Daily Technical Analysis by FXCC

[alayoua]

Daily Forex Analysis from FXCC Dec 04 2012

Spain makes formal request for EU funds to recapitalize ailing banks

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

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

https://support.fxcc.com/email/technical/04122012/

UPCOMING EVENTS :

2012-12-04 10:00 GMT | European Monetary Union.Producer Price Index (YoY) (Oct)

2012-12-04 14:00 GMT | Canada.BoC Interest Rate Decision (Jan 4)

2012-12-04 14:00 GMT | Canada.BOC Rate Statement

2012-12-04 22:30 GMT | Australia.AiG Performance of Services Index (Nov)

FOREX NEWS :

2012-12-04 05:36 GMT | EUR/GBP in a 10 pip range for last 11 hours above 0.81

2012-12-04 03:20 GMT | EUR/JPY bulls looking for break above 107.65

2012-12-04 01:58 GMT | More EUR/USD gains yet to come - V.Bednarik

2012-12-04 01:10 GMT | USD/JPY double roof materializing at 78.6% Fibo

EURUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.3071, 1.3088, 1.3103

Support Levels: 1.3041, 1.3030, 1.3020

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GBPUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

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

Resistance Levels: 1.6115, 1.6138, 1.6161

Support Levels: 1.6072, 1.6059, 1.6049

USDJPY :

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

OUTLOOK SUMMARY : Down

TREND CONDITION : Down trend

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

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

Resistance Levels: 82.28, 82.46, 82.68

Support Levels: 82.06, 81.96, 81.88

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

[alayoua]

Daily Forex Analysis from FXCC Dec 05 2012

No breakthrough on banking union due to Franco-German dispute

A clash between France and Germany over banking supervision in the Eurozone prevented the Eurogroup from reaching an agreement on the EU banking union on Tuesday. EU finance ministers decided to hold an additional meeting on December 12, just ahead of the EU summit on December 13, by which time a deal on the banking union needs to be made. France and Germany are divided over the scope of ECB's powers as the Eurozone bank supervisor. France pushes for a solution in which the central bank would regulate all the financial institutions in the region, while Germany would like smaller banks to be excluded from this supervision. Berlin is also not too keen on seeing a full banking union formed that quickly, as it fears it will be obliged to pay for potential future banking losses in other Member States.

German finance minister Wolfgang Schäuble commented on France's proposition saying that there was no possibility for the central bank to supervise so many financial institutions, while his French counterpart Pierre Moscovici stated that the EU cannot introduce a system of dual supervision."We have no mandate for a dual system of supervision which would call into question the existence of a single system for some banks," the French finance minister argued. - FXstreet.com

https://support.fxcc.com/email/technical/05122012/

UPCOMING EVENTS :

2012-12-05 15:00 GMT | United States. ISM Non-Manufacturing PMI (Nov)

2012-12-05 20:00 GMT | New Zeeland. RBNZ Interest Rate Decision

2012-12-05 20:00 GMT | New Zeeland. Monetary Policy Statement

2012-12-05 20:00 GMT | New Zeeland. RBNZ Press Conference

FOREX NEWS :

2012-12-05 05:42 GMT | GBP/USD moves above 1.61, eyes 1.6130

2012-12-05 04:30 GMT | EUR/USD breaks above fresh 8-week highs

2012-12-05 03:00 GMT | EUR/JPY surges to 8-month highs on Nishimura statement

2012-12-05 04:55 GMT | AUD/USD bears defending 1.05

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EURUSD :

HIGH 1.31253 LOW 1.30906 BID 1.31074 ASK 1.31082 CHANGE 0.09% TIME 08:07:22

OUTLOOK SUMMARY : Up

TREND CONDITION : Upward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

Medium term bias is positive for the pair. Risk of market appreciation is seen above the next resistance level at 1.3116 (R1). Loss here would suggest next target at 1.3129 (R2) and any further rise would then be targeting 1.3142 (R3).

Resistance Levels: 1.3116, 1.3129, 1.3142

Support Levels: 1.3090, 1.3080, 1.3072

----------------------

GBPUSD :

HIGH 1.61185 LOW 1.60938 BID 1.61062 ASK 1.61072 CHANGE 0.06% TIME 08:07:23

OUTLOOK SUMMARY : Up

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : High

Market is forming the right shoulder of the Head and shoulders figure on the hourly chart currently, from our next resistance level at 1.6115 (R1). Above here retracement formation might expand its power towards to resistance levels at 1.6124 (R2) and 1.6138 (R3).

Resistance Levels: 1.6115, 1.6124, 1.6138

Support Levels: 1.6091, 1.6080, 1.6064

-----------------------------

USDJPY :

HIGH 82.338 LOW 81.796 BID 82.263 ASK 82.268 CHANGE 0.45% TIME 08:07:24

OUTLOOK SUMMARY : Sideway

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

Instrument moves sideways. In terms of technical levels next resistance level could be found at 82.29 (R1). Appreciation above it might enable next targets at 82.37 (R2) and 82.46 (R3) in potential.

Resistance Levels: 82.29, 82.37, 82.46

Support Levels: 82.16, 82.07, 81.94

Source: FX Central Clearing Ltd,( ECN Forex Trader | Forex Strategies | Forex Trading Software | FXCC )

[alayoua]

Daily Forex Analysis from FXCC Dec 06 2012

S&P downgrades Greece to selective default

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

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

https://support.fxcc.com/email/technical/06122012/

UPCOMING EVENTS :

2012-12-06 10:00 GMT | European Union. Gross Domestic Product s.a. (QoQ) (Q3)

2012-12-06 10:00 GMT | European Union. Gross Domestic Product s.a. (YoY) (Q3)

2012-12-06 12:00 GMT | UK. BoE Interest Rate Decision (Dec 6)

2012-12-06 12:45 GMT | ECB Interest Rate Decision

FOREX NEWS :

2012-12-06 06:01 GMT | GBP/USD below 1.61 ahead of BoE

2012-12-06 03:59 GMT | EUR/JPY in tight range below 108, ahead of ECB

2012-12-06 03:04 GMT | GBP/JPY pressing on fresh 8-month highs above 132.50

2012-12-06 00:40 GMT | AUD/USD on the rise after better than expected Aus jobs data

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EURUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.3085, 1.3104, 1.3126

Support Levels: 1.3045, 1.3027, 1.3008

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GBPUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Sideway

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

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

Resistance Levels: 1.6115, 1.6121, 1.6129

Support Levels: 1.6085, 1.6073, 1.6062

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USDJPY :

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

OUTLOOK SUMMARY : Sideway

TREND CONDITION : Sideway

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

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

Resistance Levels: 82.65, 82.77, 82.97

Support Levels: 82.04, 81.92, 81.81

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

[alayoua]

Daily Forex Analysis from FXCC Dec 07 2012

ECB, Berlusconi Hit EURUSD Hard

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

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

https://support.fxcc.com/email/technical/07122012/

UPCOMING EVENTS :

2012-12-07 10:00 GMT | EMU.ECB President Draghi's Speech

2012-12-07 13:30 GMT | Canada.Net Change in Employment (Nov)

2012-12-07 13:30 GMT | Canada.Unemployment Rate (Nov)

2012-12-07 13:30 GMT | USA.Nonfarm Payrolls (Nov)

FOREX NEWS :

2012-12-07 05:50 GMT | GBP/USD unchanged around 1.0650; UK, US data eyed

2012-12-07 02:58 GMT | EUR/JPY grinds back up to 107 after overnight drop

2012-12-07 06:06 GMT | Will NFP confirm EUR/USD weekly losses?

2012-12-07 00:38 GMT | AUD/USD, Australia trade number discourages volatility; stops above 1.0525

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EURUSD :

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

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.3048, 1.3070, 1.3092

Support Levels: 1.2950, 1.2942, 1.2931

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GBPUSD :

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

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : High

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

Resistance Levels: 1.6082, 1.6094, 1.6117

Support Levels: 1.6034, 1.6027, 1.6012

--------------------

USDJPY :

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

OUTLOOK SUMMARY : Sideway

TREND CONDITION : Neutral

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : High

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

Resistance Levels: 82.46, 82.55, 82.61

Support Levels: 82.29, 82.19, 82.12

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

[alayoua]

Daily Forex Analysis from FXCC Dec 10 2012

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

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

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

https://support.fxcc.com/email/technical/10122012/

UPCOMING EVENTS :

2012-12-10 13:15 GMT | Canada.Housing Starts s.a (YoY) (Nov)

2012-12-10 17:15 GMT | UK.BoE's Governor King Speech

2012-12-10 21:00 GMT | Australia.REINZ House Price Index (MoM) (Nov)

2012-12-10 21:45 GMT | Australia.Electronic Card Retail Sales (MoM)/(YoY) (Nov)

FOREX NEWS :

2012-12-10 05:33 GMT | GBP/USD outlook bearish below 1.6065 – V.Bednarik

2012-12-10 04:41 GMT | EUR/JPY offered toward 106.00; yen more bid

2012-12-10 03:49 GMT | EUR/USD bears beware ahead of Spanish bailout - UBS

2012-12-10 02:26 GMT | AUD/USD slips to 1.0465 on downbeat China trade numbers

----------------------------

EURUSD :

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

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : Low

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.2929, 1.2952, 1.2971

Support Levels: 1.2888, 1.2867, 1.2846

-----------------------

GBPUSD :

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

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Low

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

Resistance Levels: 1.6041, 1.6057, 1.6070

Support Levels: 1.6007, 1.5994, 1.5982

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USDJPY :

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

OUTLOOK SUMMARY : Sideway

TREND CONDITION : Sideway

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : Low

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

Resistance Levels: 82.57, 82.68, 82.77

Support Levels: 82.30, 82.20, 82.11

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

[alayoua]

Daily Forex Analysis from FXCC Dec 11 2012

Silvio Berlusconi Makes Trouble For EURUSD Bulls

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

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

https://support.fxcc.com/email/technical/11122012/

UPCOMING EVENTS :

2012-12-11 10:00 GMT | Germany.ZEW Survey - Economic Sentiment (Nov)

2012-12-11 13:30 GMT | USA.Trade Balance (Oct)

2012-12-11 23:30 GMT | Australia.Westpac Consumer Confidence (Dec)

2012-12-11 23:50 GMT | Japan.Machinery Orders (YoY) (Oct)

FOREX NEWS :

2012-12-11 04:59 GMT | AUD/USD strengthens on China data

2012-12-11 04:42 GMT | EUR/USD breaking to fresh session highs on better than expected China data

2012-12-11 03:55 GMT | GBP/JPY bears defending 132.50

2012-12-11 01:20 GMT | EUR/AUD on fresh session highs following bad Aussie confidence data

----------------------------

EURUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Low

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.2968, 1.2981, 1.2996

Support Levels: 1.2905, 1.2891, 1.2877

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GBPUSD :

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

OUTLOOK : SUMMARY

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Low

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

Resistance Levels: 1.6087, 1.6094, 1.6102

Support Levels: 1.6063, 1.6052, 1.6042

-----------------

USDJPY :

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

OUTLOOK SUMMARY : Sideway

TREND CONDITION : Sideway

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Low

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

Resistance Levels: 82.44, 82.50, 82.56

Support Levels: 82.28, 82.20, 82.14

Source: FX Central Clearing Ltd,( Forex Blog | Forex Market Hours | ECN Automated Forex Trading] | FXCC )

[alayoua]

Forex Technical Market Analysis December 12 2012

Greek banks tender rest of Greek debt holdings to help reach buyback target

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

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

http://blog.fxcc.com/forex-technical...ember-12-2012/

Forex Calendar

2012-12-12 09:30 GMT | UK.Claimant Count Change (Nov)

2012-12-12 17:30 GMT | USA.Fed Interest Rate Decision (Dec 12)

2012-12-12 19:00 GMT | USA.FOMC Economic Projections

2012-12-12 19:15 GMT | USA.Fed’s Monetary Policy Statement and press conference

Forex News

2012-12-12 05:48 GMT | GBP/USD tight in range ahead of UK, US events

2012-12-12 04:00 GMT | GBP/JPY just 30 pips below year 2012 highs

2012-12-12 02:27 GMT | AUD/USD stalls below 1.0540 awaiting RBA Stevens

2012-12-12 00:49 GMT | EUR/USD: tight ranges circa 1.3000 expected pre-Fed

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EURUSD

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

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: High

MARKET ANALYSIS – Intraday Analysis

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

Resistance Levels: 1.3014, 1.3028, 1.3042

Support Levels: 1.2984, 1.2971, 1.2958

--------------

GBPUSD

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

OUTLOOK SUMMARY: UP

TREND CONDITION: Sideway

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: High

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

Resistance Levels: 1.6130, 1.6144, 1.6158

Support Levels: 1.6089, 1.6071, 1.6054

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USDJPY

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Sideway

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: High

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

Resistance Levels: 82.70, 82.76, 82.82

Support Levels: 82.32, 82.26, 82.20

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

[alayoua]

Forex Technical & Market Analysis Dec 13 2012

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

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

http://blog.fxcc.com/forex-technical...ember-13-2012/

Forex Economic Calendar

2012-12-13 13:30 GMT | USA.Initial Jobless Claims (Dec 8)

2012-12-13 13:30 GMT | USA.Producer Price Index ex Food & Energy (YoY) (Nov)

2012-12-13 13:30 GMT | USA.Retail Sales (MoM) (Nov)

2012-12-13 15:00 GMT | USA.Business Inventories (Oct)

Forex News

2012-12-13 06:03 GMT | GBP/USD bounces from intraday lows; reproaching 1.6150

2012-12-13 04:58 GMT | EUR/USD again peters out ahead of 1.31

2012-12-13 01:36 GMT | USD/JPY at almost 9-month highs above 83.30

2012-12-13 00:32 GMT | USD/CHF steady around 0.9260 ahead of SNB

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EURUSD

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

MARKET ANALYSIS – Intraday Analysis

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

Resistance Levels: 1.3097, 1.3120, 1.3141

Support Levels: 1.3061, 1.3037, 1.3018

---------------------

GBPUSD

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

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

Resistance Levels: 1.6171, 1.6183, 1.6205

Support Levels: 1.6117, 1.6093, 1.6070

--------------------------

USDJPY

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

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

Resistance Levels: 83.82, 83.92, 84.08

Support Levels: 83.16, 83.00, 82.83

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

[alayoua]

Forex Technical & Market Analysis Dec 14 2012

Leaders debate EMU consolidation after bank supervision deal

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

As Reuters notes, "a German delegation source said that in the summit room, she opposed a joint resolution fund for banks at this stage and rejected any big "fiscal capacity" to help euro zone states cope with economic shocks or reward them for structural reforms. Instead, she said EU countries should concentrate on consolidating their own budgets, according to notes of the meeting and an account provided by one participant." Merkel, once out of the official meeting, told reporters that the bank union deal was a 'very important' decision taken by the EZ leaders, and that such agreement paves the way for future positive developments of a currency union. On the transaction tax, she suspects a solidarity fund for Euro zone states with limits 10 to 20 billion Euros. - https://support.fxcc.com/email/technical/14122012/

Forex Economic Calendar :

2012-12-14 10:00 GMT | EU.Consumer Price Index - Core (YoY) (Nov)

2012-12-14 10:00 GMT | EU.Consumer Price Index (YoY) (Nov)

2012-12-14 13:30 GMT | USA.Consumer Price Index (YoY) (Nov)

2012-12-14 13:30 GMT | USA.Consumer Price Index Ex Food & Energy (YoY) (Nov)

Forex News :

2012-12-14 05:51 GMT | GBP/USD rallies above 1.6120 resistance; scope for 50-pip run?

2012-12-14 04:50 GMT | AUD/JPY hits 9-month highs; eyes resistance at 88.60

2012-12-14 03:29 GMT | USD/JPY just spiked a bit; approaching 84.00

2012-12-14 00:53 GMT | EUR/USD still below 1.31; outlook remains bullish – V.Bednarik

-----------------

EURUSD :

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

OUTLOOK : SUMMARY

TREND CONDITION : Upward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.3126, 1.3139, 1.3155

Support Levels: 1.3081, 1.3069, 1.3056

------------------

GBPUSD :

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

OUTLOOK : SUMMARY

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : High

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

Resistance Levels: 1.6152, 1.6163, 1.6176

Support Levels: 1.6101, 1.6083, 1.6067

-------------------

USDJPY

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

OUTLOOK : SUMMARY

TREND CONDITION : Upward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : High

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

Resistance Levels: 83.97, 84.10, 84.22

Support Levels: 83.62, 83.51, 83.41

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

Edited December 14, 2012 by alayoua

[alayoua]

Forex Technical & Market Analysis FXCC Dec 17 2012

U.S. Fiscal Cliff: Republican leadership softens stance on tax rates

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

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

http://blog.fxcc.com/forex-technical-market-analysis-december-17-2012/

Forex Economic Calendar

2012-12-17 09:00 GMT | European Monetary Union. Labour cost (Q3)

2012-12-17 14:00 GMT | United States. Net Long-Term TIC Flows (Oct)

2012-12-17 18:00 GMT | United States. Fed’s Lacker speech

2012-12-17 23:00 GMT | Australia. Conference Board Australia Leading Index (Oct)

Forex News

2012-12-17 05:18 GMT | GBP/USD limited below 1.6200

2012-12-17 05:15 GMT | EUR/USD stalled below 1.3190; Draghi eyed

2012-12-17 04:12 GMT | EUR/JPY stalls above 111.00 on taking profits

2012-12-17 03:01 GMT | AUD/JPY retracing from 20-month highs above 89.00

TECHNICAL ANALYSIS

----------------------

EURUSD

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Low

MARKET ANALYSIS – Intraday Analysis

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

Resistance Levels: 1.3190, 1.3210, 1.3230

Support Levels: 1.3139, 1.3120, 1.3100

--------------------

GBPUSD

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Low

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

Resistance Levels: 1.6199, 1.6214, 1.6229

Support Levels: 1.6157, 1.6143, 1.6128

--------------------------

USDJPY

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Low

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

Resistance Levels: 83.34, 84.53, 84.72

Support Levels: 83.77, 83.61, 83.45

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

[alayoua]

Forex Technical & Market Analysis FXCC Dec 18 2012

Fiscal Cliff Talks Thaw

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

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

http://blog.fxcc.com/forex-technical...ember-18-2012/

Forex Economic Calendar

N/A | United Kingdom. BOE Inflation Letter

2012-12-18 09:30 GMT | United Kingdom. Consumer Price Index (YoY) (Nov)

2012-12-18 11:00 GMT | United Kingdom. BoE Quarterly Bulletin (Q4)

2012-12-18 23:50 GMT | Japan. Merchandise Trade Balance Total (Nov)

Forex News

2012-12-18 05:15 GMT | GBP/JPY range bound circa 136.00; overextended?

2012-12-18 03:51 GMT | AUD/USD retreats from RBA-induced highs

2012-12-18 02:25 GMT | EUR/AUD capped below 1.25 inside a 30 pip range

2012-12-18 01:57 GMT | USD/JPY outlook bullish on more BoJ easing anticipation – RBS

AUDUSD NZDUSD USDCHF USDCAD GBPJPY EURCHF GOLD SILVER

1.05501/510 0.84333/341 0.91764/780 0.98351/361 136.134/151 1.20860/879 1702.75/.03 32.42/.44

TECHNICAL ANALYSIS

-------------------------

EURUSD

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Sideway

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

MARKET ANALYSIS – Intraday Analysis

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

Resistance Levels: 1.3179, 1.3198, 1.3218

Support Levels: 1.3151, 1.3131, 1.3111

--------------------------------------

GBPUSD

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

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

Resistance Levels: 1.6222, 1.6235, 1.6249

Support Levels: 1.6195, 1.6181, 1.6167

----------------------------

USDJPY

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

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

Resistance Levels: 84.09, 84.24, 84.39

Support Levels: 83.85, 83.71, 83.56

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

[alayoua]

Forex Technical & Market Analysis FXCC Dec 19 2012

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

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

From today's S&P statement: “The stable outlook balances our view of euro zone member states determination to support Greece’s euro zone membership and the Greek government’s commitment to a fiscal and structural adjustment against the economic and political challenges of doing so,” the agency said. “Even after the buyback, Greece’s end-2012 net debt-to-GDP ratio of over 160 percent of GDP remains onerous,” the credit rating company stated. “Nevertheless, subject to Greece meeting program conditions, euro zone member states have said they would significantly improve official lending terms to the government.”- https://support.fxcc.com/email/technical/19122012/

Forex Economic Calendar

2012-12-19 09:00 GMT | E.M.U. IFO - Business Climate (Dec)

2012-12-19 09:30 GMT | United Kingdom. Bank of England Minutes

2012-12-19 13:30 GMT | United States. Building Permits (MoM) (Nov)

2012-12-19 21:45 GMT | Australia. Gross Domestic Product (QoQ) (Q3)

Forex News

2012-12-19 05:17 GMT | GBP/USD quiet below 1.6270, awaiting BoE Minutes

2012-12-19 04:31 GMT | EUR/AUD holds bullish scope to 1.2900 - Westpac

2012-12-19 03:35 GMT | EUR/USD set to target 50% Fibo - RBS

2012-12-19 02:01 GMT | NZD/USD breaking below 0.84 round

----------------------------

EURUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Medium

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.3258, 1.3277, 1.3293

Support Levels: 1.3224, 1.3207, 1.3191

---------------------

GBPUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Medium

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

Resistance Levels: 1.6270, 1.6283, 1.6296

Support Levels: 1.6244, 1.6231, 1.6218

--------------------------

USDJPY :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Upward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : Medium

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

Resistance Levels: 84.44, 84.55, 84.66

Support Levels: 84.21, 84.10, 83.98

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

[alayoua]

Forex Technical & Market Analysis FXCC Dec 20 2012

All Eyes On Bank of Japan Following Abe Win

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

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

http://blog.fxcc.com/forex-technical-market-analysis-december-20-2012/

Forex Economic Calendar

2012-12-20 09:30 GMT | United Kingdom. Core Consumer Price Index (YoY) (Nov)

2012-12-20 09:30 GMT | United Kingdom. Consumer Price Index (YoY) (Nov)

2012-12-20 11:00 GMT | United Kingdom. BoE Quarterly Bulletin (Q4)

2012-12-20 23:50 GMT | Japan. Merchandise Trade Balance Total (Nov)

Forex News

2012-12-20 06:07 GMT | Will EUR/USD buyers had enough at 1.33 highs?

2012-12-20 05:29 GMT | GBP/USD set for reversal after daily pin?

2012-12-20 04:23 GMT | USD/JPY shakes both sides post-BoJ; holds above 84.00

2012-12-20 03:30 GMT | EUR/GBP undecided below 0.8150

TECHNICAL ANALYSIS

---------------------

EURUSD

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

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

MARKET ANALYSIS – Intraday Analysis

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

Resistance Levels: 1.3231, 1.3252, 1.3274

Support Levels: 1.3188, 1.3166, 1.3144

-------------------

GBPUSD

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

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

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

Resistance Levels: 1.6263, 1.6276, 1.6289

Support Levels: 1.6238, 1.6225, 1.6211

------------------

USDJPY

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

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

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

Resistance Levels: 84.23, 84.34, 84.47

Support Levels: 83.84, 83.72, 83.59

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

[alayoua]

Forex Technical & Market Analysis FXCC Dec 21 2012

Boehner’s ‘Plan B’ dead on arrival

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

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

https://support.fxcc.com/email/technical/21122012/

Forex Economic Calendar

2012-12-21 09:30 GMT | United Kingdom. Gross Domestic Product (YoY) (Q3)

2012-12-21 13:30 GMT | Canada. Gross Domestic Product (YoY) (Oct)

2012-12-21 13:30 GMT | United States. Durable Goods Orders (Nov)

2012-12-21 14:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index (Dec)

Forex News

2012-12-21 05:40 GMT | GBP/USD support at 1.6230 next level to watch – V.Bednarik

2012-12-21 03:32 GMT | EUR/JPY stalls the decline at fresh session lows 111.62

2012-12-21 03:21 GMT | USD/JPY threatening to break below 83.80

2012-12-21 01:45 GMT | AUD/USD breaks below 1.0450 to fresh weekly lows

----------------------------------

EURUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Medium

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.3227, 1.3247, 1.3267

Support Levels: 1.3180, 1.3160, 1.3141

---------------------

GBPUSD :

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

OUTLOOK SUMMARY : Up

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : Medium

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

Resistance Levels: 1.6265, 1.6279, 1.6292

Support Levels: 1.6240, 1.6226, 1.6214

------------------------------

USDJPY :

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

OUTLOOK SUMMARY : Neutral

TREND CONDITION : Sideway

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Medium

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

Resistance Levels: 84.23, 84.35, 84.47

Support Levels: 83.83, 83.72, 83.59

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

[alayoua]

Forex Technical & Market Analysis FXCC Dec 24 2012

Boehner’s ‘Plan B’ bill vote canceled

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

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

http://blog.fxcc.com/forex-technical...ember-24-2012/

Forex Economic Calendar

2012-12-24 02:00 GMT | New Zealand.M3 Money Supply (YoY) (Nov)

2012-12-24 11:00 GMT | Ireland. Retail Sales (MoM) (Nov)

2012-12-24 11:00 GMT | Ireland.Retail Sales (YoY) (Nov)

2012-12-24 23:50 GMT | Japan.Corporate Service Price (YoY) (Nov)

Forex News

2012-12-24 03:09 GMT | EUR/USD quiet below 1.32

2012-12-24 02:31 GMT | AUD/JPY below 88 +11% YTD

2012-12-24 02:00 GMT | USD/JPY looking for upside break of 84.60

2012-12-24 00:45 GMT | AUD/USD below 1.04 ahead of Christmas Eve

TECHNICAL ANALYSIS

----------------------------

EURUSD

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

OUTLOOK SUMMARY: Downward penetration

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Low

MARKET ANALYSIS – Intraday Analysis

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

Resistance Levels: 1.3208, 1.3233, 1.3255

Support Levels: 1.3149, 1.3122, 1.3097

-------------------------------

GBPUSD

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Low

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

Resistance Levels: 1.6194, 1.6215, 1.6235

Support Levels: 1.6148, 1.6129, 1.6109

-------------------------

USDJPY

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

OUTLOOK SUMMARY: Up

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Low

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

Resistance Levels: 84.45, 84.57, 84.69

Support Levels: 84.10, 84.00, 83.88

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

[alayoua]

Forex Technical & Market Analysis FXCC Dec 26 2012

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

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

The rate cut would be bearish for the Euro in the short term, but at least support the chance for growth in the wider EU region as periphery economies are expected to contribute handsomely to the decline in overall expansion.

http://blog.fxcc.com/forex-technical-market-analysis-december-26-2012/

Forex Economic Calendar

2012-12-26 13:55 GMT | USA.Redbook index (YoY)

2012-12-26 13:55 GMT | USA.Redbook index (MoM)

2012-12-26 14:00 GMT | USA.S&P/Case-Shiller Home Price Indices (YoY) (Oct)

2012-12-26 15:00 GMT | USA.Richmond Fed Manufacturing Index (Dec)

Forex News

2012-12-24 19:27 GMT | EUR/USD ends the day unchanged

2012-12-24 18:12 GMT | GBP/USD to end the year around 1.63 - Rabobank

2012-12-24 15:21 GMT | EUR/JPY hits 112.00 as investors price in comments from Japan

2012-12-24 15:06 GMT | AUD/USD trading near calculated support at 1.0385/87

-------------------

EURUSD :

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

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Low

MARKET ANALYSIS - Intraday Analysis

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

Resistance Levels: 1.3217, 1.3231, 1.3246

Support Levels: 1.3162, 1.3148, 1.3134

------------------------

GBPUSD :

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

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : Low

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

Resistance Levels: 1.6149, 1.6165, 1.6177

Support Levels: 1.6109, 1.6097, 1.6084

-------------------

USDJPY :

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

OUTLOOK SUMMARY: Up

TREND CONDITION : Upward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : Low

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

Resistance Levels: 84.89, 85.15, 85.36

Support Levels: 84.61, 84.45, 84.33

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

[alayoua]

Forex Technical & Market Analysis FXCC Dec 28 2012

Fiscal cliff looms as US lawmakers play game of brinkmanship

The "fiscal cliff" steadfastly approaches and it is a fair assumption that no one will come up with a deal in time to stop the country from careening off the edge. Nearly everyone involved claims they want to avoid the automatic tax increases and colossal budget cuts that will start kicking in at the start of 2013, however few are ready to make the compromises necessary to make that happen.

As expected, anti-tax purists in the House Republican Caucus have gotten in the way of Speaker John A. Boehners attempts to come up with a fix for the fiscal cliff. Last week, he withdrew his doomed Plan B rather than let it go to a vote he knew he would lose. Democrats were united in their opposition, though what ultimately killed the scheme was the refusal of conservatives in Boehner’s own caucus to go along with a tax increase for millionaires. Boehner now seems to have washed his hands of responsibility and says it is up to the president and Democrats in the Senate to save the country from the New Year’s program cuts and tax increases that will come so fast and furiously that the economy could suffer. President Obama cut short his Hawaii vacation to return to the snow-covered capital hoping to concoct a last-minute deal in the eleventh hour. -FXstreet.com

https://support.fxcc.com/email/technical/28122012/

Forex Economic Calendar

2012-12-28 **:00 GMT | Italy. 10-y Bond Auction

2012-12-28 07:45 GMT | France. Gross Domestic Product (YoY) (Q3)

2012-12-28 15:00 GMT | United States. Pending Home Sales (YoY) (Nov)

2012-12-28 16:00 GMT | United States. EIA Crude Oil Stocks change (Dec 21)

Forex News

2012-12-28 04:21 GMT EUR/JPY stalling below 114.70 around fresh 16-month highs

2012-12-28 02:12 GMT EUR/USD below 1.3250 waiting for a 'fiscal cliff' outcome, what else?

2012-12-28 00:56 GMT USD/JPY shooting up above 86.50 on extreme overbought readings

2012-12-27 20:12 GMT USD/CAD reaches 1-month high

--------------------

EURUSD :

HIGH 1.32527 LOW 1.32295 BID 1.32420 ASK 1.32426 CHANGE 0.06% TIME 07:51:55

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Low

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Price action looks mainly consolidative, though violation of our resistance at 1.3253 (R1) would be a signal of possible uptrend formation with next targets ahead at 1.3264 (R2) and 1.3276 (R3). Downwards scenario: Depreciation below the support at 1.3227 (S1) might trigger correction formation towards to next targets at 1.3215 (S2) and 1.3203 (S3)

Resistance Levels: 1.3253, 1.3264, 1.3276

Support Levels: 1.3227, 1.3215, 1.3203

---------------------

GBPUSD :

HIGH 1.61211 LOW 1.60981 BID 1.61189 ASK 1.61199 CHANGE 0.13% TIME 07:51:56

OUTLOOK SUMMARY : Neutral

TREND CONDITION : Sideway

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Low

Upwards scenario: Market sentiment looks neutral and upside movement is limited to resistance level at 1.6127 (R1). Surpassing of this level might enable next target at 1.6139 (R2) and any further gain would then be limited to last resistance at 1.6152 (R3). Downwards scenario: A break below the support at 1.6102 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.6090 (S2) and 1.6078 (S3).

Resistance Levels: 1.6127, 1.6139, 1.6152

Support Levels: 1.6102, 1.6090, 1.6078

---------------------

USDJPY :

HIGH 86.629 LOW 86.066 BID 86.450 ASK 86.458 CHANGE 0.41% TIME 07:51:57

OUTLOOK SUMMARY : Up

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Low

Upwards scenario: USDJPY might find buyers above the important resistance level at 86.63 (R1). Break here would open route towards to our next targets at 86.80 (R2) and 86.63 (R3). Downwards scenario: While instrument trades below the next resistance level, our intraday bias forecast would be negative. Penetration below the support level at 86.14 (S1) might open way towards to lower targets at 85.95 (S2) and 85.75 (S3).

Resistance Levels: 86.63, 86.80, 86.98

Support Levels: 86.14, 85.95, 85.75

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

[alayoua]

Forex Technical & Market Analysis FXCC Dec 31 2012

Time running short for ‘fiscal cliff’ deal

Well, it looks like negotiations on Capitol Hill are still ongoing and far apart to avoid January’s “fiscal cliff”, as the House and Senate are to reconvene later today, the final day for Congress to craft a resolution prior to the deadline. In a Sunday talk show, President Obama stated clearly that it appears the GOP’s top priority is to protect the tax rates for the wealthy, while his top priority is to ensure that taxes on the middle-class do not go up. Although the President says he remains optimistic, he also acknowledges that financial markets would be unfavorably impacted if the US economy stumbles off of the cliff.

As Kathy Lien, Managing Director at BK Asset Management explains in a research note: “If it becomes evident that a deal will be deferred to January, expect currencies and equities to sell-off in disappointment. With some major currencies pulling back and equities declining, we have already seen investors take profit and hedge their positions ahead of the Fiscal Cliff deadline. If Obama announces a stripped down plan and expresses confidence that a deal will be sealed by end of day Monday, we can expect currencies and equities to rally in relief.”

http://blog.fxcc.com/forex-technical...ember-31-2012/

Forex Economic Calendar

2012-12-31 10:00 GMT | Greece.Retail Sales (YoY) (Oct)

2012-12-31 11:30 GMT | India.Current Account Balance $ (Q3)

2012-12-31 12:00 GMT | South Africa.Trade Balance (in Rands) (Nov)

2012-12-31 15:30 GMT | USA.Dallas Fed Manufacturing Business Index (Dec)

Forex News

2012-12-31 05:53 GMT | EUR/USD ending 2012 +2% higher after all

2012-12-31 05:03 GMT | Time running short for ‘fiscal cliff’ deal

2012-12-31 03:26 GMT | USD/JPY capped at 86 round with Tokyo closed

2012-12-31 02:17 GMT | AUD/JPY finishing 2012 above 89.00

TECHNICAL ANALYSIS

-----------------

EURUSD

HIGH: 1.32345 | LOW: 1.31879 | BID: 1.31993 | ASK: 1.32000 | CHANGE: -0.13% | TIME: 08 : 02:34

OUTLOOK SUMMARY: Down

TREND CONDITION: Sideway

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Low

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.3215 (R1). Immediate focus comes on 1.3233 (R2) and 1.3250 (R3) in such scenario. Downwards scenario: Price setup is looking for a pullback development. Downside fluctuations remains for now limited to next support level at 1.3187 (S1), only clear break here would be a signal of market easing with next targets at 1.3165 (S2) and 1.3143 (S3).

Resistance Levels: 1.3215, 1.3233, 1.3250

Support Levels: 1.3187, 1.3165, 1.3143

----------------------------

GBPUSD

HIGH: 1.61731 | LOW: 1.61507 | BID: 1.61551 | ASK: 1.61561 | CHANGE: -0.06% | TIME: 08 : 02:35

OUTLOOK SUMMARY: Down

TREND CONDITION: Down trend

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Low

Upwards scenario: The pair might face key resistive bastion at 1.6169 (R1). A break above it might activate upside pressure and suggest the short-term targets at 1.6177 (R2) and 1.6186 (R3). Downwards scenario: Break below the support at 1.6152 (S1), would signal an end of retracement phase and open way for downtrend formation on the medium-term perspective. Possible targets could be found at 1.6144 (S2) and 1.6136 (S3).

Resistance Levels: 1.6169, 1.6177, 1.6186

Support Levels: 1.6152, 1.6144, 1.6136

----------------------

USDJPY

HIGH: 86.173 | LOW: 85.696 | BID: 86.144 | ASK: 86.152 | CHANGE: 0.2% | TIME: 08 : 02:36

OUTLOOK SUMMARY: Downward penetration

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Low

Upwards scenario: The pair might keep general upside move intact after some stabilization ahead. Appreciation above the next resistance at 86.24 (R1) would enable next targets at 86.38 (R2) and 86.55 (R3) in potential. Downwards scenario: Bearish penetration below the support at 85.90 (S1) might determine negative sentiment for the remaining of the day with possible targets in focus at 85.77 (S2) and 85.64 (S3) intraday.

Resistance Levels: 86.24, 86.38, 86.55

Support Levels: 85.90, 85.77, 85.64

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

[alayoua]

Forex Technical & Market Analysis FXCC Jan 02 2013

US House passes fiscal cliff bill

After weeks of talks and negotiations, the House of Representatives has finally passed the fiscal cliff bill, with the ‘yea’ votes obtained surpassing the 217 threshold needed to approve the fiscal deal. The final vote count stood at 257-167 in favour of the bill. President Obama is ready to sign it into law.

The compromise, which first was agreed by Senate in early Tuesday morning, has come not without some last minute agitated negotiation disputes, in which Republicans wanted to challenge the approved senate-bill by sending it back for revision demanding additional spending cuts, with reports initially suggesting that the House Republicans would be adjourning any decision until Wednesday. Pending the signature of President Obama, expected to be done shortly, the US officially avoids that millions of citizens suffer tax hikes and spending reductions, which would have brought the U.S. economy into recession according to economists’ projections. Worth not forgetting though, is that still plentiful of unresolved pressing issues remain, with the most immediate being the need to raise the federal borrowing limit, with the deadline over 2 month from now.

http://blog.fxcc.com/forex-technical-market-analysis-january-01-2013/

Forex Economic Calendar

2013-01-02 08:58 GMT | E.M.U. Markit Manufacturing PMI (Dec)

2013-01-02 09:28 GMT | United Kingdom. Markit Manufacturing PMI (Dec)

2013-01-02 13:00 GMT | Germany. Consumer Price Index (YoY) (Dec)

2013-01-02 15:00 GMT | United States. ISM Manufacturing PMI (Dec)

Forex News

2013-01-02 05:57 GMT | EUR/GBP holding upside bias above 0.8100

2013-01-02 04:52 GMT | USD/JPY above 87, most extreme overbought level since 2001

2013-01-02 03:50 GMT | USD/CAD drops below 0.99 on ‘cliff’ hopes

2013-01-02 03:00 GMT | GBP/USD breaks 1.63 ahead of House vote

TECHNICAL ANALYSIS

-----------------------

EURUSD

HIGH: 1.32993 | LOW: 1.31873 | BID: 1.32729 | ASK: 1.32737 | CHANGE: 0.58% | TIME: 08 : 01:28

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Instrument might find buyers above the resistance at 1.3276 and moves to the next targets at 1.3285 and 1.3295 in case of sufficient momentum. Downwards scenario: Consolidation development might keep bears in play for eventual targets at 1.3243 and 1.3233 if the market participants mange to push through our next support level at 1.3252.

Resistance Levels: 1.3276, 1.3285, 1.3295

Support Levels: 1.3252, 1.3243, 1.3233

----------------------------

GBPUSD

HIGH: 1.63804 | LOW: 1.62277 | BID: 1.63200 | ASK: 1.63215 | CHANGE: 0.43% | TIME: 08 : 01:29

OUTLOOK SUMMARY: Up

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

Upwards scenario: The next hurdle on the upside lies at 1.6381, any uptrend action above it would put in focus resistance barrier at 1.6402 as the near-term target. Next on tap final resistance at 1.6422. Downwards scenario: Today portion of the economic data releases might have significant effect on the price action, the 1.6292 mark is key support level in near-term perspective. Below here opens way towards to expected targets at 1.6270 and 1.6248.

Resistance Levels: 1.6381, 1.6402, 1.6422

Support Levels: 1.6292, 1.6270, 1.6248

------------------------

USDJPY

HIGH: 87.294 | LOW: 86.538 | BID: 87.211 | ASK: 87.222 | CHANGE: 0.68% | TIME: 08 : 01:30

OUTLOOK SUMMARY: Up

TREND CONDITIONP: Up trend

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

Upwards scenario: Next actual resistance level is seen at 87.29. If the market manages to surge higher, focus might returned to the target at 87.45 and further uptrend formation could be exhausted at 87.61 intraday. Downwards scenario: Market gains momentum during the Asian session and consolidation formation looks reasonable. Next supportive measure is seen at 86.90. Break through here might offer bearish signal and expose intraday targets at 86.73 and 86.55.

Resistance Levels: 87.29, 87.45, 87.61

Support Levels: 86.90, 86.73, 86.55

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

[alayoua]

Forex Technical & Market Analysis FXCC Jan 03 2013

Congress Passes Fiscal Cliff Deal – The Breakdown

In a final hour maneuver, Congressional leaders brokered a deal that will allow the US economy to avert the Fiscal Cliff and alleviate pressure on the financial markets. The passage is being considered by some to be a victory for US President Barack Obama. But, by others, it shifts the focus to mid February when discussions are likely to begin over the impending debt ceiling.

With the bill set to be signed into law by US President Barack Obama, focus has now shifted to the impending debt ceiling debate – likely to begin in mid-February. The concern remains over the fact that Democratic leaders will need to make further concessions on spending to Republicans in order to allow an extension of the $16.4 trillion ceiling. An inability to do so would plunge the government into a plausible shutdown. This will likely include cutbacks in entitlement spending and other programs in order to equalize Republican concessions for the Fiscal Cliff deal.

http://blog.fxcc.com/forex-technical-market-analysis-january-03-2013/

Forex Economic Calendar

2013-01-03 08:55 GMT | Germany. Unemployment Change (Dec)

2013-01-03 09:30 GMT | United Kingdom. PMI Construction (Dec)

2013-01-03 13:30 GMT | United States. Initial Jobless Claims (Dec 29)

2013-01-03 19:00 GMT | United States. FOMC Minutes

Forex News

2013-01-03 05:39 GMT | EUR/GBP struggling to maintain above 0.8100

2013-01-03 05:23 GMT | GBP/USD holding above 1.6200 as Europe approaches

2013-01-03 03:18 GMT | EUR/USD loses 1.3150; stalls at 21-DMA

2013-01-03 03:12 GMT | GBP/AUD finding support at 200 day SMA 1.5450

TECHNICAL ANALYSIS

------------------------

EURUSD

HIGH: 1.31903 | LOW: 1.31238 | BID: 1.31371 | ASK: 1.31377 | CHANGE: -0.36% | TIME: 07 : 48:13

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: High

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Hourly chart correction is possible above the next resistance level at 1.3170 (R1). Next initial targets locate at 1.3189 (R2) and 1.3208 (R3). Downwards scenario: There’s a negative bias that pressures our next support level at 1.3121 (S1). Loss here might enable further market downgrade towards to expected targets at 1.3104 (S2) and 1.3086 (S3).

Resistance Levels: 1.3170, 1.3189, 1.3208

Support Levels: 1.3121, 1.3104, 1.3086

--------------------------------

GBPUSD

HIGH: 1.62551 | LOW: 1.62014 | BID: 1.62219 | ASK: 1.62231 | CHANGE: -0.19% | TIME: 07 : 48:14

OUTLOOK SUMMAR: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: High

Upwards scenario: Our next resistance level is placed at 1.6258 (R1). Progress above it might enable next step of uptrend development and expose our targets at 1.6277 (R2) and 1.6295 (R3). Downwards scenario: Retracement development is limited to the next support level at 1.6201 (S1). Clearance here might change trader’s sentiment to bearish and open road towards to next targets, located at 1.6183 (S2) and 1.6164 (S3).

Resistance Levels: 1.6258, 1.6277, 1.6295

Support Levels: 1.6201, 1.6183, 1.6164

----------------------

USDJPY

HIGH: 87.356 | LOW: 87.092 | BID: 87.264 | ASK: 87.269 | CHANGE: -0.08% | TIME: 07 : 48:15

OUTLOOK SUMMARY: Up

TREND CONDITION: Up trend

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

Upwards scenario: Market remains bullish oriented and next hurdle lies above the local high at 87.39 (R1).If the break occurs above it, next attractive level could be found 87.59 (R2) and any further rise would then be limited to 87.80 (R3). Downwards scenario: After the appreciation, provided yesterday price is stabilized and correction forces are possible below the support level at 86.96 (S1). Clearance here would suggest next target at 86.75 (S2). If the price holds its momentum on the downside we suggest final target for today at 86.55 (S3).

Resistance Levels: 87.39, 87.59, 87.80

Support Levels: 86.96, 86.75, 86.55

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

[alayoua]

Forex Technical & Market Analysis FXCC Jan 04 2013

Two largest rating agencies consider US fiscal cliff deal insufficient

Moody's and Standard and Poor's credit rating agencies urged US lawmakers on Thursday to increase their efforts to tackle the country's budget deficit, as they consider the last-minute fiscal cliff measures insufficient. The deal which was struck on Tuesday between Democrats and Republicans, with the aim to avoid automatic year-end tax increases and spending cuts, improves the current situation but does not lay foundations for lowering debt ratios in the medium term, Moody's rating agency told Reuters. Moody's senior credit officer Steven Hess said that the agency would wait for the outcome of the measures adopted by the US government before making decisions on the rating outlook or the rating itself.

Pending the signature of President Obama, expected to be done shortly, the US officially avoids that millions of citizens suffer tax hikes and spending reductions, which would have brought the U.S. economy into recession according to economists' projections. Worth not forgetting though, is that still plentiful of unresolved pressing issues remain, with the most immediate being the need to raise the federal borrowing limit, with the deadline over 2 month from now.-FXstreet.com

https://support.fxcc.com/email/technical/04012013/

Forex Economic Calendar

2013-01-04 09:30 GMT | United Kingdom. Markit Services PMI (Dec)

2013-01-04 10:00 GMT | E.M.U. Consumer Price Index (YoY) (Dec)

2013-01-04 13:30 GMT | United States. Nonfarm Payrolls (Dec)

2013-01-04 15:00 GMT | United States. ISM Non-Manufacturing PMI (Dec)

Forex News

2013-01-04 04:57 GMT | USD/JPY maximum pain to shorts above 87.50

2013-01-04 04:25 GMT | Constructive on EUR/USD towards 1.35 - Westpac

2013-01-04 03:53 GMT | NZD/USD finds support at 0.8220

2013-01-04 02:40 GMT | GBP/JPY stalls an 8 week run up below 141.00

TECHNICAL ANALYSIS

---------------------------------

EURUSD

HIGH 1.30532 LOW 1.30191 BID 1.30426 ASK 1.30432 CHANGE -0.05% TIME 07:59:49

OUTLOOK SUMMARY : Down

TREND CONDITION : Down trend

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: While EURUSD trades above the next support level, possibility of correction arises if market manages to break our resistance at 1.3082 (R1). In this case we would suggest next targets at 1.3111 (R2) and 1.3140 (R3) in potential. Downwards scenario: Medium term bias is clearly negative. If the market gains momentum and break below the next support at 1.3018 (S1), we suggest next targets to be placed at 1.2989 (S2) and 1.2961 (S3).

Resistance Levels: 1.3082, 1.3111, 1.3140

Support Levels: 1.3018, 1.2989, 1.2961

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GBPUSD :

HIGH 1.61076 LOW 1.60569 BID 1.60780 ASK 1.60792 CHANGE -0.19% TIME 07:59:50

OUTLOOK SUMMARY Down

TREND CONDITION Down trend

TRADERS SENTIMENT Bullish

IMPLIED VOLATILITY High

Upwards scenario: The upside movement looks protected by the next resistance level at 1.6113 (R1), located at the 20 SMA. Rise above it might change market sentiment to bullish on the short term perspective and expose intraday targets at 1.6142 (R2) and 1.6170 (R3).Downwards scenario: Our next support level, located at 1.6056 (S1) is the key point for the further downtrend development. Break here is required to put in focus lower targets at 1.6026 (S2) and 1.5995 (S3) in perspective.

Resistance Levels: 1.6113, 1.6142, 1.6170

Support Levels: 1.6056, 1.6026, 1.5995

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USDJPY :

HIGH 87.831 LOW 87.239 BID 87.753 ASK 87.757 CHANGE 0.6% TIME 07:59:51

OUTLOOK SUMMARY : Up

TREND CONDITION : Up trend

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : High

Upwards scenario: USDJPY gained momentum, turning intraday bias to the positive side. Our next resistance level for today is hold at 87.85 (R1). Rise above it might open route towards to next targets at 88.16 (R2) and 88.47 (R3). Downwards scenario: On the downside our reference point locates at 87.52 (S1), decrease below it might enable bearish pressure, targeting 87.23 (S2) and any further fall would then be limited by last support level at 86.94 (S3).

Resistance Levels: 87.85, 88.16, 88.47

Support Levels: 87.52, 87.23, 86.94

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

[alayoua]

Forex Technical & Market Analysis FXCC Jan 07 2013

ECB, BOE in Prime Focus this Week

With the Fiscal Cliff behind us and the impending debt ceiling debate at least another month away, market focus will return to plain economic fundamentals next week. The sentiment is being bolstered by two central bank announcements – the ECB (January 10th, 7:45AM EST) and BOE (January 10th, 7:00AM EST). Although nothing really new is expected, both events are still likely to take the lion’s share of attention.

Nothing is expected to happen when the Bank of England meets for the first time in 2013. Although concerns have emerged over a divide in the central bank, it is unlikely that the monetary body will move to do anything other than wait-and-see. The key remains in the results from the Funding for Lending program, which is entering its sixth month of operation. In the same respect, the ECB is unlikely to move when it decides on interest rates on Thursday. Instead, monetary policy leaders will continue to highlight the option of the OMT scheme in quelling any more crisis concerns, and likely point to stabilization in the region’s member economies in justifying no rate change.

http://blog.fxcc.com/forex-technical-market-analysis-january-07-2013/

Forex Economic Calendar

2013-01-07 09:30 GMT | E.M.U. Sentix Investor Confidence (Jan)

2013-01-07 10:00 GMT | E.M.U. Producer Price Index (YoY) (Nov)

2013-01-07 15:00 GMT | Canada. Ivey Purchasing Managers Index s.a (Dec)

2013-01-07 22:30 GMT | Australia. AiG Performance of Construction Index (Dec)

Forex News

2013-01-07 05:37 GMT | US Dollar buyers not giving up

2013-01-07 05:16 GMT | NZD/USD pressured below 0.8300

2013-01-07 04:19 GMT | EUR/USD, recovery above 1.3150 exposes 1.33 – BBH

2013-01-07 03:25 GMT | AUD/JPY multi-year highs capped below 93

TECHNICAL ANALYSIS

-----------------------

EURUSD

HIGH: 1.30789 | LOW: 1.30283 | BID: 1.30356 | ASK: 1.30365 | CHANGE: -0.24% | TIME: 07:50:31

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Low

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Bearish pressure stays intact though retracement formation might take another step and refresh local highs above the resistance at 1.3065 (R1) would suggest next targets at 1.3082 (R2) and 1.3100 (R3) in potential. Downwards scenario: Next support comes in at the 1.3026 (S1) level. Loss here might keep the rally intact and drive market price towards to the next targets at 1.3009 (S2) and 1.2994 (S3).

Resistance Levels: 1.3065, 1.3082, 1.3100

Support Levels: 1.3026, 1.3009, 1.2994

----------------------

GBPUSD

HIGH: 1.60817 | LOW: 1.60211 | BID: 1.60263 | ASK: 1.60275 | CHANGE: -0.27% | TIME: 07:50:32

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

Upwards scenario: Cable has bounced back, however If it manages to break above the next resistance level at 1.6082 (R1), we expect to see new step of uptrend development with possible targets at 1.6119 (R2) and 1.6160 (R3). Downwards scenario: Market sentiment has improved for the bearish oriented traders. Friday low is acting now as key support level at 1.6003 (S1), clearance here is required to attack lower targets at 1.5964 (S2) and 1.5924 (S3).

Resistance Levels: 1.6082, 1.6119, 1.6160

Support Levels: 1.6003, 1.5964, 1.5924

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USDJPY

HIGH: 88.373 | LOW: 87.789 | BID: 87.838 | ASK: 87.844 | CHANGE: -0.34% | TIME: 07:50:33

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

Upwards scenario: USDJPY accomplished new step of uptrend formation and fall to the correction formation. Risk of further market increase is seen above the resistance at 87.95 (R1). Violation here might increase bullish pressure and expose next targets at 88.15 (R2) and 88.34 (R3). Downwards scenario: Bearish pressure remains in power today as both moving averages are pointing down. Next support level is seen at 87.59 (S1). Decline below it might resume weakness towards to our targets 87.40 (S2) and 87.22 (S3).

Resistance Levels: 87.95, 88.15, 88.34

Support Levels: 87.59, 87.40, 87.22د

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

[alayoua]

Forex Technical & Market Analysis FXCC Jan 08 2013

Japan to buy ESM bonds to stabilize the yen

The big story in the Asian session is the announcement by Japan of its commitment to purchase ESM bonds to help stabilize Europe, Japan Finance Minister Taro Aso told reporters. The decision-maker added that Japan will buy European ESM bonds using FX reserves, although amount of bond buys is undecided at this point, he said. In another Reuters headline, Mr. Aso said the buys will start as soon as today. Meanwhile, the Economic Revival Minister Amari said that upcoming BoJ stimulus will be “significant”.

Meanwhile,after months of uncertainty and struggle to reach a compromise in Congress, lawmakers finally voted on a deal to avoid falling completely off of the fiscal cliff. The agreement, voted on early New Year’s Day by the Senate, was finally passed by the House late at night, just days before the new Congress is sworn in. Tax reform dominated much of the heated debate in recent weeks, but the Democrats and Republicans finally reached an agreement in order to avoid a significant impact on economic activity, at least in the short-term.

http://blog.fxcc.com/forex-technical...nuary-08-2013/

Forex Economic Calendar

2013-01-08 07:00 GMT | Germany. Trade Balance s.a. (Nov)

2013-01-08 10:00 GMT | E.M.U. Retail Sales (YoY) (Nov)

2013-01-08 11:00 GMT | Germany. Factory Orders n.s.a. (YoY) (Nov)

2013-01-08 20:00 GMT | United States. Consumer Credit Change (Nov)

Forex News

2013-01-08 05:59 GMT | GBP/USD moving sideways above 1.6100

2013-01-08 05:18 GMT | EUR/USD likely to remain on the defensive ahead of ECB

2013-01-08 04:41 GMT | AUD/USD at session lows below 1.0480

2013-01-08 04:21 GMT | EUR/AUD printing fresh weekly highs above 1.2500

TECHNICAL ANALYSIS

------------------------

EURUSD

HIGH: 1.31397 | LOW: 1.31035 | BID: 1.31231 | ASK: 1.31234 | CHANGE: 0.05% | TIME: 08 : 20:35

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Currently our next resistance level lie at fresh high formed today – 1.3139 (R1). Rise above it might provide sufficient space for the appreciation towards to next target at 1.3156 (R2). Final resistance for today could be found at 1.3171 (R3). Downwards scenario: Medium-term bias remains negative. Successful retest of our support at 1.3102 (S1) would suggest next targets at 1.3085 (S2) and 1.3069 (S3) in potential.

Resistance Levels: 1.3139, 1.3156, 1.3171

Support Levels: 1.3102, 1.3085, 1.3069

--------------------------

GBPUSD

HIGH: 1.61286 | LOW: 1.61014 | BID: 1.61026 | ASK: 1.61036 | CHANGE: -0.07% | TIME: 08 : 20:36

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

Upwards scenario: Both moving averages support current retracement formation from its initial downtrend. Positive market sentiment might be found above the key resistance level at 1.6130 (R1). Above here is possible appreciation towards to our resistance levels at 1.6148 (R2) and 1.6166 (R3). Downwards scenario: Next support level is seen at 1.6093 (S1), drop below it would suggest next target at 1.6076 (S2) and any further fall would then be targeting 1.6058 (S3).

Resistance Levels: 1.6130, 1.6148, 1.6166

Support Levels: 1.6093, 1.6076, 1.6058

----------------------------

USDJPY

HIGH: 87.807 | LOW: 87.234 | BID: 87.416 | ASK: 87.421 | CHANGE: -0.42% | TIME: 08 : 20:37

OUTLOOK SUMMARY: Down

TREND CONDITION: Downward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

Upwards scenario: Next resistance level locates above the local peak at 87.81 (R1). Break here is required to enable next target at 87.95 (R2) and any further rise would then be limited to 88.09 (R3). Downwards scenario: Our initial support level lie at 87.40 (S1). Loss here would enable bearish forces and might expose lower targets at 87.26 (S2) and 87.12 (S3) during the day.

Resistance Levels: 87.81, 87.95, 88.09

Support Levels: 87.40, 87.26, 87.12

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

[alayoua]

Forex Technical & Market Analysis FXCC Jan 09 2013

Eurozone crisis still far from over

Eurozone unemployment reached a record high of 11.8% in November, the European Commission reported on Tuesday. Data also showed an increase in youth unemployment to 24.4%. This proves that the crisis in the area is still far from over, despite recent opinions to the contrary (including European Commission head Jose Manuel Barroso’s hopeful declarations this morning). Martin van Vliet from ING, who notices this latest wave of optimism among Eurozone consumers and businesses suggests that “with more fiscal austerity in the pipeline, the debt crisis still unresolved, and unemployment rising (and hitting a fresh record high of 11.8% in November), consumers and hence businesses still have plenty to worry about. Moreover, despite the recent improvement, Eurozone economic sentiment remains in recession territory.”

German Chancellor Angela Merkel held a meeting with Greek PM Antonis Samaras in Berlin on Tuesday, during which the Greek leader assured that his country was delivering on promises to implement austerity measures and was carrying out reforms in return for European aid. “We are trying to win back credibility, on the part of the people of Europe and on the part of the markets,” Samaras told reporters during a press conference. Angela Merkel praised Greece’s efforts to reduce its debt load so far and expressed her interest in the progress of implementation of the previously agreed austerity measures. She also warned that 2013 will be a tough year for the Eurozone. “We must agree on stronger economic policy cooperation by June this year, and there is plenty of work ahead of us,” she said.-FXstreet.com

http://blog.fxcc.com/forex-technical...nuary-09-2013/

Forex Economic Calendar

2013-01-09 09:30 GMT | United Kingdom. Goods Trade Balance (Nov)

2013-01-09 10:00 GMT | E.M.U. Gross Domestic Product s.a. (QoQ) (Q4)

2013-01-09 11:00 GMT | Germany. Industrial Production s.a. w.d.a. (YoY) (Nov)

2013-01-09 13:15 GMT | Canada. Housing Starts s.a (YoY) (Dec)

Forex News

2013-01-09 05:17 GMT | EUR/USD lacks stimulus; earnings, Fed speeches, ECB eyed

2013-01-09 05:05 GMT | GBP/USD looking again toward 1.6000

2013-01-09 04:13 GMT | EUR/JPY below MoF Aso ESM level of 114.55-60

2013-01-09 02:36 GMT | USD/JPY moves above descending trend line; hits 87.50

TECHNICAL ANALYSIS

--------------------------

EURUSD

HIGH: 1.30933 | LOW: 1.30671 | BID: 1.30843 | ASK: 1.30849 | CHANGE: 0.03% | TIME: 08 : 18:43

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bearish

IMPLIED VOLATILITY: Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Appreciation above the 1.3103 (R1) might boost the upside pressure. Next visible resistance levels are expected at 1.3118 (R2) and 1.3134 (R3) in potential. Downwards scenario: Fresh low, formed today is pointing to key short-term support level at 1.3067 (S1). Decline below it would suggest next intraday target at 1.3052 (S2) and any further easing would then be targeting 1.3036 (S3).

Resistance Levels: 1.3103, 1.3118, 1.3134

Support Levels: 1.3067, 1.3052, 1.3036

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GBPUSD

HIGH: 1.60684 | LOW: 1.60368 | BID: 1.60533 | ASK: 1.60543 | CHANGE: 0.01% | TIME: 08 : 18:44

OUTLOOK SUMMARY: Down

TREND CONDITION: Sideway

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

Upwards scenario: Our retail trading market sentiment indicator shows, that market participants are bullish. Penetration above the 1.6069 (R1) might lead to the protective orders execution and drive market price towards to next targets at 1.6088 (R2) and 1.6105 (R3). Downwards scenario: Next support level stays at 1.6036 (S1). Break here would suggest next target at 1.6020 (S2) and any further fall would then be limited by last support at 1.6003 (S3).

Resistance Levels: 1.6069, 1.6088, 1.6105

Support Levels: 1.6036, 1.6020, 1.6003

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USDJPY

HIGH: 87.543 | LOW: 86.829 | BID: 87.387 | ASK: 87.393 | CHANGE: 0.41% | TIME: 08 : 18:45

OUTLOOK SUMMARY: Up

TREND CONDITION: Upward penetration

TRADERS SENTIMENT: Bullish

IMPLIED VOLATILITY: Medium

Upwards scenario: The short-term tendency for the price is oriented to the upside. Our next resistance level is placed above the local peak at 87.56 (R1). Strengthening above it would point to resistive structure at 87.71 (R2) onto 87.86 (R3). Downwards scenario: If the pair gains momentum today on the downside and overcome our next support level at 87.22 (S1) then intraday outlook would turn into negative territory. Possible targets could be exposed at 87.07 (S2) and 86.92 (S3).

Resistance Levels: 87.56, 87.71, 87.86

Support Levels: 87.22, 87.07, 86.92

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

[alayoua]

Forex Technical & Market Analysis FXCC Jan 10 2013

Limited chance of ECB rate cut in January; BoE unlikely to act

Not much excitement is expected from the first ECB and BoE monetary policy meetings of 2013, as the majority of economists believe both central banks will remain on hold this month. Nevertheless, there are some doubts concerning ECB's action, as Mario Draghi hinted in December at a possibility of another rate reduction.

The general expectation for ECB's January monetary policy meeting is that of no change. Despite the fact that the central bank signalized its readiness to perform further rate cuts, "they know as well as everyone else in the market that we can’t carry on with such low interest rates for ever," as Steve Ruffley suggests. Other contributors point out that the OMT program has brought relief to the markets, that peripheral countries' bond yields have dropped and that "fundamentals are showing signs of stabilization in major countries like France and Germany," in the words of Richard C. Lee, and that all of these factors significantly reduce the need for a cut.

https://support.fxcc.com/email/technical/10012013/

Forex Economic Calendar

2013-01-10 12:00 GMT | United Kingdom. BoE Interest Rate Decision

2013-01-10 12:45 GMT | E.M.U. ECB Interest Rate Decision

2013-01-10 13:30 GMT | Canada. New Housing Price Index (YoY) (Nov)

2013-01-10 23:50 GMT | Japan. Trade Balance - BOP Basis (Nov)

Forex News

2013-01-10 05:34 GMT | EUR/GBP flat around 0.8150 ahead of BoE/ECB

2013-01-10 05:34 GMT | Can the ECB bring clarity to the EUR/USD?

2013-01-10 05:18 GMT | NZD/JPY highest since Sept 2008 above 74.00

2013-01-10 04:52 GMT | USD/JPY rally reaching a peak - ANZ

TECHNICAL ANALYSIS

--------------------

EURUSD :

HIGH 1.30661 LOW 1.30388 BID 1.30458 ASK 1.30464 CHANGE -0.14% TIME 07 : 55:11

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Immediate resistance is seen at 1.3058 (R1). If the price manages to overcome it we suggest next target at 1.3073 (R2) with possibility to reach final resistance at 1.3087 (R3). Today in focus- ECB Rate decision at 12:45 GMT. Downwards scenario: While both moving averages are pointing down, medium-term negative market sentiment would be valid. Key support lie at 1.3036 (S1), below here opens route towards to our initial targets at 1.3021 (S2) and 1.3005 (S3).

Resistance Levels: 1.3058, 1.3073, 1.3087

Support Levels: 1.3036, 1.3021, 1.3005

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GBPUSD :

HIGH 1.60269 LOW 1.6004 BID 1.60102 ASK 1.60112 CHANGE -0.07% TIME 07 : 55:12

OUTLOOK SUMMARY : Down

TREND CONDITION : Downward penetration

TRADERS SENTIMENT : Bullish

IMPLIED VOLATILITY : High

Upwards scenario: BOE Interest Rate decision at 12:00 GMT might increase volatility today. Next immediate resistance is seen at 1.6036 (R1). Above that level opens a route towards to higher target at 1.6059 (R2) and any further price advance would then be targeting 1.6083 (R3). Downwards scenario: Market seems to have found a base at fresh low formed yesterday. Below here locates our next support level at 1.5992 (S1) and opens way towards to immediate supports at 1.5969 (S2) and 1.5945 (S3).

Resistance Levels: 1.6036, 1.6059, 1.6083

Support Levels: 1.5992, 1.5969, 1.5945

-----------------------

USDJPY :

HIGH 88.213 LOW 87.862 BID 88.178 ASK 88.183 CHANGE 0.35% TIME 07 : 55:13

OUTLOOK SUMMARY : Up

TREND CONDITION : Upward penetration

TRADERS SENTIMENT : Bearish

IMPLIED VOLATILITY : Medium

Upwards scenario: USDJPY having during the Asian session and found an element of resistive measures at 88.22 (R1). Clearance of this level would suggest uptrend development with possible targets at 88.36 (R2) and 88.51 (R3) Downwards scenario: A corrective phase might occur below the immediate support level at 88.00 (S1). Clearance here is required to develop a short-term bearish momentum and expose our next target at 87.85 (S2). Any further correction would then be targeting 87.70 (S3).

Resistance Levels: 88.22, 88.36, 88.51

Support Levels: 88.00, 87.85, 87.70

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