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Daily Forex Market by FXCC 23Jan2012

Discussion in 'Market Predictions and Reports' started by alayoua, Jan 23, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 23Jan2012

    Euro falls sharply on open versus many of its peers

    The euro fell 0.3 percent to $1.2890 as of 9:20 a.m. in Tokyo from $1.2931 in New York on Jan. 20th when it reached $1.2986, the highest level since Jan. 4th. The seventeen nation common currency declined 0.4 percent to 99.24 yen. The dollar traded at 76.99 yen from 77.01. The USD/JPY possibly remains in consolidation around 77.00 at the start of trading this Monday, after last week saw the paring retrace below 77.05 after failing to break above 100 DMA.

    Australia’s dollar fetched $1.0463 from $1.0484 on Jan. 20. It earlier rose as high as $1.0494, its strongest level since Nov. 1. The overall positive mood which enveloped global equity markets last week helped support the Aussie AUD at the open, price is off slightly following a slight fall in the Australian producer price index (QoQ) at 0.3% from a 0.5% consensus.
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    UPCOMING EVENTS
    2012-01-23 00:30 GMT | Australia Producer Price Index (QoQ) (Q4)
    2012-01-23 00:30 GMT | Australia Producer Price Index (YoY) (Q4)
    2012-01-23 09:00 GMT | European Monetary Union EcoFin Meeting
    2012-01-23 15:00 GMT | EU - Consumer Confidence (Dec) Preliminar

    FOREX NEWS
    2012-01-23 05:35 GMT | EUR/USD gap down unfilled in Asia
    2012-01-23 00:41 GMT | Australia: PPI rises 2.9% in year to December
    2012-01-23 00:31 GMT | Australia: Producer Price Index (QoQ) (4Q): 0.3%
    2012-01-23 00:17 GMT | USD/JPY still consolidating below 77.00

    EURUSD 1.28911 / 1.28917
    DAILY WEEKLY MONTHLY
    High: 1.29081 | Low: 1.28759 | Chg: -0.004 -0.31%

    [​IMG]

    Resistance Levels: 1.3056 | 1.3025 | 1.2987 | 1.2948
    Support Levels: 1.2838 | 1.2807 | 1.2732 | 1.2624

    SUMMARY up
    TREND up trend
    MA10 bearish
    MA20 Bearish
    STOCHASTIC neutral


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD continued to rise the whole week from 1.2624 (S4) and formed a high at 1.2987 (R2). The pair seems to be forming a correction downwards, towards 1.2878 and there are also possibilities to retest our first support level at 1.2838 (S1). Look for a long position near the support levels, targeting 1.2987 (R2).

    GBPUSD 1.55370 / 1.55380
    DAILY WEEKLY MONTHLY
    High: 1.55621 | Low: 1.55273 | Chg: -0.0039 -0.25%

    [​IMG]

    Resistance Levels: 1.5677 | 1.5639 | 1.5614 | 1.5579
    Support Levels: 1.5500 | 1.5448 | 1.5402 | 1.5339

    SUMMARY up
    TREND up trend
    MA10Bullish
    MA20bullish
    STOCHASTICneutral


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD broke above 1.5500 (S1) level and formed a top at 1.5579 (R1). It now seems to be heading towards the same resistance level. A break above that level would suggest a target of 1.5614 (R2) and a further rise will then focus on the next target at 1.5639 (R3). On the downside, if the price rebounds from the current resistance level we can expect retesting at 1.5500 (S1), a technical and psychological level. A further fall will then bring focus to the next support level at 1.5448 (S2).

    USDJPY 77.030 / 77.034
    DAILY WEEKLY MONTHLY
    High: 77.08 | Low: 76.929 | Chg: 0.005 0.01%

    [​IMG]

    Resistance Levels: 78.21 | 77.78 | 77.56 | 77.32
    Support Levels: 76.91 | 76.55 | 76.05 | 75.56

    SUMMARY : neutral
    TREND : sideway
    MA10 : Bullish
    MA20 : bullish
    STOCHASTIC : neutral
    MARKET ANALYSIS - Intraday Analysis

    USDJPY after a short consolidation, continue to rise from Friday’s support level of 76.55(S2) and has reached a high at 77.32 (R1) so far. If we switch to an H4 timeframe, we can see that the pair is going through another consolidation and if the pair manages to hold above 76.55 (S2) we can expect a further rise towards our first resistance level at 77.32 (R1) and a sustained rise will then approach 77.56 (R2). On the other hand, if the price does not manage to break above 77.32 ( R1) we can expect the price to move downwards and retest the second support level at 76.55 (S2) and a deeper decline could be then supported at 76.05 (S3).

    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/23012012
     

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