Market Overview by FXCC Aug 02 2012
Posted: Thu Aug 02, 2012 5:43 amMarket Overview by FXCC Aug 02 2012
EUR/USD around 1.2250, the ECB has come
Despite London session ahead will bring almost no macro data EUR related but EU PPI at 09:00 GMT, today will be a busy day mainly focused on Spain with Italian PM Monti traveling to Madrid to meet Rajoy according to newspaper elpais.com, Spanish unemployment change at 07:00 GMT, and most importantly, Spanish Tesoro selling up to € 3B in different maturities from 2 to 10 years, with last 10 year bond yielding 6.43% in last auction, and closing yesterday at 6.72% after 4 day fall from euro era highs at 7.74% one week ago.
But that will only be an introduction to main risk event of the week for Euro, with ECB meeting delivering the interest rate statement at 11:45 GMT followed 45 minutes later by very much awaited Draghi's speech, which will confirm or deny the expectations created past week with his words.
Read More
https://support.fxcc.com/email/technical/02082012/
UPCOMING EVENTS :
2012-08-01 09:00 GMT | EMU - Producer Price Index (YoY) (Jun)
2012-08-01 11:00 GMT | UK - BoE Interest Rate Decision
2012-08-01 11:45 GMT | EMU - ECB Interest Rate Decision
2012-08-01 14:00 GMT | US - Factory Orders (MoM) (Jun)
FOREX NEWS :
2012-08-02 04:28 GMT | GBP/USD steady below 1.5550; ECB, BoE eyed
2012-08-02 03:01 GMT | ECB may be building a bridge to nowhere - Megan Greene
2012-08-02 02:19 GMT | USD/JPY bulls trek above 78.50
2012-08-02 01:41 GMT | AUD/USD attacking 1.0480 resistance post Aus sales
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EURUSD : 1.22534 / 1.22535
DAILY WEEKLY MONTHLY
1.2390 | 1.2332 | 1.2277
1.2217 | 1.2158 | 1.2100
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
EURUSD made an attempt to go higher yesterday but fail to establish positive bias and dropped below suggested support level at 1.2249. Today we expect further depreciation as main scenario however clearance of next resistance at 1.2277 (R1) will open way for next target attack at 1.2332 (R2). If we see loss of next support level at 1.2217 (S1), next expected targets would be at 1.2158 (S2) and 1.2100 (S3). Close attention to the important news releases today. EMU announce ECB Interest Rate Decision at 11:45 GMT.
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GBPUSD : 1.55558 / 1.55567
DAILY WEEKLY MONTHLY
1.5732 | 1.5654 | 1.5583
1.5522 | 1.5458 | 1.5391
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday instrument broke our suggested support level at 1.5625 and successfully achieved next target at 1.5552. From the technical side intraday sentiment is negative as both moving averages are pointing down. Fall below support level at 1.5522 (S1) would suggest next targets at 1.5458 (S2) and 1.5391 (S3). On the other side, brake of next resistance at 1.5583 (R1) might lead to the development of correction with next intraday target at 1.5654 (R2). Appreciation above this level enable next target at 1.5732 (R3) and suggest us about the trend reversal. Today in focus Bank of England Interest rate decision and asset Purchase Facility release at 11:00 GMT as major market drivers.
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USDJPY : 78.466 / 78.471
DAILY WEEKLY MONTHLY
78.82 | 78.68 | 78.54
78.31 | 78.12 | 77.92
SUMMARY : Up
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Market gained momentum yesterday and met our final target at 78.49. Volatility increase might be a signal of uptrend development and we expect new highs forming today. Next resistance holds at 78.54 (R1). Rise above this level will provide space for further appreciation towards to next expected target at 78.68 (R2), strong technical level. Brake here is required to enable higher target at 78.82 (R3). On the other hand, decrease of the price below next support level at 78.31 (S1) would suggest target at 78.12 (S2) and any further loss then will be limited by final support at 77.92 (S3).
Source: FX Central Clearing Ltd, (http://www.fxcc.com)
EUR/USD around 1.2250, the ECB has come
Despite London session ahead will bring almost no macro data EUR related but EU PPI at 09:00 GMT, today will be a busy day mainly focused on Spain with Italian PM Monti traveling to Madrid to meet Rajoy according to newspaper elpais.com, Spanish unemployment change at 07:00 GMT, and most importantly, Spanish Tesoro selling up to € 3B in different maturities from 2 to 10 years, with last 10 year bond yielding 6.43% in last auction, and closing yesterday at 6.72% after 4 day fall from euro era highs at 7.74% one week ago.
But that will only be an introduction to main risk event of the week for Euro, with ECB meeting delivering the interest rate statement at 11:45 GMT followed 45 minutes later by very much awaited Draghi's speech, which will confirm or deny the expectations created past week with his words.
Read More
https://support.fxcc.com/email/technical/02082012/
UPCOMING EVENTS :
2012-08-01 09:00 GMT | EMU - Producer Price Index (YoY) (Jun)
2012-08-01 11:00 GMT | UK - BoE Interest Rate Decision
2012-08-01 11:45 GMT | EMU - ECB Interest Rate Decision
2012-08-01 14:00 GMT | US - Factory Orders (MoM) (Jun)
FOREX NEWS :
2012-08-02 04:28 GMT | GBP/USD steady below 1.5550; ECB, BoE eyed
2012-08-02 03:01 GMT | ECB may be building a bridge to nowhere - Megan Greene
2012-08-02 02:19 GMT | USD/JPY bulls trek above 78.50
2012-08-02 01:41 GMT | AUD/USD attacking 1.0480 resistance post Aus sales
----------------
EURUSD : 1.22534 / 1.22535
DAILY WEEKLY MONTHLY
1.2390 | 1.2332 | 1.2277
1.2217 | 1.2158 | 1.2100
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold
MARKET ANALYSIS - Intraday Analysis
EURUSD made an attempt to go higher yesterday but fail to establish positive bias and dropped below suggested support level at 1.2249. Today we expect further depreciation as main scenario however clearance of next resistance at 1.2277 (R1) will open way for next target attack at 1.2332 (R2). If we see loss of next support level at 1.2217 (S1), next expected targets would be at 1.2158 (S2) and 1.2100 (S3). Close attention to the important news releases today. EMU announce ECB Interest Rate Decision at 11:45 GMT.
--------------
GBPUSD : 1.55558 / 1.55567
DAILY WEEKLY MONTHLY
1.5732 | 1.5654 | 1.5583
1.5522 | 1.5458 | 1.5391
SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Yesterday instrument broke our suggested support level at 1.5625 and successfully achieved next target at 1.5552. From the technical side intraday sentiment is negative as both moving averages are pointing down. Fall below support level at 1.5522 (S1) would suggest next targets at 1.5458 (S2) and 1.5391 (S3). On the other side, brake of next resistance at 1.5583 (R1) might lead to the development of correction with next intraday target at 1.5654 (R2). Appreciation above this level enable next target at 1.5732 (R3) and suggest us about the trend reversal. Today in focus Bank of England Interest rate decision and asset Purchase Facility release at 11:00 GMT as major market drivers.
---------------
USDJPY : 78.466 / 78.471
DAILY WEEKLY MONTHLY
78.82 | 78.68 | 78.54
78.31 | 78.12 | 77.92
SUMMARY : Up
TREND : Upward penetration
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
Market gained momentum yesterday and met our final target at 78.49. Volatility increase might be a signal of uptrend development and we expect new highs forming today. Next resistance holds at 78.54 (R1). Rise above this level will provide space for further appreciation towards to next expected target at 78.68 (R2), strong technical level. Brake here is required to enable higher target at 78.82 (R3). On the other hand, decrease of the price below next support level at 78.31 (S1) would suggest target at 78.12 (S2) and any further loss then will be limited by final support at 77.92 (S3).
Source: FX Central Clearing Ltd, (http://www.fxcc.com)