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Forex Technical & Market Analysis FXCC Dec 12 2013

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

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Dec 12 2013

    Markets sell of due to 'taper' rumours, will better than expected unemployment numbers raise a seasonal cheer?

    Thursday Mario Draghi speaks, whilst the Swiss publish their monetary policy intentions and assessment with the Libor rate also published. The Swiss bank head Jordan will also hold a conference; the ECB will publish the latest monetary policy in the form of a monthly bulletin. European industrial production is expected to rise to 0.4% from the previous month's fall of -0.5%. In the USA core retail sales data is published, expected in at 0.2%, with retail sales up 0.6%. Unemployment claims are expected in at circa 321K after the surprise fall last week of 289K. Import prices in the USA are expected to fall to -0.7% (month on month). Canada's central bank governor Poloz speaks late on Thursday, whilst the business New Zealand index is published, expected to be similar to the previous month's print of 55.7, whilst Japan's revised industrial production is expected in at 0.5%, identical to the previous month's print. NYMEX WTI oil closed down on Wednesday by 1.13%, at $97.41 per barrel, with NYMEX nat gas closing up 2.43% on the day at $4.34 per therm. WTI advanced 5.3 percent last week, the most in five months, as U.S. crude inventories fell for the first time in 11 weeks and TransCanada Corp. announced plans to start part of its Keystone pipeline to the Gulf Coast from Cushing, Oklahoma, the delivery point for NYMEX futures. COMEX gold closed down 0.61% at $1253.40 per ounce with silver at $20.28 down 0.17% on the day. The DJIA equity index future is (at the time of writing) down 0.89%, SPX down 1.24% NASDAQ down 1.31%. Looking towards Europe's open the STOXX 50 future is down 0.61%, DAX future is down 0.54%, CAC future is down 0.34%, FTSE future down 0.81%.
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    2013-12-12 09:00 GMT | EU. ECB Monthly Report
    2013-12-12 09:00 GMT | Switzerland. SNB press conference
    2013-12-12 13:30 GMT | USA. Retail Sales (MoM) (Nov)
    2013-12-12 18:05 GMT | Canada. BoC Governor Poloz Speech

    FOREX NEWS :
    2013-12-12 02:49 GMT | Gold sees a little downside Wednesday; 1268.30 remains resistance
    2013-12-12 01:19 GMT | USD/JPY heading to the 100 handle?
    2013-12-12 00:41 GMT | AUD/USD spikes
    2013-12-12 00:20 GMT | GBP/USD posts bearish reversal candle Wednesday. Could it have a date with 1.6250?

    ------------------
    EURUSD :
    HIGH 1.37981 LOW 1.37731 BID 1.37889 ASK 1.37892 CHANGE 0% TIME 08 : 38:32

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3806 (R1). Price extension above it is required to validate our next intraday targets at 1.3832 (R2) and 1.3860 (R3). Downwards scenario: While instrument trades above the moving averages, our short-term bias would stay positive though penetration below the support level at 1.3757 (S1) might open way towards to lower targets at 1.3728 (S2) and 1.3706 (S3).

    Resistance Levels: 1.3806, 1.3832, 1.3860
    Support Levels: 1.3757, 1.3728, 1.3706

    ---------------------
    GBPUSD :
    HIGH 1.638 LOW 1.63533 BID 1.63654 ASK 1.63659 CHANGE 0% TIME 08 : 38:32

    [​IMG]

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

    Upwards scenario: Market descended, however price appreciation might be possible above the next resistance level at 1.6398 (R1). Break here is required to enable next attractive points at 1.6428 (R2) and 1.6465 (R3). Downwards scenario: Next support level is seen at 1.6346 (S1), any penetration below it might activate downside pressure and enable lower target at 1.6319 (S2). Any further market decline would then be limited to 1.6290 (S3).

    Resistance Levels: 1.6398, 1.6428, 1.6465
    Support Levels: 1.6346, 1.6319, 1.6290

    -----------------------
    USDJPY :
    HIGH 102.754 LOW 102.387 BID 102.649 ASK 102.651 CHANGE 0% TIME 08 : 38:32

    [​IMG]

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

    Upwards scenario: Any upside actions looks limited to resistance level at 102.93 (R1). Surpassing of this level might enable next target at 103.15 (R2) and any further gains would then be targeting final mark at 103.38 (R3) in potential. Downwards scenario: On the downside our attention is shifted to the immediate support level at 102.30 (S1). Break here is required to enable bearish forces and expose our intraday targets at 102.10 (S2) and 101.92 (S3).

    Resistance Levels: 102.93, 103.15, 103.38
    Support Levels: 102.30, 102.10, 101.92

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