Daily market technical Analysis And outlook By ACFX.com

[kartik]

Daily Market Outlook April 3rd, 2012 By acfx.com

Currencies

• EUR/USD The dollar declined against most of its major peers as signs of recovery in the U.S. economy sapped demand for the relative safety of the world’s reserve currency.

o The greenback slid 0.2 percent to $1.3345 per euro.

• NZD/USD The greenback slid versus the New Zealand dollar before a government report forecast to show U.S. factory orders rebounded in February, which would follow figures yesterday that signaled an acceleration in manufacturing. Australia’s currency gained before the nation’s central bank decides on policy today in Melbourne.

o The U.S. currency lost 0.3 percent to 82.58 cents per New Zealand dollar after dropping 0.6 percent yesterday.

• USD/JPY The yen strengthened amid speculation traders pared bets against the currency.

o The dollar lost 0.2 percent to 81.92 yen as of 12:37 p.m. in Tokyo, and earlier touched 81.56, the weakest since March 9.

http://blog.acfx.com/technical-analysis ... lysis-120/

[kartik]

EUR/USD
Trend
The Swing strategy. Short.
The Alligator strategy. Short.
Warning
News based large weekend gap down. A potential positive divergence is forming.
Overview
Swing Strategy:The The 1st May Lower higher has now been confirmed by this yesterday’s gap down and breach of the 16th April low. A gap fill and further downside momentum over the next few days would not be unexpected.
Alligator Strategy:
The Alligator indicator has turned from a neutral to a short bias. Price extended from the deferred MA’s.
Possible range
The daily range based upon the most recent Average True Range readings is 91 pips. This implies that EURUSD could potentially trade between 1.2959 and 1.3141.
Long scenario
 Conservative long above 1.3283 being the last daily fractal high.
 Aggressive long into the deferred MA’s.
Short scenario
 Conservative short beneath 1.3157 is in play. Further shorts neutral.
 Aggressive short pullbacks into the deferred MA’s.

http://blog.acfx.com/technical-analysis ... lysis-140/

[kartik]

Currencies

• EUR/USD Europe is already moving at different speeds, Merkel said, citing the Schengen agreement that abolished border controls between some European countries and the monetary union that excludes the U.K. and Denmark.

o The euro has declined 3.6 percent over the past six months, making it the worst performer among 10 developed-nation currencies, according to Bloomberg Correlation-Weighted Indexes. The dollar gained 3.4 percent and the yen appreciated 0.8 percent.

• GBP/USD The pound strengthened to a one-week high against the dollar and gilts fell after the Bank of England kept its stimulus program unchanged and China cut borrowing costs to boost growth

o Sterling rose versus all except one of its 16 major counterparts after a report showed U.K. services grew more in May than analysts forecast. Policy makers held the bond-purchase program at 325 billion pounds ($505 billion) and their benchmark rate at a record-low 0.5 percent.

• USD/JPY The yen gained before data forecast to show German exports fell in April amid concern the European debt crisis is hurting the region’s economy, boosting demand for the currency as a haven.

o USD/JPY gained 0.5 percent to 99.52 per euro as of 11:44 a.m. in Tokyo from the close yesterday in New York. The Japanese currency added 0.2 percent to 79.48 per dollar, set for a 1.8 percent drop this week. The 17-nation euro declined 0.3 percent to $1.2521.

Commodities

• Oil fell a second day in New York, heading for the longest weekly losing streak in more than 13 years, on speculation the economies of the U.S. and China, the world’s biggest crude consumers, will slow and curb fuel demand.

o Oil for July delivery decreased as much as $2.11 to $82.71 a barrel in electronic trading on the New York Mercantile Exchange, and was at $82.86 at 12:20 p.m. Sydney time. The contract yesterday slipped 0.2 percent to $84.82, the lowest close since June 5. Prices are down 0.4 percent since June 1 and are poised for a sixth weekly decline, the longest losing streak since December 1998. Oil has fallen 16 percent this year.

• Gold traded little changed on Friday following a sharp sell-off in the previous session after U.S. central bank chief gave no hint on imminent stimulus, disappointing investors and dampening gold's appeal as a hedge against monetary easing.

o Gold was nearly flat at $1,588.06 an ounce by 0023 GMT, on course for a weekly decline of more than 2 percent. It dropped nearly 2 percent in the previous session.

Equities

• Asian stocks fell, paring the first weekly advance in six weeks, amid concern that central banks are struggling to reinforce global demand amid Europe’s worsening debt crisis.

o Japan’s Nikkei 225 (NKY) lost 1.6 percent. South Korea’s Kospi Index slid 0.4 percent as the Bank of Korea held off from altering borrowing costs for a 12th straight month. Australia’s S&P/ASX 200 Index retreated 1 percent.

• European stocks rallied, completing their biggest two-day gain since November, after China cut interest rates, adding to speculation that policy makers around the world will take steps to revive growth.

o The DAX climbed 0.8 percent to 6,144.22 at the 5:30 p.m. close in Frankfurt. The gauge gained 2.1 percent yesterday after European Central Bank President Mario Draghi indicated the bank will act if the debt crisis worsens. The DAX has still tumbled 14 percent from its 2012 high on March 16 amid growing concern that Greece will have to leave the euro area.

• U.S stocks rallied, giving benchmark indexes their biggest gains in 2012, on speculation global policy makers will take steps to stimulate economic growth.

o &P 500 Index fell 0.4 percent today. The gauge closed little changed yesterday, paring earlier gains as Bernanke said the central bank will assess the U.S. economy before deciding if more stimulus is needed and after a report that Greece’s upcoming election could be derailed.

[kartik]

June 11, 2012
Currencies
EUR/USD The euro rose against most of its major counterparts after European governments agreed to provide Spain with a bailout loan.
The euro reached $1.2671, the highest since May 23, before trading at $1.2631 as of 1:36 p.m. in Tokyo, 0.9 percent higher than the June 8 close in New York.
EUR/JPY The 17-nation currency climbed to a two-week high after Spain asked for as much as 100 billion euros ($126 billion) to save its banking system, making it the fourth member in the currency bloc to seek a rescue.
The euro jumped 1.1 percent to 100.59 yen.
USD/JPY The dollar and yen fell on decreased demand for refuge assets as Asian shares rallied.
The dollar added 0.2 percent to 79.64 yen.
http://blog.acfx.com/

[kartik]

EUR/USD DAILY PIVOTS POINTS

R3 1.26711
R2 1.25790
R1 1.25254
Pivot Point 1.24333
S1 1.23797
S2 1.22876
S3 1.22340


GBP/USD Pivots

R3 1.59315
R2 1.58675
R1 1.58254
Pivot Point 1.57614
S1 1.57193
S2 1.56553
S3 1.56132

USD/JPY Pivots
R3 79.760
R2 79.639
R1 79.456
Pivot Point 79.335
S1 79.152
S2 79.031
S3 78.848

USD/CHF Pivots
R3 0.98155
R2 0.97741
R1 0.97009
Pivot Point 0.96595
S1 0.95863
S2 0.95449
S3 0.94717