Daily Forex Analysis from FXCC Nov 14 2012
Posted: Wed Nov 14, 2012 6:06 amDaily Forex Analysis from FXCC Nov 14 2012
Bild story on bundled aid payment for Greece boosts sentiment.
German newspaper Bild Zeitung published an article in which it claims that the Berlin is preparing a 44 billion euro aid payment for Greece, combined from three pending bailout tranches. When asked about the report, German Finance Minister's spokeswoman said that no decision has been taken on the Greek bailout. “Color me skeptical”, writes Mark Chandler, Global Head of Currency Strategy for BBH. “To give Greece such a large sum at once is counter to the underlying strategy of doling out the aid in tranches to provide assurances of compliance. This is tantamount to unilateral disarmament by the creditors. Second, three euro area members require parliamentary approval, Germany, Finland and the Netherlands. It it unlikely to receive support.” The Bild report boosted sentiment and the Euro rebounded off a two-month low against the greenback.
The Greek Public Debt Management Agency held a bond auction on Tuesday in order to roll over 5 billion euros of debt maturing on November 16. It sold 4.062 billion euros worth of 1-month and 3-month T-bills and the total amount should reach 5 billion if all non-competitive bids are included. 1-month T-bills were sold at an average yield of 3.95%, while 3-month T-bills yielded 4.2%, compared to 4.24% seen in October. The auction was given the green light by the ECB which had to raise the ceiling on the amount of T-bills so that Athens would be able to continue refinancing short-term debt -FXstreet.com
https://support.fxcc.com/email/technical/14112012/
UPCOMING EVENTS :
2012-11-14 09:30 GMT : United Kingdom. ILO Unemployment Rate
2012-11-14 10:30 GMT : United Kingdom. BoE's Governor King Speech
2012-11-14 13:30 GMT : United States. Retail Sales
2012-11-14 19:00 GMT : United States. FOMC Minutes
FOREX NEWS :
2012-11-14 04:03 GMT : Outlook bullish on EUR/USD – Goldman Sachs
2012-11-14 03:19 GMT : AUD/NZD limited below 1.2800, 61.8% Fibo
2012-11-14 02:31 GMT : GBP/JPY back above 126.00; Regional bourses support
2012-11-14 01:08 GMT : AUD/JPY capped below 1H 200 SMA
EURUSD :
HIGH 1.27287 LOW 1.27001 BID 1.27216 ASK 1.27219 CHANGE 0.14% TIME 08 : 03 : 01
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Pair has settled negative bias on the hourly timeframe but recently moved in sideways mode. Above the fresh high at 1.2730 (R1) is possible retracement development. Violation here might expose next targets at 1.2746 (R2) and 1.2763 (R3). Downwards scenario: Loss of next support at 1.2703 (S1) might drive market price towards to the next targets at 1.2684 (S2) and 1.2666 (S3).
Resistance Levels: 1.2730, 1.2746, 1.2763
Support Levels: 1.2703, 1.2684, 1.2666
-------------------------
GBPUSD :
HIGH 1.58923 LOW 1.58663 BID 1.58917 ASK 1.58920 CHANGE 0.13% TIME 08 : 03 : 02
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD trades in positive tone on the short term perspective. Successful penetration above the resistance at 1.5900 (R1) might provide sufficient space for the price increase towards to our targets at 1.5915 (R2) and 1.5931 (R3). Downwards scenario: Medium term bias remains negative on the hourly chart. If the pair extend its bearish pressure below the next support level at 1.5866 (S1), we suggest next targets at 1.5849 (S2) and 1.5830 (S3).
Resistance Levels: 1.5900, 1.5915, 1.5931
Support Levels: 1.5866, 1.5849, 1.5830
------------------------------
USDJPY :
HIGH 79.573 LOW 79.385 BID 79.565 ASK 79.566 CHANGE 0.23% TIME 08 : 03 : 02
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY gained momentum on the positive side today and determined positive bias for the remaining day. We expect some consolidation ahead, though If the market manages to climb above the resistance level at 79.83 (R1) we suggest next targets at 79.92 (R2) and 80.02 (R3) in potential.Downwards scenario: Yesterday high is acting now as key support level at 79.64 (S1), clearance here is required to attack lower targets at 79.53 (S2) and 79.43 (S3).
Resistance Levels: 79.83, 79.92, 80.02
Support Levels: 79.64, 79.53, 79.43
Source: FX Central Clearing Ltd,( forex trading news | forex trading secrets | forex trading tools | FXCC )
Bild story on bundled aid payment for Greece boosts sentiment.
German newspaper Bild Zeitung published an article in which it claims that the Berlin is preparing a 44 billion euro aid payment for Greece, combined from three pending bailout tranches. When asked about the report, German Finance Minister's spokeswoman said that no decision has been taken on the Greek bailout. “Color me skeptical”, writes Mark Chandler, Global Head of Currency Strategy for BBH. “To give Greece such a large sum at once is counter to the underlying strategy of doling out the aid in tranches to provide assurances of compliance. This is tantamount to unilateral disarmament by the creditors. Second, three euro area members require parliamentary approval, Germany, Finland and the Netherlands. It it unlikely to receive support.” The Bild report boosted sentiment and the Euro rebounded off a two-month low against the greenback.
The Greek Public Debt Management Agency held a bond auction on Tuesday in order to roll over 5 billion euros of debt maturing on November 16. It sold 4.062 billion euros worth of 1-month and 3-month T-bills and the total amount should reach 5 billion if all non-competitive bids are included. 1-month T-bills were sold at an average yield of 3.95%, while 3-month T-bills yielded 4.2%, compared to 4.24% seen in October. The auction was given the green light by the ECB which had to raise the ceiling on the amount of T-bills so that Athens would be able to continue refinancing short-term debt -FXstreet.com
https://support.fxcc.com/email/technical/14112012/
UPCOMING EVENTS :
2012-11-14 09:30 GMT : United Kingdom. ILO Unemployment Rate
2012-11-14 10:30 GMT : United Kingdom. BoE's Governor King Speech
2012-11-14 13:30 GMT : United States. Retail Sales
2012-11-14 19:00 GMT : United States. FOMC Minutes
FOREX NEWS :
2012-11-14 04:03 GMT : Outlook bullish on EUR/USD – Goldman Sachs
2012-11-14 03:19 GMT : AUD/NZD limited below 1.2800, 61.8% Fibo
2012-11-14 02:31 GMT : GBP/JPY back above 126.00; Regional bourses support
2012-11-14 01:08 GMT : AUD/JPY capped below 1H 200 SMA
EURUSD :
HIGH 1.27287 LOW 1.27001 BID 1.27216 ASK 1.27219 CHANGE 0.14% TIME 08 : 03 : 01
OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Pair has settled negative bias on the hourly timeframe but recently moved in sideways mode. Above the fresh high at 1.2730 (R1) is possible retracement development. Violation here might expose next targets at 1.2746 (R2) and 1.2763 (R3). Downwards scenario: Loss of next support at 1.2703 (S1) might drive market price towards to the next targets at 1.2684 (S2) and 1.2666 (S3).
Resistance Levels: 1.2730, 1.2746, 1.2763
Support Levels: 1.2703, 1.2684, 1.2666
-------------------------
GBPUSD :
HIGH 1.58923 LOW 1.58663 BID 1.58917 ASK 1.58920 CHANGE 0.13% TIME 08 : 03 : 02
OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: GBPUSD trades in positive tone on the short term perspective. Successful penetration above the resistance at 1.5900 (R1) might provide sufficient space for the price increase towards to our targets at 1.5915 (R2) and 1.5931 (R3). Downwards scenario: Medium term bias remains negative on the hourly chart. If the pair extend its bearish pressure below the next support level at 1.5866 (S1), we suggest next targets at 1.5849 (S2) and 1.5830 (S3).
Resistance Levels: 1.5900, 1.5915, 1.5931
Support Levels: 1.5866, 1.5849, 1.5830
------------------------------
USDJPY :
HIGH 79.573 LOW 79.385 BID 79.565 ASK 79.566 CHANGE 0.23% TIME 08 : 03 : 02
OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium
Upwards scenario: USDJPY gained momentum on the positive side today and determined positive bias for the remaining day. We expect some consolidation ahead, though If the market manages to climb above the resistance level at 79.83 (R1) we suggest next targets at 79.92 (R2) and 80.02 (R3) in potential.Downwards scenario: Yesterday high is acting now as key support level at 79.64 (S1), clearance here is required to attack lower targets at 79.53 (S2) and 79.43 (S3).
Resistance Levels: 79.83, 79.92, 80.02
Support Levels: 79.64, 79.53, 79.43
Source: FX Central Clearing Ltd,( forex trading news | forex trading secrets | forex trading tools | FXCC )