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Forex Technical & Market Analysis FXCC Dec 12 2013 Markets sell of due to 'taper' rumours, will better than expected unemployment numbers raise a seasonal cheer? Thursday Mario Draghi speaks, whilst the Swiss publish their monetary policy intentions and assessment with the Libor rate also published. The Swiss bank head Jordan will also hold a conference; the ECB will publish the latest monetary policy in the form of a monthly bulletin. European industrial production is expected to rise to 0.4% from the previous month's fall of -0.5%. In the USA core retail sales data is published, expected in at 0.2%, with retail sales up 0.6%. Unemployment claims are expected in at circa 321K after the surprise fall last week of 289K. Import prices in the USA are expected to fall to -0.7% (month on month). Canada's central bank governor Poloz speaks late on Thursday, whilst the business New Zealand index is published, expected to be similar to the previous month's print of 55.7, whilst Japan's revised industrial production is expected in at 0.5%, identical to the previous month's print. NYMEX WTI oil closed down on Wednesday by 1.13%, at $97.41 per barrel, with NYMEX nat gas closing up 2.43% on the day at $4.34 per therm. WTI advanced 5.3 percent last week, the most in five months, as U.S. crude inventories fell for the first time in 11 weeks and TransCanada Corp. announced plans to start part of its Keystone pipeline to the Gulf Coast from Cushing, Oklahoma, the delivery point for NYMEX futures. COMEX gold closed down 0.61% at $1253.40 per ounce with silver at $20.28 down 0.17% on the day. The DJIA equity index future is (at the time of writing) down 0.89%, SPX down 1.24% NASDAQ down 1.31%. Looking towards Europe's open the STOXX 50 future is down 0.61%, DAX future is down 0.54%, CAC future is down 0.34%, FTSE future down 0.81%. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-12-12 09:00 GMT | EU. ECB Monthly Report 2013-12-12 09:00 GMT | Switzerland. SNB press conference 2013-12-12 13:30 GMT | USA. Retail Sales (MoM) (Nov) 2013-12-12 18:05 GMT | Canada. BoC Governor Poloz Speech FOREX NEWS : 2013-12-12 02:49 GMT | Gold sees a little downside Wednesday; 1268.30 remains resistance 2013-12-12 01:19 GMT | USD/JPY heading to the 100 handle? 2013-12-12 00:41 GMT | AUD/USD spikes 2013-12-12 00:20 GMT | GBP/USD posts bearish reversal candle Wednesday. Could it have a date with 1.6250? ------------------ EURUSD : HIGH 1.37981 LOW 1.37731 BID 1.37889 ASK 1.37892 CHANGE 0% TIME 08 : 38:32 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3806 (R1). Price extension above it is required to validate our next intraday targets at 1.3832 (R2) and 1.3860 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3757 (S1) might open way towards to lower targets at 1.3728 (S2) and 1.3706 (S3). Resistance Levels: 1.3806, 1.3832, 1.3860 Support Levels: 1.3757, 1.3728, 1.3706 --------------------- GBPUSD : HIGH 1.638 LOW 1.63533 BID 1.63654 ASK 1.63659 CHANGE 0% TIME 08 : 38:32 OUTLOOK SUMMARY : Down TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Market descended, however price appreciation might be possible above the next resistance level at 1.6398 (R1). Break here is required to enable next attractive points at 1.6428 (R2) and 1.6465 (R3). Downwards scenario: Next support level is seen at 1.6346 (S1), any penetration below it might activate downside pressure and enable lower target at 1.6319 (S2). Any further market decline would then be limited to 1.6290 (S3). Resistance Levels: 1.6398, 1.6428, 1.6465 Support Levels: 1.6346, 1.6319, 1.6290 ----------------------- USDJPY : HIGH 102.754 LOW 102.387 BID 102.649 ASK 102.651 CHANGE 0% TIME 08 : 38:32 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : High Upwards scenario: Any upside actions looks limited to resistance level at 102.93 (R1). Surpassing of this level might enable next target at 103.15 (R2) and any further gains would then be targeting final mark at 103.38 (R3) in potential. Downwards scenario: On the downside our attention is shifted to the immediate support level at 102.30 (S1). Break here is required to enable bearish forces and expose our intraday targets at 102.10 (S2) and 101.92 (S3). Resistance Levels: 102.93, 103.15, 103.38 Support Levels: 102.30, 102.10, 101.92 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Dec 11 2013 Could USA oil supplies data cause WTI oil to flirt with the critical $100 a barrel level? Wednesday sees the publication of USA oil supplies data, expected to print at -5.6 bn barrels, whilst the USA federal budget balance is expected to print at $154.6 bn, significantly worsening from the previous month's figure of $91.6 bn. In New Zealand the cash rate is announced, predicted to stay the same at 2.5%. The press conference, the rate statement and the policy statement will accompany the announcement of the base interest rate, finally later that evening the RBNZ governor Wheeler will conduct a conference. Later Australia will announce the change in unemployment and as a consequence publish the unemployment rate; expected to rise to 5.8% with circa 10K new jobs created. Looking towards equity index futures for Wednesday, the DJIA future is down 0.30%, SPX future down 0.33%, NASDAQ down 0.07%. STOXX is down 0.90%, DAX future down 0.84%, CAC down 1.02%, FTSE future down 0.36%. Commodities enjoyed an improvement through Tuesday's sessions. NYMEX WTI oil up 1.20% at $98.51 per barrel, NYMEX nat gas up 0.12% at $4.24 per therm, COMEX gold enjoyed a significant bounce, up 2.18% at $1261.10 per ounce with silver at $201.41 up 3.60% on the day. The euro rose 0.2 percent to $1.3761 late in New York after reaching $1.3795, the strongest since Oct. 29th. The six straight increases were the most since the seven days ending Dec. 18th, 2012. The common currency fell 0.3 percent to 141.53 yen after climbing to 142.17, the highest since October 2008. The dollar fell 0.4 percent to 102.85 yen. The U.S. Dollar Index, tracking the U.S. currency versus its 10 major counterparts, dropped 0.3 percent to 1,012.57, reaching the lowest level since Nov. 1st. The Swiss franc advanced by 0.2 percent to 1.22169 per euro in London's afternoon session after appreciating to 1.22065, the strongest level since May 2nd. The currency rose for a sixth day versus the dollar, gaining 0.4 percent to 88.66 centimes per dollar. The Swiss franc advanced to the strongest level in seven months against the euro as investors weighed improving economic data before the nation’s central bank meets this week. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-12-11 12:00 GMT | USA. MBA Mortgage Applications (Dec 6) 2013-12-11 15:00 GMT | USA. Treasury Sec Lew Speech 2013-12-11 19:00 GMT | USA. Monthly Budget Statement (Nov) 2013-12-11 20:00 GMT | New Zealand. Monetary Policy Statement FOREX NEWS : 2013-12-11 06:10 GMT | EUR/USD reaches up to 1.3791 Fibo target and finally relents – for now 2013-12-11 03:48 GMT | AUD/USD stuck in the intraday doldrums after sluggish consumer confidence 2013-12-11 03:37 GMT | USD/JPY projected circa 106.00 by Q4 2014 - JPMorgan 2013-12-11 02:26 GMT | GBP/USD pausing after less-than-convincing breakout above 1.6442 previous resistance EURUSD : HIGH 1.37654 LOW 1.37468 BID 1.37578 ASK 1.37583 CHANGE 0% TIME 08 : 35:58 OUTLOOK SUMMARY : Down TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: We expect consolidation development after the initial uptrend formation on the hourly chart frame though possible bullish penetration might face next challenge at 1.3775 (R1). Break here is required to establish further bullish pressure, targeting 1.3789 (R2) en route towards to last resistance for today at 1.3806 (R3). Downwards scenario: Further correction development is limited now to the session low - 1.3728 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.3706 (S2) and 1.3684 (S3). Resistance Levels: 1.3775, 1.3789, 1.3806 Support Levels: 1.3728, 1.3706, 1.3684 ----------------- GBPUSD : HIGH 1.64579 LOW 1.64306 BID 1.64332 ASK 1.64335 CHANGE 0% TIME 08 : 35:58 OUTLOOK SUMMARY : Down TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Market having failed to establish directional movement yesterday. Possible price strengthening might arise above the next resistance level at 1.6465 (R1). Our interim target holds at 1.6493 (R2) en route toward to our major aim at 1.6518 (R3). Downwards scenario: We would shift our short-term technical outlook to the negative if the price manage to penetrate below the key support at 1.6421 (S1). Loss here would suggest next initial targets at 1.6403 (S2) and 1.6382 (S3). Resistance Levels: 1.6465, 1.6493, 1.6518 Support Levels: 1.6421, 1.6403, 1.6382 ------------------- USDJPY : HIGH 102.948 LOW 102.574 BID 102.732 ASK 102.734 CHANGE 0% TIME 08 : 35:58 OUTLOOK SUMMARY : Down TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Pair has settled sideways formation on the hourly timeframe. However potential to move higher is seen above the resistance level at 102.93 (R1) mark. Loss here would suggest next intraday targets at 103.15 (R2) and 103.38 (R3). Downwards scenario: Penetration below the support at 102.65 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 102.47 (S2) and 102.30 (S3) might be triggered. Resistance Levels: 102.93, 103.15, 103.38 Support Levels: 102.65, 102.47, 102.30 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Dec 10 2013 ECOFIN meetings might affect Euro direction, whilst important USA economic data is published in the New York session Tuesday sees the publication of China's industrial production figures, expected in at 10.2%, retail sales in China are predicted to rise by 13.2%, with fixed asset investment predicted to rise by 20.1% - year on year. In Europe both French and Italian Industrial production figures are published, both expected in at circa 0.2-0.3%. The UK's manufacturing production is expected to fall to 0.4% from the previous month's 1.1%. The UK's trade balance is expected to stay at circa £9.1 bn for the month. The UK's NIESR also publishes its latest data, suggesting that economic activity will be stable at circa 0.7%. In Europe the ECOFIN meetings will take place with Mario Draghi then holding court with a speech discussing the outcomes of the meetings in relation to any policy change, or additions. In the USA there is a raft of information published in the afternoon trading session; the NFIB small business index is published expected in at 92.7. JOLTS job openings are expected in at 3.96 million, with wholesale inventories in the USA expected to shrink to 0.3%. Later in the evening on Tuesday Australia's Westpac consumer confidence index is published, the expectation is for a figure similar to the previous month of 1.9%. Japan publishes its core machinery orders, expected in at 0.9%, up from the previous month's negative print. The corporation inflation number is also printed, expected in at 2.7% year on year. Equity index futures are looking insipid with regards to tomorrow's trading opportunities, the DJIA equity index future is up 0.05%, SPX future up 0.07%, NASDAQ up 0.07%. Looking towards the European open the STOXX future is up 0.34%, DAX up 0.35%, CAC up 0.08% and the FTSE future is up 0.22%. NYMEX WTI oil closed flat on the day on Monday at $97.34 per barrel, NYMEX nat gas closed the day up a significant 2.87% at $4.23 per therm. COMEX gold closed the day up 0.42% at $1234.20 per ounce with silver up 0.91% at $19.70 per ounce. The loonie, as the Canadian dollar is known, rose 0.1 percent to C$1.0627 per U.S. dollar at 5 p.m. in Toronto after falling as much as 0.3 percent. It touched C$1.0708 on Dec. 6th, the weakest since May 2010. One loonie buys 94.10 U.S. cents. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-12-10 12:00 GMT | EU. ECB President Draghi's Speech 2013-12-10 15:00 GMT | UK. NIESR GDP Estimate (3M) (Nov) 2013-12-10 23:30 GMT | Australia. Westpac Consumer Confidence (Dec) 2013-12-10 23:50 GMT | Japan. Machinery Orders (YoY) (Oct) FOREX NEWS : 2013-12-10 05:41 GMT | AUD/USD capped by 0.91/9120 offers cluster 2013-12-10 02:44 GMT | USD/JPY rolling over short-term as traders sell greenback; 103.54 remains key resistance 2013-12-10 02:16 GMT | EUR/USD bursts through 1.3750 barrier 2013-12-10 01:51 GMT | NZD/USD tilting towards 0.83 handle --------------------- EURUSD : HIGH 1.37676 LOW 1.37341 BID 1.37498 ASK 1.37501 CHANGE 0% TIME 08 : 52:41 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Next barrier on the upside lie at 1.3768 (R1). Surpassing of this level might enable our initial target at 1.3788 (R2) and any further gains would then be limited to last resistive structure at 1.3806 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.3728 (S1). Possible price regress could expose our initial targets at 1.3706 (S2) and 1.3684 (S3) in potential. Resistance Levels: 1.3768, 1.3788, 1.3806 Support Levels: 1.3728, 1.3706, 1.3684 ------------------- GBPUSD : HIGH 1.64657 LOW 1.64186 BID 1.64491 ASK 1.64497 CHANGE 0% TIME 08 : 52:41 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: On the upside potential is seen for a break above the resistance at 1.6465 (R1). In such case we would suggest next target at 1.6493 (R2) and any further rise would then be limited to final resistance at 1.6518 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.6428 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 1.6403 (S2). Final aim for today locates at 1.6382 (S3). Resistance Levels: 1.6465, 1.6493, 1.6518 Support Levels: 1.6428, 1.6403, 1.6382 ------------------ USDJPY : HIGH 103.394 LOW 103.167 BID 103.341 ASK 103.344 CHANGE 0% TIME 08 : 52:41 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : High Upwards scenario: Upside risk aversion is seen above the next resistance level at 103.38 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 103.70 (R2) and 104.03 (R3). Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 102.92 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 102.68 (S2) and 102.47 (S3). Resistance Levels: 103.38, 103.70, 104.03 Support Levels: 102.92, 102.68, 102.47 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Dec 09 2013 China's trade surplus reaches a four year high as exports rise signalling strength returning to the world’s second largest economy Sunday evening's trading session sees a raft of information published from Japan, the final GDP figure is predicted to come in at 0.4%, with the final GDP price predicted to come in at -0.3%, bank lending should come in at 2% improvement. There is important inflation data published on Sunday regarding China's economy; the CPI is predicted to come in at 3.0% with PPI expected to be in at -1.5%. Monday sees Germany's trade balance published; expected in at €17.4bn positive, Germany's month on month industrial prediction is expected in at 0.8%. The Swiss unemployment rate is predicted to come in at 3.2%, with retail sales up 1.7%. Europe's Sentix index is published with the expectation of a print of 10.5. There are also various Eurogroup meetings held. Monday also sees the UK BoE governor Mark Carney deliver a speech as does a significant person from the FOMC, Mr Bullard. The UK RICS house price balance is expected in at 59% suggesting that 59% of surveyors questioned are witnessing higher house prices in the UK. Japan publishes data on manufacturing index activity, predicted to come in at 17.2, with tertiary activity expected to print at 0.3%. Later that evening Australia's leading confidence index, from the National Australia Bank, is published, the expectation is for a print of circa 5, which is similar to the previous month's print. Australia's home loans figure is expected to come in at 1.3%. The consumer confidence index for Japan is published, expected in at 44.2, up from 42.1 the previous month. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-12-09 24h | EU. Eurogroup meeting 2013-12-09 11:00 GMT | EU. Industrial Production n.s.a. w.d.a. (YoY) (Oct) 2013-12-09 13:15 GMT | Canada. Housing Starts s.a (YoY) (Nov) 2013-12-09 21:45 GMT | New Zealand. Electronic Card Retail Sales (YoY) (Nov) FOREX NEWS : 2013-12-09 06:16 GMT | EUR/USD back in the red and below breakout point of 1.3708 ahead of European session 2013-12-09 04:29 GMT | Gold opens the week on a flat note; 1172 technical target looms 2013-12-09 03:45 GMT | GBP/USD pulling back after touching upside projected target at 1.6425 last week 2013-12-09 01:53 GMT | EUR/JPY off highs but nicely higher for session on “risk on” mood and sluggish Japanese data --------------------- EURUSD : HIGH 1.37212 LOW 1.36997 BID 1.37 ASK 1.37002 CHANGE 0% TIME 08 : 44:58 OUTLOOK SUMMARY : Down TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: EUR/USD is entering the retracement stage on the hourly chart however we see potential for further appreciation towards to our targets at 1.3730 (R2) and 1.3748 (R3) if the price manages to overcome key resistance measure at 1.3712 (R1). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the next support level at 1.3658 (S1). Loss here would suggest to monitor marks at 1.3640 (S2) and 1.3621 (S3) as possible intraday targets. Resistance Levels: 1.3712, 1.3730, 1.3748 Support Levels: 1.3658, 1.3640, 1.3621 ------------------------ GBPUSD : HIGH 1.63535 LOW 1.63227 BID 1.63504 ASK 1.63507 CHANGE 0% TIME 08 : 44:58 OUTLOOK SUMMARY : Up TREND CONDITION : Down trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6360 (R1). A break above it would suggest next intraday target at 1.6392 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6423 (R3). Downwards scenario: Next challenge on the downside is seen at 1.6318 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 1.6290 (S2) and 1.6266 (R3) later on today. Resistance Levels: 1.6360, 1.6392, 1.6423 Support Levels: 1.6318, 1.6290, 1.6266 ------------------------ USDJPY : HIGH 103.22 LOW 102.89 BID 103.037 ASK 103.039 CHANGE 0% TIME 08 : 44:58 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Immediate resistance at 103.13 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 103.29 (R2) and any further rise would then be limited to final resistive measure at 103.46 (R3) . Downwards scenario: Risk of market weakening is seen below the support level at 102.77 (S1). Loss here is required to allow further declines and expose our supportive barrier at 102.62 (S2) en route towards to final target for today at 102.46 (S3). Resistance Levels: 103.13, 103.29, 103.46 Support Levels: 102.77, 102.62, 102.46 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Dec 06 2013 NFP day could witness a surprise 'jobs' number Friday sees Japan's leading indicators published, France's trade balance is expected in at €-5.1bn, Germany's factory orders are expected to fall by -0.4%. Canada's unemployment number is expected to rise to 7.0%. Non-farm jobs created are expected in at circa 184K, with the USA unemployment expected in at 7.2%. Personal spending in the USA is expected in up 0.4%, whilst the preliminary university of Michigan survey of consumer sentiment expected in at 76.2. Later on Friday sees FOMC member Evans hold court, with the BOJ governor Kuroda holding court later in the evening. Late Friday evening-early Saturday morning China's trade balance is published. The euro advanced 0.6 percent to $1.3671 late in New York on Thursday after rising to $1.3677, the strongest level since Oct. 31st. The single currency was little changed at 139.10 yen after weakening as much as 0.5 percent. The dollar fell 0.6 percent to 101.74 yen. The euro rose to a five-week high versus the dollar as European Central Bank President Mario Draghi refrained from introducing further monetary stimulus. Sterling slumped 0.9 percent to 83.74 pence per euro late London time Thursday, the biggest decline since March 7th. The pound dropped 0.4 percent to $1.6315 after climbing to $1.6443 on Dec. 2nd, the highest since August 2011. The DJIA equity index future is at the time of writing down 0.43%, SPX future down 0.44%, NASDAQ down 0.11%. STOXX future is down 1.24%, DAX down 0.50%, CAC down 1.21%, FTSE future down 0.34%. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-12-06 13:30 GMT | USA. Nonfarm Payrolls (Nov) 2013-12-06 13:30 GMT | USA. Unemployment Rate (Nov) 2013-12-06 13:30 GMT | Canada. Unemployment Rate (Nov) 2013-12-06 13:30 GMT | Canada. Net Change in Employment (Nov) FOREX NEWS : 2013-12-06 04:45 GMT | Yen slides on GPIF headlines 2013-12-06 04:45 GMT | EUR/USD not relenting on upside – which shows just how strong Europe is perceived to be 2013-12-06 03:38 GMT | USD/JPY continues downside correction despite good US numbers from Thursday 2013-12-06 00:12 GMT | GBP/USD pulling back after touching upside projected target at 1.6425 this week ---------------------- EURUSD : HIGH 1.36742 LOW 1.36566 BID 1.36608 ASK 1.36611 CHANGE 0.01% TIME 08 : 37:57 OUTLOOK SUMMARY : Down TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Market sentiment has improved for the bullish oriented traders. Fresh high formed yesterday offers key resistance level at 1.3676 (R1). In case of price appreciation above it our focus would be shifted to the higher targets at 1.3692 (R2) and 1.3709 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.3640 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 1.3621 (S2). Final aim for today locates at 1.3599 (S3). Resistance Levels: 1.3676, 1.3692, 1.3709 Support Levels: 1.3640, 1.3621, 1.3599 ------------------ GBPUSD : HIGH 1.63414 LOW 1.6319 BID 1.63243 ASK 1.63249 CHANGE 0% TIME 08 : 37:57 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Measures of resistance might be activating when the pair approaches the 1.6340 (R1) mark. Break here would suggest next interim target at 1.6369 (R2) and If the price keeps its momentum we expect an exposure of 1.6392 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.6310 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.6289 (S2) and 1.6266 (S3). Resistance Levels: 1.6340, 1.6369, 1.6392 Support Levels: 1.6310, 1.6289, 1.6266 ---------------------- USDJPY : HIGH 102.167 LOW 101.631 BID 102.114 ASK 102.117 CHANGE 0% TIME 08 : 37:57 OUTLOOK SUMMARY : Up TREND CONDITION : Down trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Currently price deviates from its initial downside extension. Clearance of our next resistance level at 102.30 (R1) might trigger corrective action towards to our initial targets at 102.58 (R2) and 102.81 (R3). Downwards scenario: We do expect some pull-backs development on the downside below the support level at 101.93 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 101.69 (S2) and 101.43 (S3). Resistance Levels: 102.30, 102.58, 102.81 Support Levels: 101.93, 101.69, 101.43 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Dec 05 2013 UK BoE and ECB publish their rate and monetary easing decisions whilst UK chancellor will deliver his 'Autumn statement'. Thursday witnesses the UK's BoE MPC publish its interest rate policy decision and the details of its monetary easing policy decision which is expected to remain the same at £375bn. The statement covering the decisions will be of keen interest to investors. The UK's chancellor will give his autumn finance statement. Europe's ECB will publish its rate decision, expected to stay at 0.25%. Canada reports its building permits and the IVEY PMI expected in at 60.2, whilst the USA publishes its preliminary GDP figures expected in at 3.1%, with unemployment claim numbers at circa 322K for the week. The USA publishes its factory orders, predicted down by 0.7%. The yen rallied 0.2 percent to 102.36 versus the dollar late in New York Wednesday, after touching 103.38 Tuesday, the weakest level since May 23rd. The U.S. currency was little changed at $1.3593 per euro. The yen gained 0.1 percent to 139.13 per euro. The U.S. Dollar Index, which tracks the U.S. currency versus its 10 major counterparts, was little changed at 1,020.94, after rising to 1,025.36 yesterday, the highest level since Sept. 13th. The yen rallied for a second day against the dollar as stronger-than-forecast U.S. economic data spurred speculation the Federal Reserve will reduce stimulus that has driven up stocks globally. Bank of Canada policy makers kept their benchmark rate on overnight loans between commercial banks at 1 percent, where it’s been for more than three years, as forecast by all 22 economists in a Bloomberg survey. The Canadian dollar fell 0.3 percent to C$1.0684 versus the greenback, reaching the lowest level since May 2010. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-12-05 09:05 GMT | Bank of Japan Governor Kuroda Speech 2013-12-05 12:00 GMT | BoE Interest Rate Decision (Dec 5) 2013-12-05 12:45 GMT | ECB Interest Rate Decision (Dec 5) 2013-12-05 13:30 GMT | US Gross Domestic Product Annualized (Q3) FOREX NEWS : 2013-12-05 03:50 GMT | NZD/USD in no man's land; capped below 0.8240/50 2013-12-05 02:53 GMT | AUD/USD short squeeze pressing against 0.9050 2013-12-05 02:08 GMT | GBP/USD: If upside clears, next target 1.65/66 - 2ndSkies 2013-12-05 01:46 GMT | EUR/AUD dropping from monthly highs -------------------------- EURUSD HIGH 1.36394 LOW 1.358 BID 1.36243 ASK 1.36246 CHANGE 0% TIME 08 : 50:26 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 1.3641 (R1), break here would suggest next intraday targets at 1.3658 (R2) and 1.3674 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.3606 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.3588 (S2) and then 1.3571 (S3). Resistance Levels: 1.3641, 1.3658, 1.3674 Support Levels: 1.3606, 1.3588, 1.3571 ---------------------- GBPUSD : HIGH 1.63971 LOW 1.637 BID 1.63842 ASK 1.63845 CHANGE 0% TIME 08 : 50:26 OUTLOOK SUMMARY : Neutral TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Possibility of ascending structure is seen above the fractal level at 1.6404 (R1). Break here is required to clear the way towards to higher targets at 1.6426 (R2) and 1.6447 (R3). Downwards scenario: On the other hand, progress below the initial support level at 1.6364 (S1) might initiate bearish pressure and expose our intraday targets at 1.6342 (S2) and 1.6321 (S3) later on today. Resistance Levels: 1.6404, 1.6426, 1.6447 Support Levels: 1.6364, 1.6342, 1.6321 ----------------------- USDJPY : HIGH 102.442 LOW 101.99 BID 102.114 ASK 102.116 CHANGE 0% TIME 08 : 50:26 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: We see potential of market strengthening in near-term perspective. Next on tap is seen resistance level at 102.47 (R1). Break here would suggest next intraday targets at 102.67 (R2) and 102.90 (R3). Downwards scenario: On the downside, USDJPY might encounter supportive measures at 101.82 (S1). Break here would open the way for a test of our next targets at 101.60 (S2) and 101.39 (S3) later on today. Resistance Levels: 102.47, 102.67, 102.90 Support Levels: 101.82, 101.60, 101.39 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Dec 04 2013 Will the Bank of Canada lower base rates from 1%? And will USA job numbers from ADP enjoy a seasonal boost? Wednesday there's a raft of PMIs published early morning, Spanish and Italian final services PMIs with Europe's final services PMI also published expected in at 50.9. The UK services PMI is expected in at 62.1. There are OPEC meetings all day Wednesday, naturally these could have a positive, or negative impact on the price of oil. Retail sales for Europe is expected in at +0.2% from the -0.6% negative the previous month. Europe's revised GDP growth is expected in at 0.1%. The USA ADP employment numbers are expected to show an improvement of circa 185K jobs created for the month. Canada's trade balance is expected in up to $0.7bn, the USA's is expected in at $40.3 bn. The bank of Canada will publish its decision on its rate setting, expected to stay at 1.00%. Further USA news comes in the form of new home sales expected in at circa 432K, whilst the USA PMI for non manufacturing is expected in at 55.4. Crude oil inventories completes the day for USA high impact news releases with the beige book data also published. Australia's trade balance completes the day for news events. The U.S. 10-year yield declined one basis point on Tuesday, or 0.01 percentage point, to 2.78 percent late New York time. It fell as much as four basis points after rising one basis point earlier. It reached 2.81 percent yesterday, the highest since Nov. 21st. The price of the 2.75 percent security maturing in November 2023 gained 3/32, or 94 cents per $1,000 face amount, to 99 23/32. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-12-04 09:28 GMT | UK Markit Services PMI (Nov) 2013-12-04 10:00 GMT | EMY Gross Domestic Product s.a. (YoY) (Q3) 2013-12-04 15:00 GMT | BoC Interest Rate Decision 2013-12-04 19:00 GMT | US Fed's Beige Book FOREX NEWS : 2013-12-04 03:50 GMT | NZD/USD rejected by daily kijun, bearish below 0.8340/50 2013-12-04 03:35 GMT | Yen bearish trend to continue - JPMorgan 2013-12-04 02:37 GMT | EUR/JPY engaged in intraday battle, loss of H1 ichimoku cloud weighs 2013-12-04 01:57 GMT | AUD/USD breaks into new trend lows, sovereign bids sub 0.9050? ---------------------- EURUSD : HIGH 1.35976 LOW 1.35816 BID 1.35843 ASK 1.35845 CHANGE 0% TIME 08 : 43:56 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: A violation of next resistance at 1.3614 (R1) might call for a run towards to next target at 1.3629 (R2) and any further appreciation would then be limited to final target at 1.3644 (R3). Downwards scenario: Risk of market weakening is seen below the support level at 1.3580 (S1). Loss here is required to enable our supportive barrier at 1.3565 (S2) en route towards to final target for today at 1.3550 (S3). Resistance Levels: 1.3614, 1.3629, 1.3644 Support Levels: 1.3580, 1.3565, 1.3550 ------------------ GBPUSD : HIGH 1.63974 LOW 1.63781 BID 1.63918 ASK 1.63922 CHANGE 0.01% TIME 08 : 43:56 OUTLOOK SUMMARY : Neutral TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Next resistive barrier locates at 1.6407 (R1). Violation here is required to provide a signal of further market strengthening. In such case, resistances at 1.6429 (R2) and 1.6450 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the next support level at 1.6374 (S1) is being able to drive market price towards to our next targets at 1.6353 (S2) and 1.6331(S3). Resistance Levels: 1.6407, 1.6429, 1.6450 Support Levels: 1.6374, 1.6353, 1.6331 ---------------------- USDJPY : HIGH 102.663 LOW 102.239 BID 102.586 ASK 102.589 CHANGE 0% TIME 08 : 43:56 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Resistance at 102.75 (R1) limits possible upwards penetration. Break here is required to enable next interim target at 102.94 (R2) en route towards to final aim for today at 103.11 (R3). Downwards scenario: Next support level lies at 102.30 (S1). Penetration below it might shift short-term tone to the negative side. Our intraday targets locates at 102.14 (S2) and 101.96 (S3). Resistance Levels: 102.75, 102.94, 103.11 Support Levels: 102.30, 102.14, 101.96 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Dec 02 2013 Australian Manufacturing Slips in November, U.S. Retail Holiday Sales Up 2.3%, Whilst Foot Traffic Declines. The latest Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI) fell by 5.4 points in November, to 47.7 points (seasonally adjusted). This fall interrupted the promising run of mild expansion in the Australian PMI over the past two months (50 points marks the separation between expansion and contraction in the Australian PMI) and took the index back to its pre-election levels. The Australian PMI is again indicating varying degrees of contraction across the manufacturing sectors. U.S. retailers enjoyed a 2.3 percent sales gain over the critical Thanksgiving and Black Friday holiday time, in line with a prediction for the weakest holiday results since 2009. Sales at brick-and-mortar stores on Thanksgiving and Black Friday rose to $12.3 billion, according to a report yesterday from ShopperTrak a Chicago-based researcher who reiterated its prediction that sales for the entire holiday season will gain 2.4 percent, representing the smallest increase since the last recession. Sunday-Monday morning is a relatively quite opening for high impact news events, capital spending in Japan is predicted to rise by 3.1%. The HSBC final manufacturing PMI for China is expected to come in at 50.5. There is a raft of Australian data published overnight/early morning, with building approvals being the standout piece of data which is expected to fall to -4.3% from a positive 14.4% the previous month. Company operating profits are published for Australian companies. New Zealand's overseas trade index is expected in at 3.0%. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-12-02 08:58 GMT | EMU Markit Manufacturing PMI (Nov) 2013-12-02 09:28 GMT | UK Markit Manufacturing PMI (Nov) 2013-12-02 13:30 GMT | US Fed's Bernanke Speech 2013-12-02 15:00 GMT | US ISM Manufacturing PMI (Nov) FOREX NEWS : 2013-12-02 07:52 GMT | AUD/USD firmer, eyes on 0.9170 2013-12-02 06:53 GMT | EUR/USD stabilizing around 1.3600 2013-12-02 04:10 GMT | USD/JPY, second topside failure at 102.60 2013-12-02 03:06 GMT | GBP/USD, if 1.64/6425 absorbed, potential into 1.70/1.73 - BBH ----------------------- EURUSD : HIGH 1.36157 LOW 1.35812 BID 1.36032 ASK 1.36036 CHANGE 0% TIME 10 : 01:18 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low MARKET ANALYSIS - Intraday Analysis Upwards scenario: Possibility of price appreciation is seen above the key resistance at 1.3622 (R1). Break here would open a route towards to our intraday targets at 1.3643 (R2) and 1.3664 (R3). Downwards scenario: An important technical level at 1.3580 (S1) prevents possible market weakening. Break here is required to open road towards to interim target at 1.3558 (S2) en route to final aim at 1.3537 (S3). Resistance Levels: 1.3622, 1.3643, 1.3664 Support Levels: 1.3580, 1.3558, 1.3537 -------------------- GBPUSD : HIGH 1.64422 LOW 1.63684 BID 1.64126 ASK 1.64128 CHANGE 0% TIME 10 : 01:18 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low Upwards scenario: Fractal level at 1.6442 (R1) offers next resistive structure on the upside. If the price manages to overcome it, we would expect further appreciation towards to our initial targets at 1.6471 (R2) and 1.6499 (R3). Downwards scenario: On the hourly chart GBPUSD looks overbought and possibility of correction is high. Friday’s high offers key support level at 1.6385 (S1). Break here is required to enable our next targets at 1.6356 (S2) and 1.6327 (S3). Resistance Levels: 1.6442, 1.6471, 1.6499 Support Levels: 1.6385, 1.6356, 1.6327 -------------------- USDJPY : HIGH 102.594 LOW 102.226 BID 102.559 ASK 102.562 CHANGE 0% TIME 10 : 01:18 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: Price comfortably ranging on the hourly chart, however we see potential to overcome our next resistive barrier at 102.61 (R1) later on today. Any prolonged movement above it would suggest next intraday targets at 102.82 (R2) and 103.05 (R3). Downwards scenario: On the other hand, successful retest of our support level at 102.21 (S1) would clear the way for a recovery action towards to our lower targets at 102.00 (S2) and 101.78 (S3) in potential. Resistance Levels: 102.61, 102.82, 103.05 Support Levels: 102.21, 102.00, 101.78 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 27 2013 Unemployment claims in the USA expected to stay in their narrow range of 331K Wednesday sees the UK's second estimate GDP figure is published, expected to come in at 0.8%. The preliminary business investment data is published, it fell by 2.7% last quarter the expectations is for a 2.3% rise in the latest figures. The GFK German consumer confidence is published expected in at 7.1, versus 7.0 in the previous month. Durable goods orders for the USA are expected to fall by 1.5%, the Chicago PMI is excepted to fall to 60.6, with unemployment claims in at 331K. Natural gas and oil storage figures for the USA need watching carefully in relation to the volatility of trading oil and gas. Retail sales in Japan are scheduled to fall to a 2.2% increase month on month. The New Zealand ANZ business confidence index is published in the evening, as is Australian data concerning new homes sales and private capital expenditure, the latter expected to fall by -1.1%. Looking towards Wednesday's market open the DJIA equity index future is flat, as is the SPX, with the NASDAQ up 0.53%. STOXX is down 0.23%, DAX down 0.03%, CAC down 0.52% and FTSE down 0.93%. NYMEX WTI oil closed down 0.44% on the Dayan Tuesday at $93.68 per barrel, NYMEX nat gas was up 0.77% at $3.82 per therm. COMEX gold was flat at $1241.50 per ounce and silver at$19.85 per ounce down 0.38%. The euro strengthened 0.4 percent to $1.3572 per dollar late in New York time Tuesday after rising to $1.3575, the highest level since Nov. 20th. The 17-nation currency was little changed at 137.46 yen. Japan’s currency appreciated 0.4 percent to 101.28 per dollar after gaining 0.5 percent, the most since Nov. 13th. Australia’s dollar fell 0.8 percent to 92.44 yen after decreasing 1 percent to 92.25, the weakest since Oct. 10th. The U.S. Dollar Index, which tracks the currency against 10 major counterparts, fell 0.2 percent to 1,018.83 after gaining 0.1 percent. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-27 12:00 GMT | USA. MBA Mortgage Applications (Nov 22) 2013-11-27 13:30 GMT | USA. Chicago Fed National Activity Index (Oct) 2013-11-27 13:30 GMT | USA. Durable Goods Orders (Oct) 2013-11-27 13:30 GMT | USA. Initial Jobless Claims (Nov 22) FOREX NEWS : 2013-11-27 05:49 GMT | GBP/JPY finds offers at 164.90 2013-11-27 03:44 GMT | EUR/USD spikes in Asia, approaching 1.36 2013-11-27 01:47 GMT | AUD/USD pressured; glued to 0.91 2013-11-27 01:41 GMT | USD/JPY trading a bit higher Wednesday after posting a bearish reversal candle Tuesday ------------------- EURUSD HIGH 1.3599 LOW 1.35576 BID 1.35876 ASK 1.35881 CHANGE 0.11% TIME 08 : 07:20 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: The next resistance level is at 1.3597 (R1). Penetration above that level might trigger upside action and expose our next resistive mean at 1.3620 (R2) en route towards to final target for today at 1.3646 (R3). Downwards scenario: Further correction development is limited now to the session low - 1.3560 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.3542 (S2) and 1.3520 (S3). Resistance Levels: 1.3597, 1.3620, 1.3646 Support Levels: 1.3560, 1.3542, 1.3520 ----------------------- GBPUSD : HIGH 1.62305 LOW 1.61973 BID 1.62164 ASK 1.62176 CHANGE 0.01% TIME 08 : 07:21 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6236 (R1). A break above it would suggest next intraday target at 1.6276 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6309 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6188 (S1), we expect to see further market decline towards to our next target at 1.6145 (S2) and then next stop could be found at 1.6108 (S3) mark. Resistance Levels: 1.6236, 1.6276, 1.6309 Support Levels: 1.6188, 1.6145, 1.6108 --------------------- USDJPY : HIGH 101.652 LOW 101.184 BID 101.496 ASK 101.501 CHANGE 0.22% TIME 08 : 07:22 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: A violation of next resistance at 101.89 (R1) might call for a run towards to next target at 102.13 (R2) and any further appreciation would then be limited to final target at 102.35 (R3). Downwards scenario: On the other hand, a break of the support at 101.22 (S1) is required to determine negative intraday bias and enable lower target at 101.00 (S2). Clearance of this target would open a path towards to final support for today at 100.76 (S3). Resistance Levels: 101.89, 102.13, 102.35 Support Levels: 101.22, 101.00, 100.76 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 26 2013 USA house price index is published as the Richmond Fed Manufacturing Index is expected to rise. Tuesday in the UK will see the publication of the UK's Nationwide Building Society's house price inflation report. As one of the more modest/reasonable indices of house price data in the UK the print is expected to come in up 0.6% month on month. The UK also holds inflation report hearings during the day. The USA publishes data on building permits and housing starts, expected in at circa 0.92K for both. The Standard & Poor's Case Shiller house price index is published with the expectations that annual house price inflation in the USA will rise to 13% year on year. The Conference Board Confidence index is published, expected in at 72.1, with the Richmond Manufacturing index expected up at 3 from the previous reading of 1.0. Late Tuesday evening New Zealand publishes its trade balance, expected down at -345 million, whilst construction data (completed) for Australia is published. The yen fell 0.4 percent to 101.67 per dollar late in New York time on Monday after reaching 101.92, the weakest since May 29th. It slid 0.1 percent to 137.43 per euro after touching 137.99, the weakest since October 2009. The dollar added 0.3 percent to $1.3517 against Europe’s shared currency. The U.S. Dollar Index, which tracks the currency against 10 major counterparts, rose 0.2 percent to 1,020.95. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-26 10:00 GMT | UK Inflation Report Hearings 2013-11-26 13:30 GMT | US Housing Starts (MoM) (Oct) 2013-11-26 15:00 GMT | US Consumer Confidence (Nov) 2013-11-26 21:45 GMT | NZ Trade Balance (YoY) (Oct) FOREX NEWS : 2013-11-26 05:44 GMT | EUR/USD at risk of further retracements - ANZ 2013-11-26 04:47 GMT | Gold giving its best impression of an upside attempt – something not seen in a while 2013-11-26 03:55 GMT | GBP/USD falling softly after posting a nasty bearish reversal candle on Monday 2013-11-26 02:16 GMT | USD/JPY taking a breather after closing Monday above key “correction resistance” at 101.46 ----------------------- EURUSD : HIGH 1.35408 LOW 1.35151 BID 1.35301 ASK 1.35305 CHANGE 0.1% TIME 08 : 36:32 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Risk of possible price appreciation is seen above the next resistance level at 1.3541 (R1). Clearance here would suggest next intraday target at 1.3553 (R2) and then final aim locates at 1.3566 (R3). Downwards scenario: Our technical outlook would turn into negative side below the support level at 1.3516 (S1). Possible price depreciation would then be targeting support at 1.3504 (S2) en route to final target at 1.3492 (S3). Resistance Levels: 1.3541, 1.3553, 1.3566 Support Levels: 1.3516, 1.3504, 1.3492 -------------------------- GBPUSD : HIGH 1.61742 LOW 1.61456 BID 1.61462 ASK 1.61469 CHANGE -0.05% TIME 08 : 36:33 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Immediate resistance at 1.6174 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 1.6193 (R2) and any further rise would then be limited to final resistive measure at 1.6213 (R3) Downwards scenario: Opportunity for bearish oriented traders is seen below the important support level at 1.6133 (S1). Loss here would open door for the downtrend expansion towards to interim targets at 1.6114 (S2) and 1.6096 (S3). Resistance Levels: 1.6174, 1.6193, 1.6213 Support Levels: 1.6133, 1.6114, 1.6096 ------------------ USDJPY : HIGH 101.71 LOW 101.333 BID 101.551 ASK 101.555 CHANGE -0.12% TIME 08 : 36:34 OUTLOOK SUMMARY : Up TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Next actual resistance level is seen at 101.91 (R1). If the market manages to surge higher, our focus will shift to the next target at 102.15 (R2) and any further price strengthening would be limited to final resistance at 102.39 (R3). Downwards scenario: Any penetration below the support level at 101.32 (S1) might create more scope for the instrument weakness in near-term perspective. We are looking to our immediate supports at 101.10 (S2) and 100.86 (S3) as next possible targets. Resistance Levels: 101.91, 102.15, 102.39 Support Levels: 101.32, 101.10, 100.86 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 25 2013 Iran's real rises versus the U.S. dollar as historic agreement reached whilst oil falls circa one percent. Hedge-fund managers and other large institutional speculators increased their net-long position in two-year note futures to the highest level since August, according to U.S. Commodity Futures Trading Commission data. Speculative long positions, or bets that prices will rise, outnumbered short positions by 34,011 contracts in the week ending Nov. 19th on the Chicago Board of Trade, this was up 19 percent, from the week previous. The benchmark 10-year yield rose four basis points last week, or 0.04 percentage point, to 2.74 percent in New York. The price of the 2.75 percent note maturing in November 2023 was 100 2/32. A gauge of U.S. company credit risk fell to its lowest level since 2007 as job openings (JOLTS) climbed to a five-year high. The Markit CDX North American Investment Grade Index, a credit-default swaps benchmark investors use to hedge against losses, or to speculate on creditworthiness, decreased 1.7 basis points to 68.8 basis points in New York trading last week. The benchmark reached the lowest closing level since November 2007. Iran’s currency strengthened more than 2 percent as the Nation won access about $7 billion in relief from sanctions after agreeing to limit its nuclear program, ending a decade-long diplomatic stalemate. The rial appreciated by 2.3 percent to 29,300 a dollar on Sunday in Tehran compared with 30,000 yesterday, according to prices provided by street traders in the Iranian currency black market. The currency had lost more than half its value in the year before President Hassan Rouhani’s election in June, partly as a consequence of sanctions denying Iran access to the global financial system. Iran’s gross domestic product declined by approx. 5.4 percent in the fiscal year ending in March. Sanctions have pushed the country’s oil output to the lowest since 1990. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-25 15:00 GMT | USA. Pending Home Sales (YoY) (Oct) 2013-11-25 15:30 GMT | USA. Dallas Fed Manufacturing Business Index (Nov) 2013-11-25 22:00 GMT | Australia. RBA Deputy Governor Lowe Speech 2013-11-25 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes FOREX NEWS : 2013-11-25 06:16 GMT | Gold suffers intraday flash crash, off $12 from 1238.00 to 1,226.00 2013-11-25 05:16 GMT | AUD/USD breaks below Friday's low as bounces keep failing 2013-11-25 05:10 GMT | EUR/JPY touches Fibonacci projection at 137.90 and backs off temporarily 2013-11-25 04:41 GMT | GBP/JPY closes week above LT key level of 163.52; bears running for cover ------------------- EURUSD : HIGH 1.356 LOW 1.35368 BID 1.35368 ASK 1.35371 CHANGE -0.14% TIME 08 : 13:00 OUTLOOK SUMMARY : Down TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Next barrier on the upside lie at 1.3563 (R1). Surpassing of this level might enable our initial target at 1.3583 (R2) and any further gains would then be limited to last resistive structure at 1.3608 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.3520 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.3498 (S2) and 1.3473 (S3). Resistance Levels: 1.3563, 1.3583, 1.3608 Support Levels: 1.3520, 1.3498, 1.3473 ------------------- GBPUSD : HIGH 1.62401 LOW 1.62055 BID 1.62064 ASK 1.62073 CHANGE -0.1% TIME 08 : 13:01 OUTLOOK SUMMARY : Down TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Immediate resistance at 1.6236 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 1.6276 (R2) and any further rise would then be limited to final resistive measure at 1.6309 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.6188 (S1). Break here is required to open a route towards to next target at 1.6145 (S2) and then any further easing would be targeting final support at 1.6108 (S3). Resistance Levels: 1.6236, 1.6276, 1.6309 Support Levels: 1.6188, 1.6145, 1.6108 -------------------------- USDJPY : HIGH 101.917 LOW 101.139 BID 101.879 ASK 101.882 CHANGE 0.63% TIME 08 : 13:02 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Any upside action is limited now to the next resistive structure at 102.02 (R1). Clearance here might shift trader’s sentiment to bullish side and open road towards to our initial targets at 102.21 (R2) and 102.50 (R3). Downwards scenario: On the other hand, risk of correction development is seen below the next support at 101.20 (S1). Possible price downgrade would suggest next initial targets at 100.99 (S2) and 100.77 (S3). Resistance Levels: 102.02, 102.21, 102.50 Support Levels: 101.20, 100.99, 100.77 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 22 2013 DJIA closes above 16,000 for the first time as dollar yen rises above 101 Today we receive the data concerning Germany's final GDP figure expected in at 0.3% up, with the German IFO index expected in at 107.9. Friday also sees a raft of info. regarding Canada; core CPI data is published expected in flat, with CPI up 0.2%. Retail sales is predicted in up 0.5% for the month. Jolts job openings are published in the USA, it measures the number of job openings during the reported month, excluding the farming industry. The DJIA rose more than 100 points and finally closed above 16,000 for the first time in history on Thursday. The index crossed that psychological milestone earlier this week, but then sold off for three days as the index closed in the red. The S&P 500 also closed up, while the Nasdaq rose more than 1%. The yen fell 1.1 percent to 101.16 per dollar late in New York time Thursday, the weakest level seen since July 10th. Japan’s currency slid 1.4 percent to 136.37 per euro after declining to 136.40, the lowest since October 2009. The euro rose 0.3 percent to $1.3482. The U.S. Dollar Index, which tracks the currency versus 10 major counterparts, rose 0.2 percent to 1,020.97 after advancing 0.4 percent Wednesday. The dollar gauge breached its 100- and 200-day moving averages as it approached a two-month high. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-22 07:00 GMT | DE Gross Domestic Product w.d.a (YoY) 2013-11-22 09:30 GMT | ECB President Draghi's Speech 2013-11-22 13:30 GMT | CA Consumer Price Index (YoY) (Oct) 2013-11-22 13:30 GMT | CA Retail Sales (MoM) (Sep) FOREX NEWS : 2013-11-22 06:47 GMT | EUR/USD tests highs ahead of German data 2013-11-22 06:34 GMT | GBP/USD nearing upper edge of two-month trading range 2013-11-22 05:39 GMT | USD/JPY retests 101.00 bids, 101.30+ double topside failure 2013-11-22 03:41 GMT | AUD/USD bearish party goes on, 0.92 gives up EURUSD : HIGH 1.34895 LOW 1.34624 BID 1.34837 ASK 1.34840 CHANGE 0.02% TIME 08 : 57:07 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Further upwards penetration might face next challenge at 1.3495 (R1). Break here would suggest next target at 1.3513 (R2) en route towards to last resistance for today at 1.3530 (R3). Downwards scenario: On the downside, support level at 1.3462 (S1) limits possible downtrend expansion. Break here is required to enable lower target at 1.3444 (S2) en route to final aim at 1.3426 (S3). Resistance Levels: 1.3495, 1.3513, 1.3530 Support Levels: 1.3462, 1.3444, 1.3426 -------------------- GBPUSD : HIGH 1.62046 LOW 1.61764 BID 1.61945 ASK 1.61952 CHANGE -0.02% TIME 08 : 57:08 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: An element of resistive measure could be found at 1.6213 (R1). Clearance here would open way towards to higher target at 1.6242 (R2) and any further rise would then be limited to last resistance at 1.6271 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support barrier at 1.6178 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.6150 (S2) and 1.6122 (S3) in potential Resistance Levels: 1.6213, 1.6242, 1.6271 Support Levels: 1.6178, 1.6150, 1.6122 -------------------------- USDJPY : HIGH 101.353 LOW 100.956 BID 100.997 ASK 100.999 CHANGE -0.15% TIME 08 : 57:10 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 101.36 (R1) would suggest next targets at 101.58 (R2) and 101.81 (R3). Downwards scenario: On the other side, a dip below the initial support level at 100.84 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 100.62 (S2) and 100.39 (S3) in potential. Resistance Levels: 101.36, 101.58, 101.81 Support Levels: 100.84, 100.62, 100.39 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 21 2013 European manufacturing PMIs published Thursday could indicate the ECB's next move on interest rates Thursday sees the publication of Germany's and France's flash manufacturing and service PMIs together with Europe's which is expected to print at 51.6 for manufacturing and 51.9 for services. The RBA governor of Australia holds court on Thursday, whilst the UK's public net sector borrowing is published expected slightly up in at £10.1 bn. USA PPI is expected in at -0.1% whilst unemployment numbers are expected in at 333K, slightly up from the previous week. Flash manufacturing data is expected to print at 52.6. Europe's consumer confidence is expected in at -14.1 with the Philly manufacturing index for the USA expected in at 15.1, down from 19.8 the previous month. Perhaps the most illuminating comment in the latest FOMC meeting minutes, published late Wednesday evening, was the commitment that; "the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends". The U.S. Dollar Index, which monitors the greenback against 10 major peers, increased for the first time in four days, adding 0.4 percent to 1,019.10 yen late in New York. The euro declined 0.9 percent to 134.34 yen after earlier touching 135.95, the strongest level since October 2009. The shared currency fell 0.8 percent to $1.3435. The dollar slid 0.1 percent to 99.99 yen. The dollar rose versus most major peers as Federal Reserve officials said they might reduce their $85 billion in monthly bond purchases “in coming months” as the economy improves, minutes of their last meeting show. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-21 08:58 GMT | EMU Markit Manufacturing PMI (Nov) 2013-11-21 09:05 GMT | RBA's Governor Glenn Stevens Speech 2013-11-21 10:05 GMT | ECB President Draghi's Speech 2013-11-21 13:30 GMT | US Producer Price Index (YoY) (Oct) FOREX NEWS : 2013-11-21 06:15 GMT | USD/JPY cracks 100.60, new 6-month high 2013-11-21 05:05 GMT | EUR/USD maintains bearish pressure, 1.3390 is critical support Thursday 2013-11-21 04:31 GMT | AUD/USD bearish march pauses at 0.93 ahead of RBA Stevens 2013-11-21 03:24 GMT | BoJ keeps policy unchanged, retains 60T-70T easing plan EURUSD : HIGH 1.3442 LOW 1.34136 BID 1.34286 ASK 1.34289 CHANGE -0.07% TIME 08 : 37:15 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: EURUSD tested negative side recently, however we see potential to test resistive barrier at 1.3462 (R1) later on today. Successful penetration above that level would suggest next intraday targets at 1.3492 (R2) and 1.3525 (R3) later on today. Downwards scenario: Fresh low offers a key supportive measure at 1.3412 (S1) on a downside. A violation here is liable to commence correction pattern on the bigger picture and expose our initial targets at 1.3380 (S2) and 1.3348 (S3). Resistance Levels: 1.3462, 1.3492, 1.3525 Support Levels: 1.3412, 1.3380, 1.3348 ---------------------- GBPUSD : HIGH 1.61082 LOW 1.60721 BID 1.60860 ASK 1.60869 CHANGE -0.11% TIME 08 : 37:16 OUTLOOK SUMMARY : Neutral TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: GBPUSD trapped to the consolidation phase on the hourly chart frame. Break of resistive level at 1.6177 (R1) is required to enable upwards action. Next visible targets are seen at 1.6220 (R2) and 1.6260 (R3). Downwards scenario: However, if the price manages to break our key support level at 1.6057 (S1) bearish market participants might take the initiative. Our intraday support level locates at 1.6018 (S2) and 1.5978 (S3). Resistance Levels: 1.6177, 1.6220, 1.6260 Support Levels: 1.6057, 1.6018, 1.5978 -------------------- USDJPY : HIGH 100.812 LOW 100.006 BID 100.690 ASK 100.694 CHANGE 0.66% TIME 08 : 37:17 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Market gained momentum on the upside recently and turned short-term tendency to the positive side. Further appreciation above the resistance at 100.88 (R1) might push the price towards to our targets at 101.12 (R2) and 101.36 (R3) later on today. Downwards scenario: Our next support level is placed at 100.44 (S1). Possible penetration below it might initiate bearish pressure and push the price towards to our intraday targets at 100.19 (S2) and 99.95 (S3). Resistance Levels: 100.88, 101.12, 101.36 Support Levels: 100.44, 100.19, 99.95 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 19 2013 Dow Jones Index breaks 16000 as SPX and NASDAQ sell off at key levels, as Troika talks will resume in Athens this week Tuesday sees the publication of the ZEW German sentiment index and the ZEW Europe sentiment index. Both indices are expected to rise, Germany's up to 54.6 and Europe's up to 63.1. Two more FOMC members are due to speak, Dudley and Evans, whilst treasury secretary Lew is due to speak, the man who 'knocked heads' together over the debt impasse. Later in the evening Ben Bernanke holds court. New Zealand's PPI is published with the expectation of a number similar to the 0.6% of the previous month. Japan's trade balance is expected in at -0.88 trillion, with the all industries activity expected in at 0.5% up 0.2%. Greece's finance minister Yannis Stournaras will hold another session of talks with the country's various lenders this week. Relations between the Athens government and officials from the IMF/EC and ECB are tense, with little in the way of an agreement over how to address the fiscal gap in Greece's 2014 financial projections. That shortfall is estimated at €1.5bn and there's no roadmap in place as to how it will be fixed, although bond holders taking another haircut seems the most obvious solution. Looking towards equity index futures the DJIA is up 0.16%, SPX down 0.27%. European equity indices are up; STOXX up 0.88%, DAX up 0.65%, CAC up 0.64%, fits equity index future up 0.49%. On Monday NYMEX WTI oil closed the day down 0.88% at $93.01 per barrel, NYMEX nat gas down 1.17% at $3.62 per therm. COMEX gold closed the day down 0.95% at $1275.20 per ounce, silver on COMEX down 1.79% at $20.36 per ounce. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-19 10:00 GMT | DE ZEW Survey - Economic Sentiment (Nov) 2013-11-19 13:45 GMT | US Treasury Sec Lew Speech 2013-11-19 23:30 GMT | AU Westpac Leading Index (MoM) (Sep) 2013-11-19 23:50 GMT | JP Merchandise Trade Balance Total (Oct) FOREX NEWS : 2013-11-19 06:50 GMT | EUR/USD parked around 1.3500 2013-11-19 06:02 GMT | AUD bids expected on largest Australian bond deal issuance 2013-11-19 04:04 GMT | Dovish Yellen may limit further USD longs by specs - Rabobank 2013-11-19 02:28 GMT | EUR/JPY wants to consolidate 134.70 front ---------------------- EURUSD : HIGH 1.35231 LOW 1.34989 BID 1.35143 ASK 1.35148 CHANGE 0.07% TIME 08:52:00 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium 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 1.3530 (R1) is required to push the price towards to our next visible targets at 1.3549 (R2) and 1.3567 (R3). Downwards scenario: On the downside we see potential to positively retest our supportive measure at 1.3494 (S1). Clearance here is required to open route towards to our initial targets at 1.3474 (S2) and 1.3454 (S3) in potential. Resistance Levels: 1.3530, 1.3549, 1.3567 Support Levels: 1.3494, 1.3474, 1.3454 --------------------- GBPUSD : HIGH 1.61242 LOW 1.60964 BID 1.61032 ASK 1.61041 CHANGE -0.04% TIME 08:52:01 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 1.6148 (R1) would enable intraday targets at 1.6177 (R2) and 1.6206 (R3). Downwards scenario: Risk of possible price depreciation is seen below the support level at 1.6081 (S1). Break here is required to open the way towards to immediate supports at 1.6053 (S2) and 1.6025 (S3). Resistance Levels: 1.6148, 1.6177, 1.6206 Support Levels: 1.6081, 1.6053, 1.6025 ---------------- USDJPY : HIGH 100.001 LOW 99.571 BID 99.821 ASK 99.825 CHANGE -0.17% TIME 08:52:02 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: On the upside potential is seen for a break above the resistance at 100.20 (R1). In such case we would suggest next target at 100.41 (R2) and any further rise would then be limited to final resistance at 100.62 (R3). Downwards scenario: We expect further correction evolvement if the price manages to overcome key supportive bastion at 99.56 (S1). In such case we would suggest next intraday targets at 99.35 (S2) and 99.13 (S3). Resistance Levels: 100.20, 100.41, 100.62 Support Levels: 99.56, 99.35, 99.13 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 15 2013 European inflation is expected to fall to 0.7% whilst the USA empire manufacturing survey is expected to rise. The European CPI figure is published on Friday expected in at 0.7% year on year. Canada's manufacturing sales is expected in up 0.5%. The USA empire manufacturing survey is expected to print at 5.2 up from the previous month's 1.5. Import prices month on month are expected in down 0.4% whilst industrial production is expected in at 0.1% up for the month. The DJIA closed up 0.35% on Thursday, SPX up 0.48%, NASDAQ up 0.18%. European indices recovered strongly from the previous day's fall; STOXX up 1.08%, CAC up 1.04%, DAX up 1.05%, FTSE up 0.54%. Looking towards equity index futures the DJIA is up 0.38%, SPX up 0.52% and NASDAQ up 0.26%, CAC up 1.02%, DAX up 1.12%, FTSE up 0.57%. NYMEX WTI oil closed up 0.06% at $93.94 per barrel, NYMEX nat gas up 1.46% at $3.62 per therm. COMEX gold closed up on the day 1.43% at $1286.50 per ounce The U.S. Dollar Index, which monitors the greenback versus 10 major counterparts, was little changed at 1,018.81 at 3:19 p.m. in New York after dropping to 1,015.83, the lowest since Nov. 7th. The yen fell 0.8 percent to 100.06 per dollar after touching 100.15, the weakest level since Sept. 11th. Japan’s currency declined 0.6 percent to 134.68 per euro. The euro slid 0.2 percent to $1.3461 after declining as much as 0.5 percent. The dollar rose from the lowest level in a week as investors believe that the Federal Reserve is still moving toward reducing its bond buying after chairman-nominee Janet Yellen said it “will not continue indefinitely.” http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 24h | EMU EcoFin Meeting 2013-11-15 10:00 GMT | EMU Consumer Price Index (YoY) 2013-11-15 13:30 GMT | US Export Price Index (YoY) (Oct) 2013-11-15 14:15 GMT | US Industrial Production (MoM) (Oct) FOREX NEWS : 2013-11-15 06:44 GMT | EUR/GBP remains weak as Friday wears on; European data looms 2013-11-15 06:35 GMT | USD/JPY re-visits 100.00 as intra-day specs sell-off 2013-11-15 05:47 GMT | Aussie Dollar the biggest mover in an overall quiet session 2013-11-15 05:27 GMT | EUR/USD should head towards 1.20 - Societe Generale EURUSD : HIGH 1.34639 LOW 1.34453 BID 1.34595 ASK 1.34598 CHANGE 0.03% TIME 08:44:33 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: EURUSD commenced consolidation phase, however, appreciation above the next resistance at 1.3488 (R1) might be a good catalyst for an upwards formation towards to next targets at 1.3511 (R2) and 1.3533 (R3). Downwards scenario: Risk of possible price regress is seen below the support level at 1.3433 (S1). Break here would suggest lower targets at 1.3412 (S2) and 1.3390 (S3) in potential. Resistance Levels: 1.3488, 1.3511, 1.3533 Support Levels: 1.3433, 1.3412, 1.3390 ---------------------- GBPUSD : HIGH 1.60819 LOW 1.60512 BID 1.60791 ASK 1.60797 CHANGE 0.09% TIME 08:44:34 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Possible upwards extension above the resistive measure at 1.6101 (R1) is liable to commence medium-term bullish structure. Our intraday targets locates at 1.6134 (R2) and 1.6167 (R3) price levels. Downwards scenario: On the other hand, our next supportive barrier at 1.6031 (S1) prevents further downtrend expansion. Break here is required to enable lower targets at 1.5997 (S2) and 1.5964 (S3) in potential. Resistance Levels: 1.6101, 1.6134, 1.6167 Support Levels: 1.6031, 1.5997, 1.5964 --------------------- USDJPY : HIGH 100.305 LOW 99.94 BID 100.017 ASK 100.020 CHANGE 0.02% TIME 08:44:35 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Measures of resistance might be activating when the pair approaches 100.31 (R1). Break here would suggest next interim target at 100.57 (R2) and If the pair keeps its momentum we would expect an exposure of 100.82 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 99.79 (S1). Loss here would suggest to monitor marks at 99.52 (S2) and 99.26 (S3) as possible intraday targets. Resistance Levels: 100.31, 100.57, 100.82 Support Levels: 99.79, 99.52, 99.26 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 14 2013 Fed chairperson delegate Janet Yellen states USA far from being able to taper asset purchase programme. French and German preliminary GDP figures are published on Thursday, Germany's is expected in at 0.3% with France's at 0.1%. Italy's is expected in at -0.3%. Europe's flash GDP number is expected in at 0.2%. The ECB will publish its monthly bulletin on Thursday, whilst the UK's retail sales are expected to be flat, but could register a fall if consumers keep their hands in their pockets with Xmas being so close. Canada's trade balance is expected in at $1.2 bn for the month, whilst the USA trade balance for the month is expected in at -$34 billion, a near mirror opposite of Germany's positive €34 billion figure. Unemployment claims in the USA for the week are predicted in at 331K. The weekly oil and gas storage inventory data is published with oil expected in at a low print of 0.7. The DJIA closed up 0.45% on Wednesday, the SPX up 0.81% and the NASDAQ up 1.16%. European markets were mainly in the red; STOXX down 0.45%, CAC down 0.56%, DAX down 0.24% and UK FTSE down a substantial 1.44% after a negative reaction to the UK's BoE inflation report. Looking towards the market opening on Thursday November 14th the DJIA future is up 0.44%, SPX up 0.82% and the NASDAQ up 1.1%. The STOXX index is down 0.53%, DAX doe 0.36% and CAC down 0.55%. NYMEX WTI oil is up 0.60% at $93.60 per barrel, NYMEX nat gas is down 1.58% $3.56 per therm, COMEX gold is up 0.87% at $1282 per ounce, COMEX silver down 0.78% at $20.62 per ounce. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-14 09:00 GMT | EMU ECB Monthly Report 2013-11-14 09:30 GMT | UK Retail Sales (YoY) (Oct) 2013-11-14 10:00 GMT | EMU Gross Domestic Product s.a. (YoY) (Q3) 2013-11-14 15:00 GMT | FOMC Member Yellen Speech FOREX NEWS : 2013-11-14 06:38 GMT | GBP/USD had “abc” correction in first few hours of Asian session; now working higher 2013-11-14 05:48 GMT | BoE's Fisher: we won't raise rates any time soon 2013-11-14 05:06 GMT | Nikkei surges above 2% in sympathy with Wall Street 2013-11-14 05:00 GMT | USD/CHF continues expected pullback – with extra “oomph” from Fed’s dovish comments ------------------- EURUSD HIGH 1.34976 LOW 1.34631 BID 1.34675 ASK 1.34678 CHANGE -0.13% TIME 08 : 44:13 OUTLOOK SUMMARY Up TREND CONDITION Upward penetration TRADERS SENTIMENT Bearish IMPLIED VOLATILITY High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 1.3495 (R1), break here would suggest next intraday targets at 1.3519 (R2) and 1.3542 (R3). Downwards scenario: Possible downside extension is limited now to the support level at 1.3456 (S1). Break here is required to open a route towards to next target at 1.3433 (S2) and then any further easing would be targeting final support at 1.3410 (S3). Resistance Levels: 1.3495, 1.3519, 1.3542 Support Levels: 1.3456, 1.3433, 1.3410 ---------------------- GBPUSD : HIGH 1.60651 LOW 1.60272 BID 1.60390 ASK 1.60396 CHANGE -0.1% TIME 08 : 44:15 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: GBPUSD is approaching our next resistive measure at 1.6079 (R1). Break here is required to initiate upside pressure towards to next target at 1.6109 (R2) and then resistance at 1.6139 (R3) acts as last attractive point for today. Downwards scenario: Possible price depreciation is limited to support level at 1.6010 (S1). Break here is required to enable possible retracement action towards to our next targets at 1.5980 (S2) and 1.5949 (S3) in potential. Resistance Levels: 1.6079, 1.6109, 1.6139 Support Levels: 1.6010, 1.5980, 1.5949 --------------------- USDJPY : HIGH 99.727 LOW 99.135 BID 99.612 ASK 99.616 CHANGE 0.39% TIME 08 : 44:16 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Neutral Upwards scenario: We see potential of further instrument appreciation in near term perspective. Clearance of our next resistive structure at 99.79 (R1) would open way towards to next target at 100.00 (R2) and any further rise would then be targeting 100.21 (R3). Downwards scenario: Possible retracement formation is limited now to support level at 99.42 (S1). If the price manages to surpass it, we would suggest next intraday targets at 99.22 (S2) and 99.01 (S3). Resistance Levels: 99.79, 100.00, 100.21 Support Levels: 99.42, 99.22, 99.01 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 13 2013 Japan's preliminary GDP figures are expected in up 0.4% as Ben Bernanke gives a speech European markets take centre stage on Wednesday, the UK's claimant count data is published, with the rate of unemployment scheduled to fall to 7.6% of the workforce. Industrial production for Europe is scheduled to fall by 0.2%. Later the BoE governor Carney delivers the bank's quarterly inflation report. Later on the German Bundesbank president Weidmann speaks and despite the German central bank not being in control of its money supply, or interest rate setting, the bank is still amongst the most respected banking institutions globally. The USA federal budget balance is scheduled to deliver what many may consider a rogue outlier number, predictions suggest a figure of -$103 billion will be published when last months' figure was a positive $73 billion. Later on in the late evening trading session we receive New Zealand's retail sales figures expected in at 0.9%. Thereafter Japan's preliminary GDP figure is expected to print at 0.4%. The Fed chairman Ben Bernanke gives a speech, whilst China reveals its percentage rise in foreign firms' investments and finally Japan delivers it's revised industrial prod ruins figures expected in at 1.5% up month on month. Looking towards the opening sessions on Wednesday the DJIA future is down 0.07%, SPX down 0.14% and the NASDAQ up 0.31%. European indices look weak; STOXX down 0.59%, DAX down 0.37%, CAC down 0.60% and UK FTSE down 0.14%. NYMEX WTI oil closed the day down 2.18% at $93.07 per barrel. NYMEX nat gas was up 2.01% on the day at $3.65 per therm. COMEX gold closed the day down 1.09% at $1267.20 per ounce with silver down 2.69% at $20.71 per ounce. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-13 09:30 GMT | UK.ILO Unemployment Rate (3M) (Sep) 2013-11-13 10:00 GMT | EU.Industrial Production w.d.a. (YoY) (Sep) 2013-11-13 10:30 GMT | UK.Bank of England Quarterly Inflation Report 2013-11-13 12:00 GMT | US.MBA Mortgage Applications (Nov 8) FOREX NEWS : 2013-11-13 05:50 GMT | EUR/USD edges higher; momentum bias still negative 2013-11-13 05:03 GMT | AUD/CHF slightly higher; both components under pressure 2013-11-13 04:40 GMT | GBP/JPY back down at 158 after failing to conquer 159 for days 2013-11-13 04:19 GMT | EUR/JPY in consolidation mode ------------------- EURUSD : HIGH 1.34525 LOW 1.34296 BID 1.34427 ASK 1.34429 CHANGE 0.05% TIME 07 : 58:31 OUTLOOK SUMMARY : Up TREND CONDITION : Down trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Next barrier on the upside lie at 1.3456 (R1). Surpassing of this level might enable our initial target at 1.3484 (R2) and any further gains would then be limited to last resistive structure at 1.3510 (R3). Downwards scenario: On a slightly longer term we expect pullback formation. Risk of market depreciation is seen below the next support level at 1.3426 (S1). Clearance here would suggest lower targets at 1.3402 (S2) and 1.3374 (S3) in potential. Resistance Levels: 1.3456, 1.3484, 1.3510 Support Levels: 1.3426, 1.3402, 1.3374 ------------------------- GBPUSD : HIGH 1.59073 LOW 1.58855 BID 1.58930 ASK 1.58933 CHANGE -0.08% TIME 07:58:32 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.5919 (R1). Clearance here is required to validate next interim target at 1.5938 (R2) and any further rise would then be targeting mark at 1.5962 (R3). Downwards scenario: Risk of market decline is seen below the next support level at 1.5888 (S1). Loss here might downgrade currency rate towards to the next supportive means at 1.5866 (S2) and 1.5848 (S3) in potential. Resistance Levels: 1.5919, 1.5938, 1.5962 Support Levels: 1.5888, 1.5866, 1.5848 -------------------------- USDJPY : HIGH 99.673 LOW 99.428 BID 99.519 ASK 99.521 CHANGE -0.11% TIME 07 : 58:32 OUTLOOK SUMMARY : Down TREND CONDITION : Up trend TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: Next hurdle on the upside is seen at important technical level – 99.80 (R1). If the price manages to overcome it we expect further acceleration towards to our initial targets at 99.97 (R2) and 100.09 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 99.47 (S1). Break here is required to open a route towards to next target at 99.32 (S2) and then any further easing would be targeting final support at 99.16 (S3). Resistance Levels: 99.80, 99.97, 100.09 Support Levels: 99.47, 99.32, 99.16 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 12 2013 USA small business optimism loses ground in October. In the overnight early morning trading session we'll receive the publication of the Australian NAB business confidence report. Japan will release its consumer confidence index, predicted to come in at 46.3. UK inflation figures are published in the London session, expected to come in at 2.5% for CPI and 3% for RPI. The USA small business index is published in the afternoon session expected in at 93.5, as is the RBNZ financial stability report for New Zealand. It provides insights into the bank's view of inflation, growth, and other economic conditions that will affect interest rates in the future. The RBNZ governor Wheeler will then hold court shortly after the financial stability report to discuss the current state of the nation's finances. The NFIB Index of Small Business Optimism in the USA has lost 2.3 points to 91.6. Two components, the outlook for business conditions and the outlook for real sales gains, accounted for 52 percent of the Index decline. A weaker outlook for business produced dissatisfaction with inventory stocks, and fewer plans to create new jobs. The average value of the Index since the recovery started is 91. Looking towards tomorrow's open the DJIA equity index future is up 0.18%, SPX up 0.09% and the NASDAQ future is currently at the time of writing down 0.15%. The DAX future is up 0.48%, STOXX up 0.69% and CAC up 0.81% with UK FTSE up 0.43%. The DJIA closed up 0.14%, the SPX up 0.07% and the NASDAQ up 0.01%. Looking at Europe's bourses the STOXX index closed up 0.59%, CAC up 0.70%, DAX up 0.33%, and the UK FTSE up 0.30%. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-12 09:30 GMT | UK Core Consumer Price Index (YoY) (Oct) 2013-11-12 13:30 GMT | US Chicago Fed National Activity Index (Sep) 2013-11-12 20:00 GMT | RBNZ Financial Stability Report 2013-11-12 23:50 GMT | JP Machinery Orders (YoY) (Sep) FOREX NEWS : 2013-11-12 07:16 GMT | EUR/USD dips to lows on German data 2013-11-12 06:56 GMT | GBP/USD deflates to session lows 2013-11-12 05:28 GMT | EUR/GBP on the soggy side 2013-11-12 05:07 GMT | GBP/AUD soars on solid UK home data, struggling Aussie ---------------------- EURUSD HIGH 1.34137 LOW 1.33798 BID 1.33938 ASK 1.33941 CHANGE -0.09% TIME 09 : 51:38 OUTLOOK SUMMARY : Neutral TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Possibility of further price progress is seen above the next resistance level at 1.3438 (R1). Breakthrough here would suggest interim target at 1.3485 (R2) and then mark at 1.3532 (R3) acts as next attractive point. Downwards scenario: Risk of market weakening is seen below the support level at 1.3368 (S1). Loss here is required to enable our supportive barrier at 1.3317 (S2) en route towards to final target for today at 1.3270 (S3). Resistance Levels: 1.3438, 1.3485, 1.3532 Support Levels: 1.3368, 1.3317, 1.3270 -------------------------- GBPUSD : HIGH 1.59922 LOW 1.59513 BID 1.59573 ASK 1.59577 CHANGE -0.2% TIME 09 : 51:38 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Measures of resistance might be activating if the pair approaches 1.5978 (R1) price level. Break here would suggest next interim target at 1.6005 (R2) and If the price keeps its momentum we expect an exposure of 1.6031 (R3). Downwards scenario: On the other hand, progress below the initial support level at 1.5932 (S1) might initiate bearish pressure and expose our intraday targets at 1.5907 (S2) and 1.5880 (S3) later on today. Resistance Levels: 1.5978, 1.6005, 1.6031 Support Levels: 1.5932, 1.5907, 1.5880 ---------------------- USDJPY : HIGH 99.731 LOW 99.104 BID 99.688 ASK 99.692 CHANGE 0.53% TIME 09 : 51:39 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Further price appreciation needs to clear the barrier at 99.86 (R1) to enable our interim target at 100.06 (R2) and then any further gains would be limited to last resistance at 100.25 (R3). Downwards scenario: On the downside, USDJPY might encounter supportive measures at 99.30 (S1). Break here would open the way for a test of our next targets at 99.10 (S2) and 98.89 (S3) later on today. Resistance Levels: 99.86, 100.06, 100.25 Support Levels: 99.30, 99.10, 98.89 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 11 2013 China's Plenum meeting could have a profound impact for global markets Monday sees several bank holidays that will affect the volume of trading activity during the various trading sessions. France, Canada and the USA have bank holidays. The German Bundesbank president Weidmann will hold court with a conference on Monday. Whilst the German central bank is subservient and defers to the ECB, on matters such as quantitative easing and rate setting, investors and analysts will look for 'code' in Weidmann's speech concerning the direction the singular German economy will be headed for and directed towards over coming months. Towards the end of the trading day we'll receive the consumer confidence publication from Australia's National Bank. The previous month's reading came in at 12, a print close to this figure is expected. Sterling posted its first weekly advance in three versus the dollar as reports showed British services growth unexpectedly accelerated in October to the fastest pace in 16 years. U.K. government bonds declined for a second week as the Bank of England kept its key interest rate at a record low, whilst maintaining its bond-buying stimulus target. The pound climbed versus the euro for a second week, rising the most since April, after the European Central Bank unexpectedly lowered its benchmark interest rate, boosting demand for the U.K. currency. Benchmark 10-year yields reached the highest level in seven weeks last week after payrolls grew by 204,000 in October versus the 120,000 median forecast. U.S. debt rallied after the European Central Bank cut its benchmark interest rate to a record to address prolonged price weakness. The USA Treasury will auction $70 billion of notes and bonds this week. Treasuries fell the most in two months as reports showed the economy expanded in the third quarter beyond projections, boosting speculation the Federal Reserve is moving closer to 'tapering' its $85 billion of monthly bond-buying. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-11 09:00 GMT | IT Industrial Output s.a. (MoM) (Sep) 2013-11-11 17:00 GMT | DE German Buba President Weidmann speech 2013-11-11 23:30 GMT | AU Westpac Consumer Confidence Index (Nov) 2013-11-11 23:50 GMT | JP Tertiary Industry Index (MoM) (Sep) FOREX NEWS : 2013-11-11 04:55 GMT | EUR/JPY loses momentum in late Asian trading session 2013-11-11 04:55 GMT | GBP/USD, another 1.5900 retest on deck - 2ndSkies 2013-11-11 04:36 GMT | EUR/USD should see sell on strength circa 1.3375 - JPMorgan 2013-11-11 04:19 GMT | AUD/USD sideways after solid Australian home data ---------------------- EURUSD : HIGH 1.33671 LOW 1.33448 BID 1.33657 ASK 1.33659 CHANGE -0.01% TIME 08 : 29:13 OUTLOOK SUMMARY : Down TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low MARKET ANALYSIS - Intraday Analysis Upwards scenario: While price is quoted below the moving averages our medium-term technical outlook would be negative. Though, appreciation above the resistance at 1.3438 (R1) might enable upwards penetration towards to next targets at 1.3492 (R2) and 1.3543 (R3). Downwards scenario: On the downside bearish pressure might push the price below the support at 1.3317 (S1). Further downside extension would open road towards to next target at 1.3262 (S2) and any further losses would then be limited to 1.3209 (S3) mark. Resistance Levels: 1.3438, 1.3492, 1.3543 Support Levels: 1.3317, 1.3262, 1.3209 -------------------------- GBPUSD : HIGH 1.60216 LOW 1.59978 BID 1.60182 ASK 1.60187 CHANGE 0.01% TIME 08 : 29:13 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low Upwards scenario: GBPUSD commenced consolidation pattern, however, price strengthening above the next resistive structure at 1.6058 (R1) might activate short-term bullish pressure and expose our intraday targets at 1.6085 (R2) and 1.6112 (R3). Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the next support level at 1.5993 (S1) is being able to drive market price towards to our next targets at 1.5968 (S2) and 1.5942 (S3). Resistance Levels: 1.6058, 1.6085, 1.6112 Support Levels: 1.5993, 1.5968, 1.5942 ------------------ USDJPY : HIGH 99.225 LOW 98.94 BID 98.953 ASK 98.955 CHANGE -0.09% TIME 08 : 29:14 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Low Upwards scenario: After the strong appreciation on Friday we expect to see some consolidation ahead. Though clearance of next resistance level at 99.23 (R1) might enable bullish pressure and open route towards to our next targets at 99.41 (R2) and 99.60 (R3). Downwards scenario: On the other hand, recovery phase might commence below the important support level at 98.85 (S1). Break here is required to validate our targets at 98.65 (S2) and 98.47 (S3) later on today. Resistance Levels: 99.23, 99.41, 99.60 Support Levels: 98.85, 98.65, 98.47 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 08 2013 The markets expect a very poor NFP print of circa 121K. European news events in the morning session mainly concern the UK's balance of payments, expected in at -9.1billion and Germany's trade balance is expected in at +17.2 billion. North American employment figures for Canada and the USA are published in the afternoon trading session. Canada's unemployment rate is expected to rise to 7.0%, whilst the NFP jobs report for the USA is predicted to show that only 121K jobs were created in October. The unemployment rate in the USA may climb to 7.3%. The preliminary University of Michigan sentiment report is published expected to show a figure of 74.6. China delivers a raft of information late on Friday evening, the high impact news items will centre on the inflation levels, CPI expected in at 3.3%, new loans at circa 800 bn, and industrial production expected in at 10.1% up year on year. NYMEX WTI oil closed down on the day by 0.63% at $94.20 per barrel, NYMEX natural gas closed up on the day 0.60%, COMEX gold closed down 0.71% at $1308.50 per ounce, COMEX silver down 0.50% at $21.66 per ounce. Equity index futures are pointing to the main European and USA markets opening in negative territory. The DJIA is down 0.64%, the SPX down 1.16%, the NASDAQ down 1.67%. STOXX future is down 0.33%, DAX future up 0.51%, CAC future down 0.14%, and the UK FTSE future is down 0.73%. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-08 07:00 GMT | DE Trade Balance s.a. (Sep) 2013-11-08 09:30 GMT | UK Total Trade Balance (Sep) 2013-11-08 13:30 GMT | US Nonfarm Payrolls (Oct) 2013-11-08 13:30 GMT | CA Unemployment Rate (Oct) FOREX NEWS : 2013-11-08 06:13 GMT | S&P downgrades France to AA from AA+, outlook stable 2013-11-08 05:49 GMT | AUD/USD peels back to opening levels 2013-11-08 05:00 GMT | USD/CHF well above the 0.9150 area 2013-11-08 04:56 GMT | US Non-Farm Payrolls will likely continue the volatility party that started Thursday ---------------------- EURUSD : HIGH 1.34241 LOW 1.33885 BID 1.33984 ASK 1.33987 CHANGE -0.15% TIME 08 : 40:29 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Appreciation above the resistance at 1.3453 (R1) might commence new step of the ascending structure. Our intraday targets today are placed at 1.3502 (R2) and 1.3551 (R3). Downwards scenario: Risk of possible price depreciation is seen below the support at 1.3296 (S1). Loss here might enable bearish pressure and drive market price towards to next targets at 1.3248 (S2) and 1.3199 (S3) later on today. Resistance Levels: 1.3453, 1.3502, 1.3551 Support Levels: 1.3296, 1.3248, 1.3199 ----------------- GBPUSD : HIGH 1.6102 LOW 1.60784 BID 1.60945 ASK 1.60947 CHANGE 0.01% TIME 08 : 40:29 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: We see potential of market strengthening in near-term perspective. Next on tap is seen resistance level at 1.6117 (R1). Break here would suggest next intraday targets at 1.6138 (R2) and 1.6158 (R3). Downwards scenario: Break of support at 1.6065 (S1) is required to determine negative intraday bias and enable lower target at 1.6043 (S2). Clearance of this target would open a path towards to final support at 1.6023 (S3). Resistance Levels: 1.6117, 1.6138, 1.6158 Support Levels: 1.6065, 1.6043, 1.6023 ----------------- USDJPY : HIGH 98.255 LOW 98.039 BID 98.107 ASK 98.109 CHANGE 0.03% TIME 08 : 40:30 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : High Upwards scenario: On the upside resistive structure at 98.27 (R1) prevents possible gains. Clearance here is required to open route towards to next target at 98.41 (R2) and then final target could be triggered at 98.55 (R3). Downwards scenario: Current price pattern suggests bearish potential if the pair manages to overcome next support level at 97.89 (S1). Possible price regress could expose our initial targets at 97.75 (S2) and 97.62 (S3) later on today. Resistance Levels: 98.27, 98.41, 98.55 Support Levels: 97.89, 97.75, 97.62 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 07 2013 Interest rate settings in Europe and USA GDP take centre stage on Thursday It's a day of rate setting decisions in Europe on Thursday; the UK's BoE MPC is predicted to leave base rates at 0.5% and the quantitative easing levels at $375 bn. The ECB is also predicted to leave base rates at their current level at 0.50% the accompanying press statement may indicated when (and if) the ECB may alter that plan. In the USA the GDP figures are released, expected to come in at 2.0%, whilst unemployment claims for the week are expected to stay in the stubborn range at circa 336K. Later in the afternoon the ECB president Mario Draghi will hold court at a press gathering explaining the current economic situation in Europe and the decisions made earlier regarding the rate setting. Later in the evening the trade balance for China is expected to print at 23.5 billion up from 15.2 billion the previous month, whilst Australia's RBA delivers its monetary policy statement. Looking towards Thursday's market open the DJIA equity index future is currently up 0.86%, the SPX up 0.52%. The FTSE equity index future is up 0.16%, CAC up 0.82% and the DAX up 0.37% all indices suggesting a positive open across the majority of bourses. The euro strengthened 0.3 percent to $1.3513 late in New York on Wednesday after declining to $1.3442 on Nov. 4th, the weakest level since Sept. 18th. The common currency rose 0.4 percent to 133.31 yen. The dollar strengthened 0.2 percent to 98.66 yen. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-07 12:00 GMT | BoE Interest Rate Decision 2013-11-07 12:45 GMT | ECB Interest Rate Decision (Nov 7) 2013-11-07 13:30 GMT | EMU ECB Monetary policy statement and press conference 2013-11-07 13:30 GMT | USA Gross Domestic Product Annualized (Q3) FOREX NEWS : 2013-11-07 05:57 GMT | EUR/GBP off of session lows as traders position themselves ahead of BOE and ECB 2013-11-07 05:14 GMT | Is fading Euro strength the best play of the week? 2013-11-07 04:34 GMT | GBP/JPY capped by 159.00 2013-11-07 03:49 GMT | GBP/USD trading off session lows ahead of Bank of England decision and commentary ------------------ EURUSD : HIGH 1.35288 LOW 1.35006 BID 1.35247 ASK 1.35249 CHANGE 0.08% TIME 08 : 52:53 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.3548 (R1). Clearance here is required to validate next interim target at 1.3572 (R2) and any further rise would then be targeting mark at 1.3596 (R3). Downwards scenario: An important technical level at 1.3500 (S1) prevents possible market weakening. Break here is required to open road towards to interim target at 1.3476 (S2) en route to final aim at 1.3451 (S3). Resistance Levels: 1.3548, 1.3572, 1.3596 Support Levels: 1.3500, 1.3476, 1.3451 ------------------------ GBPUSD : HIGH 1.60914 LOW 1.60655 BID 1.60835 ASK 1.60844 CHANGE 0.03% TIME 08 : 52:53 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Further buying interest might arise above the resistance at 1.6117 (R1). Clearance here would suggest next intraday target at 1.6138 (R2) and if the price holds its momentum we can expect an exposure of 1.6158 (R3). Downwards scenario: Our next supportive measure locates at 1.6065 (S1). Break here is required to enable correction action towards to next target at 1.6043 (S2). Final support for today locates at 1.6023 (S3). Resistance Levels: 1.6117, 1.6138, 1.6158 Support Levels: 1.6065, 1.6043, 1.6023 --------------------- USDJPY : HIGH 98.748 LOW 98.556 BID 98.635 ASK 98.639 CHANGE -0.02% TIME 08 : 52:54 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Possibility of upwards action is seen above the next resistance level at 98.76 (R1). Clearance here is required to let the price achieve our higher intraday targets at 1.3703 (R2) and 1.3724 (R3). Downwards scenario: On the other hand, current range pattern on the hourly chart suggest possible retest of our supportive measure at 98.52 (S1). Break here is required to open way towards to initial targets at 98.38 (S2) and 98.24 (S3). Resistance Levels: 98.76, 98.92, 99.07 Support Levels: 98.52, 98.38, 98.24 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 06 2013 Will the European service PMI point to increased growth, or increased stagnation? We receive a raft of PMIs in the morning trading session on Wednesday; the most eagerly anticipated being the European final services PMI expected to print at 50.9, no change from the previous month. The UK manufacturing and production figures are published, expected in at 1.2% and 0.7% respectively. European retail sales are predicted to fall by 0.3%, whilst Germany's factory orders are expected to rise by 0.6%. Canada's building permits are expected to rise to 7.8% from the disastrous figure of -21.2% the previous month. Later in the evening the unemployment numbers for Australia are published with the expectation that the number will come in at 5.7%. Looking towards the market open/s for Wednesday the DJIA equity index future is currently flat, as is the SPX and NASDAQ. The European equity indices are down; STOXX off 0.82%, FTSE down 0.39%, CAC down 0.88% and DAX down 0.31%. Oil fell badly on Tuesday, ICE WTI oil down 1.32% on the day at $93.37 per barrel. Now that the critical psyche level of $100 per barrel has been breached the commodity appears to be in free-fall. NYMEX natural closed up 0.38% at $3.48 per therm. COMEX gold closed up on the day by 0.28% at $1311.70 per ounce with silver down 0.03% at $21.70 per ounce. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-06 09:00 GMT | UK Industrial Production (YoY) (Sep) 2013-11-06 10:00 GMT | EMU Retail Sales (YoY) (Sep) 2013-11-06 12:00 GMT | US MBA Mortgage Applications (Nov 1) 2013-11-06 15:00 GMT | UK NIESR GDP Estimate (3M) (Oct) FOREX NEWS : 2013-11-06 06:52 GMT | EUR/USD recovers 1.3500 2013-11-06 06:26 GMT | GBP/JPY skyrockets as Nikkei soars on Toyota gains 2013-11-06 04:33 GMT | USD/JPY soars as Nikkei up 1% above 14.400; also boosted by EUR/JPY rally 2013-11-06 03:18 GMT | GBP/USD tripping stops, targets 1.61 ------------------- EURUSD : HIGH 1.35213 LOW 1.34676 BID 1.35060 ASK 1.35064 CHANGE 0.23% TIME 08 : 50:42 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Market sentiment has improved for the bullish oriented traders. Fractals level at 1.3524 (R1) offers a key resistance level. Break here would suggest higher targets at 1.3553 (R2) and 1.3581(R3). Downwards scenario: Any downside extension is limited now to the next support level at 1.3478 (S1). Below here we see potential for the price acceleration towards to next targets at 1.3453 (S2) and 1.3427 (S3) in potential. Resistance Levels: 1.3524, 1.3553, 1.3581 Support Levels: 1.3478, 1.3453, 1.3427 -------------------- GBPUSD : HIGH 1.60957 LOW 1.60417 BID 1.60849 ASK 1.60855 CHANGE 0.26% TIME 08 : 50:43 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Further price appreciation is a likely scenario for today according to the technical readings. If the pair manages to clear the barrier at 1.6104 (R1), we would suggest next targets at 1.6127 (R2) and 1.6149 (R3). Downwards scenario: An evidence of possible descending structure could be provided if the GBPUSD manages to surpass next support level at 1.6062 (S1). In such case we would suggest next intraday targets at 1.6040 (S2) and 1.6016 (S3). Resistance Levels: 1.6104, 1.6127, 1.6149 Support Levels: 1.6062, 1.6040, 1.6016 ------------------ USDJPY : HIGH 98.755 LOW 98.409 BID 98.620 ASK 98.624 CHANGE 0.12% TIME 08 : 50:43 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: USDJPY resumed upwards penetration today and we see potential to expose our intraday targets at 98.95 (R2) and 99.15 (R3) if the price manages to overcome key resistance measure at 98.76 (R1). Downwards scenario: On the other hand, possible correction development would face next hurdle at 98.41 (S1). Break here is required to open road towards to our next interim target at 98.22 (S2), en route to final aim at 98.03 (S3). Resistance Levels: 98.76, 98.95, 99.15 Support Levels: 98.41, 98.22, 98.03 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 05 2013 China's Li sets min GDP at 7,2%, warns against stimulus The Chinese economy should keep its growth rate levels at 7.2% or above to keep generating enough jobs, said Premier Li Keqiang, also underscoring that relying too much on short term liquidity injections/stimulus should not be the primary focus as it risks similar fiscal problems faced by the Euro zone. Based on early projections, Li said Q3 economic indicators are in line to meet yearly targets, while warning looser policies should be avoided, saying that money supply - M2 - stands at a dangerous CNY100 trillion, twice China's GDP. According to Li, cited by MNI, in comments made in an October 21 speech made public Monday: "We have too much money in the pool. If we print more money, it may cause inflation. We all know bad inflation will not only disturb markets but also have big side effects and pressure people's lives and even cause panic." http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-05 10:00 GMT | European Commission Releases Economic Growth Forecasts 2013-11-05 15:00 GMT | US ISM Non-Manufacturing PMI (Oct) 2013-11-05 21:45 GMT | NZ Unemployment Rate (Q3) 2013-11-05 23:50 GMT | BoJ Monetary Policy Meeting Minutes FOREX NEWS : 2013-11-05 06:27 GMT | EUR/JPY tumbles alongside with Nikkei decline 2013-11-05 06:02 GMT | NZD/USD tumbled on RBA comments; now slightly higher 2013-11-05 04:19 GMT | EUR/USD at risk of 1.34 - Westpac 2013-11-05 03:35 GMT | RBA keeps neutral statement, AUD uncomfortably high ---------------------- EURUSD : HIGH 1.35225 LOW 1.3491 BID 1.34972 ASK 1.34977 CHANGE -0.13% TIME 08:45:23 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Price strengthening is possible above the next resistance level at 1.3526 (R1). Our interim target holds at 1.3553 (R2) en route to our final aim for today at 1.3581(R3). Downwards scenario: Opportunity for bearish oriented traders is seen below the important support level at 1.3478 (S1). Loss here would open door for the downtrend expansion towards to interim targets at 1.3453 (S2) and 1.3427 (S3). Resistance Levels: 1.3526, 1.3553, 1.3581 Support Levels: 1.3478, 1.3453, 1.3427 ----------------------- GBPUSD : HIGH 1.59821 LOW 1.59553 BID 1.59649 ASK 1.59657 CHANGE -0.02% TIME 08:45:24 OUTLOOK SUMMARY : Down TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: GBPUSD is approaching our next resistance level at 1.5983 (R1), keeping the short-term ascending structure intact. The break here is required for the price appreciation towards to next target at 1.6007 (R2) and any further rise would then be targeting to 1.6034 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 1.5940 (S1). A fall below it might initiate retracement formation towards to next support at 1.5916 (S2) and any further market decline would then be targeting final support at 1.5892 (S3). Resistance Levels: 1.5983, 1.6007, 1.6034 Support Levels: 1.5940, 1.5916, 1.5892 ----------------------- USDJPY : HIGH 98.674 LOW 98.24 BID 98.446 ASK 98.448 CHANGE -0.16% TIME 08:45:27 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: Immediate resistance at 98.71 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 98.92 (R2) and any further rise would then be limited to final resistive measure at 99.15 (R3) Downwards scenario: Any penetration below the support level at 98.23 (S1) might create more scope for the instrument weakness in near-term perspective. We are looking to our immediate supports at 98.01 (S2) and 97.80 (S3) as next possible targets. Resistance Levels: 98.71, 98.92, 99.15 Support Levels: 98.23, 98.01, 97.80 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Nov 01 2013 USA final manufacturing print scheduled to come in at 51.2 whilst investors await FOMC member Bullard's comments The latest seasonally adjusted Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI) improved by 1.5 points in October, rising to 53.2 points. This was the second consecutive month that the Australian PMI has moved above 50 points, indicating mild expansion across the manufacturing industry. Several PMIs are published on Friday, the first is the UK's manufacturing PMI expected to come in at 56.3. The USA final manufacturing PMI is scheduled to print at 51.2. In the USA FOMC member Bullard will speak in the afternoon, where we'll also receive the ISM prints for manufacturing. Equity index futures are mainly positive at the time of writing; the DJIA is up 0.21%, SPX up 0.15% and the NASDAQ equity index future is up 0.17%. The if FTSE is down 0.64%, CAC up 0.62% and DAX up 0.23%. The benchmark 10-year yield rose two basis points on Thursday, or 0.02 percentage points, to 2.55 percent at 5 p.m. New York time after touching 2.57 percent, the highest since Oct. 22nd. It earlier fell four basis points to 2.50 percent. The 2.5 percent note maturing in August 2023 dropped 1/8, or $1.25 per $1,000 face amount, to 99 17/32. Ten-year note yields have fallen six basis points this month after sliding 17 basis points in September. Europe’s 17-nation currency slid 1.1 percent to $1.3584 late in New York time Thursday and fell by as much as 1.2 percent, the biggest intraday drop seen since April 17th. The euro sank by 1.3 percent to 133.60 yen. Japan’s currency gained 0.2 percent to 98.36 per dollar after depreciating yesterday to 98.68, the weakest level since Oct. 17th. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-11-01 08:30 GMT | SW SVME - Purchasing Managers' Index (Oct) 2013-11-01 09:28 GMT | UK Markit Manufacturing PMI (Oct) 2013-11-01 13:58 GMT | US Markit Manufacturing PMI (Oct) 2013-11-01 14:00 GMT | US ISM Manufacturing PMI (Oct) FOREX NEWS : 2013-11-01 06:23 GMT | AUD/USD upwards on beating Chinese Manufacturing PMI 2013-11-01 05:37 GMT | EUR/JPY getting hammered as stops are creating snowball effect; 132.77 is short-term support 2013-11-01 04:04 GMT | USD/JPY sellers blow 98.00 support 2013-11-01 03:56 GMT | GBP/USD still hovering above short-term support at 1.6008; more downside expected EURUSD : HIGH 1.35894 LOW 1.35398 BID 1.35504 ASK 1.35509 CHANGE -0.24% TIME 08:47:05 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Current price setup is looking for upwards extension possibility. Risk of the price acceleration is seen above the key resistance level at 1.3597 (R1). Clearance here would put immediate focus on the next targets at 1.3629 (R2) and then 1.3662 (R3). Downwards scenario: On the downside, support level at 1.3539 (S1) prevent further downtrend development. Successful penetration below it would open a path towards to next intraday targets at 1.3507 (S2) and 1.3475 (S3). Resistance Levels: 1.3597, 1.3629, 1.3662 Support Levels: 1.3539, 1.3507, 1.3475 ----------------------- GBPUSD : HIGH 1.60463 LOW 1.60169 BID 1.60285 ASK 1.60292 CHANGE -0.04% TIME 08:47:05 OUTLOOK SUMMARY : Down TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: GBPUSD trapped to the consolidation phase on the hourly chart frame. Break of resistive level at 1.6070 (R1) is required to enable upwards action. Next visible targets are seen at 1.6100 (R2) and 1.6131 (R3). Downwards scenario: Possible descending structure formation might get more stimulus if the price manages to overcome our next support level at 1.5998 (S1). Clearance here would suggest initial targets at 1.5966 (S2) and 1.5935 (S3). Resistance Levels: 1.6070, 1.6100, 1.6131 Support Levels: 1.5998, 1.5966, 1.5935 ----------------- USDJPY : HIGH 98.382 LOW 97.809 BID 97.961 ASK 97.965 CHANGE -0.4% TIME 08:47:06 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: From the technical side, short - term tendency is bearish, however price appreciation is possible above the resistance level at 98.09 (R1). Loss here would open way towards to next targets at 98.30 (R2) and 98.51 (R3). Downwards scenario: Possible downtrend development may encounter supportive measure at 97.87 (S1). Penetration through this level would targeting then supportive means at 97.58 (S2) and 97.37 (S3) in potential. Resistance Levels: 98.09, 98.30, 98.51 Support Levels: 97.78, 97.58, 97.37 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC Oct 31 2013 China's top four banks post bad loan surge whilst the markets await data prints on Chinese growth on Thursday evening In the overnight/early morning session the BOJ of Japan conducts their own version of an FOMC meeting. The results may affect the value of yen and the Nikkei. They'll deliver a monetary policy statement, an outlook report and then conduct a press conference. On Thursday German retail sales are expected to rise by 0.5%, Italy's employment rate is expected to climb to 12.4%, EU unemployment is expected to come in at 12%. Canada's GDP for the month is expected in at 0.2%, whilst USA weekly unemployment claims are expected in at 341K, this print is still liable to potentially deliver a surprise given the temporary USA govt. shutdown might still be working its way through the system. Late in the evening two extremely important prints from China are published. The manufacturing PMI and the HSBC final manufacturing PMI. China’s top four banks have posted their biggest increase in bad loans since 2010 as a five-year credit surge has left companies with excess manufacturing capacity and slower profit growth amid an economic slowdown. Nonperforming loans at Industrial & Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd and Bank of China Ltd rose 3.5 percent in the three months to Sept. 30th from June to a combined 329.4 billion yuan ($54 billion). Profit rose to 209 billion yuan. http://blog.fxcc.com/market-analysis FOREX ECONOMIC CALENDAR : 2013-10-31 07:00 GMT | DE Retail Sales (YoY) (Sep) 2013-10-31 10:00 GMT | EMU Consumer Price Index (YoY) (Oct) 2013-10-31 12:30 GMT | US Initial Jobless Claims (Oct 25) 2013-10-31 13:30 GMT | CA Gross Domestic Product (MoM) (Aug) FOREX NEWS : 2013-10-31 06:32 GMT | EUR/USD downwards on Nowotny Comments, less dovish FOMC than expected 2013-10-31 06:28 GMT | BOJ semi-annual report: QE to achieve inflation goal 2013-10-31 05:57 GMT | FOMC to begin taper at some point in coming quarters - Nomura 2013-10-31 05:39 GMT | GBP/JPY little changed after solid Japanese data, BoJ decision ------------------------- EURUSD HIGH 1.37386 LOW 1.36893 BID 1.37035 ASK 1.37038 CHANGE -0.23% TIME 08 : 43:19 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Upwards penetration is limited to the important resistance level at 1.3718 (R1). Clearance here might open a route towards to our initial target at 1.3734 (R2) and then further price appreciation would be targeting resistance at 1.3752 (R3). Downwards scenario: On the other hand, negative development might occur below the immediate support level at 1.3698 (S1). Clearance here would enable our next intraday targets at 1.3674 (S2) and 1.3656 (S3). Resistance Levels: 1.3718, 1.3734, 1.3752 Support Levels: 1.3698, 1.3674, 1.3656 --------------------- GBPUSD : HIGH 1.60432 LOW 1.60059 BID 1.60130 ASK 1.60132 CHANGE -0.16% TIME 08 : 43:20 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: We see potential to test our resistive barrier at 1.6043 (R1) later on today. Successful penetration above this mark might keep bullish sentiment in play and validate our intraday targets at 1.6077 (R2) and 1.6110 (R3). Downwards scenario: Next support level lies at 1.5994 (S1). Penetration below it might shift short-term tone to the negative side. Our intraday targets locates at 1.5961 (S2) and 1.5928 (S3). Resistance Levels: 1.6043, 1.6077, 1.6110 Support Levels: 1.5994, 1.5961, 1.5928 --------------------- USDJPY : HIGH 98.571 LOW 98.272 BID 98.352 ASK 98.356 CHANGE -0.16% TIME 08 : 43:21 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: USDJPY is approaching our next resistive measure at 98.67 (R1) on the upside. Break here is required to enable bullish potential and expose our interim target at 98.82 (R2). Further price appreciation would then be limited to last resistance at 98.96 (R3). Downwards scenario: If the price failed to clear the resistive measure we expect to see recovery action. Clearance of our next support level at 98.15 (S1) is required to enable our targets at 97.99 (S2) and 97.84 (S3) in potential. Resistance Levels: 98.67, 98.82, 98.96 Support Levels: 98.15, 97.99, 97.84 Source: FX Central Clearing Ltd,( http://www.fxcc.com )