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 29Mar2012

Discussion in 'Market Predictions and Reports' started by alayoua, Mar 29, 2012.

  1. alayoua

    alayoua Banned

    Joined:
    Jul 19, 2011
    Messages:
    0
    Likes Received:
    0
    Daily Forex Market by FXCC 29Mar2012

    EUR/USD flat in Asia

    EUR/USD is trading now at 1.3319 exactly same opening price started Asian session, in the middle of a 25 pip range 1.3307/1.3332. With not much change since late NY, there is a clear ask line at 1.3332 limiting the upside, while downside has been pretty much contained as well despite risk-off mode during the Asian trade, with local share markets overall in the red, Nikkei losing -0.67%. GBP/USD has so far traded up to a session high of 1.5907 in Asia, extending the overnight bounce from ascending trendline support at 1.5840 - taken from the 1.5700 and 1.5800 troughs - and is now hovering around the 1.5900 handle, up 15 pips on the day.

    The combination of Yen shorts bailing themselves out of stale long positions coupled with an acceleration in Aussie bears continues to damage the AUD/JPY, which has seen the rate dive from 86.06 NY close all the way down to currently approach 85.63, yesterday's low. Current price stays at 85.76, day lows.
    Read More
    https://support.fxcc.com/email/technical/29032012/

    UPCOMING EVENTS
    2012-03-29 07:55 GMT | Germany Unemployment Rate s.a. (Mar)
    2012-03-29 08:30 GMT | United Kingdom Mortgage Approvals (Feb)
    2012-03-29 09:00 GMT | European Monetary Union Economic Confidence (Mar)
    2012-03-29 09:00 GMT | European Monetary Union Industrial Confidence (Mar)

    FOREX NEWS
    2012-03-29 04:31 GMT | GBP/USD hovers around 1.5900
    2012-03-29 01:11 GMT | AUD/JPY long squeeze picks up, 85.63 low in sight
    2012-03-29 00:58 GMT | AUD/USD drops, finds support at 1.0360
    2012-03-29 00:01 GMT | New Zealand Business Confidence increase to 33.8 in Mar

    ------------
    EURUSD : 1.33192 / 1.33199
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.3550 | 1.3493 | 1.3441 | 1.3382
    1.3276 | 1.3220 | 1.3177 | 1.3133

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


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD formed a high at 1.3382 (R1) retesting for second time the upper level without managing to break above it as a result the price to trap in a trading range between 1.3382 (R1) and 1.3276 (S1). Yesterday the price retested and bounced from the lower boundary and now it seems that is trading in the middle of the channel. As far as the price is moving between these levels we remain flat. Our recommendation for today’s trading session is no position as we do not have a clear trend direction.

    -------------
    GBPUSD : 1.59134 / 1.59150
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.6098 | 1.6051 | 1.6000 | 1.5940
    1.5842 | 1.5805 | 1.5769 | 1.5703

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


    MARKET ANALYSIS - Intraday Analysis

    -------------
    GBPUSD fell and formed a bottom at 1.5842 (S1) and now it seems that is heading towards 1.5940 (R1). A break above that level, would suggest target at 1.6000 (R2) a strong technical level for the bulls as a break above it will then focus on 1.6051 (R3). A stop loss should be placed at 1.5878.

    USDJPY : 82.663 / 82.670
    DAILY WEEKLY MONTHLY

    [​IMG]

    84.57 | 84.09 | 83.55 | 82.97
    82.54 | 81.97 | 81.41 | 80.91

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


    MARKET ANALYSIS - Intraday Analysis

    The USDJPY formed a new low at 82.54 and it is moving downwards. A break below 82.54 (S1) would suggest target at 81.97 (S2) and further fall will then be limited at 81.41 (S3). Look for short positions in today’s trading session as both of our Moving Averages 10 - 20 turned bearish and the pair is under bearish pressure.

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

Share This Page