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Forex Technical & Market Analysis Dec 14 2012

Discussion in 'Major Currency Crosses' started by alayoua, Dec 14, 2012.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis Dec 14 2012

    Leaders debate EMU consolidation after bank supervision deal

    In order to achieve the completion of EMU, the 27-countries bloc made further progress on the roadmap to achieve such goals, after the agreement for a Euro bank supervisor by the ECB earlier on the week, which will police north of 200 flagship banks.Today's European leaders meeting, which again concluded over 2 hours past midnight Brussels time, showed some understandable differences on how to go about the next critical steps, such as a banking resolution, measure to reduce country's deficit and a budget for the whole bloc. One of the notorious opposed members to see mutualisation of the debts after the ECB bank's oversight role, was German Chancellor Angela Merkel, who continues to play it safely against passing new liabilities for German taxpayers ahead of next year's national elections.

    As Reuters notes, "a German delegation source said that in the summit room, she opposed a joint resolution fund for banks at this stage and rejected any big "fiscal capacity" to help euro zone states cope with economic shocks or reward them for structural reforms. Instead, she said EU countries should concentrate on consolidating their own budgets, according to notes of the meeting and an account provided by one participant." Merkel, once out of the official meeting, told reporters that the bank union deal was a 'very important' decision taken by the EZ leaders, and that such agreement paves the way for future positive developments of a currency union. On the transaction tax, she suspects a solidarity fund for Euro zone states with limits 10 to 20 billion Euros. - https://support.fxcc.com/email/technical/14122012/


    Forex Economic Calendar :
    2012-12-14 10:00 GMT | EU.Consumer Price Index - Core (YoY) (Nov)
    2012-12-14 10:00 GMT | EU.Consumer Price Index (YoY) (Nov)
    2012-12-14 13:30 GMT | USA.Consumer Price Index (YoY) (Nov)
    2012-12-14 13:30 GMT | USA.Consumer Price Index Ex Food & Energy (YoY) (Nov)

    Forex News :
    2012-12-14 05:51 GMT | GBP/USD rallies above 1.6120 resistance; scope for 50-pip run?
    2012-12-14 04:50 GMT | AUD/JPY hits 9-month highs; eyes resistance at 88.60
    2012-12-14 03:29 GMT | USD/JPY just spiked a bit; approaching 84.00
    2012-12-14 00:53 GMT | EUR/USD still below 1.31; outlook remains bullish – V.Bednarik

    -----------------
    EURUSD :
    HIGH 1.31 LOW 1.30662 BID 1.30890 ASK 1.30897 CHANGE 0.09% TIME 08:09:37

    [​IMG]

    OUTLOOK : SUMMARY
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : High

    MARKET ANALYSIS - Intraday Analysis

    Medium term bias is positive for the pair. Risk of market appreciation is seen above the next resistance level at 1.3126 (R1). Loss here would suggest next target at 1.3139 (R2) and any further rise would then be targeting 1.3155 (R3).

    Resistance Levels: 1.3126, 1.3139, 1.3155
    Support Levels: 1.3081, 1.3069, 1.3056

    ------------------
    GBPUSD :
    HIGH 1.61287 LOW 1.61035 BID 1.61238 ASK 1.61249 CHANGE 0.08% TIME 08:09:38

    [​IMG]

    OUTLOOK : SUMMARY
    TREND CONDITION : Up trend
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : High

    Price action looks mainly consolidative on the hourly chart. Our next resistance stays at 1.6152 (R1). Market expansion towards to next targets at 1.6163 (R2) and 1.6176 (R3) looks reasonable if the price manages to overcome it.

    Resistance Levels: 1.6152, 1.6163, 1.6176
    Support Levels: 1.6101, 1.6083, 1.6067

    -------------------
    USDJPY
    HIGH 83.961 LOW 83.6 BID 83.894 ASK 83.897 CHANGE 0.3% TIME 08:09:39

    [​IMG]

    OUTLOOK : SUMMARY
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : High

    While instrument trades below the resistance level at 83.97 (R1), market would try to form correction. Break above it is required to attack the upside target at 84.10 (R2) and 84.22 (R3) in potential.

    Resistance Levels: 83.97, 84.10, 84.22
    Support Levels: 83.62, 83.51, 83.41

    Source: FX Central Clearing Ltd, (http://www.fxcc.com)
     
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