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Daily Forex Market by FXCC 06Apr2012

Discussion in 'Market Predictions and Reports' started by alayoua, Apr 6, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 06Apr2012

    EUR/USD flat in Asia around 1.3070

    EUR/USD had a little lift ahead of Shanghai open from session lows 1.3153 up to current 1.3069, and that was about it. Trapped in a tiny spread of 3 pips for the last two hours, the pair just sits above NY highs, holding onto some -0.53% from yesterday's Asian open, with Australia, New Zealand, Hong-Kong and Singapure on holidays for current session. The day ahead shows a blank agenda for the London session as both UK and Europe mainland will be closed on holidays, and main risk event will be US NFP at 12:30 GMT which is expected widely above the +200k figure for jobs added in the non farm payroll

    With Tokyo the largest FX trading center open during the Asia-Pacific session, the USD/JPY pair is getting some modest action in an otherwise comatose start to trading this Friday due to the upcoming Easter holiday.
    Read More
    https://support.fxcc.com/email/technical/06042012/

    UPCOMING EVENTS
    2012-04-06 06:45 GMT | France Trade Balance EUR (Feb)
    2012-04-06 12:30 GMT | United States Nonfarm Payrolls (Mar)
    2012-04-06 12:30 GMT | United States Average Hourly Earnings (MoM) (Mar)
    2012-04-06 12:30 GMT | United States Unemployment Rate (Mar)

    FOREX NEWS
    2012-04-06 05:06 GMT | Japan Coincident Index increase to 93.7 in Mar
    2012-04-06 05:04 GMT | Japan: Leading Economic Index (Feb): 96.6
    2012-04-06 02:10 GMT | EUR/AUD paused above 8-day low 1.2660
    2012-04-06 00:56 GMT | EUR/USD holds above 1.3050 after overnight push down

    ------------------
    EURUSD : 1.30754 / 1.30763
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.3341 | 1.3248 | 1.3205 | 1.3107
    1.3035 | 1.3000 | 1.2951 | 1.2911

    SUMMARY : Down
    TREND : Down trend
    MA10 : Neutral
    MA20 : Neutral
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    EURUSD fell below our first support and formed a new bottom at 1.3035 (S1). After that the price rise and closed below the first resistance level. We expect the EURUSD to find a strong support around 1.3000 (S2) as it is a strong technical and psychological level for the bulls. We might see a correction upwards and then a continuation of the downtrend or we can see a continuation of the downtrend without a correction. Our recommendations for today’s trading session is no positions as in the last 3-4 sessions we got around 250 pips of profit on this pair and it is better to wait until we see which of the bulls of the bear will win the battle. No position.

    ----------------
    GBPUSD : 1.58562 / 1.58578
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.6063 | 1.6016 | 1.5965 | 1.5909
    1.5804 | 1.5751 | 1.5703 | 1.5643

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


    MARKET ANALYSIS - Intraday Analysis

    The GBPUSD fell and formed a strong support at 1.5804 (S1) a significant technical and psychological level. Following that, the price rise and now is moving below the first resistance level. The same with this pair as since this week we made around 250 pips in profit we remain flat as we expect the pair to find a strong support at 1.5804 (S1). Now it is very important what the bearish have in mind and if the traders will hold their short positions against the GBP. No position.

    ----------------
    USDJPY : 82.251 / 82.256
    DAILY WEEKLY MONTHLY

    [​IMG]

    84.00 | 83.31 | 82.98 | 82.43
    81.82 | 81.54 | 81.05 | 80.55

    SUMMARY : Down
    TREND : Down trend
    MA10 : Neutral
    MA20 : Neutral
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    The USDJPY fell and formed a new low at 81.82 (S1). Following that the price rise and closed just below of today’s resistance level. A break above 82.43 level would suggest target at 82.98 (R2) and further rise will then be limited at 83.31 (R3). On the other hand a break below 81.82 would suggest target at 81.05 (S3). A stop loss in both cases should be placed around 50 pips away from support or resistance level.

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

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