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Daily Forex Market by FXCC 11Apr2012

Discussion in 'Market Predictions and Reports' started by alayoua, Apr 11, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 11Apr2012

    EUR/USD below 1.3100

    EUR/USD has been thru a quiet up and down 30 pip range session this Wednesday in Asia, currently holding onto 10 pip gains over initial opening price last at 1.3090, finding resistance so far at session highs 1.3096, and support at session lows 1.3067. All local share markets are deep in the red, with Nikkei near session lows below the 9400 points mark, losing -1.53% for the day.The GBP/USD pair has gotten a moderate boost so far this Wednesday following a better than expected BRC retail sales reading in the year to March, pushing the pair slightly up to as session high of 1.5878 vs. 1.5860 late Tuesday in New York.

    EUR/JPY is attempting to muster a recovery from its recent dip to fresh 2-month lows, having climbed to as high as 105.77 this Wednesday in Asia from an earlier low of 105.43, a price not seen since the 22nd day of February.
    Read More
    https://support.fxcc.com/email/technical/11042012/

    UPCOMING EVENTS
    2012-04-11 07:00 GMT | Hungary Consumer Price Index (YoY) (Mar)
    2012-04-11 07:00 GMT | Denmark Industrial Production (MoM) (Feb)
    2012-04-11 08:00 GMT | Norway Manufacturing Output (Feb)
    2012-04-11 12:15 GMT | Canada Housing Starts s.a (YoY) (Mar)

    FOREX NEWS
    2012-04-11 03:16 GMT | USD/JPY limited between 80.59/80.8220
    2012-04-11 03:00 GMT | EUR/JPY set for bullish correction EUR/JPY set for bullish correction
    2012-04-11 01:42 GMT | AUD/USD on new session highs above 1.0260
    2012-04-11 01:30 GMT | Australia Home Loans -2.5% in Feb

    ---------------
    EURUSD : 1.30989 / 1.30995
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.3382 | 1.3341 | 1.3248 | 1.3145
    1.3035 | 1.3000 | 1.2951 | 1.2903

    SUMMARY : Neutral
    TREND : Sideway
    MA10 : Neutral
    MA20 : Bullish
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD didn’t make any significant moves in yesterday’s trading session as it moved between the first support and resistance level. A break in either direction will determine the trading bias in today`s session. A break below 1.3035 will confirm our short positions targeting 1.3000 (S2) and a further fall will be limited to 1.2951 (S3). On the other hand, if the pair breaks above the first resistance level of 1.3145 (R1), we would expect the price to retest 1.3248 (R2) and a further rise will then focus at 1.3341(R3).

    ---------------
    GBPUSD 1.58850 / 1.58861
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.6098 | 1.6063 | 1.6016 | 1.5931
    1.5804 | 1.5763 | 1.5704 | 1.5651

    SUMMARY : Neutral
    TREND : Sideway
    MA10 : Bullish
    MA20 : Bullish
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD couldn’t hold in yesterday’s trading session and fell, breaking below our support level and forming a new low at 1.5804 (S1). A break below that level would suggest a target at 1.5763 (S2) and a further fall will focus attention on 1.5704 (S3) a significant technical and psychological level. On the other hand if the pair moves upwards and manages to break above 1.5931 (R1), we expect the price to retest 1.6016 (R2) and further rise will then be limited at 1.6063 (R3).

    ---------------
    USDJPY : 80.865 / 80.868
    DAILY WEEKLY MONTHLY

    [​IMG]

    82.98 | 82.43 | 81.82 | 81.18
    80.63 | 79.96 | 79.50 | 79.11

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


    MARKET ANALYSIS - Intraday Analysis

    After the USDJPY formed a top at 81.82 the price fell and broke below yesterday’s support levels closing below 81.18 (R1). A break above that level would suggest target at 81.82 (R2) a strong technical level for the bears. On the other hand if price fails to move above first resistance we expect the price to retest 80.63 (S1) yesterday’s low. A break below that level would suggest target at 79.96 (S2) and further fall will then focus at 79.50 (S3).

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

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