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Forex Technical & Market Analysis FXCC Oct 11 2013

Discussion in 'Major Currency Crosses' started by alayoua, Oct 11, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Oct 11 2013

    ECB Agrees on swap line with PBOC as Chinese trade increases

    The European Central Bank and the People’s Bank of China agreed to establish a bilateral currency swap line on Thursday, increasing access to trade finance in the euro area and strengthening the international use of the yuan. The swap line will be valid for three years and have a maximum size of 350 billion yuan ($57 billion) when Chinese currency is provided to the ECB and 45 billion euros ($61 billion) when money is given to the PBOC. The arrangement is available to all Eurosystem counter-parties via national central banks, it said. House Speaker John Boehner has proposed extending the federal debt limit until Nov. 22nd as a way to shift debate back to a government-spending bill. The bill wouldn’t end the partial shutdown of the government, which began Oct. 1st after Republicans insisted on changes to the 2010 health-care law. Boehner told reporters the House wants to “offer the president today the ability to move.”
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    24h | G20 Finance Ministers and Central Bank Governors Meeting
    24h | IMF Meeting
    2013-10-11 06:00 GMT | DE Harmonised Index of Consumer Prices (YoY) (Sep)
    2013-10-11 12:30 GMT | CA Unemployment Rate (Sep)

    FOREX NEWS :
    2013-10-11 05:26 GMT | USD/CHF struggles to keep the 0.9100 level
    2013-10-11 04:56 GMT | USD/CAD sits on the fence ahead of Canadian labor data, BoC outlook
    2013-10-11 04:24 GMT | AUD/USD upwards amidst easing worries on US fiscal issues
    2013-10-11 03:01 GMT | EUR/USD on steady climb to 1.3540


    EURUSD :
    HIGH 1.35441 LOW 1.35178 BID 1.35347 ASK 1.35350 CHANGE 0.11% TIME 08:37:18

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: On the upside current structure might face next hurdle at 1.3546 (R1). Successful penetration above that mark would suggest next target zone – 1.3559 (R2) onto 1.3573 (R3) price levels. Downwards scenario: Any downside fluctuations remains for now limited to the next support barrier at 1.3517 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.3503 (S2) and 1.3489 (S3) in potential

    Resistance Levels: 1.3546, 1.3559, 1.3573
    Support Levels: 1.3517, 1.3503, 1.3489

    ------------------
    GBPUSD :
    HIGH 1.59903 LOW 1.5963 BID 1.59881 ASK 1.59885 CHANGE 0.13% TIME 08:37:18

    [​IMG]

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

    Upwards scenario: Our next resistance level is placed at 1.5993 (R1). Clearance here is required to commence ascending structure towards to next target at 1.6023 (R2) and any further price appreciation would then be limited to 1.6053 (R3) mark. Downwards scenario: On the other side, a dip below the initial support level at 1.5950 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 1.5921 (S2) and 1.5891 (S3) in potential.

    Resistance Levels: 1.5993, 1.6023, 1.6053
    Support Levels: 1.5950, 1.5921, 1.5891

    --------------------
    USDJPY :
    HIGH 98.552 LOW 97.921 BID 98.370 ASK 98.373 CHANGE 0.23% TIME 08:37:19

    [​IMG]

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

    Upwards scenario: USDJPY resumed upwards penetration today and we see potential to expose our intraday targets at 98.72 (R2) and 98.88 (R3) if the price manages to overcome key resistance measure at 98.56 (R1). Downwards scenario: Possible downside pressure could be maintained if the price penetrates below the support measure at 98.24 (S1). Clearance here would open way for a price move towards to lower targets at 98.08 (S2) and 97.92 (S3).

    Resistance Levels: 98.56, 98.72, 98.88
    Support Levels: 98.24, 98.08, 97.92

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