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Old 04-13-2012, 09:34 AM
alayoua alayoua is offline
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Join Date: Jul 2011
Posts: 537
Default Daily Forex Market by FXCC 13Apr2012

Daily Forex Market by FXCC 13Apr2012

EUR/USD in correction mode below 1.3175 in Asia

EUR/USD is last quoted at 1.3171, off from session lows at 1.3163, and correcting from yesterday's and 6-day highs at 1.3211, losing a -0.12% since Asian session started. The news of the day are the lower than expected China 1Q GDP at +8.1% vs +8.4% consensus expectations, and the failed North Korean missile launch. Local share markets overall show gains, with Nikkei above the 9600 points mark higher by +1.31%. The London session ahead shows a soft agenda in Euro related macro data to be published, with CPI figures coming out from several countries like Spain, Italy and Germany all along the European morning, as well as Italy industrial production at 08:00 GMT.

USD/JPY retreated from its session highs immediately following the weaker than expected Q1 Chinese GDP number, as investors were caught off guard and the safe-haven JPY enjoyed a dose of risk-off flows. The pair managed to dip as low as 80.96 from its 81.18 peak, and has since bounced back to levels above the 81.00 mark, last at 81.10 versus 80.88 at the end of trading in New York.
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https://support.fxcc.com/email/technical/13042012/

UPCOMING EVENTS
2012-04-13 08:30 GMT | United Kingdom Producer Price Index - Input (MoM)
2012-04-13 08:30 GMT | United Kingdom Producer Price Index - Input (YoY)
2012-04-13 08:30 GMT | United Kingdom Producer Price Index - Output (MoM)
2012-04-13 08:30 GMT | United Kingdom Producer Price Index - Output (YoY)

FOREX NEWS
2012-04-13 04:26 GMT | EUR/USD in correction mode below 1.3175 in Asia
2012-04-13 02:10 GMT | China: Real GDP surprisingly weak at 8.1% in Q1
2012-04-13 02:02 GMT | China Mar Retail Sales (YoY) 15.2%
2012-04-13 02:01 GMT | China Mar Industrial Production (YoY) 11.9%

-------------------
EURUSD : 1.31724 / 1.31732
DAILY WEEKLY MONTHLY



1.3379 | 1.3341 | 1.3278 | 1.3214
1.3145 | 1.3088 | 1.3035 | 1.3000

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

EURUSD gained momentum in yesterday’s session and formed a higher bottom and top, successfully penetrating yesterday's resistance level. After that the price found a strong resistance at 1.3214 (R1) a strong technical lelvel. We expect the price to move upwards but only a break above 1.3214 (R1) will give as a confirmation for long positions targeting 1.3278 (R2) and further rise will then be limited at 1.3341 (R3). A stop loss should be placed at 1.3088 (S2).

-----------------
GBPUSD : 1.59491 / 1.59503
DAILY WEEKLY MONTHLY



1.6163 | 1.6110 | 1.6045 | 1.5984
1.5907 | 1.5852 | 1.5804 | 1.5751

SUMMARY : Up
TREND : Up trend
MA10 : Neutral
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

GBPUSD continued to move upwards forming a new top at 1.5984 (R1). A break above that level would suggest target at 1.6045 (R2) and further rise will then focus on 1.6110 (R3). On the other hand a break below 1.5907 (S1) would suggest target at 1.5852 and further fall will then be limited at 1.5804 (S3).

------------------
USDJPY : 81.031 / 81.035
DAILY WEEKLY MONTHLY



82.98 | 82.43 | 81.82 | 81.20
80.57 | 79.81 | 79.25 | 78.57

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Oversold


MARKET ANALYSIS - Intraday Analysis

The USDJPY didn’t make any significant moves in yesterday’s trading session as it moved between the first support and resistance level. A break in either direction will determine the trading bias in today`s session. A break below 80.57 will confirm our short positions targeting 79.81 (S2) and a further fall will be limited to 79.25 (S3). On the other hand, if the pair breaks above the first resistance level of 81.20 (R1), we would expect the price to retest 81.82 (R2) and a further rise will then focus at 82.43(R3).

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