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Forex Technical & Market Analysis FXCC Nov 15 2013

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

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Nov 15 2013

    European inflation is expected to fall to 0.7% whilst the USA empire manufacturing survey is expected to rise.

    The European CPI figure is published on Friday expected in at 0.7% year on year. Canada's manufacturing sales is expected in up 0.5%. The USA empire manufacturing survey is expected to print at 5.2 up from the previous month's 1.5. Import prices month on month are expected in down 0.4% whilst industrial production is expected in at 0.1% up for the month. The DJIA closed up 0.35% on Thursday, SPX up 0.48%, NASDAQ up 0.18%. European indices recovered strongly from the previous day's fall; STOXX up 1.08%, CAC up 1.04%, DAX up 1.05%, FTSE up 0.54%. Looking towards equity index futures the DJIA is up 0.38%, SPX up 0.52% and NASDAQ up 0.26%, CAC up 1.02%, DAX up 1.12%, FTSE up 0.57%. NYMEX WTI oil closed up 0.06% at $93.94 per barrel, NYMEX nat gas up 1.46% at $3.62 per therm. COMEX gold closed up on the day 1.43% at $1286.50 per ounce The U.S. Dollar Index, which monitors the greenback versus 10 major counterparts, was little changed at 1,018.81 at 3:19 p.m. in New York after dropping to 1,015.83, the lowest since Nov. 7th. The yen fell 0.8 percent to 100.06 per dollar after touching 100.15, the weakest level since Sept. 11th. Japan’s currency declined 0.6 percent to 134.68 per euro. The euro slid 0.2 percent to $1.3461 after declining as much as 0.5 percent. The dollar rose from the lowest level in a week as investors believe that the Federal Reserve is still moving toward reducing its bond buying after chairman-nominee Janet Yellen said it “will not continue indefinitely.”
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    24h | EMU EcoFin Meeting
    2013-11-15 10:00 GMT | EMU Consumer Price Index (YoY)
    2013-11-15 13:30 GMT | US Export Price Index (YoY) (Oct)
    2013-11-15 14:15 GMT | US Industrial Production (MoM) (Oct)

    FOREX NEWS :
    2013-11-15 06:44 GMT | EUR/GBP remains weak as Friday wears on; European data looms
    2013-11-15 06:35 GMT | USD/JPY re-visits 100.00 as intra-day specs sell-off
    2013-11-15 05:47 GMT | Aussie Dollar the biggest mover in an overall quiet session
    2013-11-15 05:27 GMT | EUR/USD should head towards 1.20 - Societe Generale


    EURUSD :
    HIGH 1.34639 LOW 1.34453 BID 1.34595 ASK 1.34598 CHANGE 0.03% TIME 08:44:33

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: EURUSD commenced consolidation phase, however, appreciation above the next resistance at 1.3488 (R1) might be a good catalyst for an upwards formation towards to next targets at 1.3511 (R2) and 1.3533 (R3). Downwards scenario: Risk of possible price regress is seen below the support level at 1.3433 (S1). Break here would suggest lower targets at 1.3412 (S2) and 1.3390 (S3) in potential.

    Resistance Levels: 1.3488, 1.3511, 1.3533
    Support Levels: 1.3433, 1.3412, 1.3390

    ----------------------
    GBPUSD :
    HIGH 1.60819 LOW 1.60512 BID 1.60791 ASK 1.60797 CHANGE 0.09% TIME 08:44:34

    [​IMG]

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

    Upwards scenario: Possible upwards extension above the resistive measure at 1.6101 (R1) is liable to commence medium-term bullish structure. Our intraday targets locates at 1.6134 (R2) and 1.6167 (R3) price levels. Downwards scenario: On the other hand, our next supportive barrier at 1.6031 (S1) prevents further downtrend expansion. Break here is required to enable lower targets at 1.5997 (S2) and 1.5964 (S3) in potential.

    Resistance Levels: 1.6101, 1.6134, 1.6167
    Support Levels: 1.6031, 1.5997, 1.5964

    ---------------------
    USDJPY :
    HIGH 100.305 LOW 99.94 BID 100.017 ASK 100.020 CHANGE 0.02% TIME 08:44:35

    [​IMG]

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

    Upwards scenario: Measures of resistance might be activating when the pair approaches 100.31 (R1). Break here would suggest next interim target at 100.57 (R2) and If the pair keeps its momentum we would expect an exposure of 100.82 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 99.79 (S1). Loss here would suggest to monitor marks at 99.52 (S2) and 99.26 (S3) as possible intraday targets.

    Resistance Levels: 100.31, 100.57, 100.82
    Support Levels: 99.79, 99.52, 99.26

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