Forex Technical & Market Analysis FXCC Oct 08 2013

Go down

Forex Technical & Market Analysis FXCC Oct 08 2013

Post by Admin on Tue Oct 08, 2013 6:58 am

Forex Technical & Market Analysis FXCC Oct 08 2013

Chinese government officials fire off warning to USA treasury

The DJIA closed down 0.90% having experienced a late sell off towards the close of the afternoon session on Monday. As the day unwound any optimism for a solution faded, as did the secular rally enjoyed mid afternoon in the New York session. The SPX followed suit, closing down 0.85% and the NASDAQ closed down 0.98%. In the Chinese government's first public comments on the deadlock, Zhu urged Washington politicians to "learn their lessons from history". A reminder that the US AAA credit rating was downgraded by S&P two years ago after the last debt ceiling standoff. Zhu said; "The United States is totally clear about China's concerns about the fiscal cliff. We ask that the United States earnestly takes steps to resolve in a timely way before October 17 the political [issues] around the debt ceiling and prevent a U.S. debt default to ensure safety of Chinese investments in the United States and the global economic recovery. This is the United States' responsibility."
http://blog.fxcc.com/market-analysis

2013-10-08 12:15 GMT | Canada. Housing Starts s.a (YoY) (Sep)
2013-10-08 16:00 GMT | Switzerland. SNB Chairman Jordan Speech
2013-10-08 23:30 GMT | Australia. Westpac Consumer Confidence (Oct)
2013-10-08 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes

FOREX NEWS :
2013-10-08 05:00 GMT | USD/JPY pares earlier losses and strikes back above 97.00
2013-10-08 04:06 GMT | GBP/USD slightly downwards but consolidating yesterday’s gains
2013-10-08 03:28 GMT | USD/CHF pockets gains printing 0.9044 session highs
2013-10-08 01:56 GMT | EUR/USD glued to 1.3568 support


-------------------------
EURUSD :
HIGH 1.35816 LOW 1.35574 BID 1.35616 ASK 1.35618 CHANGE -0.14% TIME 08 : 13:56



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 1.3583 (R1) would enable bullish pressure and open route towards to our next targets at 1.3607 (R2) and 1.3630 (R3). Downwards scenario: Medium-term bias is clearly positive however possible progress below the initial support level at 1.3560 (S1) might expose our intraday targets at 1.3542 (S2) and then 1.3517 (S3) in perspective.

Resistance Levels: 1.3583, 1.3607, 1.3630
Support Levels: 1.3560, 1.3542, 1.3517

----------------
GBPUSD :
HIGH 1.60988 LOW 1.60695 BID 1.60699 ASK 1.60703 CHANGE -0.16% TIME 08 : 13:57



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

Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6099 (R1). A break above it would suggest next intraday target at 1.6122 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6150 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6061 (S1), we expect to see further market decline towards to our next target at 1.6035 (S2) and then next stop could be found at 1.6008 (S3) mark.

Resistance Levels: 1.6099, 1.6122, 1.6150
Support Levels: 1.6061, 1.6035, 1.6008

-------------------
USDJPY :
HIGH 97.134 LOW 96.566 BID 97.056 ASK 97.059 CHANGE 0.36% TIME 08 : 13:58



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

Upwards scenario: Immediate resistance at 97.29 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 97.58 (R2) and any further rise would then be limited to final resistive measure at 97.87 (R3). Downwards scenario: On the other hand, our next support level aligns at 96.79 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 96.43 (S2) and 96.05 (S3).

Resistance Levels: 97.29, 97.58, 97.87
Support Levels: 96.79, 96.43, 96.05

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

Admin
Admin

Posts : 152
Join date : 2013-04-12

View user profile http://bestcurrency.forumcanadien.org

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum