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Daily Forex Market by FXCC 19Jan2012

Discussion in 'Market Predictions and Reports' started by alayoua, Jan 19, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 19Jan2012
    MARKET OVERVIEW – JANUARY 19 2012
    Will the euro strengthen versus the yen?

    GBP/USD broke through the levels of resistance from R1-R3 on Wednesday to reach a fresh 5-day high 1.5440, ending the American session 0.68% higher at 1.5435, this represented cables's third successive day of gains. As is its habit on occasion USD/JPY traded in a very limited 76.65/86 range before ending the American session virtually unchanged, at 76.81. The Swiss Franc strengthened versus many major counter party currencies as the US Dollar weakened, the USD/CHF fell to its lowest level in two weeks, below the psychological level of 0.9400. The pair flattened at 0.9382, remaining below 0.9400. The Swissy also rose versus its European rivals. The EUR/CHF broke below 1.2080 to 1.2067, tempting last week's lows at 1.2062, GBP/CHF fell sharply from 1.4515 to 1.4482. EUR/USD ended trading in the New York session circa 1% higher at 1.2862, just below the 20-day EMA resistance level seen at 1.2870 with support seen at 1.2840.

    AUD/USD spent Wednesday trading below 1.0450 a 2-month high. The pair ended trading in New York higher for the third consecutive day, closing at 1.0435, up from a session low of 1.0355. A Kiwi sell-off occurred across the markets after a 0.3% fall in inflation was published. NZD/USD lost 45-50 pips rapidly after a sell off took the pair as low as 0.8025 from its earlier highs of 0.8080. After peaking at 1.0176, USD/CAD lost momentum dropping over half a cent late Wednesday currently printing circa 1.0120, a couple of points above Wednesday's daily low of 1.0118.

    UPCOMING EVENTS
    2012-01-19 00:00 GMT | Australia Consumer Inflation Expectation (Jan)
    2012-01-19 00:30 GMT | Australia Unemployment Rate s.a. (Dec)
    2012-01-19 00:30 GMT | Australia Employment Change s.a. (Dec)
    2012-01-19 09:00 GMT | European Monetary Union ECB Monthly Report

    FOREX NEWS
    2012-01-19 01:26 GMT | GBP/JPY targeting lows below 118.50
    2012-01-19 00:40 GMT | Australia: Unemployment steady at 5.2%, big miss in job creation
    2012-01-19 00:27 GMT | Swissy supported by successful auctions
    2012-01-19 00:01 GMT | Australia Jan Consumer Inflation Expectation 2.8%

    EURUSD 1.28475 / 1.28477
    High: 1.28784 | Low: 1.28417 | Chg: -0.0016 -0.12%
    SUMMARY: Up
    INTRADAY TREND: Uptrend
    MA10: Bullish
    MA20: Bullish
    STOCHASTIC: Neutral

    [​IMG]

    Resistance Levels: 1.3120 | 1.3075 | 1.2989 | 1.2878
    Support Levels: 1.2807 | 1.2714 | 1.2647 | 1.2624

    Intraday Analysis: EURUSD rose yesterday towards resistance at 1.2878 (R1) and now it is testing the downtrend trend line again. A break above that level we can expect price to move towards 1.2989 (R2) and this is a proper conformation for a trend reversal. On the downside, if the pair do not manage to break above first resistance then we expect to move towards 1.2807 (S1) and then 1.2714 (S2).



    GBPUSD 1.54163 / 1.54172
    High: 1.54453 | Low: 1.54159 | Chg: -0.0021 -0.14%
    SUMMARY: Up
    INTRADAY TREND: Uptrend
    MA10: Bullish
    MA20: Bullish
    STOCHASTIC: Neutral

    [​IMG]

    Resistance Levels: 1.5669 | 1.5580 | 1.5488 | 1.5445
    Support Levels: 1.5404 | 1.5320 | 1.5278 | 1.5233

    Intraday Analysis: GBPUSD gained momentum yesterday and formed a top at 1.5445 (R1) now it seems that is moving towards 1.5404(S1). A break below that level can expect the pair to retest 1.5320 (S2). If the price moves upwards and breaks above our first resistance level 1.5445 (R1) then we expect the price to approach towards 1.5488 (R2).


    USDJPY 76.764 / 76.767
    High: 76.834 | Low: 76.721 | Chg: -0.054 -0.07%
    SUMMARY: Down
    INTRADAY TREND: Downtrend
    MA10: Bearish
    MA20: Bearish
    STOCHASTIC: Neutral

    [​IMG]

    Resistance Levels: 77057 | 77.33 | 77.05 | 76.87
    Support Levels: 76.65 | 76.59 | 76.10 | 75.56

    Intraday Analysis: USDJPY is moving sideways between 76.87 (R1) and 76.65 (S1). A break below our support level, we can expect the price to retest 76.59 (S2) and further decline we’ll focus on 76.10 (S3). Look for short positions with a stop loss above 77.05 (R2).

    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/19012012
     

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