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Daily Forex Market by FXCC 24Jan2012

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

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 24Jan2012

    Euro Yen rallies from the eleven years lows seen over recent weeks

    The euro gained 0.6 percent to $1.3013 at 5 p.m. New York time after rising to $1.3053, the highest level seen since Jan. 4. The seventeen nation common currency advanced 0.6 percent to 100.25 yen, while the dollar was little changed at 77.02 yen. EUR/JPY accelerated higher on Monday from an earlier test of 99.00, reaching fresh 4-week highs in the 100.50 price zone before ending trade in New York at 100.22, 0.70% higher on the day. a significant move away from the fresh eleven year lows being reached over recent weeks. The pound weakened 0.8 percent to 83.66 pence per euro at 5:01 p.m. London time. Sterling was little changed at 119.87 yen and $1.5580. The rally of the Pound versus the Dollar finally stalled at the key round number level of 1.5600 as the Greenback managed to trim its losses across the board. USD/CHF dropped more than 120 pips on Monday, sliding to its lowest level since Dec 21 at 0.9250 before recovering, the pair was printing around circa 0.9260, down 1.2% on the day earlier in the evening.
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    UPCOMING EVENTS
    2012-01-24 03:35 GMT | Japan BoJ Interest Rate Decision (Jan 24)
    2012-01-24 08:28 GMT | Germany Purchasing Manager Index Manufacturing (Jan)
    2012-01-24 08:58 GMT | European Monetary UnionPurchasing Manager Index Manufacturing (Jan)
    2012-01-24 09:30 GMT | United Kingdom Public Sector Net Borrowing (Dec)

    FOREX NEWS
    2012-01-24 06:48 GMT | EUR/USD flat after Asian session
    2012-01-24 04:34 GMT | GBP/USD retreats from 1.5600 on run to safety
    2012-01-24 03:36 GMT | Japan Jan 24 BoJ Interest Rate Decision steadies at 0.1%
    2012-01-24 02:08 GMT | EUR/AUD finds a short term base above 1.2350

    EURUSD 1.30154 / 1.30160
    DAILY WEEKLY MONTHLY
    High: 1.30299 | Low: 1.29874 | Chg: 0.0002 0.02%

    [​IMG]

    1.3267 | 1.3218 | 1.3150 | 1.3051
    1.2986 | 1.2874 | 1.2838 | 1.2807

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


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD continued to rise from 1.2874 (S2) and reached a high yesterday at 1.3051 (R1). Following that we saw a correction towards the first support level at 1.2986 (S1). It seems the pair will re-test a high soon. If the price will have enough momentum we can expect a rise towards 1.3051 (R1) and focus on 1.3150 (R2) a strong technical and psychological level.

    GBPUSD 1.55586 / 1.55596
    DAILY WEEKLY MONTHLY
    High: 1.558 | Low: 1.5537 | Chg: -0.0008 -0.05%

    [​IMG]

    1.5715 | 1.5698 | 1.5668 | 1.5601
    1.5515 | 1.5449 | 1.5407 | 1.5343

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


    MARKET ANALYSIS - Intraday Analysis

    The GBPUSD fell and formed a bottom at 1.5515 (S1). After that the price rebounded and was able to break above yesterday’s resistance at 1.5579 and it seems it will re-test a high soon. A break above the first resistance would suggest a target of 1.5668 (R2). If price holds its momentum on the upside we can expect a further rise towards 1.5698 (R3). On the other hand, if the price does not manage to break above 1.5601 (R1) we can expect the pair to retest support at 1.5515 (S1) and a further fall will be limited to 1.5449 (S2).

    USDJPY 77.004 / 77.009
    DAILY WEEKLY MONTHLY
    High: 77.047 | Low: 76.956 | Chg: -0.017 -0.02%

    [​IMG]

    78.87 | 78.20 | 77.68 | 77.32
    76.85 | 76.55 | 76.08 | 75.53

    SUMMARY : neutral
    TREND : sideway
    MA10 : neutral
    MA20 : neutral
    STOCHASTIC : overbought


    MARKET ANALYSIS - Intraday Analysis

    USDJPY rose yesterday and was stopped at 77.32 (S1) where price rebounded and fell forming a bottom at 76.85 (S1). A break below 76.85 (S1) will be a proper confirmation for short positions targeting 76.55 (S2) and 76.08 (S3). Look for short positions at current price with a stop loss above first resistance 77.32 (R1).

    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/24012012
     

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