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Daily Forex Market by FXCC 15Mar2012

Discussion in 'Market Predictions and Reports' started by alayoua, Mar 15, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 15Mar2012

    EUR/USD on the bounce from fresh 3-week lows

    EUR/USD is on the bounce from fresh 3-week lows at 1.3003 since Hong Kong opened, rising a modest +0.23%, sending the pair back to previous NY close prices, and yesterday's Asian trade lows, around 1.3035.The Japanese yen is tumbling against a formidable U.S. dollar Thursday, seen gaining on its major trading counterparts across the board in the Asia-Pacific. USD/JPY is quoted in the 84.15 price zone, having pushed above psychological resistance at the 84.00 figure in recent minutes.

    EUR/AUD is currently at 1.2454, trading at same exact price as it was doing 2 weeks ago during Feb 23, and earlier on by Jan 25 and 05 when for first time was heading lower to all time record lows at 1.2131. EUR/JPY is currently pushing lower at 109.44 off recent session and 12-day high at 109.63, just 11 pips below of that first multi month high Feb 27 post BoJ intervention late October past year.
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    https://support.fxcc.com/email/technical/15032012/

    UPCOMING EVENTS
    2012-03-15 08:30 GMT | Switzerland SNB Interest Rate Decision
    2012-03-15 09:00 GMT | European Monetary Union ECB Monthly Report
    2012-03-15 10:00 GMT | EU - Employment Change (QoQ) (Q4)
    2012-03-15 10:00 GMT | EU - Employment Change (YoY) (Q4)

    FOREX NEWS
    2012-03-15 00:58 GMT | EUR/USD consolidates above 1.3000, support at 1.2970
    2012-03-15 00:43 GMT | Australia Feb New Motor Vehicle Sales (YoY) 1.7%
    2012-03-15 00:34 GMT | Australia New Motor Vehicle Sales (MoM) 0% in Feb
    2012-03-15 00:00 GMT | Australia Consumer Inflation Expectation 2.7% in Mar

    ---------
    EURUSD : 1.30455 / 1.30465
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.3344 | 1.3291 | 1.3192 | 1.3078
    1.3000 | 1.2955 | 1.2912 | 1.2870

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


    MARKET ANALYSIS - Intraday Analysis

    EURUSD the pair formed a high at 1.3291 (R3) then fell for 4 consecutive days and formed a bottom at 1.3000 (S1) a significant technical and psychological level. A break below that level will confirm our short positions targeting 1.2955 (S2) and a further fall with then be limited to 1.2912 (S3). On the other hand if the price manages to stay above the 1.3000 (S1) level we expect a retest of 1.3078 (R1) and if a break happens above that level we expect the price to move towards next upwards objective at 1.3192 (R2) and to give a "big breather" to the bulls as the 1.3000s levels are crucial to them.

    ---------
    GBPUSD : 1.56542 / 1.56558
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.5871 | 1.5834 | 1.5788 | 1.5744
    1.5601 | 1.5574 | 1.5521 | 1.5486

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


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD made a sharp move upwards and successfully broke above our resistance level of 1.5695 ending our day with a loss (-45 pips). After that the price fell and now seems to be moving closer to our supports levels. A break below 1.5601 (S1) would suggest a target at 1.5574 (S2). On the other hand if the pair gains momentum upwards we expect the price to retest the 1.5744 (R1) level. Look for short positions below 1.5600 levels.

    ---------
    USDJPY : 83.823 / 83.831
    DAILY WEEKLY MONTHLY

    [​IMG]

    85.29 | 84.93 | 84.69 | 84.17
    83.57 | 82.63 | 81.95 | 81.46

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


    MARKET ANALYSIS - Intraday Analysis

    USDJPY rise and successfully penetrated our second and third resistance confirming short position towards our targets at 84.15 gaining 95 pips of profit!!! After forming a top at our resistance level at 84.17 (R1) the price began to fall this morning and was able to come close to yesterday’s support level at 83.57 (S1). A break below that level would suggest a target at 82.63 (S2). On the other hand a break above 84.17 (R1) would suggest target at 84.69 (R2).


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

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