Market Overview by FXCC

alayoua · February 27, 2012

Daily Forex Market by FXCC 27Feb2012

Daily Forex Market by FXCC 27Feb2012

The dollar climbed to its highest level in almost nine months against the yen

In the first hour of Asia-Pacific session the euro rose 0.6 percent to 109.83 yen as of 7:55 a.m. in Tokyo from 109.18 in New York on Feb. 24. The common currency traded as high as 109.91, its strongest level since Oct. 31. It advanced 0.1 percent to $1.3468. The dollar climbed as much as 0.6 percent to 81.67 yen, its highest level since May 31, before trading at 81.55. However, The yen erased its 0.6 percent loss versus the dollar before trading at 81.14 as of 9:35 a.m. Tokyo time from 81.20 on Feb. 24 in New York. GBP/USD opened the Asia-Pacific session at 1.5880 from 1.5896 Friday close in New York; the pair experienced heavy selling interest at 1.5899, dipping to as low as 1.5860.

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URL: https://support.fxcc.com/email/technical/27022012

UPCOMING EVENTS

2012-02-27 07:45 GMT | France Producer Prices (MoM) (Jan)

2012-02-27 9:00 GMT | Italy Business Confidence (Feb)

2012-02-27 9:00 GMT | European Monetary Union M3 Money Supply (YoY) (Jan)

2012-02-27 9:00 GMT | European Monetary Union M3 Money Supply (3m) (Jan)

FOREX NEWS

2012-02-27 05:56 GMT | EUR/USD holds above 1.3440 in Asia-Pacific

2012-02-27 04:29 GMT | GBP/USD range bound between 1.5860/1.5900

2012-02-27 03:59 GMT | EUR/JPY finds ground at 109.00 in Asia

2012-02-27 00:38 GMT | GBP/USD capped below 1.5900

EURUSD : 1.34401 / 1.34411

DAILY WEEKLY MONTHLY

1.3613 | 1.3586 | 1.3542 | 1.3486

1.3377 | 1.3293 | 1.3211 | 1.3139

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD rise on Friday and penetrated successfully our first resistance giving us a profit of 51 pips!! We expect the price to continue its upward move as it is under bullish pressure, but before that we can expect for a correction downwards below 1.3377 (S1) and then to continue upwards. Look for long positions below 1.3377 (S1) with a stop loss at 1.3293 (S2) targeting 1.3486 (R1).

GBPUSD : 1.58567 / 1.58584

DAILY WEEKLY MONTHLY

1.5998 | 1.5969 | 1.5934 | 1.5898

1.5813 | 1.5762 | 1.5700 | 1.5649

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

GBPUSD rise from 1.5700 (S3) and made a sharp move upwards successfully penetrating our first target ending our day with profits (+59 pips)!! After that the price formed a high at 1.5898 (R1) and fell. Now it seems that the pair is moving downwards for a correction towards 1.5813 (S1) and even to our second support at 1.5762 (S2). Look for short positions at current price targeting 1.5813 (S1) and 1.5762 (S2) with a stop loss above 1.5898 (R1).

USDJPY : 81.090 / 81.099

DAILY WEEKLY MONTHLY

83.66 | 82.50 | 81.97 | 81.66

80.78 | 80.42 | 79.88 | 79.35

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY formed a high at 81.66 (R1) profiting on all our targets recommended on Friday's analysis gaining a total of 107 pips!! After that the pair fell and it now seems that it is going to retest 80.78 (S1) soon. A break below that level will be suggesting target at 80.42 (S2) as we are in a correction phase of our uptrend. On the other hand if price manage to break above 81.66 (R1) we will then expect the price to reach 81.97 (R2) and then further rise will then approach towards 82.50(R3). Look for long positions above 80.42 (S2) with a stop loss below 79.88 (S3) targeting second resistance level 81.97 (R2).

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

alayoua · February 28, 2012

Daily Forex Market by FXCC 28Feb2012

Daily Forex Market by FXCC 28Feb2012

The yen finally breaks a seven day decline versus the euro

The yen gained 1.1 percent to 107.99 per euro at 3:20 p.m. New York time after rising 1.8 percent, the most since Nov. 9. It broke a seven-day decline against the common currency, the longest such streak since January 2010. The Japanese currency gained 0.8 percent to 80.52 per dollar after earlier touching 81.67, the weakest since May 31. The euro was 0.3 percent weaker at $1.3411. The pound rose as much as 0.2 percent on Monday to $1.5902, before trading down 0.3 percent at $1.5823. USD/CHF lost momentum falling back below the 0.9000 mark as risk sentiment improved after positive US data, weighing on the Greenback.

Canada’s currency was little changed at 99.90 cents per U.S. dollar at 5 p.m. in Toronto. It's traded on both sides of parity over the past four days, reaching its weakest level of C$1.0050 today and touching its strongest, 99.54 cents, on Feb. 23. The loonie remained above parity on Feb. 21. It gained today versus the majority of its 16 most-traded peers. One Canadian dollar buys $1.0010. Risk sentiment improvement hit the market in mid afternoon on Monday, sending the AUD/USD back above 1.0700 level, to a high of 1.0743.

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URL: https://support.fxcc.com/email/technical/28022012

UPCOMING EVENTS

2012-02-28 07:00 GMT | Germany Gfk Consumer Confidence Survey (Mar)

2012-02-28 10:00 GMT | European Monetary Union Consumer Confidence (Feb)

2012-02-28 10:00 GMT | European Monetary Union Economic Confidence (Feb)

2012-02-28 13:00 GMT | Germany Consumer Price Index (YoY) (Feb) Preliminar

FOREX NEWS

2012-02-28 05:12 GMT | GBP/USD holds bid tone above 1.5800

2012-02-28 04:53 GMT | AUD/USD struggling with the top of the channel

2012-02-28 02:54 GMT | EUR/USD steady above 1.3400

2012-02-28 01:57 GMT | EUR/JPY challenging weekly low on broad-based Yen strength

EURUSD : 1.34428 / 1.34437

DAILY WEEKLY MONTHLY

1.3613 | 1.3586 | 1.3542 | 1.3486

1.3366 | 1.3293 | 1.3211 | 1.3139

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

EURUSD fell and find a strong support at 1.3366 a level that we have recommended using for long positions targeting resistance levels. After the price touched that level it moved upwards gaining successfully another one trading session and confirming our recommendations for long positions at the current support!! Now, it seems that the price is moving upwards and is heading towards the first resistance to retest it again. A break above that level will be suggesting target at 1.3542 (R2) and further rise will be limited to 1.3586 (R3). On the other hand if price manage to stay below 1.3486 (R1) we will then expect the price to retest 1.3366 (S1) and then further decline will then approach towards 1.3293 (S2).

GBPUSD : 1.58456 / 1.58471

DAILY WEEKLY MONTHLY

1.5998 | 1.5969 | 1.5934 | 1.5898

1.5809 | 1.5762 | 1.5700 | 1.5649

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

GBPUSD formed a low at 1.5809 (S1), profiting on our target (1.5813) recommended in yesterday’s analysis gaining a total of 49 pips. After that the price rebounded and now it seems that it is moving upwards to retest our resistance level at 1.5898 (R1) a technical and psychological level. A break above 1.5898 will continue its upward move targeting the next resistance level at 1.5934 (R2). On the other hand, a break below 1.5809 (S1) would suggest a target of 1.5762 (S2) and a further fall will then focus on the next target at 1.5700 (S3).

USDJPY : 80.512 / 80.520

DAILY WEEKLY MONTHLY

82.50 | 81.97 | 81.66 | 80.78

79.88 | 79.35 | 78.97 | 78.19

SUMMARY : Down

TREND : Down trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY recovers after hitting 80.11 just 20 pips from our support line, opening our long positions at 80.40 and failing to hit our yesterday target, profiting only +15 pips. After the price formed a top at 81.66 (R2) a significant technical level, fell and formed a strong support at 80.00 level. A break below that it will indicate a reversal in trend (intraday) as a break above 81.66 (R1) it will indicate the continuation of the uptrend trend line. I recommend staying on the side lines to await a clearer trend direction – No position.

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

alayoua · February 29, 2012

Daily Forex Market by FXCC 29Feb2012

Daily Forex Market by FXCC 29Feb2012

Euro could rise on LTRO expectation

The euro rose 0.5 percent to $1.3458 at 5 p.m. in New York. It added 0.3 percent to 108.29 yen. The dollar weakened 0.2 percent to 80.46 yen. The pound rose 0.5 percent to $1.5901 after reaching $1.5908, the strongest level since Feb. 8. The U.K. currency was little changed at 84.64 pence per euro. USD/CHF consolidated around the 0.8950 zone, cutting back from an earlier high of 0.9000 on Tuesday reaching a session low of 0.8947, recording a 0.45% loss on the day as nearing the end of trading in the New York session.

Canada’s dollar, the loonie, appreciated 0.4 percent to 99.53 cents per U.S. dollar at 5 p.m. in Toronto. The currency, which reached 99.42 cents, the most since Feb. 21, has appreciated 2.6 percent this year. One Canadian dollar buys $1.0047. The Aussie dollar climbed to a new weekly high of 1.0785 on Tuesday, stopping below that level stalling at 1.0764 in New York, circa 10 pips above the previous day’s close, ahead of the much-anticipated liquidity injection (LTRO) in Europe scheduled for announcement on Wednesday.

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URL: https://support.fxcc.com/email/technical/29022012

UPCOMING EVENTS

2012-02-29 08:55 GMT | Germany Unemployment Change (Feb)

2012-02-29 09:30 GMT | United Kingdom Consumer Credit (Jan)

2012-02-29 10:00 GMT | EU - Consumer Price Index (YoY) (Jan)

2012-02-29 10:15 GMT | EU - ECB LTRO auction

FOREX NEWS

2012-02-29 05:02 GMT | Japan Housing Starts (YoY) -1.1% in Jan

2012-02-29 00:37 GMT | Australia: Jan Retail Sales +0.3%, as expected

2012-02-29 00:18 GMT | Australia: New Homes Sales disappoint at -7.3%

2012-02-29 00:02 GMT | UK - Gfk Consumer Confidence steadies at -29 in Feb

EURUSD : 1.34731 / 1.34742

DAILY WEEKLY MONTHLY

1.3613 | 1.3586 | 1.3542 | 1.3486

1.3366 | 1.3293 | 1.3211 | 1.3139

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD after price formed top at 1.3486 (R1), price continued in sideways move between 1.3366 support and resistance at 1.3486. Right now it seems EURUSD is gaining momentum and we can expect probably price will be breaking above first resistance at 1.3486 (R1). Further rise above this level will then focus on 1.3542 (R2) resistance and if EURUSD holds its momentum, rise might be limited at 1.3586 (R3). On the other hand if the price manages to stay below 1.3486 we expect the pair to retest first support and then continue its sideways move.

GBPUSD : 1.59321 / 1.59340

DAILY WEEKLY MONTHLY

1.6029 | 1.5998 | 1.5969 | 1.5937

1.5899 | 1.5809 | 1.5762 | 1.5700

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC: Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD made a sharp move upwards and confirmed our recommendations for long positions hitting successfully the second resistance level ending the day with 40 pips profit. We except the price to continue its upward move as it is under bullish pressure at the moment (both of our MA are bullish) and it seems to be breaking above 1.5937 (R1) a strong technical and psychological level as this level has been retested again in the past (beginning of February) without succeeding to break above it. A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 1.5937 (R1). A stop loss should be placed above 1.5809 (S2).

USDJPY : 80.430 / 80.438

DAILY WEEKLY MONTHLY

82.50 | 81.97 | 81.66 | 80.78

80.00 | 79.35 | 78.97 | 78.19

SUMMARY : Neutral

TREND : Sideway

MA10 : Neutral

MA20 : Bearish

STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

The USDJPY fell from 81.66 (R2) and formed a lower top at 80.78 (R1) after which the price rebounded from 80.00 (S1). A break above the first resistance level of 80.78 (R1) would suggest a target and retest of 81.66 (R2). If the price holds its momentum on the upside we can expect a further rise towards 81.97 (R3). On the other hand, if the price does not manage to break above 80.78 (S1) we can expect the pair to retest support at 80.00 (S1) and a further fall will be limited to 79.35 (S2).

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

alayoua · March 1, 2012

Daily Forex Market by FXCC 01Mar2012

Daily Forex Market by FXCC 01Mar2012

Cable reached a morning session highs after the ECB’s LTRO

The Euro fell to a 1-week low versus the UK Pound following the ECB LTRO operation, which injected €530 billion into the European banking system. EUR/GBP is quoting in the 0.8440 zone, where it's currently showing a 0.2% loss on the day. The euro has dropped 1 percent versus the New Zealand dollar, and has declined 0.7 percent versus Australia’s currency.

The Australian dollar rose 0.6 percent to $1.0834 after climbing to $1.0856, the strongest level witnessed since Aug. 2, 2011. USD/CAD has been edging lower, some 85 pips below parity, at 0.9916

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URL: https://support.fxcc.com/email/technical/01032012

UPCOMING EVENTS

2012-03-01 07:00 GMT | UK - Nationwide Housing Prices n.s.a (YoY) (Feb)

2012-03-01 09:00 GMT | EU - Purchasing Manager Index Manufacturing (Feb)

2012-03-01 09:30 GMT | UK - Purchasing Manager Index Manufacturing (Feb)

2012-03-01 10:00 GMT| EU - Unemployment Rate (Jan)

FOREX NEWS

2012-03-01 05:35 GMT | Australia Feb RBA Commodity Index SDR (YoY) 3.5%

2012-03-01 02:30 GMT | China Feb HSBC Manufacturing PMI improves to 49.6

2012-03-01 00:32 GMT | Australia Jan Building Permits (YoY) -14.6%

2012-03-01 00:31 GMT | Australia Private Capital Expenditure -0.3% in 4Q

EURUSD : 1.33310 / 1.33319

DAILY WEEKLY MONTHLY

1.3613 | 1.3542 | 1.3486 | 1.3424

1.3312 | 1.3211 | 1.3139 | 1.3087

SUMMARY : Down

TREND : Downward penetration

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD after retesting 1.3486 (R2) twice, it did not manage to break above it, as a result to fell yesterday and to made a bottom at 1.3312 (S1).It seems that we are in a correction phase of our uptrend. If it breaks below that level (go short) we can expect the price to retest 1.3211 (S2), a significant strong support level. On the other hand, if the price does not manage to break below 1.3312 (S1) we can expect the pair to retest 1.3424 9 (R1) and further rise will be limited to 1.3486 (R2) a technical and psychological level for the bulls. A proper confirmation for the long positions will be when the price manages to break above 1.3366. A stop loss should be placed below 1.3312 (S1).

GBPUSD : 1.59136 / 1.59148

DAILY WEEKLY MONTHLY

1.6097 | 1.6068 | 1.6029 | 1.5991

1.5871 | 1.5811 | 1.5755 | 1.5649

SUMMARY : Up

TREND : Up trend

MA10 : Neutral

MA20 : Neutral

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD rise and penetrated successfully second resistance and it came close to third(only 7 pips away), confirming our long position towards our target at 1.5969 gaining a small profit (+32 pips)! After forming top above our resistance level at 1.5991 (R1) price begin to fall and was able to come close to our support level at 1.5871 (S1) a significant both psychological and technical level. We expect the price to move further down towards 1.5871 (S1) for a correction. A break below that level it will then retest 1.5811 (S2) and further decline will then be limited to 1.5755 (S3). Look for short positions in today’s trading session with a stop loss above 1.5991 (R1).

USDJPY : 81.059 / 81.067

DAILY WEEKLY MONTHLY

82.93 | 82.50 | 81.97 | 81.66

80.78 | 80.00 | 79.35 | 78.97

SUMMARY : Neutral

TREND : Sideway

MA10 : Bullish

MA20 : Neutral

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

After a successful run since the beginning of February, USDJPY formed a top at 81.66 (R1) and fell creating a strong support level at 80.00 (intraday). Yesterday the price was able to break above 80.78 (S1), retested it, and now is moving above that level. Our recommendation for today’s trading session is we open long positions only when the price breaks above 81.66 (R1). As far as the price is below that level we remain flat until we get a clearer direction of the price.

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

alayoua · March 2, 2012

Daily Forex Market by FXCC 02Mar2012

Daily Forex Market by FXCC 02Mar2012

EU: PLANS TO SLOW DEFICIT-CUTTING PLANS MAY STRETCH TILL JUNE

EUR/USD is currently trading at 1.3297 near recent session lows at 1.3294. With session highs at 1.3331, only 25 minutes after Tokyo opened at 00:00 GMT, the pair has been on the offer since then, losing some -0.27% on the way. On a weekly basis, the EUR/USD is lower by -1.25% since its opening on Monday.GBP/USD is under slight pressure ahead of the European open, having traded a narrow 1.5939-1.5964 margin during the Asia-Pacific session, last at 1.5942 from 1.5953 late Thursday in New York.

After 11th week with local share markets inching higher, NZD/USD is trading at 0.8383, same quotes reached early February, coming from mid Dec last year bouncing from 0.7466 price zone. EUR/AUD after Thursday’s decline to fresh weekly lows in the 1.2300 price zone, has been operating in consolidation mode between 1.2308 and 1.2343 so far in Friday’s Asia-Pacific session.

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URL: https://support.fxcc.com/email/technical/02032012

UPCOMING EVENTS

2012-03-02 00:00 GMT | European Monetary Union EU Economic Summit

2012-03-02 07:00 GMT | Germany Retail Sales (MoM) (Jan)

2012-03-02 09:30 GMT | United Kingdom PMI Construction (Feb)

2012-03-02 10:00 GMT | European Monetary Union Producer Price Index (YoY)

FOREX NEWS

2012-03-02 05:29 GMT | GBP/USD gently offered ahead of European open

2012-03-02 03:30 GMT | EUR/USD still bracketed; holds above 1.3300

2012-03-02 00:54 GMT | USD/JPY pops to 81.30

2012-03-02 00:01 GMT | New Zealand ANZ Commodity Price 0% in Feb

EURUSD : 1.33016 / 1.33023

DAILY WEEKLY MONTHLY

1.3486 | 1.3424 | 1.3366 | 1.3333

1.3280 | 1.3211 | 1.3139 | 1.3087

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

EURUSD fell below our first support and formed a bottom at 1.3280 (S1). After that the price rise and broke above the same level giving us only a small profit of pips. We expect the EURUSD to continue its move downwards and to complete the correction at the level of 1.3211 (S2). A proper confirmation for the short positions will be when the price manages to break below the first support level of 1.3280 (S1). A stop loss should be placed above 1.3333 (R1).

GBPUSD : 1.59415 / 1.59431

DAILY WEEKLY MONTHLY

1.6097 | 1.6068 | 1.6029 | 1.5991

1.5896 | 1.5811 | 1.5755 | 1.5680

SUMMARY : Up

TREND : Up trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

GBPUSD rise and moved closer to the first resistance level of 1.5991 (R1). A break above that level would suggest a target of 1.6029 (R2) and a further rise will then focus on the next target at 1.6068 (R3). On the downside, if the price does manage to stay below current resistance level 1.5991 (R1) we can expect retesting of 1.5896 (S1). A further decline will then bring focus to the next support level at 1.5811 (S2) a strong technical support level. We expect the price to retest first support level and then to move downwards targeting second support level at 1.5811 (S2). Look for short positions in today trading session with a stop loss below 1.5991 (R1).

USDJPY : 81.471 / 81.477

DAILY WEEKLY MONTHLY

83.40 | 82.79 | 82.22 | 81.66

80.78 | 80.00 | 79.35 | 78.93

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

USDJPY broke above our first support of 80.78 (S1) and is approaching towards 81.66 (R1) a strong technical level for the bulls. A break above that level we suggest target of 82.22 (R2). Both of our Moving Averages are pointed bullish and we expect the price to continue its upwards move targeting our support levels. A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 81.66 (S1). A stop loss should be placed below 81.15.

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

alayoua · March 5, 2012

Daily Forex Market by FXCC 05Mar2012

Daily Forex Market by FXCC 05Mar2012

Sterling near 2-weak high vs euro, but drops on dollar

EUR/USD opened marginally lower at 1.3191 at the weekly open, but managed to climb to 1.3213 after bouncing off support ahead of 1.3180 during the Asian session. The pair has since been bracketed between the mentioned range and now holds around 1.3190. AUD/USD has broken below intraday support at 1.0715 from an earlier high of 1.0741 following PMI data out of China, enabling the pair to slide to a fresh 5-day low in the 1.0700 area before stalling, last at 1.0704, recording a 0.23% loss on the day. The GBP/USD opened the week practically unchanged from its closing price at the end of trading last week, having operated between 1.5829 and 1.5843 so far in Asia, last quoted near the session high.

AUD/CAD is holding around last week's lows, last at 1.0613, with session lows at 1.0591 and highs at 1.0641. The cross is lower by -0.61% from previous weekly open, and still above Feb lows, since Jan 25. AUD/JPY is currently at 87.52, dealing with session lows set at 87.44 for the moment, below last Friday's lows. Losing some -0.31% for the session, the cross still holds above Feb 27/March 01 highs.

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URL: https://support.fxcc.com/email/technical/05032012

UPCOMING EVENTS

2012-03-05 09:00 GMT | Germany Purchasing Manager Index Services (Feb)

2012-03-05 09:00 GMT | EU - Purchasing Manager Index Services (Feb)

2012-03-05 09:30 GMT | United Kingdom Purchasing Manager Index Services (Feb)

2012-03-05 10:00 GMT | EU - Retail Sales (YoY) (Jan)

FOREX NEWS

2012-03-05 02:42 GMT | China: HSBC Services PMI signals renewed growth at 53.9

2012-03-05 00:33 GMT | Australia ANZ Job Advertisements 3.3% in Feb

2012-03-05 00:31 GMT | Australia Company Gross Operating Profits -6.5% in 4Q

2012-03-05 00:30 GMT | GBP/USD unchanged in Asia; support at 1.5800

EURUSD : 1.32055 / 1.32066

DAILY WEEKLY MONTHLY

1.3486 | 1.3424 | 1.3366 | 1.3280

1.3150 | 1.3108 | 1.3027 | 1.2969

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD formed a low at 1.3182 profiting on all our targets recommended in Friday’s analysis gaining a total of 69 pips!! A break below that level will be suggesting target at 1.3150 (S2) a technical level as we are still in a correction phase of our uptrend (daily). On the other hand if price manage to stay above 1.3182 we will then expect the price to retest 1.3280 (R1) and then further rise will then approach towards 1.3366 (R2). Our recommendation for today trading session is no position. I believe the pair it will continue its downward move and it will find a strong support at 1.3150 (S1). A level that it is very significant as it will determine if we are still in an uptrend (daily) or if we are heading to a trend reversal.

GBPUSD : 1.58247 / 1.58258

DAILY WEEKLY MONTHLY

1.6068 | 1.6029 | 1.5991 | 1.5896

1.5755 | 1.5680 | 1.5633 | 1.5587

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD fell from 1.5991 and broke below first and second resistance in our Friday’s recommended target gaining a total of 85 pips!!! After forming a top at 1.5991 (R2), price fell and made a support at 1.5808. A break below that level will suggest target at 1.5755(S1) and further fall will then be limited at 1.5680 (S2). On the other hand if price manage to stay above current level, we expect the price to retest 1.5896 (R1) and a break above that level we suggest target at 1.5991 (R2) a strong resistance level for the bears .

USDJPY : 81.270 / 81.278

DAILY WEEKLY MONTHLY

83.40 | 82.79 | 82.22 | 81.87

81.00 | 80.40 | 80.00 | 79.35

SUMMARY : Up

TREND : Up trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Oversold

MARKET ANALYSIS - Intraday Analysis

The USDJPY rise on Friday and closed above Friday’s resistance giving us a small profit of 20 pips. After that the price fell sharply and formed a bottom around 81.15. We expect the price to continue its upward move as it is under bullish pressure (daily), but before that we can expect for a retest and correction downwards towards 81.00 (S1) and then to continue upwards. Look for long positions at 81.00 (S1) with a stop loss at 80.40 (S2) targeting 81.87 (R1) a strong technical level for the bulls.

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

nazmul haque · March 5, 2012

It is too difficult to make money from forex !!

anyway, with lots of patience and experience one can enjoy it very nicely !

nazmul haque · March 5, 2012

forex is a very good game for time pass !! here, one can open his/her eye to see the world ecomomy in a second ! ha ha ha !!

nazmul haque · March 5, 2012

If anyone ask me why forex ??

my reply would be " why not forex? "

nazmul haque · March 5, 2012

nice post !!

thanks for the update !

alayoua · March 6, 2012

Daily Forex Market by FXCC 06Mar2012

Daily Forex Market by FXCC 06Mar2012

Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas.

Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies eget, tempor sit amet, ante. Donec eu libero sit amet quam egestas semper. Aenean ultricies mi vitae est. Mauris placerat eleifend leo. Quisque sit amet est et sapien ullamcorper pharetra. Vestibulum erat wisi, condimentum sed, commodo vitae, ornare sit amet, wisi. Aenean fermentum, elit eget tincidunt condimentum, eros ipsum rutrum orci, sagittis tempus lacus enim ac dui. Donec non enim in turpis pulvinar facilisis. Ut felis. Praesent dapibus, neque id cursus faucibus,

Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies eget, tempor sit amet, ante. Donec eu libero sit amet quam egestas semper. Aenean ultricies mi vitae est.

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URL: https://support.fxcc.com/email/technical/06032012

UPCOMING EVENTS

2011-08-10 11:14 GMT | Pellentesque habitant morbi tristique senectus

FOREX NEWS

2011-08-10 11:14 GMT | Pellentesque habitant morbi tristique senectus

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EURUSD : 1.32013 / 1.32020

DAILY WEEKLY MONTHLY

1.3424 | 1.3362 | 1.3280 | 1.3240

1.3159 | 1.3108 | 1.3027 | 1.2969

SUMMARY : Up

TREND : Upward penetration

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies eget, tempor sit amet, ante. Donec eu libero sit amet quam egestas semper. Aenean ultricies mi vitae est. Mauris placerat eleifend leo.

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GBPUSD : 1.58534 / 1.58549

DAILY WEEKLY MONTHLY

1.6068 | 1.6029 | 1.5991 | 1.5896

1.5782 | 1.5731 | 1.5680 | 1.5633

SUMMARY : Up

TREND : Upward penetration

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies eget, tempor sit amet, ante. Donec eu libero sit amet quam egestas semper. Aenean ultricies mi vitae est. Mauris placerat eleifend leo.

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USDJPY : 81.426 / 81.434

DAILY WEEKLY MONTHLY

83.40 | 82.79 | 82.22 | 81.87

81.14 | 80.78 | 80.24 | 79.85

SUMMARY : Up

TREND : Upward penetration

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies eget, tempor sit amet, ante. Donec eu libero sit amet quam egestas semper. Aenean ultricies mi vitae est. Mauris placerat eleifend leo.

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

Edited March 7, 2012 by alayoua

alayoua · March 7, 2012

Daily Forex Market by FXCC 07Mar2012

Daily Forex Market by FXCC 07Mar2012

AUD/USD off 5-week lows above 1.0520

EUR/USD is currently at 1.3137 retreating from session highs at 1.3150. Up +0.16% for the session, bounces from fresh 2-week lows at 1.3103 late NY, accelerating to the upside moments after worse than expected Australian 4Q GDP came out at 00:30 GMT. GBP/USD is trading a tight 40-pip range between 1.5698 and 1.5738 so far this Wednesday following a sharp overnight drop to current levels on the back of broad-based USD strength.

EUR/JPY has so far traded a tight 105.69- 106.40 range this Wednesday following a sustained break of the 107.00 handle overnight, sliding 1.6% to 106.05.Along with the dollar, the Japanese yen was the benefactor of a significant flight to safety on global growth and Greek PSI concerns, as investors sought refuge in safe-haven assets. Aussie is back above previous daily lows now around 1.0540, after falling to fresh 5-week lows at 1.0509. With much worse than expected Australian 4Q GDP rising half of expected +0.8%, AUD/USD dropped from session highs around 1.0570, to mentioned lows in a blink of an eye.

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URL: https://support.fxcc.com/email/technical/07032012

UPCOMING EVENTS

2012-03-07 00:30 GMT | Australia Gross Domestic Product (YoY) (Q4)

2012-03-07 06:45 GMT | Switzerland Unemployment Rate n.s.a (MoM) (Feb)

2012-03-07 11:00 GMT | Germany Factory Orders s.a. (MoM) (Jan)

2012-03-07 11:00 GMT | Germany Factory Orders n.s.a. (YoY) (Jan)

FOREX NEWS

2012-03-07 05:08 GMT | Japan Leading Economic Index 94.9 in Jan

2012-03-07 00:32 GMT | Australia 4Q Gross Domestic Product (YoY) 2.3%

2012-03-07 00:31 GMT | Australia 4Q Gross Domestic Product (QoQ) 0.4%

2012-03-07 00:01 GMT | United Kingdom: BRC Shop Price Index (MoM) (Feb): 1.2%

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EURUSD : 1.31382 / 1.31391

DAILY WEEKLY MONTHLY

1.3424 | 1.3362 | 1.3280 | 1.3240

1.3103 | 1.3053 | 1.3023 | 1.2985

SUMMARY : Down

TREND : Down trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD moved downwards and successfully penetrated our second support forming a new low at 1.3103 (S1) profiting on our target recommended in yesterday’s analysis gaining a total of 51 pips!! The pair is under bearish pressure since the price made a high at 1.3480 and retested it twice without succeeding to break above it with a resulting reversal and downwards move. A break below the 1.3103 (S1) level would suggest a target at 1.3053 (S2) and a further fall will then focus on 1.3023 (S3). We believe the pair will continue the downward move and will find a strong support at 1.2985 (S4) a significant technical and psychological level.

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GBPUSD : 1.57272 / 1.57283

DAILY WEEKLY MONTHLY

1.5992 | 1.5962 | 1.5896 | 1.5782

1.5695 | 1.5633 | 1.5580 | 1.5537

SUMMARY : Down

TREND : Down trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD made a sharp move downwards and confirmed our recommendations for short positions below 1.5782 successfully hitting the second support level ending the day with 52 pips profit!!! We expect the price to continue its downward move as it is under bearish pressure at the moment (both of our MA 10 - 20 are bearish). Watch for a further correction upwards towards first resistance. So, our recommendation for today’s trading session is look for short positions close to our first resistance 1.5782 (R1) targeting 1.5633 (S2) with a stop loss below 1.5896 (R2).

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USDJPY : 80.743 / 80.751

DAILY WEEKLY MONTHLY

82.79 | 82.30 | 81.87 | 81.14

80.58 | 80.24 | 79.85 | 79.43

SUMMARY : Neutral

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The USDJPY fell on yesterday’s trading session and found a strong support below yesterday’s first recommended target giving us a small profit of 36 pips! After that that price rose and is now moving above 80.58 (S1). If the USDJPY made a top (daily chart) at 81.72 (R2), we should expect further correction downwards (Fibonacci levels) but if the price completes its correction to the current level then it should continue its upwards move. Our recommendation for today’s trading session is no position as we are in a crucial point of the market and it is very important to see a break above 81.14 or below 80.58 to determine the current trend of the market.

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

alayoua · March 8, 2012

Daily Forex Market by FXCC 08Mar2012

The ECB is expected to leave the interest rate unchanged at 1.0%

EUR/USD is currently dealing with session highs last at 1.3178, capped below descending trend line coming from 1.3485 double top Feb 29, and also below past Friday's lows and weekly close. Local share markets have been on the bounce today after three consecutive days falling, with US futures pointing higher and Nikkei index up by +1.51% above the 9700 points mark. GBP/USD opened the day at 1.5738 and spent the Asia-Pacific session trading in a 1.5722/45 range before breaking to a session high of 1.5755 as Asian stocks were lifted on a rumor that the PBoC may cut the RRR by 50bps today. USD/JPY has extended the bounce from its weekly low at 80.57 to 81.35 so far in the Asia-Pacific, last at 81.23 from 81.07 at the end of trade late Wednesday.

AUD/USD has just shot up to a session high of 1.0605 mid-day in Asia-Pacific trading, having rallied from an earlier post- Aussie unemployment rate session low of 1.0530 to 1.0606 on rumors the PBOC might cut the RRR 50 BPS later today. The EUR/JPY cross is currently retracing losses made earlier in the week and is pushing up against psychological resistance at the 107.00 mark after briefly peaking at 107.04.

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UPCOMING EVENTS

2012-03-08 08:15 GMT | Switzerland Consumer Price Index (MoM) (Feb)

2012-03-08 12:00 GMT | United Kingdom BoE Interest Rate Decision (Mar 8)

2012-03-08 12:00 GMT | United Kingdom BoE Asset Purchase Facility (Mar)

2012-03-08 12:30 GMT | European Monetary Union ECB Interest Rate Decision

FOREX NEWS

2012-03-08 05:06 GMT | Japan Feb Eco Watchers Survey: Outlook up to 50.1

2012-03-08 04:25 GMT | EUR/JPY testing offers above 107.00

2012-03-08 00:31 GMT | Australia Unemployment Rate s.a. 5.2% in Feb

2012-03-08 00:05 GMT | Japan: Q4 GDP at an unsurprising -0.2%; record Jan current account deficit

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EURUSD : 1.31771 / 1.31781

DAILY WEEKLY MONTHLY

1.3424 | 1.3362 | 1.3280 | 1.3240

1.3096 | 1.3053 | 1.3023 | 1.2985

SUMMARY : Neutral

TREND : Neutral

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD fell and found a strong support at 1.3096 (S1) a significant technical and psychological level. As we can see on the chart the pair is at a crucial point, as a break below 1.3096 (S1) will confirm a new trend – downtrend. On the other hand if the price manages to break above 1.3240 (R1) it will move above the uptrend trend line and it will indicate a continuation of the uptrend. As we are at a crucial point that it establish if we are in a turning point or if we are still in an uptrend, our recommendations for today’s trading session is no position until one of the above scenarios take place.

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GBPUSD : 1.57674 / 1.57683

DAILY WEEKLY MONTHLY

1.5991 | 1.5943 | 1.5895 | 1.5847

1.5695 | 1.5633 | 1.5580 | 1.5537

SUMMARY : Down

TREND : Down trend

MA10 : Neutral

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD rally continued to push lower as yesterday the price retested 1.5695 (S1) level twice and failed to break lower as a result of an upwards move just below yesterday’s resistance. A break below 1.5695 (S1) will confirm our short positions targeting 1.5633 (S2) a level that has been retested a couple of times in the last two months but without succeeding to break below it, turning this into a strong technical level. On the other hand, if the pair retests and breaks above the first resistance level of 1.5782 (R1), we would expect the price to retest 1.5847 (R2) and a further rise will be limited at 1.5895 (R3).

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USDJPY : 81.312 / 81.320

DAILY WEEKLY MONTHLY

83.14 | 82.79 | 82.30 | 81.87

80.96 | 80.58 | 80.24 | 79.85

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY fell and formed a strong support at 80.58 (S1). After that the price made 3 attempts to break below it but without any success. Following that the price rose and successfully broke above yesterday resistance 81.14 and now it seems that is heading towards 81.87 (R1) a year high, for a retest. Both of our Moving Averages 10 and 20 turned bullish and as we can see the pair is gaining strong upwards momentum. Look for long positions at the current price targeting 81.87 (R1). A stop loss should be placed between 80.96 (S1) and 80.58 (S2).

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

alayoua · March 9, 2012

Daily Forex Market by FXCC 09Mar2012

Daily Forex Market by FXCC 09Mar2012

EUR/USD sells-off as Greece completes debt swap with 85.8% participation

USD/JPY has jumped higher in Asia as weaker-than-expected Chinese CPI data looks to have stimulated investors’ risk appetites. The pair has moved up to as high as 81.88 from 81.54 late Thursday as it tests the 81.87 double top seen Monday and last Friday.The Euro fell this morning as the Greek govt announced it had completed a debt swap with participation at 85.8% vs expectations running as high as 90/95%, although the number stays very much in line with the first initial pre-announcement by Greek offcials at the NY close. €172 tendered vs €206 eligible with Greek officials saying they will enact CACs, as they will amend terms of Greek law bonds for all holders. Grecia has also said participation will be 95.7% (€197m) after CAC triggered. Finally, Greece says 69% of non-Greek bondholders participated.

After the push down to 84.80 at the start of the week, AUD/JPY has bounced nicely from the mentioned support zone and the recovery has extended to as high as 87.12 so far in the Asia-Pacific. AUD/USD is having a minor pull-back from 1.0640 to 1.0634 after the China's consumer price index (CPI), a main gauge of inflation, came in lower-than-expected at 3.2% vs 3.5%, down from January's 4.5% increase.

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UPCOMING EVENTS

2012-03-09 09:30 GMT | United Kingdom Manufacturing Production (YoY) (Jan)

2012-03-09 09:30 GMT | United Kingdom Producer Price Index - Input (YoY)

2012-03-09 12:00 GMT | Canada Unemployment Rate (Feb)

2012-03-09 12:00 GMT | Canada Net Change in Employment (Feb)

FOREX NEWS

2012-03-09 05:34 GMT | China Retail Sales (YoY) falls to 14.7% in Feb from 18.1%

2012-03-09 01:37 GMT | China: CPI weaker than expected at 3.2% in Feb

2012-03-09 01:33 GMT | China Feb Consumer Price Index (YoY) 3.2%

2012-03-09 00:39 GMT | Australia Jan Trade Balance -0.673B

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EURUSD : 1.32410 / 1.32418

DAILY WEEKLY MONTHLY

1.3485 | 1.3424 | 1.3362 | 1.3291

1.3159 | 1.3096 | 1.3053 | 1.2985

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

In yesterday’s analysis we said we were expecting the EURUSD either to break above the uptrend trend line (daily), confirm that the pair is still in an uptrend or to break below 1.3100 and to establish a new trend – down trend. As we can see on the chart the bullish scenario took place and the price broke above the uptrend trend line determining that the uptrend is still in effect. The EURUSD rose and moved below our first resistance this morning at 1.3291 (R1) and now it seems that it is close to retesting the uptrend trend line again just above our first support. Look for long positions above the first support level targeting 1.3291 (R1) and further rise will then be limited at 1.3362 (R2).

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GBPUSD : 1.58039 / 1.58051

DAILY WEEKLY MONTHLY

1.5991 | 1.5943 | 1.5882 | 1.5847

1.5778 | 1.5695 | 1.5633 | 1.5580

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Neutral

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

GBPUSD made a sharp move upwards and successfully broke above yesterday’s resistance level continuing our winning streak by giving as a good profit (+49 pips). As long as it is above our second support level 1.5695 (S2), we can look for long positions close to our first support at 1.5778 (S1). A stop loss should be placed at 1.5695 (S2) but the most conservative and tactical traders can hold and wait for the break above 1.5847 (R2) to open their long positions targeting 1.5882 (R2).

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USDJPY : 81.684 / 81.694

DAILY WEEKLY MONTHLY

83.14 | 82.79 | 82.30 | 81.88

81.31 | 80.94 | 80.58 | 80.24

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Neutral

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY gained momentum and formed higher bottoms successfully penetrating yesterday's target ending our day with 53 pips of profit!! After that the price found a strong resistance at 81.88 (R1), a yearly high. We expect the price to move upwards but only a break above 81.88 (R1) will give as a confirmation for long positions targeting 82.79 (R3). A stop loss should be placed at 81.31 (S1).

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

alayoua · March 12, 2012

Daily Forex Market by FXCC 12Mar2012

Daily Forex Market by FXCC 12Mar2012

EUR/USD at 3-week lows in late Asia

EUR/USD is currently at 1.3100 level,right after Japanese confidence data has come out bit worse than expected, pushing USD higher across the board, along with yen, and sending equities lower. The day ahead includes EU Finance Ministers meeting, Germany Wholesale Price Index (Feb) month on month, and year on year, Italy GDP (Q4 final) at 09:00, Greek industrial production at 10.00 and Portugal Trade Balance at 11:00 GMT. GBP/USD traded sideways above the 1.5650 level for the whole of the Asia-Pacific session, having dipped to as low as 1.5656 from its opening price and session high of 1.5674, last at 1.5660. USD/JPY has begun to retreat from recent 11-month highs during the Asian session Monday, having dipped to as low as 82.10 from an earlier session high of 82.51 as the yen jumped slightly against the greenback on risk-off trading, ignoring further easing rumors by the BoJ in tomorrow's policiy meeting.

The aussie dollar is trading below the 1.0600 mark on Monday after China, main destination of Australian exports, has registered a deficit of CYN 31.5bn in the trade balance, below the CYN -4.9 bn expected and down from CYN 27.3 surplus in the previous print. USD/CHF is breaking higher above the 0.9200 level on broad greenback strength following Friday's positive jobs report in the US, peaking at 0.9213 so far in Asia as it extends its rebound from last week's 0.9069 low.

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UPCOMING EVENTS

2012-03-12 09:00 GMT | Italy Gross Domestic Product (YoY) (Q4)

2012-03-12 10:00 GMT | Greece Industrial Production (YoY) (Jan)

2012-03-12 11:00 GMT | Portugal Global Trade Balance (Nov)

2012-03-12 N/A GMT | European Monetary Union EU Finance Ministers meeting

FOREX NEWS

2012-03-12 07:31 GMT | Asian markets fall on Greek default

2012-03-12 07:01 GMT | Germany: Wholesale Price Index (MoM) increases 1% in Feb; (YoY) up 2.6%

2012-03-12 05:01 GMT | Japan Consumer Confidence Index decreases to 39.5

2012-03-12 01:13 GMT | EUR/USD dips below 1.3100

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EURUSD : 1.31143 / 1.31151

DAILY WEEKLY MONTHLY

1.3485 | 1.3362 | 1.3291 | 1.3159

1.3078 | 1.3026 | 1.2974 | 1.2928

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD made a sharp move downwards from 1.3291 (R2) on Friday’s trading session forming a new low just below our support level at 1.3078 (S1). Now the price has found a strong support at 1.3078 (S1) if it falls below this level we can expect the price to continue its downward move as it is under bearish pressure and it seems to be heading towards our support levels. This bearish pressure can also be confirmed by the moving averages that have turned bearish. A break below that level would suggest a target of 1.3026 (S2). If price holds its momentum on the downside we can expect a further decline towards 1.2974 (S3). On the other hand, if the price does not manage to break below 1.3078 (S1) we can expect the pair to retest resistance at 1.3159 (S1) and a further rise will be limited to 1.3291 (R2).

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GBPUSD : 1.56807 / 1.56817

DAILY WEEKLY MONTHLY

1.5882 | 1.5834 | 1.5778 | 1.5724

1.5655 | 1.5578 | 1.5531 | 1.5491

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD fell on Friday and was supported at 1.5655 (S1) a strong technical level .The price then rose and was able to break above Friday’s support and now it seems that the price is gaining momentum to the upside. A break above 1.5724 (R1) would suggest a target at 1.5778 (R2) and further rise will be limited to 1.5834 (R3). On the other hand a break below 1.5655 (S1) would suggest target at 1.5587 (S2).

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USDJPY : 82.220 / 82.229

DAILY WEEKLY MONTHLY

83.97 | 83.69 | 83.25 | 82.63

81.90 | 81.31 | 80.94 | 80.58

SUMMARY : Up

TREND : Up trend

MA10 : Neutral

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY moved upwards and formed a new high at 82.63 and after that the price fell retesting Friday’s support level. A break below 81.90 (S1) we expect the price to retest 81.31 (S2) and further fall will then be limited at 80.94 (S3). On the other hand if the pair finds a strong momentum to the upwards we expect the price to retest 82.63 (R1) a significant level for the bulls as a break above that level will then focus on 83.25 (R2).

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

alayoua · March 13, 2012

Daily Forex Market by FXCC 13Mar2012

Daily Forex Market by FXCC 13Mar2012

EUR/USD lower on BoJ, finds ground at 1.3150

EUR/USD is having a hit after BoJ announced its latest policy decision leaving rates on hold, and not implementing any new easing measures, which it seems has upset the market, sending equities lower and USD and yen higher. EUR/USD trades at 1.3159 as last after hitting fresh session lows at 1.3148, falling from highs at 1.3192.GBP/USD broke below 1.5650 support overnight, a level which had been tested on various occasions over the last few weeks. The pair managed to slide to a fresh 2-month low of 1.5601 before bounce to end the American session at 1.5640, down from 1.5673 late Friday.

AUD/USD is at a session high of 1.0555 versus an earlier low of 1.0504, quoted around 0.4% above its starting price this Tuesday.EUR/JPY is currently at session lows 108.29, falling from recent session and weekly highs at 108.52, touched twice during present session. Nikkei index trades to the upside regaining the 10000 points mark rising +1.18% for the day ahead of BoJ policy meeting later on, and following poor industrial data released earlier.

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UPCOMING EVENTS

2012-03-13 07:45 GMT | France Current Account (Jan)

2012-03-13 09:30 GMT | United Kingdom Trade Balance; non-EU (Jan)

2012-03-13 10:00 GMT | EU - ZEW Survey - Economic Sentiment (Mar)

2012-03-13 10:00 GMT | Germany ZEW Survey - Economic Sentiment (Mar)

FOREX NEWS

2012-03-13 05:47 GMT | EUR/USD lower on BoJ, finds ground at 1.3150

2012-03-13 05:09 GMT | Japan BoJ Interest Rate Decision steadies at 0.1%

2012-03-13 00:35 GMT | Australia National Australia Bank's Business Conditions up to 3 in Feb

2012-03-13 00:33 GMT | Australia Jan Home Loans -1.2%

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EURUSD : 1.31672 / 1.31680

DAILY WEEKLY MONTHLY

1.3424 | 1.3362 | 1.3291 | 1.3192

1.3078 | 1.3025 | 1.2978 | 1.2951

SUMMARY : Down

TREND : Down trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD rise and formed a top at 1.3192 (R1). A break above that level would suggest target at 1.3291 (R2). On the other hand if the price does not manage to break above 1.3192 (R1) then we can expect a retest of the support level at 1.3078 (S1). A break below that level would suggest target at 1.3025 (S2).

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GBPUSD : 1.56494 / 1.56510

DAILY WEEKLY MONTHLY

1.5882 | 1.5834 | 1.5769 | 1.5695

1.5601 | 1.5562 | 1.5513 | 1.5467

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Neutral

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD after forming a top (intraday) at 1.5695 (R1), fell in yesterday’s trading session forming a new low at 1.5601 (S1). A break below that level would suggest target at 1.5562 (S2) and further fall will be limited at 1.5513 (S3). On the other hand a break above 1.5695 (R1) we expect the price to retest 1.5769 (R2) and further rise will then be limited at 1.5834 (R3) leg correction to the downtrend.

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USDJPY : 82.162 / 82.171

DAILY WEEKLY MONTHLY

83.61 | 83.28 | 82.97 | 82.63

81.95 | 81.46 | 81.14 | 80.58

SUMMARY : Neutral

TREND : Sideway

MA10 : Neutral

MA20 : Neutral

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY found a strong resistance at 82.63 (R1) and trapped in a trading range between the level of 82.63 (R1) and today’s low 81.95 (S1). A break above the first resistance would suggest a target of 82.97 (R2). If price holds its momentum on the upside we can expect a further rise towards 83.28 (R3). On the other hand, if the price does not manage to break above 82.63 (R1) we can expect the pair to retest first support at 81.95 (S1). A break below that level would suggest target at 81.46 (S2) and further decline will then be limited at 81.14 (S3).

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

alayoua · March 14, 2012

Daily Forex Market by FXCC 14Mar2012

Daily Forex Market by FXCC 14Mar2012

EUR/USD weak in Asia below 1.3080

EUR/USD has been accelerating lower ahead of the London opening to just hit fresh weekly lows stalling its fall ahead of solid support area at 1.3030, lows from the first week of Feb.Support at 1.3050 failed to hold a fourth attempt at testing the area, triggering in the process an option barrier and stops clustered just underneath. If the next downside hurdle at 1.3030 is taken out, psychological round number 1.3000 will come into play ahead of 1.2975, Feb 16 low.

EUR/GBP sold off aggressively overnight, and is sitting above 0.8320 support at the moment, trading within a tight 0.8322-0.8332 intraday range so far this Wednesday after erasing nearly all of last week's gains in a singe day, losing around 1%.GBP/JPY is at 130.50 now, just 9 pips below session and weekly highs, little changed since Asian open, despite the fact USD/JPY is hitting yearly highs and highest since April 2011, because at the same time Cable is deep in the red around Tokyo and NY lows. The cross climbs +1.15% for the week so far, highest since August last year.

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UPCOMING EVENTS

2012-03-14 09:30 GMT | United Kingdom ILO Unemployment Rate (3M) (Jan)

2012-03-14 09:30 GMT | United Kingdom Claimant Count Change (Feb)

2012-03-14 10:00 GMT | European Monetary Union Consumer Price Index (MoM)

2012-03-14 10:00 GMT | European Monetary Union Industrial Production w.d.a.

FOREX NEWS

2012-03-14 04:33 GMT | Japan Industrial Production (YoY) -1.3% in Jan

2012-03-14 04:32 GMT | Japan Jan Capacity Utilization 3.4%

2012-03-14 01:08 GMT | USD/JPY at yearly highs above 83.00

2012-03-14 00:36 GMT | Australia 4Q Housing Starts (QoQ) -6.9%

---------

EURUSD : 1.30410 / 1.30419

DAILY WEEKLY MONTHLY

1.3325 | 1.3291 | 1.3192 | 1.3078

1.3025 | 1.2978 | 1.2951 | 1.2913

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD fell below our yesterday’s support and the traders that didn’t close their positions last night made a profit of 36 pips! The traders that closed their positions last night they broke even. The pair is under bearish pressure, this is very clear, as both of our Moving Averages are aggressive towards the price trading above it. Our recommendation for today’s trading session is short at 1.3025 (S1) targeting second support level at 1.2978 (S2) and further decline will then focus on 1.2951 (S3). A stop loss should be placed at 1.3078 (R1).

---------

GBPUSD : 1.56532 / 1.56549

DAILY WEEKLY MONTHLY

1.5943 | 1.5882 | 1.5769 | 1.5695

1.5601 | 1.5575 | 1.5523 | 1.5478

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD rose on Tuesday and closed above yesterday’s resistance giving us a small profit of 19 pips. After that the price fell sharply and formed a bottom around 1.5660. We expect the price to continue its downward move as it is under bearish pressure (daily). This is also supported by the fact that both of our Moving Averages turned bearish and are moving above the price. Look for short positions in today’s trading session targeting 1.5601 (S1) and 1.5575 (S2). A stop loss should be placed above 1.5695 (R1).

---------

USDJPY : 83.169 / 83.178

DAILY WEEKLY MONTHLY

84.91 | 84.69 | 84.15 | 83.61

82.63 | 81.95 | 81.46 | 81.14

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY rise in yesterday’s trading session and broke upwards from the intraday trading range and gained a small profit of 39 pips! After that the price continued to rise towards our second resistance level. If we take a look on the intraday chart we can see that the pair is gaining strong momentum to the upside as we can also observe that the Moving Averages are providing a strong support to the pair. We remain long on our positions targeting 83.61 (R1) and further rise will then focus on 84.15 (R2). A stop loss should be placed at 82.63 (S1).

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

alayoua · March 15, 2012

Daily Forex Market by FXCC 15Mar2012

Daily Forex Market by FXCC 15Mar2012

EUR/USD on the bounce from fresh 3-week lows

EUR/USD is on the bounce from fresh 3-week lows at 1.3003 since Hong Kong opened, rising a modest +0.23%, sending the pair back to previous NY close prices, and yesterday's Asian trade lows, around 1.3035.The Japanese yen is tumbling against a formidable U.S. dollar Thursday, seen gaining on its major trading counterparts across the board in the Asia-Pacific. USD/JPY is quoted in the 84.15 price zone, having pushed above psychological resistance at the 84.00 figure in recent minutes.

EUR/AUD is currently at 1.2454, trading at same exact price as it was doing 2 weeks ago during Feb 23, and earlier on by Jan 25 and 05 when for first time was heading lower to all time record lows at 1.2131. EUR/JPY is currently pushing lower at 109.44 off recent session and 12-day high at 109.63, just 11 pips below of that first multi month high Feb 27 post BoJ intervention late October past year.

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UPCOMING EVENTS

2012-03-15 08:30 GMT | Switzerland SNB Interest Rate Decision

2012-03-15 09:00 GMT | European Monetary Union ECB Monthly Report

2012-03-15 10:00 GMT | EU - Employment Change (QoQ) (Q4)

2012-03-15 10:00 GMT | EU - Employment Change (YoY) (Q4)

FOREX NEWS

2012-03-15 00:58 GMT | EUR/USD consolidates above 1.3000, support at 1.2970

2012-03-15 00:43 GMT | Australia Feb New Motor Vehicle Sales (YoY) 1.7%

2012-03-15 00:34 GMT | Australia New Motor Vehicle Sales (MoM) 0% in Feb

2012-03-15 00:00 GMT | Australia Consumer Inflation Expectation 2.7% in Mar

---------

EURUSD : 1.30455 / 1.30465

DAILY WEEKLY MONTHLY

1.3344 | 1.3291 | 1.3192 | 1.3078

1.3000 | 1.2955 | 1.2912 | 1.2870

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD the pair formed a high at 1.3291 (R3) then fell for 4 consecutive days and formed a bottom at 1.3000 (S1) a significant technical and psychological level. A break below that level will confirm our short positions targeting 1.2955 (S2) and a further fall with then be limited to 1.2912 (S3). On the other hand if the price manages to stay above the 1.3000 (S1) level we expect a retest of 1.3078 (R1) and if a break happens above that level we expect the price to move towards next upwards objective at 1.3192 (R2) and to give a "big breather" to the bulls as the 1.3000s levels are crucial to them.

---------

GBPUSD : 1.56542 / 1.56558

DAILY WEEKLY MONTHLY

1.5871 | 1.5834 | 1.5788 | 1.5744

1.5601 | 1.5574 | 1.5521 | 1.5486

SUMMARY : Down

TREND : Down trend

MA10 : Bearish

MA20 : Bearish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

GBPUSD made a sharp move upwards and successfully broke above our resistance level of 1.5695 ending our day with a loss (-45 pips). After that the price fell and now seems to be moving closer to our supports levels. A break below 1.5601 (S1) would suggest a target at 1.5574 (S2). On the other hand if the pair gains momentum upwards we expect the price to retest the 1.5744 (R1) level. Look for short positions below 1.5600 levels.

---------

USDJPY : 83.823 / 83.831

DAILY WEEKLY MONTHLY

85.29 | 84.93 | 84.69 | 84.17

83.57 | 82.63 | 81.95 | 81.46

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

USDJPY rise and successfully penetrated our second and third resistance confirming short position towards our targets at 84.15 gaining 95 pips of profit!!! After forming a top at our resistance level at 84.17 (R1) the price began to fall this morning and was able to come close to yesterday’s support level at 83.57 (S1). A break below that level would suggest a target at 82.63 (S2). On the other hand a break above 84.17 (R1) would suggest target at 84.69 (R2).

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

alayoua · March 16, 2012

Daily Forex Market by FXCC 16Mar2012

Daily Forex Market by FXCC 16Mar2012

EUR/USD limited below 1.3100 awaits US CPI

EUR/USD is currently resting over its ascending short term trend line started yesterday at the fresh 3-week lows 1.3003, from where it has bounced as high as 1.3120 yesterday's highs during mid NY session. The pair has pull backed since then to current session lows at 1.3066, now being in the mid price of Asian session with highs so far at 1.3100 round.

AUD/JPY spent the whole of the Asia-Pacific session consolidating below the 88.00 handle, operating within a very tight range between 87.65 and 87.99, last quoted near the top of the range at 87.95, unchanged from the daily opening.he bid tone remains ever present in AUD/CAD following its overnight bounce from 3-month lows. After respecting dynamic support at the 200-day EMA and posting its first daily gain in 9 sessions on Thursday, the pair is inching higher into the 1.0460 area, now quoted just off yesterday's 1.0463 peak.

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UPCOMING EVENTS

2012-03-16 12:30 GMT | US - Consumer Price Index (MoM) (Feb)

2012-03-16 12:30 GMT | US - Consumer Price Index (YoY) (Feb)

2012-03-16 12:30 GMT | US - Consumer Price Index Ex Food & Energy (MoM)

2012-03-16 12:30 GMT | US - Consumer Price Index Ex Food & Energy (YoY)

FOREX NEWS

2012-03-16 05:51 GMT | EUR/USD limited below 1.3100 awaits US CPI

2012-03-16 05:06 GMT | Japan Jan Coincident Index decreases to 92.7

2012-03-16 03:48 GMT | Forex: EUR/JPY threatening a push below 109.00

2012-03-16 02:32 GMT | Forex: AUD/CAD bid; resistance at 1.0485

---------

EURUSD : 1.30899 / 1.30909

DAILY WEEKLY MONTHLY

1.3347 | 1.3291 | 1.3192 | 1.3119

1.3000 | 1.2954 | 1.2912 | 1.2870

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The EURUSD formed a top yesterday at 1.3119 (R1) and now it seems it is moving downwards to retest the support levels. The pair is at a crucial level as, if it breaks above the first resistance we expect the price to form a correction towards 1.3192 (R2) and then to continue its downward move (daily). Our recommendation for today’s session is - no position, we remain flat, until we see the reaction of the price and a clearer trend developing.

---------

GBPUSD : 1.57157 / 1.57173

DAILY WEEKLY MONTHLY

1.5874 | 1.5834 | 1.5788 | 1.5744

1.5601 | 1.5574 | 1.5521 | 1.5486

SUMMARY : Neutral

TREND : Neutral

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD rise and closed just below our first resistance at 1.5711. After that the price fell and is now moving in a consolidation mode. By the time that the price retested our resistance level 3 times without succeeding to break above that this will keep us flat for today not risking a break below 1.5600 or above 1.5750 levels, as both of these levels are significant technical and psychological important. Our recommendation for today’s trading session is no position until we see which of the bulls or the bear will win the battle.

---------

USDJPY : 83.456 / 83.461

DAILY WEEKLY MONTHLY

85.46 | 84.98 | 84.69 | 84.17

83.18 | 82.63 | 81.95 | 81.46

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The USDJPY fell from 84.17 (R1) and formed a low at 83.18 (S1) after which the price rebounded from that level this morning and now it seems that it is moving upwards. A break above the first resistance level of 84.17 (R1) would suggest a target and retest of 84.69 (R2). If the price holds its momentum on the upside we can expect a further rise towards 84.98 (R3). On the other hand, if the price does not manage to break above 84.17 (S1) we can expect the pair to retest support at 83.18 (S1) and a further fall will be limited to 82.63 (S2).

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

alayoua · March 19, 2012

Daily Forex Market by FXCC 19Mar2012

Daily Forex Market by FXCC 19Mar2012

EUR/USD in tight range above 1.3000 level during Asia

EUR/USD keeps trading in late Asia-Pacific quite limited at 1.3169 between highs at 1.3186 and lows at 1.3162 for all session being so far in the start of the week. GBP/USD is holding onto Friday's firm gains as trading gets underway this Monday, last at 1.5840 versus 1.5830 at the end of trading in NY, having traded a tight 1.5828/50 range so far today. After reaching an 11-month high of 84.17 last week, USD/JPY has pulled back and now trades, at 83.50 in Asia, up from 83.37 at the end of trading late Friday. To the downside, support levels lie at 83.40, 83.10 and 82.80, while, to the upside, resistance levels lie at 83.80, 84.15 and 84.50.

AUD/USD climbed to a 6-day high of 1.0614 Monday in the Asia-Pacific, last quoted around the 1.0600 mark from 1.0580 as it drifts sideways as RBA Governor Stevens' speaks at the Asian investment conference.The New Zealand dollar touched a 7-day high against the greenback on Monday, jumping to 0.8274 from 0.8234 late in the New York session on Friday. Last at 0.8256, resistance is noted at 0.8320 (27 Feb low), while support lies at 0.8192 (22 June high).

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UPCOMING EVENTS

2012-03-19 09:00 GMT | European Monetary Union Current Account s.a (Jan)

2012-03-19 09:00 GMT | European Monetary Union Current Account n.s.a (Jan)

2012-03-19 09:00 GMT | Italy Industiral Orders n.s.a (YoY) (Jan)

2012-03-19 10:00 GMT | European Monetary UnionConstruction Output s.a (Jan)

FOREX NEWS

2012-03-19 05:26 GMT | EUR/USD in tight range during Asia

2012-03-19 05:11 GMT | AUD/USD hovers around 1.0600 as Stevens speaks

2012-03-19 00:31 GMT | GBP/USD consolidating below 1.5850

2012-03-19 00:01 GMT | USD/JPY dowside limited while above 83.10

---------

EURUSD : 1.31686 / 1.31694

DAILY WEEKLY MONTHLY

1.3378 | 1.3324 | 1.3273 | 1.3189

1.3119 | 1.3048 | 1.3003 | 1.2954

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Neutral

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

After the EURUSD formed a bottom 1.3003 (S3) the pair rose and penetrated upwards all of our resistance levels forming a new high (intraday) at 1.3189 (R1). If it breaks above that level we can expect a target at 1.3273 (R2). On the other hand if a break occurs below the first support at 1.3119 (S1) expect the price to retest 1.3048 (S2) and any further fall will then be limited to 1.3003 (S3) a strong technical and psychological level for the bulls as it has been retested in the past (Feb. 2012) without succeeding to break below it.

---------

GBPUSD : 1.58431 / 1.58447

DAILY WEEKLY MONTHLY

1.5997 | 1.5967 | 1.5912 | 1.5861

1.5787 | 1.5734 | 1.5654 | 1.5605

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD gained momentum and rose forming a new top at 1.5861 and after then fell and since last night is moving in a consolidation mode. If a break occurs above the first resistance level at 1.5861 (R1) it would suggest a target at 1.5912 (R2) and any further rise will then be limited to 1.5967 (R3). If it fails to break above the first resistance level we expect the price to retest 1.5787 (S1). A break below that level would suggest a target at 1.5734 (S2) and any further fall with then focus on 1.5654 (S3).

---------

USDJPY : 83.369 / 83.379

DAILY WEEKLY MONTHLY

84.92 | 84.57 | 84.18 | 83.81

83.17 | 82.58 | 81.94 | 81.14

SUMMARY : Up

TREND : Up trend

MA10 : Neutral

MA20 : Neutral

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

USDJPY has been moving upwards since the beginning of March and the bulls face a major hurdle at the 84.18 level (resistance), a level that is significant both psychologically and technically. A break above 83.81 (R1) would suggest a target at 84.18 (R2) a year high. On the other hand a break below 83.17 and we expect the price to retest 82.58 (S2) and any further fall with then be limited to 81.96 (S3).

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

alayoua · March 21, 2012

Daily Forex Market by FXCC 21Mar2012

Daily Forex Market by FXCC 21Mar2012

EUR/USD ends Asian trade above Monday highs

EUR/USD is currently at 1.3267 retreating from session highs at 1.3283, highest since March 08, still up for the session +0.30% and +0.71% for the week. European futures point for a higher open following the run up in US futures in after hours, and the rise in commodities during the Asian trade, although local share markets have traded in a mixed way with mostly all indexes in the red, Nikkei lower near session lows by -0.59%.At the start of trading this Wednesday, USD/JPY is trading a tight 83.52-83.72 range, last at 83.60 with support levels noted at 83.30, 83.10 and 82.80, while resistance is seen at 83.80, 84.15 and 84.45.

AUD/USD has given up all of its earlier gains this Wednesday in Asia, coming off hard from its 1.0525 intraday high to levels back near its starting price at 1.0477.After consolidating above the 0.8300 handle for the last week, EUR/GBP has recently broken to the upside and has risen to a 6-day high of 0.8358 this Wednesday in Asia, last quoted at 0.8355, up 20 pips above its opening price.

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UPCOMING EVENTS

2012-03-21 09:30 GMT | United Kingdom Bank of England Minutes

2012-03-21 09:30 GMT | United Kingdom Public Sector Net Borrowing (Feb)

2012-03-21 12:00 GMT | Canada Leading Indicators (MoM) (Feb)

2012-03-21 13:30 GMT | United States Fed's Bernanke Speech

FOREX NEWS

2012-03-21 05:45 GMT | EUR/USD ends Asian trade above Monday highs

2012-03-21 05:36 GMT | GBP/USD limited below 1.5900 ahead of Europe

2012-03-21 02:50 GMT | EUR/GBP climbs to 6-day high near 0.8360

2012-03-21 02:09 GMT | EUR/JPY limited below 111.00 figure

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

EURUSD : 1.32737 / 1.32747

DAILY WEEKLY MONTHLY

1.3421 | 1.3378 | 1.3324 | 1.3283

1.3235 | 1.3189 | 1.3119 | 1.3048

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD gained momentum and formed a higher top, successfully penetrating yesterday's resistance making a new high at 1.3283 (R1). The pair is moving upwards and we expect the price to continue its uptrend but only a break above 1.3283 (R1) will give as a confirmation for long positions targeting 1.3324 (R2). As far as the price is below 1.3283 (R1) we remain flat.

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

GBPUSD : 1.58827 / 1.58836

DAILY WEEKLY MONTHLY

1.6034 | 1.5997 | 1.5967 | 1.5913

1.5819 | 1.5734 | 1.5654 | 1.5605

SUMMARY : Up

TREND : Up trend

MA10 : Bullish

MA20 : Bullish

STOCHASTIC : Overbought

MARKET ANALYSIS - Intraday Analysis

GBPUSD fell on yesterday’s trading session and was supported at 1.5819 (S1) a strong technical level. The price then rose and was able to close in the middle of first support and resistance level and now it seems that the price is gaining momentum. A break above 1.5913 (R1) would suggest a target at 1.5967 (R2) and further rise will be limited at 1.5997 (R3). Look for long positions at 1.5913 targeting recommended resistance levels.

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

USDJPY : 83.682 / 83.689

DAILY WEEKLY MONTHLY

84.92 | 84.57 | 84.18 | 83.81

83.00 | 82.58 | 81.94 | 81.14

SUMMARY : Neutral

TREND : Sideway

MA10 : Neutral

MA20 : Bullish

STOCHASTIC : Neutral

MARKET ANALYSIS - Intraday Analysis

The USDJPY didn’t made any significant moves in yesterday’s trading session and is still trapped in the 83.00 – 83.81 range. A break in either direction will determine the trading bias in today`s session. A break below 83.00 will confirm our short positions targeting 82.58 (S2) and a further fall will be limited to 81.94 (S3). On the other hand, if the pair breaks above the first resistance level of 83.81 (R1), we would expect the price to retest 84.18 (R2) a year high and further rise will then focus at 84.57 (R3).

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

alayoua · March 22, 2012

Daily Forex Market by FXCC 22Mar2012

GBP/USD bracketed between 1.5855/82 ahead of key UK data

EUR/USD is currently at 1.3230 slightly off session highs, before worse than expected Chinese PMI figures came out at 48.1. The Euro has been relatively well supported specially against AUD given the risk-off round in the Asia-Pacific market after the PMI data, lifting EUR/AUD to fresh 2012 highs at 1.2737. The pair holds onto +0.19% gains since session started, still below 0.618 retrace of yesterday's leg down 1.3285/1.3178. GBP/USD traded a limited range between 1.5855 and 1.5882 during the Asia-Pacific session, last quoted just a few pips below its starting price this Thursday at 1.5867.In the European session ahead, risk event for the Pound will be February UK Retail Sales data due for release at 0930 GMT, considered one of the most important consumer indicators.

The Australian dollar (AUDJPY) is sliding across the board this Thursday in Asia after a surprisingly weak reading of China's HSBC Flash PMI, reigniting concerns of a sharp slowdown in the world's second largest economy, shrinking in March for a fifth successive month to 48.1. The EURJPY after remaining well on course for the 111.57 intervention high, the pair had a violent turnaround on Wednesday, courtesy of heavy yen buying across the board, taking the rate as low as 110.03 post NY close and even extending to new lows at 109.87 post trade balance results in Japan, which came better than expected due to an increase in US car sales and steel exports.

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