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Forex Technical & Market Analysis FXCC Nov 19 2013

Discussion in 'Major Currency Crosses' started by alayoua, Nov 19, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Nov 19 2013

    Dow Jones Index breaks 16000 as SPX and NASDAQ sell off at key levels, as Troika talks will resume in Athens this week

    Tuesday sees the publication of the ZEW German sentiment index and the ZEW Europe sentiment index. Both indices are expected to rise, Germany's up to 54.6 and Europe's up to 63.1. Two more FOMC members are due to speak, Dudley and Evans, whilst treasury secretary Lew is due to speak, the man who 'knocked heads' together over the debt impasse. Later in the evening Ben Bernanke holds court. New Zealand's PPI is published with the expectation of a number similar to the 0.6% of the previous month. Japan's trade balance is expected in at -0.88 trillion, with the all industries activity expected in at 0.5% up 0.2%. Greece's finance minister Yannis Stournaras will hold another session of talks with the country's various lenders this week. Relations between the Athens government and officials from the IMF/EC and ECB are tense, with little in the way of an agreement over how to address the fiscal gap in Greece's 2014 financial projections. That shortfall is estimated at €1.5bn and there's no roadmap in place as to how it will be fixed, although bond holders taking another haircut seems the most obvious solution. Looking towards equity index futures the DJIA is up 0.16%, SPX down 0.27%. European equity indices are up; STOXX up 0.88%, DAX up 0.65%, CAC up 0.64%, fits equity index future up 0.49%. On Monday NYMEX WTI oil closed the day down 0.88% at $93.01 per barrel, NYMEX nat gas down 1.17% at $3.62 per therm. COMEX gold closed the day down 0.95% at $1275.20 per ounce, silver on COMEX down 1.79% at $20.36 per ounce.
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    2013-11-19 10:00 GMT | DE ZEW Survey - Economic Sentiment (Nov)
    2013-11-19 13:45 GMT | US Treasury Sec Lew Speech
    2013-11-19 23:30 GMT | AU Westpac Leading Index (MoM) (Sep)
    2013-11-19 23:50 GMT | JP Merchandise Trade Balance Total (Oct)

    FOREX NEWS :
    2013-11-19 06:50 GMT | EUR/USD parked around 1.3500
    2013-11-19 06:02 GMT | AUD bids expected on largest Australian bond deal issuance
    2013-11-19 04:04 GMT | Dovish Yellen may limit further USD longs by specs - Rabobank
    2013-11-19 02:28 GMT | EUR/JPY wants to consolidate 134.70 front

    ----------------------
    EURUSD :
    HIGH 1.35231 LOW 1.34989 BID 1.35143 ASK 1.35148 CHANGE 0.07% TIME 08:52:00

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 1.3530 (R1) is required to push the price towards to our next visible targets at 1.3549 (R2) and 1.3567 (R3). Downwards scenario: On the downside we see potential to positively retest our supportive measure at 1.3494 (S1). Clearance here is required to open route towards to our initial targets at 1.3474 (S2) and 1.3454 (S3) in potential.

    Resistance Levels: 1.3530, 1.3549, 1.3567
    Support Levels: 1.3494, 1.3474, 1.3454

    ---------------------
    GBPUSD :
    HIGH 1.61242 LOW 1.60964 BID 1.61032 ASK 1.61041 CHANGE -0.04% TIME 08:52:01

    [​IMG]

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

    Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Further upwards penetration above the resistance at 1.6148 (R1) would enable intraday targets at 1.6177 (R2) and 1.6206 (R3). Downwards scenario: Risk of possible price depreciation is seen below the support level at 1.6081 (S1). Break here is required to open the way towards to immediate supports at 1.6053 (S2) and 1.6025 (S3).

    Resistance Levels: 1.6148, 1.6177, 1.6206
    Support Levels: 1.6081, 1.6053, 1.6025

    ----------------
    USDJPY :
    HIGH 100.001 LOW 99.571 BID 99.821 ASK 99.825 CHANGE -0.17% TIME 08:52:02

    [​IMG]

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

    Upwards scenario: On the upside potential is seen for a break above the resistance at 100.20 (R1). In such case we would suggest next target at 100.41 (R2) and any further rise would then be limited to final resistance at 100.62 (R3). Downwards scenario: We expect further correction evolvement if the price manages to overcome key supportive bastion at 99.56 (S1). In such case we would suggest next intraday targets at 99.35 (S2) and 99.13 (S3).

    Resistance Levels: 100.20, 100.41, 100.62
    Support Levels: 99.56, 99.35, 99.13

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