2012-03-02 07:00 GMT
EU: PLANS TO SLOW DEFICIT-CUTTING PLANS MAY STRETCH TILL JUNE
EUR/USD is currently trading at 1.3297 near recent session lows at 1.3294. With session highs at 1.3331, only 25 minutes after Tokyo opened at 00:00 GMT, the pair has been on the offer since then, losing some -0.27% on the way. On a weekly basis, the EUR/USD is lower by -1.25% since its opening on Monday.GBP/USD is under slight pressure ahead of the European open, having traded a narrow 1.5939-1.5964 margin during the Asia-Pacific session, last at 1.5942 from 1.5953 late Thursday in New York.
After 11th week with local share markets inching higher, NZD/USD is trading at 0.8383, same quotes reached early February, coming from mid Dec last year bouncing from 0.7466 price zone. EUR/AUD after Thursday’s decline to fresh weekly lows in the 1.2300 price zone, has been operating in consolidation mode between 1.2308 and 1.2343 so far in Friday’s Asia-Pacific session.
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2012-03-02 00:00 GMT
European Monetary Union
EU Economic Summit
2012-03-02 07:00 GMT
Germany
Retail Sales (MoM) (Jan)
2012-03-02 9:30 GMT
United Kingdom
PMI Construction (Feb)
2012-03-02 10:00 GMT
European Monetary Union
Producer Price Index (YoY)
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2012-03-02 05:29 GMT
GBP/USD gently offered ahead of European open
2012-03-02 03:30 GMT
EUR/USD still bracketed; holds above 1.3300
2012-03-02 00:54 GMT
USD/JPY pops to 81.30
2012-03-02 00:01 GMT
New Zealand ANZ Commodity Price 0% in Feb
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EURUSD Connection timeout
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SUMMARY
Down
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TREND
Down
trend
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
EURUSD fell below our first support and formed a bottom at 1.3280 (S1). After that the price rise and broke above the same level giving us only a small profit of pips. We expect the EURUSD to continue its move downwards and to complete the correction at the level of 1.3211 (S2). A proper confirmation for the short positions will be when the price manages to break below the first support level of 1.3280 (S1). A stop loss should be placed above 1.3333 (R1).
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SUMMARY
Up
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TREND
Up
trend
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
GBPUSD rise and moved closer to the first resistance level of 1.5991 (R1). A break above that level would suggest a target of 1.6029 (R2) and a further rise will then focus on the next target at 1.6068 (R3). On the downside, if the price does manage to stay below current resistance level 1.5991 (R1) we can expect retesting of 1.5896 (S1). A further decline will then bring focus to the next support level at 1.5811 (S2) a strong technical support level. We expect the price to retest first support level and then to move downwards targeting second support level at 1.5811 (S2). Look for short positions in today trading session with a stop loss below 1.5991 (R1).
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SUMMARY
Up
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TREND
Up
trend
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Overbought
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MARKET ANALYSIS - Intraday Analysis
USDJPY broke above our first support of 80.78 (S1) and is approaching towards 81.66 (R1) a strong technical level for the bulls. A break above that level we suggest target of 82.22 (R2). Both of our Moving Averages are pointed bullish and we expect the price to continue its upwards move targeting our support levels. A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 81.66 (S1). A stop loss should be placed below 81.15.
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