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Daily Forex Market by FXCC 24Feb2012

Discussion in 'Market Predictions and Reports' started by alayoua, Feb 24, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 24Feb2012

    Aussie Dollar Set for a Two-Week Gain..

    The euro was unchanged at $1.3373 as of 8:40 a.m. in Tokyo from Thursday and earlier touched $1.3379, matching the highest since Dec. 12. The shared currency was at 106.90 yen from 106.98 yesterday, when it rose 0.6 percent. The yen was at 79.94 per dollar from 80 yesterday. The USD/JPY finally broke down through the key 80.00 support level late Thursday after falling almost 50 pips from 80.30 to break support posting fresh intra-day lows at 79.85. Sterling advanced 0.2 percent to $1.5696 at 5:08 p.m. London time, trimming yesterday’s 0.7 percent decline. The currency dropped 0.3 percent to 84.78 pence per euro, after depreciating to 84.89 pence, the weakest since Dec. 12.

    Australia’s dollar gained 0.1 percent to $1.0728 at 11:00 a.m. in Sydney, set to rise 0.2 percent this week. The Aussie bought 85.75 yen from 85.74 yesterday. New Zealand’s currency bought 83.73 U.S. cents, 0.1 percent higher than yesterday’s close in New York. It was poised for a 0.6 percent weekly advance. The kiwi was at 66.93 yen from 66.90.
    Read More
    URL: https://support.fxcc.com/email/technical/24022012

    UPCOMING EVENTS
    2012-02-24 07:00 GMT | Germany Gross Domestic Product s.a (QoQ) (Q4)
    2012-02-24 07:00 GMT | Germany Gross Domestic Product n.s.a (YoY) (Q4)
    2012-02-24 09:30 GMT | United Kingdom Gross Domestic Product (QoQ) (Q3)
    2012-02-24 09:30 GMT | United Kingdom Gross Domestic Product (YoY) (Q3)

    FOREX NEWS
    2012-02-24 05:40 GMT | EUR/USD muted in Asia around 1.3370
    2012-02-24 02:55 GMT | EUR/AUD slides below 1.2450 on RBA comments
    2012-02-24 01:11 GMT | AUD/JPY breaks the 86.00 handle
    2012-02-24 00:51 GMT | GBP/USD steady below 1.5750

    --------------
    EURUSD : Connection timeout
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.3493 | 1.3469 | 1.3425 | 1.3377
    1.3293 | 1.3211 | 1.3182 | 1.3139

    SUMMARY : Up
    TREND : Up trend
    MA10: Bullish
    MA20 : Bearish
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    EURUSD formed a high at 1.3377 (R1) taking away positive our 3 targets (1.3291, 1.3322 and 1.3375) that were recommended in yesterday’s analysis gaining a total of 117 pips!! EURUSD is in a strong uptrend momentum. A break above 1.3377 will continue its upward move targeting next resistance level at 1.3425 (R1). A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 1.3377(R2). A stop loss should be placed below 1.3293 (S1).

    ---------------
    GBPUSD : 1.57313 / 1.57327
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.5924 | 1.5879 | 1.5814 | 1.5755
    1.5700 | 1.5649 | 1.5593 | 1.5424

    SUMMARY : Up
    TREND : Up trend
    MA10 : Bullish
    MA20 : Bearish
    STOCHASTIC : Neutral


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD rebounded from 1.5649 (S2) and made a sharp move upwards penetrating successfully first and second target (1.5700 and 15735) ending our day with profits!! It seems now the pair is doing a small correction before it continues its move upwards towards 1.5814 (R2). A proper confirmation for long positions will be when the price manages to break above our first resistance level. A stop loss should be placed below 1.5680.

    ---------------
    USDJPY : 80.408 / 80.412
    DAILY WEEKLY MONTHLY

    [​IMG]

    81.86 | 81.47 | 80.84 | 80.48
    79.88 | 79.35 | 78.97 | 78.69

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


    MARKET ANALYSIS - Intraday Analysis

    USDJPY after a successful run since beginning of February USDJPY is moving in a consolidation mode between the levels of 79.88 (S1) and 80.46 (R1). A break above upper level we will be suggesting target at 80.84 (R2) and of course continuation of the uptrend. In the other hand a break below 79.88 (S1) we can expect the price to retest support at 79.35 (S2). As far as the price is moving between 79.88 (S1) and 80.46 (R1) we remain flat.

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

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