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Forex Technical & Market Analysis FXCC Aug 15 2013

Discussion in 'Major Currency Crosses' started by alayoua, Aug 15, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Aug 15 2013

    EUR/USD rips vertically on a 10-minute chart; still vulnerable macro set-up

    The EUR/USD just ripped straight higher for over 400 pips on non-news related buying. Still, any upside is corrective in nature unless 1.3414 is conquered say technicians. EUR/USD will likely be trading off of US data Thursday Despite the rip higher that just occurred on the intraday chart, the macro picture appears to be setting up for much more downside once this upside correction runs its course. The European markets are closed for the most part Thursday in honor of Ascension Day.
    http://www.einvestorsforum.com/#sthash.YmmEQouT.dpbs

    FOREX ECONOMIC CALENDAR :
    2013-08-15 12:30 GMT | US. Consumer Price Index (MoM)/(YoY) (Jul)
    2013-08-15 12:30 GMT | US. Initial Jobless Claims
    2013-08-15 13:15 GMT | US. Industrial Production (MoM) (Jul)
    2013-08-15 14:00 GMT | US. Philadelphia Fed Manufacturing Survey (Jul)

    FOREX NEWS :
    2013-08-15 04:35 GMT | EUR/GBP sitting above 0.8550 ahead of UK retail sales
    2013-08-15 04:22 GMT | USD/JPY hits ceiling at 97.80
    2013-08-15 03:45 GMT | GBP/AUD below 1.70 testing June highs as support now
    2013-08-15 03:15 GMT | AUD/JPY struggles to break 90.00 but looking bullish


    EURUSD :
    HIGH 1.33103 LOW 1.3253 BID 1.32896 ASK 1.32897 CHANGE 0.26% TIME 08 : 09:02

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Neutral channel formation remains in play on the hourly chart. Our next resistance level is placed above the local peak at 1.3310 (R1). Strengthening above it would point to resistive structure at 1.3341 (R2) onto 1.3367 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.3241 (S1). Possible price regress could expose our initial targets at 1.3223 (S2) and 1.3202 (S3) in potential.

    Resistance Levels: 1.3310, 1.3341, 1.3367
    Support Levels: 1.3241, 1.3223, 1.3202

    ---------------------
    GBPUSD :
    HIGH 1.55232 LOW 1.54978 BID 1.55187 ASK 1.55193 CHANGE 0.11% TIME 08 : 09:03

    [​IMG]

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

    Upwards scenario: Measures of resistance might be activating when the pair approaches the 1.5538 (R1) mark. Break here would suggest next interim target at 1.5566 (R2) and If the price keeps its momentum we expect an exposure of 1.5601 (R3). Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 1.5496 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 1.5467 (S2) and 1.5436 (S3).

    Resistance Levels: 1.5538, 1.5566, 1.5601
    Support Levels: 1.5496, 1.5467, 1.5436

    --------------------
    USDJPY :
    HIGH 98.296 LOW 97.584 BID 97.732 ASK 97.737 CHANGE -0.39% TIME 08:09:04

    [​IMG]

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

    Upwards scenario: Upside formation is limited now to the next resistive barrier at 98.25 (R1). Clearance here is required to provide a space for a move towards to next target at 98.56 (R2) and then final aim would be 98.77 (R3). Downwards scenario: We would shift our short-term technical outlook to the negative if the price manage to penetrate below the key support at 97.60 (S1). Loss here would suggest next initial targets at 97.30 (S2) and 97.02 (S3).

    Resistance Levels: 98.25, 98.56, 98.77
    Support Levels: 97.60, 97.30, 97.02

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