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Forex Technical & Market Analysis FXCC Aug 13 2013

Discussion in 'Major Currency Crosses' started by alayoua, Aug 12, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Aug 13 2013

    Australian services sector falls below 40.00, first time since GFC

    Earlier on the session it was learnt that the Australian Performance of Services Index (Australian PSI®) fell deeper into the red, this time by 2.1 points to 39.4 in July, suggesting further contraction in activity. This is the lowest level for the Australian PSI® since March 2009, Ai Group reported, saying that "outside the GFC-related downturn in 2008-09, it is the first time the Australian PSI® has fallen below 40 points."
    https://support.fxcc.com/email/technical/05082013/

    FOREX ECONOMIC CALENDAR :
    2013-08-05 07:58 GMT | EMU. Markit Services PMI
    2013-08-05 08:28 GMT | UK. Markit Services PMI (Jul)
    2013-08-05 09:00 GMT | EMU. Retail Sales (YoY)
    2013-08-05 14:00 GMT | US. ISM Non-Manufacturing PMI

    FOREX NEWS :
    2013-08-05 05:18 GMT | GBP/USD mustering a modest bounce after five straight down sessions
    2013-08-05 04:31 GMT | AUD/USD enters heavy data week oversold and with the world leaning against it
    2013-08-05 04:09 GMT | EUR/USD, sellers protect 1.3280 resistance
    2013-08-05 03:24 GMT | USD/JPY easing below 99.00

    ----------------------------
    EURUSD :
    HIGH 1.32868 LOW 1.32635 BID 1.32788 ASK 1.32791 CHANGE -0.02% TIME 08:33:34

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3293 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets 1.3304 (R2) and 1.3316 (R3). Downwards scenario: Risk of market depreciation is seen below the next support level at 1.3263 (S1). Clearance here would suggest next intraday targets at 1.3252 (S2) and 1.3241 (S3) in potential.

    Resistance Levels: 1.3293, 1.3304, 1.3316
    Support Levels: 1.2263, 1.3252, 1.3241

    ----------------------
    GBPUSD :
    HIGH 1.52969 LOW 1.5259 BID 1.52751 ASK 1.52756 CHANGE -0.05% TIME 08:33:34

    [​IMG]

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

    Upwards scenario: Market price penetrated above the Friday’s high. On the way is key resistive measure at 1.5309 (R1), break here is required to achieve higher targets at 1.5330 (R2) and 1.5350 (R3). Downwards scenario: On the downside next challenge is seen at 1.5248 (S1). Breakthrough here would open road for a recovery action towards to our initial targets at 1.5233 (S2) and 1.5212 (R3) in potential.

    Resistance Levels: 1.5309, 1.5330, 1.5350
    Support Levels: 1.5248, 1.5233, 1.5212

    -------------------
    USDJPY :
    HIGH 99.15 LOW 98.706 BID 98.771 ASK 98.776 CHANGE -0.17% TIME 08:33:35

    [​IMG]

    OUTLOOK SUMMARY : Down
    TREND CONDITION : Downward penetration
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : Low

    Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 99.15 (R1) would suggest next targets at 99.32 (R2) and 99.49 (R3). Downwards scenario: Further recovery phase is limited now to the next supportive barrier at 98.65 (S1). Only loss here would enable our intraday targets at 98.50 (S2) and 98.34 (S3) on the downside.

    Resistance Levels: 99.15, 99.32, 99.49
    Support Levels: 98.65, 98.50, 98.34

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