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Forex Technical & Market Analysis December 12 2012

Discussion in 'Major Currency Crosses' started by alayoua, Dec 12, 2012.

  1. alayoua

    alayoua New Member

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    Forex Technical Market Analysis December 12 2012

    Greek banks tender rest of Greek debt holdings to help reach buyback target
    According to reports, Greece has reached the bond buyback target at 31.5 billion euros on Tuesday. The deadline for submitting bids was extended by one more day yesterday, due to the inability to reach the expected 30 billion euros by initial deadline which ended on December 7 at 17:00 GMT. Greek banks probably tendered the total amount of the Greek debt they hold in order to help cover the difference between the 26.5 billion euros received last Friday and the the expected 30 billion euros. This means that the EU and the IMF will now be able to unblock the next bailout tranche for the indebted country.

    Spain held a debt auction on Tuesday during which it managed to sell 3.89 billion euros of 12- and 18 -month government bods, above the targeted 3.5 billion euros. 2.39 billion euros of 12-month bills were auctioned at an average yield of 2.556%, down from 2.797% seen at the previous auction. The bid to cover ratio was at 2.46, compared with the previous 2.12. 1.5 billion euros of 18-month bonds were sold at an average yield of 2.778% versus 3.034%. The bid to cover ratio was at 2.7 from 5.72 seen previously.
    http://blog.fxcc.com/forex-technical-market-analysis-december-12-2012/


    Forex Calendar
    2012-12-12 09:30 GMT | UK.Claimant Count Change (Nov)
    2012-12-12 17:30 GMT | USA.Fed Interest Rate Decision (Dec 12)
    2012-12-12 19:00 GMT | USA.FOMC Economic Projections
    2012-12-12 19:15 GMT | USA.Fed’s Monetary Policy Statement and press conference

    Forex News
    2012-12-12 05:48 GMT | GBP/USD tight in range ahead of UK, US events
    2012-12-12 04:00 GMT | GBP/JPY just 30 pips below year 2012 highs
    2012-12-12 02:27 GMT | AUD/USD stalls below 1.0540 awaiting RBA Stevens
    2012-12-12 00:49 GMT | EUR/USD: tight ranges circa 1.3000 expected pre-Fed

    --------------
    EURUSD
    HIGH: 1.30141 | LOW: 1.29968 | BID: 1.29974 | ASK: 1.29980 | CHANGE: -0.06% | TIME: 08:14:53

    [​IMG]

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

    MARKET ANALYSIS – Intraday Analysis
    Price setup is looking for a pullback development. Downside fluctuations remains for now limited to next support level at 1.2984 (S1), only clear break here would be a signal of market easing with next targets at 1.2971 (S2) and 1.2958 (S3).

    Resistance Levels: 1.3014, 1.3028, 1.3042
    Support Levels: 1.2984, 1.2971, 1.2958

    --------------
    GBPUSD
    HIGH: 1.61203 | LOW: 1.60999 | BID: 1.61110 | ASK: 1.61119 | CHANGE: -0.01% | TIME: 08:14:54

    [​IMG]

    OUTLOOK SUMMARY: UP
    TREND CONDITION: Sideway
    TRADERS SENTIMENT: Bearish
    IMPLIED VOLATILITY: High

    The market seems to be trading in a range. If the market participants manage to push the price below the support level at 1.6089 (S1) the instrument has an increased likelihood of failing towards to next targets at 1.6071 (S2) and 1.6054 (S3).

    Resistance Levels: 1.6130, 1.6144, 1.6158
    Support Levels: 1.6089, 1.6071, 1.6054

    --------------
    USDJPY
    HIGH: 82.69 | LOW: 82.481 | BID: 82.654 | ASK: 82.659 | CHANGE: 0.19% | TIME: 08:14:55

    [​IMG]

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

    USD/JPY did not find priority in direction yet. Climb above the next resistance level at 82.70 (R1) might provide market with sufficient bullish power and attack next targets at 82.76 (R2) and 82.82 (R3) later on today.

    Resistance Levels: 82.70, 82.76, 82.82
    Support Levels: 82.32, 82.26, 82.20

    Source: FX Central Clearing Ltd,( Forex Strategy | ECN Forex Trading Systems | Forex Exchange Rates | FXCC )
     
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