1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Daily Forex Market by FXCC 02Apr2012

Discussion in 'Market Predictions and Reports' started by alayoua, Apr 2, 2012.

  1. alayoua

    alayoua Banned

    Joined:
    Jul 19, 2011
    Messages:
    0
    Likes Received:
    0
    Daily Forex Market by FXCC 02Apr2012

    EUR/USD still below 1.3350; PMI, employment data eyed

    EUR/USD has been little changed after giving up the early upside advantage at the weekly opening, having started the day at 1.3360, then trading down to a session low of 1.3330 during the Asia-Pacific hours, last at 1.3340/45 versus 1.3335 late Friday.In the European session ahead, the Purchasing Manager Index Manufacturing data for March is due at 0758 GMT, expected to remain in contractionary territory. About two hours later, the February Unemployment Rate will be released, with surveyed economists anticipating an increase in the rate by 0.1% to 10.8%.

    For the past two weeks EUR/JPY has been range bound between 108.45 and 111.45, last quoted near the top of the range at 110.95 this hour in Asia as it operates around the 111.00 figure, up from 110.40 late Friday.The Australian dollar has fallen to fresh session lows against the greenback this Monday in Asia after disappointing building approval numbers for February were released by the Australian Bureau of Statistics. AUD/USD slid sharply from pre-data 1.0415, to lows below the 1.0400 mark, last at 1.0395 versus 1.0365 late Friday, still up 0.4% on the day.
    Read More
    https://support.fxcc.com/email/technical/02042012/

    UPCOMING EVENTS
    2012-04-02 07:15 GMT | Switzerland Real Retail Sales (YoY) (Feb)
    2012-04-02 07:53 GMT | GermanyPurchasing Manager Index Manufacturing (Mar)
    2012-04-02 07:58 GMT | European Monetary Union Purchasing Manager Index Manufacturing (Mar)
    2012-04-02 10:01 GMT | European Monetary Union Unemployment Rate (Feb)

    FOREX NEWS
    2012-04-02 04:01 GMT | GBP/USD at session lows below 1.6000
    2012-04-02 02:57 GMT | EUR/JPY trading sideways around 111.00
    2012-04-02 01:58 GMT | EUR/USD closes the opening gap
    2012-04-02 01:30 GMT | Australia Feb Building Permits (MoM) -7.8%

    --------------
    EURUSD : 1.33381 / 1.33388
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.3548 | 1.3498 | 1.3451 | 1.3382
    1.3308 | 1.3260 | 1.3220 | 1.3177

    SUMMARY : Up
    TREND : Up trend
    MA10 : Bullish
    MA20 : Bullish
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    EURUSD after a short consolidation, continue to rise from Friday’s support level of 1.3260(S2) and has reached a high at 1.3382 (R1) so far. If we switch to an H4 timeframe, we can see that the pair is going through another consolidation and if the pair manages to hold above 1.3308 (S1) we can expect a further rise and retest towards our first resistance level at 1.3382 (R1). A break above that level would suggest target at 1.3451 (R2). On the other hand, if the price does not manage to break above 1.3382 (R1) we can expect the price to move downwards and retest the first support level at 1.3308 (S1) and a deeper decline could be then supported at 1.3260 (S2).

    ---------------
    GBPUSD : 1.59924 / 1.59935
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.6178 | 1.6129 | 1.6071 | 1.6036
    1.5943 | 1.5882 | 1.5842 | 1.5805

    SUMMARY : Up
    TREND : Up trend
    MA10 : Neutral
    MA20 : Bearish
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD moved upwards and formed a lower high at 1.6030 and after that the price fell retesting Friday’s support level. A break below 1.5943 (S1) would suggest target at 1.5882 (S2) and further fall will then be limited at 1.5842 (S3). On the other hand if the pair find a strong momentum to the upwards we expect the price to retest 1.6036 (R1) a significant level for the bulls as a break above that level would suggest target at 1.6071 (R2).

    --------------
    USDJPY : 83.040 / 83.044
    DAILY WEEKLY MONTHLY

    [​IMG]

    84.67 | 84.09 | 83.77 | 83.31
    82.54 | 81.83 | 81.43 | 80.97

    SUMMARY : Up
    TREND : Up trend
    MA10 : Bullish
    MA20 : Bullish
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    USDJPY rebounded from 81.83 (S2) and made a sharp move upwards successfully penetrating our first resistance level and closed just below of our second level. It now seems the pair is doing a small correction before it continues its move upwards towards 83.77 (R2). A proper confirmation for long positions will be when the price manages to break above our first resistance level. A stop loss should be placed above 81.83 (S2)

    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
     

Share This Page