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Daily Forex Market by FXCC 30Apr2012

Discussion in 'Market Predictions and Reports' started by alayoua, Apr 30, 2012.

  1. alayoua

    alayoua Banned

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    Daily Forex Market by FXCC 30Apr2012

    EURUSD trapped in Trading Range

    EUR/USD is currently at 1.3249, near the upper bound of the tiny range the pair has traded into this Monday in Asia-Pacific, with main markets Japan and China closed for Golden Week holiday. US and European share markets point for a marginal higher open, according to their futures. For the London session ahead agenda shows German retail sales at 06:00 GMT as EUR macro data related, followed by EU M3 money supply and private loans at 08:00 GMT and CPI figures at 09:00 GMT, as well as short term sovereign debt auctions from France along the European morning.

    Despite the Bank of Japan expanded its QE program by JPY5trn to JPY70trn last Friday in Asia, an outcome in line with expectations, the measure seems to have underwhelmed the market, which continues to buy the Yen ignoring the recent aggressive monetary easing.
    Read More
    https://support.fxcc.com/email/technical/30042012/

    UPCOMING EVENTS
    2012-04-30 08:00 GMT | European Monetary Union M3 Money Supply (3m) (Mar)
    2012-04-30 08:00 GMT | European Monetary Union M3 Money Supply (YoY) (Mar)
    2012-04-30 09:00 GMT | European Monetary Union Consumer Price Index (YoY)
    2012-04-30 09:00 GMT | Italy Consumer Price Index (YoY) (Apr) Preliminar

    FOREX NEWS
    2012-04-30 01:31 GMT | Australia Mar Private Sector Credit (YoY) 2.3%
    2012-04-30 00:31 GMT | Australia Apr TD Securities Inflation (YoY) 1.9%
    2012-04-30 00:30 GMT | Australia TD Securities Inflation (MoM) 0.3% in Apr
    2012-04-30 00:30 GMT | GBP/USD quiet near 7-month highs

    --------
    EURUSD : 1.32542 / 1.32546
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.3423 | 1.3375 | 1.3324 | 1.3269
    1.3171 | 1.3118 | 1.3057 | 1.3000

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


    MARKET ANALYSIS - Intraday Analysis

    The EURUSD found a strong support at 1.3171 (S1) and moved upwards breaking above our resistance levels. We expect the price to continue its move upwards as this is supported by the fact that both of our Moving Averages are bullish and are providing a strong support just above previous low. Look for long positions at 1.3269 targeting second resistance level at 1.3324 (R2).

    --------
    GBPUSD : 1.62849 / 1.62857
    DAILY WEEKLY MONTHLY

    [​IMG]

    1.6474 | 1.6424 | 1.6389 | 1.6345
    1.6207 | 1.6134 | 1.6078 | 1.6009

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


    MARKET ANALYSIS - Intraday Analysis

    GBPUSD gained momentum and formed higher bottoms successfully penetrating Friday's resistance levels. We expect the price to continue its upwards move targeting 1.6345 (R1) and further rise will then be limited at 1.6389 (R2).

    --------
    USDJPY : 80.124 / 80.129
    DAILY WEEKLY MONTHLY

    [​IMG]

    81.77 | 81.43 | 81.04 | 80.65
    79.54 | 79.05 | 78.47 | 78.13

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


    MARKET ANALYSIS - Intraday Analysis

    USDJPY fell sharply and formed a strong support level close to 80.00 level. Look for short positions at current level targeting 79.54 (S1) and further fall will then focus on next support level at 79.05 (S2). A stop loss should be placed at 80.65 (R1).

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

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