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Forex Technical & Market Analysis FXCC Jul 31 2013

Discussion in 'Major Currency Crosses' started by alayoua, Jul 31, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Jul 31 2013

    The world awaits the FOMC decision and statements

    Unlike many of the recent Fed meetings, Today’s meeting will feature only the FOMC’s decision and accompanying statement – but still the world is watching. Today’s interest rate decision will only be accompanied by their official statement regarding their decision. Traders and analysts are hoping for more guidance on the Fed’s plans regarding their bond buying program.
    https://support.fxcc.com/email/technical/31072013/

    FOREX ECONOMIC CALENDAR :
    2013-07-31 09:00 GMT | EMU. Consumer Price Index - Core (YoY)
    2013-07-31 12:30 GMT | USA. Gross Domestic Product Annualized (Q2)
    2013-07-31 18:00 GMT | USA. Fed Interest Rate Decision
    2013-07-31 18:00 GMT | USA. Fed's Monetary Policy Statement and press conference

    FOREX NEWS :
    2013-07-31 04:43 GMT | Today is the big day, USD to be pressured - SocGen
    2013-07-31 04:29 GMT | FOMC client survey results; most hold USD longs - Nomura
    2013-07-31 04:25 GMT | NZD/USD holding above 0.7950 while capped below 0.80
    2013-07-31 04:04 GMT | USD to strengthen as 'dovish' Fed priced in - RBS


    EURUSD :
    HIGH 1.3268 LOW 1.32517 BID 1.32572 ASK 1.32577 CHANGE -0.04% TIME 08:46:29

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: All supports and resistances remains the same today. Mark at 1.3273 (R1) acts as next resistive barrier on the way if the pair keeps it upside potential. Break here is required to achieve higher targets at 1.3288 (R2) and 1.3304 (R3) later on today. Downwards scenario: On the other side, depreciation below the support at 1.3247 (S1) might shift short-term tendency to the bearish side and validate our intraday targets at 1.3232 (S2) and 1.3217(S3).

    Resistance Levels: 1.3273, 1.3288, 1.3304
    Support Levels: 1.3247, 1.3232, 1.3217

    --------------------------
    GBPUSD :
    HIGH 1.52434 LOW 1.52185 BID 1.52244 ASK 1.52250 CHANGE -0.09% TIME 08:46:30

    [​IMG]

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

    Upwards scenario: Instrument gained momentum on the downside recently, turning short-term bias to the negative side. Though, upwards penetration above the resistance at 1.5252 (R1) might enable bullish forces and expose our initial targets at 1.5267 (R2) and 1.5282 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.5215 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.5205 (S2) and then 1.5186 (S3).

    Resistance Levels: 1.5252, 1.5267, 1.5282
    Support Levels: 1.5215, 1.5205, 1.5186

    --------------------
    USDJPY :
    HIGH 98.162 LOW 97.847 BID 98.019 ASK 98.020 CHANGE -0.01% TIME 08:46:31

    [​IMG]

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

    Upwards scenario: Possible volatility increase might commence new phase of downtrend extension either prolong retracement formation on the hourly chart frame. Price appreciation above the resistance at 98.23 (R1) would suggest intraday targets at 98.44 (R2) and 98.65 (R3). Downwards scenario: On the downside, next on tap is seen support level at 97.74 (S1). Clearance here is required to enable lower targets at 97.49 (S2) and 97.25 (S3)

    Resistance Levels: 98.23, 98.44, 98.65
    Support Levels: 97.74, 97.49, 97.25

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