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Daily Forex Market by FXCC 18Jan2012

Discussion in 'Market Predictions and Reports' started by alayoua, Jan 18, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 18Jan2012
    The dollar fell versus the euro in early trading

    The dollar was little changed at 1.2741 per euro as of 8:30 a.m. in Tokyo after falling 0.5 percent yesterday. The yen fetched 97.88 per euro after a 0.6 percent decline yesterday. USD/JPY broke support at circa 76.60 to reach a fresh 3-month low of 76.54 on Tuesday, recovering to end the American session at 76.82. The pound declined 0.4 percent to 83 pence per euro at 5:03 p.m. London time, after rising 1.1 percent over the previous two days. The currency slid 0.6 percent to A$1.4767 after falling to A$1.4713, the weakest since February 1985. Sterling strengthened 0.2 percent to $1.5348.

    Canada’s currency touched C$1.0113 per U.S. dollar, the strongest since Jan. 4. It ended 0.3 percent higher at C$1.0151 in Toronto. One Canadian dollar purchases 98.51 U.S. cents. The Australian Dollar is approaching 1.0370, after it recovered from a dip which halted ahead of 1.0350. AUD/USD retreated 100 pips from its daily highs seen on Tuesday. AUD/USD peaked at a 2 ½-month high of 1.0447 before Wall Street opening, but then dropped nearly 100 pips throughout the NY session.
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    UPCOMING EVENTS
    2012-01-18 04:30 GMT | Japan - Industrial Production (YoY) (Nov)
    2012-01-18 09:30 GMT | UK - ILO Unemployment Rate (3M) (Jan)
    2012-01-18 09:30 GMT | UK - Average Earnings including Bonus (3Mo/Yr) (Nov)
    2012-01-18 09:30 GMT | UK - Claimant Count Change (Dec)

    FOREX NEWS
    2012-01-18 04:36 GMT | Japan Nov Industrial Production (YoY) -4.2%
    2012-01-18 04:34 GMT | Japan Capacity Utilization -2.9% in Nov
    2012-01-18 04:34 GMT | Japan Industrial Production (MoM) -2.7% in Nov
    2012-01-18 00:34 GMT | Australia Dec New Motor Vehicle Sales (YoY) -3%



    EURUSD 1.27906 / 1.27910
    DAILY WEEKLY MONTHLY
    High: 1.27927 | Low: 1.27333 | Chg: 0.0055 0.43%

    [​IMG]

    1.2944 | 1.2878 | 1.2843 | 1.2807
    1.2711 | 1.2647 | 1.2624 | 1.2592

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


    MARKET ANALYSIS - Intraday Analysis

    After price formed bottom at 1.2624 (S3) EURUSD was able to break above 1.2711 (S1) and now has found a strong resistance at 1.2807 (R1). If we take a look in the short term time frame, the price is heading close to the downtrend trend line 1.2843 (R2). A break above that level will be suggesting target at 1.2878 (R3) and possibilities for a trend reversal. On the other hand if price fails to break above 1.2807 (R1) we will then expect the price to retest 1.2711 (S1) and then further decline towards 1.2647 (S2). We are in a very crucial level as it is a possibility to either have a continuation of the downtrend or a breakout and trend reversal.

    GBPUSD 1.53709 / 1.53718
    DAILY WEEKLY MONTHLY
    High: 1.53745 | Low: 1.53264 | Chg: 0.0035 0.23%

    [​IMG]

    1.5579 | 1.5527 | 1.5487 | 1.5409
    1.5278 | 1.5233 | 1.5203 | 1.5164

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


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD formed higher bottoms and now is moving towards 1.5409 (R1) a technical and psychological resistance level for the bullish. A break above that level, it will be a proper conformation for long positions as we expect the price to retest 1.5487 (R2). On the downside, decline below 1.5320 will be confirmed the short positions towards 1.5278 (S1) and then 1.5233 (S2).

    USDJPY 76.693 / 76.699
    DAILY WEEKLY MONTHLY
    High: 76.844 | Low: 76.653 | Chg: -0.133 -0.17%

    [​IMG]

    78.03 | 75.56 | 77.33 | 77.05
    76.55 | 76.03 | 75.54 | 75.13

    SUMMARY : Down
    TREND : down trend
    MA10 : bearish
    MA20: Bearish
    STOCHASTIC :eek:versold


    MARKET ANALYSIS - Intraday Analysis

    USDJPY fell yesterday and was supported at 76.55 (S1) and now it seems that it is going to retest that level. We expect the price to retest and then break below our support level targeting fresh lows at 76.03 (S2) and 75.54 (S3). Look for short positions below 76.55 (S1) with a stop loss above 77.05 (R1).

    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/18012012
     

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