German Fin Min urges Portugal to find new austerity measures
German Finance Minister Wolfgang Schaeuble said in a radio interview on Monday that Portugal should come up with a new set of austerity measures, after the country’s high court rejected parts of the plan put forward by the Portuguese government, deeming them illegal. “Portugal has made lots of progress in the last year to gain access to financial markets,” the German finance minister said. “But after this (constitutional court) decision it will have to find new measures.” Portuguese Prime Minister Pedro Passos Coelho has already announced plans of carrying out cuts in health and education spending, in order to meet the targets set by the Troika and avoid asking for a second rescue package. He assured however that no new tax hikes would be introduced in 2013.
https://support.fxcc.com/email/technical/09042013/
FOREX ECONOMIC CALENDAR :
2013-04-09 06:00 GMT | Germany. Trade Balance s.a. (Feb)
2013-04-09 08:30 GMT | UK. Manufacturing Production (YoY) (Feb)
2013-04-09 12:15 GMT | Canada. Housing Starts s.a (YoY) (Mar)
2013-04-09 14:00 GMT | UK. NIESR GDP Estimate (3M) (Mar)
FOREX NEWS :
2013-04-09 04:43 GMT | EUR/USD hits 3 ½ week high; fresh upside potential
2013-04-09 03:11 GMT | NZD/USD testing long term resistance below 0.85
2013-04-09 02:14 GMT | USD/CAD finds 1.0160 double bottom; upside risks - TDS
2013-04-09 01:48 GMT | AUD/USD higher on China CPI
-------------------------
EURUSD :
HIGH 1.30679 LOW 1.3009 BID 1.30454 ASK 1.30461 CHANGE 0.28% TIME 08:39:23
OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Price stabilized near it local high’s however we see potential to overcome our next resistance level at 1.3069 (R1). Clearance here might pull the pair towards to eventual targets at 1.3095 (R2) and 1.3120 (R3). Downwards scenario: On the other side, price depreciation below the support barrier at 1.3037 (S1) might provide sufficient space for the recovery action. In such case e we would suggest next intraday targets at 1.3012 (R2) and then 1.2987 (R3)
Resistance Levels: 1.3069, 1.3095, 1.3120
Support Levels: 1.3037, 1.3012, 1.2987
------------------------
GBPUSD :
HIGH 1.52781 LOW 1.52508 BID 1.52717 ASK 1.52722 CHANGE 0.12% TIME 08:39:24
OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Our technical outlook on the medium-term perspective remains positive. Further market appreciation is possible above the key resistance at 1.5293 (R1). Next targets could be found at 1.5318 (R2) and 1.5341 (R3). Downwards scenario: On the other hand, loss of our support level at 1.5237 (S1) would open road for a market decline towards to our next target at 1.5214 (S2). Any further price weakening would then be limited to final support for today at 1.5190 (S3).
Resistance Levels: 1.5293, 1.5318, 1.5341
Support Levels: 1.5237, 1.5214, 1.5190
---------------------
USDJPY :
HIGH 99.663 LOW 99.091 BID 99.207 ASK 99.213 CHANGE -0.15% TIME 08:39:24
OUTLOOK SUMMARY : Up
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: Upwards penetration is limited tow to the next resistance level at 99.65 (R1). Clearance here might open a route towards to our initial target at 100.12 (R2) and then further price appreciation would be targeting resistance at 100.57 (R3). Downwards scenario: On the other hand, our bearish expectations remain intact below the key support level at 98.86 (S1). Price penetration below it would allow further declines towards to our initial targets at 98.37 (S2) and 97.89 (S3).
Resistance Levels: 99.65, 100.12, 100.57
Support Levels: 98.86, 98.37, 97.89
Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )