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Forex Technical & Market Analysis FXCC Sep 20 2013

Discussion in 'Major Currency Crosses' started by alayoua, Sep 20, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Sep 20 2013

    Asset purchase schemes remaining static.

    As the tide went out on the shock decision by the FOMC regarding their asset purchase schemes remaining static, the markets in the USA appeared to pause for thought in Thursday's trading sessions. Looking at high impact news events the improved unemployment data was discounted given the fact that two states, including California, failed to proved jobs data as their computer systems were still off grid. Better news came in the form of house sales reaching a recent high, whilst the Philly Fed number came in off the scale in terms of positivity. The improved housing market news was added to by costs for U.S. home buyers predicted to fall from the highest level in two years after the Federal Reserve increased expectations that it will keep short-term interest rates at about zero percent. Rates on 30-year mortgages reached 4.93 percent in the week ended Sept 6th, the highest level seen since April 2011 and up from a record low of 3.57 percent in December, according to Mortgage Bankers Association data. The rate declined to 4.86 percent last week. Treasuries dropped the day after experiencing the biggest rally in two years as improved economic conditions made investors more certain that the Federal Reserve’s next move will be to reduce monetary stimulus. The 10-year yield rose six basis points or 0.06 percentage point to 2.75 percent late in the New York session. The price of the 2.5 percent note maturing in August 2023 dropped 17/32, or, $5.31 per $1,000 face value, to 97 26/32. The yield slid 16 basis points on Wednesday, the biggest decline since Oct 31st 2011.
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    2013-09-20 08:30 GMT | UK Public Sector Net Borrowing (Aug)
    2013-09-20 12:30 GMT | CA Consumer Price Index (YoY) (Aug)
    2013-09-20 14:00 GMT | EMU Consumer Confidence (Sep)
    2013-09-20 16:30 GMT | US Fed's George Speech

    FOREX NEWS :
    2013-09-20 05:18 GMT | RBA likely to ease again; AUD to trade heavy - NAB
    2013-09-20 05:15 GMT | GBP/USD bouncing modestly at 1.6042 after downside correction day Thursday
    2013-09-20 05:11 GMT | GBP/JPY finds strong supply at 160 round
    2013-09-20 04:38 GMT | EUR/GBP stalling below 0.8450 ahead of Germany elections

    ---------------------
    EURUSD :
    HIGH 1.35393 LOW 1.35279 BID 1.35354 ASK 1.35357 CHANGE 0.05% TIME 08 : 47:18

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Next hurdle that limit uptrend development lies at 1.3569 (R1). If the break occurs here we would suggest next attractive point at 1.3598 (R2) and any further rise would then be limited to final resistance at 1.3628 (R3). Downwards scenario: We placed our support level right below the local low at 1.3507 (S1). Clearance here is liable to open way towards to our interim target at 1.3474 (S2) and then might expose final aim at 1.3440 (S3).

    Resistance Levels: 1.3569, 1.3598, 1.3628
    Support Levels: 1.3507, 1.3474, 1.3440

    ---------------------
    GBPUSD :
    HIGH 1.60462 LOW 1.60238 BID 1.60450 ASK 1.60454 CHANGE 0.09% TIME 08 : 47:19

    [​IMG]

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

    Upwards scenario: Immediate resistance at 1.6082 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 1.6126 (R2) and any further rise would then be limited to final resistive measure at 1.6170 (R3) Downwards scenario: On the downside, next support level locates at 1.6021 (S1). Possible penetration below this mark would open way towards to next target at 1.5978 (S2) and then any further market decline would be limited to last mark at 1.5933 (S3).

    Resistance Levels: 1.6082, 1.6126, 1.6170
    Support Levels: 1.6021, 1.5578, 1.5933


    USDJPY :
    HIGH 99.562 LOW 99.174 BID 99.253 ASK 99.257 CHANGE -0.22% TIME 08 : 47:20

    [​IMG]

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

    Upwards scenario: Possible uptrend development is limited now to the next resistive measure at 99.63 (R1). Clearance here is required to enable our interim target at 99.85 (R2) en route to final aim at 100.06 (R3). Downwards scenario: Penetration below the support level at 99.10 (S1) might maintain a negative tone in near term perspective. In such case we would suggest next supportive measures at 98.87 (S2) and 98.64 (S3) as possible retracement targets.

    Resistance Levels: 99.63, 99.85, 100.06
    Support Levels: 99.10, 98.87, 98.64

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