1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Daily Forex Market by FXCC 27Jan2012

Discussion in 'Market Predictions and Reports' started by alayoua, Jan 27, 2012.

  1. alayoua

    alayoua Banned

    Joined:
    Jul 19, 2011
    Messages:
    0
    Likes Received:
    0
    Daily Forex Market by FXCC 27Jan2012

    MARKET OVERVIEW – JANUARY 27 2012
    The dollar heads for a weekly decline

    The dollar bought $1.3100 per euro as of 8:57 a.m. Tokyo time from $1.3109 Thursday. It yesterday dropped as low as $1.3184 per euro, the weakest level printed since Dec. 21. The greenback was little changed at 77.48 yen. The 17-nation euro fetched 101.50 yen from 101.53, following a 0.4 percent slide yesterday. The U.S. currency has weakened 1.3 percent versus the euro this week. It has appreciated 0.6 percent versus the yen since Jan. 20. The Euro retreated versus sterling after hitting at 0.8398, which was the strongest level seen in 4 weeks. The EUR/GBP dropped from the highs to 0.8347, a new daily low, during the American session. The US Dollar gained momentum across the board versus its major peers as Wall Street turned lower later in the NY session due to bank equities sliding. GBP/USD previously above 1.5700, lost strength retreating to 1.5685. USD/CHF bottomed on Wall Street opening at 0.9155, this was the lowest price witnessed since December 2, the pair moved off session lows later in the session. The recovery of the US Dollar found resistance at 0.9185/90
    Read More

    UPCOMING EVENTS
    2012-01-27 08:00 GMT | Spain Retail Sales (YoY) (Dec)
    2012-01-27 09:00 GMT | European Monetary Union M3 Money Supply (3m) (Dec)
    2012-01-27 09:00 GMT | European Monetary Union M3 Money Supply (YoY) (Dec)
    2012-01-27 10:30 GMT | Switzerland KOF Leading Indicator (Jan)

    FOREX NEWS
    2012-01-27 05:20 GMT | EUR/JPY drops below 101.00 on general JPY buying interest
    2012-01-27 04:01 GMT | EUR/JPY sneaks lower; 102.00 blocks rally scope
    2012-01-27 00:27 GMT | Japan Retail Trade s.a (MoM) -0.4% in Dec
    2012-01-27 00:04 GMT | BoJ to continue expansion of asset buying




    EURUSD 1.31011 / 1.31016
    High: 1.31193 | Low: 1.30775 | Chg: -0.0007 -0.05%
    SUMMARY: Up
    INTRADAY TREND: Uptrend
    MA10: Bearish
    MA20: Bearish
    STOCHASTIC: Neutral

    [​IMG]

    Resistance Levels: 1.3311 | 1.3268 | 1.3218 | 1.3185
    Support Levels: 1.3050 | 1.2952 | 1.2877 | 1.2813

    Intraday Analysis: The EURUSD formed a top at 1.3185 (R1) and as mentioned in yesterday’s analysis we expect the price to make a correction downwards and then to continue its upward move. We expect the price to test 1.3050 (S1) a strong technical support level for the intraday, and then to bounce upwards towards 1.3185 (R1). A break above the 1.3185 level would suggest a target of 1.3218 (R2). Look for long positions around our support levels targeting 1.3218 (R2).


    GBPUSD 1.56865 / 1.56875
    High: 1.56955 | Low: 1.56612 | Chg: -0.0002 -0.01%
    SUMMARY: Up
    INTRADAY TREND: Uptrend
    MA10: Bearish
    MA20: Bearish
    STOCHASTIC: Neutral

    [​IMG]

    Resistance Levels: 1.5894 | 1.5861 | 1.5775 | 1.5735
    Support Levels: 1.5621 | 1.5552 | 1.5449 | 1.5407

    Intraday Analysis: GBPUSD made a high at 1.5735 (R1) as it continued its move upwards (since January 13th). We expect the price to retest 1.5621 (S1) and then to bounce upwards towards our first resistance level of 1.5735 (R1). A break above that level will concentrate our focus on 1.5775 (R2) a technical and psychological level as it has been retested 3 times in the past (November and December of 2011) and is considered a strong resistance level.


    USDJPY 77.130 / 77.134
    High: 77.483 | Low: 76.897 | Chg: -0.315 -0.41%
    SUMMARY: Down
    INTRADAY TREND: Downtrend
    MA10: Bearish
    MA20: Bearish
    STOCHASTIC: Neutral

    [​IMG]

    Resistance Levels: 79.86 | 78.75 | 78.28 | 77.85
    Support Levels: 76.87 | 76.54 | 76.06 | 75.54

    Intraday Analysis: USDJPY made a sharp move downwards this morning and confirmed our recommendations for short positions and also for a continuation of the downtrend. We except the price to continue its downward move as it is under bearish pressure at the moment and it seems to be heading towards 76.54 (S2) and 76.06 (S3). A proper confirmation for the short positions will be when the price manages to break below the first support level of 76.87 (S1). A stop loss should be placed above 77.85(R1).

    Source: FX Central Clearing Ltd, (ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC)
    URL: https://support.fxcc.com/email/technical/27012012
     

Share This Page