1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forex Technical & Market Analysis FXCC Sep 04 2013

Discussion in 'Major Currency Crosses' started by alayoua, Sep 4, 2013.

  1. alayoua

    alayoua New Member

    Joined:
    Jul 19, 2011
    Messages:
    289
    Likes Received:
    0
    Forex Technical & Market Analysis FXCC Sep 04 2013

    New Syria resolution in Senate sets 90-day deadline for U.S. military action

    A new use-of-force resolution for Syria sets a 60-day deadline, with one 30-day extension possible, for U.S. President Barack Obama to launch military strikes against Syria, reports Politico from a revised draft authorization, also adding it will also bar the involvement of U.S. ground forces in Syria. As Politico adds: "The revised resolution was crafted by Sens. Robert Menendez (D-N.J.) and Bob Corker (R-Tenn.), the chairman and ranking member of the Foreign Relations Committee, following several days of negotiations." The proposal could go for voting by Wednesday.
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    2013-09-04 09:00 GMT | EMU Gross Domestic Product s.a. (YoY) (Q2)
    2013-09-04 12:30 GMT | US Trade Balance (Jul)
    2013-09-04 14:00 GMT | CA BoC Interest Rate Decision
    2013-09-04 18:00 GMT | US Fed's Beige Book

    FOREX NEWS :
    2013-09-04 05:20 GMT | Deeply oversold EUR/GBP breaking all support and projections on downside
    2013-09-04 05:14 GMT | USD/CHF is trading nearly its daily highs
    2013-09-04 04:17 GMT | GBP/USD stuck below 1.5587 key hurdle ahead of Wednesday’s data
    2013-09-04 04:00 GMT | EUR/USD, potential of a sharp test of 1.3050 - ANZ

    -------------------------
    EURUSD :
    HIGH 1.31761 LOW 1.31619 BID 1.31678 ASK 1.31682 CHANGE -0.02% TIME 08:51:30

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Price dip lower yesterday and finally stabilized near its local low. A violation of next resistance at 1.3194 (R1) might call for a run towards to next target at 1.3215 (R2) and any further appreciation would then be limited to final target at 1.3235 (R3). Downwards scenario: Fresh low formed today offers an important resistive measure at 1.3138 (S1). Break here is required to drive market price towards to next visible targets at 1.3117 (S2) and 1.3097 (S3) later on today.

    Resistance Levels: 1.3194, 1.3215, 1.3235
    Support Levels: 1.3138, 1.3117, 1.3097

    -----------------------
    GBPUSD :
    HIGH 1.55677 LOW 1.5555 BID 1.55616 ASK 1.55621 CHANGE 0.01% TIME 08:51:30

    [​IMG]

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

    Upwards scenario: Neutral tone remains favored on the hourly chart frame, however possible extension above the resistive measure at 1.5582 (R1) would suggest next intraday targets at 1.5597 (R2) and 1.5611 (R3). Downwards scenario: An evidence of possible descending structure could be provided if the pair manages to surpass key support level at 1.5543 (S1). In such case we would suggest next intraday targets at 1.5529 (S2) and 1.5514 (S3).

    Resistance Levels: 1.5582, 1.5597, 1.5611
    Support Levels: 1.5543, 1.5529, 1.5514

    ----------------------
    USDJPY :
    HIGH 99.769 LOW 99.418 BID 99.723 ASK 99.725 CHANGE 0.15% TIME 08:51:31

    [​IMG]

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

    Upwards scenario: Market remains relatively stable above the moving averages. Clearance of next resistance level at 99.88 (R1) might initiates bullish pressure and expose our intraday targets at 100.15 (R2) and 100.41 (R3) later on today. Downwards scenario: Any downside extension is limited now to the next support level at 99.40 (S1). Below here we see potential for the price acceleration towards to next targets at 99.14 (S2) and 98.89 (S3).

    Resistance Levels: 99.88, 100.15, 100.41
    Support Levels: 99.40, 99.14, 98.89

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

Share This Page