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Daily Forex Market by FXCC 28Mar2012

Discussion in 'Market Predictions and Reports' started by alayoua, Mar 28, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 28Mar2012

    EURUSD is trading bellow 1.3400 level

    After losing ground Tuesday on a strong dollar advance, EUR/USD is gently bid in early Asia, having inched up to a session high of 1.3335 from an earlier low of 1.3312, last quoted near the top of the range, 30 pips above its opening price.Cable is currently at 1.5955, inside a very limited range 1.5944/61 the pair has been within since session started from the lower part of it. Local share markets are in a risk-off mode bringing down Nikkei index by -1.15% among others, with oil and gold at session lows.

    After a second attempt at critical resistance just shy of 111.50 on Tuesday, EUR/JPY pulled back to close modestly higher on the day at 110.74 from110.61. So far this Wednesday in Asia, the pair is trading a limited range between 110.52 and 110.86, last at 110.60. Support is noted at 110.12 (19 March high), while resistance is at 110.91 (intraday).
    Read More
    https://support.fxcc.com/email/technical/28032012/

    UPCOMING EVENTS
    2012-03-28 08:30 GMT | United Kingdom Current Account (Q4)
    2012-03-28 08:30 GMT | United Kingdom Gross Domestic Product (QoQ) (Q3)
    2012-03-28 08:30 GMT | United Kingdom Gross Domestic Product (YoY) (Q3)
    2012-03-28 08:30 GMT | United Kingdom Total Business Investment (YoY) (Q4)

    FOREX NEWS
    2012-03-28 04:09 GMT | Aussie at session lows vs. USD, JPY
    2012-03-28 01:18 GMT | USD/JPY breaks below 83.00
    2012-03-28 00:45 GMT | EUR/USD inching higher, reaches 1.3335
    2012-03-28 00:14 GMT | AUD/USD dips below 1.0440

    -------------------
    EURUSD : 1.33316 / 1.33324
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.3550 | 1.3493 | 1.3441 | 1.3382
    1.3284 | 1.3220 | 1.3177 | 1.3133

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


    MARKET ANALYSIS - Intraday Analysis

    EURUSD didn’t made any significant moves yesterday as it moved in a consolidation mode between the 1.3284 (S1) and 1.3382 (R1) levels. The bulls face a major hurdle at the 1.3370 (R1) level, a significant both psychological and technical level. As we want to continue our winning streak on this pair our recommendations for today’s trading session is no position until we see a break above first resistance and continuation of the uptrend or a break below 1.3284 (S1) that it will trap the pair in a trading range. No position.

    ---------------
    GBPUSD : 1.59554 / 1.59563
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.6149 | 1.6096 | 1.6057 | 1.6000
    1.5907 | 1.5817 | 1.5769 | 1.5711

    SUMMARY : Up
    TREND: Up trend
    MA10 : Neutral
    MA20 : Neutral
    STOCHASTIC : Overbought


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD formed a low below 1.5817 (S2) and after that the pair rebounded and rise moving closer to our resistance level at 1.6000 level (R1). After a successful run the pair fell and trapped again in a trading range between 1.5907 (S1) and 1.6000 (R1). A break above 1.6000 level could trigger further bullish pressure targeting 1.6057 (R2) while a break below 1.5907 (S1) could trigger further bearish pressure towards support levels. Look for long positions above 1.6000 level targeting resistance levels. A stop loss should be placed at 1.5950.

    ---------------
    USDJPY : 82.908 / 82.917
    DAILY WEEKLY MONTHLY

    [​IMG]

    84.59 | 84.08 | 83.81 | 83.39
    82.64 | 82.31 | 81.97 | 81.31

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


    MARKET ANALYSIS - Intraday Analysis

    The USDJPY continued to rise from 81.97 (S3) and reached a high yesterday at 83.39 (R1). It seems the pair made a correction downwards and it will retest the first resistance soon. Look for long positions at current price, as the pair is moving upwards towards 84.00 level with a strong bullish momentum. A stop loss should be placed above 82.31 (S2).

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

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