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Forex Technical & Market Analysis FXCC Oct 25 2013

Discussion in 'Major Currency Crosses' started by alayoua, Oct 25, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Oct 25 2013

    Will the UK's GDP figure beat the expectation of 0.8%?

    A major publication, that could impact on the UK FTSE and the value of sterling, is the latest UK preliminary GDP figure, published courtesy of the UK's ONS. The expectation is that the print will come in at 0.8%, up from 0.7% in the previous quarter. The German IFO business index is predicted to come in at an improved 108.2. The EU economic summit is worth keeping aware of given the potential for a surprise policy announcement. Core durable goods orders in the USA are expected to come in at 0.6% up from the -0.1% figure last month. The dollar lost 0.2 percent to $1.3801 per euro late in New York and reached $1.3825, the weakest since November 2011. It fell 0.1 percent to 97.28 yen after touching 97.16 Wednesday, the lowest since Oct. 9th. Europe’s shared currency gained 0.1 percent to 134.26 yen after rising as much as 0.5 percent earlier and weakening 0.2 percent. The dollar slid to a two-year low versus the euro as weaker-than-forecast economic data and concern that U.S. growth was hurt by a government shutdown added to bets the Federal Reserve will delay slowing stimulus until next year. The loonie, as the Canadian dollar is known, fell by 0.4 percent to C$1.0422 per U.S. dollar in Toronto. It has dropped as much as 1.5 percent during the past two days and reaching the weakest since Sept. 9th. One loonie buys 95.95 U.S. cents. The Canadian dollar had the biggest two-day slump in four months after the central bank altered its forward guidance narrative regarding future interest-rate rises that had been in place for more than a year, as risks of a worsening economy have increased.
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    24h | European Council meeting
    2013-10-25 08:00 GMT | DE IFO - Current Assessment (Oct)
    2013-10-25 08:30 GMT | UK Gross Domestic Product (YoY)
    2013-10-25 12:30 GMT | US Durable Goods Orders (Sep)

    FOREX NEWS :
    2013-10-25 05:03 GMT | USD/JPY collapses in tandem with Nikkei on highest Shibor since July
    2013-10-25 04:15 GMT | NZD/USD falls sharply amidst a better mood in Asian markets
    2013-10-25 04:14 GMT | EUR/USD keeps on testing 1.3820, break allows 1.3865
    2013-10-25 03:03 GMT | AUD/USD recovers support above 0.96

    ------------------
    EURUSD :
    HIGH 1.38323 LOW 1.37851 BID 1.38189 ASK 1.38193 CHANGE 0.13% TIME 08:37:41

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upside risk aversion is seen above the next resistance level at 1.3846 (R1). Appreciation above it might lead to the positive intraday bias formation towards to our next targets at 1.3874 (R2) and 1.3902 (R3) in potential. Downwards scenario: Possible downside extension is limited now to the support level at 1.3785 (S1). Break here is required to open a route towards to next target at 1.3758 (S2) and then any further easing would be targeting final support at 1.3729 (S3).

    Resistance Levels: 1.3846, 1.3874, 1.3902
    Support Levels: 1.3785, 1.3758, 1.3729

    -------------------
    GBPUSD :
    HIGH 1.62469 LOW 1.61795 BID 1.62296 ASK 1.62298 CHANGE 0.18% TIME 08:37:42

    [​IMG]

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

    Upwards scenario: Current positive bias development might face next resistive measure at 1.6257 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.6287 (R2) and 1.6318 (R3). Downwards scenario: On the other hand, if the price clear the supportive measure at 1.6178 (S1), we would suggest next target at 1.6148 (S2) and then final attractive point could be found at 1.6117 (S3) later on today.

    Resistance Levels: 1.6257, 1.6287, 1.6318
    Support Levels: 1.6178, 1.6148, 1.6117

    ----------------------
    USDJPY :
    HIGH 97.433 LOW 96.944 BID 97.062 ASK 97.064 CHANGE -0.22% TIME 08:37:43

    [​IMG]

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

    Upwards scenario: Medium term bias remains negative and possible price appreciation is limited now to resistive barrier at 97.37 (R1). Clearance of that level would suggest next intraday targets at 97.55 (R2) and 97.73 (R3). Downwards scenario: On the downside next challenge is seen at 96.93 (S1). Breakthrough here would open road for a price depreciation towards to our initial targets at 96.75 (S2) and 96.57 (R3) in potential.

    Resistance Levels: 97.37, 97.55, 97.73
    Support Levels: 96.93, 96.75, 96.57

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