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Forex Technical & Market Analysis FXCC Sep 27 2013

Discussion in 'Major Currency Crosses' started by alayoua, Sep 27, 2013.

  1. alayoua

    alayoua New Member

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    Forex Technical & Market Analysis FXCC Sep 27 2013

    USA Congress still at odds over debt ceiling

    Despite the hope that the USA will eventually agree a new debt ceiling, U.S. Congress has failed to pass the necessary budget, Republicans and Democrats continue to disagree over whether to stop funding the 2010 health-care initiative known as Obamacare, thereby threatening a a government shutdown by Oct 1st. Equities rose in Thursday's trading sessions, with the Standard & Poor’s 500 Index rising by 0.4 percent to 1,698.67 at the close in the New York session. The yield on the 10-year Treasury note also climbed two basis points, or 0.02 percentage point, to 2.65 percent. Other data sets published on Thursday may have confirmed that the USA economy improved in the second quarter of 2013, however, positive GDP numbers were countered by fewer Americans signing contracts to buy previously owned homes in August. USA GDP rose at a 2.48% percent annual rate, unrevised from the previous estimate, after expanding 1.1 percent in the first quarter, the USA Commerce Department reported. The index of pending home sales fell 1.6 percent, the recent rise in mortgage rates slowing momentum in the housing market, according to figures from the National Association of Realtors.
    http://blog.fxcc.com/market-analysis

    FOREX ECONOMIC CALENDAR :
    2013-09-27 12:00 GMT | DE.Harmonised Index of Consumer Prices (YoY) (Sep)Preliminar
    2013-09-27 12:00 GMT | DE.Consumer Price Index (MoM) (Sep)Preliminar
    2013-09-27 12:30 GMT | US.Personal Spending (Aug)
    2013-09-27 12:30 GMT | US.Personal Income (MoM) (Aug)

    FOREX NEWS :
    2013-09-27 05:01 GMT | EUR/CHF at six-week low
    2013-09-27 04:02 GMT | EUR/USD under pressure on Italian political uncertainty
    2013-09-27 02:53 GMT | AUD/JPY dives to 92.13 bottoms
    2013-09-27 02:37 GMT | EUR/JPY cracks down to 133.02 lows


    EURUSD :
    HIGH 1.3491 LOW 1.34742 BID 1.34868 ASK 1.34871 CHANGE -0.01% TIME 08 : 11:57

    [​IMG]

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

    MARKET ANALYSIS - Intraday Analysis

    Upwards scenario: Resistance level at 1.3504 (R1) acts as reference point for further market strengthening. Break here is required to enable next interim target at 1.3523 (R2) en route towards to final aim for today at 1.3542 (R3). Downwards scenario: Next challenge on the downside is seen at 1.3472 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 1.3452 (S2) and 1.3435 (R3) later on today.

    Resistance Levels: 1.3504, 1.3523, 1.3542
    Support Levels: 1.3472, 1.3452, 1.3435


    GBPUSD :
    HIGH 1.60532 LOW 1.603 BID 1.60506 ASK 1.60511 CHANGE 0.06% TIME 08 : 11:57

    [​IMG]

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

    Upwards scenario: Our attention on the upside is put to the next resistive barrier at 1.6139 (R1). Break here is required to stimulate bullish forces to expose initial targets at 1.6170 (R2) and 1.6206 (R3) later on today. Downwards scenario: We do expect some pull-backs development on the downside below the support level at 1.6030 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 1.6000 (S2) and 1.5964 (S3).

    Resistance Levels: 1.6139. 1.6170, 1.6206
    Support Levels: 1.6030, 1.6000, 1.5964

    -----------------------
    USDJPY :
    HIGH 99.04 LOW 98.624 BID 98.634 ASK 98.636 CHANGE -0.34% TIME 08 : 11:58

    [​IMG]

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

    Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 99.05 (R1). Break here would open road towards to our interim aim at 99.33 (R2) and enable final intraday resistive measure at 99.58 (R3). Downwards scenario: On the other hand, our next support level aligns at 98.56 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 98.25 (S2) and 97.97 (S3).

    Resistance Levels: 99.05, 99.33, 99.58
    Support Levels: 98.56, 98.25, 97.97

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