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Forex Technical & Market Analysis FXCC Sep 25 2013

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

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Sep 25 2013

    Aussie, kiwi heavy; Tokyo stained with red

    Asian traders were rather inactive at the early going of Tokyo, with some Yen strength the main theme, yet as the session advanced, Aussie weakness also became dominant. In the US, following an uncertain and uneven Wall Street session after Fed’s comments on indefinite timing for bond-buying program, Asia registered mixed results in equity indexes with the Nikkei down 0.39%, pushing the yen higher. In New Zealand, the trade deficit expanded from $-771M to $-1191M beating estimates, for the worse, at $-743M. In Australia, the RBA said the banking system is liquid and in good shape and added the housing market data is strong and yet the Aussie remained heavy with slow progress upward.

    Japan prepared for the tankan results next week and market participants remain on their feet to any governmental decision to increase the sales taxes as Prime Minister Abe announce a potential increase based on tankan results despite the Spring 2014 plans to proceed with the monetary policies. In the futures contracts realm, all metals printed gains with notably copper advancing on positive Chinese consumer data along with gold registering gains worth 0.66% for the first time in the week to reach $1,325.00.
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    2013-09-25 06:00 GMT | DE Gfk Consumer Confidence Survey (Oct)
    2013-09-25 10:00 GMT | UK CBI Distributive Trades Survey - Realized (MoM) (Sep)
    2013-09-25 12:30 GMT | US Durable Goods Orders (Aug)
    2013-09-25 14:00 GMT | US New Home Sales (MoM) (Aug)

    FOREX NEWS :
    2013-09-25 05:05 GMT | EUR/USD threatening Tuesday low of 1.3463 ahead of Europe open
    2013-09-25 04:47 GMT | USD/JPY has downside risks in coming months - JPMorgan
    2013-09-25 04:24 GMT | AUD/USD is falling as “debt-ceiling” issue looms out
    2013-09-25 03:36 GMT | Gold rallies off Tuesday low at 1305.50, but runs into wall at 1326.80

    -------------------
    EURUSD
    HIGH 1.34809 LOW 1.34619 BID 1.34719 ASK 1.34722 CHANGE -0.01% TIME 08 : 47:09

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Next resistive barrier locates at 1.3497 (R1). Violation here is required to provide a signal of further market strengthening. In such case, resistances at 1.3520 (R2) and 1.3542 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: Further correction development might face next hurdle at 1.3458 (S1). Break here is required to open road towards to our next interim target at 1.3437 (S2), en route to final aim at 1.3415 (S3).

    Resistance Levels: 1.3497, 1.3520, 1.3542
    Support Levels: 1.3458, 1.3437, 1.3415

    -------------------
    GBPUSD :
    HIGH 1.60039 LOW 1.59794 BID 1.59904 ASK 1.59911 CHANGE -0.07% TIME 08 : 47:09

    [​IMG]

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

    Upwards scenario: A violation of next resistance at 1.6021 (R1) might call for a run towards to next target at 1.6060 (R2) and any further appreciation would then be limited to final target at 1.6097 (R3). Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.5954 (S1) is being able to drive market price towards to our next targets at 1.5912 (S2) and 1.5870 (S3).

    Resistance Levels: 1.6021, 1.6060, 1.6097
    Support Levels: 1.5954, 1.5912, 1.5870

    -----------------
    USDJPY :
    HIGH 98.798 LOW 98.557 BID 98.680 ASK 98.682 CHANGE -0.06% TIME 08 : 47:10

    [​IMG]

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

    Upwards scenario: Neutral tone remains favored on the hourly chart frame, however possible extension above the resistive measure at 98.92 (R1) would suggest next intraday targets at 99.07 (R2) and 99.21 (R3). Downwards scenario: On the other hand, new phase of downtrend formation might commence below the important support level at 98.56 (S1). Break here is required to validate our targets at 98.41 (S2) and 98.26 (S3) later on today.

    Resistance Levels: 98.92, 99.07, 99.21
    Support Levels: 98.56, 98.41, 98.26

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