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 06Mar2012

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

  1. alayoua

    alayoua Banned

    Joined:
    Jul 19, 2011
    Messages:
    0
    Likes Received:
    0
    EUR/USD drops below 1.3200 after RBA

    The EUR/USD is back under pressure again on broad USD strength following the Reserve Bank of Australia’s decision to leave rates on hold at 4.25% and accompanying Statement on Monetary Policy.The paring has posted a fresh session low at 1.3187 from an earlier high of 1.3225 and now trades at 1.3192, recording a 0.20% loss so far in Asia-Pacific trading. GBP/USD operated within a tight 1.5845/80 range during the Asian session, now quoted near the session low at the 1.5850 price zone, down around 10 pips from its starting price this Tuesday. USD/JPY is under gently pressure in Asia, with the pair now quoted near its session low at 81.43 from 81.54 at the close of the American session.

    The Australian dollar has been placed under significant selling pressure this Tuesday, after the Reserve Bank of Australia (RBA) decided to keep its monetary policy unchanged at 4.25 percent and after traders digested the accompanying statement, which was markedly dovish. AUD/JPY has pulled back sharply from a session high of 87.11 to a low of 86.60
    Read More
    https://support.fxcc.com/email/technical/06032012

    UPCOMING EVENTS
    2012-03-06 01:30 GMT | Japan Labor Cash Earnings (YoY) (Jan)
    2012-03-06 03:30 GMT | Australia RBA Interest Rate Decision (Mar 6)
    2012-03-06 10:00 GMT | EU - Gross Domestic Product s.a. (QoQ) (Q4)
    2012-03-06 10:00 GMT | EU - Gross Domestic Product s.a. (YoY) (Q4)

    FOREX NEWS
    2012-03-06 03:30 GMT | Australia - RBA Interest Rate Decision remains at 4.25%
    2012-03-06 01:31 GMT | Japan Labor Cash Earnings (YoY) 0% in Jan
    2012-03-06 00:31 GMT | Australia 4Q Current Account Balance -8.37B
    2012-03-06 00:01 GMT | UK - BRC Retail Sales Monitor - All (YoY) steadies at -0.3%

    -------------
    EURUSD : 1.32038 / 1.32045
    DAILY WEEKLY MONTHLY



    1.3424 | 1.3362 | 1.3280 | 1.3240
    1.3159 | 1.3108 | 1.3027 | 1.2969

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


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD fell and formed a bottom at 1.3159 and then rose as mentioned in yesterday’s analysis. It seems that the price will retest our first support soon at 1.3159 (S1). A break below that level would suggest a target of 1.3108 (S2) and possibilities of a trend reversal in the daily chart. On the other hand if the price manages to stay above 1.3159 (S1) we can expect the price to retest 1.3240 (R1) yesterday’s high. A break above that level will concentrate our focus on 1.3280 (R2) a technical and psychological level as it will indicate a continuation of the uptrend (daily).

    --------------
    GBPUSD : 1.58578 / 1.58589
    DAILY WEEKLY MONTHLY



    1.6068 | 1.6029 | 1.5991 | 1.5896
    1.5782 | 1.5731 | 1.5680 | 1.5633

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


    MARKET ANALYSIS - Intraday Analysis

    After the pair formed a top at 1.5991 (R2) a yearly high, the GBPUSD fell and was able to break below yesterday’s support forming a new one at 1.5782 (S1). A break below the 1.5782 level would suggest a target of 1.5731 (S2). On the other hand if the price finds a strong momentum and breaks above our first resistance at 1.5896 (R1), we can expect the pair to retest 1.5991 (R2).

    --------------
    USDJPY : 81.330 / 81.338
    DAILY WEEKLY MONTHLY



    83.40 | 82.79 | 82.22 | 81.87
    81.14 | 80.78 | 80.24 | 79.85

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


    MARKET ANALYSIS - Intraday Analysis

    The USDJPY rebounded from 81.87 (R1) a yearly high and then fell, forming a bottom at 81.14 (S1). A break below the first support level 81.14 (S1) would suggest a target of 80.78 (S2) and a further fall will be limited to 80.24 (S3). On the other hand, if the price holds its momentum on the upside we can expect a rise and retest towards 81.87 (R1) a strong technical resistance level – year high. A further rise will then bring focus to the next resistance level at 82.22 (R2).

    Source: FX Central Clearing Ltd, (http://www.fxcc.com)
     
    #1 alayoua, Mar 6, 2012
    Last edited: Mar 7, 2012

Share This Page