb above the next resistance level at 80.03 (R1) might provide market with sufficient power to attack next target at 80.11(R2) and any further rise would then be limited to 80.20 (R3). Short direction: Today instrument tested negative side and formed fresh low, which is our next support level at 79.77 (S1). Break here is required to enable next targets at 79.68 (S2) and 79.60 (S3).

Resistance Levels: 80.03, 80.11, 80.20
Support Levels: 79.77, 79.68, 79.60

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

alayoua · November 9, 2012, 4:37am

[B]Daily Forex Market Analysis from FXCC Nov 09 2012

ECB’s Draghi: Growth momentum to remain weak in 2013

As expected, the ECB Governing Council decided to keep the main interest rate unchanged at a record low of 0.75% at their November monetary policy meeting. Speaking at the press conference following the meeting ECB head Mario Draghi commented on the considerations underlying the decision. The president suggested that inflation should stay above 2% throughout the rest of 2012 and fall below 2% in the course of of 2013, adding that “over the policy-relevant horizon, in an environment of modest growth in the euro area and well-anchored long-term inflation expectations, underlying price pressures should remain moderate.”

Mario Draghi said that growth momentum in the Eurozone would remain weak in 2013. He assured however that ECB’s monetary policy was directed at stimulating growth in the area and that its readiness to activate the OMT program was boosting market confidence. He urged EU governments to continue reducing fiscal imbalances and applying structural reforms to strengthen growth potential in the area. He said that positive effects of the fiscal consolidation efforts so far could already be seen and that a quick implementation of the fiscal compact would further reassure markets - FXstreet.com
FXCC Market Update 09-11-2012

UPCOMING EVENTS :
2012-11-09 07:00 GMT : Germany. Harmonised Index of Consumer Prices
2012-11-09 09:30 GMT : United Kingdom. Total Trade Balance
2012-11-09 14:55 GMT : United States. Reuters/Michigan Consumer Sentiment Index
2012-11-09 15:00 GMT : United States. Wholesale Inventories

FOREX NEWS :
2012-11-09 05:52 GMT : EUR/USD needs break of key fibo to resume bear’s party
2012-11-09 05:27 GMT : GBP/USD finding buyers above 1.6000
2012-11-09 04:56 GMT : EUR/NZD stalling around 38.2% Fibo retrace at 1.5650
2012-11-09 03:50 GMT : AUD/CAD near 3-month highs above 1.04

EURUSD :
HIGH 1.279 LOW 1.27334 BID 1.27758 ASK 1.27762 CHANGE 0.23% TIME 08 : 01

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

MARKET ANALYSIS - Intraday Analysis

Long direction: We are not expecting significant moves today however current market installation might extend its power towards to our resistance levels later on today. Our next resistance level holds at 1.2803 (R1). A break here might expose next targets 1.2828 (R2) and 1.2852 (R3). Short direction: If it fails to establish intraday positive bias we expect retest of our next support level at 1.2761 (S1). Price penetration below it might open way towards to next targets at 1.2735 (S2) and 1.2708 (S3).

Resistance Levels: 1.2803, 1.2828, 1.2852
Support Levels: 1.2761, 1.2735, 1.2708

GBPUSD :
HIGH 1.60192 LOW 1.59692 BID 1.60073 ASK 1.60079 CHANGE 0.16% TIME 08 : 02

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

Long direction: Technically, instrument moves without priority in direction on the hourly chart. In such situation we suggest waiting for a clear signal of market sentiment change. Possible strengthening might arise above the next resistance level at 1.6020 (R1). Next targets holds at 1.6035 (R2) and 1.6048 (R3) levels. Short direction: A break of next support level at 1.5983 (S1) might extend easing towards to expected targets at 1.5969 (S2) and 1.5955 (S3) levels.

Resistance Levels: 1.6020, 1.6034, 1.6048
Support Levels: 1.5983, 1.5969, 1.5955

USDJPY :
HIGH 79.61 LOW 79.424 BID 79.560 ASK 79.563 CHANGE 0.11% TIME 08 : 03

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

Long direction: Instrument stabilized after the fresh low provided yesterday. If it manages to stay above it we expect retracement development towards to resistance level at 79.62 (R1). Clearance here would suggest next targets at 79.71 (R2) and 79.82 (R3). Short direction: Decrease below the support level at 79.45 (S1) might open route towards to next targets at 79.35 (S2) and 79.25 (S3) and extends its bearish pressure on the medium term perspective.

Resistance Levels: 79.62, 79.71, 79.82
Support Levels: 79.45, 79.35, 79.25

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

alayoua · November 12, 2012, 2:57am

[B]Daily Forex Analysis from FXCC Nov 12 2012

Greece passes 2013 budget bill

After holding a vote on its 2013 national budget, the Greek government has passed the bill, one that includes additional cuts touching the most controversial areas of pensions, salaries and benefits. The reaction by the markets has been very subdued, with Euro ticking marginally higher. At present, worries are far greater on the prospects of Greece facing a default scenario this week, something that renowned papers like the Financial Times highlight on its front-cover. Greece should find a way to raise as much as €5bn in order to avoid default in a coupon of debt maturity, with the Troika and European paymasters, including Germany, still stuck in an impasse as to how to ease the country’s debt burden, and with authorities still in disagreement over providing Greece the next aid tranche worth over €31.5 billion.

For the short term, the Financial Times reports in a weekend article that “the country’s debt management office has announced plans to cover the full amount through a treasury bill auction on Tuesday, but Greek banks expected to buy the issue can only raise about €3.5bn of collateral acceptable to the ECB, according to two senior Athens bankers” the paper reports. It is thought that in case of a shortfall in the capital raised, Greece will have to tap funds from a reserve for bank recapitalisation held by the Hellenic Financial Stability Fund, worth over €3 billion, as option of last resort-FXstreet.com
FXCC Market Update 12-11-2012

UPCOMING EVENTS :
2012-11-12 : GMT : European Monetary Union. Eurogrup meeting
2012-11-12 06:00 GMT : Japan. Machine Tool Orders
2012-11-12 21:45 GMT : New Zealand. Food Price Index

FOREX NEWS :
2012-11-12 05:15 GMT : GBP/USD stands at 1.59, above 200 DMA
2012-11-12 05:15 GMT : EUR/GBP waiting for Eurogroup Meeting, flat at 0.8 round
2012-11-12 04:12 GMT : USD/JPY may test 79.70-80.00 - BBH

EURUSD :
HIGH 1.27365 LOW 1.27095 BID 1.27289 ASK 1.27294 CHANGE 0.15% TIME 08 : 19 : 31

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

MARKET ANALYSIS - Intraday Analysis

Long direction: Fresh cross of moving averages might be a signal of possible correction ahead. Next resistance level is in focus at 1.2740 (R1). Rise above it would then be targeting to 1.2769 (R2) and 1.2797 (R3) in perspective. Short direction: Though, EURUSD might spend most of the day in a narrow range amid limited tier-one data flow. Our downside targets at 1.2679 (S2) and 1.2648 (S3) might expose if the downside extension below the support level at 1.2708 (S1) occur later on today

Resistance Levels: 1.2740, 1.2769, 1.2797
Support Levels: 1.2708, 1.2679, 1.2648

GBPUSD :
HIGH 1.59124 LOW 1.5891 BID 1.59099 ASK 1.59102 CHANGE 0.11% TIME 08 :19 : 32

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

Long direction: The low from 08-11-2012 at 1.5928 (S1) is acting now as key resistance level for upside formation. If the price manages to break it, we expect retracement development with next targets in focus 1.5955 (R2) and 1.5982 (R3). Short direction: Risks of further depreciation is seen below the support at 1.5886 (S1). Break through here might take the pair towards to eventual targets located at 1.5861 (S2) and 1.5836 (S3) in potential.

Resistance Levels: 1.5928, 1.5955, 1.5982
Support Levels: 1.5886, 1.5861, 1.5836

USDJPY :
HIGH 79.563 LOW 79.401 BID 79.480 ASK 79.483 CHANGE 0.02% TIME 08 :19 : 33

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

Long direction: Instrument trades in narrow range on the short term perspective. Clearance of next resistance level 79.57 (R1) might determine positive bias for the day and suggest next targets at 79.68 (R2) and 79.79 (R3). Short direction: On the longer term, tendency on USDJPY remains negative and current stabilization might be considered as a part of correction. If the market manage to break next support level at 79.35 (S1), we expect exposure of targets at 79.25 (S2) and 79.15 (S3) in potential.

Resistance Levels: 79.57, 79.68, 79.79
Support Levels: 79.35, 79.25, 79.15

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

alayoua · November 14, 2012, 5:39am

[B]Daily Forex Analysis from FXCC Nov 14 2012

Bild story on bundled aid payment for Greece boosts sentiment.

German newspaper Bild Zeitung published an article in which it claims that the Berlin is preparing a 44 billion euro aid payment for Greece, combined from three pending bailout tranches. When asked about the report, German Finance Minister’s spokeswoman said that no decision has been taken on the Greek bailout. “Color me skeptical”, writes Mark Chandler, Global Head of Currency Strategy for BBH. “To give Greece such a large sum at once is counter to the underlying strategy of doling out the aid in tranches to provide assurances of compliance. This is tantamount to unilateral disarmament by the creditors. Second, three euro area members require parliamentary approval, Germany, Finland and the Netherlands. It it unlikely to receive support.” The Bild report boosted sentiment and the Euro rebounded off a two-month low against the greenback.

The Greek Public Debt Management Agency held a bond auction on Tuesday in order to roll over 5 billion euros of debt maturing on November 16. It sold 4.062 billion euros worth of 1-month and 3-month T-bills and the total amount should reach 5 billion if all non-competitive bids are included. 1-month T-bills were sold at an average yield of 3.95%, while 3-month T-bills yielded 4.2%, compared to 4.24% seen in October. The auction was given the green light by the ECB which had to raise the ceiling on the amount of T-bills so that Athens would be able to continue refinancing short-term debt -FXstreet.com
https://support.fxcc.com/email/technical/14112012/

UPCOMING EVENTS :
2012-11-14 09:30 GMT : United Kingdom. ILO Unemployment Rate
2012-11-14 10:30 GMT : United Kingdom. BoE’s Governor King Speech
2012-11-14 13:30 GMT : United States. Retail Sales
2012-11-14 19:00 GMT : United States. FOMC Minutes

FOREX NEWS :
2012-11-14 04:03 GMT : Outlook bullish on EUR/USD – Goldman Sachs
2012-11-14 03:19 GMT : AUD/NZD limited below 1.2800, 61.8% Fibo
2012-11-14 02:31 GMT : GBP/JPY back above 126.00; Regional bourses support
2012-11-14 01:08 GMT : AUD/JPY capped below 1H 200 SMA

EURUSD :
HIGH 1.27287 LOW 1.27001 BID 1.27216 ASK 1.27219 CHANGE 0.14% TIME 08 : 03 : 01

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Pair has settled negative bias on the hourly timeframe but recently moved in sideways mode. Above the fresh high at 1.2730 (R1) is possible retracement development. Violation here might expose next targets at 1.2746 (R2) and 1.2763 (R3). Downwards scenario: Loss of next support at 1.2703 (S1) might drive market price towards to the next targets at 1.2684 (S2) and 1.2666 (S3).

Resistance Levels: 1.2730, 1.2746, 1.2763
Support Levels: 1.2703, 1.2684, 1.2666

GBPUSD :
HIGH 1.58923 LOW 1.58663 BID 1.58917 ASK 1.58920 CHANGE 0.13% TIME 08 : 03 : 02

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

Upwards scenario: GBPUSD trades in positive tone on the short term perspective. Successful penetration above the resistance at 1.5900 (R1) might provide sufficient space for the price increase towards to our targets at 1.5915 (R2) and 1.5931 (R3). Downwards scenario: Medium term bias remains negative on the hourly chart. If the pair extend its bearish pressure below the next support level at 1.5866 (S1), we suggest next targets at 1.5849 (S2) and 1.5830 (S3).

Resistance Levels: 1.5900, 1.5915, 1.5931
Support Levels: 1.5866, 1.5849, 1.5830

USDJPY :
HIGH 79.573 LOW 79.385 BID 79.565 ASK 79.566 CHANGE 0.23% TIME 08 : 03 : 02

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

Upwards scenario: USDJPY gained momentum on the positive side today and determined positive bias for the remaining day. We expect some consolidation ahead, though If the market manages to climb above the resistance level at 79.83 (R1) we suggest next targets at 79.92 (R2) and 80.02 (R3) in potential.Downwards scenario: Yesterday high is acting now as key support level at 79.64 (S1), clearance here is required to attack lower targets at 79.53 (S2) and 79.43 (S3).

Resistance Levels: 79.83, 79.92, 80.02
Support Levels: 79.64, 79.53, 79.43

Source: FX Central Clearing Ltd,( forex trading news | forex trading secrets | forex trading tools | FXCC )[/B]

alayoua · November 15, 2012, 5:58am

[B]Daily Forex Analysis from FXCC Nov 15 2012

EU’s Rehn: Spain has taken effective action on budget deficits in 2012 and 2013

EU Economic and Monetary Affairs Commissioner Olli Rehn made a statement on Spain on Wednesday, regarding the country’s deficit moves. According to the European Commission’s assessment the Spanish government has taken effective action for 2012, 2013 as far as restoring sustainability of public finances is concerned. Nevertheless, it would fail to meet the deficit target for 2014.

Mr Rehn declared that Spain currently does not need additional measures and that the progress of its budget consolidation will be evaluated once again by the EU in February, by which time it might be necessary to introduce further measures. He added that he does not see the need for Rajoy’s government making a bailout request in the nearest future. The EU Economic and Monetary Affairs Commissioner also acknowledged that Spain is currently undergoing difficult rebalancing of the economy and that its government and people are making great efforts to assure sustainability of the country’s finances.
https://support.fxcc.com/email/technical/15112012/

UPCOMING EVENTS :
2012-11-15 09:00 GMT : Italy. Gross Domestic Product(Preliminar)
2012-11-15 09:30 GMT : United Kingdom. Retail Sales
2012-11-15 10:00 GMT : E.M.U. Gross Domestic Product (Preliminar)
2012-11-15 13:30 GMT : United States. Consumer Price Index Ex Food & Energy

FOREX NEWS :
2012-11-15 04:15 GMT : AUD/USD stalls the dive helped by 1.0350 bids
2012-11-15 04:03 GMT : Short AUD/CAD; target the 1.01 area - Westpac
2012-11-15 03:36 GMT : GBP/AUD offered below 50% Fibo
2012-11-15 00:51 GMT : EUR/USD: Hourly pin forms off 200 EMA; bears encouraged

EURUSD :
HIGH 1.2753 LOW 1.27174 BID 1.27473 ASK 1.27476 CHANGE 0.09% TIME 08:03:46

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Current market installation might suggest us about the uptrend formation on the hourly timeframe. Break of 1.2758 (R1) is required for attack to the next target at 1.2772 (R2). Final resistance could be found at 1.2787 (R3) today. Downwards scenario: Risk of further market depreciation is seen below the next support level at 1.2730 (S1). Loss here would suggest intraday targets at 1.2715 (S2) and 1.2700 (S3).

Resistance Levels: 1.2758, 1.2772, 1.2787
Support Levels: 1.2730, 1.2715, 1.2700

GBPUSD :
HIGH 1.58552 LOW 1.58361 BID 1.58519 ASK 1.58523 CHANGE 0.07% TIME 08:03:47

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

Upwards scenario: Our next resistance level locates at 1.5859 (R1). If market gains momentum and manage to overcome it, we expect further deviation from the initial downtrend towards to next targets at 1.5877 (R2) and 1.5894 (R3). Downwards scenario: Risk of market weakening is seen below the fresh low at 1.5834 (S1). Loss here would enable bearish forces and might expose our targets at 1.5815 (S2) and 1.5796 (S3).

Resistance Levels: 1.5859, 1.5877, 1.5894
Support Levels: 1.5834, 1.5815, 1.5796

USDJPY :
HIGH 80.943 LOW 80.125 BID 80.931 ASK 80.933 CHANGE 0.85% TIME 08:03:48

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

Upwards scenario: USDJPY appreciated by 0.85% today and determined clear bullish market sentiment. Our key resistance level locates at fresh high – 80.96 (R1), clearance here would suggest higher targets at 81.10 (R2) and 81.25 (R3) intraday. Downwards scenario: Risk of correction is seen below the next support level at 80.61 (S1), break here is required to enable lower targets at 80.47 (S2) and 80.32 (S3).

Resistance Levels: 80.96, 81.10, 81.25
Support Levels: 80.61, 80.47, 80.32

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

alayoua · November 16, 2012, 3:31am

[B]Daily Forex Analysis from FXCC Nov 16 2012

Eurozone officially in recession

Third quarter GDP data for the Eurozone published yesterday revealed that the area has once again slipped into recession. According to Eurostat Q3 GDP was down by 0.1%, which is the second consecutive quarterly decline. Only the German and French economies expanded, both by 0.2%. Martin van Vliet from ING comments: “GDP figures clearly demonstrate that the Eurozone economy as a whole is in desperate need of macroeconomic stimulus. With policymakers seemingly reluctant to engineer a coordinated pull-back from fiscal austerity, more monetary stimulus and a weaker currency is likely to be needed to put Eurozone back on a path of sustained growth.”

ECB Governing Council member Luc Coene declared in the European morning that Spain should urgently seek EU aid. European Commissioner for Economic and Monetary Affairs Olli Rehn, who spoke later in the day, assured that the solution to the Greek problem requires a combination of measures, providing the principal amount of its debt does not change.-FXstreet.com
https://support.fxcc.com/email/technical/16112012/

UPCOMING EVENTS :
2012-11-16 10:00 GMT : E. M. U. Trade Balance
2012-11-16 14:00 GMT : United States. Net Long-Term TIC Flows
2012-11-16 14:15 GMT : United States. Industrial Production
2012-11-16 20:45 GMT : United States. Fed’s Lockhart speech

UPCOMING EVENTS :
2012-11-16 04:31 GMT : GBP/AUD flat around 1.5350; with bullish scope?
2012-11-16 04:28 GMT : AUD/CAD looking more bearish if below 1.0290
2012-11-16 04:06 GMT : USD/JPY consolidation likely next week - Nomura
2012-11-16 01:31 GMT : EUR/USD bears cap rebound at 1.28

EURUSD :
HIGH 1.27845 LOW 1.27645 BID 1.27681 ASK 1.27688 CHANGE -0.09% TIME 08:03:35

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.2786 (R1). Immediate focus comes on 1.2800 (R1) and 1.2814 (r3) in such scenario. Downwards scenario: Price decline below the next support levels at 1.2759 (S1) might trigger bearish pressure and enable next target at 1.2745 (S2). Further correction development might face final support level at 1.2732 (S3).

Resistance Levels: 1.2786, 1.2800, 1.2814
Support Levels: 1.2759, 1.2745, 1.2732

GBPUSD :
HIGH 1.58665 LOW 1.58569 BID 1.58597 ASK 1.58604 CHANGE -0.03% TIME 08:03:36

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

Upwards scenario: A medium-term bias is negative now though intraday bullish forces might be activated if the pair penetrates above the resistance level at 1.5868 (R1). Next immediate resistance levels holds at 1.5884 (R2) and 1.5899 (R3). Downwards scenario: Downside direction is limited by next support level at 1.5841 (S1), price decrease below it would be targeting next supports at 1.5826 (S2) and 1.5810 (S3).

Resistance Levels: 1.5868, 1.5884, 1.5899
Support Levels: 1.5841, 1.5826, 1.5810

USDJPY :
HIGH 81.268 LOW 80.973 BID 81.010 ASK 81.013 CHANGE -0.19% TIME 08:03:38

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

Upwards scenario: While instrument trades below the resistance level at 81.28 (R1), market would try to form correction. Break above it is required to attack the upside target at 81.50 (R2) and 81.70 (R3) in potential. Downwards scenario: If price would manage to overcome our support at 80.92 (S1) we suggest next targets at 80.70 (S2) and 80.46 (S3).

Resistance Levels: 81.28, 81.50, 81.70
Support Levels: 80.92, 80.70, 80.46

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

alayoua · November 19, 2012, 2:55am

[B]Daily Forex Analysis from FXCC Nov 19 2012

ECB’s Asmussen calls for a 2-year funding extension on Greece

FXstreet.com (Barcelona) - Joerg Asmussen, member of the European Central Bank, told German broadcaster ZDF over the weekend, EU leaders should agree on a 2-year loan extension for Greece, with any additional funding plan to be decided at a later stage, confirming the broadly-held view within the EU of ‘kicking the can down the road’, a position not marrying too well with IMF Director Christine Lagarde, who has been repeatedly calling for a long-standing comprehensible plan.

For today, EUR related economic agenda for the London session ahead looks soft, with only Italian industrial production at 09:00 GMT. However, several conferences in the EU will take place in parallel, ahead of tomorrow’s key Eurogroup meetings. The special attention will be headlines from EU Commissioner Barnier and Spain EcoMin De Guindos, speaking at the EU conference on financial stability and the single market at 08:30 GMT. Also Deutsche Bundesbank President Jens Weidmann speech in Frankfurt at the same time will attract market’s attention. In the EZ sovereign debt auctions front, France will deliver Treasury bills at 12:45 GMT, with 10 year bond yields stable around the 2% figure, last at 2.08%.
https://support.fxcc.com/email/technical/19112012/

UPCOMING EVENTS :
2012-11-19 **:00 GMT Japan. BoJ Monetary Policy Meeting Minutes
2012-11-19 10:00 GMT European Monetary Union. Construction Output
2012-11-19 15:00 GMT United States. Existing Home Sales Change
2012-11-19 23:00 GMT Australia. Conference Board Australia Leading Index

UPCOMING EVENTS :
2012-11-19 06:08 GMT EUR/USD advance above 1.28 should command respect
2012-11-19 06:02 GMT GBP/USD rises above 1.59 on positive tone
2012-11-19 04:43 GMT AUD/EUR seen at +0.84 in early 2013 - Westpac
2012-11-19 04:07 GMT EUR/AUD looking for bids around 1.23 mark

EURUSD :
HIGH 1.27734 LOW 1.27401 BID 1.27582 ASK 1.27588 CHANGE 0.13% TIME 07 : 59: 51

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Instrument show up 0.13% rise today and any further appreciation needs to clear barrier at 1.2774 (R1). Intraday targets could be found at 1.2786 (R2) and then at 1.2798 (R3). Downwards scenario: Below the 10 SMA locates our next support level at 1.2751 (S1). Break here might open a route towards to next targets at 1.2739 (S2) and 1.2727 (S3) in perspective.

Resistance Levels: 1.2774, 1.2786, 1.2798
Support Levels: 1.2751, 1.2739, 1.2727

GBPUSD :
HIGH 1.59233 LOW 1.58806 BID 1.59109 ASK 1.59116 CHANGE 0.17% TIME 07 : 59 : 52

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

Upwards scenario: market sentiment is clearly bullish today. Fresh high formed today acts now as next resistance level at 1.5924 (R1). Above here open way towards to next targets at 1.5936 (R2) and then at 1.5947 (R3). Downwards scenario: Risk of depreciation is seen below the local high, formed on the 14-11-2012 at 1.5902 (S1). Break here is required to enable lower targets at 1.5890 (S2) and 1.5877 (S3).

Resistance Levels: 1.5924, 1.5936, 1.5947
Support Levels: 1.5902, 1.5890, 1.5877

USDJPY :
HIGH 81.587 LOW 81.125 BID 81.243 ASK 81.247 CHANGE -0.09% TIME 07 : 59 : 53

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

Upwards scenario: Medium term bias is positive for USDJPY. Risk of market appreciation is seen above the next resistance level at 81.41 (R1). Loss here would suggest next target at 81.62 (R2) and any further rise would then be targeting 81.82 (R3). Downwards scenario: If the pair gains momentum on the downside and manage to break our next support level at 81.10 (S1), it is likely to get acceleration towards to our next support level at 80.90 (S2) and 80.68 (S3), exactly where the 38.2% Fibonacci retracement level lies.

Resistance Levels: 81.41, 81.62, 81.82
Support Levels: 81.10, 80.90, 80.68

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