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Daily Forex Market by FXCC 09Feb2012

Discussion in 'Market Predictions and Reports' started by alayoua, Feb 9, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 09Feb2012

    Australia’s dollar reached C$1.0784 on Wednesday, its highest level versus the loonie since May 1997.

    The euro fell 0.1 percent to $1.3245 as of 8:30 a.m. in Tokyo from the close in New York yesterday. The European currency declined 0.1 percent to 102.03 yen. The dollar was unchanged at 77.04 yen. The pound was little changed at $1.5811 after losing 0.5 percent yesterday. USD/CHF has been consolidating since a sell off around the 0.9100 area on Tuesday, trading a limited range between 0.9104 and 0.9148 overnight and then through Wednesday before ending the trading session in New York virtually unchanged, at 0.9120.
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    UPCOMING EVENTS
    2012-02-09 01:30 GMT China Consumer Price Index (YoY) (Jan)
    2012-02-09 12:00 GMT United Kingdom BoE Interest Rate Decision (Feb 9)
    2012-02-09 12:00 GMT United Kingdom BoE Asset Purchase Facility (Feb)
    2012-02-09 12:45 GMT EU - ECB Interest Rate Decision (Feb 9)

    FOREX NEWS
    2012-02-09 05:02 GMT | Japan: Consumer Confidence Index (Jan): 40
    2012-02-09 01:04 GMT | China PPI (YoY) improves to 2.7% in Jan from 1.7%
    2012-02-09 01:04 GMT | China Jan Consumer Price Index (YoY) rises to 4.2%
    2012-02-09 00:34 GMT | AUD/JPY gently offered; off 4-month highs

    --------------
    EURUSD 1.32997 / 1.33004
    DAILY WEEKLY MONTHLY
    High: 1.33124 | Low: 1.32149 | Chg: 0.0039 0.29%

    [​IMG]

    Resistance Levels: 1.3431 | 1.3398 | 1.3375 | 1.3340
    Support Levels : 1.3205 | 1.3162 | 1.3096 | 1.3026

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


    MARKET ANALYSIS - Intraday Analysis

    EURUSD managed to stay above 1.3242 after the breakout and now it seems that is moving upwards with a strong bullish momentum. The next upward target is set at 1.3340 (R1) and will then focus on 1.3375 (R2). Look for long positions in today’s trading session as we expect the EURUSD to continue its uptrend move.

    ---------------
    GBPUSD 1.58376 / 1.58388
    DAILY WEEKLY MONTHLY
    High: 1.58476 | Low: 1.57926 | Chg: 0.0022 0.14%

    [​IMG]

    Resistance Levels: 1.5989 | 1.5964 | 1.5929 | 1.5869
    Support Levels : 1.5788 | 1.5729 | 1.5704 | 1.5655

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


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD found a strong support at 1.5788 (S1) level and now the pair seems to be heading towards level 1.5869 (R1) for a retest. A break above that level would suggest a target of 1.5929 (R2) record high since October 2011 and a further rise will then focus on the next target at 1.5964 (R3) a technical and psychological level. Look for long positions as both of our Moving Averages turned bullish.

    ----------------
    USDJPY 77.196 / 77.198
    DAILY WEEKLY MONTHLY
    High: 77.233 | Low: 77.004 | Chg: 0.166 0.22%

    [​IMG]

    Resistance Levels : 78.71 | 78.39 | 77.93 | 77.56
    Support Levels : 76.83 | 76.49 | 76.25 | 76.01

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


    MARKET ANALYSIS - Intraday Analysis

    USDJPY gained momentum and formed higher bottoms and now is moving towards 77.56 (R1) a technical and psychological resistance level for the bullish. A break above that level, can expect the price to retest 77.93 (R2). On the downside, decline below 76.83 will confirm our short positions towards 76.25 (S3) and then 76.01 (S4).


    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/09022012
     

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