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Forex Technical & Market Analysis FXCC

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Forex Technical & Market Analysis FXCC May 20 2013

Post  forexlionz on Mon May 20, 2013 1:23 pm

Forex Technical & Market Analysis FXCC May 20 2013

Bearish developments on EUR/USD charts continue to take shape

It was a rough week for the EUR/USD, as continued speculation of the Fed tapering QE purchases and worries of economic growth in Europe continued to put pressure on the pair throughout the week. When all was said and done, the pair finished the week down 0.90% to close at 1.2838. Market participants will be focusing on a number reports this week including testimony from Fed Chairman Bernanke, as well as speeches by some regional Fed officials. According to Greg Gibbs, FX Trading Strategist at RBS,“the market will be looking closely at the Fed commentary this week. Bernanke's testimony to Congress on Wednesday is the main focal point, but there are important speeches by doves Evans and Dudley before then. As key supporters of maintaining the current $85bn pace of asset purchases, any shift in their tone will be seen as evidence that the consensus and Bernanke's views have shifted.”

He went on to add, “the commentary by Fed Watcher Hilsenrath just over a week ago and by a Fed dove Williams on Thursday last week has got the market thinking about potential for QE tapering in the summer, which puts into play the 19 June, 31 July or 18 September meetings. The June meeting includes a Bernanke press conference and staff projects, as does the September meeting.”
http://blog.fxcc.com/forex-technical-market-analysis-may-20-2013/

FOREX ECONOMIC CALENDAR
2013-05-20 12:30 GMT | US.Chicago Fed National Activity Index (Apr)
2013-05-20 17:00 GMT | US.Fed's Evans Speech
2013-05-20 19:00 GMT | AR.Unemployment Rate (QoQ) (Q1)
2013-05-20 21:45 GMT | NZ.Visitor Arrivals (YoY) (Apr)


FOREX NEWS
2013-05-20 02:45 GMT | Sterling bulls continue to defend the 1.5150 level
2013-05-20 02:32 GMT | AUD/USD higher above 0.9750 on USD weakness
2013-05-20 00:27 GMT | EUR/JPY buyers step in again at 131.00, support remains firm
2013-05-19 23:11 GMT | EUR/USD capped below 1.2850

----------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Bullish market sentiment is slightly improved yesterday however further appreciation needs to clear barrier at 1.2855 (R1) to enable our interim target at 1.2882 (R2) and then any further gains would be limited to last resistance at 1.2908 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.2818 (S1), we expect to see further market decline towards to our next target at 1.2800 (S2) and then next stop could be found at 1.2780 (S3) mark.

Resistance Levels: 1.2855, 1.2882, 1.2908
Support Levels: 1.2818, 1.2800, 1.2780

-------------------------------
Forex Technical Analysis GBPUSD :



Upwards scenario: Next immediate resistive barrier is seen at 1.5209 (R1). If instrument gains momentum on the upside and manage to overcome it we would focus on the intraday targets at 1.5241 (R2) and 1.5276 (R3) in potential. Downwards scenario: Any downside extension is limited now to the next support level at 1.5163 (S1). Break here is required to open a route towards to next target at 1.5141 (S2) and then any further easing would be targeting final support at 1.5117 (S3).

Resistance Levels: 1.5209, 1.5241, 1.5276
Support Levels: 1.5163, 1.5141, 1.5117

------------------------
Forex Technical Analysis USDJPY :



Upwards scenario: Possible upwards formation is limited now to resistive measure at 102.87 (R1). A break above it would suggest next intraday target at 103.29 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 103.75 (R3). Downwards scenario: Pair looks likely to test our supportive means today. Devaluation below the support at 102.62 (S1) would initiate bearish pressure. On the way our next interim support at 102.39 (S2) en route to final target at 102.07 (S3).

Resistance Levels: 102.87, 103.29, 103.75
Support Levels: 102.62, 102.39, 102.07

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

forexlionz

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Points : 142
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Forex Technical & Market Analysis FXCC May 21 2013

Post  forexlionz on Tue May 21, 2013 2:13 pm

Forex Technical & Market Analysis FXCC May 21 2013

Fed-Speak to dominate EUR/USD trading in coming days

The EUR/USD was able to claw back a small portion of its losses suffered last week, finishing the day up 64 pips at 1.2884. Economic news was light on the session with European markets closed and no releases out of the US. Market participants will be expecting volatility to really pick up later in the week when we see Fed Chairman Bernanke’s testimony to Congress, the release of the most recent FOMC minutes, and a number of other regional Fed speakers on the wires. Given the recent market buzz of the prospects of Fed tapering QE, the next few days could help set a more established trend for the pair as we near month end.

According to Marc Chandler, Head Currency Strategist at BBH, “in the US, the FOMC minutes from the April 30/May 1 meeting will be released on Wednesday. Markets will be parsing them very thoroughly for any clues about QE tapering. Those minutes will be sandwiched between another heavy slate of Fed speakers including Bullard and Dudley on Tuesday, Bernanke testimony on Wednesday, and Bullard again on Thursday. Bernanke’s testimony will be the most important, of course. While we expect the key Fed officials to signal steady as she goes with regards to QE, we acknowledge that markets could see some turbulence.” Other analysts also mention to keep a focus on Europe, as we will see a number of important PMI releases from the region later in the week as well as speeches from important European officials including ECB President Draghi.
http://blog.fxcc.com/forex-technical-market-analysis-may-21-2013/

FOREX ECONOMIC CALENDAR :
2013-05-21 06:00 GMT | Germany. Producer Price Index (YoY) (Apr)
2013-05-21 08:30 GMT | UK. Consumer Price Index (YoY) (Apr)
2013-05-21 14:00 GMT | USA. Treasury Sec Lew Speech
2013-05-21 23:50 GMT | Japan. Merchandise Trade Balance Total (Apr)

FOREX NEWS :
2013-05-21 04:36 GMT | Fed-Speak to dominate EUR/USD trading in coming days
2013-05-21 04:26 GMT | USD/JPY, break through 103.5 allows 105/105.50 – JPMorgan
2013-05-21 03:19 GMT | EUR/JPY continues to eye upper end of range near 133.00
2013-05-21 01:48 GMT | AUD/USD consolidates below 0.9800 after RBA minutes release

---------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.2905 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.2930 (R2) and 1.2955 (R3). Downwards scenario: On the other hand, possible downtrend development may encounter supportive measure at 1.2860 (S1). Penetration through this level would targeting then supportive means at 1.2836 (S2) and 1.2811 (S3) later on today.

Resistance Levels: 1.2905, 1.2930, 1.2955
Support Levels: 1.2860, 1.2836, 1.2811


----------------------------
Forex Technical Analysis GBPUSD :



Upwards scenario: While both moving averages are pointing down, medium-term technical outlook would be positive. Key resistance level lie at 1.5281 (R1), above here opens a route towards to our initial targets at 1.5308 (R2) and 1.5336 (R3). Downwards scenario: Local low at 1.5221 (S1) offers next immediate support barrier. Successful penetration below it would open path towards to next intraday targets at 1.5194 (S2) and 1.5165 (S3).

Resistance Levels: 1.5281, 1.5308, 1.5336
Support Levels: 1.5221, 1.5194, 1.5165

---------------------------
Forex Technical Analysis USDJPY :



Upwards scenario: On the upside resistive structure at 102.77 (R1) prevents further gains. Clearance here is required to open route towards to next target at 103.10 (R2) and then final target could be triggered at 103.43 (R3). Downwards scenario: On the other hand, pair keeps the consolidation pattern intact. We see potential to positively retest supportive barrier at 102.19 (S1). Depreciation below it would open route towards to initial targets at 101.86 (S2) and 101.52 (S3) in potential.

Resistance Levels: 102.77, 103.10, 103.43
Support Levels: 102.19, 101.86, 101.52

Source: FX Central Clearing Ltd,( ECN FX Broker Platform | Forex Account | Currency Converter | FXCC )

forexlionz

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Points : 142
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Forex Technical & Market Analysis FXCC May 22 2013

Post  forexlionz on Wed May 22, 2013 1:51 pm

Forex Technical & Market Analysis FXCC May 22 2013

Bernanke testimony, FOMC minutes, & European data to heighten EUR/USD volatility

The EUR/USD finished the day moderately higher, closing up 25 pips at 1.2905 ahead of what is sure to be a volatile session with Fed Chairman Bernanke set to testify in front of congress at 14:00GMT. Furthermore, we will also see the release of the most recent FOMC minutes at 18:00GMT. According to Sean callow of Westpac,“The US calendar is dominated by Fed chairman Bernanke’s testimony on “The Economic Outlook” to the Joint Economic Committee of Congress (10am NY time). He will deliver a prepared text then take numerous questions from both friendly and hostile lawmakers. Volatility over the course of his appearance seems assured, as markets try to quickly decide whether Bernanke is trying to dampen talk of reducing QE some time soon, is affirming such a view or remaining non-committal. USD should gain in the latter two scenarios but we still expect the first outcome – Bernanke arguing that it is too soon to be confident that the economy is recovering sustainably.”

Other analysts are pointing towards European economic data as the additional catalysts for the EUR/USD which may help to break the recent range bound activity. Market participants should be aware that later in the week will see a number of European PMI figured which could also heighten volatility. http://blog.fxcc.com/forex-technical-market-analysis-may-22-2013/


FOREX ECONOMIC CALENDAR :
2013-05-22 12:30 GMT | Canada.Retail Sales (MoM) (Mar)
2013-05-22 14:00 GMT | USA.Existing Home Sales (MoM) (Apr)
2013-05-22 14:00 GMT | USA.Fed's Bernanke testifies
2013-05-22 18:00 GMT | USA.FOMC Minutes

FOREX NEWS :
2013-05-22 03:26 GMT | USD/JPY steady near 102.50 after BoJ Monetary Policy release
2013-05-22 02:43 GMT | AUD/USD still around 0.98 despite worsening consumer confidence in | Australia
2013-05-22 02:41 GMT | GBP/JPY – Will buyers have enough force to take out 156.80 resistance?
2013-05-22 00:22 GMT | EUR/USD working its way higher thru 1.2920/40 supply

-----------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Instrument stabilized after the gains provided yesterday. Penetration above the resistive structure at 1.2926 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.2940 (R2) and 1.2955 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 1.2905 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 1.2889 (S2) and 1.2877 (S3) later on.

Resistance Levels: 1.2926, 1.2940, 1.2955
Support Levels: 1.2905, 1.2889, 1.2877

----------------------
Forex Technical Analysis GBPUSD :



Upwards scenario: Next actual resistance level is seen at 1.5160 (R1). If the market manages to surge higher, our focus would returned to the next target at 1.5179 (R2) and further recovery action could be exhausted at 1.5197 (R3) intraday. Downwards scenario: Price regress below the support level at 1.5128 (S1) would increase likelihood of failing towards to our key supportive barrier at 1.5110 (S2) and any further market decline would then be targeting final support for today at 1.5092 (S3).

Resistance Levels: 1.5160, 1.5179, 1.5197
Support Levels: 1.5128, 1.5110, 1.5092

---------------------
Forex Technical Analysis USDJPY :



Upwards scenario: Any upside actions looks limited to resistance level at 102.64 (R1). Surpassing of this level might enable next target at 102.73 (R2) and any further gains would then be targeting final mark at 102.86 (R3) in potential. Downwards scenario: Our next support level at 102.44 (S1) limits possible recovery attempts for now. Break here is required to establish negative market sentiment and enable lower target at 102.35 (S2) en route to final target at 102.25 (S3).

Resistance Levels: 102.64, 102.73, 102.86
Support Levels: 102.44, 102.35, 102.25

Source: FX Central Clearing Ltd,( Forex Training | Currency Converter | ECN Forex Trading Accounts | FXCC )

forexlionz

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Forex Technical & Market Analysis FXCC May 23 2013

Post  forexlionz on Thu May 23, 2013 1:55 pm

Forex Technical & Market Analysis FXCC May 23 2013

FOMC minutes show members open to tapering QE

The minutes from the April 30 and May 1 FOMC meeting showed that "a number" of officials expressed willingness to taper the bond buying program as early as the June meeting "if the economic information received by that time showed evidence of sufficiently strong and sustained growth". However, according to the minutes, views differed about what evidence would be necessary and the likelihood of that outcome. One Fed official wanted to stop the bond purchases immediately, while another wanted to increase the size of the program. Despite the discrepancies, most members emphasized importance of being prepared to adjust purchases either up or down.

The minutes also revealed the Fed started a review of their exit strategy principles last released to the public in 2011. The broad principles appeared generally still valid, but the bank will probably need greater flexibility regarding the details of implementing policy normalization. The greenback surged against majority of its person Wednesday after Fed Chairman Ben Bernanke hinted at possibilities of the central bank slowing its bond purchases. Initially, dollar briefly dropped across the board after Bernanke said monetary stimulus is helping the U.S.economy recovery. http://blog.fxcc.com/forex-technical-market-analysis-may-23-2013/


FOREX ECONOMIC CALENDAR
2013-05-23 07:30 GMT ECB President Draghi's Speech senectus
2013-05-23 08:30 GMT Gross Domestic Product (YoY) (Q1)
2013-05-23 12:30 GMT Initial Jobless Claims (May 17)
2013-05-23 14:00 GMT New Home Sales (MoM) (Apr)

FOREX NEWS
2013-05-23 04:13 GMT More volatility expected with EU PMI on tap
2013-05-23 03:32 GMT USD/JPY turns below 103.5 on bad China data
2013-05-23 03:09 GMT GBP/JPY edging lower towards support at 154.50
2013-05-23 03:01 GMT AUD/NZD glued to 1.20 despite Aussie disaster

------------------------
Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: EURUSD broke all supportive measure yesterday and currently stabilized near its lows. Appreciation above the resistive barrier at 1.2864 (R1) is compulsory to commence positive market structure and validate next intraday targets at 1.2887 (R2) and 1.2909 (R3). Downwards scenario: However our both moving averages are pointing down and if the price manages to break our key support level at 1.2824 (S1) we would expect further depreciation towards to our next targets, located at 1.2803 (S2) and 1.2781 (S3).

Resistance Levels: 1.2864, 1.2887, 1.2909
Support Levels: 1.2824, 1.2803, 1.2781

-----------------------
Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Prolonged movement yesterday on the downside determined negative bias on the short-term perspective. Though possible penetration above the resistance level at 1.0573 (R1) might keep bulls in play, targeting next resistances at 1.5109 (R2) and 1.5145 (R3). Downwards scenario: The downside direction remains favored according to the technical indicators. Our key support measure lies at 1.5010 (S1). Decline below it would enable next targets located at 1.4978 (S2) and 1.4944 (S3).

Resistance Levels: 1.5073, 1.5109, 1.5145
Support Levels: 1.5010, 1.4978, 1.4944

--------------------------
Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Price accelerates on the downside recently and likelihood of closing on the positive side today is low. However price appreciation the next resistance level at 102.25 (R1) would suggest next initial targets at 102.55 (R2) and 102.84 (R3). Downwards scenario: Next barrier on the way is seen at 101.76 (S1). Break here would open way towards to next intraday target at 101.48 (S2) and then final aim locates at 101.19 (S3).

Resistance Levels: 102.25, 102.55, 102.84
Support Levels: 101.76, 101.48, 101.19

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

forexlionz

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Points : 142
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Forex Technical & Market Analysis FXCC May 24 2013

Post  forexlionz on Fri May 24, 2013 1:19 pm

Forex Technical & Market Analysis FXCC May 24 2013

Will German GDP/IFO be the catalyst to take EUR/USD back above 1.3000?

The EUR/USD finished the session sharply higher, mainly benefiting from a better than expected European PMI data print. It will be another busy upcoming economic session in Europe, with German GDP due out at 6:00GMT, followed by German IFO at 8:00GMT. One has to ask, if the print comes in better than expected, will it be enough to take the pair back above the critical resistance level of 1.3000(the 20dma)? According to analysts at Rabobank, “there was a modestly firmer tone, maybe a ‘less downbeat tone’ is a better description because despite improvement they remain sub-50, to the suite of eurozone PMIs. In Germany, the Manufacturing PMI gained to 49.0, up from April’s 48.1 and the Services PMI ticked up to 49.8 from 49.6. France’s Manufacturing PMI increased to 45.5 from 44.4 and the Services PMI held steady at 44.3. For the eurozone as a whole, the Manufacturing PMI gained to 47.8 from April’s 46.7.”

They went on to add,“there’s no particularly strong message in these data but they are consistent with our thinking – and that of the ECB – that Europe’s economy will show some improvement as this year unfolds. Calmer financial market conditions should pay a positive dividend to the real economy over time.” The ‘risk on’ vs. ‘risk off’ sentiment of the equity market will also be something to keep in mind. It was interesting to see the EUR/USD go well bid on a day when the Nikkei dropped 7%. However, its hard to imagine this correlation continuing should US equities start a serious correction. Furthermore, some analysts believe that just because the recent EU PMI data came in better than expected, EU officials will not deviate from the dovish rhetoric which has been plentiful in recent weeks. https://support.fxcc.com/email/technical/24052013/

FOREX ECONOMIC CALENDAR :
2013-05-24 06:00 GMT | Germany. Gfk Consumer Confidence Survey (Jun)
2013-05-24 08:00 GMT | Germany. IFO - Business Climate (May)
2013-05-24 10:00 GMT | Germany. German Buba President Weidmann speech
2013-05-24 12:30 GMT | USA. Durable Goods Orders (Apr)

FOREX NEWS :
2013-05-24 04:14 GMT | USD/JPY breaks below 102 like hot butter once again
2013-05-24 04:03 GMT | AUD/USD gets pounded down to 0.9650
2013-05-24 03:21 GMT | Sterling holds support at previous lows, continues to find aggressive bids near 1.5000
2013-05-24 02:13 GMT | GBP/JPY closes below 20dma for first time since April 5th


EURUSD :
HIGH 1.2937 LOW 1.29041 BID 1.29290 ASK 1.29294 CHANGE -0.03% TIME 08 : 17:53



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD consolidates prior macroeconomic news announcement. Our next resistive barrier is seen at 1.2945 (R1). Break here is required to drive market price towards to next visible targets at 1.2962 (R2) and 1.2978 (R3) later on today. Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.2903 (S1). Possible price devaluation would suggest next initial targets at 1.2886 (S2) and then 1.2867 (S3).

Resistance Levels: 1.2945, 1.2962, 1.2978
Support Levels: 1.2903, 1.2886, 1.2867

----------------------
GBPUSD :
HIGH 1.51139 LOW 1.50639 BID 1.51015 ASK 1.51026 CHANGE -0.02% TIME 08 : 17:53



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

Upwards scenario: GBPUSD retraced after the initial downtrend formation. Next resistive barrier on the way is mark at 1.5119 (R1). Loss here is required to push the price towards to our targets at 1.5147 (R2) and 1.5177 (R3) later on today. Downwards scenario: Our next support level lies at 1.5062 (S1). Clearance here might resume downtrend expansion. Our intraday target locates at 1.5031 (S2) and 1.5001 (S3).

Resistance Levels: 1.5119, 1.5147, 1.5177
Support Levels: 1.5062, 1.5031, 1.5001

---------------------
USDJPY :
HIGH 102.585 LOW 101.084 BID 101.480 ASK 101.482 CHANGE -0.52% TIME 08 : 17:54



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

Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow from Japan, though a break of our resistance at 102.00 (R1) would suggest next targets at 102.35 (R2) and 102.70 (R3). Downwards scenario: A short-term technical structure might turn into negative side below the support level at 101.07 (S1). Possible price depreciation would then be targeting support at 100.76 (S2) en route to final target at 100.43 (S3).

Resistance Levels: 102.00, 102.35, 102.70
Support Levels: 101.07, 100.76, 100.43

Source: FX Central Clearing Ltd,( Free Forex Demo Account | Forex Software | Forex Trading Blog | FXCC )

forexlionz

Posts : 140
Points : 142
Join date : 2013-04-04

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Forex Technical & Market Analysis FXCC May 27 2013

Post  forexlionz on Mon May 27, 2013 1:15 pm

Forex Technical & Market Analysis FXCC May 27 2013

EU gives the go-ahead to Spanish bank restructuring plan

The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaquín Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017.

Joaquín Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017.
http://blog.fxcc.com/forex-technical-market-analysis-may-27-2013/


FOREX ECONOMIC CALENDAR :
2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov)
2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech
2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3)
2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct)

FOREX NEWS :
2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo
2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020
2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism
2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 – Scotiabank

Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).

Resistance Levels: 1.2962, 1.2980, 1.2996
Support Levels: 1.2939, 1.2921, 1.2903


Forex Technical Analysis GBPUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).

Resistance Levels: 1.6021, 1.6031, 1.6042
Support Levels: 1.6005, 1.5994, 1.5983


Forex Technical Analysis USDJPY :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).

Resistance Levels: 82.22, 82.30, 82.39
Support Levels: 82.00, 81.91, 81.82

Source: FX Central Clearing Ltd,( Currency Converter | Top ECN Forex Broker | Forex Demo Account | FXCC )

forexlionz

Posts : 140
Points : 142
Join date : 2013-04-04

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Forex Technical & Market Analysis FXCC May 28 2013

Post  forexlionz on Tue May 28, 2013 1:16 pm

Forex Technical & Market Analysis FXCC May 28 2013

As last week’s volatility in Japanese markets demonstrates central banks do not have it all their own way. Unfortunately for Japan the risk remains that policy makers spur higher yields without accompanying growth, an outcome that would be highly undesirable, especially if it hits economic activity. Equity markets and risk assets in general came under pressure and safe havens found long lost bids, with core bond yields moving lower and JPY and CHF strengthening. The heightened volatility in markets was also partly triggered by concerns about the timing of the tapering off of Fed asset purchases, with Fed Chairman Bernanke setting the cat amongst the pigeons by with commenting about the possibility of reducing asset purchases over the next few meetings. Additionally weaker than forecast Chinese manufacturing confidence data came as another blow to markets. While the market reaction looked a tad overdone in it is notable that the dichotomy between growth and equity market performance has widened over recent weeks.

This week is likely to begin on a calmer note, with holidays in the US and UK today. Data releases in the US will remain encouraging , with May consumer confidence likely to move higher although US Q1 GDP is likely to be revised slightly lower to 2.4% due an inventories hit. In Europe, while the trajectory of recovery is starting from a much lower base there will be some improvement in business confidence in May while inflation will be well contained at 1.3% YoY in May, an outcome that will maintain room for more European Central Bank policy easing. In Japan a sixth straight negative CPI reading will highlight jus how difficult the job is for the Bank of Japan to meet its inflation target. The JPY was a major beneficiary of last week’s volatility helped by short covering as speculative positioning in the currency reached its lowest level since July 2007. A calmer tone to markets ought to ensure that JPY upside will be limited and USD buyers are likely to emerge just below the USD/JPY 100 level. In contrast the EUR has been surprisingly well behaved despite the fact that speculative EUR positioning has also dropped sharply over recent weeks. While the overall trend is lower EUR/USD will find some support on any dip to around 1.2795 this week.
http://blog.fxcc.com/forex-technical-market-analysis-may-28-2013/

FOREX ECONOMIC CALENDAR
2013-05-28 06:00 GMT Switzerland. Trade Balance (Apr)
2013-05-28 07:15 GMT Switzerland. Employment Level (QoQ)
2013-05-28 14:00 GMT USA. Consumer Confidence (May)
2013-05-28 23:50 GMT Japan. Retail Trade (YoY) (Apr)

FOREX NEWS
2013-05-28 05:22 GMT USD/JPY offered at 102 figure
2013-05-28 04:23 GMT Bearish chart pattern developments still favor further downside in EUR/USD
2013-05-28 04:17 GMT AUD/USD erased all loses, back above 0.9630
2013-05-28 03:31 GMT GBP/USD chopping around 1.5100 in Asia trade

Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Recently pair gained momentum on the downside however appreciation above the next resistance at 1.2937 (R1) might be a good catalyst for a recovery action towards to next expected targets at 1.2951 (R2) and 1.2965 (R3). Downwards scenario: Any downside penetration is limited now to the initial support level at 1.2883 (S1). A breach of which would open a route towards to next target at 1.2870 (S2) and potentially could expose our final support at 1.2856 (S3) later on today.

Resistance Levels: 1.2937, 1.2951, 1.2965
Support Levels: 1.2883, 1.2870, 1.2856

Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: New portion of macroeconomic data releases might increase volatility later on today. Our resistances at 1.5139 (R2) and 1.5162 (R3) could be exposed in case of possible upwards penetration. But first, price is required to overcome our key resistive barrier at 1.5117 (R1). Downwards scenario: Downside development remains for now limited to the next technical mark at 1.5085 (S1), clearance here would create a signal of possible market weakening towards to next expected targets at 1.5063 (S2) and 1.5040 (S3).

Resistance Levels: 1.5117, 1.5139, 1.5162
Support Levels: 1.5085, 1.5063, 1.5040

Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: USDJPY upwards penetration is approaching our next resistive barrier at 102.14 (R1). Surpassing of this level may initiate bullish pressure towards to next visible targets at 102.41 (R2) and 102.68 (R3). Downwards scenario: Risk of possible corrective action is seen below the support at 101.65 (S1). With penetration here opens a route towards to our immediate support level at 101.39 (S2) and any further price cut would then be limited to final target at 101.10 (S3).

Resistance Levels: 102.14, 102.41, 102.68
Support Levels: 101.65, 101.39, 101.10

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

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Forex Technical & Market Analysis FXCC May 29 2013

Post  forexlionz on Wed May 29, 2013 1:45 pm

[center]Forex Technical & Market Analysis FXCC May 29 2013

EUR Succumbs to Rise in U.S. Yields

Demand for U.S. dollars kept pressure on the euro and all major currencies throughout the North American session. Between the recovery in U.S. stocks and the surge in U.S. yields, the dollar is one of the most coveted currencies. Even though we haven’t seen a major pickup in foreign demand for U.S. dollars, particularly from Japan, the longer U.S. yields hold above 2% (10 year yields are at 2.15%), the more tempting it will be for foreign investors. The lack of U.S. data at the front of the week means the lack of threat to the dollar rally. As long as the good news continues to flow in, the dollar will remain in demand. How well the greenback performs against various currencies will of course depend on how economic data from those countries fare. We have seen some recent improvements in Eurozone data that reduces the chance of additional easing by the European Central Bank. German labor market numbers are scheduled for release tomorrow and an upside surprise will keep the EUR above 1.28.

The main driver of EUR/USD weakness has been the divergence between U.S. and Eurozone data – one was improving as the other was deteriorating. If we start to see improvements in the Eurozone economy, then the dynamics affecting the euro will start to change to benefit of the currency. Unfortunately based on the latest PMI numbers, there’s a risk of a downside surprise. According to the report, staffing levels fell for the first time since January with job shedding seen in both the manufacturing and service sectors. If unemployment rolls climb in the month of May, the EUR/USD could extend its losses but even then, the losses could be contained to 1.28, a level that has held for the past month. We probably need to see back to back weakness in Eurozone data (German unemployment and retail sales) for 1.28 to be broken.
http://blog.fxcc.com/forex-technical-market-analysis-may-29-2013/

FOREX ECONOMIC CALENDAR
2013-05-29 07:55 GMT Germany. Unemployment Change (May)
2013-05-29 12:00 GMT Germany. Consumer Price Index (YoY) (May)
2013-05-29 14:00 GMT Canada. BoC Interest Rate Decision
2013-05-29 23:50 GMT Japan. Foreign bond investment

FOREX NEWS
2013-05-29 04:41 GMT Sterling hovering above critical support at 1.5000
2013-05-29 04:41 GMT USD unchanged; IMF lowers China GDP forecast
2013-05-29 04:16 GMT EUR/USD technical picture continues to sour, more declines to come?
2013-05-29 03:37 GMT AUD/JPY continues to find firm bids near 97.00

Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Our medium-term outlook is shifted to the negative side after the losses provided yesterday, however market appreciation is possible above the next resistance at 1.2880 (R1). Loss here would suggest next intraday targets at 1.2899 (R2) and 1.2917 (R3). Downwards scenario: Fresh low at 1.2840 (S1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 1.2822 (S2). Final support for today locates at 1.2803 (S3).

Resistance Levels: 1.2880, 1.2899, 1.2917
Support Levels: 1.2840, 1.2822, 1.2803

Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Our attention on the upside is put to the next resistive barrier at 1.5052 (R1). Break here is required to stimulate bullish forces to expose initial targets at 1.5078 (R2) and 1.5104 (R3) later on today. Downwards scenario: On the other hand, break below the support at 1.5014 (S1) is required to enable further market decline. Our next supportive measures locates at 1.4990 (S2) and 1.4967 (S3).

Resistance Levels: 1.5052, 1.5078, 1.5104
Support Levels: 1.5014, 1.4990, 1.4967

Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 102.53 (R1) would enable bullish forces and might drive market price towards to our initial targets at 102.70 (R2) and 102.89 (R3). Downwards scenario: On the other hand, prolonged movement below the initial support level at 102.01 (S1) might trigger protective orders execution and drive market price towards to supportive means at 101.82 (S2) and 101.61 (S3).

Resistance Levels: 102.53, 102.70, 102.89
Support Levels: 102.01, 101.82, 101.61

Source: FX Central Clearing Ltd,( Forex Trading Education | ECN Trading Forex Account | FXCC )

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Forex Technical & Market Analysis FXCC May 30 2013

Post  forexlionz on Thu May 30, 2013 2:19 pm

Forex Technical & Market Analysis FXCC May 30 2013

OECD: Global economy is moving forward at multiple speeds

In its biannual Economic Outlook report, published on Wednesday, the Organization for Economic Cooperation and Development reduced the global growth outlook to 3.1% from the previous estimate of 3.4%. It expects the US and the Japanese economies to improve this year, suggesting at the same time that the Eurozone will continue to lag which might have “negative implications for the global economy."

The OECD cut the Eurozone growth forecast to -0.6% from -0.1% estimated in November 2012, warning that "activity is still falling, reflecting ongoing fiscal consolidation, weak confidence and tight credit conditions, especially in the periphery." The Eurozone economy should rebound to 1.1% in 2014. The OECD also urged the ECB to seriously consider implementing QE and introducing negative deposit rates in order to stimulate recovery in the area. China, which already saw its growth outlook reduced on Tuesday by the IMF, is expected to grow by 7.8% this year, down from a previous estimate of 8.5%. The organization was more upbeat about the US, which is projected to grow by 1.9% in 2013 and by 2.8% in 2014. Japan's growth forecast was hiked to 1.6% from 0.7%, with the prospect of a 1.4% gain next year, owing to the BoJ's implementation of fiscal and monetary stimulus programs.
http://blog.fxcc.com/forex-technical-market-analysis-may-30-2013/

FOREX ECONOMIC CALENDAR
2013-05-30 06:00 GMT UK. Nationwide Housing Prices n.s.a (YoY) (May)
2013-05-30 12:30 GMT USA. Gross Domestic Product Price Index
2013-05-30 14:30 GMT USA. Pending Home Sales (YoY) (Apr)
2013-05-30 23:30 GMT Japan. National Consumer Price Index (YoY) (Apr)

FOREX NEWS
2013-05-30 04:39 GMT USD eases to key level at 83.50 ahead of US GDP
2013-05-30 03:11 GMT GBP/USD – Bullish engulfing candle to spur further advances?
2013-05-30 02:29 GMT EUR/USD edging towards resistance at 1.3000
2013-05-30 01:50 GMT Aussie edging higher towards resistance at 0.9700

Forex Technical Analysis EURUSD
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Recent upside penetration is limited now to the key resistive barrier at 1.2977 (R1). Appreciation above this mark might likely push the pair toward to next targets at 1.2991 (R2) and 1.3006 (R3) in potential. Downwards scenario: Possible bull back on the hourly chart might face next hurdle at 1.2933 (S1). Break here is required to open road towards to our next retracement target at 1.2919 (S2) en route to final aim at 1.2902 (S3).

Resistance Levels: 1.2977, 1.2991, 1.3006
Support Levels: 1.2933, 1.2919, 1.2902

Forex Technical Analysis GBPUSD
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: A bullish oriented market participant might pressures to test our next resistance level at 1.5165 (R1). Loss here could open a route towards to our interim target at 1.5188 (R2) and the main aim for today locates at 1.5211 (R3). Downwards scenario: As long as price stays below the moving averages our medium-term outlook would be negative. Though, extension lower the 1.5099 (S1) is being able to drive market price towards to our next supports at 1.5076 (S2) and 1.5053 (S3).

Resistance Levels: 1.5165, 1.5188, 1.5211
Support Levels: 1.5099, 1.5076, 1.5053

Forex Technical Analysis USDJPY
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: USDJPY recently tested negative side and currently remains stable below the 20 SMA. Possible price appreciation is limited to the resistance level at 101.53 (R1). Only clear break here would suggest next intraday targets at 101.81 (R2) and 102.09 (R3). Downwards scenario: Any prolonged movement below the support at 100.60 (S1) might prolong downside pressure and drive market price towards to supportive means at 100.34 (S2) and 100.08 (S3).

Resistance Levels: 101.53, 101.81, 102.09
Support Levels: 100.60, 100.34, 100.08

Source: FX Central Clearing Ltd,( Currency Converter | Forex ECN Broker | Forex Demo Account |FXCC )

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Forex Technical & Market Analysis FXCC Jun 04 2013

Post  forexlionz on Tue Jun 04, 2013 2:17 pm

Forex Technical & Market Analysis FXCC Jun 04 2013

Fitch cuts Cyprus to B-, negative outlook

Fitch Ratings has downgraded Cyprus's long-term foreign currency issuer default rating by one notch to 'B-' from 'B' while keeping a negative outlook due to the country's elevated economic uncertainty. The rating agency had placed Cyprus on negative watch in March. With this decision, Fitch pushed Cyprus further into junk territory, now 6 notches. "Cyprus has no flexibility to deal with domestic or external shocks and there is a high risk of the (EU/IMF) program going off track, with financing buffers potentially insufficient to absorb material fiscal and economic slippage," Fitch said in a statement.

The EUR/USD finished the day sharply higher, at one point trading all the way up to 1.3107 before leaking lower later in the day to close up 76 pips at 1.3070. Some analysts were pointing towards weaker than expected ISM data from the US as the main catalyst for the bullish move in the pair. Economic data out of the US will slow down a bit the next few days, but volatility is certain to pick up as we approach the ECB Rate Decision on Thursday, as well as the Non-Farm Payrolls number due out of the US on Friday.
https://support.fxcc.com/email/technical/04062013/

FOREX ECONOMIC CALENDAR :
2013-06-04 08:30 GMT | UK. PMI Construction (May)
2013-06-04 09:00 GMT | EMU. Producer Price Index (YoY) (Apr)
2013-06-04 12:30 GMT | USA. Trade Balance (Apr)
2013-06-04 23:30 GMT | Australia. AiG Performance of Services Index (May)

FOREX NEWS :
2013-06-04 04:30 GMT | RBA Interest Rate Decision stays unchanged at 2.75%
2013-06-04 03:20 GMT | Will economic data later in week free EUR/USD from range bound behavior?
2013-06-04 02:13 GMT | EUR/AUD finds some ground in the 1.34 round area
2013-06-04 02:00 GMT | AUD/JPY advances capped below 97.50

------------------------
EURUSD :
HIGH 1.30804 LOW 1.30566 BID 1.30572 ASK 1.30575 CHANGE -0.14% TIME 08 : 22:51



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: While price is quoted above the 20 SMA, our technical outlook would be positive. Yesterday high offers next resistance level at 1.3107 (R1). Any price action above it would suggest next targets at 1.3127 (R2) and 1.3147(S3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.3043 (S1). Possible price regress could expose our initial targets at 1.3023 (S2) and 1.3003 (S3) in potential.

Resistance Levels: 1.3107, 1.3127, 1.3147
Support Levels: 1.3043, 1.3023, 1.3003

-----------------------
GBPUSD :
HIGH 1.53427 LOW 1.53101 BID 1.53115 ASK 1.53119 CHANGE -0.05% TIME 08 : 22:52



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

Upwards scenario: Next barrier on the upside lie at 1.5343 (R1). Surpassing of this level might enable our initial target at 1.5362 (R2) and any further gains would then be limited to last resistive structure at 1.5382 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.5307 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.5287 (S2) and 1.5267 (S3).

Resistance Levels: 1.5343, 1.5362, 1.5382
Support Levels: 1.5307, 1.5287, 1.5267

----------------------
USDJPY :
HIGH 99.88 LOW 99.333 BID 99.838 ASK 99.839 CHANGE 0.31% TIME 08 : 22:52



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

Upwards scenario: Possible bullish penetration might face next challenge at 100.02 (R1). Break here is required to establish retracement action, targeting 100.32 (R2) en route towards to last resistance for today at 100.65 (R3). Downwards scenario: Penetration below the support at 99.31 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 99.04 (S2) and 98.75 (S3) might be triggered.

Resistance Levels: 100.02, 100.32, 100.65
Support Levels: 99.31, 99.04, 98.75

Source: FX Central Clearing Ltd,( Forex Training | Best Automatic Forex Trading Platforms | FXCC )

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Forex Technical & Market Analysis FXCC Jun 05 2013

Post  forexlionz on Wed Jun 05, 2013 12:08 pm

Forex Technical & Market Analysis FXCC Jun 05 2013

IMF's Lagarde urges Greece not to relax bailout efforts

MF head Christine Lagarde said in an interview for the Greek state TV on Tuesday that the country was making progress on its bailout program but that it nevertheless should increase efforts to combat tax evasion and implement reforms to attract foreign investors. 'Now is not the time to relax the effort,' Lagarde said, adding that "There are some really positive developments but obviously more needs to be done.” She listed tax evasion and reforms to spur foreign investment as the most important issues which need to be dealt with. This week EU, ECB and IMG inspectors return to Athens for another revision of the Greek bailout program, during which they are expected to focus on the Greek government's progress in reducing state employee numbers.

The EUR/USD traded in a narrow range today but still managed to finish the day in positive territory, closing up 11 pips at 1.3081. Economic data out of the both the EU and US was light, but will pick up as we approach the end of the week with the ECB Interest Rate Decision on Thursday, as well as US Non Farm Payrolls on Friday. However, before the real fireworks begin, some analysts are pointing to tomorrow’s ADP data out of the US as a possible catalyst for tomorrow’s price action. According to Sean Callow at Westpac, “we have the ADP report plus non manufacturing ISM jobs components tonight. There is a great deal of focus on jobs data in the US given recent speculation about Fed tapering its asset purchase programs. ADP disappointed in April but has not had much directional success in picking payrolls outcomes. The ISM report on Monday casts a long shadow over tonight's non manufacturing report. Arguably, markets will be set up for a softer outcome given the weaker US$ in recent sessions. Tonight's data could prove to be important for FX markets.”
https://support.fxcc.com/email/technical/05062013/

FOREX ECONOMIC CALENDAR :
2013-06-05 08:28 GMT | UK. Markit Services PMI (May)
2013-06-05 09:00 GMT | EMU. Gross Domestic Product
2013-06-05 14:00 GMT | USA. ISM Non-Manufacturing PMI (May)
2013-06-05 18:00 GMT | USA. Fed's Beige Book

FOREX NEWS :
2013-06-05 05:11 GMT | USD/JPY back below 100; Australia GDP disappoints
2013-06-05 04:39 GMT | AUD/JPY searching for bids near 96.00
2013-06-05 03:26 GMT | EUR/USD technical indicators beginning to look more constructive
2013-06-05 01:46 GMT | AUD/USD breaking lower towards 0.9600 after Aussie GDP data

---------------------------
EURUSD :
HIGH 1.30964 LOW 1.30653 BID 1.30899 ASK 1.30903 CHANGE 0.08% TIME 08 : 56:44



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We are not expecting significant volatility increase today however upside risk aversion is seen above the next resistance level at 1.3107 (R1). Price evaluation above this level would suggest next targets at 1.3127 (R2) and 1.3147 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3064 (S1) might open way towards to lower targets at 1.3043 (S2) and 1.3023 (S3).

Resistance Levels: 1.3107, 1.3127, 1.3147
Support Levels: 1.3064, 1.3043, 1.3023

----------------------
GBPUSD :
HIGH 1.53379 LOW 1.52912 BID 1.53331 ASK 1.53336 CHANGE 0.14% TIME 08 : 56:45



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

Upwards scenario: Medium- term tendency remains bullish as both moving averages are pointing up. Further progress above the resistance level at 1.5343 (R1) would open way towards to next targets at 1.5362 (R2) and 1.5382 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 1.5307 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 1.5287 (S2) and 1.5267 (S3) later on.

Resistance Levels: 1.5343, 1.5362, 1.5382
Support Levels: 1.5307, 1.5287, 1.5267

--------------------
USDJPY :
HIGH 100.462 LOW 99.385 BID 99.592 ASK 99.597 CHANGE -0.48% TIME 08 : 56:46



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

Upwards scenario: We see potential to test our resistive barrier at 99.75 (R1). Successful penetration above this mark might shift traders sentiment to the bullish side and validate our intraday targets at 100.02 (R2) and 100.32 (R3). Downwards scenario: Further downtrend development is limited now to the key supportive barrier at 99.31 (S1). Only loss here would enable our intraday targets at 99.04 (S2) and 98.75 (S3) on the downside.

Resistance Levels: 99.75, 100.02, 100.32
Support Levels: 99.31, 99.04, 98.75

Source: FX Central Clearing Ltd,( Forex ECN Brokers List | Auto Forex Trading Account | FXCC )

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Forex Technical & Market Analysis FXCC Jun 06 2013

Post  forexlionz on Thu Jun 06, 2013 1:12 pm

Forex Technical & Market Analysis FXCC Jun 06 2013

EUR Prime for a Breakout on ECB

The euro is prime for a breakout. Unlike other major currency pairs, EUR/USD traded in a relatively tight range throughout the European and North American sessions. On a technical basis, the currency pair stayed between the 100 and 200-day SMAs for the past 48 hours, which reflects the hesitation of investors who are waiting for a catalyst to take the currency pair out of its range. Tomorrow could be the perfect opportunity for a breakout in the pair with the European Central Bank scheduled to deliver its monetary policy decision. The ECB is widely expected to leave interest rates unchanged leaving Mario Draghi's press conference as the primary focus for FX traders.
https://support.fxcc.com/email/technical/06062013/


FOREX ECONOMIC CALENDAR :
2013-06-06 11:00 GMT | BoE Interest Rate Decision
2013-06-06 11:45 GMT | ECB Interest Rate Decision
2013-06-06 12:30 GMT | ECB Monetary policy statement and press conference
2013-06-06 12:30 GMT | USA. Initial Jobless Claims

FOREX NEWS :
2013-06-06 05:16 GMT | GBP/USD dealing around 1.54 ahead of BoE
2013-06-06 04:59 GMT | USD lower but holding above 82.50 DXY; Aussie smacked
2013-06-06 04:24 GMT | Economic data set to heighten volatility in EUR/USD
2013-06-06 00:24 GMT | AUD/USD cracks the big 0.95 figure down

----------------------
EURUSD :
HIGH 1.31089 LOW 1.30751 BID 1.31005 ASK 1.31009 CHANGE 0.07% TIME 08 : 35:19



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD stabilized after the initial uptrend formation. Potential to move higher is seen above the next resistance level at 1.3116 (R1). Loss here would suggest next intraday targets at 1.3135 (R2) and 1.3155 (R3). Downwards scenario: We would shift our intraday technical outlook to the negative side if the price manage to penetrate below the key support at 1.3074 (S1). Clearance here is required to enable intraday targets at 1.3053 (S2) and 1.3033 (S3).

Resistance Levels: 1.3116, 1.3135, 1.3155
Support Levels: 1.3074, 1.3053, 1.3033

----------------------
GBPUSD :
HIGH 1.54157 LOW 1.5381 BID 1.54005 ASK 1.54011 CHANGE -0.03% TIME 08 : 35:20



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

Upwards scenario: Ascending structure on GBPUSD suggest possible correction ahead though break above the resistance at 1.5418 (R1) is liable to stimulate bullish pressure and validate interim target at 1.5443 (R2) en route final aim at 1.5469 (R3). Downwards scenario: Retracement action is possible if the price manages to overcome our initial support level at 1.5359 (S1). In such case we would suggest intraday targets at 1.5353 (S2) and 1.5327 (S3).

Resistance Levels: 1.5418, 1.5443, 1.5469
Support Levels: 1.5359, 1.5353, 1.5327

------------------------
USDJPY :
HIGH 99.466 LOW 98.862 BID 99.348 ASK 99.352 CHANGE 0.29% TIME 08 : 35:21



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

Upwards scenario: Next hurdle on the upside is seen at important technical level – 99.55 (R1). If the price manages to overcome it we expect further acceleration towards to our initial targets at 99.83 (R2) and 100.12 (R3). Downwards scenario: On the downside next challenge is seen at 98.86 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 98.58 (S2) and 98.30 (R3) later on today.

Resistance Levels: 99.55, 99.83, 100.12
Support Levels: 98.86, 98.58, 98.30

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

forexlionz

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Forex Technical & Market Analysis FXCC Jun 07 2013

Post  forexlionz on Fri Jun 07, 2013 1:09 pm

Forex Technical & Market Analysis FXCC Jun 07 2013

Will Non-Farm Payrolls Save or Kill the Dollar?

The big story today in the financial markets was the sell-off in the U.S. dollar. The greenback fell quickly and aggressively against all of the major currencies right around the European close and held onto its losses to end the day down 2% against the Japanese Yen and more than 1% against the euro, British pound and Swiss Franc. There were a few different factors behind the sell-off in the greenback. The dollar initially traded lower on the optimistic comments from ECB President Draghi but those losses were contained to the EUR/USD. USD/JPY did not see any losses until 90 minutes before the European close at 12pm NY Time and only when it started to break down did the dollar collapse against all of the major currencies.
https://support.fxcc.com/email/technical/07062013/

FOREX ECONOMIC CALENDAR :
2013-06-07 06:00 GMT | Germany. Trade Balance s.a. (Apr)
2013-06-07 08:30 GMT | UK. Total Trade Balance (Apr)
2013-06-07 12:30 GMT | USA. Nonfarm Payrolls (May)
2013-06-07 19:00 GMT | USA. Consumer Credit Change (Apr)

FOREX NEWS :
2013-06-07 04:46 GMT | USD/JPY attempts to fight back above 96.00 in Asia trade
2013-06-07 03:36 GMT | EUR/USD technical picture looks set for further advances ahead of NFP
2013-06-07 02:43 GMT | Aussie breaks 0.9550 as selling resumes in Asia
2013-06-07 01:40 GMT | USD/JPY breaks momentarily below 97 figure


EURUSD :
HIGH 1.32688 LOW 1.32355 BID 1.32534 ASK 1.32540 CHANGE 0.06% TIME 08 : 24:35



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Apparently market sentiment is clearly positive for the EURUSD as both moving averages are pointing up. Clearance of our resistance level at 1.3305 (R1) would open the way for an upside penetration towards to next targets at 1.3337 (R2) and 1.3370 (R3). Downwards scenario: Possible price depreciation is limited to the key support barrier at 1.3223 (S1). Break here is required to enable corrective action towards to lower targets at 1.3190 (S2) and 1.3157 (S3).

Resistance Levels: 1.3305, 1.3337, 1.3370
Support Levels: 1.3223, 1.3190, 1.3157

---------------------
GBPUSD :
HIGH 1.56178 LOW 1.55808 BID 1.55949 ASK 1.55963 CHANGE -0.02% TIME 08 : 24:36



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

Upwards scenario: Yesterday high offers a key resistive barrier at 1.5684 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.5732 (R2) and 1.5781 (R3) in potential. Downwards scenario: Possible downside extension might face next supportive barrier at 1.5564 (S1). Clearance here is required to open the way towards to interim target at 1.5517 (S2) and any further price regress would then be targeting 1.5467 (S3).

Resistance Levels: 1.5684, 1.5732, 1.5781
Support Levels: 1.5564, 1.5517, 1.5467

-------------------------
USDJPY :
HIGH 97.517 LOW 95.549 BID 96.696 ASK 96.701 CHANGE -0.27% TIME 08 : 24:37



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

Upwards scenario: After dipping lower today we see potential of market strengthening in near-term perspective. Next on tap is seen resistance level at 97.57 (R1). Break here would suggest next intraday targets at 98.07 (R2) and 98.58 (R3). Downwards scenario: Price regress below the support level at 95.53 (S1) would increase likelihood of failing towards to our key supportive barrier at 95.07 (S2) and any further market decline would then be targeting final support for today at 94.58 (S3).

Resistance Levels: 97.57, 98.07, 98.58
Support Levels: 95.53, 95.07, 94.58

Source: FX Central Clearing Ltd,( Free Forex Demo Accounts | Top ECN Forex Broker | Forex Blog | FXCC )

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Forex Technical & Market Analysis FXCC Jun 10 2013

Post  forexlionz on Mon Jun 10, 2013 12:07 pm

Forex Technical & Market Analysis FXCC Jun 10 2013

EUR/USD still searching for direction after NFP Data

After trading as high as 1.3284 ahead of the US Non Farm Payroll data, the EUR/USD was unable to hold onto early gains and ended the session 68 pips lower 1.3216. The lack of follow through after the sharp gains early in the week is somewhat concerning, but thus far the pair has been able to hold onto the critical support level located in the 1.3200 area. Some analysts are pointing towards a combination between the Non Farm Payroll data, as well as comments from ECB President Draghi at the most recent ECB meeting as reasons to expect limited upside for the EUR/USD in coming days. According to Marc Chandler, Head of Currency Strategy at BBH, “We warned that although the technical factors looked constructive for the dollar, the fundamentals, in the form of the ECB not delivering on the negative deposit rate (that Draghi said he had an open mind about) and additional aid for small and medium size businesses, were less supportive.”

Although he believes the jobs number was not strong enough to warrant any QE tapering in the near future, Chandler noted downside potential in the USD is limited at current levels. “We anticipated that the jobs data would not support notions from some Fed officials (and market participants) that tapering of the purchases of long-term assets could being as early as this month. Now we suspect the dollar's down move has been largely exhausted and we anticipate a recovery in the dollar into a new trading range,” Chandler concluded.
https://support.fxcc.com/email/technical/10062013/

FOREX ECONOMIC CALENDAR :
2013-06-10 07:15 GMT | Switzerland. Real Retail Sales (YoY) (Apr)
2013-06-10 08:30 GMT | EMU. Sentix Investor Confidence (Jun)
2013-06-10 12:15 GMT | Canada. Housing Starts s.a (YoY) (May)
2013-06-10 23:01 GMT | UK. RICS Housing Price Balance (May)

FOREX NEWS :
2013-06-10 04:37 GMT | EUR/USD still searching for direction after NFP Data
2013-06-10 03:35 GMT | Kiwi attempting bounce towards 0.7900
2013-06-10 02:51 GMT | AUD/JPY consolidating below 92.50
2013-06-10 02:20 GMT | USD/JPY advances capped below 98.50


EURUSD :
HIGH 1.32285 LOW 1.31852 BID 1.31975 ASK 1.31978 CHANGE -0.13% TIME 08 : 26:07



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Market sentiment is neutral according to the technical indicators. Though any prolonged movement above the resistive measure at 1.3242 (R1) would suggest next intraday targets at 1.3277 (R2) and 1.3311 (R3). Downwards scenario: Medium-term ascending structure might lose its power if the price manages to overcome next support level at 1.3187 (S1). Clearance here might determine intraday negative bias and expose our initial targets at 1.3159 (S2) and 1.3129 (S3).

Resistance Levels: 1.3242, 1.3277, 1.3311
Support Levels: 1.3187, 1.3159, 1.3129

--------------------------
GBPUSD :
HIGH 1.55627 LOW 1.55179 BID 1.55262 ASK 1.55274 CHANGE -0.17% TIME 08 : 26:08



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

Upwards scenario: GBPUSD remains under correction mode after initial uptrend formation. However strengthening above the next resistive structure at 1.5565 (R1) might activate bullish pressure and expose our intraday targets at 1.5602 (R2) and 1.5641 (R3). Downwards scenario: Key support level lies at 1.5486 (S1). Penetration below it might shift medium-term tone to the negative side. Our intraday targets locates at 1.5449 (S2) and 1.5411 (S3).

Resistance Levels: 1.5565, 1.5602, 1.5641
Support Levels: 1.5486, 1.5449, 1.5411

-----------------------
USDJPY :
HIGH 98.427 LOW 97.71 BID 98.235 ASK 98.240 CHANGE 0.73% TIME 08 : 26:09



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

Upwards scenario: Market gradually recovers previous week losses. If pair gains momentum on the upside and overcome our next resistance at 98.58 (R1), we would suggest next resistances at 98.95 (R2) and 99.33 (R3) as possible targets. Downwards scenario: On the other hand, depreciation below the technically important support level at 97.77 (S1) would allow further market decline on the medium-term perspective. Possible targets lies at 97.36 (S2) and 96.92 (S3).

Resistance Levels: 98.58, 98.95, 99.33
Support Levels: 97.77, 97.36, 96.92

Source: FX Central Clearing Ltd,( Forex Software | Forex Basics | Forex ECN Trading Account | FXCC )

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Forex Technical & Market Analysis FXCC Jun 11 2013

Post  forexlionz on Tue Jun 11, 2013 2:07 pm

Forex Technical & Market Analysis FXCC Jun 11 2013

USD/JPY searching for direction after BoJ Meeting

The USD/JPY has experienced a fairly volatile Asia session, at one point declining all the way down to 97.78 before finding support and currently consolidating near the 98.30 level. The main catalyst for the sharp drop appeared to come right after the Bank of Japan announced they wouldn’t be making any changes to current monetary policy.

Analysts on the FXStreet.com team noted although many had expected the policy to remain unchanged, there were rumors circling of possible adjustments to help control the recent government bond market volatility which may have helped spark the initial declines when market participants saw the adjustments to current policy were not made. “The Bank of Japan monetary policy meeting offered no particular response to the latest episodes of market volatility in JGB, which includes the failure to change maturities of fixed rate operations in order to ease bond market volatility. Also, there had been some rumors about a proposal to extend the loans to 2 years, something that was not accepted, leading to a strong selling in both the Nikkei and USD/JPY,” FXstreet.com team concluded.
https://support.fxcc.com/email/technical/11062013/


FOREX ECONOMIC CALENDAR :
N/A | Japan. BoJ Monetary Policy Statement
N/A | Germany. Germany Constitutional court ruling on OTM bond buying
2013-06-11 08:30 GMT | UK. Manufacturing Production
2013-06-11 14:00 GMT | UK. NIESR GDP Estimate


2013-06-11 05:00 GMT | USD/JPY searching for direction after BoJ Meeting
2013-06-11 04:43 GMT | 10% appreciation by the USD in 12-18 months - Societe Generale
2013-06-11 04:34 GMT | AUD/USD faces deeper falls on clean 0.94 breakout - JPMorgan
2013-06-11 04:01 GMT | GBP/USD possibly gunning for 1.5800 - 2ndSkies


EURUSD :
HIGH 1.32917 LOW 1.32474 BID 1.32702 ASK 1.32705 CHANGE 0.11% TIME 08 : 27:25



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Market remains relatively stable, though clearance of next resistance level at 1.3292 (R1) might initiates bullish pressure. Above the local high locates our resistive means at 1.3321 (R2) and 1.3350 (R3). Downwards scenario: Activation of bearish forces is possible below the support level at 1.3244 (S1). Clearance here would suggest next interim target at 1.3216 (S2) and if the price holds its momentum we would suggest final aim at 1.3187 (S3).

Resistance Levels: 1.3292, 1.3321, 1.3350
Support Levels: 1.3244, 1.3216, 1.3187

----------------------
GBPUSD :
HIGH 1.5602 LOW 1.55563 BID 1.55820 ASK 1.55825 CHANGE 0.06% TIME 08 : 27:25



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

Upwards scenario: Resistance level at 1.5602 (R1) acts as reference point for further market strengthening. Break here is required to enable next interim target at 1.5635 (R2) en route towards to final aim for today at 1.5667 (R3). Downwards scenario: Though, possibility of correction is high. Devaluation below the support at 1.5552 (S1) would initiate bearish pressure. On the way our next interim support at 1.5521 (S2) en route to final target at 1.5488 (S3).

Resistance Levels: 1.5602, 1.5635, 1.5667
Support Levels: 1.5552, 1.5521, 1.5488

--------------------
USDJPY :
HIGH 99.056 LOW 97.791 BID 98.226 ASK 98.231 CHANGE -0.52% TIME 08 : 27:26



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

Upwards scenario: USDJPY commence correction phase and currently any upside action is limited to the next resistive structure at 98.58 (R1). Break here is required to enable upside pressure towards to intraday targets at 98.95 (R2) and 99.33 (R3). Downwards scenario: Prolonged movement below the supportive measure at 97.77 (S1) is required to activate downtrend expansion. Next aim on the way would be mark at 97.36 (S2) and then final target could be met at 96.97 (S3).

Resistance Levels: 98.58, 98.95, 99.33
Support Levels: 97.77, 97.36, 96.97

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

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Forex Technical & Market Analysis FXCC Jun 12 2013

Post  forexlionz on Wed Jun 12, 2013 1:33 pm

Forex Technical & Market Analysis FXCC Jun 12 2013

Strong technical set up helps EUR/USD post highest close since mid February

The EUR/USD finished the session sharply higher, surpassing the critical resistance level near 1.3300 and closing up 57 pips at 1.3312 (highest daily close since Feb 19th). In what was a quiet day of economic releases from both the EU and US, analysts were searching for catalyst to help explain the impressive strength. Derek Halpenny, European Head of Global Markets Research at Bank of Tokyo Mitsubishi UFJ, was pointing towards recent hawkish comments from ECB President Draghi as an initial catalyst for the sharp move higher. “The euro remains incredibly solid and has advanced further versus the dollar. ECB President Draghi did speak yesterday and stated that rates would rise once the euro-zone economy improved – a statement of the obvious.”

In further discussing his views, Halpenny went on to comment, “We suspect that the current euro demand is probably emanating from the unwinding of long high yielding currency positions. Both the dollar and the euro were likely used as funding currencies for these positions and hence the euro is modestly out-performing the dollar.” To conclude his view, Halpenny went on to say he expects the EUR/USD will start to decline once the position unwind is completed.
https://support.fxcc.com/email/technical/12062013/
   
FOREX ECONOMIC CALENDAR :
N/A  | Germany. Constitutional court ruling on OMT bond buying
2013-06-12 06:00 GMT  | Germany. Consumer Price Index (YoY) (May)
2013-06-12 08:30 GMT  | UK. Claimant Count Change (May)
2013-06-12 21:00 GMT  | New Zeland. Monetary Policy Statement
   
FOREX NEWS :
2013-06-12 04:10 GMT  | German CPI next: Impact on EUR/USD
2013-06-12 03:43 GMT  | USD/CAD has found a short term base - TDS
2013-06-12 03:36 GMT  | AUD/JPY advances capped near 91.50
2013-06-12 02:40 GMT  | AUD/USD inching higher towards 0.9500

-------------------------   
EURUSD      :
HIGH 1.33172     LOW 1.32972     BID 1.33003     ASK 1.33004     CHANGE -0.1%     TIME 08 : 24:49



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Upwards penetration is limited now to next resistive structure at 1.3321 (R1). Break here is required to enable higher targets at 1.3350 (R2) and 1.3378 (R3). Downwards scenario: On the other hand, depreciation below the support level at 1.3271 (S1) would suggest next intraday target at 1.3244 (S2) and any further weakening would then be limited to final support level at 1.3216 (S3).

Resistance Levels: 1.3321, 1.3350, 1.3378
Support Levels: 1.3271, 1.3244, 1.3216

--------------------
GBPUSD      :
HIGH 1.56519     LOW 1.56337     BID 1.56362     ASK 1.56370     CHANGE -0.06%     TIME 08 : 24:50



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

Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.5654 (R1). A break above it would suggest next intraday target at 1.5686 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.5717 (R3). Downwards scenario: On the downside our focus is shifted to the next support level at 1.5618 (S1). Loss here is required to push the price towards to our next interim targets at 1.5584 (S2) en route towards to final support at 1.5550 (S3)

Resistance Levels: 1.5654, 1.5686, 1.5717
Support Levels: 1.5618, 1.5584, 1.5550

------------------
USDJPY      :
HIGH 96.778     LOW 95.918     BID 96.738     ASK 96.743     CHANGE 0.76%     TIME 08 : 24:51



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

Upwards scenario: A violation of next resistance at 97.29 (R1) might call for a run towards to next target at 97.71 (R2) and any further appreciation would then be limited to final target at 98.13 (R3). Downwards scenario: Negative developments might be settled below the important support level at 96.21 (S1). Any price action below it would then be targeting support at 95.79 (S2) and final target could be exposed at 95.37 (S3) mark.

Resistance Levels: 97.29, 97.71, 98.13
Support Levels: 96.21, 95.79, 95.37

Source: FX Central Clearing Ltd,( ECN Currency Trading Blog | Forex Training and Tips | FXCC )

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Forex Technical & Market Analysis FXCC Jun 13 2013

Post  forexlionz on Thu Jun 13, 2013 12:22 pm

Forex Technical & Market Analysis FXCC Jun 13 2013

 IMF approves €657 million bailout tranche for Portugal

The International Monetary Fund (IMF) approved the seventh tranche of Portugal's bailout Wednesday and gave the country more time to meet its budget-cutting goals. The IMF will disburse the next tranche worth €657 million after the successful review of a bailout program that started in 2011. Meanwhile, the fund eased conditions, allowing Portugal to lower its budget deficit to 3% of GDP by 2015 from 6.4% in 2012, instead of by 2014. "The Portuguese authorities have put forward a program that is economically well-balanced and has growth and job creation at its center", IMF acting Managing Director John Lipsky wrote in a statement.

With Chinese markets back in business after a 5 day weekend closed over holidays, local share markets were dumped with Nikkei index leading the way lower losing at one point more than -6%. USD posted fresh 4-month lows at 80.66 DXY with USD/JPY printing fresh 2-month lows at 94.36, and EUR/USD 3-month highs above 1.3360. Gold and Oil showed little changes on the move. Australian job market surprised to the upside adding 1.1k more jobs to the economy when -10k were expected, making AUD/USD dip below the 0.9450 level. RBNZ left interest rates unchanged at 2.5%, with NZD/USD hanging around the 0.79 figure.
http://blog.fxcc.com/forex-technical-market-analysis-june-13-2013/


FOREX ECONOMIC CALENDAR :
2013-06-13 08:00 GMT  | EMU. ECB Monthly Report
2013-06-13 12:30 GMT  | USA. Retail Sales (MoM) (May)
2013-06-13 14:00 GMT  | USA. Business Inventories (Apr)
2013-06-13 23:50 GMT  | Japan. BoJ Monetary Policy Meeting Minutes

FOREX NEWS :
2013-06-13 04:55 GMT  | USD/JPY technical set up continues to deteriorate as bears maintain control
2013-06-13 04:27 GMT  | GBP/USD resting below 1.57 figure
2013-06-13 03:49 GMT  | EUR/JPY cracks 127.00, further selling pressure revealed
2013-06-13 03:15 GMT  | USD/CAD, sustained weakness below 1.0170/75 needed – TDS

--------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Uptrend evolvement remains in power. Further appreciation above the resistive barrier at 1.3371 (R1) is compulsory to commence positive market structure and validate next intraday targets at 1.3395 (R2) and 1.3418 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the key support barrier at 1.3335 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.3311 (S2) and 1.3288 (S3) in potential.

Resistance Levels: 1.3371, 1.3395, 1.3418
Support Levels: 1.3335, 1.3311, 1.3288
 
 ---------------------------
Forex Technical Analysis GBPUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: market looks overbought and possibility of retracement is high. Though loss of the next resistive barrier at 1.5706 (R1) might push the price towards to our targets at 1.5733 (R2) and 1.5761 (R3) later on today. Downwards scenario: We placed our support level right above the Monday high at 1.5654 (S1). Clearance here is required to open way towards to our interim target at 1.5626 (S2) and then final aim locates at 1.5598 (S3).

Resistance Levels: 1.5706, 1.5733, 1.5761
Support Levels: 1.5654, 1.5626, 1.5598

-------------------------
Forex Technical Analysis USDJPY :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Medium term bias is clearly negative on USDJPY however we expect see some recovery action later on today. Key resistive bastion lies at 95.12 (R1). If the price manages to break it, we would suggest next targets at 95.67 (R2) and 96.21 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 93.90 (S1). A fall below it might prolong the weakness towards to next target at 93.40 (S2) and any further market decline would then be limited to final support at 92.91 (S3).

Resistance Levels: 95.12, 95.67, 96.21
Support Levels: 93.90, 93.40, 92.91

Source: FX Central Clearing Ltd,( Currency Trading Blog | Best ECN Broker | Forex Trading System | FXCC )

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Forex Technical & Market Analysis FXCC Jun 14 2013

Post  forexlionz on Fri Jun 14, 2013 1:24 pm

Forex Technical & Market Analysis FXCC Jun 14 2013

Draghi says OMT necessary, effective and within ECB mandate

Mario Draghi defended the Outright Monetary Transactions (OMT) a day after the ECB and the Bundesbank confronted in a public hearing at Germany's top court on the legality of the bond-buying program. ECB President said the program was necessary, effective and in line with the ECB mandate. He pointed that benefits are 'visible to everybody' across Europe including Germany, in particular, falling bond yields in Italy and Spain.

"It is fully in line with our mandate because it is designed to preserve price stability for the euro area and uses instruments foreseen in the Statute," Draghi said according to the transcript of a video statement after receiving the responsible leadership award 2013 from the European School of Management and Technology in Berlin. Meanwhile, Draghi urged eurozone leaders to stick reforms and to push for greater integration "to build a stronger economic and monetary union based on shared sovereignty and greater legitimacy". "For the euro area now to move forward and establish itself on stronger ground, we need all decision makers to take their responsibilities," Draghi said.
https://support.fxcc.com/email/technical/14062013/
   
FOREX ECONOMIC CALENDAR :
2013-06-14 09:00 GMT  | EMU. Consumer Price Index (YoY) (May)
2013-06-14 12:30 GMT  | USA. Producer Price Index (YoY) (May)
2013-06-14 13:15 GMT  | USA. Industrial Production (MoM) (May)
2013-06-14 13:55 GMT  | USA. Reuters/Michigan Consumer Sentiment Index (Jun)
   
FOREX NEWS :
2013-06-14 04:21 GMT  | GBP/USD treading water around 1.57 figure
2013-06-14 03:08 GMT  | AUD/USD dealing with 0.9600 bids
2013-06-14 01:06 GMT  | USD/JPY knocks on 94.50 session lows
2013-06-14 01:06 GMT  | EUR/USD, look for highly corrective pullbacks to join bulls - 2ndSkies

   
EURUSD  :
HIGH 1.33745     LOW 1.33422     BID 1.33468     ASK 1.33474     CHANGE -0.21%     TIME 08 : 20:56



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: While instrument trades above the 20 SMA, it keeps immediate upside potential. Next resistance is seen at 1.3379 (R1), break above it might extend gains towards to next targets at 1.3412 (R2) and 1.3444 (R3). Downwards scenario: Failure to establish positive bias today might lead to the recovery action in near term perspective. Next immediate support locates at 1.3305 (S1). Break here is required to enable bearish pressure towards to our targets at 1.3272 (S2) and 1.3239 (S3).

Resistance Levels: 1.3379, 1.3412, 1.3444
Support Levels: 1.3305, 1.3272, 1.3239

------------------
GBPUSD  :   
HIGH 1.57199     LOW 1.56943     BID 1.57021     ASK 1.57034     CHANGE -0.1%     TIME 08 : 20:57



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

Upwards scenario: GBPUSD keeps bullish potential. Next hurdle on the upside might be found at 1.5737 (R1). Break here would open road towards to our interim aim at 1.5768 (R2) and enable final intraday resistive measure at 1.5799 (R3). Downwards scenario: Retracement action might occur below the key support level at 1.5671 (S1). Break here would open road towards to next supportive measure at 1.5639 (S2) and then final supportive bastion could be found at 1.5606 (S3).

Resistance Levels: 1.5737, 1.5768, 1.5799
Support Levels: 1.5671, 1.5639, 1.5606

--------------------------
USDJPY      :
HIGH 95.797     LOW 94.429     BID 95.309     ASK 95.314     CHANGE -0.05%     TIME 08 : 20:57



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

Upwards scenario: Instrument resumed consolidation phase from its initial downtrend formation. Resistance level at 95.67 (R1) is a key technical point on the upside. Penetration above it would suggest higher targets at 96.21 (R2) and 96.75 (R3) later on today. Downwards scenario: Market decline below the supportive mean at 94.38 (S1) might trigger bearish pressure and enable lower target at 93.85 (S2). Final target for today locates at 93.26 (R3) price level.

Resistance Levels: 95.67, 96.21, 96.75
Support Levels: 94.38, 93.85, 93.26

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

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Forex Technical & Market Analysis FXCC Jun 17 2013

Post  forexlionz on Mon Jun 17, 2013 12:34 pm

Forex Technical & Market Analysis FXCC Jun 17 2013

Dollar Outlook Next Week Hinges on Bernanke

The month of June has proven to be an extremely volatile period in the forex market as the U.S. dollar fell aggressively against many major currencies. Unfortunately we can't expect the markets to calm anytime soon with a heavy dose of economic data expected from countries around the world. The U.K. and Australia will release monetary policy minutes, the Swiss National Bank will hold a monetary policy meeting and of course - we also have the Federal Reserve's monetary policy announcement on the calendar. In addition to these event risks, Eurozone PMIs, New Zealand GDP, UK retail sales, US manufacturing data and Canadian retail sales are also scheduled for release. Yet there's no question that of all these events, the most important will be the Fed meeting. Much of the volatility in the financial markets has been caused by the uncertainty of Fed policy. There's been a lot of talk about tapering asset purchases, which has caused stocks to weaken but at the same time, central bank officials and noted Fed watchers have stressed that a reduction in Quantitative Easing does not equate to tightening. They are absolutely right and we think that the rest of the market is beginning to realize this connection as well but based on the reaction to Jon Hilsenrath's article this week, there are still a subset who need convincing.
https://support.fxcc.com/email/technical/17062013/
   
FOREX ECONOMIC CALENDAR :
24h  | All. G8 Meeting
2013-06-17 09:00 GMT  | EMU. Labour cost (Q1)
2013-06-17 09:00 GMT  | EMU. Trade Balance n.s.a. (Apr)
2013-06-17 12:30 GMT  | USA. NY Empire State Manufacturing Index (Jun)
   
FOREX NEWS :
2013-06-17 04:55 GMT  | EUR/AUD testing 1.3850 support on Euro weakness
2013-06-17 04:02 GMT  | EUR/USD dips to fresh session lows ahead of G-8
2013-06-17 02:23 GMT  | USD/JPY extends gains above 94.50
2013-06-17 00:49 GMT  | Aussie pops above 0.96 USD

   
EURUSD  :    
HIGH 1.33573     LOW 1.33184     BID 1.33187     ASK 1.33191     CHANGE -0.16%     TIME 08 : 14:08



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD trapped to the consolidation phase. Local high at 1.3358 (R1) offers a key resistance level. Break here is required to take the pair towards to initial targets at 1.3379 (R2) and 1.3399 (R3). Downwards scenario: Penetration below the support level at 1.3294 (S1) might maintain a negative tone and prolong corrective action. Price devaluation would then be targeting our supportive measures at 1.3272 (S2) and 1.3250 (S3) in potential.

Resistance Levels: 1.3358, 1.3379, 1.3399
Support Levels: 1.3294, 1.3272, 1.3250

---------------------
GBPUSD      :
HIGH 1.57319     LOW 1.56927     BID 1.56935     ASK 1.56944     CHANGE -0.02%     TIME 08 : 14:09



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

Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5737 (R1) on the upside. Surpassing of this level may initiate bullish pressure towards to next visible targets at 1.5768 (R2) and 1.5799 (R3). Downwards scenario: If the price failed to overcome our next resistance level we expect market easing below the support level at 1.5671 (S1). Loss here would shift our intraday outlook to the bearish side with expected targets at 1.5639 (S2) and 1.5606 (S3).

Resistance Levels: 1.5737, 1.5768, 1.5799
Support Levels: 1.5671, 1.5639, 1.5606

----------------------
USDJPY      :
HIGH 94.837     LOW 94.098     BID 94.722     ASK 94.726     CHANGE 0.67%     TIME 08 : 14:09



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

Upwards scenario: Upside formation is limited now to the next resistive barrier at 95.05 (R1). Clearance here is required to provide a space for a move towards to next target at 95.53 (R2) and then final aim would be 96.04 (R3). Downwards scenario: On the other hand, an element of supportive measures could be found at 94.24 (S1). Clearance here would suggest possible downtrend development towards to initial targets, located at 93.75 (S2) and 93.27 (S3).

Resistance Levels: 95.05, 95.53, 96.04
Support Levels: 94.24, 93.75, 93.27

Source: FX Central Clearing Ltd,( Forex Account | Best ECN Forex Brokers | Forex Trading Systems | FXCC )

forexlionz

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Forex Technical & Market Analysis FXCC Jun 18 2013

Post  forexlionz on Tue Jun 18, 2013 1:40 pm

Forex Technical & Market Analysis FXCC Jun 18 2013

Dollar Strengthens, Stocks Soar as Traders Position for FOMC

Yesterday we saw how much of a difference a few hours can make with the dollar recovering earlier losses to end the North American session higher against most of the major currencies. With only one day to go before the Federal Reserve's monetary policy announcement, the big move in equities and the reversal in currencies suggests that traders are beginning to position for FOMC. Yet taking a look at how the various markets are trading, there seems to be more confusion than clarity on what the central bank will say or do. The rise in the dollar and the increase in U.S. Treasury yields imply that currency and equity traders believe that the main takeaway from this week's meeting will be that the central bank is gearing up to taper. However the rally in U.S. equities suggest that stock traders believe that the Fed will make a point to distinguish tapering from tightening and reassure investors that cheap and easy money will remain available for a very long period of time. If Bernanke is successful in convincing the market that they will take a very gradualist approach to tapering, the U.S. dollar could give up its gains. However if Bernanke emphasizes the central bank's plans for tapering over its difference with tightening, the dollar could extend its rise.
https://support.fxcc.com/email/technical/18062013/
   
FOREX ECONOMIC CALENDAR :
N/A  | UK. BOE Inflation Letter
2013-06-18 06:00 GMT  | EMU. ECB President Draghi's Speech
2013-06-18 08:30 GMT  | UK. Consumer Price Index (YoY) (May)
2013-06-18 12:30 GMT  | USA. Consumer Price Index (YoY) (May)
   
FOREX NEWS :
2013-06-18 05:03 GMT   | GBP/USD capped at 1.57 ahead of UK CPI
2013-06-18 04:38 GMT   | EUR/USD braces for volatile week
2013-06-18 03:28 GMT   | AUD/JPY hovering above 90.00
2013-06-18 02:58 GMT   | GBP/JPY advances remain capped below 149.50

----------------------   
EURUSD      :
HIGH 1.33676     LOW 1.33466     BID 1.33526     ASK 1.33527     CHANGE -0.1%     TIME 08 : 36:46



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Current price setup might suggest volatility increase in near term perspective. If the price get acceleration on the upside and manages to surpass our resistive measure at 1.3382 (R1), we would suggest next targets at 1.3402 (R2) and 1.3422 (R3). Downwards scenario: On the other hand, an element of supportive measures could be found at 1.3326 (S1). Clearance here would suggest possible downtrend development towards to initial targets at 1.3307 (S2) and 1.3286 (S3).

Resistance Levels: 1.3382, 1.3402, 1.3422
Support Levels: 1.3326, 1.3307, 1.3286

------------------------
GBPUSD      :
HIGH 1.57227     LOW 1.56943     BID 1.56961     ASK 1.56970     CHANGE -0.14%     TIME 08 : 36:47



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

Upwards scenario: Clearance of our next resistive structure at 1.5739 (R1) would open way towards to our initial target at 1.5766 (R2) and any further market rise would then be targeting 1.5796 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support level at 1.5679 (S1), only clear break here would be a signal of possible market easing towards to next targets at 1.5652 (S2) and 1.5624 (S3) in potential.

Resistance Levels: 1.5739, 1.5766, 1.5796
Support Levels: 1.5679, 1.5652, 1.5624

-------------------------------
USDJPY      :
HIGH 94.955     LOW 94.436     BID 94.797     ASK 94.799     CHANGE 0.34%     TIME 08 : 36:48



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

Upwards scenario: USDJPY stabilized on the hourly chart however appreciation above the next resistance at 95.23 (R1) might be a good catalyst for a recovery action towards to next targets at 95.66 (R2) and 96.11 (R3). Downwards scenario: On the other hand, if the pair accelerates on the downside and manage to break our next support level at 94.26 (S1), it is likely to trigger our next support level at 93.82 (S2) and 93.37 (S3) later on today.

Resistance Levels: 95.23, 95.66, 96.11
Support Levels: 94.26, 93.82, 93.37

Source: FX Central Clearing Ltd,( Forex Account | Best ECN Forex Brokers | Forex Trading Systems | FXCC )

forexlionz

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Forex Technical & Market Analysis FXCC Jun 19 2013

Post  forexlionz on Wed Jun 19, 2013 2:17 pm

Forex Technical & Market Analysis FXCC Jun 19 2013

EUR - Lifted by Stronger Investor Confidence

The euro traded higher against all of the major currencies today thanks to the improvement in Eurozone and German investor sentiment. The Eurozone ZEW survey rose to 30.6 from 27.6 and while investors grew less optimistic about current conditions in Germany, their confidence in future conditions improved with the expectations component of the German ZEW rising to 38.5 from 36.4. With the European Central Bank taking additional steps to stimulate the economy, this data indicates that investors are looking for a stronger recovery. In a farewell conference for Bank of Israel Governor Stanley Fischer today, European Central Bank President Mario Draghi talked about ECB monetary policy. He said the central bank would consider non-standard measures including the possibility of negative deposit rates. Draghi said, "We will look with an open mind at these measures that are especially effective in our institutional setup and that fall within our mandate." Yet he warned that these non-standard measures could also lead to unintentional consequences. Parts of the Eurozone have been unresponsive to monetary policy and Draghi has set to regain its steering capacity. He pointed out that the introduction of non-standard policy measures along with standard measures helped prevent the materialization of deflation risk.
https://support.fxcc.com/email/technical/19062013/
   
FOREX ECONOMIC CALENDAR :
2013-06-19 08:30 GMT  | UK. Bank of England Minutes
2013-06-19 18:00 GMT  | USA. Fed Interest Rate Decision
2013-06-19 18:30 GMT  | USA. Fed's Monetary Policy Statement and press conference
2013-06-19 22:45 GMT  | New Zeland. Gross Domestic Product (QoQ) (Q1)
   
FOREX NEWS :
2013-06-19 04:38 GMT  | EUR/USD technical set up favors further upside ahead of FOMC
2013-06-19 03:37 GMT  | GBP/JPY trapped inside the 149.50/148.50 range
2013-06-19 03:36 GMT  | Bernanke not likely to backtrack on previous tapering comments - NAB
2013-06-19 03:03 GMT  | EUR/AUD edging higher towards 1.4200

   
EURUSD      :
HIGH 1.34023     LOW 1.33847     BID 1.33906     ASK 1.33911     CHANGE -0.03%     TIME 08 : 30:42



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 1.3402 (R1) is required to push the price towards to our next visible targets at 1.3424 (R2) and 1.3445 (R3). Downwards scenario: On the other hand, the 1.3381 (S1) mark is a key support level on the downside. Below here is a route towards to next supports at 1.3360 (S2) and 1.3339 (S3).

Resistance Levels: 1.3402, 1.3424, 1.3445
Support Levels: 1.3381, 1.3360, 1.3339

-----------------------------
GBPUSD      :
HIGH 1.56443     LOW 1.56177     BID 1.56325     ASK 1.56331     CHANGE -0.06%     TIME 08 : 30:43



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

Upwards scenario: The recent price acceleration on the downside suggests a possible recovery action. Next on tap is resistive barrier at 1.5657 (R1) on the way towards to higher targets at 1.5677 (R2) and 1.5697(R3). Downwards scenario: If the price failed to overcome our next resistance level we expect further market decline below the support level at 1.5616 (S1). Our intraday targets locates at 1.5597 (S2) and 1.5578 (S3).

Resistance Levels: 1.5657, 1.5677, 1.5697
Support Levels: 1.5616, 1.5597, 1.5578

-----------------------------
USDJPY      :
HIGH 95.664     LOW 95.177     BID 95.336     ASK 95.339     CHANGE 0.01%     TIME 08 : 30:43



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

Upwards scenario: Current price setup might suggest volatility increase in near term perspective. If the price get acceleration on the upside and manages to surpass our resistive measure at 95.66 (R1), we would suggest next targets at 95.96 (R2) and 96.26 (R3). Downwards scenario: Fractals level at 95.05 (S1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 94.75 (S2). Final support for today locates at 94.45 (S3).

Resistance Levels: 95.66, 95.96, 96.26
Support Levels: 95.05, 94.75, 94.45

Source: FX Central Clearing Ltd,( Forex Trading News | ECN Trading Account | Forex ECN Broker | FXCC )

forexlionz

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Forex Technical & Market Analysis FXCC Jun 20 2013

Post  forexlionz on Thu Jun 20, 2013 1:55 pm

Forex Technical & Market Analysis FXCC Jun 20 2013

Bernanke: The Fed is ready to start tapering

Following the Fed decision to hold rates and the optimistic FOMC economic projections, Fed Chairman Ben Bernanke indicated that the Fed are ready to start tapering QE. Bernanke began by highlighting the optimistic growth forecasts for 2013 and 2014, making reference to the hotly anticipated exit strategy, commenting, on “setting fed funds target over medium term and continuing purchases of MBS”. Further, he added that an improvement in the unemployment rate to 6.5% should not be considered to be a trigger for an immediate rate hike. He added that he is personally expecting this to occur during 2015.
https://support.fxcc.com/email/technical/20062013/
   
FOREX ECONOMIC CALENDAR :
2013-06-20 07:30 GMT  | Switzerland. SNB Interest Rate Decision
2013-06-20 08:30 GMT  | UK. Retail Sales
2013-06-20 12:30 GMT  | USA. Initial Jobless Claims
2013-06-20 14:00 GMT  | USA. Existing Home Sales Change
   
FOREX NEWS :
2013-06-20 04:42 GMT  | EUR/USD unable to hold a bid after FOMC release deemed hawkish
2013-06-20 04:21 GMT  | USD/JPY breaches the 97.00 handle
2013-06-20 03:45 GMT  | China's overnight repo surges to 25%
2013-06-20 03:28 GMT  | NZD/JPY continues to consolidate around 76.00

   
EURUSD      :
HIGH 1.3302     LOW 1.32491     BID 1.32493     ASK 1.32496     CHANGE -0.35%     TIME 08 : 04:08



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD broke all support levels yesterday and determined clear negative bias. Recovery action is possible above the resistive structure at 1.3302 (R1). Clearance here would enable higher targets at 1.3324 (R2) and 1.3346 (R3). Downwards scenario: Next on tap locates support level at 1.3245 (S1). Possible penetration below it would open way towards to next target at 1.3223 (S2) and then any further market decline would be limited to last mark at 1.3201 (S3).

Resistance Levels: 1.3302, 1.3324, 1.3346
Support Levels: 1.3245, 1.3223, 1.3201

---------------------------
GBPUSD      :
HIGH 1.54937     LOW 1.54316     BID 1.54332     ASK 1.54345     CHANGE -0.32%     TIME 08 : 04:09



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

Upwards scenario: We are not expecting significant volatility on the upside today, however clearance of our next resistive barrier at 1.5503 (R1) might push the price towards to our next visible targets at 1.5531 (R2) and 1.5558 (R3). Downwards scenario: Further downtrend evolvement might get more stimulus below the support level at 1.5417 (S1). Our intraday targets locates at 1.5391 (S2) and 1.5365 (S3).

Resistance Levels: 1.5503, 1.5531, 1.5558
Support Levels: 1.5417, 1.5391, 1.5365

------------------------
USDJPY      :
HIGH 97.181     LOW 96.201     BID 96.899     ASK 96.901     CHANGE 0.48%     TIME 08 : 04:09



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

Upwards scenario: Measures of resistance might be activating when the pair approaches 97.26 (R1) price level. Break here would suggest next interim target at 97.61 (R2) and If the price keeps its momentum we expect an exposure of 97.93 (R3). Downwards scenario: Possible bull back formation might face next hurdle at 96.39 (S1). Break here is required to open road towards to our next interim target at 96.07 (S2) en route to final aim at 95.75 (S3).

Resistance Levels: 97.26, 97.61, 97.93
Support Levels: 96.39, 96.07, 95.75

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

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Forex Technical & Market Analysis FXCC Jun 21 2013

Post  forexlionz on Fri Jun 21, 2013 1:08 pm

Forex Technical & Market Analysis FXCC Jun 21 2013

EU Fin Min struck deal on bank bailouts

Eurozone ministers struck a deal over the origin of funds for bank bailouts from now on. While the local government will contribute 20% of the new capital, the ESM (European Stability Mechanism) bailout fund will become the major contributor with an 80%, according to an official cited by Reuters. Moreover, EU finance ministers made an agreement for the ESM to be used as an investment vehicle for banks under stress, with each being assessed individually to become eligible to the aid, Reuters reported. With regards to Cyprus, EU Finance Ministers were clear that Cyprus must live up to its word by fulfilling its financial obligations. Furthermore, President of the Eurogroup Dijsselbloem was quoted on a headline saying "Implementation of agreed Cypriot baliout program is indispensible", noting that implementation is key for the Bank of Cyrus, also adding that there is likely to be a limit of 60bn euro on direct bank recap fund, although this can be reviewed.

The EUR/USD suffered more losses today, declining another 75 pips and closing at 1.3218. However, it should be noted the pair did trade as low as 1.3160 at one point, but was able to recover a decent portion of its losses before the end of the day. Analysts were discussing the release of the most recent EU PMI figures, which hit the tape during the previous European session.
https://support.fxcc.com/email/technical/21062013/   

FOREX ECONOMIC CALENDAR :
24h  | EMU. EcoFin Meeting
2013-06-21 06:35 GMT  | Japan. Bank of Japan Governor Kuroda Speech
2013-06-21 07:00 GMT  | Switzerland. Monthly Statistical Bulletin (Jun)
2013-06-21 12:30 GMT  | Canada. Consumer Price Index (YoY)
   
FOREX NEWS :
2013-06-21 04:25 GMT  | EUR/USD attempting to holds its ground, finds firm bids near 1.3160
2013-06-21 03:31 GMT  | USD/JPY to revist 100.00 next week - Bank of Tokyo-Mitsubishi UFJ
2013-06-21 02:46 GMT  | AUD/USD edging higher towards 0.9250
2013-06-21 02:10 GMT  | EUR/JPY advances capped below 130.00


-----------------------------   
EURUSD      :
HIGH 1.32545     LOW 1.31995     BID 1.32345     ASK 1.32348     CHANGE 0.12%     TIME 0 8: 31:10



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We are not expecting busy session ahead however upwards extension above the resistance at 1.3255 (R1) level would keep the bullish structure intact and validate our next intraday targets at 1.3272 (R2) and 1.3287 (R3). Downwards scenario: Our key support level locates at 1.3223 (S1) mark. Possible penetration below this mark would open way towards to next target at 1.3206 (S2) and then final support locates at 1.3190 (S3) price level.

Resistance Levels: 1.3255, 1.3272, 1.3287
Support Levels: 1.3223, 1.3206, 1.3190

----------------------
GBPUSD      :
HIGH 1.55228     LOW 1.54896     BID 1.54975     ASK 1.54987     CHANGE -0.06%     TIME 08 : 31:11



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

Upwards scenario: Local high, formed today offers a key resistive barrier at 1.5525 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.5549 (R2) and 1.5572 (R3). Downwards scenario: Though medium-term perspective remains negative for GBP versus the Dollar. Next on tap is seen support level at 1.5485 (S1), break here is required to enable our initial targets at 1.5462 (S2) and 1.5438 (S3)

Resistance Levels: 1.5363, 1.5388, 1.5413
Support Levels: 1.5301, 1.5276, 1.5251

-----------------------
USDJPY      :
HIGH 97.888     LOW 96.861     BID 97.833     ASK 97.833     CHANGE 0.6%     TIME 08 : 31:12



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

Upwards scenario: USDJPY remains stable below the 20 SMA. Possible price appreciation is limited to the resistance level at 98.08 (R1). Only clear break here would suggest next intraday targets at 98.36 (R2) and 98.63 (R3). Downwards scenario: Recent upside momentum likely exhausted and we expect some stabilization ahead. Next supportive bastion lies at 97.52 (S1). Prolonged movement below it might then expose our intraday targets at 97.25 (S2) and 96.98 (S3).

Resistance Levels: 98.08, 98.36, 98.63
Support Levels: 97.52, 97.25, 96.98

Source: FX Central Clearing Ltd,( Currency Converter | Forex School | ECN Forex Trading Accounts | FXCC )

forexlionz

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Forex Technical & Market Analysis FXCC Jun 25 2013

Post  forexlionz on Tue Jun 25, 2013 12:55 pm

Forex Technical & Market Analysis FXCC Jun 25 2013

Will Fed Speeches Halt the Dollar Rally?

Based on the sell-off in global equities and rise in bond yields around the world, deleveraging in the financial markets intensified. However in the forex market, the U.S. dollar appears to have stabilized. Early losses for many major currencies against the dollar were recovered by the end of the day. In fact, the AUD/USD even ended the North American trading session in positive territory. Does this mean that the dollar rally has peaked? No. There were no fundamental drivers behind the reversal in the greenback outside of exhaustion. U.S. stocks continued to decline, extending losses that began at the end of May. While the S&P 500 is still up more than 11% year to date, it lost 6% of its value since setting a record high of 1,669.16 on May 21st. With 1,500 in sight more losses are likely for the S&P 500 and additional weakness in equities is a reflection of risk aversion, which could lead to further strength for the greenback.
https://support.fxcc.com/email/technical/25062013/

FOREX ECONOMIC CALENDAR :
2013-06-25 08:30 GMT  | UK. BBA Mortgage Approvals (May)
2013-06-25 12:30 GMT  | USA. Durable Goods Orders (May)
2013-06-25 13:00 GMT  | USA. Housing Price Index (MoM) (May)
2013-06-25 14:00 GMT  | USA. New Home Sales (MoM) (May)
   
FOREX NEWS :
2013-06-25 02:02 GMT  | USD/JPY retesting 98.00 as Nikkei jumps 1%
2013-06-25 01:13 GMT  | AUD/USD well supported by 0.9250, 1h EMA
2013-06-25 01:01 GMT  | GBP/JPY struggling around the 151.00 handle
2013-06-25 00:21 GMT  | EUR/JPY structurally bearish, above 128.40 sees relief

   
EURUSD      :
HIGH 1.31356     LOW 1.31105     BID 1.31152     ASK 1.31158     CHANGE -0.03%     TIME 08 : 19:56



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: A buying interest might push the pair to attack next resistive measure at 1.3144 (R1). Clearance here is required to resume upside formation, targeting marks at 1.3162 (R2) and 1.3180 (R3) later on today. Downwards scenario: On the other hand, further downtrend formation might commence below the support level at 1.3104 (S1). Break here is required to validate our targets at 1.3087 (S2) and 1.3069 (S3) in potential.

Resistance Levels: 1.3144, 1.3162, 1.3180
Support Levels: 1.3104, 1.3087, 1.3069

-----------------------
GBPUSD      :
HIGH 1.5455     LOW 1.5425     BID 1.54402     ASK 1.54410     CHANGE 0.06%     TIME 08 : 19:57



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

Upwards scenario: Upwards penetration is limited to the psychological resistance level at 1.5466 (R1). Clearance here might open a route towards to our initial target at 1.5486 (R2) and then further price appreciation would be targeting resistance at 1.5506 (R3). Downwards scenario: Break of the support at 1.5426 (S1) is required to determine negative intraday bias and enable lower target at 1.5405 (S2). Clearance of this target would open a path towards to final support for today at 1.5385 (S3).

Resistance Levels: 1.5466, 1.5486, 1.5506
Support Levels: 1.5426, 1.5405, 1.5385

-------------------------
USDJPY      :
HIGH 98.065     LOW 97.275     BID 97.436     ASK 97.441     CHANGE -0.28%     TIME 08 : 19:57



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

Upwards scenario: Neutral channel formation remains favored pattern on the hourly chart frame. Possible clearance of our next resistive barrier at 97.87 (R1) would suggest next intraday targets at 98.11 (R2) and 98.36 (R3) in potential. Downwards scenario: On the other hand, loss of our support level at 97.21 (S1) would open road for a market decline towards to our next target at 96.98 (S2). Any further price weakening would then be limited to final support for today at 96.73 (S3).

Resistance Levels: 97.87, 98.11, 98.36
Support Levels: 97.21, 96.98, 96.73

Source: FX Central Clearing Ltd,( ECN Broker Account | Best Forex Trading Platform | Forex Blog | FXCC )

forexlionz

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Forex Technical & Market Analysis FXCC Jun 26 2013

Post  forexlionz on Wed Jun 26, 2013 2:46 pm

Forex Technical & Market Analysis FXCC Jun 26 2013

Pause Before Another Big Move?

Based on the price action over the past 48 hours in the forex market, volatility has declined as traders and investors wait for a fresh catalyst to drive the dollar higher. Better than expected U.S. economic data helped the greenback hold onto its gains against most of the major currencies but after such an extensive rally, the market is waiting for some confirmation that the Federal Reserve is on track to taper this year and won't do too much damage on the U.S. economy. The latest economic reports suggests that the economy may be able handle less stimulus but that is far from certain. As we said on Monday, the key is whether the other FOMC members are onboard with the idea. Right now, currency traders are in wait and see mode as they look forward to the next big catalyst - which could come from the speeches by Fed officials.
https://support.fxcc.com/email/technical/26062013/

FOREX ECONOMIC CALENDAR :
2013-06-26 06:00 GMT | Germany. Gfk Consumer Confidence Survey (Jul)
2013-06-26 09:30 GMT | UK. BoE's Governor King Speech
2013-06-26 12:30 GMT | USA. Gross Domestic Product. Annualized
2013-06-26 22:45 GMT | New Zeland. Trade Balance (MoM)

FOREX NEWS :
2013-06-26 04:35 GMT | The Greenback awaits next catalyst
2013-06-26 03:41 GMT | EUR/USD feeling the selling pressure; holds above 1.3050
2013-06-26 02:33 GMT | GBP/USD risk skewed to the downside - RBS
2013-06-26 01:59 GMT | USD/JPY dips below 98.00 on Yen strength

--------------------------
EURUSD :
HIGH 1.30872 LOW 1.30569 BID 1.30681 ASK 1.30687 CHANGE -0.1% TIME 08 : 21:14



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Despite the current consolidation pattern, EURUSD remains in downtrend formation on the bigger picture. Clearance of our next resistance level at 1.3102 (R1) might trigger corrective action towards to our initial targets at 1.3129 (R2) and 1.3156 (R3). Downwards scenario: Risk of further price regress is seen below the support level at 1.3054 (S1). Clearance here is required to enable bearish pressure towards to next aims at 1.3029 (S2) and 1.3004 (S3) in potential.

Resistance Levels: 1.3102, 1.3129, 1.3156
Support Levels: 1.3054, 1.3029, 1.3004

--------------------------
GBPUSD :
HIGH 1.54273 LOW 1.54022 BID 1.54215 ASK 1.54227 CHANGE 0.01% TIME 08 : 21:14



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

Upwards scenario: Market sentiment has improved for the bullish oriented traders yesterday though medium term bias remains negative. Next visible fractals level at 1.5436 (R1) offers a key resistance level. Break here would suggest higher targets at 1.5458 (R2) and 1.5479 (R3). Downwards scenario: Current price pattern suggests bearish potential if the pair manages to overcome next support level at 1.5397 (S1). Possible price regress could expose our initial targets at 1.5377 (S2) and 1.5356 (S3) later on today.

Resistance Levels: 1.5436, 1.5458, 1.5479
Support Levels: 1.5397, 1.5377, 1.5356

--------------------
USDJPY :
HIGH 98.235 LOW 97.646 BID 97.770 ASK 97.773 CHANGE -0.06% TIME 08 : 21:15



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

Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 97.92 (R1). Rise above that level would suggest next interim target at 98.14 (R2) and then final aim locates at 98.37 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 97.39 (S1). Break here is required to enable bearish forces and expose our intraday targets at 97.19 (S2) and 96.99 (S3).

Resistance Levels: 97.92, 98.14, 98.37
Support Levels: 97.39, 97.19, 96.99

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

forexlionz

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Join date : 2013-04-04

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Re: Forex Technical & Market Analysis FXCC

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