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Daily Forex Market by FXCC 06Feb2012

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

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 06Feb2012

    The euro weakened versus 13 of its 16 major counterparts

    USD/JPY opened the Asian trading session on Monday morning with an upside-gap price of 76.59, up from 76.54 Friday down from the recent (4-day high) of 76.13 printed last week. The euro fell 0.2 percent to $1.3129 as of 8:15 a.m. in Tokyo from the close in New York on Feb. 3. It lost 0.3 percent to 100.50 yen. GBP/USD has traded a limited 1.5785/1.5823 range at the start of trading this Monday, last at 1.5800.

    AUD/USD has been slowly declining since Tokyo opened at 00:00 GMT. Data for both retail sales and jobs ads were disappointing in Aus., retail sales fell -0.1% expected to come in positive +0.2%, newspaper job ads fell -2.6% internet job ads rose +6.4. USD/CAD. After falling around 100 pips from its intra-day high at 1.0040, the Dollar has found support versus the Canadian at the lowest level seen since October 31 at 0.9930.
    Read More

    UPCOMING EVENTS
    2012-02-06 00:31 GMT | Australia Retail Sales s.a. (MoM) (Dec)
    2012-02-06 08:00 GMT | United Kingdom Halifax House Prices (3m/YoY) (Jan)
    2012-02-06 09:30 GMT | EU - Sentix Investor Confidence (Feb)
    2012-02-06 11:00 GMT | Germany Factory Orders s.a. (MoM) (Dec)

    FOREX NEWS
    2012-02-06 05:43 GMT | GBP/USD pressured in risk-off Asia
    2012-02-06 03:38 GMT | AUD/USD trades down to 1.0700
    2012-02-06 00:32 GMT | Australia ANZ Job Advertisements 6% in Jan
    2012-02-06 00:31 GMT | Australia Dec Retail Sales s.a. (MoM) -0.1%

    --------------
    EURUSD 1.30599 / 1.30605
    DAILY WEEKLY MONTHLY
    High: 1.31307 | Low: 1.30545 | Chg: -0.0097 -0.74%

    [​IMG]

    1.3274 | 1.3241 | 1.3205 | 1.3167
    1.3026 | 1.2986 | 1.2947 | 1.2909

    SUMMARY : Down
    TREND : down trend
    MA10 : bearish
    MA20 : Bearish
    STOCHASTIC : overbought


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD continued to rise from 1.3026 (S1) and reached a high yesterday at 1.3205 (R2). It seems the pair is moving downwards and it will retest the first support 1.3026 (S1) soon. A break below that level would suggest a target of 1.2986 (S2) and a further decline will then focus on the next target at 1.2947 (S3). On the upside, if the price rebounds from the first support level 1.3026 (S1) we can expect retesting of 1.3167 (R1). A further rise will then bring focus to the next resistance level at 1.3205 (R2).

    --------------
    GBPUSD 1.57723 / 1.57738
    DAILY WEEKLY MONTHLY
    High: 1.58217 | Low: 1.5765 | Chg: -0.0044 -0.28%

    [​IMG]

    1.5913 | 1.5882 | 1.5860 | 1.5831
    1.5749 | 1.5704 | 1.5653 | 1.5615

    SUMMARY : Down
    TREND : down trend
    MA10 : bearish
    MA20 : Bearish
    STOCHASTIC : neutral


    MARKET ANALYSIS - Intraday Analysis

    The GBPUSD is under bearish pressure as it is approaching towards a crucial support level 1.5749 (S1). The pair reached a high at 1.5882 (R3) and then fell back towards 1.5749 (S1). Further fall will test 1.5704 (S2) and decline below this level, suggesting target at 1.5653 (S3). On the other hand, if price manages to stay above 1.5749 (S1) then we expect the price to retest 1.5831 (R1) and then further rise to 1.5860 (R2). We look for short positions in today’s session with a stop loss above 1.5831 (R1).

    --------------
    USDJPY 76.705 / 76.708
    DAILY WEEKLY MONTHLY
    High: 76.802 | Low: 76.494 | Chg: 0.118 0.15%

    [​IMG]

    77.97 | 77.58 | 77.29 | 76.89
    76.01 | 75.54 | 75.05 | 74.69

    SUMMARY : up
    TREND : up trend
    MA10 : Bullish
    MA20 : bullish
    STOCHASTIC : overbought


    MARKET ANALYSIS - Intraday Analysis

    USDJPY rise sharply on Friday (70 pips) and made a top at 76.74. If it breaks above first resistance level 76.89 (R1) we can expect the price to approaches towards 77.29 (R1). Be on the alert for a correction downwards towards 76.49 and then a continuation to an upward move. Both of our Moving Averages are pointing to a bullish signal. We believe that the bullish pressure will continue.


    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/06022012
     

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