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2012-04-02 07:00 GMT
EUR/USD still below 1.3350; PMI, employment data eyed
EUR/USD has been little changed after giving up the early upside advantage at the weekly opening, having started the day at 1.3360, then trading down to a session low of 1.3330 during the Asia-Pacific hours, last at 1.3340/45 versus 1.3335 late Friday.In the European session ahead, the Purchasing Manager Index Manufacturing data for March is due at 0758 GMT, expected to remain in contractionary territory. About two hours later, the February Unemployment Rate will be released, with surveyed economists anticipating an increase in the rate by 0.1% to 10.8%.
For the past two weeks EUR/JPY has been range bound between 108.45 and 111.45, last quoted near the top of the range at 110.95 this hour in Asia as it operates around the 111.00 figure, up from 110.40 late Friday.The Australian dollar has fallen to fresh session lows against the greenback this Monday in Asia after disappointing building approval numbers for February were released by the Australian Bureau of Statistics.
AUD/USD slid sharply from pre-data 1.0415, to lows below the 1.0400 mark, last at 1.0395 versus 1.0365 late Friday, still up 0.4% on the day.
Read More
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2012-04-02 07:15 GMT
Switzerland
Real Retail Sales (YoY) (Feb)
2012-04-02 07:53 GMT
GermanyPurchasing Manager Index Manufacturing (Mar)
2012-04-02 07:58 GMT
European Monetary Union
Purchasing Manager Index Manufacturing (Mar)
2012-04-02 10:01 GMT
European Monetary Union
Unemployment Rate (Feb)
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2012-04-02 04:01 GMT
GBP/USD at session lows below 1.6000
2012-04-02 02:57 GMT
EUR/JPY trading sideways around 111.00
2012-04-02 01:58 GMT
EUR/USD closes the opening gap
2012-04-02 01:30 GMT
Australia Feb Building Permits (MoM) -7.8%
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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
Neutral
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MARKET ANALYSIS - Intraday Analysis
EURUSD after a short consolidation, continue to rise from Friday’s support level of 1.3260(S2) and has reached a high at 1.3382 (R1) so far. If we switch to an H4 timeframe, we can see that the pair is going through another consolidation and if the pair manages to hold above 1.3308 (S1) we can expect a further rise and retest towards our first resistance level at 1.3382 (R1). A break above that level would suggest target at 1.3451 (R2). On the other hand, if the price does not manage to break above 1.3382 (R1) we can expect the price to move downwards and retest the first support level at 1.3308 (S1) and a deeper decline could be then supported at 1.3260 (S2).
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SUMMARY
Up
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TREND
Up trend
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MA10
Neutral
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MA20
Bearish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
GBPUSD moved upwards and formed a lower high at 1.6030 and after that the price fell retesting Friday’s support level. A break below 1.5943 (S1) would suggest target at 1.5882 (S2) and further fall will then be limited at 1.5842 (S3). On the other hand if the pair find a strong momentum to the upwards we expect the price to retest 1.6036 (R1) a significant level for the bulls as a break above that level would suggest target at 1.6071 (R2).
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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
Neutral
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MARKET ANALYSIS - Intraday Analysis
USDJPY rebounded from 81.83 (S2) and made a sharp move upwards successfully penetrating our first resistance level and closed just below of our second level. It now seems the pair is doing a small correction before it continues its move upwards towards 83.77 (R2). A proper confirmation for long positions will be when the price manages to break above our first resistance level. A stop loss should be placed above 81.83 (S2)
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MARKET INFORMATION AND OPINIONS: Any information provided by FXCC
on this newsletter, including but not limited to news, research, opinions, analyses
and prices, is provided as commentary on the Forex market generally -- in other
words, it is not, and should not be considered as, investment advice. Consequently,
FXCC shall not be liable for any loss or damage, including but not limited to loss
of profits, which arises directly or indirectly from reliance upon or use of information
contained on this newsletter.
RISK WARNING: Trading in Forex and Contracts for Difference (CFDs) is highly speculative
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Forex and CFDs may not be suitable for all investors. Only invest with money you
can afford to lose. Please ensure you fully understand the risks involved before
investing. Seek independent advice if necessary.
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