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Old 04-06-2012, 10:03 AM
alayoua alayoua is offline
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Join Date: Jul 2011
Posts: 537
Default Daily Forex Market by FXCC 06Apr2012

Daily Forex Market by FXCC 06Apr2012

EUR/USD flat in Asia around 1.3070

EUR/USD had a little lift ahead of Shanghai open from session lows 1.3153 up to current 1.3069, and that was about it. Trapped in a tiny spread of 3 pips for the last two hours, the pair just sits above NY highs, holding onto some -0.53% from yesterday's Asian open, with Australia, New Zealand, Hong-Kong and Singapure on holidays for current session. The day ahead shows a blank agenda for the London session as both UK and Europe mainland will be closed on holidays, and main risk event will be US NFP at 12:30 GMT which is expected widely above the +200k figure for jobs added in the non farm payroll

With Tokyo the largest FX trading center open during the Asia-Pacific session, the USD/JPY pair is getting some modest action in an otherwise comatose start to trading this Friday due to the upcoming Easter holiday.
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https://support.fxcc.com/email/technical/06042012/

UPCOMING EVENTS
2012-04-06 06:45 GMT | France Trade Balance EUR (Feb)
2012-04-06 12:30 GMT | United States Nonfarm Payrolls (Mar)
2012-04-06 12:30 GMT | United States Average Hourly Earnings (MoM) (Mar)
2012-04-06 12:30 GMT | United States Unemployment Rate (Mar)

FOREX NEWS
2012-04-06 05:06 GMT | Japan Coincident Index increase to 93.7 in Mar
2012-04-06 05:04 GMT | Japan: Leading Economic Index (Feb): 96.6
2012-04-06 02:10 GMT | EUR/AUD paused above 8-day low 1.2660
2012-04-06 00:56 GMT | EUR/USD holds above 1.3050 after overnight push down

------------------
EURUSD : 1.30754 / 1.30763
DAILY WEEKLY MONTHLY



1.3341 | 1.3248 | 1.3205 | 1.3107
1.3035 | 1.3000 | 1.2951 | 1.2911

SUMMARY : Down
TREND : Down trend
MA10 : Neutral
MA20 : Neutral
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

EURUSD fell below our first support and formed a new bottom at 1.3035 (S1). After that the price rise and closed below the first resistance level. We expect the EURUSD to find a strong support around 1.3000 (S2) as it is a strong technical and psychological level for the bulls. We might see a correction upwards and then a continuation of the downtrend or we can see a continuation of the downtrend without a correction. Our recommendations for today’s trading session is no positions as in the last 3-4 sessions we got around 250 pips of profit on this pair and it is better to wait until we see which of the bulls of the bear will win the battle. No position.

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GBPUSD : 1.58562 / 1.58578
DAILY WEEKLY MONTHLY



1.6063 | 1.6016 | 1.5965 | 1.5909
1.5804 | 1.5751 | 1.5703 | 1.5643

SUMMARY : Down
TREND : Down trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

The GBPUSD fell and formed a strong support at 1.5804 (S1) a significant technical and psychological level. Following that, the price rise and now is moving below the first resistance level. The same with this pair as since this week we made around 250 pips in profit we remain flat as we expect the pair to find a strong support at 1.5804 (S1). Now it is very important what the bearish have in mind and if the traders will hold their short positions against the GBP. No position.

----------------
USDJPY : 82.251 / 82.256
DAILY WEEKLY MONTHLY



84.00 | 83.31 | 82.98 | 82.43
81.82 | 81.54 | 81.05 | 80.55

SUMMARY : Down
TREND : Down trend
MA10 : Neutral
MA20 : Neutral
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

The USDJPY fell and formed a new low at 81.82 (S1). Following that the price rise and closed just below of today’s resistance level. A break above 82.43 level would suggest target at 82.98 (R2) and further rise will then be limited at 83.31 (R3). On the other hand a break below 81.82 would suggest target at 81.05 (S3). A stop loss in both cases should be placed around 50 pips away from support or resistance level.

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