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Two European central bank presidents spoke on Monday concerning their overall relative responsibilities. European Central Bank President Mario Draghi said he’s prepared to release another long-term refinancing operation in order to provide funds to Europe’s banking system if and when needed. Unlike previous times after Mr Draghi has held court, the market reaction this time was muted. The Swiss franc is still highly valued and the central bank’s currency ceiling remains essential for safeguarding the economy, according to Swiss National Bank President Thomas Jordan in his statement on Monday. Therefore the loose peg, in relation to the value of the Swiss franc versus the euro, at circa 120, will remain in force until conditions change. The U.S. currency fell versus the majority of its sixteen major peers as a consequence of the Bank of Atlanta President Dennis Lockhart and others stating that Fed policy should focus on creating a more dynamic economy. Lockhart has continually backed the Fed’s $85 billion in monthly bond purchases that were retained last week.
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX ECONOMIC CALENDAR :
2013-09-24 08:00 GMT | DE IFO - Business Climate (Sep)
2013-09-24 12:30 GMT | CA Retail Sales (MoM) (Jul)
2013-09-24 14:00 GMT | US Consumer Confidence (Sep)
2013-09-24 22:45 GMT | NZ Trade Balance (YoY) (Aug)
FOREX NEWS :
2013-09-24 05:16 GMT | EUR/USD churning above support of 1.3476 ahead of German data
2013-09-24 05:01 GMT | EUR/GBP struggles to maintain the 0.8400 support
2013-09-24 04:42 GMT | GBP/USD off slightly Tuesday after brief rally Monday; key support 1.5894
2013-09-24 03:59 GMT | USD/JPY pulling back away from 99.52 resistance as Yen sees safety inflows
--------------------
EURUSD :
HIGH 1.34985 LOW 1.3489 BID 1.34953 ASK 1.34955 CHANGE 0.02% TIME 08 : 47:25
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Appreciation above the resistance at 1.3517 (R1) might commence new step of the ascending structure. Our intraday targets today are placed at 1.3538 (R2) and 1.3560 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support level at 1.3478 (S1), only clear break here would be a signal of further market easing towards to next targets at 1.3458 (S2) and 1.3437 (S3) in potential.
Resistance Levels: 1.3517, 1.3538, 1.3560
Support Levels: 1.3478, 1.3458, 1.3437
---------------------------
GBPUSD :
HIGH 1.60443 LOW 1.60252 BID 1.60256 ASK 1.60261 CHANGE -0.1% TIME 08 : 47:26
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market price penetrated below the moving averages and likely close at the negative side today. Our next resistive measure lies at 1.6054 (R1), break here is required to achieve higher targets at 1.6083 (R2) and 1.6109 (R3). Downwards scenario: Possible market weakening is protected by important technical level at 1.6016 (S1). Break here is required to open road towards to interim target at 1.5989 (S2) en route to final aim at 1.5962 (S3).
Resistance Levels: 1.6054, 1.6083, 1.6109
Support Levels: 1.6016, 1.5989, 1.5962
-------------------
USDJPY :
HIGH 98.93 LOW 98.662 BID 98.921 ASK 98.923 CHANGE 0.08% TIME 08 : 47:27
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: We expect possible upwards penetration. Break above the resistance at 98.93 (R1) would clear the way towards to higher target at 99.10 (R2). Further price appreciation would face then final resistive measure at 99.27 (R3) Downwards scenario: Our next support level locates at 98.63 (S1) mark. Possible penetration below this level would open way towards to next target at 98.47 (S2) and then final aim lie at 98.31 (S3) price level.
Resistance Levels: 98.93, 99.10, 99.27
Support Levels: 98.63, 98.47, 98.31
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
Asian traders were rather inactive at the early going of Tokyo, with some Yen strength the main theme, yet as the session advanced, Aussie weakness also became dominant. In the US, following an uncertain and uneven Wall Street session after Fed’s comments on indefinite timing for bond-buying program, Asia registered mixed results in equity indexes with the Nikkei down 0.39%, pushing the yen higher. In New Zealand, the trade deficit expanded from $-771M to $-1191M beating estimates, for the worse, at $-743M. In Australia, the RBA said the banking system is liquid and in good shape and added the housing market data is strong and yet the Aussie remained heavy with slow progress upward.
Japan prepared for the tankan results next week and market participants remain on their feet to any governmental decision to increase the sales taxes as Prime Minister Abe announce a potential increase based on tankan results despite the Spring 2014 plans to proceed with the monetary policies. In the futures contracts realm, all metals printed gains with notably copper advancing on positive Chinese consumer data along with gold registering gains worth 0.66% for the first time in the week to reach $1,325.00.
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX ECONOMIC CALENDAR :
2013-09-25 06:00 GMT | DE Gfk Consumer Confidence Survey (Oct)
2013-09-25 10:00 GMT | UK CBI Distributive Trades Survey - Realized (MoM) (Sep)
2013-09-25 12:30 GMT | US Durable Goods Orders (Aug)
2013-09-25 14:00 GMT | US New Home Sales (MoM) (Aug)
FOREX NEWS :
2013-09-25 05:05 GMT | EUR/USD threatening Tuesday low of 1.3463 ahead of Europe open
2013-09-25 04:47 GMT | USD/JPY has downside risks in coming months - JPMorgan
2013-09-25 04:24 GMT | AUD/USD is falling as “debt-ceiling” issue looms out
2013-09-25 03:36 GMT | Gold rallies off Tuesday low at 1305.50, but runs into wall at 1326.80
-------------------
EURUSD
HIGH 1.34809 LOW 1.34619 BID 1.34719 ASK 1.34722 CHANGE -0.01% TIME 08 : 47:09
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next resistive barrier locates at 1.3497 (R1). Violation here is required to provide a signal of further market strengthening. In such case, resistances at 1.3520 (R2) and 1.3542 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: Further correction development might face next hurdle at 1.3458 (S1). Break here is required to open road towards to our next interim target at 1.3437 (S2), en route to final aim at 1.3415 (S3).
Resistance Levels: 1.3497, 1.3520, 1.3542
Support Levels: 1.3458, 1.3437, 1.3415
-------------------
GBPUSD :
HIGH 1.60039 LOW 1.59794 BID 1.59904 ASK 1.59911 CHANGE -0.07% TIME 08 : 47:09
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: A violation of next resistance at 1.6021 (R1) might call for a run towards to next target at 1.6060 (R2) and any further appreciation would then be limited to final target at 1.6097 (R3). Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.5954 (S1) is being able to drive market price towards to our next targets at 1.5912 (S2) and 1.5870 (S3).
Resistance Levels: 1.6021, 1.6060, 1.6097
Support Levels: 1.5954, 1.5912, 1.5870
-----------------
USDJPY :
HIGH 98.798 LOW 98.557 BID 98.680 ASK 98.682 CHANGE -0.06% TIME 08 : 47:10
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Neutral tone remains favored on the hourly chart frame, however possible extension above the resistive measure at 98.92 (R1) would suggest next intraday targets at 99.07 (R2) and 99.21 (R3). Downwards scenario: On the other hand, new phase of downtrend formation might commence below the important support level at 98.56 (S1). Break here is required to validate our targets at 98.41 (S2) and 98.26 (S3) later on today.
Resistance Levels: 98.92, 99.07, 99.21
Support Levels: 98.56, 98.41, 98.26
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
SPX drop longest since 'fiscal cliff' debacle of December 2012
The SPX has dropped over 1.9 percent during the past five trading days as investors remain cautious as to whether or not the pending government shutdown will eventually harm USA economic growth. The current fall is now the longest witnessed on the index since Dec 28th 2012, when USA lawmakers clashed over the impending automatic spending cuts and tax increases known as the "fiscal cliff". Sterling advanced 0.4 percent to $1.6070 late in the London session after rising to $1.6163 on Sept 18th, which was the highest level seen since Jan 11th. The U.K. currency was little changed at 84.22 pence per euro after appreciating to 83.53 pence on Sept 18th, the strongest level seen since Jan 17th. Sterling strengthened towards its eight-month high versus the dollar after a gauge of U.K. retail sales from the UK's CBI increased in September, adding to signs the U.K. economy is improving, slowly. Sterling rose versus all of its 16 major counterparts before a report today that analysts believe will confirm that the U.K. economy expanded last quarter by the estimated 0.7%. The pound has in fact been the best performer during the past six months, appreciating 5.8 percent versus the dollar.
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX ECONOMIC CALENDAR :
2013-09-26 08:30 GMT | UK Gross Domestic Product (YoY) (Q2)
2013-09-26 12:30 GMT | US Gross Domestic Product Annualized (Q2)
2013-09-26 14:00 GM | US Pending Home Sales (YoY) (Aug)
2013-09-26 23:30 GMT | JP National CPI Ex Food, Energy (YoY) (Aug)
FOREX NEWS :
2013-09-26 05:37 GMT | USD/JPY surges as Nikkei cracks the 14,500
2013-09-26 05:36 GMT | EUR/USD gathering steam for another upside move ahead of European
2013-09-26 04:28 GMT | GBP/USD consolidating big gains from Wednesday; first support 1.6046
2013-09-26 03:17 GMT | GBP/JPY propelled to 159.27 highs
-------------------
EURUSD
HIGH 1.35306 LOW 1.35116 BID 1.35209 ASK 1.35213 CHANGE -0.03% TIME 08 : 47:50
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: An element of resistive measures could be found at 1.3538 (R1). Clearance here would suggest further uptrend development towards to our interim target at 1.3562 (R2). Final aim locates today at 1.3584 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.3507 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.3483 (S2) and then 1.3459 (S3).
Resistance Levels: 1.3538, 1.3562, 1.3584
Support Levels: 1.3507, 1.3483, 1.3459
----------------
GBPUSD
HIGH 1.60865 LOW 1.60671 BID 1.60771 ASK 1.60775 CHANGE -0.01% TIME 08 : 47:51
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside, fractals level at 1.6090 (R1) offers an important resistive structure. Any penetration above that level would suggest next intraday targets at 1.6114 (R2) and 1.6137 (R3). Downwards scenario: On the other hand, our bearish expectations remain intact below the key support level at 1.6055 (S1). Price penetration below it would allow further declines towards to lower targets at 1.6031 (S2) and 1.6006 (S3).
Resistance Levels: 1.6090, 1.6114, 1.6137
Support Levels: 1.6055, 1.6031, 1.6006
-----------------
USDJPY
HIGH 99.11 LOW 98.269 BID 98.893 ASK 98.896 CHANGE 0.47% TIME 08 : 47:52
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market remains relatively stable above the moving averages. Clearance of next resistance level at 99.11 (R1) might initiates bullish pressure and expose our intraday targets at 99.26 (R2) and 99.42 (R3) later on today. Downwards scenario: Clearance of our support at 98.68 (S1) is required to determine negative intraday bias and enable lower target at 98.51 (S2) and then any further market depreciation would suggest final aim at 98.34 (S3).
Resistance Levels: 99.11, 99.26, 99.42
Support Levels: 98.68, 98.51, 98.34
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
Despite the hope that the USA will eventually agree a new debt ceiling, U.S. Congress has failed to pass the necessary budget, Republicans and Democrats continue to disagree over whether to stop funding the 2010 health-care initiative known as Obamacare, thereby threatening a a government shutdown by Oct 1st. Equities rose in Thursday's trading sessions, with the Standard & Poor’s 500 Index rising by 0.4 percent to 1,698.67 at the close in the New York session. The yield on the 10-year Treasury note also climbed two basis points, or 0.02 percentage point, to 2.65 percent. Other data sets published on Thursday may have confirmed that the USA economy improved in the second quarter of 2013, however, positive GDP numbers were countered by fewer Americans signing contracts to buy previously owned homes in August. USA GDP rose at a 2.48% percent annual rate, unrevised from the previous estimate, after expanding 1.1 percent in the first quarter, the USA Commerce Department reported. The index of pending home sales fell 1.6 percent, the recent rise in mortgage rates slowing momentum in the housing market, according to figures from the National Association of Realtors.
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX ECONOMIC CALENDAR :
2013-09-27 12:00 GMT | DE.Harmonised Index of Consumer Prices (YoY) (Sep)Preliminar
2013-09-27 12:00 GMT | DE.Consumer Price Index (MoM) (Sep)Preliminar
2013-09-27 12:30 GMT | US.Personal Spending (Aug)
2013-09-27 12:30 GMT | US.Personal Income (MoM) (Aug)
FOREX NEWS :
2013-09-27 05:01 GMT | EUR/CHF at six-week low
2013-09-27 04:02 GMT | EUR/USD under pressure on Italian political uncertainty
2013-09-27 02:53 GMT | AUD/JPY dives to 92.13 bottoms
2013-09-27 02:37 GMT | EUR/JPY cracks down to 133.02 lows
EURUSD :
HIGH 1.3491 LOW 1.34742 BID 1.34868 ASK 1.34871 CHANGE -0.01% TIME 08 : 11:57
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Resistance level at 1.3504 (R1) acts as reference point for further market strengthening. Break here is required to enable next interim target at 1.3523 (R2) en route towards to final aim for today at 1.3542 (R3). Downwards scenario: Next challenge on the downside is seen at 1.3472 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 1.3452 (S2) and 1.3435 (R3) later on today.
Resistance Levels: 1.3504, 1.3523, 1.3542
Support Levels: 1.3472, 1.3452, 1.3435
GBPUSD :
HIGH 1.60532 LOW 1.603 BID 1.60506 ASK 1.60511 CHANGE 0.06% TIME 08 : 11:57
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our attention on the upside is put to the next resistive barrier at 1.6139 (R1). Break here is required to stimulate bullish forces to expose initial targets at 1.6170 (R2) and 1.6206 (R3) later on today. Downwards scenario: We do expect some pull-backs development on the downside below the support level at 1.6030 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 1.6000 (S2) and 1.5964 (S3).
Resistance Levels: 1.6139. 1.6170, 1.6206
Support Levels: 1.6030, 1.6000, 1.5964
-----------------------
USDJPY :
HIGH 99.04 LOW 98.624 BID 98.634 ASK 98.636 CHANGE -0.34% TIME 08 : 11:58
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 99.05 (R1). Break here would open road towards to our interim aim at 99.33 (R2) and enable final intraday resistive measure at 99.58 (R3). Downwards scenario: On the other hand, our next support level aligns at 98.56 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 98.25 (S2) and 97.97 (S3).
Resistance Levels: 99.05, 99.33, 99.58
Support Levels: 98.56, 98.25, 97.97
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] [url]http://www.fxcc.com[/url] [/url] )
Forex Technical & Market Analysis FXCC Oct 01 2013
Forex Technical & Market Analysis FXCC Oct 01 2013
The US government shutdown - truth or dare
Early in the overnight/early morning session we'll have received the RBA decision regarding the base rate for Australia, this will be accompanied by a statement concerning the decision, which is expected to keep the current rate at 2.5%. The U.S. government looks set for its first partial shutdown in over 17 years, with no signs of compromise from the Congress or the White House. The U.S. has had 17 funding gaps from 1977 to 1996. In 1995 and 1996, interruptions lasted from Nov 14th to Nov 19th and from Dec 16th to Jan 6th, as Republicans led by House Speaker Newt Gingrich clashed with President Bill Clinton. Equity index futures are down on the USA equity markets, the DJIA equity index future is down 0.98 at the time of writing, leaving the index at 15046, very close to the critical 15,000 level. SPX equity index future is down 0.62%. European equity index futures are mainly in the red, STOXX down 0.9%, FTSE down 0.79% and the DAX down 0.87%. The U.S. Dollar Index, tracking the performance of a basket of the 10 leading global currencies versus the dollar, fell for a second trading-day, declining by 0.1 percent to 1,011.85 late in the New York session, after weakening by as much as 0.2 percent. The yen was little changed at 98.30 per dollar after touching 97.50, the strongest level since Aug 29th. Japan’s currency fell 0.1 percent to 132.93 versus the euro after appreciating to 131.38, the strongest level witnessed since Sept 9th. The euro was little changed at $1.3527.
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX NEWS :
2013-10-01 05:18 GMT | AUD/JPY continues short-term upside following Aussie rate decision and comments
2013-10-01 04:39 GMT | EUR/USD eyes 1.3550 as shutdown kicks in
2013-10-01 04:31 GMT | USD/JPY slipping and sliding now that US government shutdown is a reality
2013-10-01 04:01 GMT | GBP/USD is spiking as the Senate votes down the House spending bill
---------------------
EURUSD :
HIGH 1.35519 LOW 1.35174 BID 1.35448 ASK 1.35452 CHANGE 0.14% TIME 08 : 24:34
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next resistance level is seen at 1.3555 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3578 (R2) and 1.3600 (R3) in potential. Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 1.3517 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 1.3472 (S2) and 1.3435 (S3).
Resistance Levels: 1.3555, 1.3578, 1.3600
Support Levels: 1.3517, 1.3472, 1.3435
--------------------
GBPUSD :
HIGH 1.62465 LOW 1.61823 BID 1.62370 ASK 1.62374 CHANGE 0.32% TIME 08 : 24:35
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: The local peak at 1.6247 (R1) offers an important resistive level. Any penetration above it might shift the balance to the bullish side and validate our intraday targets at 1.6279 (R2) and 1.6308 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.6207 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.6180 (S2) and 1.6139 (S3).
Resistance Levels: 1.6247, 1.6279, 1.6308
Support Levels: 1.6207, 1.6180, 1.6139
---------------------------
USDJPY :
HIGH 98.728 LOW 98.031 BID 98.124 ASK 98.129 CHANGE -0.09% TIME 08 : 24:36
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Neutral
IMPLIED VOLATILITY : Medium
Upwards scenario: Break above the next resistance level at 98.56 (R1) is required to generate upside action and trigger our intraday targets at 98.81 (R2) and 99.05 (R3). Downwards scenario: Further correction development is limited now to the session low - 97.95 (S1). If the price manages to surpass it we would suggest next intraday targets at 97.63 (S2) and 97.30 (S3).
Resistance Levels: 98.56, 98.81, 99.05
Support Levels: 97.95, 97.63, 97.30
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
Forex Technical & Market Analysis FXCC Oct 02 2013
Forex Technical & Market Analysis FXCC Oct 02 2013
Ben Bernanke may delay taper if shut down impasse continues
The Swiss franc appears to have become the safe haven currency of choice during the USA partial govt. shutdown. The Swiss franc rose to its highest level versus the dollar in nineteen months as a partial shutdown of the U.S. government increased demand for Switzerland’s currency as a safe haven currency. The franc is typically sought by investors seeking safety at times of heightened global stress and it climbed versus all but two of its 16 major currency peers during Tuesday's trading sessions. Versus the USD it strengthened through 90 cents per dollar for the first time since Feb. 29, 2012. The Swiss currency rose 0.3 percent to 90.23 centimes per dollar at 10:50 a.m. in Zurich, after rising to as much as 89.93 centimes. Versus the euro it was little changed at 1.2225. The dollar traded at close to its lowest level seen since February as the partial shutdown of the U.S. government increased speculation that the Federal Reserve will persevere with its asset purchases, therefore weakening the currency. The U.S. currency was little changed at $1.3526 per euro after depreciating to $1.3588, the weakest level seen since Feb 6th. The yen gained by 0.3 percent to 98 per dollar and climbed 0.3 percent to 132.55 per euro.
FOREX NEWS :
2013-10-02 04:48 GMT | EUR/USD sitting on the fence ahead of ECB
2013-10-02 04:11 GMT | GBP/AUD soars on dismal AUD data
2013-10-02 03:46 GMT | RBA next rate cut delayed till February - NAB
2013-10-02 03:12 GMT | Japan’s the black sheep among winning indexes in Asia
EURUSD :
HIGH 1.35282 LOW 1.35074 BID 1.35240 ASK 1.35244 CHANGE -0.01% TIME 08 : 32:56
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fractals level at 1.3536 (R1) offers a key resistive measure on the upside. Break here is required to enable bullish pressure and validate next target at 1.3551 (R2). Final support for today locates at 1.3566 (R3). Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3506 (S1). Penetration below this mark would suggest next targets at 1.3491 (S2) and 1.3475 (S3).
Resistance Levels: 1.3536, 1.3551, 1.3566
Support Levels: 1.3506, 1.3491, 1.3475
----------------------------
GBPUSD :
HIGH 1.62001 LOW 1.61625 BID 1.61790 ASK 1.61795 CHANGE -0.1% TIME 08 : 32:57
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High
Upwards scenario: Possible upwards extension above the resistance level at 1.6210 (R1) is liable to commence medium-term bullish structure. Important fractal levels offers next targets at 1.6238 (R2) and 1.6265 (R3) in potential. Downwards scenario: Risk of further correction expansion is seen below the support barrier at 1.6158 (S1). Break here is required to enable our intraday targets at 1.6130 (S2) and 1.6103 (S3) on the downside.
Resistance Levels: 1.6210, 1.6238, 1.6265
Support Levels: 1.6158, 1.6130, 1.6103
----------------------
USDJPY :
HIGH 98.085 LOW 97.639 BID 97.648 ASK 97.651 CHANGE -0.37% TIME 08 : 32:57
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High
Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 98.09 (R1) is required to push the price towards to our next visible targets at 98.33 (R2) and 98.56 (R3). Downwards scenario: As long as price stays below the moving averages our short-term outlook would be negative. Possible extension lower the 97.50 (S1) is being able to drive market price towards to initial supports at 97.25 (S2) and 97.01 (S3).
Resistance Levels: 98.09, 98.33, 98.56
Support Levels: 97.50, 97.25, 97.01
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
Forex Technical & Market Analysis FXCC Oct 03 2013
Forex Technical & Market Analysis FXCC Oct 03 2013
EUR/USD explodes to 1.3624, 8-month peaks
The European Central Bank President Mario Draghi stated on Wednesday that he’ll take any necessary measures to keep the money-market rates in check as he guides Europe’s banks through their early stages of the economic recovery. Draghi stated; “We’ll remain particularly attentive to developments which may have implications to monetary policy and consider all available instruments. We have a vast array of instruments to this extent and we exclude no option in order to address the needs as is most appropriate.” The euro advanced 0.4 percent to $1.3586 late in the New York session, reaching the biggest one-day gain since Sept 18th. The 17 nation shared single currency was 0.2 percent weaker at 132.28 yen after falling as much as 0.9 percent. The yen strengthened 0.6 percent to 97.39 per dollar. The euro strengthened the most in two weeks versus the dollar after European Central Bank President Mario Draghi refrained from signaling that additional measures were needed to boost the region’s recovery.
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX NEWS :
2013-10-03 05:36 GMT | EUR/GBP slightly upwards ahead of crucial UK,EZ data
2013-10-03 05:06 GMT | GBP/USD sits on the fence ahead of UK PMI Services data
2013-10-03 02:16 GMT | EUR/USD triggers stops 1.36+, JPY on the slide
2013-10-03 02:00 GMT | USD/JPY retracing from 97.70 session highs
-----------------
EURUSD :
HIGH 1.36232 LOW 1.35775 BID 1.36065 ASK 1.36069 CHANGE 0.22% TIME 08 : 39:59
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Current price setup might suggest uptrend development in near term perspective. If the price manages to surpass our resistive measure at 1.3623 (R1), we would suggest next targets at 1.3644 (R2) and 1.3665 (R3). Downwards scenario: On the other side, a dip lower the key support measure at 1.3575 (S1) would open a route towards to lower targets at 1.3555 (S2) and 1.3535 (S3).
Resistance Levels: 1.3623, 1.3644, 1.3665
Support Levels: 1.3575, 1.3555, 1.3535
------------------
GBPUSD :
HIGH 1.62409 LOW 1.62206 BID 1.62329 ASK 1.62335 CHANGE 0.07% TIME 08 : 39:59
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: A bullish oriented market participant might pressures to test our next resistance level at 1.6261 (R1). Loss here could open a route towards to our interim target at 1.6292 (R2) and the main aim for today locates at 1.6323 (R3). Downwards scenario: Risk of possible price regress is seen below the support level at 1.6202 (S1). Break here would suggest lower targets at 1.6170 (S2) and 1.6139 (S3) in potential.
Resistance Levels: 1.6261, 1.6292, 1.6323
Support Levels: 1.6202, 1.6170, 1.6139
-------------------------
USDJPY :
HIGH 97.784 LOW 97.251 BID 97.700 ASK 97.702 CHANGE 0.36% TIME 08 : 40:00
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Market commenced recovery phase from the initial downtrend formation. Clearance of our next resistive barrier at 98.05 (R1) would suggest next intraday targets at 98.32 (R2) and 98.59 (R3) in potential. Downwards scenario: Further downside extension might face next supportive barrier at 97.53 (S1). Clearance here is required to open the way towards to interim target at 97.25 (S2) and any further price regress would then be targeting 96.98 (S3).
Resistance Levels: 98.05, 98.32, 98.59
Support Levels: 97.53, 97.25, 96.98
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
Forex Technical & Market Analysis FXCC Oct 04 2013
Forex Technical & Market Analysis FXCC Oct 04 2013
US interest rates could skyrocket
Due to the govt. shutdown there will be no NFP number printed by the BLS on Friday. Two FOMC members hold court in the afternoon session, once again, despite the turmoil in govt. due to the shutdown, investors will be looking for clues with regards to potential tapering of the Fed's $85 billion per month asset purchase scheme. The US Treasury warned on Thursday that the budget impasse between the Republicans and Democrats in Washington risked plunging the world's biggest economy into its worst slump since the Great Depression; "A default would be unprecedented and has the potential to be catastrophic. Credit markets could freeze, the value of the dollar could plummet, US interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse."
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX ECONOMIC CALENDAR :
2011-08-10 06:00 GMT | DE Producer Price Index (MoM) (Aug)
2011-08-10 09:00 GMT | EMU Producer Price Index (YoY) (Aug)
2011-08-10 14:00 GMT | CA Ivey Purchasing Managers Index (Sep)
2011-08-10 17:45 GMT | US Fed Minneapolis's Narayana Kocherlakota speech
FOREX NEWS :
2013-10-04 05:49 GMT | Asian bourses closing on the down side
2013-10-04 04:19 GMT | EUR/GBP sails its way down to 0.8423 session lows
2013-10-04 04:06 GMT | AUD/USD remains resilient amidst a poor risk-off environment
2013-10-04 03:35 GMT | EUR/USD losing momentum? Gains wiped out
-----------------
EURUSD
HIGH 1.36317 LOW 1.36183 BID 1.36259 ASK 1.36263 CHANGE 0.05% TIME 08 : 40:02
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: On the upside EURUSD is limited to the next resistive barrier at 1.3646 (R1). If the price manages to surpass this mark we would suggest next intraday targets at 1.3668 (R2) and 1.3690 (R3). Downwards scenario: Our next support level is placed at important technical level- 1.3607 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial targets at 1.3584 (S2) and 1.3561 (S3) in potential.
Resistance Levels: 1.3646, 1.3668, 1.3690
Support Levels: 1.3607, 1.3584, 1.3561
---------------------
GBPUSD :
HIGH 1.61779 LOW 1.61532 BID 1.61721 ASK 1.61726 CHANGE 0.1% TIME 08:40:03
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: On the upside potential is seen for a break above the resistance at 1.6187 (R1). In such case we would suggest next target at 1.6215 (R2) and any further rise would then be limited to final resistance at 1.6241 (R3). Downwards scenario: Medium term bias is clearly positive however we expect recovery action if the price manages to overcome key supportive bastion at 1.6150 (S1). In such case we would suggest next intraday targets at 1.6125 (S2) and 1.6099 (S3).
Resistance Levels: 1.6187, 1.6215, 1.6241
Support Levels: 1.6150, 1.6125, 1.6099
------------------
USDJPY :
HIGH 97.403 LOW 97.034 BID 97.111 ASK 97.113 CHANGE -0.15% TIME 08 : 40:04
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Mark at 97.50 (R1) acts as next resistive barrier on the way if the pair commence recovery phase. Break here is required to achieve higher targets at 97.80 (R2) and 98.10 (R3) later on today. Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 96.92 (S1). Loss here would suggest to monitor marks at 96.62 (S2) and 96.33 (S3) as possible intraday targets.
Resistance Levels: 97.50, 97.80, 98.10
Support Levels: 96.92, 96.62, 96.33
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
Forex Technical & Market Analysis FXCC Oct 07 2013
Forex Technical & Market Analysis FXCC Oct 07 2013
Yen rises versus major peers early in the Asian session
There were no significant breaks or gaps to the upside or downside as the FX markets opened on Sunday evening. Yen made a modest rise versus the majority of its peers, but at the time of writing had failed to penetrate the significant resistance or support levels. The dollar fell for a fifth week last week, the longest stretch the greenback has experienced such a fall since April 2011, due to Congress failing to agree on a route forward to raise the $16.7 trillion U.S. debt limit, encouraging investors to seek other safe haven assets. The U.S. Dollar Index, tracking the greenback versus its 10 major peer currencies, declined by 0.3 percent last week, (the most in two weeks), to 1,009.98 in New York at the close on Friday. The dollar fell 0.8 percent to 97.48 yen, the third weekly drop. It touched 96.93, the lowest since Aug. 28th. The U.S. currency weakened by 0.3 percent to $1.3558 per euro. The yen strengthened 0.5 percent to 132.14 per euro. Sterling fell by the most last week in the dollar’s 16 most-traded peers, after reaching a nine-month high, the sell off was due to speculation that the U.K. economic recovery isn’t strong enough to warrant the early interest-rate increase the BoE governor Mark Carney had mentioned in earlier press conferences.
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX NEWS :
2013-10-07 05:18 GMT | Asian bourses fall sharply due to US political “jitters”
2013-10-07 04:49 GMT | AUD/USD trading in the upper level ignoring US political “woes”
2013-10-07 03:49 GMT | USD a tad weaker as US shutdown set to extend
2013-10-07 02:37 GMT | EURUSD - Uptrend intact but latest pullbacks raises some concerns - 2ndSkies
----------------
EURUSD :
HIGH 1.35742 LOW 1.35609 BID 1.35680 ASK 1.35685 CHANGE 0.09% TIME 08 : 45:02
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Next barrier on the upside lies at 1.3579 (R1). Surpassing of this level might enable our initial target at 1.3594 (R2) and any further gains would then be limited to last resistive structure at 1.3609 (R3). Downwards scenario: Positive clearance of our key support level at 1.3538 (S1) would enable next target at 1.3523 (S2) en route to our final support for today at 1.3508 (S3).
Resistance Levels: 1.3579, 1.3594, 1.3609
Support Levels: 1.3538, 1.3523, 1.3508
----------------------
GBPUSD :
HIGH 1.60483 LOW 1.60153 BID 1.60325 ASK 1.60329 CHANGE 0.17% TIME 08 : 45:03
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our next resistance level is placed at 1.6050 (R1). Break here would open route towards to higher target at 1.6068 (R2) and any further price advance would then be limited to 1.6086 (R3). Downwards scenario: Failure to establish corrective structure might lead to further downtrend evolvement later on today. Penetration below the support at 1.6005 (S1) would suggest next intraday targets at 1.5987 (S2) and 1.5970 (S3) in perspective.
Resistance Levels: 1.6050, 1.6068, 1.6086
Support Levels: 1.6005, 1.5987, 1.5970
--------------------
USDJPY :
HIGH 97.338 LOW 97.021 BID 97.144 ASK 97.148 CHANGE -0.34% TIME 08 : 45:04
OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Price is consolidating on the hourly timeframe however we see potential to overcome our next resistance level at 97.50 (R1) later on today. Our initial targets locates at 97.73 (R2) and 97.96 (R3). Downwards scenario: On the other hand, prolonged movement below the supportive measure at 96.92 (S1) is required to activate new phase of downtrend expansion. We would suggest next aim at 96.68 (S2) and then final target could be met at 96.45 (S3).
Resistance Levels: 97.50, 97.73, 97.96
Support Levels: 96.92, 96.68, 96.45
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
Forex Technical & Market Analysis FXCC Oct 08 2013
Forex Technical & Market Analysis FXCC Oct 08 2013
Chinese government officials fire off warning to USA treasury
The DJIA closed down 0.90% having experienced a late sell off towards the close of the afternoon session on Monday. As the day unwound any optimism for a solution faded, as did the secular rally enjoyed mid afternoon in the New York session. The SPX followed suit, closing down 0.85% and the NASDAQ closed down 0.98%. In the Chinese government's first public comments on the deadlock, Zhu urged Washington politicians to "learn their lessons from history". A reminder that the US AAA credit rating was downgraded by S&P two years ago after the last debt ceiling standoff. Zhu said; "The United States is totally clear about China's concerns about the fiscal cliff. We ask that the United States earnestly takes steps to resolve in a timely way before October 17 the political [issues] around the debt ceiling and prevent a U.S. debt default to ensure safety of Chinese investments in the United States and the global economic recovery. This is the United States' responsibility."
[url]http://blog.fxcc.com/market-analysis[/url]
FOREX NEWS :
2013-10-08 05:00 GMT | USD/JPY pares earlier losses and strikes back above 97.00
2013-10-08 04:06 GMT | GBP/USD slightly downwards but consolidating yesterday’s gains
2013-10-08 03:28 GMT | USD/CHF pockets gains printing 0.9044 session highs
2013-10-08 01:56 GMT | EUR/USD glued to 1.3568 support
-------------------------
EURUSD :
HIGH 1.35816 LOW 1.35574 BID 1.35616 ASK 1.35618 CHANGE -0.14% TIME 08 : 13:56
OUTLOOK SUMMARY :
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 1.3583 (R1) would enable bullish pressure and open route towards to our next targets at 1.3607 (R2) and 1.3630 (R3). Downwards scenario: Medium-term bias is clearly positive however possible progress below the initial support level at 1.3560 (S1) might expose our intraday targets at 1.3542 (S2) and then 1.3517 (S3) in perspective.
Resistance Levels: 1.3583, 1.3607, 1.3630
Support Levels: 1.3560, 1.3542, 1.3517
----------------
GBPUSD :
HIGH 1.60988 LOW 1.60695 BID 1.60699 ASK 1.60703 CHANGE -0.16% TIME 08 : 13:57
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6099 (R1). A break above it would suggest next intraday target at 1.6122 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6150 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6061 (S1), we expect to see further market decline towards to our next target at 1.6035 (S2) and then next stop could be found at 1.6008 (S3) mark.
Resistance Levels: 1.6099, 1.6122, 1.6150
Support Levels: 1.6061, 1.6035, 1.6008
-------------------
USDJPY :
HIGH 97.134 LOW 96.566 BID 97.056 ASK 97.059 CHANGE 0.36% TIME 08 : 13:58
OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Immediate resistance at 97.29 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 97.58 (R2) and any further rise would then be limited to final resistive measure at 97.87 (R3). Downwards scenario: On the other hand, our next support level aligns at 96.79 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 96.43 (S2) and 96.05 (S3).
Resistance Levels: 97.29, 97.58, 97.87
Support Levels: 96.79, 96.43, 96.05
Source: FX Central Clearing Ltd,( [url=http://www.fxcc.com] http://www.fxcc.com [/url] )
Forex Technical & Market Analysis FXCC Sep 24 2013
