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Forex Technical & Market Analysis FXCC Jun 18 2013 Dollar Strengthens, Stocks Soar as Traders Position for FOMC Yesterday we saw how much of a difference a few hours can make with the dollar recovering earlier losses to end the North American session higher against most of the major currencies. With only one day to go before the Federal Reserve's monetary policy announcement, the big move in equities and the reversal in currencies suggests that traders are beginning to position for FOMC. Yet taking a look at how the various markets are trading, there seems to be more confusion than clarity on what the central bank will say or do. The rise in the dollar and the increase in U.S. Treasury yields imply that currency and equity traders believe that the main takeaway from this week's meeting will be that the central bank is gearing up to taper. However the rally in U.S. equities suggest that stock traders believe that the Fed will make a point to distinguish tapering from tightening and reassure investors that cheap and easy money will remain available for a very long period of time. If Bernanke is successful in convincing the market that they will take a very gradualist approach to tapering, the U.S. dollar could give up its gains. However if Bernanke emphasizes the central bank's plans for tapering over its difference with tightening, the dollar could extend its rise. https://support.fxcc.com/email/technical/18062013/ FOREX ECONOMIC CALENDAR : N/A | UK. BOE Inflation Letter 2013-06-18 06:00 GMT | EMU. ECB President Draghi's Speech 2013-06-18 08:30 GMT | UK. Consumer Price Index (YoY) (May) 2013-06-18 12:30 GMT | USA. Consumer Price Index (YoY) (May) FOREX NEWS : 2013-06-18 05:03 GMT | GBP/USD capped at 1.57 ahead of UK CPI 2013-06-18 04:38 GMT | EUR/USD braces for volatile week 2013-06-18 03:28 GMT | AUD/JPY hovering above 90.00 2013-06-18 02:58 GMT | GBP/JPY advances remain capped below 149.50 ---------------------- EURUSD : HIGH 1.33676 LOW 1.33466 BID 1.33526 ASK 1.33527 CHANGE -0.1% TIME 08 : 36:46 OUTLOOK SUMMARY : Neutral TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Current price setup might suggest volatility increase in near term perspective. If the price get acceleration on the upside and manages to surpass our resistive measure at 1.3382 (R1), we would suggest next targets at 1.3402 (R2) and 1.3422 (R3). Downwards scenario: On the other hand, an element of supportive measures could be found at 1.3326 (S1). Clearance here would suggest possible downtrend development towards to initial targets at 1.3307 (S2) and 1.3286 (S3). Resistance Levels: 1.3382, 1.3402, 1.3422 Support Levels: 1.3326, 1.3307, 1.3286 ------------------------ GBPUSD : HIGH 1.57227 LOW 1.56943 BID 1.56961 ASK 1.56970 CHANGE -0.14% TIME 08 : 36:47 OUTLOOK SUMMARY : Neutral TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Clearance of our next resistive structure at 1.5739 (R1) would open way towards to our initial target at 1.5766 (R2) and any further market rise would then be targeting 1.5796 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support level at 1.5679 (S1), only clear break here would be a signal of possible market easing towards to next targets at 1.5652 (S2) and 1.5624 (S3) in potential. Resistance Levels: 1.5739, 1.5766, 1.5796 Support Levels: 1.5679, 1.5652, 1.5624 ------------------------------- USDJPY : HIGH 94.955 LOW 94.436 BID 94.797 ASK 94.799 CHANGE 0.34% TIME 08 : 36:48 OUTLOOK SUMMARY : Down TREND CONDITION : Sideway TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : High Upwards scenario: USDJPY stabilized on the hourly chart however appreciation above the next resistance at 95.23 (R1) might be a good catalyst for a recovery action towards to next targets at 95.66 (R2) and 96.11 (R3). Downwards scenario: On the other hand, if the pair accelerates on the downside and manage to break our next support level at 94.26 (S1), it is likely to trigger our next support level at 93.82 (S2) and 93.37 (S3) later on today. Resistance Levels: 95.23, 95.66, 96.11 Support Levels: 94.26, 93.82, 93.37 Source: FX Central Clearing Ltd,( Forex Account | Best ECN Forex Brokers | Forex Trading Systems | FXCC )

Forex Technical & Market Analysis FXCC Jun 17 2013 Dollar Outlook Next Week Hinges on Bernanke The month of June has proven to be an extremely volatile period in the forex market as the U.S. dollar fell aggressively against many major currencies. Unfortunately we can't expect the markets to calm anytime soon with a heavy dose of economic data expected from countries around the world. The U.K. and Australia will release monetary policy minutes, the Swiss National Bank will hold a monetary policy meeting and of course - we also have the Federal Reserve's monetary policy announcement on the calendar. In addition to these event risks, Eurozone PMIs, New Zealand GDP, UK retail sales, US manufacturing data and Canadian retail sales are also scheduled for release. Yet there's no question that of all these events, the most important will be the Fed meeting. Much of the volatility in the financial markets has been caused by the uncertainty of Fed policy. There's been a lot of talk about tapering asset purchases, which has caused stocks to weaken but at the same time, central bank officials and noted Fed watchers have stressed that a reduction in Quantitative Easing does not equate to tightening. They are absolutely right and we think that the rest of the market is beginning to realize this connection as well but based on the reaction to Jon Hilsenrath's article this week, there are still a subset who need convincing. https://support.fxcc.com/email/technical/17062013/ FOREX ECONOMIC CALENDAR : 24h | All. G8 Meeting 2013-06-17 09:00 GMT | EMU. Labour cost (Q1) 2013-06-17 09:00 GMT | EMU. Trade Balance n.s.a. (Apr) 2013-06-17 12:30 GMT | USA. NY Empire State Manufacturing Index (Jun) FOREX NEWS : 2013-06-17 04:55 GMT | EUR/AUD testing 1.3850 support on Euro weakness 2013-06-17 04:02 GMT | EUR/USD dips to fresh session lows ahead of G-8 2013-06-17 02:23 GMT | USD/JPY extends gains above 94.50 2013-06-17 00:49 GMT | Aussie pops above 0.96 USD EURUSD : HIGH 1.33573 LOW 1.33184 BID 1.33187 ASK 1.33191 CHANGE -0.16% TIME 08 : 14:08 OUTLOOK SUMMARY : Neutral TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low MARKET ANALYSIS - Intraday Analysis Upwards scenario: EURUSD trapped to the consolidation phase. Local high at 1.3358 (R1) offers a key resistance level. Break here is required to take the pair towards to initial targets at 1.3379 (R2) and 1.3399 (R3). Downwards scenario: Penetration below the support level at 1.3294 (S1) might maintain a negative tone and prolong corrective action. Price devaluation would then be targeting our supportive measures at 1.3272 (S2) and 1.3250 (S3) in potential. Resistance Levels: 1.3358, 1.3379, 1.3399 Support Levels: 1.3294, 1.3272, 1.3250 --------------------- GBPUSD : HIGH 1.57319 LOW 1.56927 BID 1.56935 ASK 1.56944 CHANGE -0.02% TIME 08 : 14:09 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low Upwards scenario: GBPUSD is approaching our next resistive barrier at 1.5737 (R1) on the upside. Surpassing of this level may initiate bullish pressure towards to next visible targets at 1.5768 (R2) and 1.5799 (R3). Downwards scenario: If the price failed to overcome our next resistance level we expect market easing below the support level at 1.5671 (S1). Loss here would shift our intraday outlook to the bearish side with expected targets at 1.5639 (S2) and 1.5606 (S3). Resistance Levels: 1.5737, 1.5768, 1.5799 Support Levels: 1.5671, 1.5639, 1.5606 ---------------------- USDJPY : HIGH 94.837 LOW 94.098 BID 94.722 ASK 94.726 CHANGE 0.67% TIME 08 : 14:09 OUTLOOK SUMMARY : Down TREND CONDITION : Sideway TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Low Upwards scenario: Upside formation is limited now to the next resistive barrier at 95.05 (R1). Clearance here is required to provide a space for a move towards to next target at 95.53 (R2) and then final aim would be 96.04 (R3). Downwards scenario: On the other hand, an element of supportive measures could be found at 94.24 (S1). Clearance here would suggest possible downtrend development towards to initial targets, located at 93.75 (S2) and 93.27 (S3). Resistance Levels: 95.05, 95.53, 96.04 Support Levels: 94.24, 93.75, 93.27 Source: FX Central Clearing Ltd,( Forex Account | Best ECN Forex Brokers | Forex Trading Systems | FXCC )

Forex Technical & Market Analysis FXCC Jun 14 2013 Draghi says OMT necessary, effective and within ECB mandate Mario Draghi defended the Outright Monetary Transactions (OMT) a day after the ECB and the Bundesbank confronted in a public hearing at Germany's top court on the legality of the bond-buying program. ECB President said the program was necessary, effective and in line with the ECB mandate. He pointed that benefits are 'visible to everybody' across Europe including Germany, in particular, falling bond yields in Italy and Spain. "It is fully in line with our mandate because it is designed to preserve price stability for the euro area and uses instruments foreseen in the Statute," Draghi said according to the transcript of a video statement after receiving the responsible leadership award 2013 from the European School of Management and Technology in Berlin. Meanwhile, Draghi urged eurozone leaders to stick reforms and to push for greater integration "to build a stronger economic and monetary union based on shared sovereignty and greater legitimacy". "For the euro area now to move forward and establish itself on stronger ground, we need all decision makers to take their responsibilities," Draghi said. https://support.fxcc.com/email/technical/14062013/ FOREX ECONOMIC CALENDAR : 2013-06-14 09:00 GMT | EMU. Consumer Price Index (YoY) (May) 2013-06-14 12:30 GMT | USA. Producer Price Index (YoY) (May) 2013-06-14 13:15 GMT | USA. Industrial Production (MoM) (May) 2013-06-14 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment Index (Jun) FOREX NEWS : 2013-06-14 04:21 GMT | GBP/USD treading water around 1.57 figure 2013-06-14 03:08 GMT | AUD/USD dealing with 0.9600 bids 2013-06-14 01:06 GMT | USD/JPY knocks on 94.50 session lows 2013-06-14 01:06 GMT | EUR/USD, look for highly corrective pullbacks to join bulls - 2ndSkies EURUSD : HIGH 1.33745 LOW 1.33422 BID 1.33468 ASK 1.33474 CHANGE -0.21% TIME 08 : 20:56 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: While instrument trades above the 20 SMA, it keeps immediate upside potential. Next resistance is seen at 1.3379 (R1), break above it might extend gains towards to next targets at 1.3412 (R2) and 1.3444 (R3). Downwards scenario: Failure to establish positive bias today might lead to the recovery action in near term perspective. Next immediate support locates at 1.3305 (S1). Break here is required to enable bearish pressure towards to our targets at 1.3272 (S2) and 1.3239 (S3). Resistance Levels: 1.3379, 1.3412, 1.3444 Support Levels: 1.3305, 1.3272, 1.3239 ------------------ GBPUSD : HIGH 1.57199 LOW 1.56943 BID 1.57021 ASK 1.57034 CHANGE -0.1% TIME 08 : 20:57 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: GBPUSD keeps bullish potential. Next hurdle on the upside might be found at 1.5737 (R1). Break here would open road towards to our interim aim at 1.5768 (R2) and enable final intraday resistive measure at 1.5799 (R3). Downwards scenario: Retracement action might occur below the key support level at 1.5671 (S1). Break here would open road towards to next supportive measure at 1.5639 (S2) and then final supportive bastion could be found at 1.5606 (S3). Resistance Levels: 1.5737, 1.5768, 1.5799 Support Levels: 1.5671, 1.5639, 1.5606 -------------------------- USDJPY : HIGH 95.797 LOW 94.429 BID 95.309 ASK 95.314 CHANGE -0.05% TIME 08 : 20:57 OUTLOOK SUMMARY : Down TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: Instrument resumed consolidation phase from its initial downtrend formation. Resistance level at 95.67 (R1) is a key technical point on the upside. Penetration above it would suggest higher targets at 96.21 (R2) and 96.75 (R3) later on today. Downwards scenario: Market decline below the supportive mean at 94.38 (S1) might trigger bearish pressure and enable lower target at 93.85 (S2). Final target for today locates at 93.26 (R3) price level. Resistance Levels: 95.67, 96.21, 96.75 Support Levels: 94.38, 93.85, 93.26 Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

Forex Technical & Market Analysis FXCC Jun 13 2013 IMF approves €657 million bailout tranche for Portugal The International Monetary Fund (IMF) approved the seventh tranche of Portugal's bailout Wednesday and gave the country more time to meet its budget-cutting goals. The IMF will disburse the next tranche worth €657 million after the successful review of a bailout program that started in 2011. Meanwhile, the fund eased conditions, allowing Portugal to lower its budget deficit to 3% of GDP by 2015 from 6.4% in 2012, instead of by 2014. "The Portuguese authorities have put forward a program that is economically well-balanced and has growth and job creation at its center", IMF acting Managing Director John Lipsky wrote in a statement. With Chinese markets back in business after a 5 day weekend closed over holidays, local share markets were dumped with Nikkei index leading the way lower losing at one point more than -6%. USD posted fresh 4-month lows at 80.66 DXY with USD/JPY printing fresh 2-month lows at 94.36, and EUR/USD 3-month highs above 1.3360. Gold and Oil showed little changes on the move. Australian job market surprised to the upside adding 1.1k more jobs to the economy when -10k were expected, making AUD/USD dip below the 0.9450 level. RBNZ left interest rates unchanged at 2.5%, with NZD/USD hanging around the 0.79 figure. http://blog.fxcc.com/forex-technical...-june-13-2013/ FOREX ECONOMIC CALENDAR : 2013-06-13 08:00 GMT | EMU. ECB Monthly Report 2013-06-13 12:30 GMT | USA. Retail Sales (MoM) (May) 2013-06-13 14:00 GMT | USA. Business Inventories (Apr) 2013-06-13 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes FOREX NEWS : 2013-06-13 04:55 GMT | USD/JPY technical set up continues to deteriorate as bears maintain control 2013-06-13 04:27 GMT | GBP/USD resting below 1.57 figure 2013-06-13 03:49 GMT | EUR/JPY cracks 127.00, further selling pressure revealed 2013-06-13 03:15 GMT | USD/CAD, sustained weakness below 1.0170/75 needed – TDS -------------------- Forex Technical Analysis EURUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: Uptrend evolvement remains in power. Further appreciation above the resistive barrier at 1.3371 (R1) is compulsory to commence positive market structure and validate next intraday targets at 1.3395 (R2) and 1.3418 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the key support barrier at 1.3335 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.3311 (S2) and 1.3288 (S3) in potential. Resistance Levels: 1.3371, 1.3395, 1.3418 Support Levels: 1.3335, 1.3311, 1.3288 --------------------------- Forex Technical Analysis GBPUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: market looks overbought and possibility of retracement is high. Though loss of the next resistive barrier at 1.5706 (R1) might push the price towards to our targets at 1.5733 (R2) and 1.5761 (R3) later on today. Downwards scenario: We placed our support level right above the Monday high at 1.5654 (S1). Clearance here is required to open way towards to our interim target at 1.5626 (S2) and then final aim locates at 1.5598 (S3). Resistance Levels: 1.5706, 1.5733, 1.5761 Support Levels: 1.5654, 1.5626, 1.5598 ------------------------- Forex Technical Analysis USDJPY : MARKET ANALYSIS – Intraday Analysis Upwards scenario: Medium term bias is clearly negative on USDJPY however we expect see some recovery action later on today. Key resistive bastion lies at 95.12 (R1). If the price manages to break it, we would suggest next targets at 95.67 (R2) and 96.21 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 93.90 (S1). A fall below it might prolong the weakness towards to next target at 93.40 (S2) and any further market decline would then be limited to final support at 92.91 (S3). Resistance Levels: 95.12, 95.67, 96.21 Support Levels: 93.90, 93.40, 92.91 Source: FX Central Clearing Ltd,( Currency Trading Blog | Best ECN Broker | Forex Trading System | FXCC )

Forex Technical & Market Analysis FXCC Jun 07 2013 Will Non-Farm Payrolls Save or Kill the Dollar? The big story today in the financial markets was the sell-off in the U.S. dollar. The greenback fell quickly and aggressively against all of the major currencies right around the European close and held onto its losses to end the day down 2% against the Japanese Yen and more than 1% against the euro, British pound and Swiss Franc. There were a few different factors behind the sell-off in the greenback. The dollar initially traded lower on the optimistic comments from ECB President Draghi but those losses were contained to the EUR/USD. USD/JPY did not see any losses until 90 minutes before the European close at 12pm NY Time and only when it started to break down did the dollar collapse against all of the major currencies. https://support.fxcc.com/email/technical/07062013/ FOREX ECONOMIC CALENDAR : 2013-06-07 06:00 GMT | Germany. Trade Balance s.a. (Apr) 2013-06-07 08:30 GMT | UK. Total Trade Balance (Apr) 2013-06-07 12:30 GMT | USA. Nonfarm Payrolls (May) 2013-06-07 19:00 GMT | USA. Consumer Credit Change (Apr) FOREX NEWS : 2013-06-07 04:46 GMT | USD/JPY attempts to fight back above 96.00 in Asia trade 2013-06-07 03:36 GMT | EUR/USD technical picture looks set for further advances ahead of NFP 2013-06-07 02:43 GMT | Aussie breaks 0.9550 as selling resumes in Asia 2013-06-07 01:40 GMT | USD/JPY breaks momentarily below 97 figure EURUSD : HIGH 1.32688 LOW 1.32355 BID 1.32534 ASK 1.32540 CHANGE 0.06% TIME 08 : 24:35 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: Apparently market sentiment is clearly positive for the EURUSD as both moving averages are pointing up. Clearance of our resistance level at 1.3305 (R1) would open the way for an upside penetration towards to next targets at 1.3337 (R2) and 1.3370 (R3). Downwards scenario: Possible price depreciation is limited to the key support barrier at 1.3223 (S1). Break here is required to enable corrective action towards to lower targets at 1.3190 (S2) and 1.3157 (S3). Resistance Levels: 1.3305, 1.3337, 1.3370 Support Levels: 1.3223, 1.3190, 1.3157 --------------------- GBPUSD : HIGH 1.56178 LOW 1.55808 BID 1.55949 ASK 1.55963 CHANGE -0.02% TIME 08 : 24:36 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Yesterday high offers a key resistive barrier at 1.5684 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.5732 (R2) and 1.5781 (R3) in potential. Downwards scenario: Possible downside extension might face next supportive barrier at 1.5564 (S1). Clearance here is required to open the way towards to interim target at 1.5517 (S2) and any further price regress would then be targeting 1.5467 (S3). Resistance Levels: 1.5684, 1.5732, 1.5781 Support Levels: 1.5564, 1.5517, 1.5467 ------------------------- USDJPY : HIGH 97.517 LOW 95.549 BID 96.696 ASK 96.701 CHANGE -0.27% TIME 08 : 24:37 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : High Upwards scenario: After dipping lower today we see potential of market strengthening in near-term perspective. Next on tap is seen resistance level at 97.57 (R1). Break here would suggest next intraday targets at 98.07 (R2) and 98.58 (R3). Downwards scenario: Price regress below the support level at 95.53 (S1) would increase likelihood of failing towards to our key supportive barrier at 95.07 (S2) and any further market decline would then be targeting final support for today at 94.58 (S3). Resistance Levels: 97.57, 98.07, 98.58 Support Levels: 95.53, 95.07, 94.58 Source: FX Central Clearing Ltd,( Free Forex Demo Accounts | Top ECN Forex Broker | Forex Blog | FXCC )

Forex Technical & Market Analysis FXCC Jun 06 2013 EUR Prime for a Breakout on ECB The euro is prime for a breakout. Unlike other major currency pairs, EUR/USD traded in a relatively tight range throughout the European and North American sessions. On a technical basis, the currency pair stayed between the 100 and 200-day SMAs for the past 48 hours, which reflects the hesitation of investors who are waiting for a catalyst to take the currency pair out of its range. Tomorrow could be the perfect opportunity for a breakout in the pair with the European Central Bank scheduled to deliver its monetary policy decision. The ECB is widely expected to leave interest rates unchanged leaving Mario Draghi's press conference as the primary focus for FX traders. https://support.fxcc.com/email/technical/06062013/ FOREX ECONOMIC CALENDAR : 2013-06-06 11:00 GMT | BoE Interest Rate Decision 2013-06-06 11:45 GMT | ECB Interest Rate Decision 2013-06-06 12:30 GMT | ECB Monetary policy statement and press conference 2013-06-06 12:30 GMT | USA. Initial Jobless Claims FOREX NEWS : 2013-06-06 05:16 GMT | GBP/USD dealing around 1.54 ahead of BoE 2013-06-06 04:59 GMT | USD lower but holding above 82.50 DXY; Aussie smacked 2013-06-06 04:24 GMT | Economic data set to heighten volatility in EUR/USD 2013-06-06 00:24 GMT | AUD/USD cracks the big 0.95 figure down ---------------------- EURUSD : HIGH 1.31089 LOW 1.30751 BID 1.31005 ASK 1.31009 CHANGE 0.07% TIME 08 : 35:19 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: EURUSD stabilized after the initial uptrend formation. Potential to move higher is seen above the next resistance level at 1.3116 (R1). Loss here would suggest next intraday targets at 1.3135 (R2) and 1.3155 (R3). Downwards scenario: We would shift our intraday technical outlook to the negative side if the price manage to penetrate below the key support at 1.3074 (S1). Clearance here is required to enable intraday targets at 1.3053 (S2) and 1.3033 (S3). Resistance Levels: 1.3116, 1.3135, 1.3155 Support Levels: 1.3074, 1.3053, 1.3033 ---------------------- GBPUSD : HIGH 1.54157 LOW 1.5381 BID 1.54005 ASK 1.54011 CHANGE -0.03% TIME 08 : 35:20 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Ascending structure on GBPUSD suggest possible correction ahead though break above the resistance at 1.5418 (R1) is liable to stimulate bullish pressure and validate interim target at 1.5443 (R2) en route final aim at 1.5469 (R3). Downwards scenario: Retracement action is possible if the price manages to overcome our initial support level at 1.5359 (S1). In such case we would suggest intraday targets at 1.5353 (S2) and 1.5327 (S3). Resistance Levels: 1.5418, 1.5443, 1.5469 Support Levels: 1.5359, 1.5353, 1.5327 ------------------------ USDJPY : HIGH 99.466 LOW 98.862 BID 99.348 ASK 99.352 CHANGE 0.29% TIME 08 : 35:21 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: Next hurdle on the upside is seen at important technical level – 99.55 (R1). If the price manages to overcome it we expect further acceleration towards to our initial targets at 99.83 (R2) and 100.12 (R3). Downwards scenario: On the downside next challenge is seen at 98.86 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 98.58 (S2) and 98.30 (R3) later on today. Resistance Levels: 99.55, 99.83, 100.12 Support Levels: 98.86, 98.58, 98.30 Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

Forex Technical & Market Analysis FXCC Jun 05 2013 IMF's Lagarde urges Greece not to relax bailout efforts MF head Christine Lagarde said in an interview for the Greek state TV on Tuesday that the country was making progress on its bailout program but that it nevertheless should increase efforts to combat tax evasion and implement reforms to attract foreign investors. 'Now is not the time to relax the effort,' Lagarde said, adding that "There are some really positive developments but obviously more needs to be done.” She listed tax evasion and reforms to spur foreign investment as the most important issues which need to be dealt with. This week EU, ECB and IMG inspectors return to Athens for another revision of the Greek bailout program, during which they are expected to focus on the Greek government's progress in reducing state employee numbers. The EUR/USD traded in a narrow range today but still managed to finish the day in positive territory, closing up 11 pips at 1.3081. Economic data out of the both the EU and US was light, but will pick up as we approach the end of the week with the ECB Interest Rate Decision on Thursday, as well as US Non Farm Payrolls on Friday. However, before the real fireworks begin, some analysts are pointing to tomorrow’s ADP data out of the US as a possible catalyst for tomorrow’s price action. According to Sean Callow at Westpac, “we have the ADP report plus non manufacturing ISM jobs components tonight. There is a great deal of focus on jobs data in the US given recent speculation about Fed tapering its asset purchase programs. ADP disappointed in April but has not had much directional success in picking payrolls outcomes. The ISM report on Monday casts a long shadow over tonight's non manufacturing report. Arguably, markets will be set up for a softer outcome given the weaker US$ in recent sessions. Tonight's data could prove to be important for FX markets.” https://support.fxcc.com/email/technical/05062013/ FOREX ECONOMIC CALENDAR : 2013-06-05 08:28 GMT | UK. Markit Services PMI (May) 2013-06-05 09:00 GMT | EMU. Gross Domestic Product 2013-06-05 14:00 GMT | USA. ISM Non-Manufacturing PMI (May) 2013-06-05 18:00 GMT | USA. Fed's Beige Book FOREX NEWS : 2013-06-05 05:11 GMT | USD/JPY back below 100; Australia GDP disappoints 2013-06-05 04:39 GMT | AUD/JPY searching for bids near 96.00 2013-06-05 03:26 GMT | EUR/USD technical indicators beginning to look more constructive 2013-06-05 01:46 GMT | AUD/USD breaking lower towards 0.9600 after Aussie GDP data --------------------------- EURUSD : HIGH 1.30964 LOW 1.30653 BID 1.30899 ASK 1.30903 CHANGE 0.08% TIME 08 : 56:44 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: We are not expecting significant volatility increase today however upside risk aversion is seen above the next resistance level at 1.3107 (R1). Price evaluation above this level would suggest next targets at 1.3127 (R2) and 1.3147 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3064 (S1) might open way towards to lower targets at 1.3043 (S2) and 1.3023 (S3). Resistance Levels: 1.3107, 1.3127, 1.3147 Support Levels: 1.3064, 1.3043, 1.3023 ---------------------- GBPUSD : HIGH 1.53379 LOW 1.52912 BID 1.53331 ASK 1.53336 CHANGE 0.14% TIME 08 : 56:45 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Medium- term tendency remains bullish as both moving averages are pointing up. Further progress above the resistance level at 1.5343 (R1) would open way towards to next targets at 1.5362 (R2) and 1.5382 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 1.5307 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 1.5287 (S2) and 1.5267 (S3) later on. Resistance Levels: 1.5343, 1.5362, 1.5382 Support Levels: 1.5307, 1.5287, 1.5267 -------------------- USDJPY : HIGH 100.462 LOW 99.385 BID 99.592 ASK 99.597 CHANGE -0.48% TIME 08 : 56:46 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: We see potential to test our resistive barrier at 99.75 (R1). Successful penetration above this mark might shift traders sentiment to the bullish side and validate our intraday targets at 100.02 (R2) and 100.32 (R3). Downwards scenario: Further downtrend development is limited now to the key supportive barrier at 99.31 (S1). Only loss here would enable our intraday targets at 99.04 (S2) and 98.75 (S3) on the downside. Resistance Levels: 99.75, 100.02, 100.32 Support Levels: 99.31, 99.04, 98.75 Source: FX Central Clearing Ltd,( Forex ECN Brokers List | Auto Forex Trading Account | FXCC )

Forex Technical & Market Analysis FXCC Jun 04 2013 Fitch cuts Cyprus to B-, negative outlook Fitch Ratings has downgraded Cyprus's long-term foreign currency issuer default rating by one notch to 'B-' from 'B' while keeping a negative outlook due to the country's elevated economic uncertainty. The rating agency had placed Cyprus on negative watch in March. With this decision, Fitch pushed Cyprus further into junk territory, now 6 notches. "Cyprus has no flexibility to deal with domestic or external shocks and there is a high risk of the (EU/IMF) program going off track, with financing buffers potentially insufficient to absorb material fiscal and economic slippage," Fitch said in a statement. The EUR/USD finished the day sharply higher, at one point trading all the way up to 1.3107 before leaking lower later in the day to close up 76 pips at 1.3070. Some analysts were pointing towards weaker than expected ISM data from the US as the main catalyst for the bullish move in the pair. Economic data out of the US will slow down a bit the next few days, but volatility is certain to pick up as we approach the ECB Rate Decision on Thursday, as well as the Non-Farm Payrolls number due out of the US on Friday. https://support.fxcc.com/email/technical/04062013/ FOREX ECONOMIC CALENDAR : 2013-06-04 08:30 GMT | UK. PMI Construction (May) 2013-06-04 09:00 GMT | EMU. Producer Price Index (YoY) (Apr) 2013-06-04 12:30 GMT | USA. Trade Balance (Apr) 2013-06-04 23:30 GMT | Australia. AiG Performance of Services Index (May) FOREX NEWS : 2013-06-04 04:30 GMT | RBA Interest Rate Decision stays unchanged at 2.75% 2013-06-04 03:20 GMT | Will economic data later in week free EUR/USD from range bound behavior? 2013-06-04 02:13 GMT | EUR/AUD finds some ground in the 1.34 round area 2013-06-04 02:00 GMT | AUD/JPY advances capped below 97.50 ------------------------ EURUSD : HIGH 1.30804 LOW 1.30566 BID 1.30572 ASK 1.30575 CHANGE -0.14% TIME 08:22:51 OUTLOOK SUMMARY Up TREND CONDITION Upward penetration TRADERS SENTIMENT Bearish IMPLIED VOLATILITY Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: While price is quoted above the 20 SMA, our technical outlook would be positive. Yesterday high offers next resistance level at 1.3107 (R1). Any price action above it would suggest next targets at 1.3127 (R2) and 1.3147(S3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.3043 (S1). Possible price regress could expose our initial targets at 1.3023 (S2) and 1.3003 (S3) in potential. Resistance Levels: 1.3107, 1.3127, 1.3147 Support Levels: 1.3043, 1.3023, 1.3003 ----------------------- GBPUSD : HIGH 1.53427 LOW 1.53101 BID 1.53115 ASK 1.53119 CHANGE -0.05% TIME 08:22:52 OUTLOOK SUMMARY Up TREND CONDITION Up trend TRADERS SENTIMENT Bearish IMPLIED VOLATILITY Medium Upwards scenario: Next barrier on the upside lie at 1.5343 (R1). Surpassing of this level might enable our initial target at 1.5362 (R2) and any further gains would then be limited to last resistive structure at 1.5382 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.5307 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.5287 (S2) and 1.5267 (S3). Resistance Levels: 1.5343, 1.5362, 1.5382 Support Levels: 1.5307, 1.5287, 1.5267 ---------------------- USDJPY : HIGH 99.88 LOW 99.333 BID 99.838 ASK 99.839 CHANGE 0.31% TIME 08:22:52 OUTLOOK SUMMARY Down TREND CONDITION Upward penetration TRADERS SENTIMENT Bullish IMPLIED VOLATILITY Medium Upwards scenario: Possible bullish penetration might face next challenge at 100.02 (R1). Break here is required to establish retracement action, targeting 100.32 (R2) en route towards to last resistance for today at 100.65 (R3). Downwards scenario: Penetration below the support at 99.31 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 99.04 (S2) and 98.75 (S3) might be triggered. Resistance Levels: 100.02, 100.32, 100.65 Support Levels: 99.31, 99.04, 98.75 Source: FX Central Clearing Ltd,( Forex Training | Best Automatic Forex Trading Platforms | FXCC )

Forex Technical & Market Analysis FXCC May 31 2013 Will the Dollar Recover Too? U.S. stocks and Treasury yields resumed their rise but the dollar failed to follow. Instead of trading higher, the greenback lost value against most of the major currencies. The EUR/USD rose above 1.30 and USD/JPY slipped below 101 after a round of weaker than expected economic data. Equity and fixed income traders shrugged off the data but FX traders refused to budge. Long dollar positions are still being cut which suggests that currency traders are still worried about the volatility in the financial markets and the eagerness of the Fed to taper asset purchases. U.S. equity and fixed income traders have completely ignored the 5% drop in the Nikkei overnight. Japanese stocks are 13% off its highs and if it continues to decline, it may have ripple effects over to U.S. markets and keep the dollar in corrective mode. However if the Nikkei stabilizes and starts to recover, then the dollar has a chance of joining the recovery. https://support.fxcc.com/email/technical/31052013/ FOREX ECONOMIC CALENDAR 2013-05-31 08:30 GMT UK. Net Lending to Individuals (MoM) 2013-05-31 09:00 GMT EMU. Consumer Price Index - Core (YoY) 2013-05-31 12:30 GMT USA. Personal Spending (Apr) 2013-05-31 13:55 GMT USA. Reuters/Michigan Consumer Sentiment Index (May) FOREX NEWS 2013-05-31 04:01 GMT ‘Pennant’ pattern break out on EUR/USD targets a move north of 1.3200 2013-05-31 03:43 GMT Aussie advances capped below 0.9700 2013-05-31 02:30 GMT EUR/AUD off fresh 1.5-year highs below 1.35 2013-05-31 01:53 GMT AUD/JPY firm bounce off 97.00 support, sets eyes on 98.30 --------------------- Forex Technical Analysis EURUSD MARKET ANALYSIS – Intraday Analysis HIGH 1.30593 LOW 1.30312 BID 1.30405 ASK 1.30410 CHANGE -0.06% TIME 08 : 39:18 OUTLOOK SUMMARY Up TREND CONDITION Up trend TRADERS SENTIMENT Bearish IMPLIED VOLATILITY Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Further bullish momentum might occur if the price manages to climb above the key resistance level at 1.3061 (R1). Next targets on the way could be exposed at 1.3081 (R2) and 1.3101 (R3). Downwards scenario: On the other hand, corrective action would be reasonable scenario in current price setup. Next on tap is seen support level at 1.3026 (S1), break here is required to enable our initial targets at 1.3006 (S2) and 1.2987 (S3) Resistance Levels: 1.3061, 1.3081, 1.3101 Support Levels: 1.3026, 1.3006, 1.2987 --------------------- Forex Technical Analysis GBPUSD MARKET ANALYSIS – Intraday Analysis HIGH 1.52392 LOW 1.52151 BID 1.52260 ASK 1.52269 CHANGE -0.02% TIME 08 : 39:19 OUTLOOK SUMMARY Up TREND CONDITION Up trend TRADERS SENTIMENT Bullish IMPLIED VOLATILITY Medium Upwards scenario: An evidence of further uptrend formation could be provided if the pair manages to surpass key resistive barrier at 1.5239 (R1). Execution of protective orders above that level might enable initial targets at 1.5257 (R1) and 1.5274 (R3). Downwards scenario: Recent upside momentum likely exhausted and we expect some stabilization ahead. Next supportive bastion lies at 1.5211 (S1). Prolonged movement below it might then expose our intraday targets at 1.5193 (S2) and 1.5176 (S3). Resistance Levels: 1.5239, 1.5257, 1.5274 Support Levels: 1.5211, 1.5193, 1.5176 -------------------------- Forex Technical Analysis USDJPY MARKET ANALYSIS – Intraday Analysis HIGH 101.281 LOW 100.679 BID 100.871 ASK 100.874 CHANGE 0.15% TIME 08 : 39:20 OUTLOOK SUMMARY Down TREND CONDITION Sideway TRADERS SENTIMENT Bullish IMPLIED VOLATILITY Medium Upwards scenario: Price has comfortably ranged on the hourly timeframe however we see potential to overcome our next resistance level at 101.30 (R1) later on today. Our eventual targets locates at 101.60 (R2) and 101.90 (R3). Downwards scenario: If the price failed to gain momentum on the upside we expect retest of our key support level at 100.47 (S1). Clearance here is required to keep the downside extension intact and enable our lower targets at 100.16 (S2) and 99.87 (S3). Resistance Levels: 101.30, 101.60, 101.90 Support Levels: 100.47, 100.16, 99.87 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC May 29 2013 EUR Succumbs to Rise in U.S. Yields Demand for U.S. dollars kept pressure on the euro and all major currencies throughout the North American session. Between the recovery in U.S. stocks and the surge in U.S. yields, the dollar is one of the most coveted currencies. Even though we haven’t seen a major pickup in foreign demand for U.S. dollars, particularly from Japan, the longer U.S. yields hold above 2% (10 year yields are at 2.15%), the more tempting it will be for foreign investors. The lack of U.S. data at the front of the week means the lack of threat to the dollar rally. As long as the good news continues to flow in, the dollar will remain in demand. How well the greenback performs against various currencies will of course depend on how economic data from those countries fare. We have seen some recent improvements in Eurozone data that reduces the chance of additional easing by the European Central Bank. German labor market numbers are scheduled for release tomorrow and an upside surprise will keep the EUR above 1.28. The main driver of EUR/USD weakness has been the divergence between U.S. and Eurozone data – one was improving as the other was deteriorating. If we start to see improvements in the Eurozone economy, then the dynamics affecting the euro will start to change to benefit of the currency. Unfortunately based on the latest PMI numbers, there’s a risk of a downside surprise. According to the report, staffing levels fell for the first time since January with job shedding seen in both the manufacturing and service sectors. If unemployment rolls climb in the month of May, the EUR/USD could extend its losses but even then, the losses could be contained to 1.28, a level that has held for the past month. We probably need to see back to back weakness in Eurozone data (German unemployment and retail sales) for 1.28 to be broken. http://blog.fxcc.com/forex-technical-market-analysis-may-29-2013/ FOREX ECONOMIC CALENDAR 2013-05-29 07:55 GMT Germany. Unemployment Change (May) 2013-05-29 12:00 GMT Germany. Consumer Price Index (YoY) (May) 2013-05-29 14:00 GMT Canada. BoC Interest Rate Decision 2013-05-29 23:50 GMT Japan. Foreign bond investment FOREX NEWS 2013-05-29 04:41 GMT Sterling hovering above critical support at 1.5000 2013-05-29 04:41 GMT USD unchanged; IMF lowers China GDP forecast 2013-05-29 04:16 GMT EUR/USD technical picture continues to sour, more declines to come? 2013-05-29 03:37 GMT AUD/JPY continues to find firm bids near 97.00 Forex Technical Analysis EURUSD MARKET ANALYSIS – Intraday Analysis Upwards scenario: Our medium-term outlook is shifted to the negative side after the losses provided yesterday, however market appreciation is possible above the next resistance at 1.2880 (R1). Loss here would suggest next intraday targets at 1.2899 (R2) and 1.2917 (R3). Downwards scenario: Fresh low at 1.2840 (S1) offers a key resistive measure on the downside. Break here is required to enable bearish pressure and validate next target at 1.2822 (S2). Final support for today locates at 1.2803 (S3). Resistance Levels: 1.2880, 1.2899, 1.2917 Support Levels: 1.2840, 1.2822, 1.2803 Forex Technical Analysis GBPUSD MARKET ANALYSIS – Intraday Analysis Upwards scenario: Our attention on the upside is put to the next resistive barrier at 1.5052 (R1). Break here is required to stimulate bullish forces to expose initial targets at 1.5078 (R2) and 1.5104 (R3) later on today. Downwards scenario: On the other hand, break below the support at 1.5014 (S1) is required to enable further market decline. Our next supportive measures locates at 1.4990 (S2) and 1.4967 (S3). Resistance Levels: 1.5052, 1.5078, 1.5104 Support Levels: 1.5014, 1.4990, 1.4967 Forex Technical Analysis USDJPY MARKET ANALYSIS – Intraday Analysis Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 102.53 (R1) would enable bullish forces and might drive market price towards to our initial targets at 102.70 (R2) and 102.89 (R3). Downwards scenario: On the other hand, prolonged movement below the initial support level at 102.01 (S1) might trigger protective orders execution and drive market price towards to supportive means at 101.82 (S2) and 101.61 (S3). Resistance Levels: 102.53, 102.70, 102.89 Support Levels: 102.01, 101.82, 101.61 Source: FX Central Clearing Ltd,( Forex Trading Education | ECN Trading Forex Account | FXCC )

Forex Technical & Market Analysis FXCC May 28 2013 As last week’s volatility in Japanese markets demonstrates central banks do not have it all their own way. Unfortunately for Japan the risk remains that policy makers spur higher yields without accompanying growth, an outcome that would be highly undesirable, especially if it hits economic activity. Equity markets and risk assets in general came under pressure and safe havens found long lost bids, with core bond yields moving lower and JPY and CHF strengthening. The heightened volatility in markets was also partly triggered by concerns about the timing of the tapering off of Fed asset purchases, with Fed Chairman Bernanke setting the cat amongst the pigeons by with commenting about the possibility of reducing asset purchases over the next few meetings. Additionally weaker than forecast Chinese manufacturing confidence data came as another blow to markets. While the market reaction looked a tad overdone in it is notable that the dichotomy between growth and equity market performance has widened over recent weeks. This week is likely to begin on a calmer note, with holidays in the US and UK today. Data releases in the US will remain encouraging , with May consumer confidence likely to move higher although US Q1 GDP is likely to be revised slightly lower to 2.4% due an inventories hit. In Europe, while the trajectory of recovery is starting from a much lower base there will be some improvement in business confidence in May while inflation will be well contained at 1.3% YoY in May, an outcome that will maintain room for more European Central Bank policy easing. In Japan a sixth straight negative CPI reading will highlight jus how difficult the job is for the Bank of Japan to meet its inflation target. The JPY was a major beneficiary of last week’s volatility helped by short covering as speculative positioning in the currency reached its lowest level since July 2007. A calmer tone to markets ought to ensure that JPY upside will be limited and USD buyers are likely to emerge just below the USD/JPY 100 level. In contrast the EUR has been surprisingly well behaved despite the fact that speculative EUR positioning has also dropped sharply over recent weeks. While the overall trend is lower EUR/USD will find some support on any dip to around 1.2795 this week. http://blog.fxcc.com/forex-technical-market-analysis-may-28-2013/ FOREX ECONOMIC CALENDAR 2013-05-28 06:00 GMT Switzerland. Trade Balance (Apr) 2013-05-28 07:15 GMT Switzerland. Employment Level (QoQ) 2013-05-28 14:00 GMT USA. Consumer Confidence (May) 2013-05-28 23:50 GMT Japan. Retail Trade (YoY) (Apr) FOREX NEWS 2013-05-28 05:22 GMT USD/JPY offered at 102 figure 2013-05-28 04:23 GMT Bearish chart pattern developments still favor further downside in EUR/USD 2013-05-28 04:17 GMT AUD/USD erased all loses, back above 0.9630 2013-05-28 03:31 GMT GBP/USD chopping around 1.5100 in Asia trade Forex Technical Analysis EURUSD MARKET ANALYSIS – Intraday Analysis Upwards scenario: Recently pair gained momentum on the downside however appreciation above the next resistance at 1.2937 (R1) might be a good catalyst for a recovery action towards to next expected targets at 1.2951 (R2) and 1.2965 (R3). Downwards scenario: Any downside penetration is limited now to the initial support level at 1.2883 (S1). A breach of which would open a route towards to next target at 1.2870 (S2) and potentially could expose our final support at 1.2856 (S3) later on today. Resistance Levels: 1.2937, 1.2951, 1.2965 Support Levels: 1.2883, 1.2870, 1.2856 Forex Technical Analysis GBPUSD MARKET ANALYSIS – Intraday Analysis Upwards scenario: New portion of macroeconomic data releases might increase volatility later on today. Our resistances at 1.5139 (R2) and 1.5162 (R3) could be exposed in case of possible upwards penetration. But first, price is required to overcome our key resistive barrier at 1.5117 (R1). Downwards scenario: Downside development remains for now limited to the next technical mark at 1.5085 (S1), clearance here would create a signal of possible market weakening towards to next expected targets at 1.5063 (S2) and 1.5040 (S3). Resistance Levels: 1.5117, 1.5139, 1.5162 Support Levels: 1.5085, 1.5063, 1.5040 Forex Technical Analysis USDJPY MARKET ANALYSIS – Intraday Analysis Upwards scenario: USDJPY upwards penetration is approaching our next resistive barrier at 102.14 (R1). Surpassing of this level may initiate bullish pressure towards to next visible targets at 102.41 (R2) and 102.68 (R3). Downwards scenario: Risk of possible corrective action is seen below the support at 101.65 (S1). With penetration here opens a route towards to our immediate support level at 101.39 (S2) and any further price cut would then be limited to final target at 101.10 (S3). Resistance Levels: 102.14, 102.41, 102.68 Support Levels: 101.65, 101.39, 101.10 Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

Forex Technical & Market Analysis FXCC May 27 2013 EU gives the go-ahead to Spanish bank restructuring plan The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaquín Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017. Joaquín Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017. http://blog.fxcc.com/forex-technical-market-analysis-may-27-2013/ FOREX ECONOMIC CALENDAR : 2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov) 2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech 2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3) 2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct) FOREX NEWS : 2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo 2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020 2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism 2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 – Scotiabank Forex Technical Analysis EURUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3). Resistance Levels: 1.2962, 1.2980, 1.2996 Support Levels: 1.2939, 1.2921, 1.2903 Forex Technical Analysis GBPUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3). Resistance Levels: 1.6021, 1.6031, 1.6042 Support Levels: 1.6005, 1.5994, 1.5983 Forex Technical Analysis USDJPY : MARKET ANALYSIS – Intraday Analysis Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3). Resistance Levels: 82.22, 82.30, 82.39 Support Levels: 82.00, 81.91, 81.82 Source: FX Central Clearing Ltd,( Currency Converter | Top ECN Forex Broker | Forex Demo Account | FXCC )

Forex Technical & Market Analysis FXCC May 24 2013 Will German GDP/IFO be the catalyst to take EUR/USD back above 1.3000? The EUR/USD finished the session sharply higher, mainly benefiting from a better than expected European PMI data print. It will be another busy upcoming economic session in Europe, with German GDP due out at 6:00GMT, followed by German IFO at 8:00GMT. One has to ask, if the print comes in better than expected, will it be enough to take the pair back above the critical resistance level of 1.3000(the 20dma)? According to analysts at Rabobank, “there was a modestly firmer tone, maybe a ‘less downbeat tone’ is a better description because despite improvement they remain sub-50, to the suite of eurozone PMIs. In Germany, the Manufacturing PMI gained to 49.0, up from April’s 48.1 and the Services PMI ticked up to 49.8 from 49.6. France’s Manufacturing PMI increased to 45.5 from 44.4 and the Services PMI held steady at 44.3. For the eurozone as a whole, the Manufacturing PMI gained to 47.8 from April’s 46.7.” They went on to add,“there’s no particularly strong message in these data but they are consistent with our thinking – and that of the ECB – that Europe’s economy will show some improvement as this year unfolds. Calmer financial market conditions should pay a positive dividend to the real economy over time.” The ‘risk on’ vs. ‘risk off’ sentiment of the equity market will also be something to keep in mind. It was interesting to see the EUR/USD go well bid on a day when the Nikkei dropped 7%. However, its hard to imagine this correlation continuing should US equities start a serious correction. Furthermore, some analysts believe that just because the recent EU PMI data came in better than expected, EU officials will not deviate from the dovish rhetoric which has been plentiful in recent weeks. https://support.fxcc.com/email/technical/24052013/ FOREX ECONOMIC CALENDAR : 2013-05-24 06:00 GMT | Germany. Gfk Consumer Confidence Survey (Jun) 2013-05-24 08:00 GMT | Germany. IFO - Business Climate (May) 2013-05-24 10:00 GMT | Germany. German Buba President Weidmann speech 2013-05-24 12:30 GMT | USA. Durable Goods Orders (Apr) FOREX NEWS : 2013-05-24 04:14 GMT | USD/JPY breaks below 102 like hot butter once again 2013-05-24 04:03 GMT | AUD/USD gets pounded down to 0.9650 2013-05-24 03:21 GMT | Sterling holds support at previous lows, continues to find aggressive bids near 1.5000 2013-05-24 02:13 GMT | GBP/JPY closes below 20dma for first time since April 5th EURUSD : HIGH 1.2937 LOW 1.29041 BID 1.29290 ASK 1.29294 CHANGE -0.03% TIME 08 : 17:53 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: EURUSD consolidates prior macroeconomic news announcement. Our next resistive barrier is seen at 1.2945 (R1). Break here is required to drive market price towards to next visible targets at 1.2962 (R2) and 1.2978 (R3) later on today. Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.2903 (S1). Possible price devaluation would suggest next initial targets at 1.2886 (S2) and then 1.2867 (S3). Resistance Levels: 1.2945, 1.2962, 1.2978 Support Levels: 1.2903, 1.2886, 1.2867 ---------------------- GBPUSD : HIGH 1.51139 LOW 1.50639 BID 1.51015 ASK 1.51026 CHANGE -0.02% TIME 08 : 17:53 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: GBPUSD retraced after the initial downtrend formation. Next resistive barrier on the way is mark at 1.5119 (R1). Loss here is required to push the price towards to our targets at 1.5147 (R2) and 1.5177 (R3) later on today. Downwards scenario: Our next support level lies at 1.5062 (S1). Clearance here might resume downtrend expansion. Our intraday target locates at 1.5031 (S2) and 1.5001 (S3). Resistance Levels: 1.5119, 1.5147, 1.5177 Support Levels: 1.5062, 1.5031, 1.5001 --------------------- USDJPY : HIGH 102.585 LOW 101.084 BID 101.480 ASK 101.482 CHANGE -0.52% TIME 08 : 17:54 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow from Japan, though a break of our resistance at 102.00 (R1) would suggest next targets at 102.35 (R2) and 102.70 (R3). Downwards scenario: A short-term technical structure might turn into negative side below the support level at 101.07 (S1). Possible price depreciation would then be targeting support at 100.76 (S2) en route to final target at 100.43 (S3). Resistance Levels: 102.00, 102.35, 102.70 Support Levels: 101.07, 100.76, 100.43 Source: FX Central Clearing Ltd,( Free Forex Demo Account | Forex Software | Forex Trading Blog | FXCC )

Forex Technical & Market Analysis FXCC May 23 2013 FOMC minutes show members open to tapering QE The minutes from the April 30 and May 1 FOMC meeting showed that "a number" of officials expressed willingness to taper the bond buying program as early as the June meeting "if the economic information received by that time showed evidence of sufficiently strong and sustained growth". However, according to the minutes, views differed about what evidence would be necessary and the likelihood of that outcome. One Fed official wanted to stop the bond purchases immediately, while another wanted to increase the size of the program. Despite the discrepancies, most members emphasized importance of being prepared to adjust purchases either up or down. The minutes also revealed the Fed started a review of their exit strategy principles last released to the public in 2011. The broad principles appeared generally still valid, but the bank will probably need greater flexibility regarding the details of implementing policy normalization. The greenback surged against majority of its person Wednesday after Fed Chairman Ben Bernanke hinted at possibilities of the central bank slowing its bond purchases. Initially, dollar briefly dropped across the board after Bernanke said monetary stimulus is helping the U.S.economy recovery. http://blog.fxcc.com/forex-technical-market-analysis-may-23-2013/ FOREX ECONOMIC CALENDAR 2013-05-23 07:30 GMT ECB President Draghi's Speech senectus 2013-05-23 08:30 GMT Gross Domestic Product (YoY) (Q1) 2013-05-23 12:30 GMT Initial Jobless Claims (May 17) 2013-05-23 14:00 GMT New Home Sales (MoM) (Apr) FOREX NEWS 2013-05-23 04:13 GMT More volatility expected with EU PMI on tap 2013-05-23 03:32 GMT USD/JPY turns below 103.5 on bad China data 2013-05-23 03:09 GMT GBP/JPY edging lower towards support at 154.50 2013-05-23 03:01 GMT AUD/NZD glued to 1.20 despite Aussie disaster ------------------------ Forex Technical Analysis EURUSD MARKET ANALYSIS – Intraday Analysis Upwards scenario: EURUSD broke all supportive measure yesterday and currently stabilized near its lows. Appreciation above the resistive barrier at 1.2864 (R1) is compulsory to commence positive market structure and validate next intraday targets at 1.2887 (R2) and 1.2909 (R3). Downwards scenario: However our both moving averages are pointing down and if the price manages to break our key support level at 1.2824 (S1) we would expect further depreciation towards to our next targets, located at 1.2803 (S2) and 1.2781 (S3). Resistance Levels: 1.2864, 1.2887, 1.2909 Support Levels: 1.2824, 1.2803, 1.2781 ----------------------- Forex Technical Analysis GBPUSD MARKET ANALYSIS – Intraday Analysis Upwards scenario: Prolonged movement yesterday on the downside determined negative bias on the short-term perspective. Though possible penetration above the resistance level at 1.0573 (R1) might keep bulls in play, targeting next resistances at 1.5109 (R2) and 1.5145 (R3). Downwards scenario: The downside direction remains favored according to the technical indicators. Our key support measure lies at 1.5010 (S1). Decline below it would enable next targets located at 1.4978 (S2) and 1.4944 (S3). Resistance Levels: 1.5073, 1.5109, 1.5145 Support Levels: 1.5010, 1.4978, 1.4944 -------------------------- Forex Technical Analysis USDJPY MARKET ANALYSIS – Intraday Analysis Upwards scenario: Price accelerates on the downside recently and likelihood of closing on the positive side today is low. However price appreciation the next resistance level at 102.25 (R1) would suggest next initial targets at 102.55 (R2) and 102.84 (R3). Downwards scenario: Next barrier on the way is seen at 101.76 (S1). Break here would open way towards to next intraday target at 101.48 (S2) and then final aim locates at 101.19 (S3). Resistance Levels: 102.25, 102.55, 102.84 Support Levels: 101.76, 101.48, 101.19 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC May 22 2013 Bernanke testimony, FOMC minutes, & European data to heighten EUR/USD volatility The EUR/USD finished the day moderately higher, closing up 25 pips at 1.2905 ahead of what is sure to be a volatile session with Fed Chairman Bernanke set to testify in front of congress at 14:00GMT. Furthermore, we will also see the release of the most recent FOMC minutes at 18:00GMT. According to Sean callow of Westpac,“The US calendar is dominated by Fed chairman Bernanke’s testimony on “The Economic Outlook” to the Joint Economic Committee of Congress (10am NY time). He will deliver a prepared text then take numerous questions from both friendly and hostile lawmakers. Volatility over the course of his appearance seems assured, as markets try to quickly decide whether Bernanke is trying to dampen talk of reducing QE some time soon, is affirming such a view or remaining non-committal. USD should gain in the latter two scenarios but we still expect the first outcome – Bernanke arguing that it is too soon to be confident that the economy is recovering sustainably.” Other analysts are pointing towards European economic data as the additional catalysts for the EUR/USD which may help to break the recent range bound activity. Market participants should be aware that later in the week will see a number of European PMI figured which could also heighten volatility. http://blog.fxcc.com/forex-technical-market-analysis-may-22-2013/ FOREX ECONOMIC CALENDAR : 2013-05-22 12:30 GMT | Canada.Retail Sales (MoM) (Mar) 2013-05-22 14:00 GMT | USA.Existing Home Sales (MoM) (Apr) 2013-05-22 14:00 GMT | USA.Fed's Bernanke testifies 2013-05-22 18:00 GMT | USA.FOMC Minutes FOREX NEWS : 2013-05-22 03:26 GMT | USD/JPY steady near 102.50 after BoJ Monetary Policy release 2013-05-22 02:43 GMT | AUD/USD still around 0.98 despite worsening consumer confidence in | Australia 2013-05-22 02:41 GMT | GBP/JPY – Will buyers have enough force to take out 156.80 resistance? 2013-05-22 00:22 GMT | EUR/USD working its way higher thru 1.2920/40 supply ----------------------- Forex Technical Analysis EURUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: Instrument stabilized after the gains provided yesterday. Penetration above the resistive structure at 1.2926 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.2940 (R2) and 1.2955 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 1.2905 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 1.2889 (S2) and 1.2877 (S3) later on. Resistance Levels: 1.2926, 1.2940, 1.2955 Support Levels: 1.2905, 1.2889, 1.2877 ---------------------- Forex Technical Analysis GBPUSD : Upwards scenario: Next actual resistance level is seen at 1.5160 (R1). If the market manages to surge higher, our focus would returned to the next target at 1.5179 (R2) and further recovery action could be exhausted at 1.5197 (R3) intraday. Downwards scenario: Price regress below the support level at 1.5128 (S1) would increase likelihood of failing towards to our key supportive barrier at 1.5110 (S2) and any further market decline would then be targeting final support for today at 1.5092 (S3). Resistance Levels: 1.5160, 1.5179, 1.5197 Support Levels: 1.5128, 1.5110, 1.5092 --------------------- Forex Technical Analysis USDJPY : Upwards scenario: Any upside actions looks limited to resistance level at 102.64 (R1). Surpassing of this level might enable next target at 102.73 (R2) and any further gains would then be targeting final mark at 102.86 (R3) in potential. Downwards scenario: Our next support level at 102.44 (S1) limits possible recovery attempts for now. Break here is required to establish negative market sentiment and enable lower target at 102.35 (S2) en route to final target at 102.25 (S3). Resistance Levels: 102.64, 102.73, 102.86 Support Levels: 102.44, 102.35, 102.25 Source: FX Central Clearing Ltd,( Forex Training | Currency Converter | ECN Forex Trading Accounts | FXCC )

Forex Technical & Market Analysis FXCC May 21 2013 Fed-Speak to dominate EUR/USD trading in coming days The EUR/USD was able to claw back a small portion of its losses suffered last week, finishing the day up 64 pips at 1.2884. Economic news was light on the session with European markets closed and no releases out of the US. Market participants will be expecting volatility to really pick up later in the week when we see Fed Chairman Bernanke’s testimony to Congress, the release of the most recent FOMC minutes, and a number of other regional Fed speakers on the wires. Given the recent market buzz of the prospects of Fed tapering QE, the next few days could help set a more established trend for the pair as we near month end. According to Marc Chandler, Head Currency Strategist at BBH, “in the US, the FOMC minutes from the April 30/May 1 meeting will be released on Wednesday. Markets will be parsing them very thoroughly for any clues about QE tapering. Those minutes will be sandwiched between another heavy slate of Fed speakers including Bullard and Dudley on Tuesday, Bernanke testimony on Wednesday, and Bullard again on Thursday. Bernanke’s testimony will be the most important, of course. While we expect the key Fed officials to signal steady as she goes with regards to QE, we acknowledge that markets could see some turbulence.” Other analysts also mention to keep a focus on Europe, as we will see a number of important PMI releases from the region later in the week as well as speeches from important European officials including ECB President Draghi. http://blog.fxcc.com/forex-technical-market-analysis-may-21-2013/ FOREX ECONOMIC CALENDAR : 2013-05-21 06:00 GMT | Germany. Producer Price Index (YoY) (Apr) 2013-05-21 08:30 GMT | UK. Consumer Price Index (YoY) (Apr) 2013-05-21 14:00 GMT | USA. Treasury Sec Lew Speech 2013-05-21 23:50 GMT | Japan. Merchandise Trade Balance Total (Apr) FOREX NEWS : 2013-05-21 04:36 GMT | Fed-Speak to dominate EUR/USD trading in coming days 2013-05-21 04:26 GMT | USD/JPY, break through 103.5 allows 105/105.50 – JPMorgan 2013-05-21 03:19 GMT | EUR/JPY continues to eye upper end of range near 133.00 2013-05-21 01:48 GMT | AUD/USD consolidates below 0.9800 after RBA minutes release --------------------- Forex Technical Analysis EURUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.2905 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.2930 (R2) and 1.2955 (R3). Downwards scenario: On the other hand, possible downtrend development may encounter supportive measure at 1.2860 (S1). Penetration through this level would targeting then supportive means at 1.2836 (S2) and 1.2811 (S3) later on today. Resistance Levels: 1.2905, 1.2930, 1.2955 Support Levels: 1.2860, 1.2836, 1.2811 ---------------------------- Forex Technical Analysis GBPUSD : Upwards scenario: While both moving averages are pointing down, medium-term technical outlook would be positive. Key resistance level lie at 1.5281 (R1), above here opens a route towards to our initial targets at 1.5308 (R2) and 1.5336 (R3). Downwards scenario: Local low at 1.5221 (S1) offers next immediate support barrier. Successful penetration below it would open path towards to next intraday targets at 1.5194 (S2) and 1.5165 (S3). Resistance Levels: 1.5281, 1.5308, 1.5336 Support Levels: 1.5221, 1.5194, 1.5165 --------------------------- Forex Technical Analysis USDJPY : Upwards scenario: On the upside resistive structure at 102.77 (R1) prevents further gains. Clearance here is required to open route towards to next target at 103.10 (R2) and then final target could be triggered at 103.43 (R3). Downwards scenario: On the other hand, pair keeps the consolidation pattern intact. We see potential to positively retest supportive barrier at 102.19 (S1). Depreciation below it would open route towards to initial targets at 101.86 (S2) and 101.52 (S3) in potential. Resistance Levels: 102.77, 103.10, 103.43 Support Levels: 102.19, 101.86, 101.52 Source: FX Central Clearing Ltd,( ECN FX Broker Platform | Forex Account | Currency Converter | FXCC )

Forex Technical & Market Analysis FXCC May 15 2013 EU gives the go-ahead to Spanish bank restructuring plan The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaquín Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017. Joaquín Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017. http://blog.fxcc.com/forex-technical-market-analysis-may-15-2013/ FOREX ECONOMIC CALENDAR : 2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov) 2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech 2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3) 2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct) FOREX NEWS : 2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo 2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020 2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism 2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 – Scotiabank -------------------- Forex Technical Analysis EURUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3). Resistance Levels: 1.2962, 1.2980, 1.2996 Support Levels: 1.2939, 1.2921, 1.2903 ------------------ Forex Technical Analysis GBPUSD : Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3). Resistance Levels: 1.6021, 1.6031, 1.6042 Support Levels: 1.6005, 1.5994, 1.5983 ------------------- Forex Technical Analysis USDJPY : Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3). Resistance Levels: 82.22, 82.30, 82.39 Support Levels: 82.00, 81.91, 81.82 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC May 14 2013 Schäuble suggests revising EU treaties to make way for banking union German finance minister Wolfgang Schäuble told the Financial Times today that the banking union could not be completed without a modification of EU treaties. The process of changing them however could last several months or even years. According to Schäuble the existing treaties “do not suffice” to allow for forming a strong central resolution authority. Therefore he warned against making promises which the EU cannot keep, as they would directly affect its credibility. “The EU does not have coercive means to enforce decisions” Schäuble said. “What it has are responsibilities and powers defined by its treaties.” A change to the treaties would provide a better separation of the ECB's monetary and supervisory functions. The German finance minister is conscious that such changes might take a long time, so he proposed a two-step process consisting of a resolution mechanism based on a network of national authorities as well as a network of resolution funds. Even though Schäuble acknowledges that such a structure would not be trons enough in the long term, he believes that it would allow to buy time and create the base for reaching the final objective: a European banking union, which encompasses the entire interior market. https://support.fxcc.com/email/technical/14052013/ FOREX ECONOMIC CALENDAR : 24h | EMU. EcoFin Meeting 2013-05-14 06:00 GMT | Germany. Consumer Price Index 2013-05-14 09:00 GMT | Germany. ZEW Survey - Economic Sentiment 2013-05-14 09:30 GMT | Australia. Budget Release FOREX NEWS : 2013-05-14 04:28 GMT | Look to get long EUR/JPY into support levels 2013-05-14 03:58 GMT | EUR/USD still range bound ahead of busy economic calendar week 2013-05-14 03:46 GMT | AUD/USD, outlook is bearish but be patient - RBS 2013-05-14 03:11 GMT | GBP/USD completes ‘bear flag’ pattern on daily chart EURUSD : HIGH 1.30261 LOW 1.29693 BID 1.30029 ASK 1.30033 CHANGE 0.21% TIME 08 : 33:12 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Possibility of uptrend penetration is seen above the next resistance level at 1.3026 (R1). Clearance here might enable bullish pressure and let the price to achieve our intraday targets at 1.3044 (R2) and 1.3062 (R3). Downwards scenario: On the short-term perspective the pair might encounter supportive measures at 1.2992 (S1). Loss here might change intraday technical structure and opens the way for a test of 1.2971 (S2) and 1.2951 (S3) later on today. Resistance Levels: 1.3026, 1.3044, 1.3062 Support Levels: 1.2992, 1.2971, 1.2951 -------------------- GBPUSD : HIGH 1.5331 LOW 1.52939 BID 1.53144 ASK 1.53152 CHANGE 0.1% TIME 08 : 33:12 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Medium Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.5334 (R1). Price extension above it is required to validate our next intraday targets at 1.5358 (R2) and 1.5383 (R3) Downwards scenario: On the other hand if the price manages to overcome our next support barrier at 1.5296 (S1), we expect to see further market decline towards to our target at 1.5272 (S2) and then next stop could be found at 1.5249 (S3) mark. Resistance Levels: 1.5334, 1.5358, 1.5383 Support Levels: 1.5296, 1.5272, 1.5249 ------------------------- USDJPY : HIGH 101.849 LOW 101.365 BID 101.439 ASK 101.441 CHANGE -0.37% TIME 08 : 33:13 OUTLOOK SUMMARY : Up TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium Upwards scenario: Medium term bias remains positive however further market rise is limited now to the key resistive barrier at 101.78 (R1), clearance here is required to enable next resistances at 102.22 (R2) and last one at 102.67 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 101.21 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 100.77 (S2) and 100.35 (S3) later on. Resistance Levels: 101.78, 102.22, 102.67 Support Levels: 101.21, 100.77, 100.35 Source: FX Central Clearing Ltd,( ECN Forex Software | The Best Forex Broker | Forex Account | FXCC )

Forex Technical & Market Analysis FXCC May 13 2013 Japan rests re-assured not labeled 'currency manipulator' by G7 Over the weekend, the G7 re-assured the market that Japan is not deliberately weakening the yen in order to create a competitive advantage against other industrialized nations. The group repeated its old same lines about its commitment to avoid artificial currency devaluation for domestic gain purposes, while re-iterating its commitment to avoid volatility in FX rates. According to Mike Paterson, editor at Forexlive: "The general consensus seems to be they accept Japan’s arguments that their dramatic easing on monetary policy is aimed at combating deflation rather than weaker currency advantage." Mr. Paterson thinks the last developments in the G7 meeting "should be the green light for further yen selling when markets re-open given that it takes the uncertainty out of the equation but the announcement was hardly a surprise" he said. It will be interesting to see just how much weaker it gets in the early stages. Failure to drop too far will suggest that there rightly should be an air of caution after such rapid falls. But as the say goes, all that glitters is not gold, and US, Canada and Germany were all suspiciously more notorious on voicing out a closer monitoring over Japan's next policy actions. As Mr. Paterson rightly points out, "behind the scenes of G7, sure there is not such a united front as they wish to portray." U.S. Treasury Secretary Jack Lew had something to say on yen weakness: “We’ll keep an eye on that”, suggesting that any signs of currency manipulation by Japan will be watch very closely, adding that Japan had “growth issues.” Japan's Finance Minister Mr. Aso confirmed to media reporters that no criticism was noted on Japan’s monetary easing. https://support.fxcc.com/email/technical/13052013/ FOREX ECONOMIC CALENDAR : 24h | EMU. Eurogroup meeting 2013-05-13 12:30 GMT | USA. Retail Sales 2013-05-13 14:00 GMT | USA. Business Inventories (Mar) 2013-05-13 22:45 GMT | New Zeland. Retail Sales FOREX NEWS : 2013-05-13 04:32 GMT | EUR/USD uncomfortable below 1.30, further definition needed 2013-05-13 04:21 GMT | USD extends gains; Gold takes a hit 2013-05-13 03:34 GMT | Gold selling off sharply below $1430 2013-05-13 03:24 GMT | USD/JPY, expect little pullback in the high 101s - RBS EURUSD : HIGH 1.29781 LOW 1.29595 BID 1.29756 ASK 1.29758 CHANGE -0.12% TIME 08 : 04:42 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT :Bullish IMPLIED VOLATILITY :Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3011 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets at 1.3036 (R2) and 1.3062 (R3). Downwards scenario: Medium-term bias is clearly negative. Possible progress below the initial support level at 1.2957 (S1) might expose our intraday targets at 1.2934 (S2) and then 1.2909 (S3). Resistance Levels: 1.3011, 1.3036, 1.3062 Support Levels: 1.2957, 1.2934, 1.2909 ------------------------ GBPUSD : HIGH 1.53578 LOW 1.53357 BID 1.53519 ASK 1.53529 CHANGE -0.07% TIME 08 : 04:42 OUTLOOK SUMMARY : Down TREND CONDITION : Down trend TRADERS SENTIMENT :Bullish IMPLIED VOLATILITY :Low Upwards scenario: GBPUSD is consolidating today however we see potential for further appreciation towards to our targets at 1.5403 (R2) and 1.5429 (R3) if the price manages to overcome key resistance measure at 1.5377 (R1). Downwards scenario: Next support level is seen at 1.5334 (S1), any penetration below it might activate further downside pressure and enable lower target at 1.5310 (S2). Any further market decline would then be limited to final support at 1.5284 (S3). Resistance Levels: 1.5377, 1.5403, 1.5429 Support Levels: 1.5334, 1.5310, 1.5284 ------------------ USDJPY : HIGH 102.151 LOW 101.74 BID 101.751 ASK 101.752 CHANGE 0.14% TIME 08 : 04:43 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT :Bearish IMPLIED VOLATILITY :Low Upwards scenario: Further uptrend development is possible above the next resistance level at 102.18 (R1). Break here would open route towards to higher target at 102.65 (R2) and any further price advance would then be limited to 103.12 (R3). Downwards scenario: On the other hand, a break of the support at 101.44 (S1) is required to determine negative intraday bias and enable lower target at 101.01 (S2). Clearance of this target would open a path towards to final support for today at 100.57 (S3). Resistance Levels: 102.18, 102.65, 103.12 Support Levels: 101.44, 101.01, 100.57 Source: FX Central Clearing Ltd,( ECN Broker | Forex Practice Account | Forex Trading Blog | FXCC )

Forex Technical & Market Analysis FXCC May 10 2013 Will a busy economic schedule next week be the catalyst for EUR/USD? The EUR/USD finished the day down 116 pips at 1.3044. Economic data was quiet for the most part but weekly jobless claims out of the US came in better than expected at 323k vs. 3.35k forecast. The US Dollar was well bid across the board, with the majority of action taking place in the USD/JPY which crossed the 100 threshold for the first time in four years. This seemed to help provide additional USD buying against other pairs, and also helped limit advances in commodities which were primarily lower for the day. Economic releases out of the Eurozone in the coming session include German Trade Balance, Italian Industrial Production, and EU Consumer Price Index. After the better than expected jobs number past Friday, and another week of improvement in continued claims, some analysts view it as a sign the US Dollar could be set up for further gains in coming weeks. Furthermore, if we see continued gains in USD/JPY it could also be a tailwind and help the US Dollar remain well bid in other pairs. https://support.fxcc.com/email/technical/10052013/ FOREX ECONOMIC CALENDAR : 2013-05-10 12:30 GMT | US.Fed's Bernanke Speech 2013-05-10 12:30 GMT | CA.Unemployment Rate (Apr) 2013-05-10 12:30 GMT | CA.Net Change in Employment (Apr) 2013-05-10 12:30 GMT | CA.Participation rate (Apr) FOREX NEWS : 2013-05-10 04:36 GMT | Kiwi edging lower in Asia trade 2013-05-10 01:59 GMT | USD/JPY, bulls officially staring at 101.00 from the rear mirror 2013-05-10 01:03 GMT | AUD/USD feeling the selling pressure ahead of RBA statement 2013-05-10 00:28 GMT | USD/JPY completes ‘pennant’ pattern on daily chart, further gains ahead? ---------------------- EURUSD HIGH 1.30467 LOW 1.30214 BID 1.30451 ASK 1.30455 CHANGE 0.03% TIME 08:20:08 OUTLOOK SUMMARY Down TREND CONDITION Downward penetration TRADERS SENTIMENT Bullish IMPLIED VOLATILITY Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3056 (R1). Price extension above it is required to validate our next intraday targets at 1.3079 (R2) and 1.3105 (R3). Downwards scenario: Any downside penetration is limited to the initial support level at 1.3010 (S1). A breach of which would open a route towards to next target at 1.2987 (S2) and potentially could expose our final support for today at 1.2965 (S3). Resistance Levels: 1.3056, 1.3079, 1.3105 Support Levels: 1.3010, 1.2987, 1.2965 ---------------------- GBPUSD HIGH 1.54572 LOW 1.54377 BID 1.54487 ASK 1.54490 CHANGE 0.01% TIME 08:20:09 OUTLOOK SUMMARY Down TREND CONDITION Down trend TRADERS SENTIMENT Bearish IMPLIED VOLATILITY Medium Upwards scenario: Market formed gradual descending move however price appreciation is possible above the next resistance level at 1.5460 (R1). Break here is required to enable next attractive points at 1.5487 (R2) and 1.5516 (R3). Downwards scenario: Penetration below the support at 1.5427 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.5402 (S2) and 1.5380 (S3) might be triggered. Resistance Levels: 1.5460, 1.5487, 1.5516 Support Levels: 1.5427, 1.5402, 1.5380 ---------------------- USDJPY HIGH 101.197 LOW 100.54 BID 100.937 ASK 100.942 CHANGE 0.32% TIME 08:20:10 OUTLOOK SUMMARY Up TREND CONDITION Upward penetration TRADERS SENTIMENT Bearish IMPLIED VOLATILITY Medium Upwards scenario: USD/JPY continue its consolidation phase on the hourly chart. Possibility of uptrend evolvement is seen above the next resistance at 101.11 (R1). Violation here might increase bullish pressure and validate next intraday targets at 101.47 (R2) and 101.83 (R3). Downwards scenario: Further correction development is limited now to the session low - 100.56 (S1). If the price manages to surpass it we would suggest next intraday targets at 100.18 (S2) and 99.75 (S3). Resistance Levels: 101.11, 101.47, 101.83 Support Levels: 100.56, 100.18, 99.75 Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Forex Technical & Market Analysis FXCC May 09 2013 EUR/USD notches a solid day of gains as ‘risk on’ mentality continues In a day where risk assets were primarily well bid across the board, the Euro was able to notch some decent gains, finishing up 81 pips at 1.3159. The initial catalyst which seemed to help push the pair higher was the German Industrial Production (MoM) release which came in at 1.2% actual vs. -0.1% forecast. According to analysts at TD Securities, “In Europe, a solid German industrial production release has boosted the EUR. Not significantly though, as the very well established range that has held since early April remains firmly intact. EUR focus remains on the evolving ECB message, which as we heard last week remains open to another rate cut. They have not signaled any balance sheet expanding programs, however, which overall could leave the EUR well supported.” The German data also seemed to give a boost to both commodities and equities, with oil notching its’ highest close since late March and the S&P 500 closing at a new all time high of 1632.59. The recent behavior of the EUR/USD is beyond confusing as it appears to follow risk assets some days and others have no correlation to outside markets at all. Although it must be noted, the EUR does continue to outperform the commodity currencies such as the AUD and NZD. http://blog.fxcc.com/forex-technical-market-analysis-may-09-2013/ FOREX ECONOMIC CALENDAR : 2013-05-09 11:00 GMT | UK.BoE Asset Purchase Facility 2013-05-09 11:00 GMT | UK.BoE Interest Rate Decision (May 9) 2013-05-09 12:30 GMT | US.Initial Jobless Claims (May 3) 2013-05-09 14:00 GMT | UK.NIESR GDP Estimate (3M) (Apr) FOREX NEWS : 2013-05-09 03:11 GMT | GBP/USD continues to consolidate ahead BOE Rate Decision 2013-05-09 01:19 GMT | Aussie rockets higher after AUD jobs data crushes estimates 2013-05-09 01:19 GMT | EUR/JPY ready for the next leg up? 2013-05-08 23:42 GMT | AUD/JPY finishes slightly lower after narrow range day ------------------------ Forex Technical Analysis EURUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: Instrument stabilized after the gains provided yesterday. Penetration above the resistive structure at 1.3185 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.3206 (R2) and 1.3226 (R3). Downwards scenario: On a slightly longer term we expect pullback formation. Risk of market depreciation is seen below the next support level at 1.3152 (S1). Clearance here would suggest lower targets at 1.3128 (S2) and 1.3105 (S3) in potential. Resistance Levels: 1.3185, 1.3206, 1.3226 Support Levels: 1.3152, 1.3128, 1.3105 ------------------------- Forex Technical Analysis GBPUSD : Upwards scenario: Pair has settled sideways formation on the hourly timeframe. However potential to move higher is seen above the resistance level at 1.5549 (R1) mark. Loss here would suggest next intraday targets at 1.5565 (R2) and 1.5581 (R3). Downwards scenario: Possible downside expansion would attack our support levels at 1.5517(S2) and 1.5498 (S3). However prior reaching our targets, market should manage to overcome the resistive structure at 1.5533 (S1). Resistance Levels: 1.5549, 1.5565, 1.5581 Support Levels: 1.5533, 1.5517, 1.5498 ----------------------- Forex Technical Analysis USDJPY : Upwards scenario: USD/JPY tested negative side the past days, however break above the resistance at 99.00 (R1) is liable to stimulate bullish pressure and validate next targets at 99.14 (R2) and 99.27 (R3). Downwards scenario: Loss of our support level at 96.68 (S1) would open road for a market decline towards to our next target at 98.57 (S2). Any further price weakening would then be limited to final support for today at 98.40 (S3). Resistance Levels: 99.00, 99.14, 99.27 Support Levels: 98.68, 98.57, 98.40 Source: FX Central Clearing Ltd,( Forex Trading Blog | Learn Forex Training | Best Forex Accounts | FXCC )

Forex Technical & Market Analysis FXCC May 08 2013 What Equity Rally Says About Currencies Over the past week, all of the action has been in equities. U.S. stocks powered to new record highs while currencies consolidated quietly. The U.S. dollar weakened against the euro and Japanese Yen and strengthened against the British pound, Swiss Franc, Australian and New Zealand dollars. This divergent price action confirms that there isn't one directional interest in currencies. Part of the reason why currencies have not enjoyed the same type of strong trend as equities is because this is a QE driven rally and with central banks around the world engaged in new rounds of easing, the availability of more stimulus has been ambiguously positive for stocks. Unfortunately these simultaneous easing programs has also clouded the outlook for currencies as investors wonder which central bank will win the race to debase. The rally in stocks and consolidation in currencies also tells us that investors are much more interested in joining the trend in equities than try to figure out whether support or resistance will be broken in currencies. Eventually this will change but for the time being we can't ignore the fact that the big moves are happening in other markets. However what stocks have done for currencies is keep them supported - if not for the equity market rally, we would have probably seen a deeper sell-off in the EUR/USD and AUD/USD. https://support.fxcc.com/email/technical/08052013/ FOREX ECONOMIC CALENDAR : 2013-05-08 10:00 GMT | EU.Industrial Production s.a. w.d.a. (YoY) (Mar) 2013-05-08 12:15 GMT | CA.Housing Starts s.a (YoY) (Apr) 2013-05-08 17:00 GMT | US.10-Year Note Auction 2013-05-08 22:45 GMT | NZ.Unemployment Rate (Q1) FOREX NEWS : 2013-05-08 04:35 GMT | EUR/USD unable to find direction as global equities continue higher 2013-05-08 03:32 GMT | GBP/USD rally runs out of steam, finishes day sharply lower 2013-05-08 02:37 GMT | Aussie attempting to claw back some losses during Asia trade 2013-05-08 00:24 GMT | USD/JPY edging lower during early Asia trade EURUSD : HIGH 1.30975 LOW 1.30716 BID 1.30926 ASK 1.30932 CHANGE 0.12% TIME 08:12:49 OUTLOOK SUMMARY : Up TREND CONDITION : Sideway TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low MARKET ANALYSIS - Intraday Analysis Upwards scenario: While price is quoted above the moving averages out technical outlook would be positive. Yesterday high offers next resistance level at 1.3119 (R1). Any price action above it would suggest next targets at 1.3156 (R2) and 1.3185 (S3). Downwards scenario: Next support level is seen at 1.3072 (S1), any penetration below it might activate downside pressure and enable lower target at 1.3043 (S2). Any further market decline would then be limited to 1.3010 (S3). Resistance Levels: 1.3119, 1.3156, 1.3185 Support Levels: 1.3072, 1.3043, 1.3010 -------------------------- GBPUSD : HIGH 1.54891 LOW 1.54704 BID 1.54798 ASK 1.54805 CHANGE -0.02% TIME 08:12:50 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low Upwards scenario: GBP extended its decline versus the USD and determined a negative short-term technical outlook. However above the resistance at 1.5488 (R1) opens a route towards to next resistive measures at 1.5503 (R2) and 1.5522 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.5474 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.5460 (S2) and 1.5449 (S3). Resistance Levels: 1.5488, 1.5503, 1.5522 Support Levels: 1.5474, 1.5460, 1.5449 ------------------------- USDJPY : HIGH 99.15 LOW 98.64 BID 98.965 ASK 98.969 CHANGE -0.03% TIME 08:12:51 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Low Upwards scenario: Yesterday high offers key resistance level at 99.27 (R1). Clearance here is required to resume uptrend structure towards to next target at 99.43 (R2) and any further price appreciation would then be limited to last resistance for today at 99.63 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 98.78 (S1). Possible price regress could expose our initial targets at 98.62 (S2) and 98.40 (S3) in potential. Resistance Levels: 99.27, 99.43, 99.63 Support Levels: 98.78, 98.62, 98.40 Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

Forex Technical & Market Analysis FXCC May 07 2013 EUR/USD still searching for direction after busy week of economic data After what was an extremely busy week of economic releases and central bank monetary policy meetings, the EUR/USD finished the week up 87 pips at 1.3116. The price action remains extremely choppy with neither side being able to sustain any follow through for a substantial amount of time. Many analysts are now wondering whether or not the “risk on” mentality which was boosted by the better than expected US Jobs data will have any follow through going into upcoming week and how will it influence the foreign exchange market. According to Kathy Lien of BK Asset Management, “Investors put on their rose colored glasses today and drove currencies and equities sharply higher on the back of stronger job growth in the month of April. At a time when other central banks like the ECB and BoJ are kick starting a new round of easing, the better than expected labor market report will keep the Fed comfortably on hold. The question now is whether the payroll driven rally in FX (and stocks) will last. With far less important data on the calendar next week, we think investors will remain optimistic.” https://support.fxcc.com/email/technical/06052013/ FOREX ECONOMIC CALENDAR : 2013-05-06 13:00 GMT | EU.ECB President Draghi's Speech 2013-05-06 14:00 GMT | CA.Ivey Purchasing Managers Index (Apr) 2013-05-06 14:00 GMT | CA.Ivey Purchasing Managers Index s.a (Apr) 2013-05-06 23:30 GMT | AUD.AiG Performance of Construction Index (Apr) FOREX NEWS : 2013-05-06 04:09 GMT | EUR/USD still searching for direction after busy week of economic data 2013-05-06 03:18 GMT | GBP/JPY notches highest close since August 2009 2013-05-06 01:44 GMT | AUD/USD edges lower after weak Aussie retail sales number 2013-05-06 01:02 GMT | NZD/USD edges higher in early Asia trade ----------------------- EURUSD : HIGH 1.31408 LOW 1.31084 BID 1.31214 ASK 1.31219 CHANGE 0.05% TIME 08:16:42 OUTLOOK SUMMARY : Up TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Medium MARKET ANALYSIS - Intraday Analysis Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.3156 (R1). Clearance here is required to validate next interim target at 1.3185 (R2) and any further rise would then be targeting mark at 1.3219 (R3). Downwards scenario: On the other hand, instrument retests our next support level at 1.3117 (S1) today. Market decline below it would create a stronger bearish sentiment and enable our interim target at 1.3084 (S2). Final support for today locates at 1.3057 (S3). Resistance Levels: 1.3156, 1.3185, 1.3219 Support Levels: 1.3117, 1.3084, 1.3057 ----------------------- GBPUSD : HIGH 1.55981 LOW 1.55334 BID 1.55812 ASK 1.55823 CHANGE 0.07% TIME 08:16:42 OUTLOOK SUMMARY : Up TREND CONDITION : Up trend TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : Low Upwards scenario: While price is quoted above the moving averages out technical outlook would be positive. Yesterday high offers next resistance level at 1.5598 (R1). Any price action above it would suggest next targets at 1.5629 (R2) and 1.5659 (S3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.5573 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.5550 (S2) and 1.5522 (S3). Resistance Levels: 1.5598, 1.5629, 1.5659 Support Levels: 1.5573, 1.5550, 1.5522 ------------------ USDJPY : HIGH 99.205 LOW 99.06 BID 99.095 ASK 99.099 CHANGE 0.1% TIME 08:16:43 OUTLOOK SUMMARY : Up TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : Low Upwards scenario: Medium term bias remains positive however further market rise is limited now to the key resistive barrier at 99.27 (R1), clearance here is required to enable next resistances at 99.60 (R2) and last one at 99.88 (R3). Downwards scenario: On the short-term perspective the pair might encounter supportive measures at 98.97 (S1). Loss here might change intraday technical structure and opens the way for a test of 98.57 (S2) and 98.15 (S3) later on today. Resistance Levels: 99.27, 99.60, 99.88 Support Levels: 98.97, 98.57, 98.15 Source: FX Central Clearing Ltd,( Best Forex Trader | Forex Broker Demo Account | Forex Software | FXCC )

Forex Technical & Market Analysis FXCC May 06 2013 EUR/USD still searching for direction after busy week of economic data After what was an extremely busy week of economic releases and central bank monetary policy meetings, the EUR/USD finished the week up 87 pips at 1.3116. The price action remains extremely choppy with neither side being able to sustain any follow through for a substantial amount of time. Many analysts are now wondering whether or not the “risk on” mentality which was boosted by the better than expected US Jobs data will have any follow through going into upcoming week and how will it influence the foreign exchange market. According to Kathy Lien of BK Asset Management, “Investors put on their rose colored glasses today and drove currencies and equities sharply higher on the back of stronger job growth in the month of April. At a time when other central banks like the ECB and BoJ are kick starting a new round of easing, the better than expected labor market report will keep the Fed comfortably on hold. The question now is whether the payroll driven rally in FX (and stocks) will last. With far less important data on the calendar next week, we think investors will remain optimistic.” http://blog.fxcc.com/forex-technical-market-analysis-may-06-2013/ FOREX ECONOMIC CALENDAR : 2013-05-06 13:00 GMT | EU.ECB President Draghi's Speech 2013-05-06 14:00 GMT | CA.Ivey Purchasing Managers Index (Apr) 2013-05-06 14:00 GMT | CA.Ivey Purchasing Managers Index s.a (Apr) 2013-05-06 23:30 GMT | AUD.AiG Performance of Construction Index (Apr) FOREX NEWS : 2013-05-06 04:09 GMT | EUR/USD still searching for direction after busy week of economic data 2013-05-06 03:18 GMT | GBP/JPY notches highest close since August 2009 2013-05-06 01:44 GMT | AUD/USD edges lower after weak Aussie retail sales number 2013-05-06 01:02 GMT | NZD/USD edges higher in early Asia trade ------------------ Forex Technical Analysis EURUSD : MARKET ANALYSIS – Intraday Analysis Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.3156 (R1). Clearance here is required to validate next interim target at 1.3185 (R2) and any further rise would then be targeting mark at 1.3219 (R3). Downwards scenario: On the other hand, instrument retests our next support level at 1.3117 (S1) today. Market decline below it would create a stronger bearish sentiment and enable our interim target at 1.3084 (S2). Final support for today locates at 1.3057 (S3). Resistance Levels: 1.3156, 1.3185, 1.3219 Support Levels: 1.3117, 1.3084, 1.3057 ---------------- Forex Technical Analysis GBPUSD : Upwards scenario: On the upside potential is seen for a break above the resistance at 1.5525 (R1). In such case we would suggest next target at 1.5546 (R2) and any further rise would then be limited to final resistance at 1.5571 (R3). Downwards scenario: Further correction development is limited now to 1.5481 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.5454 (S2) and 1.5426 (S3). Resistance Levels: 1.5525, 1.5546, 1.5571 Support Levels: 1.5481, 1.5454, 1.5426 ---------------- Forex Technical Analysis USDJPY : Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 92.02 (R1). Price extension above it is required to validate our next intraday targets at 98.16 (R2) and 98.30 (R3). Downwards scenario: Any downside extension is limited now to the next support level at 97.59 (S1). Break here is required to open a route towards to next target at 97.42 (S2) and then any further easing would be targeting final support at 97.27 (S3). Resistance Levels: 98.02, 98.16, 98.30 Support Levels: 97.59, 97.42, 97.27 Source: FX Central Clearing Ltd,( Learn Forex Training | ECN Forex Account | forex trader blog | FXCC )

Forex Technical & Market Analysis FXCC May 03 2013 Sustainability of Dollar Rally Hinges on Payrolls With the European Central Bank's monetary policy announcement behind us, the focus of the forex market will now turn to the non-farm payrolls report. The newly delivered stimulus from the ECB and the better than expected U.S. jobless claims report boosted the attractiveness of the U.S. dollar against all major currencies. Whether or not the sell-off in the EUR/USD and rally in USD/JPY can be sustained will hinge on Friday's non-farm payrolls report. This week's FOMC statement tell us that that Federal Reserve officials aren't overly concerned about the health of the labor market as they completely ignored last month's sharp drop in payrolls, choosing instead to repeat that the labor market is improving. They better be right or else the dollar and U.S. stocks for that matter will come crashing down. Currently economists are looking for payrolls to rise by 140K in April, up from 88K in March. The drop in jobless claims and consumer confidence supports a stronger release and we believe that as long as payrolls rise by 150K or more, the dollar will rally. By cutting interest rates today and signaling that they are prepared to do more, the ECB has set a low bar for tomorrow's NFP release. https://support.fxcc.com/email/technical/03052013/ FOREX ECONOMIC CALENDAR : 2013-05-03 12:30 GMT | USA.Nonfarm Payrolls (Apr) 2013-05-03 12:30 GMT | USA.Average Hourly Earnings (MoM)/(YoY) (Apr) 2013-05-03 12:30 GMT | USA.Unemployment Rate (Apr) 2013-05-03 14:00 GMT | CAD.Factory Orders (MoM) (Mar) FOREX NEWS : 2013-05-03 02:50 GMT | GBP/USD ends six day winning streak, fails again at 1.5600 resistance 2013-05-03 02:12 GMT | GBP/JPY closes higher but remains in consolidation on daily chart 2013-05-03 01:22 GMT | AUD/NZD pressing lower against 1.2050 level 2013-05-03 01:02 GMT | EUR/USD volatile day ends with sharply lower close ------------------------------ EURUSD : HIGH 1.30775 LOW 1.30555 BID 1.30710 ASK 1.30715 CHANGE 0.05% TIME 08 : 19:12 OUTLOOK SUMMARY : Down TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : High MARKET ANALYSIS - Intraday Analysis Upwards scenario: On the upside potential is seen for a break above the resistance at 1.3084 (R1). In such case we would suggest next target at 1.3120 (R2) and any further rise would then be limited to final resistance at 1.3156 (R3). Downwards scenario: Further correction development is limited now to the session low - 1.3057 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.3037 (S2) and 1.3016 (S3). Resistance Levels: 1.3084, 1.3120, 1.3156 Support Levels: 1.3057, 1.3037, 1.3016 ------------------------ GBPUSD : HIGH 1.55408 LOW 1.552 BID 1.55240 ASK 1.55248 CHANGE -0.06% TIME 08 : 19:13 OUTLOOK SUMMARY : Down TREND CONDITION : Downward penetration TRADERS SENTIMENT : Bearish IMPLIED VOLATILITY : High Upwards scenario: Possibility of market strengthening is seen above the resistance level at 1.5573 (R1). Clearance here is required to validate next interim target at 1.5598 (R2) and any further rise would then be targeting mark at 1.5629 (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 1.5522 (S1). Loss here would suggest next initial targets at 1.5489 (S2) and 1.5448 (S3). Resistance Levels: 1.5573, 1.5598, 1.5629 Support Levels: 1.5522, 1.5489, 1.5448 ------------------------- USDJPY : HIGH 98.052 LOW 97.881 BID 97.987 ASK 97.991 CHANGE 0.05% TIME 08 : 19:14 OUTLOOK SUMMARY : TREND CONDITION : Upward penetration TRADERS SENTIMENT : Bullish IMPLIED VOLATILITY : High Upwards scenario: Next actual resistance level is seen at 98.15 (R1). If the market manages to surge higher, our focus would returned to the next target at 98.51 (R2) and further recovery action could be exhausted at 98.85 (R3) intraday. Downwards scenario: Any downside extension is limited now to the next support level at 97.82 (S1). Break here is required to open a route towards to next target at 97.61 (S2) and then any further easing would be targeting final support at 97.42 (S3). Resistance Levels: 98.15, 98.51, 98.85 Support Levels: 97.82, 97.61, 97.42 Source: FX Central Clearing Ltd,( http://www.fxcc.com )