Daily Forex Market by FXCC

alayoua · November 20, 2012, 5:06am

[B]Daily Forex Analysis from FXCC Nov 20 2012

Moody’s downgrades France to Aa1 from Aaa

FXstreet.com (Barcelona) - Moody’s has downgraded France’s government bond rating to Aa1 from Aaa, maintains negative outlook. Moody’s decision to downgrade France and maintain the negative outlook reflects the following:

From Moody’s: 1.) France’s long-term economic growth outlook is negatively affected by multiple structural challenges, including its gradual, sustained loss of competitiveness and the long-standing rigidities of its labour, goods and service markets. 2.) France’s fiscal outlook is uncertain as a result of its deteriorating economic prospects, both in the short term due to subdued domestic and external demand, and in the longer term due to the structural rigidities noted above. 3.) The predictability of France’s resilience to future euro area shocks is diminishing in view of the rising risks to economic growth, fiscal performance and cost of funding. France’s exposure to peripheral Europe through its trade linkages and its banking system is disproportionately large, and its contingent obligations to support other euro area members have been increasing. Moreover, unlike other non-euro area sovereigns that carry similarly high ratings, France does not have access to a national central bank for the financing of its debt in the event of a market disruption.
https://support.fxcc.com/email/technical/20112012/

UPCOMING EVENTS :
2011-08-10 **:00 GMT : European Monetary Union. EcoFin Meeting
2011-08-10 07:00 GMT : Germany. Producer Price Index
2012-11-20 13:30 GMT : United States. Housing Starts
2012-11-20 17:15 GMT : United States. Fed’s Bernanke Speech

UPCOMING EVENTS :
2012-11-20 06:07 GMT : GBP/USD bulls have room to run; resistance at 1.6065 - V.Bednarik
2012-11-20 05:52 GMT : EUR/USD holds 1.28; Greece aid hopes outweigh France downgrade
2012-11-20 05:27 GMT : AUD/USD long term bearish – Forex.com
2012-11-20 05:02 GMT : NZD/USD limited below key Fibo around 0.82

EURUSD :
HIGH 1.28142 LOW 1.27649 BID 1.27885 ASK 1.27891 CHANGE -0.19% TIME 08 : 11 : 04

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: On the bigger picture trend still is pointing up. Targets at 1.2824 (R2) and 1.2837 (R3) might be attractive for the uptrend penetration if the price manage to break our next resistance level at 1.2811 (R1). Downwards scenario: Clearance of next support level at 1.2785 (S1) might lead to the retracement formation with next expected targets at 1.2772 (S2) and 1.2760 (S3) in potential.

Resistance Levels: 1.2811, 1.2824, 1.2837
Support Levels: 1.2785, 1.2772, 1.2760

GBPUSD :
HIGH 1.59195 LOW 1.58914 BID 1.59130 ASK 1.59135 CHANGE 0.03% TIME 08 : 11 : 05

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

Upwards scenario: Market moves in consolidation mode after the uptrend formation and we expect retest of previous day high later on today. Clearance of next resistance level at 1.5924 (R1) would suggest next targets at 1.5936 (R2) and 1.5947 (R3). Downwards scenario: While next support is placed at 1.5907 (S1), decline below it would put in focus next target at 1.5894 (S2) and any further depreciation would then be limited to 1.5882 (S3) intraday.

Resistance Levels: 1.5924, 1.5936, 1.5947
Support Levels: 1.5907, 1.5894, 1.5882

USDJPY
HIGH 81.432 LOW 81.142 BID 81.309 ASK 81.313 CHANGE -0.12% TIME 08 : 11 : 06

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

Upwards scenario: Instrument stabilized and trades in a narrow channel without priority in direction. Fresh peak is acting now as resistance level at 81.43 (R1), penetration above it would suggest next targets at 81.59 (R2) and 81.76 (R3) on the upside. Downwards scenario: We suggest waiting for a clear break out of important levels prior taking any positions. If USDJPY manage to break our support level at 81.12 (S1), we expect next targets at 80.94 (S2) and 80.75 (S3) in potential.

Resistance Levels: 81.43, 81.59, 81.76
Support Levels: 81.12, 80.94, 80.75

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

alayoua · November 21, 2012, 3:51am

[B]Daily Forex Analysis from FXCC Nov 21 2012

EU Finance Ministers fail to agree on Greece; Talks to resume on Monday

The European finance ministers failed to reach any conclusive decision on Greece after a 10+ hours meeting in Brussels, which came to a conclusion well into the night at around 4am. Details will not be released and the press conference was canceled. Luke Baker, Reuters bureau chief in Brussels, notes: “After more than 10 hours of meeting, German Finance Minister Schaeuble said euro zone finance ministers couldn’t reach an agreement on Greece. Euro Finance Chiefs will continue talks on Monday…”

Earlier on the Asian session, Reuters was out reporting on a Eurogroup document laying out details on Greek debt, which is seen at debt to GDP of 144% in 2020, 133% in 2022, 111% in 2030, noted Mr. Baker. Current Greek debt level stands at 170% of GDP. Bloomberg reported that target of reaching debt sustainability may be postponed to 2022. One of the measures under discussion is suspending for 10 years interest payments on loans provided to Greece by the European Financial Stability Facility (EFSF), Reuters reported citing an unnamed official. It is thought that even combined elements "would still fail to reduce the overall debt-to-GDP ratio to 120% by 2020, the level the IMF has deemed as ‘sustainable’ " Bloomberg notes. Speculation is that IMF may remove itself from any Greek bailout programs if the 120% threshold can not be reached.-Fxstreet.com
https://support.fxcc.com/email/technical/21112012/

UPCOMING EVENTS :
2012-11-21 09:30 GMT | United Kingdom. Bank of England Minutes
2012-11-21 13:30 GMT | United States. Initial Jobless Claims
2012-11-21 14:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index
2012-11-21 15:00 GMT | United States. Leading Indicator

FOREX NEWS :
2012-11-21 05:46 GMT | GBP/USD peels back to 1.59 ahead of BoE Minutes
2012-11-21 05:32 GMT | EUR/GBP; 1-month already dealing around the 0.80 figure
2012-11-21 05:08 GMT | EUR/AUD turns lower toward 1.2300
2012-11-21 04:18 GMT | AUD/USD sinks on Eurogroup dissapointment

EURUSD :
HIGH 1.2822 LOW 1.27364 BID 1.27527 ASK 1.27533 CHANGE -0.5% TIME 08 : 01 : 43

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD formed retracement formation today, turning intraday bias to the negative side. Our next resistance level for today is hold at 1.2774 (R1). Rise above it might open route towards to next targets at 1.2788 (R2) and 1.2803 (R3). Downwards scenario: A break below the fresh low at 1.2736 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.2720 (S2) and 1.2705 (S3).

Resistance Levels: 1.2774, 1.2788, 1.2803
Support Levels: 1.2736, 1.2720, 1.2705

GBPUSD :
HIGH 1.59285 LOW 1.58998 BID 1.59046 ASK 1.59051 CHANGE -0.12% TIME 08 : 01 : 44

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

Upwards scenario: A move above the resistance level at 1.5912 (R1) might drive market price towards to next target at 1.5921 (R2) and any further rise would then be limited to resistance at 1.5930 (R3). Downwards scenario: Hourly chart correction remains in power today. Next barrier locates at 1.5894 (S1). Loss here might enable further bearish pressure and downgrade Cable towards to expected targets at 1.5886 (S2) and 1.5877 (S3).

Resistance Levels: 1.5912, 1.5921, 1.5930
Support Levels: 1.5894, 1.5886, 1.5877

USDJPY :
HIGH 81.974 LOW 81.654 BID 81.913 ASK 81.917 CHANGE 0.29% TIME 08 : 01 : 46

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

Upwards scenario: USDJPY gained momentum on the positive side and formed fresh high today, which is our key point for further market gains. Strengthening above the resistance at 81.97 (R1) would enable expected targets at 82.14 (R2) and 82.29 (R3). Downwards scenario: Retracement development is limited to the next support level at 81.70 (S1). Clearance here would open road towards to possible targets, located at 81.53 (S2) and 81.35 (S3).

Resistance Levels: 81.97, 82.14, 82.29
Support Levels: 81.70, 81.53, 81.35

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

alayoua · November 22, 2012, 6:08am

[B]Daily Forex Analysis from FXCC Nov 22 2012

Market pricing Greece deal by Monday

Judging by the reaction of the market after EU authorities failed to reach a deal on Greece, hopes that by Monday leaders will resolve the technicalities and find a way to unblock the next disbursement of bailout money to Greece, continue to run high, and so does the Euro. There are varies option on the table, with the WSJ citing the three most likely, which include a debt buybacks program, loan interest cuts to 0.25%, which may potentially save the country over 44 billion euros, and a return of SMP profits. The German leader Angela Merkel advocated after the last EcoFin meeting that they could beef up the EFSF funds by 10 billion euros to support an activation of a Greece buy back program. Meanwhile, EU leaders are scheduled to have talks today about budget talks, with the market focusing on the area’s spending plan. Headline over this meeting will hardly move the Euro.

Eurozone finance ministers are discussing options to bring down Greece’s debt to 120% of GDP in 2020. One of the measures under discussion is suspending for 10 years interest payments on loans provided to Greece by the European Financial Stability Facility (EFSF), Reuters reported citing an unnamed official. Another measure could be to buy back Greek debt held by private financial institutions, offering 30% of its value, while a third step would be to cut the interest on €53 billion of bilateral loans to Greece, to 25 basis points from the current 150 basis points.
https://support.fxcc.com/email/technical/22112012/

UPCOMING EVENTS :
2012-11-22 08:28 GMT | Germany. Markit Services PMI
2012-11-22 08:58 GMT | European Monetary Union. Markit Services PMI
2012-11-22 13:30 GMT | Canada. Retail Sales
2012-11-22 15:00 GMT | European Monetary Union. Consumer Confidence

FOREX NEWS :
2012-11-22 05:44 GMT | EUR/USD below 1.16 in 2013 favored – JPM
2012-11-22 04:07 GMT | GBP/JPY moving in tight ranges below 132
2012-11-22 03:03 GMT | AUD is 5% overvalued – JPM
2012-11-22 01:28 GMT | AUD/CAD risks to the downside if below 1.0300 – TD Securities

EURUSD :
HIGH 1.28682 LOW 1.28261 BID 1.28466 ASK 1.28472 CHANGE 0.14% TIME 08 : 17:21

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD tested positive side today and gains 0.14 %. Local high, formed today acts now as next barrier for further price appreciation. Clearance of 1.2868 (R1) would suggest next targets at 1.2885 (R2) and 1.2902 (R3). Downwards scenario: Important support level locates right at 1.2831 (S1). Successful retest here would open route towards to next target at 1.2814 (S2) and any further decline would then be limited to final support for today at 1.2796 (S3).

Resistance Levels: 1.2868, 1.2885, 1.2902
Support Levels: 1.2831, 1.2814, 1.2796

GBPUSD :
HIGH 1.59698 LOW 1.59509 BID 1.59599 ASK 1.59606 CHANGE 0.06% TIME 08 : 17:22

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

Upwards scenario: GBPUSD accomplished new step of uptrend formation. Risk of further market increase is seen above the resistance at 1.5970 (R1). Violation here might increase bullish pressure and expose next targets at 1.5981 (R2) and 1.5992 (R3). Downwards scenario: Price depreciation below the support at 1.5949 (S1) level might likely push the pair toward the second target at 1.5939 (S2) and any further market decline would then be limited to support at 1.5928 (S3) price.

Resistance Levels: 1.5970, 1.5981, 1.5992
Support Levels: 1.5949, 1.5939, 1.5928

USDJPY :
HIGH 82.591 LOW 82.366 BID 82.470 ASK 82.474 CHANGE -0.07% TIME 08 : 17:24

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

Upwards scenario: If we take a look on the hourly chart we can see that medium-term bias is clearly positive. We expect further appreciation if the price manages to overcome 82.61 (R1). Next targets could be found at 82.80 (R2) and 82.99 (R3). Downwards scenario: A failure to clear next resistance barrier would open the way towards the initial support level at 82.26 (S1) price. Loss here might take the pair towards to eventual targets, located at 82.07 (S2) and 81.87 (S3) in potential.

Resistance Levels: 82.61, 82.80, 82.99
Support Levels: 82.26, 82.07, 81.87

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

alayoua · November 23, 2012, 4:39am

[B]Daily Forex Analysis from FXCC Nov 23 2012

Greece edges towards a debt deal; IMF lowers demands

Greece may soon breathe a sigh of relief, as a deal with the Troika looks closer, according to Greek-based paper ekathimeini, citing Finance Minister Yannis Stournaras who suggests only 10 billion euros stand in the way of a deal.From ekathimeini: “Sources said that another 8 to 10 billion euros was needed to meet the target.” the Greek paper also reports that “the IMF has accepted that Greek debt will not meet its target of 120 percent of GDP in 2020 and is willing for this to change to 124 percent in the same year.”

German Chancellor Angela Merckel said after the meeting she doubts an agreement will be reached on EU budget this week, and will likely need another few sessions of negotiations. She added positions are too far apart for now. Meanwhile, according to an official statement by the European Council, Yves Mersch has been appointed to the executive board of the European Central Bank for a term of eight years as from 15 December. He will succeed José Manuel González-Páramo, who completed his term of office on 31 May.
https://support.fxcc.com/email/technical/23112012/

UPCOMING EVENTS :
2012-11-23 **:00 GMT | European Monetary Union. European Council meeting
2012-11-23 07:00 GMT | Germany. Gross Domestic Product
2012-11-23 09:30 GMT | United Kingdom. BBA Mortgage Approvals
2012-11-23 13:30 GMT | Canada. Consumer Price Index

FOREX NEWS :
2012-11-23 05:50 GMT | GBP/USD makes 10-year volatility lows while around 1.5950
2012-11-23 04:47 GMT | USD/JPY in the red below 82.50 for first time in a week
2012-11-23 03:40 GMT | USD/CAD 0.99 a decent support area - TDS
2012-11-23 02:57 GMT | EUR/USD finds bids above 1.2870

EURUSD :
HIGH 1.28939 LOW 1.28685 BID 1.28939 ASK 1.28940 CHANGE 0.06% TIME 08 : 13 : 26

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We placed our next resistance level above the yesterday high at 1.2899 (R1). If the market manages to overcome it, next resistance in focus would be 1.2917 (R2) and any further rise would then be targeting 1.2935 (R3).Downwards scenario: The pair continues to extend its strengthening on the medium- term perspective, however a breach of our next support level at 1.2868 (S1) might trigger downside formation towards to our next targets at 1.2851 (S2) and 1.2839 (S3).

Resistance Levels: 1.2899, 1.2917, 1.2935
Support Levels: 1.2868, 1.2851, 1.2839

GBPUSD :
HIGH 1.59526 LOW 1.59336 BID 1.59526 ASK 1.59530 CHANGE 0.1% TIME 08 : 13 : 27

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

Upwards scenario: BBA Mortgage Approvals release at 09:30 GMT in focus. Break above the next resistance level at 1.5959 (R1) would suggest next targets at 1.5969 (R2) and 1.5978 (R3) in potential. Downwards scenario: From the technical side, market sentiment is not clear. Next attractive level for the downside development locates at 1.5939 (S1). Loss here might take the pair towards to eventual targets at 1.5928 (S2) and 1.5918 (S3).

Resistance Levels: 1.5959, 1.5969, 1.5978
Support Levels: 1.5939, 1.5928, 1.5918

USDJPY :
HIGH 82.506 LOW 82.181 BID 82.268 ASK 82.272 CHANGE -0.24% TIME 08 : 13 : 28

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

Upwards scenario: Medium term bias remains positive after correction, provided today. Our next resistance is placed at 82.44 (R1). Rise above it might push price towards to next targets at 82.61 (R2) and 82.77 (R3) intraday.Downwards scenario: Instrument trades below the moving averages and we expect the pair to extend its losses later on today. Below the support level at 82.15 (S1) locates initial retracement targets at 81.98 (S2) and 81.82 (S3).

Resistance Levels: 82.44, 82.61, 82.77
Support Levels: 82.15, 81.98, 81.82

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

alayoua · December 3, 2012, 5:22am

[B]Daily Forex Analysis from FXCC Dec 03 2012

Merkel no longer discards losses on Greek debt

Weekend headlines suggest German Chancellor Angela Merkel may be re-thinking its stance over future Greece’s debt haircuts, after she said on Sunday this is an option to consider, although not until the ongoing rescue program shows Greece’s budget turned into a surplus. Since last Tuesday’s deal to ease the mammoth-size debt burden that the Greek government suffers, so that its debt to GDP ratio can come down to 126.6% or thereabouts by 2020, Germany’s posture on write-downs of Greek debt has been firm, saying that it would be illegal to pursue such scenario.

The majority of German Chancellor Angela Merkel’s center-right coalition members as well as the main opposition parties supported the Greek deal. This outcome has positive implications for Merkel herself, as the vote was also a test of her lawmaker’s support for her European policies, ahead of the federal elections scheduled for September 2013. During the debate preceding the vote German Finance Minister Wolfgang Schaeuble expressed his satisfaction with Greece’s austerity efforts and emphasized that the speculation on another haircut on Greek debt could destabilize the situation in the Eurozone further. - FXstreet.com
FXCC Market Update 03-12-2012

UPCOMING EVENTS :
2012-12-03 13:58 GMT | United States. Markit Manufacturing PMI (Nov)
2012-12-03 14:00 GMT | United States. ISM Prices Paid (Nov)
2012-12-03 15:00 GMT | United States. Construction Spending (MoM) (Oct)
2012-12-03 15:00 GMT | United States. ISM Manufacturing PMI (Nov)

FOREX NEWS :
2012-12-03 04:37 GMT | EUR/GBP firm above 0.8100
2012-12-03 00:02 GMT | USD/JPY capped below 82.50
2012-12-03 01:25 GMT | EUR/USD should advance towards 1.3140 - BBH
2012-12-03 00:47 GMT | AUD/USD breaks through 1.04 on disappointing Australian data

EURUSD :
HIGH 1.30471 LOW 1.29845 BID 1.30309 ASK 1.30316 CHANGE 0.35% TIME 08:14:27

OUTLOOK SUMMARY : UP
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Bullish

MARKET ANALYSIS - Intraday Analysis

Price action looks mainly consolidative on the hourly chart. Our next resistance stays at 1.3042 (R1). Market expansion towards to next targets at 1.3055 (R2) and 1.3075 (R3) looks reasonable if the price manages to overcome it.

Resistance Levels: 1.3042, 1.3055, 1.3075
Support Levels: 1.2968, 1.2958, 1.2938

GBPUSD :
HIGH 1.60476 LOW 1.60129 BID 1.60304 ASK 1.60313 CHANGE 0.15% TIME 08:14:28

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

The instrument does not seem to have momentum to identify clear direction. Protective measures for the upside development is seen at 1.6058 (R1). Break here would suggest next intraday targets at 1.6067 (R2) and 1.6077 (R3).

Resistance Levels: 1.6058, 1.6067, 1.6077
Support Levels: 1.6020, 1.6011, 1.5999

USDJPY :
HIGH 82.502 LOW 82.266 BID 82.342 ASK 82.348 CHANGE -0.15% TIME 08:14:29

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

Instrument moves in range mode. In terms of technical levels next resistance level could be found at 82.74 (R1). Appreciation above it might enable next targets at 82.84 (R2) and 81.68 (R3) in potential.

Resistance Levels: 82.74, 82.84, 82.99
Support Levels: 82.04, 81.90, 81.68

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

alayoua · December 4, 2012, 2:55am

[B]Daily Forex Analysis from FXCC Dec 04 2012

Spain makes formal request for EU funds to recapitalize ailing banks

Spain has formally requested aid for its ailing banking sector on Monday. 36.5 billion euros of bailout funds, including 2.5 billion euros for the “bad bank", are due to be released on December 12. Four nationalized Spanish banks will be the recipients of the funds: 18 billion will go to Bankia; 9 billion to CatalunyaBanc, 5 billion to Nova Caixa Galicia; 4.5 billion to Banco de Valencia. The release of the aid is expected to be approved by the Eurogroup during their monthly meeting today in the European afternoon.

Even though it is not the full sovereign bailout request awaited by the markets, the news caused the euro to spike to the 1.3075 region, a new six-week high against the dollar. - FXstreet.com
FXCC Market Update 04-12-2012

UPCOMING EVENTS :
2012-12-04 10:00 GMT | European Monetary Union.Producer Price Index (YoY) (Oct)
2012-12-04 14:00 GMT | Canada.BoC Interest Rate Decision (Jan 4)
2012-12-04 14:00 GMT | Canada.BOC Rate Statement
2012-12-04 22:30 GMT | Australia.AiG Performance of Services Index (Nov)

FOREX NEWS :
2012-12-04 05:36 GMT | EUR/GBP in a 10 pip range for last 11 hours above 0.81
2012-12-04 03:20 GMT | EUR/JPY bulls looking for break above 107.65
2012-12-04 01:58 GMT | More EUR/USD gains yet to come - V.Bednarik
2012-12-04 01:10 GMT | USD/JPY double roof materializing at 78.6% Fibo

EURUSD :
HIGH 1.30645 LOW 1.30459 BID 1.30570 ASK 1.30575 CHANGE 0.04% TIME 08:05:53

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

MARKET ANALYSIS - Intraday Analysis

We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.3071 (R1). Immediate focus comes on 1.3088 (R1) and 1.3103 (R3) in such scenario.

Resistance Levels: 1.3071, 1.3088, 1.3103
Support Levels: 1.3041, 1.3030, 1.3020

GBPUSD :
HIGH 1.61024 LOW 1.60865 BID 1.60943 ASK 1.60949 CHANGE 0.02% TIME 08:05:54

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

Break above the resistance level at 1.6115 (R1) might change market structure and determine medium term uptrend development. In such case, we suggest next targets at 1.6138 (R2) and any further rise would then be targeting to 1.6161 (R3) intraday.

Resistance Levels: 1.6115, 1.6138, 1.6161
Support Levels: 1.6072, 1.6059, 1.6049

USDJPY :
HIGH 82.249 LOW 82.042 BID 82.111 ASK 82.116 CHANGE -0.16% TIME 08:05:55

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

Our next support level stays at 82.06 (S1). Loss here might drive market price towards to next targets at 81.96 (S2) and 81.88 (S3) in perspective.

Resistance Levels: 82.28, 82.46, 82.68
Support Levels: 82.06, 81.96, 81.88

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

alayoua · December 6, 2012, 6:02am

[B]Daily Forex Analysis from FXCC Dec 06 2012

S&P downgrades Greece to selective default

In an unsurprising headline, reflected by the marginal losses in EUR/USD since the news broke, the rating agency S&P has downgraded Greece’s long-term debt rating to selective default from CCC. Greece is technically default. The Greek government invitation to private sector bondholders involvement to participate in the debt buybacks program triggered the decision by S&P. However, according to Jamie McGeever, Editor and presenter at Reuters TV, “once Greek buyback is done, probably on or around Dec 17, selective default will be over, so S&P will likely lift Greece back to CCC rating.”

British Chancellor George Osborne delivered his Autumn Budget Statement before the parliament on Wednesday. He emphasized that the Eurozone debt crisis had been weighing on the UK economy and informed that the Office of Budget Responsibility slashed its GDP forecast to -0.1% in 2012 from +0.8%. The predictions for 2012 and 2013 are 1.2% and 2.0%, respectively. - FXstreet.com
FXCC Market Update 06-12-2012

UPCOMING EVENTS :
2012-12-06 10:00 GMT | European Union. Gross Domestic Product s.a. (QoQ) (Q3)
2012-12-06 10:00 GMT | European Union. Gross Domestic Product s.a. (YoY) (Q3)
2012-12-06 12:00 GMT | UK. BoE Interest Rate Decision (Dec 6)
2012-12-06 12:45 GMT | ECB Interest Rate Decision

FOREX NEWS :
2012-12-06 06:01 GMT | GBP/USD below 1.61 ahead of BoE
2012-12-06 03:59 GMT | EUR/JPY in tight range below 108, ahead of ECB
2012-12-06 03:04 GMT | GBP/JPY pressing on fresh 8-month highs above 132.50
2012-12-06 00:40 GMT | AUD/USD on the rise after better than expected Aus jobs data

EURUSD :
HIGH 1.30769 LOW 1.30453 BID 1.30568 ASK 1.30572 CHANGE -0.06% TIME 08:12:20

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

MARKET ANALYSIS - Intraday Analysis

We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.3085 (R1). Immediate focus comes on 1.3104 (R1) and 1.3126 (R3) in such scenario.

Resistance Levels: 1.3085, 1.3104, 1.3126
Support Levels: 1.3045, 1.3027, 1.3008

GBPUSD :
HIGH 1.61002 LOW 1.60859 BID 1.60882 ASK 1.60892 CHANGE -0.02% TIME 08:12:21

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

A medium-term bias is negative now though intraday bullish forces might be activated if the pair penetrates above the resistance level at 1.6115 (R1). Next immediate resistance levels holds at 1.6121 (R2) and 1.6129 (R3).

Resistance Levels: 1.6115, 1.6121, 1.6129
Support Levels: 1.6085, 1.6073, 1.6062

USDJPY :
HIGH 82.617 LOW 82.358 BID 82.442 ASK 82.445 CHANGE -0.03% TIME 08:12:22

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

We are not expecting significant price deviation later on today, though risk of positive tone establishment is seen above the next resistance level at 82.65 (R1). Any penetration above this level would put in focus higher targets at 82.77 (R2) and 92.97 (R3).

Resistance Levels: 82.65, 82.77, 82.97
Support Levels: 82.04, 81.92, 81.81

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

alayoua · December 7, 2012, 4:33am

[B]Daily Forex Analysis from FXCC Dec 07 2012

ECB, Berlusconi Hit EURUSD Hard

Lower by 0.73% in the morning session, the EURUSD is being weighed down by major developments in Europe. Specifically, sparks of political instability in one of the troubled EU members, as well as a pessimistic outlook on Europe’s growth potential is making it difficult for traders to be bullish the Euro. The sentiment has traders and technicians eyeing the 1.2900 as the next viable support barrier. Although leaving the benchmark interest rate at 0.75% early in the morning, the European Central Bank issued a dour note when it came time to assess the economic future of the European Union. In a post decision press conference, ECB President Mario Draghi noted that significant headwinds had placed pressure on a potential regional recovery. So much so that growth prospects for next year were forecasted lower, with the 17-member Union looking to either remain unchanged or contract slightly. Official estimates now lie between a 0.3% pace of growth and a 0.9% contraction in 2013.

Additionally, Draghi noted that “available statistics and survey indicators continue to signal further weakness in activity in the last quarter of the year”.This isn’t seen as favorable for the Euro, which was expecting a slight recovery in the European Union next year – at a pace of 0.5%. - FXstreet.com
FXCC Market Update 07-12-2012

UPCOMING EVENTS :
2012-12-07 10:00 GMT | EMU.ECB President Draghi’s Speech
2012-12-07 13:30 GMT | Canada.Net Change in Employment (Nov)
2012-12-07 13:30 GMT | Canada.Unemployment Rate (Nov)
2012-12-07 13:30 GMT | USA.Nonfarm Payrolls (Nov)

FOREX NEWS :
2012-12-07 05:50 GMT | GBP/USD unchanged around 1.0650; UK, US data eyed
2012-12-07 02:58 GMT | EUR/JPY grinds back up to 107 after overnight drop
2012-12-07 06:06 GMT | Will NFP confirm EUR/USD weekly losses?
2012-12-07 00:38 GMT | AUD/USD, Australia trade number discourages volatility; stops above 1.0525

EURUSD :
HIGH 1.29724 LOW 1.29548 BID 1.29564 ASK 1.29571 CHANGE -0.09% TIME 08:05:55

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

MARKET ANALYSIS - Intraday Analysis

Current price deviation might face next support level at 1.2950 (S1). We expect price downgrade towards to our targets at 1.2942 (S2) and 1.2931 (S3) as a part of consolidation formation in case of successful penetration below it.

Resistance Levels: 1.3048, 1.3070, 1.3092
Support Levels: 1.2950, 1.2942, 1.2931

GBPUSD :
HIGH 1.60573 LOW 1.60359 BID 1.60533 ASK 1.60542 CHANGE 0.02% TIME 08:05:56

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

Price might retest our support at 1.6034 (S1) on the downside. Break here would suggest next target at 1.6037 (S2) and any further fall would then be targeting to 1.6012 (S3).

Resistance Levels: 1.6082, 1.6094, 1.6117
Support Levels: 1.6034, 1.6027, 1.6012

USDJPY :
HIGH 82.564 LOW 82.363 BID 82.379 ASK 82.384 CHANGE 0% TIME 08:05:57

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

Instrument trapped to the range mode trading and we are not expecting significant deviation from its average parameters today. Risks of market strengthening are seen above the next resistance level at 82.46 (R1). Our suggested targets locate at 82.55 (R2) and 82.61 (R3).

Resistance Levels: 82.46, 82.55, 82.61
Support Levels: 82.29, 82.19, 82.12

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

alayoua · December 10, 2012, 2:37am

[B]Daily Forex Analysis from FXCC Dec 10 2012

Italian PM Monti announces intention to resign; early elections likely in February

The political news coming from Italy, in which current primer minister Mario Monti plans to resign once the 2013 budget goes through parliament and is approved, are not sitting well with the Euro, as investors anticipate it may lead to a new chapter in the EU crisis. The prospects of higher Italian bond yields when Europe opens weighs on the Euro. The Italian general elections, upon final confirmation, will likely be celebrated in February. Former primer minister Silvio Berlusconi is to run as centre-right candidate, and with the threat of an ‘Il Cavaliere’-led anti-euro campaign looming, traders have logically turned cautious. The leading centre-left PD party is still in control, with Berlusconi’s centre-right PDL behind by over 16 points.

According to NAB: “Prospects of Italian bond yields spiking higher when Europe opens is driving the euro lower. EUR bears would though do well to note that the People of Liberty party currently trails the centre-left Democratic party by 20% points. Plus, the re-appearance of Mr Berlusconi to the centre of the Italian political stage may well prompt Mr Monti to make him himself available for re-selection as PM after elections now seen likely to occur next February, three months earlier than originally intended.” - FXstreet.com
FXCC Market Update 10-12-2012

UPCOMING EVENTS :
2012-12-10 13:15 GMT | Canada.Housing Starts s.a (YoY) (Nov)
2012-12-10 17:15 GMT | UK.BoE’s Governor King Speech
2012-12-10 21:00 GMT | Australia.REINZ House Price Index (MoM) (Nov)
2012-12-10 21:45 GMT | Australia.Electronic Card Retail Sales (MoM)/(YoY) (Nov)

FOREX NEWS :
2012-12-10 05:33 GMT | GBP/USD outlook bearish below 1.6065 – V.Bednarik
2012-12-10 04:41 GMT | EUR/JPY offered toward 106.00; yen more bid
2012-12-10 03:49 GMT | EUR/USD bears beware ahead of Spanish bailout - UBS
2012-12-10 02:26 GMT | AUD/USD slips to 1.0465 on downbeat China trade numbers

EURUSD :
HIGH 1.29157 LOW 1.28871 BID 1.29066 ASK 1.29074 CHANGE -0.13% TIME 08:12:00

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

MARKET ANALYSIS - Intraday Analysis

Pair is losing its neutral structure, as the price has tested new lows today. Next immediate support locates at 1.2888 (S1). Break here is required to enable bearish pressure towards our targets at 1.2867 (S2) and 1.2846 (S3).

Resistance Levels: 1.2929, 1.2952, 1.2971
Support Levels: 1.2888, 1.2867, 1.2846

GBPUSD :
HIGH 1.60426 LOW 1.60172 BID 1.60240 ASK 1.60247 CHANGE -0.07% TIME 08:12:01

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

Bearish penetration below the support at 1.6007 (S1) might determine negative sentiment for the remaining of the day with possible targets in focus at 1.5994 (S2) and 1.5982 (S3) intraday.

Resistance Levels: 1.6041, 1.6057, 1.6070
Support Levels: 1.6007, 1.5994, 1.5982

USDJPY :
HIGH 82.639 LOW 82.374 BID 82.410 ASK 82.415 CHANGE -0.07% TIME 08:12:04

OUTLOOK SUMMARY : Sideway
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low

We are not expecting significant price deviation later on today, though risk of positive tone establishment is seen above the next resistance level at 82.57 (R1). Any penetration above this level would put in focus higher targets at 82.68 (R2) and 82.77 (R3).

Resistance Levels: 82.57, 82.68, 82.77
Support Levels: 82.30, 82.20, 82.11

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

alayoua · December 11, 2012, 5:09am

[B]Daily Forex Analysis from FXCC Dec 11 2012

Silvio Berlusconi Makes Trouble For EURUSD Bulls

Although the single currency is higher on the day, it’s abundantly clear that the recent resignation by Italian Prime Minister Mario Monti is keeping Euro bulls at bay. The prime minister is now scheduled to step down following the 2013 budget vote taking place before the end of the year – instead of serving till April of next year. The announcement changes the political landscape of the largest of the troubled peripheral nations, and will likely add to recent pessimism when it comes to the single currency. However, with public discontent over recent austerity and tax increases rising, many of Monti’s previous allies have fallen away. In particular, former Prime Minister Silvio Berlusconi and his People of Freedom (PDL) party, have become disenchanted with the current administration. The sentiment was heightened last week when representatives of the PDL walked out of an economic reform vote – calling for a vote of no-confidence in the prime minister. The notion was unfortunately backed by several other members of the Democratic Party – Monti’s major backer in the political arena.

With Monti’s final resignation to come in the next few weeks, it will be up to Italian President Giorgio Napolitano to dissolve parliament, and either appoint a successor or keep Monti as the country’s PM. General elections will follow, placing the date somewhere in February 2013 at the earliest. - FXstreet.com
FXCC Market Update 11-12-2012

UPCOMING EVENTS :
2012-12-11 10:00 GMT | Germany.ZEW Survey - Economic Sentiment (Nov)
2012-12-11 13:30 GMT | USA.Trade Balance (Oct)
2012-12-11 23:30 GMT | Australia.Westpac Consumer Confidence (Dec)
2012-12-11 23:50 GMT | Japan.Machinery Orders (YoY) (Oct)

FOREX NEWS :
2012-12-11 04:59 GMT | AUD/USD strengthens on China data
2012-12-11 04:42 GMT | EUR/USD breaking to fresh session highs on better than expected China data
2012-12-11 03:55 GMT | GBP/JPY bears defending 132.50
2012-12-11 01:20 GMT | EUR/AUD on fresh session highs following bad Aussie confidence data

EURUSD :
HIGH 1.29622 LOW 1.29287 BID 1.29597 ASK 1.29601 CHANGE 0.15% TIME 08:05:06

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

MARKET ANALYSIS - Intraday Analysis

We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.2968 (R1). Immediate focus comes on 1.2981 (R2) and 1.2996 (R3) in such scenario.

Resistance Levels: 1.2968, 1.2981, 1.2996
Support Levels: 1.2905, 1.2891, 1.2877

GBPUSD :
HIGH 1.60873 LOW 1.6069 BID 1.60870 ASK 1.60879 CHANGE 0.08% TIME 08:05:07

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

The initial uptrend formation was resumed later today. Possible targets are located at 1.6094 (R2) and 1.6102 (R3), in case of successful penetration above the next resistance level at 1.6087 (R1).

Resistance Levels: 1.6087, 1.6094, 1.6102
Support Levels: 1.6063, 1.6052, 1.6042

USDJPY :
HIGH 82.437 LOW 82.305 BID 82.310 ASK 82.315 CHANGE -0.06% TIME 08:05:08

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

USD/JPY trades in non-directional basis on the medium term perspective. Further price decrease is expected below the next support level at 82.28 (S1). Break here is required to enable next targets at 82.20 (S2) and 82.14 (S3).

Resistance Levels: 82.44, 82.50, 82.56
Support Levels: 82.28, 82.20, 82.14

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

alayoua · December 12, 2012, 5:20am

[B]Forex Technical & Market Analysis Dec 12 2012

Greek banks tender rest of Greek debt holdings to help reach buyback target
According to reports, Greece has reached the bond buyback target at 31.5 billion euros on Tuesday. The deadline for submitting bids was extended by one more day yesterday, due to the inability to reach the expected 30 billion euros by initial deadline which ended on December 7 at 17:00 GMT. Greek banks probably tendered the total amount of the Greek debt they hold in order to help cover the difference between the 26.5 billion euros received last Friday and the the expected 30 billion euros. This means that the EU and the IMF will now be able to unblock the next bailout tranche for the indebted country.

Spain held a debt auction on Tuesday during which it managed to sell 3.89 billion euros of 12- and 18 -month government bods, above the targeted 3.5 billion euros. 2.39 billion euros of 12-month bills were auctioned at an average yield of 2.556%, down from 2.797% seen at the previous auction. The bid to cover ratio was at 2.46, compared with the previous 2.12. 1.5 billion euros of 18-month bonds were sold at an average yield of 2.778% versus 3.034%. The bid to cover ratio was at 2.7 from 5.72 seen previously.
Forex Technical & Market Analysis: December 12 2012

Forex Calendar
2012-12-12 09:30 GMT | UK.Claimant Count Change (Nov)
2012-12-12 17:30 GMT | USA.Fed Interest Rate Decision (Dec 12)
2012-12-12 19:00 GMT | USA.FOMC Economic Projections
2012-12-12 19:15 GMT | USA.Fed’s Monetary Policy Statement and press conference

Forex News
2012-12-12 05:48 GMT | GBP/USD tight in range ahead of UK, US events
2012-12-12 04:00 GMT | GBP/JPY just 30 pips below year 2012 highs
2012-12-12 02:27 GMT | AUD/USD stalls below 1.0540 awaiting RBA Stevens
2012-12-12 00:49 GMT | EUR/USD: tight ranges circa 1.3000 expected pre-Fed

EURUSD
HIGH: 1.30141 | LOW: 1.29968 | BID: 1.29974 | ASK: 1.29980 | CHANGE: -0.06% | TIME: 08:14:53

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

MARKET ANALYSIS – Intraday Analysis
Price setup is looking for a pullback development. Downside fluctuations remains for now limited to next support level at 1.2984 (S1), only clear break here would be a signal of market easing with next targets at 1.2971 (S2) and 1.2958 (S3).

Resistance Levels: 1.3014, 1.3028, 1.3042
Support Levels: 1.2984, 1.2971, 1.2958

GBPUSD
HIGH: 1.61203 | LOW: 1.60999 | BID: 1.61110 | ASK: 1.61119 | CHANGE: -0.01% | TIME: 08:14:54

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

The market seems to be trading in a range. If the market participants manage to push the price below the support level at 1.6089 (S1) the instrument has an increased likelihood of failing towards to next targets at 1.6071 (S2) and 1.6054 (S3).

Resistance Levels: 1.6130, 1.6144, 1.6158
Support Levels: 1.6089, 1.6071, 1.6054

USDJPY
HIGH: 82.69 | LOW: 82.481 | BID: 82.654 | ASK: 82.659 | CHANGE: 0.19% | TIME: 08:14:55

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

USD/JPY did not find priority in direction yet. Climb above the next resistance level at 82.70 (R1) might provide market with sufficient bullish power and attack next targets at 82.76 (R2) and 82.82 (R3) later on today.

Resistance Levels: 82.70, 82.76, 82.82
Support Levels: 82.32, 82.26, 82.20

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

alayoua · December 13, 2012, 4:53am

[B]Forex Technical & Market Analysis Dec 13 2012

After the agreement among EU finance ministers to allow the ECB to supervise banks in the Euro-zone, a stream of follow-up headlines continues via Reuters, saying that the ECB new supervisory role should be up and running by end of 2013. Decision was unanimous, EU’s Commissioner Faull said. Meanwhile, French Finance Minister Pierre Moscovic notes, via Reuters: “ECB will supervise 3 biggest banks in each country, with the Euro area to have uniform banking rules.” He also added that “the ECB supervision is first step to Euro banking union…”

Schaeuble, German FinMin said to Reuters reporters “the EU wants the ECB oversight in full in 2014″, with other parallel comments from officials saying ECB supervisor “should help break bank-sovereign link.” – FXstreet.com
Forex Technical & Market Analysis: December 13 2012

Forex Economic Calendar
2012-12-13 13:30 GMT | USA.Initial Jobless Claims (Dec 8)
2012-12-13 13:30 GMT | USA.Producer Price Index ex Food & Energy (YoY) (Nov)
2012-12-13 13:30 GMT | USA.Retail Sales (MoM) (Nov)
2012-12-13 15:00 GMT | USA.Business Inventories (Oct)

Forex News
2012-12-13 06:03 GMT | GBP/USD bounces from intraday lows; reproaching 1.6150
2012-12-13 04:58 GMT | EUR/USD again peters out ahead of 1.31
2012-12-13 01:36 GMT | USD/JPY at almost 9-month highs above 83.30
2012-12-13 00:32 GMT | USD/CHF steady around 0.9260 ahead of SNB

EURUSD
HIGH: 1.30909 | LOW: 1.3056 | BID: 1.30806 | ASK: 1.30814 | CHANGE: 0.06% | TIME: 08:14:52

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

MARKET ANALYSIS – Intraday Analysis
Medium term bias is positive for the pair. Risk of market appreciation is seen above the next resistance level at 1.3097 (R1). Loss here would suggest next target at 1.3120 (R2) and any further rise would then be targeting 1.3141 (R3).

Resistance Levels: 1.3097, 1.3120, 1.3141
Support Levels: 1.3061, 1.3037, 1.3018

GBPUSD
HIGH: 1.61478 | LOW: 1.61252 | BID: 1.61404 | ASK: 1.61410 | CHANGE: -0.05% | TIME: 08:14:53

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

Instrument show up -0.05% decrease today and any further appreciation needs to clear barrier at 1.6171 (R1). Intraday targets could be found at 1.6183 (R2) and then at 1.6205 (R3).

Resistance Levels: 1.6171, 1.6183, 1.6205
Support Levels: 1.6117, 1.6093, 1.6070

USDJPY
HIGH: 83.671 | LOW: 83.127 | BID: 83.638 | ASK: 83.642 | CHANGE: 0.44% | TIME: 08:14:54

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

Next on tap, resistance level at 83.82 (R1). A break higher could open the door for an attack to next target at 83.92 (R2) and final immediate resistance is seen at 84.08 (R3).

Resistance Levels: 83.82, 83.92, 84.08
Support Levels: 83.16, 83.00, 82.83

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

alayoua · December 14, 2012, 2:35am

[B]Forex Technical & Market Analysis Dec 14 2012

Leaders debate EMU consolidation after bank supervision deal

In order to achieve the completion of EMU, the 27-countries bloc made further progress on the roadmap to achieve such goals, after the agreement for a Euro bank supervisor by the ECB earlier on the week, which will police north of 200 flagship banks.Today’s European leaders meeting, which again concluded over 2 hours past midnight Brussels time, showed some understandable differences on how to go about the next critical steps, such as a banking resolution, measure to reduce country’s deficit and a budget for the whole bloc. One of the notorious opposed members to see mutualisation of the debts after the ECB bank’s oversight role, was German Chancellor Angela Merkel, who continues to play it safely against passing new liabilities for German taxpayers ahead of next year’s national elections.

As Reuters notes, “a German delegation source said that in the summit room, she opposed a joint resolution fund for banks at this stage and rejected any big “fiscal capacity” to help euro zone states cope with economic shocks or reward them for structural reforms. Instead, she said EU countries should concentrate on consolidating their own budgets, according to notes of the meeting and an account provided by one participant.” Merkel, once out of the official meeting, told reporters that the bank union deal was a ‘very important’ decision taken by the EZ leaders, and that such agreement paves the way for future positive developments of a currency union. On the transaction tax, she suspects a solidarity fund for Euro zone states with limits 10 to 20 billion Euros. - FXCC Market Update 14-12-2012

Forex Economic Calendar :
2012-12-14 10:00 GMT | EU.Consumer Price Index - Core (YoY) (Nov)
2012-12-14 10:00 GMT | EU.Consumer Price Index (YoY) (Nov)
2012-12-14 13:30 GMT | USA.Consumer Price Index (YoY) (Nov)
2012-12-14 13:30 GMT | USA.Consumer Price Index Ex Food & Energy (YoY) (Nov)

Forex News :
2012-12-14 05:51 GMT | GBP/USD rallies above 1.6120 resistance; scope for 50-pip run?
2012-12-14 04:50 GMT | AUD/JPY hits 9-month highs; eyes resistance at 88.60
2012-12-14 03:29 GMT | USD/JPY just spiked a bit; approaching 84.00
2012-12-14 00:53 GMT | EUR/USD still below 1.31; outlook remains bullish – V.Bednarik

EURUSD :
HIGH 1.31 LOW 1.30662 BID 1.30890 ASK 1.30897 CHANGE 0.09% TIME 08:09:37

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

MARKET ANALYSIS - Intraday Analysis

Medium term bias is positive for the pair. Risk of market appreciation is seen above the next resistance level at 1.3126 (R1). Loss here would suggest next target at 1.3139 (R2) and any further rise would then be targeting 1.3155 (R3).

Resistance Levels: 1.3126, 1.3139, 1.3155
Support Levels: 1.3081, 1.3069, 1.3056

GBPUSD :
HIGH 1.61287 LOW 1.61035 BID 1.61238 ASK 1.61249 CHANGE 0.08% TIME 08:09:38

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

Price action looks mainly consolidative on the hourly chart. Our next resistance stays at 1.6152 (R1). Market expansion towards to next targets at 1.6163 (R2) and 1.6176 (R3) looks reasonable if the price manages to overcome it.

Resistance Levels: 1.6152, 1.6163, 1.6176
Support Levels: 1.6101, 1.6083, 1.6067

USDJPY
HIGH 83.961 LOW 83.6 BID 83.894 ASK 83.897 CHANGE 0.3% TIME 08:09:39

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

While instrument trades below the resistance level at 83.97 (R1), market would try to form correction. Break above it is required to attack the upside target at 84.10 (R2) and 84.22 (R3) in potential.

Resistance Levels: 83.97, 84.10, 84.22
Support Levels: 83.62, 83.51, 83.41

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

alayoua · December 17, 2012, 5:25am

[B]Forex Technical & Market Analysis FXCC Dec 17 2012

U.S. Fiscal Cliff: Republican leadership softens stance on tax rates
The Fiscal Cliff negotiations are showing signs of progress after the weekend brought an offer from GOP lawmakers to allow tax rates to rise on those making more than $1mn; President Obama had been demanding that tax rates rise on those earning over $250k. “With progress remaining slow and messages mixed expect ongoing debt negotiations to well and truly steal the limelight in the lead up to Christmas,” says OzForex Research.

According to Cliff Wachtel, author of The Sensible Guide To Forex, the general fiscal cliff uncertainty is bearish: “Given the widespread consensus that there would be a deal deferring most of the potential government spending cuts and tax increases, and that most global stock indexes remain within 10% of their decade highs, it’s safe to say that markets have not priced in a failure to reach a deal.”
Forex Technical & Market Analysis: December 17 2012

Forex Economic Calendar
2012-12-17 09:00 GMT | European Monetary Union. Labour cost (Q3)
2012-12-17 14:00 GMT | United States. Net Long-Term TIC Flows (Oct)
2012-12-17 18:00 GMT | United States. Fed’s Lacker speech
2012-12-17 23:00 GMT | Australia. Conference Board Australia Leading Index (Oct)

Forex News
2012-12-17 05:18 GMT | GBP/USD limited below 1.6200
2012-12-17 05:15 GMT | EUR/USD stalled below 1.3190; Draghi eyed
2012-12-17 04:12 GMT | EUR/JPY stalls above 111.00 on taking profits
2012-12-17 03:01 GMT | AUD/JPY retracing from 20-month highs above 89.00

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.31871 | LOW: 1.31441 | BID: 1.31574 | ASK: 1.31581 | CHANGE: -0.03% | TIME: 09 : 29:57

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Extension of the stability above the 1.3190 (R1) level might keep the bullish pressure intact and validate next intraday targets at 1.3210 (R2) and 1.3230 (R3). Downwards scenario: The hourly structure might turn into negative territory if the price mange to overcome our next support level at 1.3139 (S1). Supportive areas locates at 1.3120 (S2) and 1.3100 (S3).

Resistance Levels: 1.3190, 1.3210, 1.3230
Support Levels: 1.3139, 1.3120, 1.3100

GBPUSD

HIGH: 1.61988 | LOW: 1.61574 | BID: 1.61789 | ASK: 1.61800 | CHANGE: 0.08% | TIME: 09 : 29:58

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

Upwards scenario: GBPUSD might find buyers above the next important resistance level at 1.6199 (R1). Break here would open way towards to our next resistances at 1.6214 (R2) and 1.6229 (R3). Downwards scenario: In regard to the descending movement, risk of market decline is seen below the support level at 1.6157 (S1). Loss here would enable next targets at 1.6143 (S2) and 1.6128 (S3).

Resistance Levels: 1.6199, 1.6214, 1.6229
Support Levels: 1.6157, 1.6143, 1.6128

USDJPY

HIGH: 84.318 | LOW: 83.854 | BID: 83.974 | ASK: 83.979 | CHANGE: 0.57% | TIME: 09 : 29:58

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

Upwards scenario: A violation of next resistance at 84.34 (R1) might call for a run towards to next target at 84.53 (R2) and any further appreciation would then be targeting 84.72 (R3). Downwards scenario: Near-term risks are directed to a drop back to the consolidation formation below the support at 83.77 (S1). In such case our intraday expected targets would be 83.61 (S2) and 83.45 (S3).

Resistance Levels: 83.34, 84.53, 84.72
Support Levels: 83.77, 83.61, 83.45

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

alayoua · December 18, 2012, 5:21am

[B]Forex Technical & Market Analysis FXCC Dec 18 2012

Fiscal Cliff Talks Thaw

It seems that Republican stances are softening as the clock ticks down to the New Year, and the US approaches the activation of the Fiscal Cliff. In the newest round of discussions, Republican leaders led by House Speaker John Boehner have conceded to allowing a tax rate increase of earners making a minimum of $1 million. The tax rate for income in that range would increase from 36% to 39.5% under the concession.

In addition, Republicans have offered to table the $16.4 trillion debt ceiling discussion for one year. The debt ceiling debate would likely emerge early next year without any deal, sparking concern and speculation of a government shutdown. The concessions have done little to support the greenback as the Obama administration continues to press forward with its objective of raising tax rates for the top 2% of income earners – rejecting recent Republican concessions.
Forex Technical & Market Analysis: December 18 2012

Forex Economic Calendar

N/A | United Kingdom. BOE Inflation Letter
2012-12-18 09:30 GMT | United Kingdom. Consumer Price Index (YoY) (Nov)
2012-12-18 11:00 GMT | United Kingdom. BoE Quarterly Bulletin (Q4)
2012-12-18 23:50 GMT | Japan. Merchandise Trade Balance Total (Nov)

Forex News

2012-12-18 05:15 GMT | GBP/JPY range bound circa 136.00; overextended?
2012-12-18 03:51 GMT | AUD/USD retreats from RBA-induced highs
2012-12-18 02:25 GMT | EUR/AUD capped below 1.25 inside a 30 pip range
2012-12-18 01:57 GMT | USD/JPY outlook bullish on more BoJ easing anticipation – RBS
AUDUSD NZDUSD USDCHF USDCAD GBPJPY EURCHF GOLD SILVER
1.05501/510 0.84333/341 0.91764/780 0.98351/361 136.134/151 1.20860/879 1702.75/.03 32.42/.44

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.31775 | LOW: 1.31556 | BID: 1.31717 | ASK: 1.31723 | CHANGE: 0.07% | TIME: 07 : 59:44

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

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Instrument show up 0.07 % rise today and any further appreciation needs to clear barrier at 1.3179 (R1). Intraday targets could be found at 1.3198 (R2) and then at 1.3218 (R3). Downwards scenario: Market stabilized after the previous day’s gains. Market decline below the next support level at 1.3151 (S1) would suggest next targets at 1.3131 (S2) and 1.3111 (S3).

Resistance Levels: 1.3179, 1.3198, 1.3218
Support Levels: 1.3151, 1.3131, 1.3111

GBPUSD

HIGH: 1.62177 | LOW: 1.6194 | BID: 1.62118 | ASK: 1.62127 | CHANGE: 0.05% | TIME: 07 : 59:45

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

Upwards scenario: Market sentiment is clearly bullish. We placed our next resistance level above the fresh high formed today at 1.6222 (R1). Above here open way towards to next targets at 1.6235 (R2) and then at 1.6249 (R3). Downwards scenario: Downside fluctuations remains for now limited to next support level at 1.6195 (S1), only clear break here would be a signal of market easing with next targets at 1.6181 (S2) and 1.6167 (S3) in potential.

Resistance Levels: 1.6222, 1.6235, 1.6249
Support Levels: 1.6195, 1.6181, 1.6167

USDJPY

HIGH: 84.077 | LOW: 83.828 | BID: 84.020 | ASK: 84.025 | CHANGE: 0.16% | TIME: 07 : 59:46

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

Upwards scenario: Medium term bias is positive for the pair. Risk of market appreciation is seen above the next resistance level at 84.09 (R1). Loss here would suggest next target at 84.24 (R2) and any further rise would then be targeting 84.39 (R3). Downwards scenario: On the short –term perspective we expect market decline. A Bearish signal would be created if the currency dropped below the next support level at 83.85 (S1). We suggest next targets in such scenario at 83.71 (S2) and 83.56 (S3).

Resistance Levels: 84.09, 84.24, 84.39
Support Levels: 83.85, 83.71, 83.56

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

alayoua · December 19, 2012, 2:41am

[B]Forex Technical & Market Analysis FXCC Dec 19 2012

Standard & Poor’s upgrades Greece from selective default to B- outlook stable

Two weeks later after credit agency Standar & Poor’s downgraded Greece to selective default, it has lifted again the rating to -B, two notches higher than expected back in December 05 when the initial downgrade took place, on the promise when the payback debt was finished the upgrade would come.

From today’s S&P statement: “The stable outlook balances our view of euro zone member states determination to support Greece’s euro zone membership and the Greek government’s commitment to a fiscal and structural adjustment against the economic and political challenges of doing so,” the agency said. “Even after the buyback, Greece’s end-2012 net debt-to-GDP ratio of over 160 percent of GDP remains onerous,” the credit rating company stated. “Nevertheless, subject to Greece meeting program conditions, euro zone member states have said they would significantly improve official lending terms to the government.”- FXCC Market Update 19-12-2012

Forex Economic Calendar
2012-12-19 09:00 GMT | E.M.U. IFO - Business Climate (Dec)
2012-12-19 09:30 GMT | United Kingdom. Bank of England Minutes
2012-12-19 13:30 GMT | United States. Building Permits (MoM) (Nov)
2012-12-19 21:45 GMT | Australia. Gross Domestic Product (QoQ) (Q3)

Forex News
2012-12-19 05:17 GMT | GBP/USD quiet below 1.6270, awaiting BoE Minutes
2012-12-19 04:31 GMT | EUR/AUD holds bullish scope to 1.2900 - Westpac
2012-12-19 03:35 GMT | EUR/USD set to target 50% Fibo - RBS
2012-12-19 02:01 GMT | NZD/USD breaking below 0.84 round

EURUSD :
HIGH 1.32558 LOW 1.32227 BID 1.32469 ASK 1.32475 CHANGE 0.14% TIME 08 : 21:58

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Instrument gained momentum, turning intraday bias to the positive side. Next resistance ahead is seen at 1.3258 (R1). Upwards penetration above it might drive market price towards to targets at 1.3277 (R2) and 1.3293 (R3). Downwards scenario: If the market successfully retests our support level at 1.3224 (S1), we expect further consolidation development with possible targets at 1.3207 (S2) and 1.3191 (S3). Market deviates from the uptrend formation and currently trades on the session low.

Resistance Levels: 1.3258, 1.3277, 1.3293
Support Levels: 1.3224, 1.3207, 1.3191

GBPUSD :
HIGH 1.62666 LOW 1.62456 BID 1.62647 ASK 1.62657 CHANGE 0.08% TIME 08 : 21:59

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

Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.6270 (R1). Immediate focus comes on 1.6283 (R2) and 1.6296 (R3) in such scenario. Downwards scenario: If the market participants manage to push the price below the support level at 1.6244 (S1) the instrument has an increased likelihood of failing towards to next targets at 1.6231 (S2) and 1.6218 (S3).

Resistance Levels: 1.6270, 1.6283, 1.6296
Support Levels: 1.6244, 1.6231, 1.6218

USDJPY :
HIGH 84.43 LOW 84.164 BID 84.344 ASK 84.349 CHANGE 0.16% TIME 08 : 22:00

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

Upwards scenario: Upside risk aversion is seen above the resistance at 84.44 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 84.55 (R2) and 84.66 (R3). Downwards scenario: Next immediate support locates at 84.21 (S1). Break here is required to enable bearish pressure towards to our targets at 84.10 (S2) and 83.98 (S3).

Resistance Levels: 84.44, 84.55, 84.66
Support Levels: 84.21, 84.10, 83.98

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

alayoua · December 20, 2012, 4:16am

[B]Forex Technical & Market Analysis FXCC Dec 20 2012

All Eyes On Bank of Japan Following Abe Win

Now that the Japanese lower house elections are over, trader focus is being placed on the Bank of Japan’s monetary policy decision – taking place over the next two days. This decision will be important one for the underlying currency, which continues to lose against the US dollar. Since the beginning of the election campaign, LDP leader Shinzo Abe has run on the platform for further monetary easing in boosting economic growth. As a result, central bank leaders have been under extreme pressure from Abe supporters in expanding monetary policy – currently totaling $1.1 trillion.

And, now that Abe has won, further accommodation is anticipated. Expectations are now for the Bank of Japan to leave interest rates near zero, while expanding monetary policy by another $1 billion. Such a move may ultimately jeopardize the independence of the Bank of Japan, as policymakers would be falling into line with the political agenda. Incidentally, traders will be looking for a change in the inflation target set by the central bank – potentially raising it to 2% from the current 1%. This is another Abe policy that was promised as the government attempts to alleviate the current deflationary environment.
Forex Technical & Market Analysis: December 20 2012

Forex Economic Calendar
2012-12-20 09:30 GMT | United Kingdom. Core Consumer Price Index (YoY) (Nov)
2012-12-20 09:30 GMT | United Kingdom. Consumer Price Index (YoY) (Nov)
2012-12-20 11:00 GMT | United Kingdom. BoE Quarterly Bulletin (Q4)
2012-12-20 23:50 GMT | Japan. Merchandise Trade Balance Total (Nov)

Forex News
2012-12-20 06:07 GMT | Will EUR/USD buyers had enough at 1.33 highs?
2012-12-20 05:29 GMT | GBP/USD set for reversal after daily pin?
2012-12-20 04:23 GMT | USD/JPY shakes both sides post-BoJ; holds above 84.00
2012-12-20 03:30 GMT | EUR/GBP undecided below 0.8150

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.3229 | LOW: 1.31883 | BID: 1.32167 | ASK: 1.32172 | CHANGE : -0.07% | TIME: 08:12:57

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: The initial uptrend formation might be resumed later on today. Possible intraday targets locate at 1.3252 (R2) and 1.3274 (R3), in case of successful penetration above the next resistance level at 1.3231 (R1). Downwards scenario: Market still had the chance to retest the key support level at 1.3188 (S1). Any further easing below it would then face supportive measures at 1.3166 (S2) and 1.3144 (S3) in potential.

Resistance Levels: 1.3231, 1.3252, 1.3274
Support Levels: 1.3188, 1.3166, 1.3144

GBPUSD

HIGH: 1.62614 | LOW: 1.62382 | BID: 1.62509 | ASK: 1.62517 | CHANGE: 0.04% | TIME: 08:12:59

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

Upwards scenario: The pair might keep general upside move intact after possible consolidation ahead. Appreciation above the next resistance at 1.6263 (R1) would enable next targets at 1.6276 (R2) and 1.6289 (R3) in potential. Downwards scenario: In regard to the descending movement, opportunities for bearish oriented traders are seen below the support level at 1.6238 (S1). Loss here would enable next targets at 1.6225 (S2) and 1.6211 (S3).

Resistance Levels: 1.6263, 1.6276, 1.6289
Support Levels: 1.6238, 1.6225, 1.6211

USDJPY

HIGH: 84.384 | LOW: 83.859 | BID: 83.983 | ASK: 83.986 | CHANGE: -0.49% | TIME: 08:13:00

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

Upwards scenario: Our next resistance level is placed at 84.23 (R1), break above it might extend gains towards to next targets at 84.34 (R2) and 84.47 (R3) in potential. Downwards scenario: Instrument has settled negative bias on the hourly timeframe and we expect gradual decline towards to our support levels. Next attractive support level locates at 83.84 (S1). Break here is required to put in focus lower target at 83.72 (S2) and 83.59 (S3).

Resistance Levels: 84.23, 84.34, 84.47
Support Levels: 83.84, 83.72, 83.59

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

alayoua · December 21, 2012, 5:09am

[B]Forex Technical & Market Analysis FXCC Dec 21 2012

Boehner’s ‘Plan B’ dead on arrival

News has just hit the newswires that there will be no vote on ‘Plan B’ this evening due to lack of Republican support. Speaker John Boehner has pulled his own bill, and his office has just released a statement that says, in part: “The House did not take up the tax measure today because it did not have sufficient support from our members to pass. Now it is up to the President to work with Senator Reid [(D)] on legislation to avert the fiscal cliff.” This is significant because the Speaker could not persuade his own Republican members to back his plan against President Obama’s offers and proposals on the matter. The US dollar is well bid across the board on this news, as market participants flee to safety.

The UK government’s monthly budget update for November is on offer in the European session ahead, expected to show a deficit of £14.1B on-month, which would widen the annual deficit to £76.0B. “If realized, this is a bit larger than the annual deficit for the year ending June of -£74.2B and highlight the ongoing challenge confronting the UK government in reducing its deficit,” says Rabobank International.
https://support.fxcc.com/email/technical/21122012/

Forex Economic Calendar
2012-12-21 09:30 GMT | United Kingdom. Gross Domestic Product (YoY) (Q3)
2012-12-21 13:30 GMT | Canada. Gross Domestic Product (YoY) (Oct)
2012-12-21 13:30 GMT | United States. Durable Goods Orders (Nov)
2012-12-21 14:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Dec)

Forex News
2012-12-21 05:40 GMT | GBP/USD support at 1.6230 next level to watch – V.Bednarik
2012-12-21 03:32 GMT | EUR/JPY stalls the decline at fresh session lows 111.62
2012-12-21 03:21 GMT | USD/JPY threatening to break below 83.80
2012-12-21 01:45 GMT | AUD/USD breaks below 1.0450 to fresh weekly lows

EURUSD :
HIGH 1.32522 LOW 1.31799 BID 1.32123 ASK 1.32127 CHANGE -0.24% TIME 08 : 20:45

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Further price appreciation might face next resistance level at 1.3227 (R1), break here is required to open way towards to targets at 1.3247 (R2) and 1.3267 (R3). Medium-term bias is still positive. Downwards scenario: Fresh low at 1.3180 (S1) acts now as important psychological support level. Decrease below it might enable bearish forces, targeting 1.3160 (S2) and 1.3141 (S3) in potential.

Resistance Levels: 1.3227, 1.3247, 1.3267
Support Levels: 1.3180, 1.3160, 1.3141

GBPUSD :
HIGH 1.62831 LOW 1.62407 BID 1.62539 ASK 1.62549 CHANGE -0.14% TIME 08 : 20:46

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

Upwards scenario: Technically, market sentiment remains bullish and we expect further instrument appreciation on the medium-term perspective. Pair is moving towards to our next resistance level at 1.6265 (R1). Clearance here would suggest next targets at 1.6279 (R2) and 1.6292 (R3). Downwards scenario: Possibility of further correction ahead is high on the shorter-term perspective. Below the support level at 1.6240 (S1) locates initial retracement targets at 1.6226 (S2) and 1.6214 (S3).

Resistance Levels: 1.6265, 1.6279, 1.6292
Support Levels: 1.6240, 1.6226, 1.6214

USDJPY :
HIGH 84.443 LOW 83.858 BID 84.119 ASK 84.123 CHANGE -0.31% TIME 08 : 20:47

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

Upwards scenario: USDJPY did not find priority in direction yet. Climb above the next resistance level at 84.23 (R1) might provide market with sufficient bullish power and attack next targets at 84.35 (R2) and 84.47 (R3) later on today. Downwards scenario: Next attractive level for the downside development locates at 83.83 (S1). Loss here might take the pair towards to eventual targets at 83.72 (S2) and 83.59 (S3).

Resistance Levels: 84.23, 84.35, 84.47
Support Levels: 83.83, 83.72, 83.59

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

alayoua · December 24, 2012, 3:20am

[B]Forex Technical & Market Analysis FXCC Dec 24 2012

Boehner’s ‘Plan B’ bill vote canceled

News has hit the newswires that there will be no vote on ‘Plan B’ this evening due to lack of Republican support. Speaker John Boehner has pulled his own bill, and his office has just released a statement that says, in part: “The House did not take up the tax measure today because it did not have sufficient support from our members to pass. Now it is up to the President to work with Senator Reid [(D)] on legislation to avert the fiscal cliff.” This is significant because the Speaker could not persuade his own Republican members to back his plan against President Obama’s offers and proposals on the matter. The US dollar is well bid across the board on this news, as market participants flee to safety.

The Republican-lead House of Representatives on Capitol Hill is moving ahead with a bill aimed at pressuring President Obama for a “fiscal cliff” deal. A second vote on taxes is expected later this evening; the House is in recess for now, but the Ways and Means staff is said to be on the floor ready for the tax debate to begin. In the end, even if House Speaker John Boehner’s “Plan B” were to pass, political analysts say that it stands no chance of being accepted by the Democratic-lead Senate or by the President. Time is quickly running out for US lawmakers to reach a deal to prevent a self-inflicted economic recession. At the time of writing, the U.S. dollar is finding buying interest across the board, likely underpinned by this sour mood surrounding the “fiscal cliff” developments, and on news that S&P has just downgraded Cyprus’ foreign long-term issuer credit rating to CCC+ from B. –
Forex Technical & Market Analysis: December 24 2012

Forex Economic Calendar
2012-12-24 02:00 GMT | New Zealand.M3 Money Supply (YoY) (Nov)
2012-12-24 11:00 GMT | Ireland. Retail Sales (MoM) (Nov)
2012-12-24 11:00 GMT | Ireland.Retail Sales (YoY) (Nov)
2012-12-24 23:50 GMT | Japan.Corporate Service Price (YoY) (Nov)

Forex News
2012-12-24 03:09 GMT | EUR/USD quiet below 1.32
2012-12-24 02:31 GMT | AUD/JPY below 88 +11% YTD
2012-12-24 02:00 GMT | USD/JPY looking for upside break of 84.60
2012-12-24 00:45 GMT | AUD/USD below 1.04 ahead of Christmas Eve

TECHNICAL ANALYSIS

EURUSD

HIGH: 1.31851 | LOW: 1.31712 | BID: 1.31815 | ASK: 1.31825 | CHANGE: 0% | TIME: 08:04:49

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

MARKET ANALYSIS – Intraday Analysis
Upwards scenario: Next on tap, resistance level at 1.3208 (R1). A break higher could open the door for an attack to next target at 1.3233 (R2) and final immediate resistance is seen at 1.3255 (R3). Downwards scenario: On the other hand, a dip below the support level at 1.3149 (S1) would clear the way towards to next targets at 1.3122 (S2) and 1.3097 (S3) in potential.

Resistance Levels: 1.3208, 1.3233, 1.3255
Support Levels: 1.3149, 1.3122, 1.3097

GBPUSD

HIGH: 1.61745 | LOW: 1.61424 | BID: 1.61733 | ASK: 1.61746 | CHANGE: 0.04% | TIME: 08:04:50

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

Upwards scenario: Market sentiment is clearly bearish and upside movement is limited to resistance level at 1.6194 (R1). Surpassing of this level might enable next target at 1.6215 (R2) and any further gain would then be limited by last resistance at 1.6235 (R3). Downwards scenario: Break below the support at 1.6148 (S1), would signal an end of retracement phase and open way for downtrend formation on the medium-term perspective. Possible targets could be found at 1.6129 (S2) and 1.6109 (S3).

Resistance Levels: 1.6194, 1.6215, 1.6235
Support Levels: 1.6148, 1.6129, 1.6109

USDJPY

HIGH: 84.494 | LOW: 84.322 | BID: 84.360 | ASK: 84.366 | CHANGE: 0.14% | TIME: 08:04:51

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

Upwards scenario: On the bigger picture trend still is pointing up. Targets at 84.57 (R2) and 84.69 (R3) might be attractive for the uptrend penetration if the price manages to break our next resistance level at 84.45 (R1). Downwards scenario: In regard to the descending movement, opportunities for bearish oriented traders are seen below the support level at 84.10 (S1). Loss here would enable next supports at 84.00 (S2) and 83.88 (S3).

Resistance Levels: 84.45, 84.57, 84.69
Support Levels: 84.10, 84.00, 83.88

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

alayoua · December 26, 2012, 4:45am

[B]Forex Technical & Market Analysis FXCC Dec 26 2012

Year In Preview: What Will 2013 Bring for the Euro?

Another year has gone by and a lot has happened in the last twelve months, even as the European financial crisis continues to persist. But, taking a look at the next twelve months, and it’s easy to see that things are going to be that much calmer for the single currency in 2013. Here are some things to consider when January 1st rolls around. Shift in ECB Policy With European Union growth remaining lower for most of 2012, the European Central Bank has refrained from cutting rates amid persistently higher inflation. Although not rampant, the pace of consumer prices has risen by 2.2-2.5% annually in 2012 – a cause for at least some concern and a stay on rates. However, with inflation set to decline once again on slower growth, ECB policymakers may be at a favorable point in time to execute a rate cut of 25 basis points. The notion is being supported by growth forecasts by the central bank that pit EU contraction at about 0.3% for all of next year.

The rate cut would be bearish for the Euro in the short term, but at least support the chance for growth in the wider EU region as periphery economies are expected to contribute handsomely to the decline in overall expansion.
Forex Technical & Market Analysis: December 26 2012

Forex Economic Calendar
2012-12-26 13:55 GMT | USA.Redbook index (YoY)
2012-12-26 13:55 GMT | USA.Redbook index (MoM)
2012-12-26 14:00 GMT | USA.S&P/Case-Shiller Home Price Indices (YoY) (Oct)
2012-12-26 15:00 GMT | USA.Richmond Fed Manufacturing Index (Dec)

Forex News
2012-12-24 19:27 GMT | EUR/USD ends the day unchanged
2012-12-24 18:12 GMT | GBP/USD to end the year around 1.63 - Rabobank
2012-12-24 15:21 GMT | EUR/JPY hits 112.00 as investors price in comments from Japan
2012-12-24 15:06 GMT | AUD/USD trading near calculated support at 1.0385/87

EURUSD :
HIGH 1.32332 LOW 1.31712 BID 1.31783 ASK 1.31787 CHANGE 0% TIME 08 : 23:45

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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Next resistance level at 1.3217 (R1) locates above the local peak. Break here is required to enable next target at 1.3231 (R2) and any further rise would then be limited to 1.3246 (R3). Downwards scenario: Loss of next support at 1.3162 (S1) might drive market price towards to the next targets at 1.3148 (S2) and 1.3134 (S3).

Resistance Levels: 1.3217, 1.3231, 1.3246
Support Levels: 1.3162, 1.3148, 1.3134

GBPUSD :
HIGH 1.62061 LOW 1.61009 BID 1.61202 ASK 1.61212 CHANGE 0% TIME 08 : 23:46

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

Upwards scenario: Any upwards formation today is limited to resistive measures at 1.6149 (R1). A break above it would suggest next target at 1.6165 (R2). If the price holds its momentum we can expect a further rise towards to 1.6177 (R3). Downwards scenario: Further decline is possible below the next support level at 1.6109 (S1). Expected targets locate at 1.6097 (S2) and XX1.6084 (S3) in potential.

Resistance Levels: 1.6149, 1.6165, 1.6177
Support Levels: 1.6109, 1.6097, 1.6084

USDJPY :
HIGH 84.865 LOW 84.322 BID 84.785 ASK 84.793 CHANGE 0% TIME 08 : 23:48

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

Upwards scenario: The short- term tendency is bullish as both moving averages are pointing up. Next resistance level is seen at 84.89 (R1), clearance here would open way for strengthening towards to next targets at 85.15 (R2) and 85.36 (R3). Downwards scenario: Retracement development is limited to the next support level at 84.61 (S1). Clearance here would open road towards to possible targets, located at 84.45 (S2) and 84.33 (S3).

Resistance Levels: 84.89, 85.15, 85.36
Support Levels: 84.61, 84.45, 84.33

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