1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forex Technical & Market Analysis FXCC Nov 05 2013

Discussion in 'Major Currency Crosses' started by alayoua, Nov 5, 2013.

  1. alayoua

    alayoua New Member

    Joined:
    Jul 19, 2011
    Messages:
    289
    Likes Received:
    0
    Forex Technical & Market Analysis FXCC Nov 05 2013

    China's Li sets min GDP at 7,2%, warns against stimulus

    The Chinese economy should keep its growth rate levels at 7.2% or above to keep generating enough jobs, said Premier Li Keqiang, also underscoring that relying too much on short term liquidity injections/stimulus should not be the primary focus as it risks similar fiscal problems faced by the Euro zone. Based on early projections, Li said Q3 economic indicators are in line to meet yearly targets, while warning looser policies should be avoided, saying that money supply - M2 - stands at a dangerous CNY100 trillion, twice China's GDP. According to Li, cited by MNI, in comments made in an October 21 speech made public Monday: "We have too much money in the pool. If we print more money, it may cause inflation. We all know bad inflation will not only disturb markets but also have big side effects and pressure people's lives and even cause panic."
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    2013-11-05 10:00 GMT | European Commission Releases Economic Growth Forecasts
    2013-11-05 15:00 GMT | US ISM Non-Manufacturing PMI (Oct)
    2013-11-05 21:45 GMT | NZ Unemployment Rate (Q3)
    2013-11-05 23:50 GMT | BoJ Monetary Policy Meeting Minutes

    FOREX NEWS :
    2013-11-05 06:27 GMT | EUR/JPY tumbles alongside with Nikkei decline
    2013-11-05 06:02 GMT | NZD/USD tumbled on RBA comments; now slightly higher
    2013-11-05 04:19 GMT | EUR/USD at risk of 1.34 - Westpac
    2013-11-05 03:35 GMT | RBA keeps neutral statement, AUD uncomfortably high

    ----------------------
    EURUSD :
    HIGH 1.35225 LOW 1.3491 BID 1.34972 ASK 1.34977 CHANGE -0.13% TIME 08:45:23

    [​IMG]

    OUTLOOK SUMMARY : Down
    TREND CONDITION : Down trend
    TRADERS SENTIMENT : Bullish
    IMPLIED VOLATILITY : Medium

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Price strengthening is possible above the next resistance level at 1.3526 (R1). Our interim target holds at 1.3553 (R2) en route to our final aim for today at 1.3581(R3). Downwards scenario: Opportunity for bearish oriented traders is seen below the important support level at 1.3478 (S1). Loss here would open door for the downtrend expansion towards to interim targets at 1.3453 (S2) and 1.3427 (S3).

    Resistance Levels: 1.3526, 1.3553, 1.3581
    Support Levels: 1.3478, 1.3453, 1.3427

    -----------------------
    GBPUSD :
    HIGH 1.59821 LOW 1.59553 BID 1.59649 ASK 1.59657 CHANGE -0.02% TIME 08:45:24

    [​IMG]

    OUTLOOK SUMMARY : Down
    TREND CONDITION : Upward penetration
    TRADERS SENTIMENT : Bearish
    IMPLIED VOLATILITY : Medium

    Upwards scenario: GBPUSD is approaching our next resistance level at 1.5983 (R1), keeping the short-term ascending structure intact. The break here is required for the price appreciation towards to next target at 1.6007 (R2) and any further rise would then be targeting to 1.6034 (R3). Downwards scenario: Risk of price depreciation is seen below the support level at 1.5940 (S1). A fall below it might initiate retracement formation towards to next support at 1.5916 (S2) and any further market decline would then be targeting final support at 1.5892 (S3).

    Resistance Levels: 1.5983, 1.6007, 1.6034
    Support Levels: 1.5940, 1.5916, 1.5892

    -----------------------
    USDJPY :
    HIGH 98.674 LOW 98.24 BID 98.446 ASK 98.448 CHANGE -0.16% TIME 08:45:27

    [​IMG]

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

    Upwards scenario: Immediate resistance at 98.71 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 98.92 (R2) and any further rise would then be limited to final resistive measure at 99.15 (R3) Downwards scenario: Any penetration below the support level at 98.23 (S1) might create more scope for the instrument weakness in near-term perspective. We are looking to our immediate supports at 98.01 (S2) and 97.80 (S3) as next possible targets.

    Resistance Levels: 98.71, 98.92, 99.15
    Support Levels: 98.23, 98.01, 97.80

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

Share This Page