Market Overview by FXCC

[alayoua]

Daily Forex Market by FXCC 02Mai2012

 

Daily Forex Market by FXCC 02Mai2012

 

EUR/USD stuck in the middle with 1.3235

 

EUR/USD is recovering at 1.3228 part of today's Asia-Pacific session losses, bouncing from lows at 1.3205, after falling from session highs around 1.3240. The pair is marginally lower by -0.09% from yesterday's open, with local share markets on the rise overall Nikkei +0.33% and Hang Seng +1.15%. The London session ahead brings different EU countries PMI and job figures, starting with Italy, France and Germany PMI figures around 07:45 GMT, Germany unemployment at 07:55 GMT, followed by EU PMI at 08:00 GMT and Italy unemployment at same hour, Italy PPI at 09:00 GMT and UE unemployment at same hour. No major sovereign debt auctions will take place today, while Ecofin is scheduled for all morning long.

 

GBP/JPY is marginally higher in Asia-Pacific at 130.09 from an open around 129.90, though retreating from session highs at 130.26. The cross is still lower for the week by -0.36%. AUD/USD is currently at session highs 1.0343, bouncing from session lows 1.0327. The pair found support this Tuesday at 1.0305 after the massive sell-off following the RBA 50bps rate cut yesterday sending AUD/USD from above 1.0400 to mentioned day lows. It is down by -0.79% from yesterday's Asia-Pacific open price.

Read More

https://support.fxcc.com/email/technical/02052012/

 

 

UPCOMING EVENTS :

2012-05-02 07:30 GMT Switzerland SVME - Purchasing Managers' Index (Apr)

2012-05-02 08:00 GMT Germany Purchasing Manager Index Manufacturing (Apr)

2012-05-02 08:00 GMT Germany Unemployment Change (May)

2012-05-02 08:00 GMT European Monetary Union Purchasing Manager Index Manufacturing (Apr)

 

FOREX NEWS :

2012-05-02 02:38 GMT China: HSBC PMI up at 49.3 vs 48.3

2012-05-02 01:11 GMT USD/JPY can't break above 80.30

2012-05-02 01:03 GMT New Zealand Apr ANZ Commodity Price -4.5%

2012-05-02 00:20 GMT AUD/USD capped below 1.0350

 

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

EURUSD 1.32155 / 1.32161

DAILY WEEKLY MONTHLY

 

 

1.3443 | 1.3381 | 1.3347 | 1.3283

1.3203 | 1.3156 | 1.3104 | 1.3051

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The EURUSD didn’t made any significant moves yesterday as it traded in a consolidation mode between the 1.3203 (S1) and 1.3283 (R1) levels. A break below 1.3203 would suggest a target at 1.3156 (S2) and further fall will then focus on 1.3104 (S3) a strong technical and psychological level. On the other hand if the price manages to stay above the first support (S1) level we expect the price to retest 1.3283 (R1) and a break above that level will concentrate our focus on 1.3381(R3).

 

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

GBPUSD : 1.62275 / 1.62282

DAILY WEEKLY MONTHLY

 

 

1.6392 | 1.6349 | 1.6301 | 1.6247

1.6186 | 1.6134 | 1.6078 | 1.6009

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The GBPUSD fell yesterday and was supported at 1.6186 (S1) a strong technical level (correction). The price then rose and was able to break above yesterday's resistance completing a close just above our Fibonacci level 38.2%. We expect the price to move upwards and to retest our resistance levels at 1.6247 (R1) and 1.6301 (R2). A stop loss should be placed at 1.6186 (S1).

 

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

USDJPY : 80.364 / 80.369

DAILY WEEKLY MONTHLY

 

 

81.89 | 81.45 | 81.04 | 80.65

80.05 | 79.65 | 79.13 | 78.67

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Oversold

 

 

MARKET ANALYSIS - Intraday Analysis

 

The USDJPY moved closer to support levels at 79.65, retested it twice but didn’t manage to break below it. After that, the price rise and was supported at that level. If price will be able to break above today’s first resistance level at 80.65 (R1) would suggest target at 81.04 (R2). On the downside, a break below 80.05 (S1) would suggest target at 79.65 (S2) and further fall will then be limited at 79.13 (S3).

 

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

[alayoua]

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Edited May 18, 2012 by alayoua

[alayoua]

Daily Forex Market by FXCC 03Mai2012

 

Daily Forex Market by FXCC 03Mai2012

 

EUR/USD below 1.3150 ahead of ECB

 

EUR/USD is currently at 1.3145 off session lows at 1.3137, coming lower from NY session highs 1.3167, in a relatively quiet Asia-Pacific session with Tokyo closed for holiday. Local open share markets trade in the red over all, with Shanghai index leading the way lower with some -1.85%. The London session ahead shows a busy agenda though not because of many risk events but because of very key ones, including ECB interest rate statement at 11:45 GMT this time extraordinarily coming from Barcelona, followed by press conference at 12:30 GMT. Also at 09:00 GMT will come EU monthly PPI, but more importantly, two major bond auctions will take place along the European morning, from Spain and France at 08:30 and 08:50 GMT respectively.

 

Cable is quietly trading within a tight range 1.6207/1.6188 since early NY, last at 1.6195, lower by -0.15% since yesterday's Asia-Pacific open. The pair is down for the week some -0.43% after hitting fresh 7-month highs Monday at 1.6301, now retreating from there with weekly lows yesterday at 1.6162.

Read More

https://support.fxcc.com/email/technical/03052012/

 

UPCOMING EVENTS :

2012-05-03 08:30 GMT | United Kingdom Purchasing Manager Index Services (Apr)

2012-05-03 09:00 GMT | European Monetary Union Producer Price Index (YoY)

2012-05-03 09:00 GMT | European Monetary Union Producer Price Index (MoM)

2012-05-03 11:45 GMT | European Monetary Union ECB Interest Rate Decision

 

FOREX NEWS :

2012-05-03 04:00 GMT | EUR/USD below 1.3150 ahead of ECB

2012-05-03 03:33 GMT | AUD/CAD hits fresh 5-month low 1.0146

2012-05-03 00:57 GMT | GBP/USD quietly trading below 1.6200

2012-05-03 00:27 GMT | USD/JPY frozen above 80.00

 

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

EURUSD : 1.31412 / 1.31415

 

 

1.3283 | 1.3241 | 1.3203 | 1.3168

1.3123 | 1.3104 | 1.3057 | 1.3000

 

SUMMARY : Down

TREND : Down trend

MA10 : Neutral

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The EURUSD fell and formed a bottom at 1.3123 (S1). After that the price rebounded and was able to break above yesterday’s support at 1.3168. A break above the first resistance would suggest a target of 1.3203 (R2). If price holds its momentum on the upside we can expect a further rise towards 1.3241 (R3). On the other hand, if the price does not manage to break above 1.3168 (R1) we can expect the pair to retest support at 1.3104 (S2). A break below that level would suggest target at 1.3057 (S3).

 

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

GBPUSD : 1.61897 / 1.61905

DAILY WEEKLY MONTHLY

 

 

1.6374 | 1.6301 | 1.6248 | 1.6209

1.6160 | 1.6128 | 1.6075 | 1.6013

 

SUMMARY : Down

TREND : Down trend

MA10 : Neutral

MA20 : Neutral

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The GBPUSD rebounded from 1.6301 (R3) yearly high and then fell, forming a bottom at 1.6160 (S1). A break below the first support level (S1) would suggest a target of 1.6128 (S2) and a further fall will be limited at 1.6075 (S3). On the other hand, if price holds its momentum on the upside we can expect a rise and retest towards 1.6209 (R1). A break above that level will then bring focus to the next resistance level at 1.6248 (R2).

 

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

USDJPY : 80.202 / 80.207

DAILY WEEKLY MONTHLY

 

 

81.94 | 81.43 | 81.04 | 80.65

80.05 | 79.65 | 79.08 | 78.67

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Neutral

MA20 : Neutral

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The USDJPY didn’t made any significant moves in yesterday’s session as it traded in a consolidation mode between the 80.05 (S1) and 80.65 (R1) levels. A break below 80.05 would suggest a target at 79.65 (S2) and further fall will then focus on 79.08 (S3) a strong technical and psychological level. On the other hand if the price manages to stay above the first support (S1) level we expect the price to retest 80.65 (R1) and a break above that level will concentrate our focus on 81.43(R3).

 

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

[alayoua]

Daily Forex Market by FXCC 10Mai2012

 

Daily Forex Market by FXCC 10Mai2012

 

Greece expected to leave the Eurozone

 

Global markets continued to fall, including equities, and commodities as investors were in full risk aversion mode. Traders are moving in droves to the safe harbor, of the US dollar and the Japanese Yen. Political turmoil ranging from France to Greece has upset markets. The EU had stated that they will without the rest of the bailout money from Greece until political issues are resolved. In Spain, the government has had to step in and take over the largest bank, Bankia. Economic worries have spooked markets and forced Spain’s borrowing costs to skyrocket.Gold continues to decline along with oil. Yesterday the EIA release crude oil inventory reports showing that crude oil inventories had continued to rise. In early morning Asian news, equity markets continued to decline, as data released in China showed a continued slowdown, while Australia reported a better the forecast unemployment report.

Read More

https://support.fxcc.com/email/technical/10052012/

 

UPCOMING EVENTS :

12:00 : GBP Interest Rate Decision

13:30 : CAD Trade Balance

13:30 : USD Trade Balance

13:30 : USD Initial Jobless Claims

 

FOREX NEWS :

Trade surplus wider than expected in April

AUD/USD dives on worse than expected China data, back below 1.0100

GBP/AUD off from fresh yearly highs 1.6074 back below 1.6000

EUR/AUD slips after upbeat Aus. jobs data

 

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

EURUSD 1.29611 / 1.29614

DAILY WEEKLY MONTHLY

 

 

1.2804 | 1.2858 | 1.2896

1.2988 | 1.3042 | 1.308

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The euro is weak, having lost close to 0.2% against the USD, but still trading within Wednesdays range. The inability to break below 1.2955 was reassuring for EUR bulls in an environment where most drivers are turning rapidly bearish. Having broken the 1.2955 in yesterday, we will see the bears continue to gain strength. The markets are taking a breather this morning as the euro has recovered to 1.2951 after opening at 1.2927 It seems to be moving down again now and if there is a break below 1.2922 that could lead to an acceleration of the move lower, with support at 1.2818 targeted from both a monthly and a weekly pivot. A recovery on the other hand would most likely see the exchange rate struggle higher to fill the gap at 1.3080.

 

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

GBPUSD 1.61460 / 1.61469

DAILY WEEKLY MONTHLY

 

 

1.5996 | 1.6032 | 1.6084

1.6172 | 1.6208 | 1.626

 

SUMMARY : Neutral

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The 1.6142 line is now fluid, after providing support for the past two weeks. This is followed by the psychologically important support level of 1.60, which could be tested if the dollar continues to rally. Next, 1.5930, which saw a lot of movement by the pair in April, has been providing strong support for the pair. Below, there is support at 1.5805, which also was tested in April. The next support level is 1.5750, which has provided support since mid-March. The final line for now is 1.5648, which was last tested in March. Overall technicals are mixed ‐ indicators that remain bullish are waning, though near term support is found at the 21 day MA-1.6098. Resistance remains at the 9 day MA -1.6189

 

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

USDJPY : 79.702 / 79.707

DAILY WEEKLY MONTHLY

 

 

78.9506 | 79.1933 | 79.4551

79.9596 | 80.2023 | 80.4641

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical are showing bearish ‐ the value of the RSI indicator is negative and declining, MACD is thinly negative and steady, while CCI has crossed down the 100 line on the 1-hour chart, giving over all short signals. A break above yesterday's top and nearest resistance 80.08 would encourage further recovery of the dollar. Immediate support is today's bottom at 79.60, and consistent break below it could strengthen the yen further down towards next target 78.76.

 

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

[alayoua]

Daily Forex Market by FXCC 11Mai2012

 

Daily Forex Market by FXCC 11Mai2012

 

Eco Calendar thin keep an eye on Politics

 

Global equities continue to retreat despite a decent round of overnight fundamentals, as Greece's high stakes election drama weighs on market sentiment. European equity benchmarks are lower and Dow futures are suggesting a tiny drop at the market open. Global currency markets are divided with the A$, NZ$, pound sterling and CAD all up against the USD while the won, Scandinavian currencies and the rand are all lower and the euro is flat. Most European debt markets are rallying or are flat across 10s except for UK 10s that were disappointed by flat stimulus from the BoE.

 

Solid European manufacturing data didn’t much help the global market tone. French manufacturing production climbed 1.4% m/m and far surpassed consensus expectations for a small drop, even as total industrial production fell thanks to lower electricity and gas production following the prior month’s massive gain in this category. Italian manufacturing also climbed 0.5% and surpassed expectations. UK manufacturing production climbed 0.9% m/m which nearly doubled consensus. German Chancellor Angela Merkel is sticking to her guns and good for her. She reiterated this morning that deficit financed stimulus to growth is a misguided path, and that austerity is the only solution. This continues to put the Franco-German partnership on a collision course over the summer. In the US yesterday data was received with mixed sentiment. Chairman Bernanke’s speech was market neutral. Chinese data has been lackluster, but not market movers.

Read More

https://support.fxcc.com/email/technical/11052012/

 

UPCOMING EVENTS :

2012-05-11 8:30 GMT | GBP - Producer Price Index - Input / output

2012-05-11 11:00 GMT | CAD - Net Change in Employment (Apr)

2012-05-11 12:30 GMT | USD - Producer Price Index (YoY) & (MoM)

2012-05-11 12:30 GMT | CAD - Unemployment Rate

 

FOREX NEWS :

2012-05-11 06:12 GMT | Germany: Annual Inflation unchanged at 2.1% in April

2012-05-11 06:11 GMT | China Apr Urban investment (YTD) (YoY) down to 20.2%

2012-05-11 06:08 GMT | China Retail Sales (YoY) declines to 14.1% vs 15.2%

2012-05-11 06:03 GMT | Germany: CPI (YoY) unchanged at 2.1% in Apr; (MoM) rises 0.2%

 

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

EURUSD :1.29171 / 1.29175

 

 

1.2859 | 1.2892 | 1.2913

1.2967 | 1.3 | 1.3021

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

 

 

MARKET ANALYSIS - Intraday Analysis

 

Major bearish reversal pattern has broken psychological support at 1.3000. A sustained close below 1.3000 unlocks the important multi-month reversal pattern for a fast move into 1.2626 (16 January). Only a sustained daily close back above 1.3284 puts this scenario on hold for a potential recovery into our upside target zone at 1.3430/60 (200-day average). Signals all continue to remain bearish

 

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

GBPUSD :1.61105 / 1.61115

DAILY WEEKLY MONTHLY

 

 

1.6001 | 1.6047 | 1.609

1.6179 | 1.6225 | 1.6268

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

Watch for more choppy activity over the short-term the overall tone remains positive. A return to 1.6199 would suggest completion of the correction, setting the stage for an attack on 1.6302 then 1.6500/1.6618 (psychological) as the bull run extends. A close back below 1.6063 from here would suggest stalling upside momentum, with support at 1.5805 watch for key support at 1.5603.

 

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

USDJPY :79.841 / 79.847

DAILY WEEKLY MONTHLY

 

 

79.2439 | 79.4252 | 79.6549

80.0659 | 80.2472 | 80.4769

 

SUMMARY : Bearish

TREND : Up trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The yen continues to trade within a multi-week bear channel, only a snap back above the upper ceiling near 80.50 signals a potential recovery higher into 82.00. This may offer renewed buying opportunities. A sustained weakness beneath 80.00-80.12 (38.2% Fibonacci retrace/January advance), will lead to further setbacks into critical support at 79.16 (61.8% Fibonacci).

 

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

[alayoua]

Daily Forex Market by FXCC 14Mai2012

 

Daily Forex Market by FXCC 14Mai2012

 

EU Finance Ministers call for Emergency Meeting.

 

Markets continue to reel over European uncertainties as they open the week in risk-aversion mode. Greece was unable to form a government over the weekend, and will go back to the polls to try to elect new parties. Spain’s ongoing financial woes and growing worries over the banks in Spain also weigh on the markets. The US dollar and the Japanese Yen, continue to maintain strength as investor’s park funds in safe havens. Gold and crude oil continue to fall, as most USD denominated currencies cannot support the high dollar at present. Even gold trading under the 1600 price is too expensive with the current dollar value. The early part of the week, is thin on eco data, but should be big in political drama as the EU Finance Ministers have called an Emergency meeting today to discuss the future of Greece.

Read More

https://support.fxcc.com/email/technical/14052012/

 

UPCOMING EVENTS :

2012-05-14 08:00 GMT | Italy - Consumer Price Index (EU Norm) (MoM)

2012-05-14 08:00 GMT | Italy - Consumer Price Index (EU Norm) (YoY)

2012-05-14 09:00 GMT | European Monetary Union - Industrial Production w.d.a.

2012-05-14 09:00 GMT | European Monetary Union - Industrial Production s.a.

 

FOREX NEWS :

2012-05-14 06:10 GMT | Germany: Wholesale Price Index rises 0.5% in April

2012-05-14 06:00 GMT | Germany: Wholesale Price Index (MoM) grows 0.5% in Apr; (YoY) up 2.4%

2012-05-14 01:41 GMT | Australia: Housing finance rises 0.3% in March

2012-05-14 01:31 GMT | Australia Mar Investment Lending for Homes declines to -1%

 

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

EURUSD : 1.28887 / 1.28891

DAILY WEEKLY MONTHLY

 

 

1.2842 | 1.2874 | 1.2887

1.2905 | 1.2936 | 1.2978

 

SUMMARY : Bearish

TREND : Bearish

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

The sustained close below 1.3000 unlocked the important multi-month reversal pattern for a fast move into 1.2626 (16 January swing low). This morning MA 10 -20 all read sell, technical indicators are all reading sell, although the 5day MA is a buy signal. This might be an opportunity to buy on the dips below the 1.29 price. Support is found at the 1.28 level. Meanwhile, only a sustained daily close back above 1.3284 (01st May high), puts this scenario on hold for a potential recovery into our upside target zone at 1.3430/60 (200-day average).

 

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

GBPUSD 1.60754 / 1.60759

DAILY WEEKLY MONTHLY

 

 

1.6026 | 1.6040 | 1.6053

1.6080 | 1.6094 | 1.6107

 

SUMMARY : Up

TREND : Upward penetration

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The sterling should see further choppy activity over the short-term the overall tone remains positive and we look for 1.6063 to more or less contain current weakness. The pair will most likely recapture of 1.6199 suggesting completion of the correction, setting the stage for an attack on 1.6302 then 1.6500/1.6618 (psychological/August reaction high) as the bull run extends.

 

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

USDJPY : 80.050 / 80.056

DAILY WEEKLY MONTHLY

 

 

79.62 | 79.74 | 79.90

80.64 | 80.32 | 80.15

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bearish

MA20 : Bullish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The yen’s bearish pullback remains weak beneath but has pushed through the key psychological level at 80.00. We are looking at weakness beneath 80.00-80.12 (38.2% Fibonacci retrace/January advance), which will lead to further setbacks into critical support at 79.16 (61.8% Fibonacci). Today’s momentum pushes within a multi-week bear channel. Only a snap back above the upper ceiling near 80.50 signals a potential recovery higher into 82.00.

 

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

[alayoua]

Daily Forex Market by FXCC 15Mai2012

 

Daily Forex Market by FXCC 15Mai2012

 

Hollande Sworn in as President of France Today

 

Today, French President elect Hollande will be sworn into office. Over the next few weeks he will build a government, in the meantime he will appoint an temporary government. These appointments should give us some insight into his economic and financial plans and thoughts.The negative sentiment from the eurozone colors the global markets, as risk aversion remains the mode. With the leadership and the direction of the EU in question and the ongoing turmoil in Greece and increasing debt problems in Spain, markets are worried about who and how the eurozone will attempt to control and turn around the future of Europe. Data out this week might show that the eurozone has slipped back into recession. The overflow of the eurozone declining economic situation is harming its neighbors around the globe from China to the US. Commodities continue to fall, especially those that are USD denominated. The yen is reaching historical highs, which is a difficult situation for Japan. The USD still remains strong. Greece either leaving or being ousted from the euro becomes more likely each passing day.

Read More

https://support.fxcc.com/email/technical/15052012/

 

UPCOMING EVENTS :

2012-05-15 07:00 GMT | EUR German GDP

2012-05-15 09:00 GMT | EUR German ZEW Economic Sentiment

2012-05-15 12:30 GMT | USD Core CPI

2012-05-15 12:30 GMT | USD Core Retail Sales

 

FOREX NEWS :

2012-05-15 05:00 GMT | Japan Apr Consumer Confidence Index declines to 40

2012-05-15 04:40 GMT | EUR/USD above 1.2800 ahead of a very busy morning in London

2012-05-15 04:23 GMT | GBP/USD within tight 20-pip range ahead of UK trade data

2012-05-15 03:32 GMT | AUD/JPY off 4-month lows, still below 80.00

 

 

EURUSD : 1.28478 / 1.28481

DAILY WEEKLY MONTHLY

 

 

1.270 | 1.276 | 1.279

1.288 | 1.293 | 1.2973

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

 

 

MARKET ANALYSIS - Intraday Analysis

 

The risk adverse sentiment saw the pair march right through boundary at the 1.2875 and 1.2850 levels. In terms of technical levels, supports are seen at 1.2800, 1.2700 and then at 1.2624 (2012 low). On the other hand, resistance levels are seen at 1.2935/58 and then at 1.2979. The sustained closes below 1.3000 unlocks the important multi-month reversal pattern for a fast move into 1.2626. Daily indicators are all showing strong sell supported by MACD, RSI and ADX. MA 5-200 all read sell. Stochastic is deep in an oversold situation.

 

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

GBPUSD : 1.61051 / 1.61058

DAILY WEEKLY MONTHLY

 

 

1.598 | 1.602 | 1.605

1.613 | 1.616 | 1.620

 

SUMMARY : Neutral

TREND : Up trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

There is still no indication of a trend reversal, even as the pace of the decline is halted. At this time the pair is at 1.6085 and bouncing on the S4. This appears to have corrected the last up move. We should see an initial bounce to go to 1.6125. We are bullish above 1.6125 to the R5 at 1.6199 with the lower target at the support at 1.6014.

 

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

USDJPY : 79.875 / 79.880

DAILY WEEKLY MONTHLY

 

 

79.141 | 79.4135 | 79.641

80.140 | 80.412 | 80.64

 

SUMMARY : Bearish

TREND : Up trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The U.S. dollar/yen is currently testing the 100-day simple moving average (SMA) which is around 79.70/79.75, and has acted as support on recent tests,. The pair remains within a bearish medium-term channel with resistance around the 21-day SMA and weekly cloud top that converge around 80.45.

 

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

[alayoua]

Daily Forex Market by FXCC 16Mai2012

 

Daily Forex Market by FXCC 16Mai2012

 

The euro continues to plunge

 

While the broad sentiments prevailing in the market continue to be bearish, commodities and shares were seen rising following a rebound in euro. Recovery in Euro from a four month low after a surprisingly strong German GDP data took the pressure off the market and slightly lifted the sentiments. German economy grew 0.5 per cent in the first quarter against the expectation of 0.1 per cent. Euro Zone GDP data indicated that the region avoided recession though the economy continued to remain fragile. However, the overall sentiments were feeble on deepening worries over euro zone crisis and political uncertainty in Greece. Shortly after the exhilaration wore off the euro began to plummet hitting new recent lows to trade at this time at 1.2724.

 

Market mood continue to remain skeptical as investors fretted about the possibility of a Greek exit from the Euro zone. Financial markets would be fervently watching out for political events in Europe for further cues. With Europe reeling under both financial and political strain, all eyes are on today’s meet between German Chancellor Angela Merkel and new French president Francois Hollande. US eco data was neutral, with retail sales coming in soft.

Read More

https://support.fxcc.com/email/technical/16052012/

 

UPCOMING EVENTS :

2012-05-16 08:30 GMT | GBP Claimant Count Change

2012-05-16 09:30 GMT | GBP BoE Inflation Report

2012-05-16 09:30 GMT | GBP BoE Gov King Speaks

2012-05-16 18:00 GMT | USD FOMC Minutes

 

FOREX NEWS :

2012-05-16 04:42 GMT | EUR/GBP awaiting further cues from European session

2012-05-16 04:38 GMT | EUR/USD breaks below 1.2700 barriers with Asian share markets selling-off

2012-05-16 03:56 GMT | NZD trades top-heavy on poor dairy auction

2012-05-16 02:52 GMT | GBP/USD at session lows ahead of key UK data

 

 

EURUSD : 1.27133 / 1.27136

DAILY WEEKLY MONTHLY

 

 

1.253 | 1.262 | 1.268

1.282 | 1.292 | 1.297

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The Euro fell to quickly in Asian trading to validate the downtrend it also has pushed indicators and oscillators to their maximum reading, Current reading are miscued. We will have to re-evaluate numbers and movement later today. The price action on Monday was negative, and the fact that the 1.29 level finally gave way we showed support had been broken. The 1.29 was the last remnant of the support level in our view. The 1.26 level looks to be the next major support level, and although there will be bounces along the way, the headlines should continue to punish the Euro going forward. However, this pair will more than likely continue to be choppy. We would sell rallies on signs of failure, and a break below the Monday lows.

 

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

GBPUSD : 1.59630 / 1.59640

DAILY WEEKLY MONTHLY

 

 

1.581 | 1.589 | 1.594

1.607 | 1.615 | 1.62

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The current bout of risk aversion this week does not turn into panic; the GBP/USD has a chance to pop up toward the 1.6160 pivot in any short-term bout of risk appetite or stabilization. The next resistance above 1.6160 is a declining trend line which should meet price in the 1.6250-1.6280 area. Technicals all remain bearish with support at 1.6000, though downside set to continue. This morning’s surge has pushed the GBP below the psychological 1.60 price level. Support can be found at 1.58543 and 1.56722

 

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

USDJPY : 80.377 / 80.382

DAILY WEEKLY MONTHLY

 

 

79.453 | 79.634 | 79.973

80.493 | 80.674 | 81.013

 

SUMMARY : Bullish

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Bullish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The pair is trading between two moving averages (100 and 200). If the pair breaks 79.707, the pair will decline to 79.070. In terms of technical levels, supports are seen at 79.68/61 and then at 79.43. On the other hand, resistance levels are seen at 80.30/40 and 80.61 Indicators read a strong buy, although RSI has moved to neutral and MACD is in the sell range. MA 10 and 20 both show buy signals.

 

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

[alayoua]

Daily Forex Market by FXCC 17Mai2012

 

Daily Forex Market by FXCC 17Mai2012

 

Negative Sentiment and Risk Aversion Continue

 

Positive US economic data failed to lift markets. While US April housing starts were higher and industrial production rebounded, US markets sold off as the trading session continued, slipping on news that the ECB might cut funding to Greek banks. US equity indices were down by roughly 0.5% while Canadian equities performed somewhat more strongly. WTI fell by US$1.30 to close at $92.68 and the DXY was up moderately on the session. For a full write-up of today’s US and Canada economic data releases, please see the Economic Data Recap section below.

 

The Fed released the minutes from its April 24-25 meeting today, and they are making headlines for reasons that we find hard to discern. The minutes included the sentence “several members indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the downside risks to the forecast became great.” Minutes from the March 13 meeting said “A couple of members indicated that the initiation of additional stimulus could become necessary if the economy lost momentum or if inflation seemed likely to remain below its mandate-consistent rate of 2 percent over the medium run.” Market sentiment will remain negative towards Europe and the continued sell off of European assets is ongoing. Without some positive news or results in Greece, with lack of overall guidance by the EU and continued worries about Spain, the current situation is expected to hold.

Read More

 

 

UPCOMING EVENTS :

2012-05-17 12:30 GMT | USD Initial Jobless Claims

2012-05-17 12:30 GMT | CAD Wholesale Sales

2012-05-17 12:30 GMT | CAD Foreign Securities Purchases

2012-05-17 14:00 GMT | USD Leading Indicators

 

 

FOREX NEWS :

2012-05-17 04:34 GMT | GBP/USD: 1.5830 support zone in sight

2012-05-17 03:50 GMT | AUD/CAD bounces above 1.0050

2012-05-17 03:43 GMT | NZD/USD fall below 0.7607 gives way to 0.7469

2012-05-17 03:33 GMT | GBP/JPY quiet above key support 127.00

 

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

EURUSD : 1.27432 / 1.27436

DAILY WEEKLY MONTHLY

 

 

1.261 | 1.264 | 1.268

1.276 | 1.280 | 1.284

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technicals are moving to the oversold zone. The bearish trend is clear over weekly charts supported by the negativity on momentum and trend indicators. A break below 1.2625 will be a very negative indication for short and medium-term traders. Today is among key support at 1.2500 and key resistance at 1.2915. The general trend over short-term basis is to the downside targeting 1.1865 as far as areas of 1.3550 remain intact. Although we might see a bounce to the 1.29 level as bulls try to break the 1.30 price

 

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

GBPUSD : 1.59154 / 1.59162

DAILY WEEKLY MONTHLY

 

 

1.577 | 1.583 | 1.587

1.597 | 1.603 | 1.607

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

After breaching the psychological level of 1.6000, the pair has dropped violently, reinforcing the bearish outlook. The technical target should be at 1.5820-1.5810 followed by 1.5780 zones. Stochastic remains negative adding further confirmation for the bearish tone. The trading range for today is among key support at 1.5730 and key resistance at 1.6165.

 

-----------

USDJPY : 80.305 / 80.309

DAILY WEEKLY MONTHLY

 

 

79.847 | 80.025 | 80.195

80.543 | 80.721 | 80.891

 

SUMMARY : Bullish

TREND : Down trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Bullish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The pair continued consolidating above the psychological level of 80.00 and at the key support level of 80.30 while RSI 14 is on its way to attack the momentum resistance level reading a 50.A breakout above the resistance line of the descending channel is the main reason that supports the bullish expectations for today. Ultimately, a break above 80.50 will confirm and accelerate. The trading range for today is among key support at 78.80 and key resistance now at 81.75.

 

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

[alayoua]

Daily Forex Market by FXCC 18Mai2012

 

Daily Forex Market by FXCC 18Mai2012

 

Asian Markets Tumble on worries over Greece

 

Asian stocks are getting hammered in this morning’s session as they react to Greece’s debt downgrade and the Spanish banks’ downgrade by rating agencies Fitch and Moody’s. The euro has also given up all of its gains from Thursday and is lower by 0.20% in the morning trade.

 

On the economic front, we have the Producer Prices from Germany, which are expected to decline to 0.30% and could be slightly negative for the euro. There are no major data releases from the U.S. Today’s market fluctuations will be in response to Greece, Spain and the EU, with little on the eco front worldwide, the press and media will be digging for news and events. Watch for rumors and misquotes on days like today.

Read More

https://support.fxcc.com/email/technical/18052012/

 

UPCOMING EVENTS :

2012-05-18 12:30 GMT | CAD Core CPI (MoM)

2012-05-18 12:30 GMT | CAD CPI (MoM)

2012-05-18 12:30 GMT | CAD CPI (YoY)

2012-05-18 19:00 GMT | ARS Argentinian Economic Activity (YoY)

 

FOREX NEWS :

2012-05-18 04:23 GMT | GBP/USD could fall to 1.57 by early London - 2ndSkies

2012-05-18 04:19 GMT | EUR/USD below 1.2700 ahead of London, G-8 meeting and options expirations

2012-05-18 03:31 GMT | AUD/NZD regains the upside

2012-05-18 02:37 GMT | GBP/JPY hovering above 125.00 after sharp drop

 

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

EURUSD : 1.26623 / 1.26627

DAILY WEEKLY MONTHLY

 

 

1.258 | 1.262 | 1.266

1.274 | 1.278 | 1.2823

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

The euro continues neglecting the oversold reading appearing on daily studies due to the strong bearish trend on weekly studies. It is currently re-attacking yesterday’s low around 1.2680 and a break of which will weaken 1.2625 support and may extended towards 1.2530 areas. The bearish picture remains valid for the rest of the day as there is no sign of starting a corrective wave. Key support at 1.2500 and key resistance at 1.2915.

 

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

GBPUSD : 1.57533 / 1.57539

DAILY WEEKLY MONTHLY

 

 

1.558 | 1.568 | 1.573

1.588 | 1.598 | 1.603

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Bearish

 

 

MARKET ANALYSIS - Intraday Analysis

 

Sterling has entered free-fall territory after achieving a sustained breakout below the uptrend line that carried the movements from 1.5230.Price is being controlled by fundamentals and the strength of the USD. Stochastic are negative which encourages us to keep our bearish scenario intact for the rest of the day while a break below 1.5810 will accelerate. The trading range for today is among key support at 1.5730 and key resistance at 1.6165.

 

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

USDJPY : 79.218 / 79.219

DAILY WEEKLY MONTHLY

 

 

78.917 | 78.412 | 77.683

80.151 | 80.880 | 81.385

 

SUMMARY : Bearish

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The Japanese yen didn’t show any big move since overnight or during the Asian session. Technicals show a bullish scenario for the rest of the day; reaching the 80.50 zones will confirm and accelerate and also will assist RSI to clear the pivotal momentum resistance at the point of 50.00. The trading range for today is among key support at 78.80 and key resistance now at 81.75.

 

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

[alayoua]

Dear Members,

Please note that the Film link has been updated.

Thanks for your interest.

[whitebty]

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[alayoua]

Daily Forex Market by FXCC 30Mai2012

 

Daily Forex Market by FXCC 30Mai2012

 

Euro breaks below 1.25 on Spanish downgrade

 

Equities traded higher today, with US and Canadian markets rallying on news that China might undertake meaningful fiscal stimulus. While industrial metals stocks rallied with the base metals complex, gold stocks fell by 2.4% and gold fell 1.7%. Industrial companies led the way in the US, with the Industrial Engineering subsector appreciating 1.9% while the S&P 500 was up by 0.87%. In short, the ‘China trade’ was in full swing today at least as far as equity markets in Canada and the US was concerned.

 

While stocks were up, the US dollar was not down: the US dollar index is now trading at its highest level since last September. The Euro broke below the 1.25 EURUSD level mid-day and stayed there for most of the afternoon before rallying back to the 1.25 level at the close. EURUSD continues to make new intraday lows for 2012.

Read More

https://support.fxcc.com/email/technical/30052012/

 

UPCOMING EVENTS :

2012-05-30 08:30 GMT | UK - Consumer Credit (Apr)

2012-05-30 08:30 GMT | UK - Mortgage Approvals (Apr)

2012-05-30 09:00 GMT | European Monetary Union - Consumer Confidence

2012-05-30 14:00 GMT | US - Pending Home Sales (MoM) (Apr)

 

FOREX NEWS :

2012-05-30 01:39 GMT | Australia: s.a. Retail Sales fall 0.2% in April

2012-05-30 01:33 GMT | Australia Retail Sales s.a. (MoM) -0.2% in Apr

2012-05-30 01:01 GMT | EUR/USD threatening to break lower

2012-05-30 00:06 GMT | USD/JPY sits around 79.50 amid BoJ headlines

 

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

EURUSD : 1.24581 / 1.24586

DAILY WEEKLY MONTHLY

 

 

1.2620 | 1.2590 | 1.2539

1.2483 | 1.2458 | 1.2386

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The EUR trading pattern appears to be repeating itself day after day. The middle chart suggests that EUR rallies during the Asian session and into the early European session, but then fails and trends lower to close both the European and North American sessions lower than the open. This suggest some buying in, but a shift In terms of technical levels, supports are seen at 1.2495/83 and then at 1.2386. On the other hand, resistance levels are seen at the 10DMA line at 1.2539, 1.2590 and then at 1.2620. The value of the RSI indicator is negative and steady; MACD is negative and holding, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.

 

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

GBPUSD : 1.55832 / 1.55844

DAILY WEEKLY MONTHLY

 

 

1.5805 | 1.5746 | 1.5676

1.5605 | 1.5553 | 1.5497

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The GBP will target the 1.5805 level, low with a violation allowing for more weakness towards the 1.5642/53 levels. A breach of this if seen will aim at the 1.5497 level. RSI is bearish and pointing lower supporting this view. The alternative scenario is for the pair to halt its weakness and then return above its trendline. This will target the 1.6180. On the whole, the pair continues to hold on to its downside pressure having violated its rising trendline.

 

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

USDJPY : 79.333 / 79.337

DAILY WEEKLY MONTHLY

 

 

80.96 | 80.57 | 80.00

79.32 | 78.86 | 78.33

 

SUMMARY : UP

TREND : Upward penetration

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The market is making lower highs, and higher lows, reflecting a slowing of volatility. The RSI has resorted to the 40-60 range, reflecting consolidation momentum. Also the moving averages are converging together suggesting that the market has been clueless in which direction to take in the 1H time-frame. Giving us the classic congestion breakout, which doesn't always translate into a strong directional clue, but in the short-term, we can be seeing some growth of volatility after the convergence and retest of consolidation highs or low. To the topside, the 80-80.10 area is the very short-term resistance, while the 79.00 area is the support. We are trading in the middle near 79.50.

 

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

[alayoua]

Daily Forex Market by FXCC 31Mai2012

 

Daily Forex Market by FXCC 31Mai2012

 

Spain becoming a major financial problem

 

News out of Europe was highly confusing. One day after unnamed European officials were quoted in the financial press officially denying the possibility that collective European funds would be used to bail out Spanish banks, the European Commission publicly “envisaged” the possibility of a European banking union and direct capital injections into troubled European lenders. Rather than giving markets cause to believe that rescue is imminent, the entire episode points to the reality, seriousness, and immediacy of the problems confronting the European economy – something which markets shrugged off during Q1 2012. Markets may have spent most of the first part of this year weighing whether US jobs were growing at a pace of 200k or 250k per month and whether the S&P 500 should trade above or below the 1400 level, but the focus is now on more ominous issues: the financial crisis in Spain and the cooling of the economy in China, with a healthy dose of concern that a left-wing Greek government might hit the ‘euro exit’ panic button.

 

Unsurprisingly, on a day during which cash was king, the USD outperformed. EURUSD closed at 1.237 after convincingly breaking through the 1.25 level yesterday. The commodity currencies followed suit, with CAD losing ground and USDCAD closing the day at 1.03.

Read More

https://support.fxcc.com/email/technical/31052012/

 

UPCOMING EVENTS :

2012-05-31 09:00 | European Monetary Union - Consumer Price Index

2012-05-31 12:15 | US - ADP Employment Change

2012-05-31 12:30 | CAD - Current Account

2012-05-3112:30 | US - Gross Domestic Product Annualized

 

FOREX NEWS :

2012-05-31 06:20 GMT | EUR/USD retreats from highs, failed to breach 1.2400

2012-05-31 06:19 GMT | Germany: Retail Sales rise 0.6% in April

2012-05-31 06:13 GMT | Asian markets followed western fall

2012-05-31 06:03 GMT | Germany Apr Retail Sales (YoY) falls 3.8%

 

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

EURUSD : 1.23942 / 1.23946

DAILY WEEKLY MONTHLY

 

 

1.2573 | 1.2528 | 1.2449

1.2325 | 1.2280 | 1.2201

 

SUMMARY : Oversold

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

The next major EUR support level is 1.2152, followed by the 2010 low of 1.1877. The market is notably one sided and shorts are at extreme levels, opening up the risk of short covering on any hint of an official response; however the bias remains to the downside, and accordingly we expect a temporary test of 1.2152. Technical indicators remain bearish, with major signals still in sell territory even as RSI enters oversold.

 

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

GBPUSD : 1.54878 / 1.54888

DAILY WEEKLY MONTHLY

 

 

1.5743 | 1.5684 | 1.5579

1.5415 | 1.5356 | 1.5251

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technicals are bearish, with major signals still in sell territory; next level is 1.5235. The near‐term risk for GBP is a test down through the psychological 1.55, followed by a move to the ytd low of 1.5235. However, once risk aversion passes, the outlook for GBPUSD is relatively positive, partially on the flows generated from its Triple‐A rating. Supports are seen at 1.5531/17 and then at 1.5415. On the other hand, resistance levels are seen at the 10-DMA line at 1.5713/35 and then at 1.5850.

 

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

USDJPY 78.837 / 78.839

DAILY WEEKLY MONTHLY

 

 

80.04 | 79.77 | 79.25

78.47 | 78.19 | 77.68

 

SUMMARY : Neutral

TREND : Neutral

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

As risk aversion rises on the back of an escalation in the European crisis, USDJPY continues to trend lower, testing the psychologically important 79.00 level. Technicals are bearish but are beginning to become mixed, but trend is lower. Supports eyed at 78.56, which is the 200-DMA line. On the other hand, resistance levels are seen at 79.16/36 and then at the 21-DMA line at 79.72.

 

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

[alayoua]

Daily Forex Market by FXCC 01Jun2012

 

Daily Forex Market by FXCC 01Jun2012

 

Spain contradicts the ECB, the EU, and the IMF

 

Equity markets in North America were mixed today with US equities flat while Canadian equities came in moderately positively (+0.72%). The catalyst in Canada was strong bank earnings: Canadian financial companies posted strong earnings over the past week and the sector rebounded accordingly today. Canadian financials were up by 1.55% (banks by 1.9%) while US financials were up by a more modest 0.85% (banks by 1.4%). Oil and Gas stocks held up moderately well in Canada (+0.11%) considering that WTI for delivery in July sold off by 1.4% and is currently trading at US$86.58/bbl.

 

Europe is clearly taking center stage at the moment, with headline like the FT website’s banner “Spain Reveals €100bn Capital Flight” garnering deserved attention (the details of the Banco De Espana study cited by the FT are slightly less bad: the capital flight occurred during Q1. But that leaves open the question ‘how much capital fled in Q2?’). With Europe gaining so much media space, we thought it might be worth turning the reader’s attention to data released in the US today which might have been overlooked – which were unfortunately rather bleak.

Read More

https://support.fxcc.com/email/technical/01062012/

 

UPCOMING EVENTS :

2012-06-01 07:58 GMT | EU - Purchasing Manager Index Manufacturing

2012-06-01 08:28 GMT | UK - Purchasing Manager Index Manufacturing

2012-06-01 09:00 GMT | EU - Unemployment Rate

2012-06-01 12:30 GMT | US - Nonfarm Payrolls

 

FOREX NEWS :

2012-06-01 05:49 GMT | EUR/USD flat, eyes on EU PMI

2012-06-01 04:43 GMT | GBP/USD inches back to down, focus on BoE

2012-06-01 04:27 GMT | EUR/USD below 1.2350 ahead of Irish vote count

2012-06-01 03:58 GMT | No longer favouring USD/JPY longs - Standard Chartered

 

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

EURUSD : 1.23517 / 1.23521

DAILY WEEKLY MONTHLY

 

 

1.2513 | 1.2471 | 1.2407

1.2301 | 1.2259 | 1.2195

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

EUR is oversold (RSI = 23) and the market is extremely one sided, leaving the currency vulnerable to short covering. Still the downward trend is strong (not to mention expensive to fight) and accordingly trading with the trend is likely the only near‐term alternative. Technical indicators are bearish, major signals still in sell territory and downward trend strong. Ignore RSI. Supports are seen at the 21-DMA lower Bollinger level at 1.2305 and then at 1.2190. On the other hand, resistance levels are seen at 1.2460, 1.2572 which is the 10-DMA line.

 

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

GBPUSD : 1.53864 / 1.53873

DAILY WEEKLY MONTHLY

 

 

1.5647 | 1.5587 | 1.5481

1.5315 | 1.5255 | 1.5149

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

Signals continue to be bearish, major signals in sell territory; a close above 1.5641 would be a warning. Supports are seen at 1.5419/15 and then at 1.5327. On the other hand, resistance levels are seen at 1.5637 and then at 1.5671 which is the 10-DMA line.

 

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

USDJPY : 78.449 / 78.453

DAILY WEEKLY MONTHLY

 

 

79.509 | 79.207 | 78.810

78.113 | 77.811 | 77.415

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

USDJPY continues to trend lower, data was mixed and even with USDJPY below 79.00, the BoJ and MoF appear to only be watching; however support at the 200‐day 78.63 looms. Technicals all read bearish, major signals in sell territory and strong downward trend. The USD trended lower throughout the session and fell below the key 200-DMA line at 78.63. In terms of technical levels, supports are seen at 78.30/18, while resistance levels are noted at 79.13, then at the 10-DMA line at .79.38

 

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

[alayoua]

Daily Forex Market by FXCC 04Jun2012

 

Daily Forex Market by FXCC 04Jun2012

 

Asian markets fall on worries of the EU

 

In the week ahead, the global markets will continue to gyrate between fear of Greece’s fallout from the Euro zone and hopes of austerity measures that may revive the global markets. The European Union is targeting July 9 as the start date for its permanent eurozone rescue fund, the €500 bn (USD620 bn) European Stability Mechanism. Parliaments across the 17-nation currency union must ratify the fund before it becomes available to counter the financial crisis spawned in Greece.

 

Until it receives 90% of its expected capital allotment, officials must turn to the temporary European Financial Stability Facility, a €440 bn fund with €240 bn available. Even Italy might be seen pressurizing the ECB to print more Euros so that Italy can also be saved. So we think these measures will be following suit that will eventually decide the fate of the markets in the times to come.

Read More

https://support.fxcc.com/email/technical/04062012/

 

UPCOMING EVENTS :

2012-06-04 07:00 GMT : UK - Halifax House Prices

2012-06-04 08:30 GMT : EMU - Sentix Investor Confidence

2012-06-04 09:00 GMT : EMU - Producer Price Index

2012-06-04 14:00 GMT : US - Factory Orders

 

FOREX NEWS :

2012-06-04 01:45 GMT : US Dollar rules as HK tracks risk off sentiment

2012-06-04 01:32 GMT : Australia May ANZ Job Advertisements -2.4%

2012-06-04 00:16 GMT : USD/JPY spikes; Threat of BoJ intervention

2012-06-03 23:50 GMT : Japan: Monetary Base (YoY) (May): 2.4%

 

 

EURUSD : 1.24134 / 1.24140

DAILY WEEKLY MONTHLY

 

 

1.2496 | 1.2470 | 1.2437

1.2378 | 1.2352 | 1.2319

 

SUMMARY : Sideway

TREND : Sideway

MA10 : Bearish

MA20 : Bearish

STOCHASTIC Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

The EURUSD has dropped to its lowest level since July 2010. Interestingly, the low today is within pips of the 2008 (October) low. The sharp moderation warns that the EURUSD could consolidate or bounce modestly in the coming days, but the overall trend remains clear in our opinion and we favor continued declines until sentiment sees a more significant shift. The next support isn’t until 12150. Resistance is now around 125.00 although the breakdown level (January low) of 126.22 (and this week’s high) would be ideal to short into if reached.

 

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

GBPUSD : 1.53699 / 1.53710

DAILY WEEKLY MONTHLY

 

 

1.5418 | 1.5397 | 1.5383

1.5348 | 1.5327 | 1.5313

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

 

 

MARKET ANALYSIS - Intraday Analysis

 

The market is heavily oversold, so some kind of a recovery may be expected early this week. If such a recovery indeed takes place, we may see gains to 1.5680 levels. Such a rally will likely be favored as selling opportunities by the big players, because the daily trend is down. On the downside, firm break below 1.5260/30 may bring a panic sell-off all the way down to 1.50000. There was no bounce of course (the GBPUSD didn’t even reach its 10 day average) and the GBPUSD took out nearly all of 2012’s gains in May and has reached the trendline that extends off of the 2009 and 2010 lows so we could get a bounce from these levels. If so, then resistance is 15530. A bounce into there would be a candidate to short against 15720.

 

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

USDJPY 78.182 / 78.183

DAILY WEEKLY MONTHLY

 

 

78.715 | 78.555 | 78.350

78.005 | 77.805 | 77.615

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

 

 

MARKET ANALYSIS - Intraday Analysis

 

The USDJPY continues to slip and has reached the much discussed 7830 (resistance throughout late 2011). There is nothing to suggest that a low is in place right now and the next level of support is 7780. I’d be willing to try longs on a test and rebound from that level with an initial stop (plan on moving it up) below 7600. The chart shows trending conditions are quite negative here. The prices have not overcome the 83.80 level yet on a sustained basis and remain below the declining 100-week moving average. So, the main focus should be considered on the downside. Look for a possible move down from the 2007 top and if that's the case, the current pullback should hold above the 76.00 level. A subsequent move above 83.80 will turn the hourly chart quite bullish.

 

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

[alayoua]

Daily Forex Market by FXCC 05Jun2012

 

Daily Forex Market by FXCC 05Jun2012

 

G7 calls for an emergency conference call to discuss the EU crisis

 

The Queens Jubilee finds UK markets closed for a four day holiday, rumors of a master plan for Europe and significant central bank risk with ECB, BoE, BoC and testimony by Chair Bernanke later this week are the themes that are driving markets. Friday’s rally in gold speaks volumes about how the weak US employment report has triggered expectations for the Fed to announce QE3. On Monday the USD weakened as the euro climbed. It was a day thin on eco data and the news flow was light also. The main events were Spain, Italy and Greece. S&P made book on a Greek exit them a 1-3 chance of leaving the euro.

 

The G7 Finance Ministers have agreed to hold an emergency conference call to discuss the eurozone crisis, in particular Spain. The EU leadership seems to be drawing lines in the sand, as Merkel refuses to accept eurobonds or joint debt without fiscal control. There will be a battle brewing here. In a surprise move a director from the PBOC said that China would assist in buying euro debt to help ease the crisis.

Read More

https://support.fxcc.com/email/technical/05062012/

 

UPCOMING EVENTS :

2012-06-05 07:58 GMT : EMU - Purchasing Manager Index Services

2012-06-05 09:00 GMT : EMU - Retail Sales

2012-06-05 10:00 GMT : Germany - Factory Orders

2012-06-05 14:00 GMT : US - ISM Non-Manufacturing

 

FOREX NEWS :

2012-06-05 04:37 GMT : RBA slashes rates by 25 basis points to 3.50%

2012-06-05 02:30 GMT : China HSBC China Services PMI 54.7 in May

2012-06-05 01:31 GMT : Australia Current Account Balance -14.9B in 1Q

2012-06-05 01:25 GMT : USD/JPY dips towards 78.00 well supported

 

 

EURUSD : 1.25226 / 1.25228

DAILY WEEKLY MONTHLY

 

 

1.2719 | 1.2630 | 1.2576

1.2433 | 1.2344 | 1.2290

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Signals are mixed, struggling to make a bullish turn, significant resistance lies at 1.2500. EUR/USD It has an intraday support at 1.2410 and resistance at 1.2530. Daily indicators are all showing red/sell. MA short terms read buy but longer term give sell signals. RSI and Stochastic as well as MACD are sell with StochRSI showing overbought. Technicals are all giving mixed signals.

 

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

GBPUSD : 1.53946 / 1.53955

DAILY WEEKLY MONTHLY

 

 

1.5478 | 1.5447 | 1.5419

1.5360 | 1.5329 | 1.5301

 

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technicals remain bearish ‐ RSI off sub‐20 low suggests potential for pause; Jan 2012 low is at 1.5235. GBP/USD can give a rise up to 1.5405 thus traders can buy on dips but overall selling on rise is recommended for the day. It has a good support at 1.5250 and resistance at 1.5465. Expected intraday range is 1.5260 - 1.5405.

 

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

USDJPY : 78.423 / 78.427

DAILY WEEKLY MONTHLY

 

 

78.950 | 78.682 | 78.505

78.065 | 77.803 | 77.625

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

 

 

MARKET ANALYSIS - Intraday Analysis

 

Watch for the USDJPY to grind even lower toward its last support areas just above 78.00, but important support is already slightly above these levels at the 200-day moving average around 78.60 and the chart is also showing so-called “triple divergence”, in which a third new low has been set while a momentum indicator like the MACD continues to creep higher at each new low. This suggests a consolidation could be in order in the nearest term.

 

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

[alayoua]

Daily Forex Market by FXCC 07Jun2012

 

Daily Forex Market by FXCC 07Jun2012

 

US Fed Beige Book shows “moderate” recovery

 

Globally, US markets and major European markets closed sharply higher amid optimism about further stimulus from the world's central banks. The optimism came from the European Central Bank’s (ECB) decision to leave interest rates unchanged as expected and following the Reserve Bank of Australia's interest rate cut on Tuesday. Further, ECB president also stated that the central bank stands ready to act if the economic situation continues to worsen. The sentiments were boosted further following the release of the Fed's Beige Book report, which said overall economic activity expanded at a moderate pace during the reporting period from early April to late May.

 

Yesterday, the US Fed presented the Beige Book report, which reviews the overall US economy the report showed that the U.S. economy has continued to grow at a “moderate” pace over the past two months, with only one district reporting slower growth, the Federal Reserve said Wednesday in its latest reading of economic conditions. The Fed has used the phrase “moderate” in one way or another to describe the economy in every Beige Book report since last fall.

Read More

https://support.fxcc.com/email/technical/07062012/

 

 

UPCOMING EVENTS :

2012-06-07 08:28 GMT : UK - Purchasing Manager Index Services

2012-06-07 11:00 GMT : UK - BoE Interest Rate Decision

2012-06-07 11:00 GMT : US - Initial Jobless Claims

2012-06-07 14:00 GMT : US - Fed's Bernanke testifies

 

FOREX NEWS :

2012-06-07 04:13 GMT : EUR/USD quiet below 1.2600 ahead FED Bernanke testifies

2012-06-07 03:49 GMT : GBP/USD consolidating below 1.55 ahead of MPC

2012-06-07 02:04 GMT : Aussie powers up after surprising jobs data

2012-06-07 01:31 GMT : Australia May Employment Change s.a. 38.9K

 

 

EURUSD : 1.25638 / 1.25642

DAILY WEEKLY MONTHLY

 

 

1.2760 | 1.2673 | 1.2618

1.2475 | 1.2387 | 1.2332

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The euro has dropped from its short term 76.4 Fib level at 1.2546 and looking a bit overstretched short term but medium-term charts have turned bullish. Buyers will hold longs unless a break below 1.2400 occurs. Only then will there be another assault on the downside with 1.2350 once more coming under pressure. There is quite a lot of resistance on the topside at 1.2523/25 to 1.2545 but the medium-term charts are poised for a break above 1.2550 and move into a market rally looking at 1.2620.

 

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

GBPUSD : 1.54741 / 1.54750

DAILY WEEKLY MONTHLY

 

 

1.5574 | 1.5528 | 1.5495

1.5452 | 1.5425 | 1.5365

 

SUMMARY : Up

TREND : Up trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

At present the fib level is at 1.5438 and looking a little overextended on the topside of the 60-minute charts. Therefore look for the market to find a short-term top here. However, if it fails we may see 1.5460 through to 1.5495 as the next challenge. Medium-term charts remain neutral-to-oversold.

 

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

USDJPY : 79.402 / 79.407

DAILY WEEKLY MONTHLY

 

 

80.189 | 79.727 | 79.470

78.959 | 78.665 | 78.344

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The pair is aiming to 79.470. Once this level is broken the pair will rise to 79.707. Currently the pair is at 0.79.35 a breakdown here, look for the retracement to the 0.382 Fibonacci at 78.66. Our upside target is the -0.270 Fibonacci extension at 79.72 but look for strong resistance at 79.707

 

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

[alayoua]

Daily Forex Market by FXCC 08Jun2012

 

Daily Forex Market by FXCC 08Jun2012

 

This has been a busy week for central Banks around the Globe

 

The US markets ended mixed on Thursday after seeing early strength. The initial strength on Wall Street was partly on account of a positive reaction to news of a surprise interest rate cut by China's central bank. The markets also benefited from the release of a report showing a decline in initial jobless claims in the week ended June 2. However, stocks pulled back well off their highs as Federal Reserve Chairman Ben Bernanke began to testify before the Joint Economic Committee in Washington. While the Dow increased by 46.2 points or 0.4% to 12,461.0, the Nasdaq fell 13.7 points or 0.5% to 2,831.0 and the S&P 500 edged down 0.1 points to 1,315.0 Bernanke says Federal Reserve stands ready to act to protect the financial system and economy in the event that financial stresses from the European crisis escalate. However, the testimony to congress didn’t contain explicit cues about whether further easing is coming soon.

 

Spain sells € 2.07 bn of bonds; tops target Spain saw borrowing costs rose (at an average yield 6.04% up from 5.74% in previous sale) in a closely-watched 10-yr debt auction, selling a total of € 2.07bn. Spain's Treasury had aimed to sell a total of € 1 bn to €2 bn of debt. Initial weekly U.S. jobless claims fell to 377,000 The no. of initial applicants filing for unemployment benefits declined in the week ended June 2, but jobless claims remained at a level consistent with mediocre hiring trends. First-time claims fell by 12,000 to 377K from a revised claim of 389K. China’s PBOC cuts interest rates by 25bps China's central bank lowered its benchmark loan and deposit rates by 25bps each to 6.31% and 3.25% respectively and moved to allow rates to float more freely, in a bid to support economic growth.

Read More

https://support.fxcc.com/email/technical/08062012/

 

UPCOMING EVENTS :

2012-06-08 08:30 GMT | UK - Producer Price Index

2012-06-08 12:15 GMT | CANADA - Housing Starts

2012-06-08 12:30 GMT | US - Trade Balance

2012-06-08 12:30 GMT | CANADA - Unemployment Rate

 

 

FOREX NEWS :

2012-06-08 02:41 GMT | EUR/USD at session lows as risk tolerance contracts

2012-06-08 01:39 GMT | AUD/USD breaks 0.9850 after Aus trade balance

2012-06-08 01:36 GMT | Australia: Trade deficit at $203m in April

2012-06-08 00:00 GMT | Japan: Economy grew stronger than expected in Q1

 

 

EURUSD : 1.24950 / 1.24956

DAILY WEEKLY MONTHLY

 

 

1.2707 | 1.2667 | 1.2594

1.2481 | 1.2441 | 1.2368

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The pair has retreated from the 1.2620 area. The 1.2540 level will be a key pivot, below the trendline near 1.25. A break below 1.25 will suggest completion of a consolidation pattern, which could be seen as a flag. The break below can open up June’s low in the 1.2285-1.23 area. Failure to break below 1.2540 followed by a push back above the pre-Bernanke high at 1.2620 opens up the 1.2820 level. This is the 200-SMA in the 4H chart and also a resistance pivot from May 22.

 

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

GBPUSD : 1.54644 / 1.54653

DAILY WEEKLY MONTHLY

 

 

1.5753 | 1.5677 | 1.5583

1.5413 | 1.5337 | 1.5243

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

In terms of technical levels, supports are seen at 1.5430/16 and then at 1.5375. On the other hand, resistance levels are seen at 1.5608/37 and then at 1.5664. The pair continued consolidating around 76.4% Fibonacci while Stochastic remained positive suggesting further upside actions. A break above 1.5515 will confirm and accelerate the bullish scenario mainly targeting 61.8% level. Only a break below 1.5360 will negate and give a reason for pause.

 

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

USDJPY : 79.190 / 79.193

DAILY WEEKLY MONTHLY

 

 

80.220 | 80.000 | 79.640

79.080 | 78.875 | 78.520

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

The trading range for today is among key support at 77.60 and key resistance now at 80.00. The general trend over short-term basis is to the upside targeting 81.45 as far as areas of 77.20 remain intact. The pair has successfully broken out of the falling channel since March and there is a possibility of a reversal in trend taking shape with more upside to come. It is still a little early to be sure but if the price action today closes above the channel then this could constitute a valid break-out and indicate a continuation of the rally higher, with 50 and 100 day MA's at 80.15 targeted initially and possibly 80.75 thereafter.

 

 

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

[alayoua]

Daily Market Review by FXCC June 12 2012

 

Daily Market Review by FXCC June 12 2012

 

Risk Aversion returns as Spanish elation subsides

 

US stock advanced, following the biggest weekly rally in the Standard & Poor's 500 Index this year, as investors speculated that the bailout of Spain's banks will help ease the euro area's debt crisis.European stocks surged to a four- week high after Spain sought as much as €100bn to save its banking system and Chinese export data topped forecasts. The €100bn rescue for Spain's banks moved Italy to the frontline of Europe's debt crisis as an initial rally in the country's bonds fizzled on concern it may be the next to succumb. Investors holding bonds issued by Spain and its banks will probably rank behind official creditors in the queue for payment after the nation asked for a bailout of as much as €100 bn.

 

Asian equities extended the global rally after Chinese data showed exports grew last month at more than double the pace economists estimated. Overseas shipments climbed 15.3% from a year earlier, the customs bureau said yesterday, exceeding all 29 estimates. Japanese stocks rose, with the benchmark Nikkei 225 Stock Average (NKY) capping the biggest gain since April, on speculation a bailout for Spanish banks will ease Europe's debt crisis and after China's trade grew more than expected.

Read More

https://support.fxcc.com/email/technical/12062012/

 

UPCOMING EVENTS :

2012-06-12 08:30 GMT | UK - Industrial Production

2012-06-12 08:30 GMT | UK - Manufacturing Production

2012-06-12 12:30 GMT | US - Import & Export Price Index

2012-06-12 18:00 GMT | US - Monthly Budget Statement

 

FOREX NEWS :

2012-06-12 04:04 GMT | GBP/USD consolidates below 1.5500

2012-06-12 03:39 GMT | USD/JPY spikes to new daily highs

2012-06-12 03:39 GMT | EUR/AUD glued around the 1.2600 line

2012-06-12 01:39 GMT | Australia: Business Confidence declines sharply in May

 

 

EURUSD : 1.24927 / 1.24933

DAILY WEEKLY MONTHLY

 

 

1.2811 | 1.2730 | 1.2613

1.2415 | 1.2334 | 1.2217

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's are mixed, MACD in buy territory, but most others in sell; a close above the 21‐day MA at 1.2584 would be bullish. However EUR risk is increasingly binary. Supports are seen at the 10-DMA line at 1.2488 and then at 1.2435. On the other hand, resistance levels are seen at 1.2554, 1.2690 and then at 1.2820.

 

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

GBPUSD : 1.54905 / 1.54915

DAILY WEEKLY MONTHLY

 

 

1.5685 | 1.5634 | 1.5563

1.5441 | 1.5390 | 1.5319

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's remain mixed but biased to downside, today’s rally faded quickly and failed to break above last week’s high of 1.5601. Support lies at the recent low of 1.5269, a retest is likely. Supports are seen at the 10-DMA line at 1.5467 and then at 1.5375. On the other hand, resistance levels are seen at 1.5538 and then at 1.5601.

 

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

USDJPY : 79.491 / 79.495

DAILY WEEKLY MONTHLY

 

 

80.240 | 79.962 | 79.715

79.190 | 78.910 | 78.665

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

JPY is currently trading at 79.29 levels. After falling against US dollar for last four sessions, Yen is again strengthening against its peers, as the market is expecting Italy to be the next country on the forefront of the debt crisis after Spain. This boosted the demand for the safe haven currency. Overall technical's are reading bearish ‐ the 50‐day has crossed below the 100‐day (80.20 and 80.21, respectively) generating a medium term sell signal; while most other indicators are in sell territory

 

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

[alayoua]

Daily Market Review by FXCC June 13 2012

 

Daily Market Review by FXCC June 13 2012

 

More Downgrades by Fitch as Spanish Bonds Soar

 

US stocks rose on speculation policy makers will do more to stimulate the economy. Commodities dropped for a fourth day and Spanish bonds fell. The advance in US stocks indicated the S&P 500 will rebound following last few days' biggest decline in more than a week. The Fed is scheduled to meet next week and announce its rate decision on June 20. European stocks rose for the first time in three days on speculation that the Federal Reserve will opt for more stimuli and as Lafarge SA targeted cost savings. Italy plans to auction at least €9.5bn of debt this week, while an election on June 17 may determine whether Greece remains in the euro.

 

Spanish bonds slumped for a second day after a European rescue of its banks was announced and Fitch Ratings said the government will miss its budget-deficit targets, casting doubt on Prime Minister Mariano Rajoy's plan to stabilize the economy. Japanese stocks fell as surging bond yields stoked concern a bailout of Spain's banks won't ease Europe's debt crisis. Shares pared losses as the yen halted gains after the International Monetary Fund said the currency is overvalued and urged further monetary easing.

Read More

https://support.fxcc.com/email/technical/13062012/

 

UPCOMING EVENTS :

2012-06-13 09:00 GMT | EMU - Industrial Production

2012-06-13 12:30 GMT | US - Producer Price Index

2012-06-13 12:30 GMT | US - Retail Sales

2012-06-13 12:30 GMT | US - Business Inventories

 

FOREX NEWS :

2012-06-13 04:28 GMT | EUR/USD a tricky day below 1.2500

2012-06-13 04:13 GMT | GBP/USD bracketed between 1.5540/1.5580

2012-06-13 02:50 GMT | NZD/USD gently offered after touching 4-wk high

2012-06-13 02:48 GMT | EUR/NZD breaks below 1.6100 and prints a 7-week low

 

 

EURUSD : 1.24888 / 1.24893

DAILY WEEKLY MONTHLY

 

 

1.2623 | 1.2576 | 1.2537

1.2451 | 1.2404 | 1.2365

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Today's technical's are mixed, MACD in buy territory, but others in sell; EUR risk is increasingly binary. Supports are seen at 1.2435, 1.2375 and then at 1.2310. On the other hand, resistance levels are seen at the 21DMA line at 1.2562 and then at 1.2672.

 

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

GBPUSD : 1.55468 / 1.55471

DAILY WEEKLY MONTHLY

 

 

1.5743 | 1.5666 | 1.5609

1.5475 | 1.5398 | 1.5341

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's are mixed and rangy, it could break out in either direction. However, given the overall bearish trend a break below 1.5445 might be confirmation of a downside breakout to 1.5325. Meanwhile a break higher might be confirmed by a rally above 1.5582 targeting 1.5675. The pair will find supports at the 10DMA line at 1.5443 and then at 1.5404. On the other hand, resistance levels are seen at 1.5582, 1.5601 and then at the 21DMA line at 1.5614. Better risk/reward elsewhere.

 

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

USDJPY 79.659 / 79.665

DAILY WEEKLY MONTHLY

 

 

80.115 | 79.905 | 79.775

79.440 | 79.230 | 79.100

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

The 50‐day MA has crossed below the 100‐day (80.14 and 80.23, respectively),which is typically a medium term sell signal. However, if risk aversion is beginning to abate, which increasingly it appears to be doing, then the outlook for USDJPY will shift higher. Currently it has reached near the highs at 79.50. It may have completed its move higher and be on the way back down to the bottom of the range at 79.20. There is the possibility of a breakout after the consolidation move has completed. The pair has already broken out of a descending channel on the daily chart and further upside is possible despite waning momentum, with 80.20 targeted higher.

 

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

[alayoua]

Daily Market Review by FXCC June 14 2012

 

Daily Market Review by FXCC June 14 2012

 

Greek Elections coming soon, Spain downgraded three notches

 

A day after global rating agency S&P cautioned India could lose its investment-grade credit rating due to political inaction. Data yesterday showed industrial expansion in April had barely managed to be in the positive zone, growing just 0.1% in the first month of the financial year, despite a not-so-high base of 5.3% growth in April 2011. In March, industrial output had contracted 3.15% US stocks dropped, indicating the Standard & Poor’s 500 Index already pared Tuesday’s rally, as investors await a got bearish on report that showed retail sales declined last month. The S&P 500 has dropped 6.7% from this year’s high on April 2 as Greece’s political parties failed to form a government, increasing the likelihood the nation won’t meet its debt obligations and forcing it to leave the Euro area.

 

Spain and Italy appealed to European policy makers to step up their response to the financial crisis after a €100bn (USD125bn) lifeline for Spanish banks failed to calm markets. European stocks declined as borrowing costs increased at debt auctions by Germany and Italy and as investors awaited a report on American retail sales. Merkel is stepping up her calls for closer “fiscal union” in Europe to tackle the debt crisis at its roots. Greek elections in four days threaten to herald the first expulsion of a country from the 17-nation currency union. China’s stocks rose, driving the benchmark index to its biggest gain in a month, on speculation the government will ease monetary policy and increase spending for infrastructure to stem the slowdown in the economy.

Read More

https://support.fxcc.com/email/technical/14062012/

 

UPCOMING EVENTS :

2012-06-14 08:00 GMT | EMU - ECB Monthly Report

2012-06-14 09:00 GMT | EMU - Consumer Price Index

2012-06-14 13:00 GMT | US - Consumer Price Index

2012-06-14 20:00 GMT | UK - BoE's Governor King Speech

 

FOREX NEWS :

2012-06-14 04:39 GMT | Japan Apr Capacity Utilization down (1.9)% from March

2012-06-14 04:32 GMT | Japan Apr Industrial Production (MoM) declines to -0.2% vs 1.3%

2012-06-14 04:10 GMT | GBP/USD bid above 1.5500

2012-06-14 03:14 GMT | Yen, the only true safe haven currency - HSBC

 

 

EURUSD : 1.25733 / 1.25739

DAILY WEEKLY MONTHLY

 

 

1.2753 | 1.2682 | 1.2627

1.2501 | 1.2430 | 1.2375

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's remain mixed with a limited range and lack of agreement among technical indicators suggests no trend in the near term. Trend supports are seen at 1.2443/35 and then at 1.2410. On the other hand, resistance levels are seen at 1.2553, which is the 21-DMA line and then at the key 1.2600 level.

 

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

GBPUSD : 1.55159 / 1.55168

DAILY WEEKLY MONTHLY

 

 

1.5679 | 1.5639 | 1.5583

1.5487 | 1.5447 | 1.5391

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's are bullish and has reached the 23.6% Fibonacci retracement level (1.5576) of the May decline In terms of technical levels, Trend supports are seen at the 10-DMA line at 1.5460 and then at 1.5454. On the other hand, resistance levels are seen at 1.5590, 1.5601 and then at 1.5637.

 

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

USDJPY : 79.433 / 79.436

DAILY WEEKLY MONTHLY

 

 

80.168 | 79.960 | 79.707

79.245 | 79.038 | 78.785

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Oversold

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's continue to be mixed with movement bound between 79.00 an 80.00 illustrates lack of a defined trend. Trend supports are seen at 79.17 and then at 79.00. On the other hand, resistance levels are seen at 79.22 and then at the key 80.00 level.

 

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

[alayoua]

Daily Market Review by FXCC June 15 2012

 

Daily Market Review by FXCC June 15 2012

 

Countdown to the Greek Elections and the Future of the Euro

 

The Asian regions stocks are gaining on Friday morning on hopes that Central banks of the world would offer stimulus if Greece decides to exit the Euro zone. Investors are putting in money ahead of the major events over the weekend mainly the Greek Vote. The SGX Nifty is trading higher by 24 points, tracking other peers. On the economic front, from the Euro-zone, we have the Euro-Zone Trade Balance which is expected to decrease to 4.2Bn from a previous reading of 4.3Bn and could put pressure on the euro. From the US, Empire Manufacturing will be closely watched. It's expected to come in lower at 13.5 and could affect the dollar negatively in the evening session.

 

The big news of the day is a news from the G20 that there is a plan to coordinate action between global central banks, to work in unison, if needed after the Greek elections. Also in the UK George Osborne announced a plan to pull together the government and the BoE to build a cohesive action to stimulate growth and lending in England.

Read More

https://support.fxcc.com/email/technical/15062012/

 

UPCOMING EVENTS :

2012-06-15 06:50 GMT | EMU - ECB President Draghi's Speech

2012-06-15 06:50 GMT | UK - Trade Balance

2012-06-15 09:00 GMT | EMU - Employment Change

2012-06-15 13:00 GMT | US - Net Long-Term TIC Flows

 

FOREX NEWS :

2012-06-15 04:56 GMT | USD/JPY extends decline to 78.80

2012-06-15 04:28 GMT | GBP/USD sits around 1.5550 ahead of Europe

2012-06-15 04:21 GMT | EUR/USD holds above 1.2600

2012-06-15 03:06 GMT | BoJ: No alteration to its easing program

 

 

EURUSD : 1.26324 / 1.26328

DAILY WEEKLY MONTHLY

 

 

1.2786 | 1.2717 | 1.2680

1.2574 | 1.2505 | 1.2468

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's and signals are mixed, likely to be within range over next 48-hours. The pair broke through the 1.26 price. Stochastic remains positive but is close to overbought territories but staying below the pivotal resistance of 1.2650 leave the pair stuck in neutral. A break back below 1.2500 will bring additional losses but a closing above 1.2630 will interrupt the main bearish trend. The trading range for today is among key support at 1.2360 and key resistance at 1.2790.

 

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GBPUSD : 1.55415 / 1.55424

DAILY WEEKLY MONTHLY

 

 

1.5676 | 1.5620 | 1.5584

1.5492 | 1.5436 | 1.5400

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's are mixed - movement remains bound between support at 9 day MA (1.5481) and resistance at the 21 day MA (1.5578). Stochastic is pushing the overbought areas. A drop below 1.5480 will bring further downside actions. The trading range for today is among key support at 1.5230 and key resistance at 1.5730.

 

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USDJPY : 78.860 / 78.866

DAILY WEEKLY MONTHLY

 

 

80.015 | 79.767 | 79.313

78.612 | 78.365 | 77.915

 

SUMMARY :

TREND : Up trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's and signals are mixed - movement continues to be bound within a narrow range as indicators remain indecisive and contradictory RSI 14 started to show a sign of bearish tendency but trading remains stable above the key support level of 61.8% Fibonacci level. A break above 79.80 may fix the sign on RSI; whilst taking 78.80-78.70 will be a negative scenario. The trading range for today is among key support at 78.20 and key resistance now at 80.75.

 

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

[alayoua]

Daily Market Review by FXCC June 19 2012

 

Daily Market Review by FXCC June 19 2012

 

Euphoria over Greece turns to Anxiety over Spain

 

It didn’t take much time for the euphoria over the Greek elections to die out, as markets are falling in morning trade. The focus is shifting to the bigger economy of Spain and its ever-growing borrowing costs. Spanish Bond yields ended well above the 7% mark. The SGX Nifty is trading higher by 3 points, tracking other peers.

 

On the economic front, we have the Zew Sentiments from the Euro-zone, which could come in lower and pressurize the euro. From the US, Housing Starts and Building permits are both expected to come in higher and could support the dollar but the main events are the G20 meetings, the FOMC meetings and the EU Summit.

Read More

https://support.fxcc.com/email/technical/19062012/

 

UPCOMING EVENTS :

2012-06-19 08:30 GMT UK - Consumer & Retail Price Index

2012-06-19 09:00 GMT EMU - Construction Output & ZEW Survey

2012-06-19 12:30 GMT US - Building Permits & Housing Starts

2012-06-19 22:45 GMT New Zealand - Current Account

 

FOREX NEWS :

2012-06-19 04:30 GMT EUR/USD above 1.2600 again

2012-06-19 04:20 GMT GBP/USD gently bid ahead of UK CPI data

2012-06-19 03:53 GMT EUR/USD to finish the year substantially above current level - HSBC

2012-06-19 02:30 GMT EUR/JPY sits around 99.50 in quiet session

 

 

EURUSD : 1.26110 / 1.26114

DAILY WEEKLY MONTHLY

 

 

1.2820 | 1.2784 | 1.2744

1.2668 | 1.2632 | 1.2592

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's remain mixed - RSI stalling at 50 suggests waning potential for further upswing ( which was accomplished just a bit ago ) but then the EUR tumbled. At this writing, indicators are moving quickly RSI has moved to neutral and Stochastic shows a buy in the daily reading. MACD daily has moved to sell. In the short term all indicators are reading strong buys. The pair sits around the 1.26 handle. After this we have the psychological barrier, and the correction trendline. A break below this TL, near 1.2520, should be a signal of a bearish continuation, with support in 1.24-1.2410 area.

 

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GBPUSD : 1.56909 / 1.56918

DAILY WEEKLY MONTHLY

 

 

1.5785 | 1.5764 | 1.5732

1.5679 | 1.5658 | 1.5626

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's here are quite mixed with resistance seen at 38.2% Fibonacci retracement (1.5708) of May decline. 1.56 may well be grounds for support. There is a psychological barrier that, if broken, may open up the downside toward 1.5240. Before opening up this low, the near term chart shows that there is a trendline that is near 1.55 we are even more likely opening up the 1.5240 low. Today the pair are expected to be range bound

 

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USDJPY : 78.994 / 78.998

DAILY WEEKLY MONTHLY

 

 

79.760 | 79.533 | 79.365

78.9670 | 78.745 | 78.575

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bearish

MA20 : Bullish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's have become very mixed and even contradictory; near term support seen at 200 day MA (78.75). Short term all point to sell, except for MACD which has reversed to a buy. When we move to daily, the signals have all moved in different directions, there is no support for any decision. MA's all the way out to 200day read sell, MACD reads sell but RSI and Stochastic show neutral. Resistance levels: 79.51 80.37 81.22 and support levels: 78.59 77.62 76.80. The pair reversed its direction at 78.60 and current bias is positive, for a break through 79.50, towards 80.60. Minor intraday support can be spotted at 79.02.

 

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

[alayoua]

Daily Market Review by FXCC June 20 2012

 

Daily Market Review by FXCC June 20 2012

 

Markets eagerly await the FOMC statements later today

 

US markets rose yesterday and ended at five-week highs after upbeat housing data, as the Federal Reserve considered further moves to stimulate the economy. A recent batch of disappointing U.S. economic data such as industrial production, retail sales and jobless claims, has contributed to the optimism about further stimulus to be announced following the conclusion of its two-day monetary policy meeting on Wednesday, along with continued concerns about the impact of the ongoing financial crisis in Europe

 

That good old “risk on” feeling was back in markets, and for a day they traded in a fairly conventional rally pattern. Stocks were up in the US (0.98% on the S&P 500), the Euro rallied against the USD, with EURUSD trading above 1.27 at times during the day, and WTI appreciated by close to a dollar. Today, everything seems to be on hold waiting for the FOMC statements this afternoon. Traders will begin to position themselves prior to the same, but markets seem to have an eerie calm as the day begins.

Read More

https://support.fxcc.com/email/technical/20062012/

 

UPCOMING EVENTS :

2012-06-20 08:30 | UK - Bank of England Minutes

2012-06-20 16:30 | US - Fed Interest Rate Decision

2012-06-20 18:00 | US - FOMC Economic Projections

2012-06-20 18:15 | US - Fed's Monetary Policy Statement and press conference

 

FOREX NEWS :

2012-06-20 04:32 GMT | Japan Apr All Industry Activity Index (MoM) 0.1%

2012-06-20 04:23 GMT | GBP/USD consolidates around 1.5720; BoE Minutes eyed

2012-06-20 04:23 GMT | EUR/USD awaits Greek government coalition below 1.2700

2012-06-20 03:47 GMT | GBP/AUD sits below 1.5450 after overnight dip to 2-mth lows

 

 

EURUSD : 1.26783 / 1.26786

DAILY WEEKLY MONTHLY

 

 

1.2820 | 1.2784 | 1.2744

1.2668 | 1.2632 | 1.2592

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical are very mixed - RSI (sub-50) remains the lone technical holdout, limiting upside. The overall outlook remains bearish, from here we still see room for short-term upside before a fresh lower top is sought out. Supports are seen at the 10-DMA line at 1.2568 and then at 1.2552. Whereas resistance levels are seen at 1.2748 and then at the 55-DMA line at 1.2854.

 

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GBPUSD : 1.57290 / 1.57297

DAILY WEEKLY MONTHLY

 

 

1.5785 | 1.5764 | 1.5732

1.5679 | 1.5658 | 1.5626

 

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's continue to read mixed - resistance near 1.5700 continues to be seen as the GBP is sitting right on the 1.57price line. risks seem tilted to the upside to allow for a necessary short-term corrective bounce after setbacks stalled, look for additional upside towards the 1.5800-1.6000. Supports are seen at the 10-DMA line at 1.5563 and then at the 21-DMA line 1.5559. Whereas resistance levels are seen at the 21-DMA upper Bollinger level at 1.5790 and then at 1.5802.

 

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USDJPY : 78.893 / 78.898

DAILY WEEKLY MONTHLY

 

 

79.760 | 79.533 | 79.365

78.970 | 78.750 | 78.575

 

SUMMARY : Neutral

TREND : Sideway

MA10 : Bearish

MA20 : Bullish

STOCHASTIC : Neutral

 

 

MARKET ANALYSIS - Intraday Analysis

 

Technical's are bearish - decline nearing 200 day MA (78.76); support expected at 78.61. After attempts at recovery the market should continue to break higher, set on a retest and break of the 2012 highs by 84.20 further up. However, at this point, we will need to see a break and close back above 80.00. Supports are seen at 78.61/10 and then at 77.99. Whereas, resistance levels are seen at 79.31/51 and then at 79.75.

 

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