Daily Forex Market by FXCC 24Feb2012

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Daily Forex Market by FXCC 24Feb2012

 

Aussie Dollar Set for a Two-Week Gain..

 

The euro was unchanged at $1.3373 as of 8:40 a.m. in Tokyo from Thursday and earlier touched $1.3379, matching the highest since Dec. 12. The shared currency was at 106.90 yen from 106.98 yesterday, when it rose 0.6 percent. The yen was at 79.94 per dollar from 80 yesterday. The USD/JPY finally broke down through the key 80.00 support level late Thursday after falling almost 50 pips from 80.30 to break support posting fresh intra-day lows at 79.85. Sterling advanced 0.2 percent to $1.5696 at 5:08 p.m. London time, trimming yesterday’s 0.7 percent decline. The currency dropped 0.3 percent to 84.78 pence per euro, after depreciating to 84.89 pence, the weakest since Dec. 12.

 

Australia’s dollar gained 0.1 percent to $1.0728 at 11:00 a.m. in Sydney, set to rise 0.2 percent this week. The Aussie bought 85.75 yen from 85.74 yesterday. New Zealand’s currency bought 83.73 U.S. cents, 0.1 percent higher than yesterday’s close in New York. It was poised for a 0.6 percent weekly advance. The kiwi was at 66.93 yen from 66.90.

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URL: https://support.fxcc.com/email/technical/24022012

 

UPCOMING EVENTS

2012-02-24 07:00 GMT | Germany Gross Domestic Product s.a (QoQ) (Q4)

2012-02-24 07:00 GMT | Germany Gross Domestic Product n.s.a (YoY) (Q4)

2012-02-24 09:30 GMT | United Kingdom Gross Domestic Product (QoQ) (Q3)

2012-02-24 09:30 GMT | United Kingdom Gross Domestic Product (YoY) (Q3)

 

FOREX NEWS

2012-02-24 05:40 GMT | EUR/USD muted in Asia around 1.3370

2012-02-24 02:55 GMT | EUR/AUD slides below 1.2450 on RBA comments

2012-02-24 01:11 GMT | AUD/JPY breaks the 86.00 handle

2012-02-24 00:51 GMT | GBP/USD steady below 1.5750

 

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EURUSD : Connection timeout

DAILY WEEKLY MONTHLY

 

 

1.3493 | 1.3469 | 1.3425 | 1.3377

1.3293 | 1.3211 | 1.3182 | 1.3139

 

SUMMARY : Up

TREND : Up trend

MA10: Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

EURUSD formed a high at 1.3377 (R1) taking away positive our 3 targets (1.3291, 1.3322 and 1.3375) that were recommended in yesterday’s analysis gaining a total of 117 pips!! EURUSD is in a strong uptrend momentum. A break above 1.3377 will continue its upward move targeting next resistance level at 1.3425 (R1). A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 1.3377(R2). A stop loss should be placed below 1.3293 (S1).

 

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GBPUSD : 1.57313 / 1.57327

DAILY WEEKLY MONTHLY

 

 

1.5924 | 1.5879 | 1.5814 | 1.5755

1.5700 | 1.5649 | 1.5593 | 1.5424

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

GBPUSD rebounded from 1.5649 (S2) and made a sharp move upwards penetrating successfully first and second target (1.5700 and 15735) ending our day with profits!! It seems now the pair is doing a small correction before it continues its move upwards towards 1.5814 (R2). A proper confirmation for long positions will be when the price manages to break above our first resistance level. A stop loss should be placed below 1.5680.

 

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USDJPY : 80.408 / 80.412

DAILY WEEKLY MONTHLY

 

 

81.86 | 81.47 | 80.84 | 80.48

79.88 | 79.35 | 78.97 | 78.69

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

USDJPY after a successful run since beginning of February USDJPY is moving in a consolidation mode between the levels of 79.88 (S1) and 80.46 (R1). A break above upper level we will be suggesting target at 80.84 (R2) and of course continuation of the uptrend. In the other hand a break below 79.88 (S1) we can expect the price to retest support at 79.35 (S2). As far as the price is moving between 79.88 (S1) and 80.46 (R1) we remain flat.

 

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