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Forex Technical & Market Analysis FXCC Dec 26 2012

Discussion in 'Major Currency Crosses' started by alayoua, Dec 26, 2012.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Dec 26 2012

    Year In Preview: What Will 2013 Bring for the Euro?

    Another year has gone by and a lot has happened in the last twelve months, even as the European financial crisis continues to persist. But, taking a look at the next twelve months, and it’s easy to see that things are going to be that much calmer for the single currency in 2013. Here are some things to consider when January 1st rolls around. Shift in ECB Policy With European Union growth remaining lower for most of 2012, the European Central Bank has refrained from cutting rates amid persistently higher inflation. Although not rampant, the pace of consumer prices has risen by 2.2-2.5% annually in 2012 – a cause for at least some concern and a stay on rates. However, with inflation set to decline once again on slower growth, ECB policymakers may be at a favorable point in time to execute a rate cut of 25 basis points. The notion is being supported by growth forecasts by the central bank that pit EU contraction at about 0.3% for all of next year.

    The rate cut would be bearish for the Euro in the short term, but at least support the chance for growth in the wider EU region as periphery economies are expected to contribute handsomely to the decline in overall expansion. - FXstreet.com
    http://blog.fxcc.com/forex-technical-market-analysis-december-26-2012/

    Forex Economic Calendar
    2012-12-26 13:55 GMT | USA.Redbook index (YoY)
    2012-12-26 13:55 GMT | USA.Redbook index (MoM)
    2012-12-26 14:00 GMT | USA.S&P/Case-Shiller Home Price Indices (YoY) (Oct)
    2012-12-26 15:00 GMT | USA.Richmond Fed Manufacturing Index (Dec)

    Forex News
    2012-12-24 19:27 GMT | EUR/USD ends the day unchanged
    2012-12-24 18:12 GMT | GBP/USD to end the year around 1.63 - Rabobank
    2012-12-24 15:21 GMT | EUR/JPY hits 112.00 as investors price in comments from Japan
    2012-12-24 15:06 GMT | AUD/USD trading near calculated support at 1.0385/87


    -------------------
    EURUSD :
    HIGH 1.32332 LOW 1.31712 BID 1.31783 ASK 1.31787 CHANGE 0% TIME 08:23:45

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Next resistance level at 1.3217 (R1) locates above the local peak. Break here is required to enable next target at 1.3231 (R2) and any further rise would then be limited to 1.3246 (R3). Downwards scenario: Loss of next support at 1.3162 (S1) might drive market price towards to the next targets at 1.3148 (S2) and 1.3134 (S3).

    Resistance Levels: 1.3217, 1.3231, 1.3246
    Support Levels: 1.3162, 1.3148, 1.3134

    ------------------------
    GBPUSD :
    HIGH 1.62061 LOW 1.61009 BID 1.61202 ASK 1.61212 CHANGE 0% TIME 08:23:46

    [​IMG]

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

    Upwards scenario: Any upwards formation today is limited to resistive measures at 1.6149 (R1). A break above it would suggest next target at 1.6165 (R2). If the price holds its momentum we can expect a further rise towards to 1.6177 (R3). Downwards scenario: Further decline is possible below the next support level at 1.6109 (S1). Expected targets locate at 1.6097 (S2) and XX1.6084 (S3) in potential.

    Resistance Levels: 1.6149, 1.6165, 1.6177
    Support Levels: 1.6109, 1.6097, 1.6084

    -------------------
    USDJPY :
    HIGH 84.865 LOW 84.322 BID 84.785 ASK 84.793 CHANGE 0% TIME 08:23:48

    [​IMG]

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

    Upwards scenario: The short- term tendency is bullish as both moving averages are pointing up. Next resistance level is seen at 84.89 (R1), clearance here would open way for strengthening towards to next targets at 85.15 (R2) and 85.36 (R3). Downwards scenario: Retracement development is limited to the next support level at 84.61 (S1). Clearance here would open road towards to possible targets, located at 84.45 (S2) and 84.33 (S3).

    Resistance Levels: 84.89, 85.15, 85.36
    Support Levels: 84.61, 84.45, 84.33

    Source: FX Central Clearing Ltd,( ECN Broker List | Forex Trading Account | Currency Converter | FXCC )
     
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