Fed’s Jackson Hole conference key event this week - BNZ
The Fed’s Jackson Hole conference, due on Friday, is the event of the week. According to Mike Jones, currency strategist at Bank of New Zealand, "some of the market impact of Bernanke’s speech has been nullified by last week’s dovish Fed minutes." The analyst adds: "The speech is expected to be used to map out the policy (easing) options facing the Fed. If this has the effect of hardening Fed easing expectations then the USD should continue to suffer."
London session ahead will be a quiet one in regards of London closing for holidays and lack of macro economic data EUR related but German Ifo business climate at 08:00 GMT as the most important, preceded by German import price index at 06:00 GMT, and Chicago Fed Evans speaking at 10:00 GMT. In the euro zone sovereign debt auctions front, France and Germany will sell short term treasury bills.
Read More
https://support.fxcc.com/email/technical/27082012/
UPCOMING EVENTS :
2012-08-27 06:00 GMT | Japan. Machine Tool Orders (YoY) (Jul)
2012-08-27 08:00 GMT | Germany. IFO - Business Climate (Aug)
2012-08-27 14:30 GMT | United States. Dallas Fed Manufacturing Business Index (Aug)
2012-08-27 16:15 GMT | United States. FOMC Member Pianalto Speaks
FOREX NEWS :
2012-08-27 04:57 GMT | GBP/USD quiet around 1.58, outlook bearish – V.Bednarik
2012-08-27 04:21 GMT | EUR/NZD set to push above 55-day EMA?
2012-08-27 03:20 GMT | EUR reaches smallest net short position since May - Nomura
2012-08-27 01:41 GMT | AUD/USD falls sharply; Only China fix catalyst?
EURUSD : 1.25073 / 1.25078
DAILY WEEKLY MONTHLY
1.2635 | 1.2594 | 1.2547
1.2482 | 1.2446 | 1.2406
SUMMARY : Up trend
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
On Friday EURUSD formed correction and reached our target at 1.2490. Today we expect quiet day ahead however technically important targets might be achieved lat. Upside direction is limited by the next resistance level at 1.2547 (R1), brake here would enable higher targets at important technical level 1.2594 (R2). Momentum on the upside direction might expose last target at 1.2635 (R3) in potential. Loss of the next support level at 1.2482 (S1) would put in focus next target at 1.2446 (S2) and any further fall would then be limited by last support at 1.2406 (S3).
--------------
GBPUSD : 1.58074 / 1.58085
DAILY WEEKLY MONTHLY
1.5911 | 1.5873 | 1.5838
1.5796 | 1.5766 | 1.5733
SUMMARY : Up trend
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD did not show the essential momentum on Friday and remained to be traded is sideways mode however our target at 1.5805 was achieved. Fresh low at 1.5796 (S1) is the next support level. Market penetration below it might encourage execution of the short trades and drive market price towards to the next target at 1.5766 (S2). Potential is seen to reach last support level at 1.5733 (S3) in perspective. For the long positions it is preferably to wait the 1.5838 (R1) brake out. We suggest next targets at 1.5873 (R2) and 1.5911 (R3) in potential.
-----------------
USDJPY : 78.756 / 78.762
DAILY WEEKLY MONTHLY
79.37 | 79.14 | 78.93
78.62 | 78.45 | 78.28
SUMMARY : Sideway
TREND : Down trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
USDJPY broke our resistance level at 78.73 today and now moving towards to our next target at 78.93 (R1). Brake here would enable higher target at 79.14 (R2) and any further rise would then be limited by 79.37 (R3). The downtrend resuming is possible from these levels. On the other hand if price manage to stay below the next resistance at 78.93 (R1), we expect the price to retest our support at 78.62 (S1), brake below that level would suggest next targets at 78.45 (S2) and 78.28 (S3) where can be found the final support of the day.
Source: FX Central Clearing Ltd, ( Learn Forex Trading | ECN Forex Online Trading | Forex Trading Tips | FXCC )