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Daily Forex Market by FXCC 10Feb2012

Discussion in 'Market Predictions and Reports' started by alayoua, Feb 10, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 10Feb2012

    The 17-nation euro heads for its biggest 5 day advance versus the yen in over 17 weeks.

    The euro was at $1.3276 as of 9:40 a.m. in Tokyo from $1.3286 in New York yesterday, when it reached $1.3322, the highest level since Dec. 12. It fetched 103.14 yen from 103.19. It climbed to as high as 103.29 yen yesterday, the strongest level since Dec. 12. Japan’s currency was little changed at 77.70 per dollar after earlier sliding to as low as 77.75, the weakest level since Jan. 26. The so-called Aussie lost 0.3 percent to $1.0754 and retreated 0.2 percent to 83.57 yen. The euro is set to rise 0.9 percent against the dollar this week. The shared currency is poised for a 2.4 percent gain versus the yen, the biggest since the week through Oct. 14. The GBP/USD upwards movement from 1.5790 was capped at 1.5882 with the pair falling around 65 pips to arrest at a support level at 1.5815.

    UPCOMING EVENTS
    2012-02-10 07:00 GMT | Germany Consumer Price Index (YoY) (Jan)
    2012-02-10 08:15 GMT | Switzerland Consumer Price Index (MoM) (Jan)
    2012-02-10 08:15 GMT | Switzerland Consumer Price Index (YoY) (Jan)
    2012-02-10 09:30 GMT | UK - Producer Price Index - Input (YoY) n.s.a (Jan)

    FOREX NEWS
    2012-02-10 05:36 GMT | GBP/USD under pressure ahead of Europe
    2012-02-10 04:16 GMT | Aussie weaker vs. majors
    2012-02-10 03:05 GMT | China Jan Trade Balance increase to 27.3B
    2012-02-10 00:19 GMT | EUR/CAD hits resistance ahead of 1.3250

    EURUSD 1.32455 / 1.32458
    DAILY WEEKLY MONTHLY
    High: 1.32907 | Low: 1.3245 | Chg: -0.0038 -0.28%

    [​IMG]

    Resistance Levels :1.3432 | 1.3395 | 1.3367 | 1.3322
    Support Levels : 1.3215 | 1.3167 | 1.3096 | 1.3055

    SUMMARY : up
    TREND : up trend
    MA10 : bearish
    MA20 : Bearish
    STOCHASTIC : neutral


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD continued to rise from 1.3215 (S1) and reached a high yesterday at 1.3322 (R1). It seems the pair will re-test a high soon. If the price will have enough momentum we can expect a rise towards 1.3322 (R1) and then a focus on 1.3367 (R2), a strong technical and psychological level. Our recommendation for today’s trading session is no position as we do not have a clear trend direction.

    -
    GBPUSD 1.57729 / 1.57734
    DAILY WEEKLY MONTHLY
    High: 1.5819 | Low: 1.57669 | Chg: -0.0041 -0.26%

    [​IMG]

    Resistance Levels :1.6023 | 1.5977 | 1.5929 | 1.5885
    Support Levels : 1.5723 | 1.5677 | 1.5612 | 1.5578

    SUMMARY : neutral
    TREND : sideway
    MA10 : bearish
    MA20 : Bearish
    STOCHASTIC : neutral


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD fell yesterday and was supported close to 1.5723 (S1). It seems it will be retesting that level again. A break below that level will trap the pair in a trading range. We remain flat for today’s trading session until we see a break-out upwards or downwards. No position.

    -
    USDJPY 77.661 / 77.666
    DAILY WEEKLY MONTHLY
    High: 77.75 | Low: 77.519 | Chg: 0.019 0.02%

    [​IMG]

    Resistance Levels : 79.26 | 78.89 | 78.28 | 77.76
    Support Levels : 77.19 | 76.83 | 76.22 | 75.78

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


    MARKET ANALYSIS - Intraday Analysis

    USDJPY rose yesterday and formed a top at 77.76 (R1). A break above that level will then focus attention on 78.28 (R2) a technical level for a trend reversal. If we switch our timeframe to H4 we can see the price is approaching the record high for the year of 77.28 and a break above that level, brings the possibility for a break out and trend reversal for an uptrend. We remain at no positions at the moment until we see a break out upwards or if the above scenario fails then obviously we are still trapped in a trading range. No position.

    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/10022012
     

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