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Forex Technical & Market Analysis FXCC Sep 03 2013

Discussion in 'Major Currency Crosses' started by alayoua, Sep 3, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Sep 03 2013

    RBA keeps rate at 2.5%, easing bias removal?

    The Reserve Bank of Australia left rates unchanged at 2.5% record lows, with the Monetary Policy Statement offering some interesting clues, saying "the Board will continue to assess the outlook and adjust policy as needed", omitting a more aggressive narrative seen in last few months. While the door to reduce rates further is not closed, the statement sounds not as dovish as one may have expected, yet the value of the Australian Dollar and domestic indicators will continue to determine the future rate setting. For now, looks like AUD bulls will gain Sept battle.
    https://support.fxcc.com/email/technical/03092013/

    FOREX ECONOMIC CALENDAR :
    2013-09-03 08:30 GMT | UK PMI Construction (Aug)
    2013-09-03 09:00 GMT | EMU Producer Price Index (YoY) (Jul)
    2013-09-03 12:58 GMT | US Markit Manufacturing PMI (Aug)
    2013-09-03 14:00 GMT | US ISM Manufacturing PMI (Aug)

    FOREX NEWS :
    2013-09-03 05:38 GMT | GBP/USD drifting higher for a 3rd session after rough 2 weeks; 1.5587 key hurdle
    2013-09-03 05:07 GMT | AUD/USD spikes above 0.9000 after RBA
    2013-09-03 04:19 GMT | EUR/USD extends choppy range; remains at 30-day lows
    2013-09-03 04:03 GMT | USD/JPY continues to consolidate above 99.00

    -------------------------
    EURUSD :
    HIGH 1.31968 LOW 1.31778 BID 1.31800 ASK 1.31804 CHANGE -0.08% TIME 08:44:17

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Possibility of retracement formation is seen above the yesterday high -1.3227 (R1). Break here is required to clear the way towards to higher targets at 1.3248 (R2) and 1.3269 (R3). Downwards scenario: We placed our support level right below the local low at 1.3173 (S1). Clearance here is liable to open way towards to our interim target at 1.3152 (S2) and then might expose final aim at 1.3130 (S3).

    Resistance Levels: 1.3227, 1.3248, 1.3269
    Support Levels: 1.3173, 1.3152, 1.3130

    ----------------------
    GBPUSD :
    HIGH 1.5562 LOW 1.55379 BID 1.55491 ASK 1.55498 CHANGE 0.05% TIME 08:44:17

    [​IMG]

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

    Upwards scenario: Fresh fractal level at 1.5562 (R1) prevents further gains. Successful clearance here would suggest next intraday targets at 1.5580 (R2) and 1.5597 (R3). Downwards scenario: On the downside, next support level locates at 1.5530 (S1). Possible penetration below this mark would open way towards to next target at 1.5513 (S2) and then any further market decline would be limited to last mark at 1.5496 (S3).

    Resistance Levels: 1.5562, 1.5580, 1.5597
    Support Levels: 1.5530, 1.5513, 1.5496

    -----------------------
    USDJPY :
    HIGH 99.703 LOW 99.302 BID 99.555 ASK 99.557 CHANGE 0.24% TIME 08:44:18

    [​IMG]

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

    Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 99.71 (R1), break here would suggest next intraday targets at 99.93 (R2) and 100.15 (R3). Downwards scenario: Failure to establish positive bias today would shift our focus to the next support level at 99.29 (S1). Clearance here would open way towards to next targets at 99.06 (S2) and 98.82 (S3).

    Resistance Levels: 99.71, 99.93, 100.15
    Support Levels: 99.29, 99.06, 98.82

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