http://www.fxfatcat.com/forex-forum/ Forex Forum - FX Fatcat is an active foreign exchange (ForEx) trading forum with contributions from experienced and novice traders alike. en Sun, 19 May 2013 14:12:12 GMT vBulletin 600 http://www.fxfatcat.com/forex-forum/images/misc/rss.png http://www.fxfatcat.com/forex-forum/ http://www.fxfatcat.com/forex-forum/showthread.php?2538-Forex-Technical-amp-Market-Analysis-FXCC-May-17-2013&goto=newpost Fri, 17 May 2013 10:01:01 GMT Forex Technical & Market Analysis FXCC May 17 2013

Talking Down the EUR

The euro came under selling pressure today against the U.S. dollar after European Industry Commissioner Tajani tried to talk down the currency. As the head of an agency whose goal is to protect the export sector, Tajani complained that the euro is too strong and called on the central bank to manage the currency in a way that would help exports. Considering that the euro has been in a downtrend since the beginning of the month and has lost over 5% since the beginning of February, some investors may be surprised by the timing of Tajani's comments. However it is clear that underperformance of the Eurozone economy, which is currently in recession is a big motivation for industry officials, politicians and central bankers to make overtures to weaken the euro now versus February. In addition, with the currency in a downtrend, comments such as these will have a greater impact on the euro. As the ECB considers whether to introduce negative deposit rates or purchases of asset backed securities, a weaker currency will provide additional support to the region's economy.
https://support.fxcc.com/email/technical/17052013/


FOREX ECONOMIC CALENDAR :
2013-05-17 09:00 GMT | EMU. Construction Output w.d.a (YoY) (Mar)
2013-05-17 12:30 GMT | Canada. Consumer Price Index (YoY) (Apr)
2013-05-17 13:55 GMT | USA. Reuters/Michigan Consumer Sentiment Index (May)
2013-05-17 15:00 GMT | USA. CB Leading Indicator (MoM) (Apr)

FOREX NEWS :
2013-05-17 04:58 GMT | Nomura's survey on USDJPY suggest higher quotes
2013-05-17 04:26 GMT | Technical picture continues to become more bearish for EUR/USD
2013-05-17 03:57 GMT | AUD/USD, how far can it go? 0.9750/10 next demand
2013-05-17 02:40 GMT | USD/CHF inching toward hourly resistance trend line at 0.9675


EURUSD :
HIGH 1.28897 LOW 1.2855 BID 1.28676 ASK 1.28680 CHANGE -0.1% TIME 08 : 26:30



OUTLOOK SUMMARY : Down
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: 20 SMA acts as next resistance level at 1.2886 (R1). Penetration above that mark might trigger upside pressure and expose our next resistive mean at 1.2911 (R2) en route towards to final target for today at 1.2937 (R3). Downwards scenario: On the other hand, successful retest of our next support level at 1.2843 (S1) Market would create a signal of bearish sentiment and enable our interim target at 1.2819 (S2). Final support for today locates at 1.2794 (S3).

Resistance Levels: 1.2886, 1.2911, 1.2937
Support Levels: 1.2843, 1.2819, 1.2794

-----------------------
GBPUSD :
HIGH 1.52822 LOW 1.52366 BID 1.52521 ASK 1.52533 CHANGE -0.1% TIME 08 : 26:30



OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium

Upwards scenario: A bearish tone dominates during the Asian session however further buying interest might arise above the resistance at 1.5281 (R1). Clearance here would suggest next intraday target at 1.5315 (R2) and if the price holds its momentum we can expect an increase towards to 1.5351 (R3). Downwards scenario: If the price failed to establish further positive bias today, likely we will see retest of our key support level at 1.5228 (S1). Break here is required to enable initial lower targets at 1.5194 (S2) and 1.5163 (S3) in potential.

Resistance Levels: 1.5281, 1.5315, 1.5351
Support Levels: 1.5228, 1.5194, 1.5163

--------------------------
USDJPY :
HIGH 102.371 LOW 102.08 BID 102.291 ASK 102.295 CHANGE 0.04% TIME 08 : 26:31



OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium

Upwards scenario: Neutral channel formation remains in play on the hourly chart. Our next resistance level is placed at 102.47 (R1). Strengthening above it would point to resistive structure at 102.81 (R2) onto 103.14 (R3). Downwards scenario: Possible downtrend evolvement might occur below the immediate support level at 102.05 (S1). Clearance here is required to enable our next targets at 101.70 (S2) and 101.36 (S3) in potential.

Resistance Levels: 102.47, 102.81, 103.14
Support Levels: 102.05, 101.70, 101.36

Source: FX Central Clearing Ltd,( ECN Broker List | Forex Trading Account | Currency Converter | FXCC )

]]> Daily Analysis alayoua http://www.fxfatcat.com/forex-forum/showthread.php?2538-Forex-Technical-amp-Market-Analysis-FXCC-May-17-2013 http://www.fxfatcat.com/forex-forum/showthread.php?2537-Forex-Technical-amp-Market-Analysis-FXCC-May-16-2013&goto=newpost Thu, 16 May 2013 10:11:21 GMT Forex Technical & Market Analysis FXCC May 16 2013

BoE sees a modest and sustained recovery over the next three years

The quarterly Inflation Report released by the Bank of England on Wednesday suggests that UK inflation should rise above 3% in June and that it will possibly remain above the 2% target for the next two years. As for the GDP, it is “likely to pick up gradually over the next year or so, supported by past asset purchases, an easing in credit conditions aided by the Funding for Lending Scheme, and a continuing improvement in the global environment.”

The BoE MPC expects GDP growth of 0.3% in the first quarter of 2013. In the current quarter they see quarterly GDP expanding by 0.5%, while year-on-year GDP is projected to grow by 2.2% (compared with the previous forecast of 2%). Nevertheless, the MPC recognizes that the recovery is still “weak and uneven.” The report states that in the light of the growth and inflation forecasts more stimulus might be required. No rate hike should be carried out before 2016 however. Following the release of the report, BoE Governor Mervyn King presented it at a press conference. He pointed out that there are many obstacles on UK's road to recovery, the most important being the Eurozone crisis and rising unemployment. He stressed that UK policymakers should continue their efforts to boost the recovery as “this is no time to be complacent.” http://blog.fxcc.com/forex-technical...s-may-16-2013/


FOREX ECONOMIC CALENDAR :
2013-05-15 09:00 GMT | EMU. Consumer Price Index
2013-05-15 12:30 GMT | USA. Consumer Price Index
2013-05-15 14:00 GMT | USA. Philadelphia Fed Manufacturing Survey
2013-05-15 19:05 GMT | USA. FOMC Member Williams speech


FOREX NEWS :
2013-05-15 19:24 GMT | EUR/USD seen at 1.2600 in 3 months – UBS
2013-05-15 18:55 GMT | GBP/JPY is unable to break above 156.00
2013-05-15 18:41 GMT | USD/CHF retests daily lows
2013-05-15 18:19 GMT | AUD/USD's recovery capped at 0.9920, back to 0.9870

--------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).

Resistance Levels: 1.2962, 1.2980, 1.2996
Support Levels: 1.2939, 1.2921, 1.2903

---------------------
Forex Technical Analysis GBPUSD :



Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).

Resistance Levels: 1.6021, 1.6031, 1.6042
Support Levels: 1.6005, 1.5994, 1.5983

--------------------------
Forex Technical Analysis USDJPY :



Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).

Resistance Levels: 82.22, 82.30, 82.39
Support Levels: 82.00, 81.91, 81.82

Source: FX Central Clearing Ltd,( ECN Broker Account | Currency Converter | Forex Blog | FXCC )

]]> Daily Analysis alayoua http://www.fxfatcat.com/forex-forum/showthread.php?2537-Forex-Technical-amp-Market-Analysis-FXCC-May-16-2013 http://www.fxfatcat.com/forex-forum/showthread.php?2528-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT)&goto=newpost Wed, 15 May 2013 12:10:28 GMT *EUR/USD* The Euro remains under pressure after yesterday’s upside rejection at 1.3025, where a double-top was left, ahead of fresh weakness. The... EUR/USD

The Euro remains under pressure after yesterday’s upside rejection at 1.3025, where a double-top was left, ahead of fresh weakness. The price violated psychological 1.2900 support, on today’s acceleration lower that suggests further descend, as 50% of 1.2744/1.3241 upleg has been broken and near-term studies hold negative tone. Loss of 1.2900 handle to expose next targets at 1.2861, Fib 76.4% and 1.2800, round figure support. However, bears may be interrupted by corrective action on oversold near-term studies, with previous strong supports at 1.2934/53, now offering initial resistance, ahead of 1.3000, below which rallies should be ideally contained. Only lift above 1.3025 would signal a pause in near-term downtrend and allow for stronger counce.

Res: 1.2934, 1.2953, 1.3000, 1.30245
Sup: 1.2886, 1.2861, 1.2840, 1.2800







GBP/USD

Near-term bears are fully in play, as the price extended descend from 1.5590 double-top, to crack significant support zone and breakpoint at 1.5217/1.5195, 50% of 1.4830/1.5603 / April’s higher platform. The support proves to be strong, as the price bounced, after hitting fresh low at 1.5190. Dominating negative tone on near-term studies does not see much of upside potential for now, with any stronger rally, expected to hold below 1.5300 barrier. Bearish continuation below 1.5190 to confirm top at 1.56 zone and confirm end of 1.4830/1.5603 corrective phase, with 1.5125/00, seen as next downside targets.

Res: 1.5236, 1.5276, 1.5300, 1.5330
Sup: 1.5190, 1.5150, 1.5125, 1.5100







USD/JPY

The pair rallies again, after corrective pullback from 102.14 found footstep at 101.25. Break above initial 102.00/14 barriers, signals bullish resumption of fresh upleg from 98.63 that opens way towards next target at 103.00. Positive near-term studies remain supportive, with initial supports standing at 102.14/00, previous barriers and 101.25, keeping the downside protected.

Res: 102.60, 103.00, 103.50, 104.00
Sup: 102.14, 102.00, 101.25, 101.00






AUD/USD

The pair remains in a steep downtrend that accelerated after losing 1.0114, multi-month range floor. Break below parity level, as psychological support and the next one at 0.9900, keeps the way open towards 0.9579, May 2012 low, with interim supports at 0.9825/00 and 0.9660. However, corrective action may preced fresh weakness, but rallies are for now seen limited, with initial barriers at 0.9914/40 and parity level expected to cap.

Res: 0.9900, 0.9915, 0.9940, 1.0000
Sup: 0.9851, 0.9825, 0.9800, 0.9750




]]> Trading Analysis WindsorBrokers http://www.fxfatcat.com/forex-forum/showthread.php?2528-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT) http://www.fxfatcat.com/forex-forum/showthread.php?2527-Forex-Technical-amp-Market-Analysis-FXCC-May-15-2013&goto=newpost Wed, 15 May 2013 10:00:36 GMT Forex Technical & Market Analysis FXCC May 15 2013

EU gives the go-ahead to Spanish bank restructuring plan

The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaquín Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017.

Joaquín Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017.
http://blog.fxcc.com/forex-technical...s-may-15-2013/

FOREX ECONOMIC CALENDAR :
2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov)
2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech
2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3)
2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct)

FOREX NEWS :
2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo
2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020
2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism
2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 – Scotiabank

--------------------
Forex Technical Analysis EURUSD :



MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).

Resistance Levels: 1.2962, 1.2980, 1.2996

Support Levels: 1.2939, 1.2921, 1.2903

------------------
Forex Technical Analysis GBPUSD :



Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).

Resistance Levels: 1.6021, 1.6031, 1.6042

Support Levels: 1.6005, 1.5994, 1.5983

-------------------
Forex Technical Analysis USDJPY :



Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).

Resistance Levels: 82.22, 82.30, 82.39

Support Levels: 82.00, 81.91, 81.82


Source: FX Central Clearing Ltd,( http://www.fxcc.com )

]]> Daily Analysis alayoua http://www.fxfatcat.com/forex-forum/showthread.php?2527-Forex-Technical-amp-Market-Analysis-FXCC-May-15-2013 http://www.fxfatcat.com/forex-forum/showthread.php?2525-Forex-Technical-amp-Market-Analysis-FXCC-May-14-2013&goto=newpost Tue, 14 May 2013 10:06:13 GMT Forex Technical & Market Analysis FXCC May 14 2013

Schäuble suggests revising EU treaties to make way for banking union

German finance minister Wolfgang Schäuble told the Financial Times today that the banking union could not be completed without a modification of EU treaties. The process of changing them however could last several months or even years. According to Schäuble the existing treaties “do not suffice” to allow for forming a strong central resolution authority. Therefore he warned against making promises which the EU cannot keep, as they would directly affect its credibility.

“The EU does not have coercive means to enforce decisions” Schäuble said. “What it has are responsibilities and powers defined by its treaties.” A change to the treaties would provide a better separation of the ECB's monetary and supervisory functions. The German finance minister is conscious that such changes might take a long time, so he proposed a two-step process consisting of a resolution mechanism based on a network of national authorities as well as a network of resolution funds. Even though Schäuble acknowledges that such a structure would not be trons enough in the long term, he believes that it would allow to buy time and create the base for reaching the final objective: a European banking union, which encompasses the entire interior market. https://support.fxcc.com/email/technical/14052013/

FOREX ECONOMIC CALENDAR :
24h | EMU. EcoFin Meeting
2013-05-14 06:00 GMT | Germany. Consumer Price Index
2013-05-14 09:00 GMT | Germany. ZEW Survey - Economic Sentiment
2013-05-14 09:30 GMT | Australia. Budget Release

FOREX NEWS :
2013-05-14 04:28 GMT | Look to get long EUR/JPY into support levels
2013-05-14 03:58 GMT | EUR/USD still range bound ahead of busy economic calendar week
2013-05-14 03:46 GMT | AUD/USD, outlook is bearish but be patient - RBS
2013-05-14 03:11 GMT | GBP/USD completes ‘bear flag’ pattern on daily chart


EURUSD :
HIGH 1.30261 LOW 1.29693 BID 1.30029 ASK 1.30033 CHANGE 0.21% TIME 08 : 33:12



OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Possibility of uptrend penetration is seen above the next resistance level at 1.3026 (R1). Clearance here might enable bullish pressure and let the price to achieve our intraday targets at 1.3044 (R2) and 1.3062 (R3). Downwards scenario: On the short-term perspective the pair might encounter supportive measures at 1.2992 (S1). Loss here might change intraday technical structure and opens the way for a test of 1.2971 (S2) and 1.2951 (S3) later on today.

Resistance Levels: 1.3026, 1.3044, 1.3062

Support Levels: 1.2992, 1.2971, 1.2951

--------------------
GBPUSD :
HIGH 1.5331 LOW 1.52939 BID 1.53144 ASK 1.53152 CHANGE 0.1% TIME 08 : 33:12



OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium

Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.5334 (R1). Price extension above it is required to validate our next intraday targets at 1.5358 (R2) and 1.5383 (R3) Downwards scenario: On the other hand if the price manages to overcome our next support barrier at 1.5296 (S1), we expect to see further market decline towards to our target at 1.5272 (S2) and then next stop could be found at 1.5249 (S3) mark.

Resistance Levels: 1.5334, 1.5358, 1.5383

Support Levels: 1.5296, 1.5272, 1.5249

-------------------------
USDJPY :
HIGH 101.849 LOW 101.365 BID 101.439 ASK 101.441 CHANGE -0.37% TIME 08 : 33:13



OUTLOOK SUMMARY : Up
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium

Upwards scenario: Medium term bias remains positive however further market rise is limited now to the key resistive barrier at 101.78 (R1), clearance here is required to enable next resistances at 102.22 (R2) and last one at 102.67 (R3). Downwards scenario: Measures of support might be activating when the pair approaches the 101.21 (S1). If it continues to extend its weakening below it we expect next targets to be exposed at 100.77 (S2) and 100.35 (S3) later on.

Resistance Levels: 101.78, 102.22, 102.67

Support Levels: 101.21, 100.77, 100.35

Source: FX Central Clearing Ltd,( ECN Forex Software | The Best Forex Broker | Forex Account | FXCC )

]]> Daily Analysis alayoua http://www.fxfatcat.com/forex-forum/showthread.php?2525-Forex-Technical-amp-Market-Analysis-FXCC-May-14-2013 http://www.fxfatcat.com/forex-forum/showthread.php?2524-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT)&goto=newpost Tue, 14 May 2013 07:57:46 GMT *EUR/USD* The remains in near-term consolidative mode, as 1.2934 proved to be solid support after being retested and holding for now, with brief... EUR/USD

The remains in near-term consolidative mode, as 1.2934 proved to be solid support after being retested and holding for now, with brief attempt above 1.3000 barrier, signaling possible corrective action. Improved hourly studies support the notion, however, sustained break above 1.3000 and regain of minimum 1.3050/60 is required to confirm base and trigger fresh recovery. Otherwise, further weakness would be likely scenario, as 4h indicators hold in the negative territory and price action being capped by descending 20 day EMA.

Res: 1.3024, 1.3033, 1.3050, 1.3064
Sup: 1.2965, 1.2934, 1.2900, 1.2861








GBP/USD

Cable bounces off yesterday’s fresh low at 1.5276, following bearish extension below psychological 1.5300 support. Prevailing negative tone on lower timeframes studies, keeps the downside focused, with corrective rallies seen limited, while below 1.5383/1.5410 barriers. Overall negative tone and break below main bull-trendline, sees increased risk of fresh weakness towards pivotal 1.5200 support zone, 50% of 1.4830/1.5603 / April’s higher platform.

Res: 1.5410, 1.5450, 1.5482, 1.5500
Sup: 1.5300, 1.5276, 1.5217, 1.5195











USD/JPY

Near-term focus is starting to shift towards the downside and open way for corrective pullback, as the pair holds below 102.00 barrier. Loss of initial support at 101.50, increases downside risk, as hourly studies slide into negative territory and yesterday’s Doji candle signaling near-term indecision. However, confirmation would require break below 101.00 handle to open Fibonacci supports at 100.80/38. Strong support and breakpoint at 100.00 is expected to hold dips, as larger picture bulls remain fully in play, with current reversal seen as corrective and preceding fresh rally.

Res: 102.00, 102.14, 102.50, 103.00
Sup: 101.25, 101.00, 100.80, 100.38









AUD/USD

The pair consolidates recent losses that bottomed at 0.9939, after the parity level has been lost and now acting as initial resistance, reinforced by hourly 55 day EMA. Possible stronger correction cannot be ruled out, as 4h conditions are oversold and hourly indicators are heading north. However, signal of basing attempt would require regain of initial 1.0030/45 barriers, while regain of 1.0100, 50% of 1.0253/0.9939 fall, would confirm recovery. Overall picture remains bearish, as the pair commenced fresh bear-phase, following break below multi-month range floor.

Res: 1.0010, 1.0028, 1.0045, 1.0096
Sup: 0.9960, 0.9939, 0.9900, 0.9825




]]> Trading Analysis WindsorBrokers http://www.fxfatcat.com/forex-forum/showthread.php?2524-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT) http://www.fxfatcat.com/forex-forum/showthread.php?2523-Forex-Technical-amp-Market-Analysis-FXCC-May-13-2013&goto=newpost Mon, 13 May 2013 10:12:54 GMT Forex Technical & Market Analysis FXCC May 13 2013

Japan rests re-assured not labeled 'currency manipulator' by G7

Over the weekend, the G7 re-assured the market that Japan is not deliberately weakening the yen in order to create a competitive advantage against other industrialized nations. The group repeated its old same lines about its commitment to avoid artificial currency devaluation for domestic gain purposes, while re-iterating its commitment to avoid volatility in FX rates. According to Mike Paterson, editor at Forexlive: "The general consensus seems to be they accept Japan’s arguments that their dramatic easing on monetary policy is aimed at combating deflation rather than weaker currency advantage." Mr. Paterson thinks the last developments in the G7 meeting "should be the green light for further yen selling when markets re-open given that it takes the uncertainty out of the equation but the announcement was hardly a surprise" he said.

It will be interesting to see just how much weaker it gets in the early stages. Failure to drop too far will suggest that there rightly should be an air of caution after such rapid falls. But as the say goes, all that glitters is not gold, and US, Canada and Germany were all suspiciously more notorious on voicing out a closer monitoring over Japan's next policy actions. As Mr. Paterson rightly points out, "behind the scenes of G7, sure there is not such a united front as they wish to portray." U.S. Treasury Secretary Jack Lew had something to say on yen weakness: “We’ll keep an eye on that”, suggesting that any signs of currency manipulation by Japan will be watch very closely, adding that Japan had “growth issues.” Japan's Finance Minister Mr. Aso confirmed to media reporters that no criticism was noted on Japan’s monetary easing. https://support.fxcc.com/email/technical/13052013/

FOREX ECONOMIC CALENDAR :
24h | EMU. Eurogroup meeting
2013-05-13 12:30 GMT | USA. Retail Sales
2013-05-13 14:00 GMT | USA. Business Inventories (Mar)
2013-05-13 22:45 GMT | New Zeland. Retail Sales

FOREX NEWS :
2013-05-13 04:32 GMT | EUR/USD uncomfortable below 1.30, further definition needed
2013-05-13 04:21 GMT | USD extends gains; Gold takes a hit
2013-05-13 03:34 GMT | Gold selling off sharply below $1430
2013-05-13 03:24 GMT | USD/JPY, expect little pullback in the high 101s - RBS


EURUSD :
HIGH 1.29781 LOW 1.29595 BID 1.29756 ASK 1.29758 CHANGE -0.12% TIME 08 : 04:42



OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT :Bullish
IMPLIED VOLATILITY :Medium

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3011 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets at 1.3036 (R2) and 1.3062 (R3). Downwards scenario: Medium-term bias is clearly negative. Possible progress below the initial support level at 1.2957 (S1) might expose our intraday targets at 1.2934 (S2) and then 1.2909 (S3).

Resistance Levels: 1.3011, 1.3036, 1.3062

Support Levels: 1.2957, 1.2934, 1.2909

------------------------
GBPUSD :
HIGH 1.53578 LOW 1.53357 BID 1.53519 ASK 1.53529 CHANGE -0.07% TIME 08 : 04:42



OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT :Bullish
IMPLIED VOLATILITY :Low

Upwards scenario: GBPUSD is consolidating today however we see potential for further appreciation towards to our targets at 1.5403 (R2) and 1.5429 (R3) if the price manages to overcome key resistance measure at 1.5377 (R1). Downwards scenario: Next support level is seen at 1.5334 (S1), any penetration below it might activate further downside pressure and enable lower target at 1.5310 (S2). Any further market decline would then be limited to final support at 1.5284 (S3).

Resistance Levels: 1.5377, 1.5403, 1.5429

Support Levels: 1.5334, 1.5310, 1.5284

------------------
USDJPY :
HIGH 102.151 LOW 101.74 BID 101.751 ASK 101.752 CHANGE 0.14% TIME 08 : 04:43



OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT :Bearish
IMPLIED VOLATILITY :Low

Upwards scenario: Further uptrend development is possible above the next resistance level at 102.18 (R1). Break here would open route towards to higher target at 102.65 (R2) and any further price advance would then be limited to 103.12 (R3). Downwards scenario: On the other hand, a break of the support at 101.44 (S1) is required to determine negative intraday bias and enable lower target at 101.01 (S2). Clearance of this target would open a path towards to final support for today at 100.57 (S3).

Resistance Levels: 102.18, 102.65, 103.12

Support Levels: 101.44, 101.01, 100.57

Source: FX Central Clearing Ltd,( ECN Broker | Forex Practice Account | Forex Trading Blog | FXCC )

]]> Daily Analysis alayoua http://www.fxfatcat.com/forex-forum/showthread.php?2523-Forex-Technical-amp-Market-Analysis-FXCC-May-13-2013 http://www.fxfatcat.com/forex-forum/showthread.php?2522-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT)&goto=newpost Mon, 13 May 2013 08:38:36 GMT *EUR/USD* The Euro traded in consolidative mode during the Asian session, moving within narrow range and above last Friday’s fresh low at 1.2934... EUR/USD

The Euro traded in consolidative mode during the Asian session, moving within narrow range and above last Friday’s fresh low at 1.2934 that marks Fib 61.8% of 1.2744/1.3241 recovery rally. The downside pressure persists, as the pair dented 200 day MA and near-term range floor at 1.2950, with weekly close above these supports, but below psychological 1.3000 barrier. Corrective rally above the later, may extend towards strong resistance at 1.2950/60 zone, last Friday’s high / 50% of 1.3193/1.2934 downleg, where rally should be capped. However, sustained break here, would sideline immediate bears and allow for stronger recovery. As near-term indicators hold in the negative territory, fresh weakness is still seen as likely scenario, with violation of 1.2950/34 supports, expected to open 1.2915, daily Ichimoku cloud bottom and psychological 1.2900 support.


Res: 1.3000, 1.3033, 1.3050, 1.3064
Sup: 1.2958, 1.2934, 1.2900, 1.2861








GBP/USD

Cable extended weakness off 1.5600 barrier and retraced 38.2% of larger 1.4830/1.5603 rally, on last Friday’s fall to 1.5313. Corrective rally on oversold near-term studies, would be short-lived and likely precede fresh weakness, as long as previous breakpoint at 1.5410 and Friday’s high / 50% of 1.5586/1.5313 fall limits the upside. The notion is supported by negative near-term technicals and double-top at 1.5590, as well as brief break below main bull trendline, drawn off 1.4830, 13 Mar low. However, further weakness below 1.5300 handle, needs to break key near-term support at 1.5200, to confirm top at 1.5600 area and signal end of two-months corrective rally.

Res: 1.5410, 1.5450, 1.5482, 1.5500
Sup: 1.5340, 1.5313, 1.5300, 1.5285





USD/JPY

The pair continue to trend higher, with last Friday’s and overnight probe above psychological 102.00 barrier, suggesting further bullish extension towards 103.00, next target, however, fresh bull-leg above psychological 100.00 barrier, could travel to 105.00. Corrective pullbacks are expected to be limited and any stronger reversal should be contained above 100.00 support. Initial supports lie at 101.00 and 101.80, Fib 38.2% of 98.63/102.14 upleg / 55 day EMA.

Res: 102.00, 102.14, 102.50, 103.00
Sup: 101.00, 100.80, 100.38, 100.00







AUD/USD

Last Friday’s extension of larger downtrend and break below parity level, keeps the bears in play and sees scope for further extension, as the pair lost significant support at 1.0114, multi-month range floor. Dips were so far contained at 0.9960, above which, near-term consolidation is under way. With the upside, for now being capped by psychological 1.0000 barrier and 20 day EMA, recovery action should be limited, despite overextended near-term studies. Any stronger bounce, however, would require clearance of strong 1.0220/50 zone, to ease immediate bear pressure, otherwise, fresh weakness towards 0.9900, would be likely scenario.

Res: 1.0010, 1.0028, 1.0072, 1.0107
Sup: 0.9960, 0.9900, 0.9825, 0.9800




]]> Trading Analysis WindsorBrokers http://www.fxfatcat.com/forex-forum/showthread.php?2522-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT) http://www.fxfatcat.com/forex-forum/showthread.php?2521-STP-ECN-DMA-is-best-Will-the-DD-MM-survive&goto=newpost Fri, 10 May 2013 12:44:28 GMT I'd like to ask the opinion of all experienced and knowledgeable traders...do you think that the emergence of true STP/ECN/DMA brokers will equal the end of the dealing desk and market making brokers? The DDs and MMs have such a built such a bad reputation over the years, i noticed that in the last 6 months, they are all rushing to convince the world that they are STP/ECN/DMA models and not dealing desks. But come on, how stupid do you think we are?

They claim all "strategies are welcome", we can "accept scalpers" or "trade using your EA" when we know that as soon as trading is profitable, we won't be welcome and manipulation begins. This is how theyve worked for many years, hoping or arranging for clients to lose money so they can make profit!

So, if you are tricked by this cover up that these market makers have become STP over night, check the conditions people...check the stop limits and levels (a true DMA/STP will have zero limits) check the counter party, check the spreads or commissions and do a calculation (my spread is 0.2 pips and my commission is 0.3, total 0.5 pips costs per lot), does it make sense that they give me 100% bonus and a rebate!!!!!!!???!!!! No of course not, its a dealing desk. Any broker that works for that will either be bankrupt or is a dealing desk.

Sorry for the ranting guys, I am fedup of reading that I****forex, L******x F****n and such brokers are STP brokers...I say BULLS**T!

]]> Broker Discussion adfxdt http://www.fxfatcat.com/forex-forum/showthread.php?2521-STP-ECN-DMA-is-best-Will-the-DD-MM-survive http://www.fxfatcat.com/forex-forum/showthread.php?2520-Forex-Technical-amp-Market-Analysis-FXCC-May-10-2013&goto=newpost Fri, 10 May 2013 10:42:56 GMT Forex Technical & Market Analysis FXCC May 10 2013

Will a busy economic schedule next week be the catalyst for EUR/USD?

The EUR/USD finished the day down 116 pips at 1.3044. Economic data was quiet for the most part but weekly jobless claims out of the US came in better than expected at 323k vs. 3.35k forecast. The US Dollar was well bid across the board, with the majority of action taking place in the USD/JPY which crossed the 100 threshold for the first time in four years. This seemed to help provide additional USD buying against other pairs, and also helped limit advances in commodities which were primarily lower for the day. Economic releases out of the Eurozone in the coming session include German Trade Balance, Italian Industrial Production, and EU Consumer Price Index.

After the better than expected jobs number past Friday, and another week of improvement in continued claims, some analysts view it as a sign the US Dollar could be set up for further gains in coming weeks. Furthermore, if we see continued gains in USD/JPY it could also be a tailwind and help the US Dollar remain well bid in other pairs. https://support.fxcc.com/email/technical/10052013/

FOREX ECONOMIC CALENDAR :

2013-05-10 12:30 GMT | US.Fed's Bernanke Speech
2013-05-10 12:30 GMT | CA.Unemployment Rate (Apr)
2013-05-10 12:30 GMT | CA.Net Change in Employment (Apr)
2013-05-10 12:30 GMT | CA.Participation rate (Apr)

FOREX NEWS :
2013-05-10 04:36 GMT | Kiwi edging lower in Asia trade
2013-05-10 01:59 GMT | USD/JPY, bulls officially staring at 101.00 from the rear mirror
2013-05-10 01:03 GMT | AUD/USD feeling the selling pressure ahead of RBA statement
2013-05-10 00:28 GMT | USD/JPY completes ‘pennant’ pattern on daily chart, further gains ahead?


----------------------
EURUSD
HIGH 1.30467 LOW 1.30214 BID 1.30451 ASK 1.30455 CHANGE 0.03% TIME 08:20:08



OUTLOOK SUMMARY Down
TREND CONDITION Downward penetration
TRADERS SENTIMENT Bullish
IMPLIED VOLATILITY Medium

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3056 (R1). Price extension above it is required to validate our next intraday targets at 1.3079 (R2) and 1.3105 (R3). Downwards scenario: Any downside penetration is limited to the initial support level at 1.3010 (S1). A breach of which would open a route towards to next target at 1.2987 (S2) and potentially could expose our final support for today at 1.2965 (S3).

Resistance Levels: 1.3056, 1.3079, 1.3105

Support Levels: 1.3010, 1.2987, 1.2965

----------------------
GBPUSD
HIGH 1.54572 LOW 1.54377 BID 1.54487 ASK 1.54490 CHANGE 0.01% TIME 08:20:09



OUTLOOK SUMMARY Down
TREND CONDITION Down trend
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium

Upwards scenario: Market formed gradual descending move however price appreciation is possible above the next resistance level at 1.5460 (R1). Break here is required to enable next attractive points at 1.5487 (R2) and 1.5516 (R3). Downwards scenario: Penetration below the support at 1.5427 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.5402 (S2) and 1.5380 (S3) might be triggered.

Resistance Levels: 1.5460, 1.5487, 1.5516

Support Levels: 1.5427, 1.5402, 1.5380

----------------------
USDJPY
HIGH 101.197 LOW 100.54 BID 100.937 ASK 100.942 CHANGE 0.32% TIME 08:20:10



OUTLOOK SUMMARY Up
TREND CONDITION Upward penetration
TRADERS SENTIMENT Bearish
IMPLIED VOLATILITY Medium

Upwards scenario: USD/JPY continue its consolidation phase on the hourly chart. Possibility of uptrend evolvement is seen above the next resistance at 101.11 (R1). Violation here might increase bullish pressure and validate next intraday targets at 101.47 (R2) and 101.83 (R3). Downwards scenario: Further correction development is limited now to the session low - 100.56 (S1). If the price manages to surpass it we would suggest next intraday targets at 100.18 (S2) and 99.75 (S3).

Resistance Levels: 101.11, 101.47, 101.83

Support Levels: 100.56, 100.18, 99.75

Source: FX Central Clearing Ltd,( http://www.fxcc.com )

]]> Daily Analysis alayoua http://www.fxfatcat.com/forex-forum/showthread.php?2520-Forex-Technical-amp-Market-Analysis-FXCC-May-10-2013 http://www.fxfatcat.com/forex-forum/showthread.php?2519-Forex-Future&goto=newpost Fri, 10 May 2013 10:37:20 GMT I want to know about what is the future of Forex trading? Share your views on this... I want to know about what is the future of Forex trading?
Share your views on this...

]]> General Forex Discussion angelnish http://www.fxfatcat.com/forex-forum/showthread.php?2519-Forex-Future http://www.fxfatcat.com/forex-forum/showthread.php?2518-Forex-Technical-amp-Market-Analysis-FXCC-May-09-2013&goto=newpost Thu, 09 May 2013 10:03:21 GMT Forex Technical & Market Analysis FXCC May 09 2013

EUR/USD notches a solid day of gains as ‘risk on’ mentality continues

In a day where risk assets were primarily well bid across the board, the Euro was able to notch some decent gains, finishing up 81 pips at 1.3159. The initial catalyst which seemed to help push the pair higher was the German Industrial Production (MoM) release which came in at 1.2% actual vs. -0.1% forecast. According to analysts at TD Securities, “In Europe, a solid German industrial production release has boosted the EUR. Not significantly though, as the very well established range that has held since early April remains firmly intact. EUR focus remains on the evolving ECB message, which as we heard last week remains open to another rate cut. They have not signaled any balance sheet expanding programs, however, which overall could leave the EUR well supported.”

The German data also seemed to give a boost to both commodities and equities, with oil notching its’ highest close since late March and the S&P 500 closing at a new all time high of 1632.59. The recent behavior of the EUR/USD is beyond confusing as it appears to follow risk assets some days and others have no correlation to outside markets at all. Although it must be noted, the EUR does continue to outperform the commodity currencies such as the AUD and NZD. http://blog.fxcc.com/forex-technical...s-may-09-2013/

FOREX ECONOMIC CALENDAR :
2013-05-09 11:00 GMT | UK.BoE Asset Purchase Facility
2013-05-09 11:00 GMT | UK.BoE Interest Rate Decision (May 9)
2013-05-09 12:30 GMT | US.Initial Jobless Claims (May 3)
2013-05-09 14:00 GMT | UK.NIESR GDP Estimate (3M) (Apr)

FOREX NEWS :
2013-05-09 03:11 GMT | GBP/USD continues to consolidate ahead BOE Rate Decision
2013-05-09 01:19 GMT | Aussie rockets higher after AUD jobs data crushes estimates
2013-05-09 01:19 GMT | EUR/JPY ready for the next leg up?
2013-05-08 23:42 GMT | AUD/JPY finishes slightly lower after narrow range day

------------------------
Forex Technical Analysis EURUSD :
MARKET ANALYSIS – Intraday Analysis



Upwards scenario: Instrument stabilized after the gains provided yesterday. Penetration above the resistive structure at 1.3185 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.3206 (R2) and 1.3226 (R3). Downwards scenario: On a slightly longer term we expect pullback formation. Risk of market depreciation is seen below the next support level at 1.3152 (S1). Clearance here would suggest lower targets at 1.3128 (S2) and 1.3105 (S3) in potential.

Resistance Levels: 1.3185, 1.3206, 1.3226

Support Levels: 1.3152, 1.3128, 1.3105

-------------------------
Forex Technical Analysis GBPUSD :



Upwards scenario: Pair has settled sideways formation on the hourly timeframe. However potential to move higher is seen above the resistance level at 1.5549 (R1) mark. Loss here would suggest next intraday targets at 1.5565 (R2) and 1.5581 (R3). Downwards scenario: Possible downside expansion would attack our support levels at 1.5517(S2) and 1.5498 (S3). However prior reaching our targets, market should manage to overcome the resistive structure at 1.5533 (S1).

Resistance Levels: 1.5549, 1.5565, 1.5581

Support Levels: 1.5533, 1.5517, 1.5498

-----------------------
Forex Technical Analysis USDJPY :



Upwards scenario: USD/JPY tested negative side the past days, however break above the resistance at 99.00 (R1) is liable to stimulate bullish pressure and validate next targets at 99.14 (R2) and 99.27 (R3). Downwards scenario: Loss of our support level at 96.68 (S1) would open road for a market decline towards to our next target at 98.57 (S2). Any further price weakening would then be limited to final support for today at 98.40 (S3).

Resistance Levels: 99.00, 99.14, 99.27

Support Levels: 98.68, 98.57, 98.40

Source: FX Central Clearing Ltd,( Forex Trading Blog | Learn Forex Training | Best Forex Accounts | FXCC )

]]> Daily Analysis alayoua http://www.fxfatcat.com/forex-forum/showthread.php?2518-Forex-Technical-amp-Market-Analysis-FXCC-May-09-2013 http://www.fxfatcat.com/forex-forum/showthread.php?2517-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT)&goto=newpost Thu, 09 May 2013 08:02:41 GMT *EUR/USD* The Euro holds positive near-term tone after yesterday’s rally above hourly triangle resistance that peaked at 1.3192. Corrective easing... EUR/USD

The Euro holds positive near-term tone after yesterday’s rally above hourly triangle resistance that peaked at 1.3192. Corrective easing has so far been contained by 20 day EMA at 1.3150 zone, near Fib 38.2% of 1.3070/1.3192 upleg. Indicators on 1 and 4h charts are in the positive territory that keep the upper boundary of near-term range at 1.3241 in focus, with initial barrier standing at 1.3200. On the downside, below 1.3150, next solid support lays at 1.3030, 50% retracement / previous high of 07 May and reinforced by 55 day EMA. Potential break here to weaken near-term structure

Res: 1.3192, 1.3200, 1.3217, 1.3241
Sup: 1.3150, 1.3130, 1.3100, 1.3085







GBP/USD

Cable remains steady, following yesterday’s test of levels near 1.5600 tops and subsequent pullback that found support at 1.5530, Fib 38.2% of 1.5445/1.5590 rally. Hourly indicators are reversing higher and holding above the midlines, with bullish 20/55 EMA’s crossover at 1.5520, also 50% retracement, underpinning the action. On the other side, 4h indicators are struggling at their midlines that would keep the downside risk in play, as long as 1.5600 barrier stays intact. Break here to resume short-term rally from 1.4830 and open next target at 1.5630.

Res: 1.5590, 1.5605, 1.5630, 1.5650
Sup: 1.5530, 1.5518, 1.5500, 1.5470









USD/JPY

The pair remains in descending mode, following upside rejection at 99.44 on Monday and series of lower tops, confirming near-term downtrend that reached the lowest so far at 98.57, low of yesterday. While 99.00 barrier caps, the downside risk will persist, as hourly studies are negative and 4h indicators running out of steam. Break below 98.50, Fib 38.2% of 97.00/99.44 upleg and 55 day EMA, is required to confirm reversal and signal lower top at 99.44. Conversely, lift above 99.00 would avert immediate downside risk, however clearance of 99.34/44 highs is required to shift focus towards initial target and psychological barrier at 100.00.

Res: 99.00, 99.14, 99.34, 99.44
Sup: 98.57, 98.50, 98.20, 98.00






AUD/USD

The pair got boosted by fundamentals and rallied from the near-term base at 1.0150 zone, with break above strong 1.0200/20 barriers reducing bear pressure, as gains reached 1.0250, Fib 61.8% of 1.0321/1.0154 downleg. With hourly studies turning bullish, situation on 4h chart is still fragile, as indicators hold in the negative territory. Break above trendline resistance at 1.0290 and psychological 1.0300 barrier would provide relief and avert scenario of slide below 1.0150 and test of multi-month range floor at 1.0114, 04 Mar low.

Res: 1.0257, 1.0290, 1.0300, 1.0321
Sup: 1.0220, 1.0200, 1.0180, 1.0154




]]> Trading Analysis WindsorBrokers http://www.fxfatcat.com/forex-forum/showthread.php?2517-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT) http://www.fxfatcat.com/forex-forum/showthread.php?2516-Forex-Technical-amp-Market-Analysis-FXCC-May-08-2013&goto=newpost Wed, 08 May 2013 10:01:05 GMT Forex Technical & Market Analysis FXCC May 08 2013

What Equity Rally Says About Currencies

Over the past week, all of the action has been in equities. U.S. stocks powered to new record highs while currencies consolidated quietly. The U.S. dollar weakened against the euro and Japanese Yen and strengthened against the British pound, Swiss Franc, Australian and New Zealand dollars. This divergent price action confirms that there isn't one directional interest in currencies. Part of the reason why currencies have not enjoyed the same type of strong trend as equities is because this is a QE driven rally and with central banks around the world engaged in new rounds of easing, the availability of more stimulus has been ambiguously positive for stocks. Unfortunately these simultaneous easing programs has also clouded the outlook for currencies as investors wonder which central bank will win the race to debase.

The rally in stocks and consolidation in currencies also tells us that investors are much more interested in joining the trend in equities than try to figure out whether support or resistance will be broken in currencies. Eventually this will change but for the time being we can't ignore the fact that the big moves are happening in other markets. However what stocks have done for currencies is keep them supported - if not for the equity market rally, we would have probably seen a deeper sell-off in the EUR/USD and AUD/USD.
https://support.fxcc.com/email/technical/08052013/

FOREX ECONOMIC CALENDAR :
2013-05-08 10:00 GMT | EU.Industrial Production s.a. w.d.a. (YoY) (Mar)
2013-05-08 12:15 GMT | CA.Housing Starts s.a (YoY) (Apr)
2013-05-08 17:00 GMT | US.10-Year Note Auction
2013-05-08 22:45 GMT | NZ.Unemployment Rate (Q1)

FOREX NEWS :
2013-05-08 04:35 GMT | EUR/USD unable to find direction as global equities continue higher
2013-05-08 03:32 GMT | GBP/USD rally runs out of steam, finishes day sharply lower
2013-05-08 02:37 GMT | Aussie attempting to claw back some losses during Asia trade
2013-05-08 00:24 GMT | USD/JPY edging lower during early Asia trade


EURUSD :
HIGH 1.30975 LOW 1.30716 BID 1.30926 ASK 1.30932 CHANGE 0.12% TIME 08:12:49



OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: While price is quoted above the moving averages out technical outlook would be positive. Yesterday high offers next resistance level at 1.3119 (R1). Any price action above it would suggest next targets at 1.3156 (R2) and 1.3185 (S3). Downwards scenario: Next support level is seen at 1.3072 (S1), any penetration below it might activate downside pressure and enable lower target at 1.3043 (S2). Any further market decline would then be limited to 1.3010 (S3).

Resistance Levels: 1.3119, 1.3156, 1.3185

Support Levels: 1.3072, 1.3043, 1.3010

--------------------------
GBPUSD :
HIGH 1.54891 LOW 1.54704 BID 1.54798 ASK 1.54805 CHANGE -0.02% TIME 08:12:50



OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low

Upwards scenario: GBP extended its decline versus the USD and determined a negative short-term technical outlook. However above the resistance at 1.5488 (R1) opens a route towards to next resistive measures at 1.5503 (R2) and 1.5522 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.5474 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.5460 (S2) and 1.5449 (S3).

Resistance Levels: 1.5488, 1.5503, 1.5522

Support Levels: 1.5474, 1.5460, 1.5449

-------------------------
USDJPY :
HIGH 99.15 LOW 98.64 BID 98.965 ASK 98.969 CHANGE -0.03% TIME 08:12:51



OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low

Upwards scenario: Yesterday high offers key resistance level at 99.27 (R1). Clearance here is required to resume uptrend structure towards to next target at 99.43 (R2) and any further price appreciation would then be limited to last resistance for today at 99.63 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 98.78 (S1). Possible price regress could expose our initial targets at 98.62 (S2) and 98.40 (S3) in potential.

Resistance Levels: 99.27, 99.43, 99.63

Support Levels: 98.78, 98.62, 98.40

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

]]> Daily Analysis alayoua http://www.fxfatcat.com/forex-forum/showthread.php?2516-Forex-Technical-amp-Market-Analysis-FXCC-May-08-2013 http://www.fxfatcat.com/forex-forum/showthread.php?2515-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT)&goto=newpost Wed, 08 May 2013 07:40:37 GMT *EUR/USD* The Euro remains in the range-trading mode, with slight improvement seen on a break above 1.3100 barrier, as near-term base has been... EUR/USD

The Euro remains in the range-trading mode, with slight improvement seen on a break above 1.3100 barrier, as near-term base has been established at 1.3060 zone. Hourly and 4h structure remains weak, however, fresh strength threatens break through 4h triangle resistance at 1.3120, along with recent highs at 1.3130 zone, also 50% of 1.3241/1.3032 that is required to further improve near-term tone for possible extension towards the range tops. Conversely, slide below 1.3100., would shift the focus lower and expose 1.3060/30, strong support zone.

Res: 1.3120, 1.3135, 1.3160, 1.3200
Sup: 1.3060, 1.3052, 1.3032, 1.3000








GBP/USD

Cable trades in a near-term corrective mode, following yesterday’s sharp fall that found temporary support at 1.5445/1.5603 upleg. As lower timeframes studies weakened and indicators slid into negative territory, downside risk towards pivotal 1.5410/00 support zone, remains in play. Recovery attempts face good barrier at 1.5500, while only break above 1.5500, yesterday’s high, would ease immediate bear pressure.

Res: 1.5570, 1.5605, 1.5650, 1.5700
Sup: 1.5470, 1.5445, 1.5410, 1.5400










USD/JPY

The pair remains at the back foot, following upside rejection at 99.44 on Monday and series of lower tops, defining near-term descend. With 99.00 barrier capping the upside and yesterday’s low at 98.63, coming under pressure, more risk is seen towards the downside in the near-term. However, break below 98.50, Fib 38.2% of 97.00/99.44 upleg and 55 day EMA, is required to confirm reversal and signal lower top at 99.44. Alternative scenario requires break above 99.34/44 highs to shift focus towards initial target and psychological barrier at 100.00.

Res: 99.14, 99.34, 99.44, 99.74
Sup: 98.63, 98.50, 98.20, 98.00







AUD/USD

The pair trades in a near-term recovery mode, off fresh lows posted at 1.0154, where basing attempt becomes evident. Yesterday’s loss of strong 1.0220 support and near-term base, as well as psychological 1.0200 handle, keeps bears in play for eventual push towards key support and larger range bottom at 1.0114. Recovery rally needs to clear 1.0200/20, previous strong support, also Fib 38.2% of 1.0321/1.0154 descend, to ease immediate bear-pressure and allow for further recovery, however, overall bearish tone sees the action limited and keeps the downside in focus.

Res: 1.0200, 1.0220, 1.0253, 1.0300
Sup: 1.0180, 1.0154, 1.0114, 1.0100




]]> Trading Analysis WindsorBrokers http://www.fxfatcat.com/forex-forum/showthread.php?2515-Short-Term-Technical-Analysis-for-Majors-(07-00-GMT)