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Forex Technical & Market Analysis FXCC Oct 02 2013

Discussion in 'Major Currency Crosses' started by alayoua, Oct 2, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Oct 02 2013

    Ben Bernanke may delay taper if shut down impasse continues

    The Swiss franc appears to have become the safe haven currency of choice during the USA partial govt. shutdown. The Swiss franc rose to its highest level versus the dollar in nineteen months as a partial shutdown of the U.S. government increased demand for Switzerland’s currency as a safe haven currency. The franc is typically sought by investors seeking safety at times of heightened global stress and it climbed versus all but two of its 16 major currency peers during Tuesday's trading sessions. Versus the USD it strengthened through 90 cents per dollar for the first time since Feb. 29, 2012. The Swiss currency rose 0.3 percent to 90.23 centimes per dollar at 10:50 a.m. in Zurich, after rising to as much as 89.93 centimes. Versus the euro it was little changed at 1.2225. The dollar traded at close to its lowest level seen since February as the partial shutdown of the U.S. government increased speculation that the Federal Reserve will persevere with its asset purchases, therefore weakening the currency. The U.S. currency was little changed at $1.3526 per euro after depreciating to $1.3588, the weakest level seen since Feb 6th. The yen gained by 0.3 percent to 98 per dollar and climbed 0.3 percent to 132.55 per euro.

    FOREX ECONOMIC CALENDAR :
    2013-10-02 11:45 GMT | ECB Interest Rate Decision
    2013-10-02 12:30 GMT | ECB Monetary policy statement and press conference
    2013-10-02 19:30 GMT | US Fed's Bernanke Speech
    2013-10-02 23:50 GMT | JP Foreign investment in Japan stocks

    FOREX NEWS :
    2013-10-02 04:48 GMT | EUR/USD sitting on the fence ahead of ECB
    2013-10-02 04:11 GMT | GBP/AUD soars on dismal AUD data
    2013-10-02 03:46 GMT | RBA next rate cut delayed till February - NAB
    2013-10-02 03:12 GMT | Japan’s the black sheep among winning indexes in Asia


    EURUSD :
    HIGH 1.35282 LOW 1.35074 BID 1.35240 ASK 1.35244 CHANGE -0.01% TIME 08 : 32:56

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Fractals level at 1.3536 (R1) offers a key resistive measure on the upside. Break here is required to enable bullish pressure and validate next target at 1.3551 (R2). Final support for today locates at 1.3566 (R3). Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3506 (S1). Penetration below this mark would suggest next targets at 1.3491 (S2) and 1.3475 (S3).

    Resistance Levels: 1.3536, 1.3551, 1.3566
    Support Levels: 1.3506, 1.3491, 1.3475

    ----------------------------
    GBPUSD :
    HIGH 1.62001 LOW 1.61625 BID 1.61790 ASK 1.61795 CHANGE -0.1% TIME 08 : 32:57

    [​IMG]

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

    Upwards scenario: Possible upwards extension above the resistance level at 1.6210 (R1) is liable to commence medium-term bullish structure. Important fractal levels offers next targets at 1.6238 (R2) and 1.6265 (R3) in potential. Downwards scenario: Risk of further correction expansion is seen below the support barrier at 1.6158 (S1). Break here is required to enable our intraday targets at 1.6130 (S2) and 1.6103 (S3) on the downside.

    Resistance Levels: 1.6210, 1.6238, 1.6265
    Support Levels: 1.6158, 1.6130, 1.6103

    ----------------------
    USDJPY :
    HIGH 98.085 LOW 97.639 BID 97.648 ASK 97.651 CHANGE -0.37% TIME 08 : 32:57

    [​IMG]

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

    Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 98.09 (R1) is required to push the price towards to our next visible targets at 98.33 (R2) and 98.56 (R3). Downwards scenario: As long as price stays below the moving averages our short-term outlook would be negative. Possible extension lower the 97.50 (S1) is being able to drive market price towards to initial supports at 97.25 (S2) and 97.01 (S3).

    Resistance Levels: 98.09, 98.33, 98.56
    Support Levels: 97.50, 97.25, 97.01

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