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2012-03-05 07:00 GMT
Sterling near 2-weak high vs euro, but drops on dollar
EUR/USD opened marginally lower at 1.3191 at the weekly open, but managed to climb to 1.3213 after bouncing off support ahead of 1.3180 during the Asian session. The pair has since been bracketed between the mentioned range and now holds around 1.3190. AUD/USD has broken below intraday support at 1.0715 from an earlier high of 1.0741 following PMI data out of China, enabling the pair to slide to a fresh 5-day low in the 1.0700 area before stalling, last at 1.0704, recording a 0.23% loss on the day. The GBP/USD opened the week practically unchanged from its closing price at the end of trading last week, having operated between 1.5829 and 1.5843 so far in Asia, last quoted near the session high.
AUD/CAD is holding around last week's lows, last at 1.0613, with session lows at 1.0591 and highs at 1.0641. The cross is lower by -0.61% from previous weekly open, and still above Feb lows, since Jan 25. AUD/JPY is currently at 87.52, dealing with session lows set at 87.44 for the moment, below last Friday's lows. Losing some -0.31% for the session, the cross still holds above Feb 27/March 01 highs.
Read More
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2012-03-05 09:00 GMT
Germany
Purchasing Manager Index Services (Feb)
2012-03-05 09:00 GMT
EU - Purchasing Manager Index Services (Feb)
2012-03-05 09:30 GMT
United Kingdom
Purchasing Manager Index Services (Feb)
2012-03-05 10:00 GMT
EU - Retail Sales (YoY) (Jan)
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2012-03-05 02:42 GMT
China: HSBC Services PMI signals renewed growth at 53.9
2012-03-05 00:33 GMT
Australia ANZ Job Advertisements 3.3% in Feb
2012-03-05 00:31 GMT
Australia Company Gross Operating Profits -6.5% in 4Q
2012-03-05 00:30 GMT
GBP/USD unchanged in Asia; support at 1.5800
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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
Neutral
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MARKET ANALYSIS - Intraday Analysis
EURUSD formed a low at 1.3182 profiting on all our targets recommended in Friday’s analysis gaining a total of 69 pips!! A break below that level will be suggesting target at 1.3150 (S2) a technical level as we are still in a correction phase of our uptrend (daily). On the other hand if price manage to stay above 1.3182 we will then expect the price to retest 1.3280 (R1) and then further rise will then approach towards 1.3366 (R2). Our recommendation for today trading session is no position. I believe the pair it will continue its downward move and it will find a strong support at 1.3150 (S1). A level that it is very significant as it will determine if we are still in an uptrend (daily) or if we are heading to a trend reversal.
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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
Neutral
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MARKET ANALYSIS - Intraday Analysis
The GBPUSD fell from 1.5991 and broke below first and second resistance in our Friday’s recommended target gaining a total of 85 pips!!! After forming a top at 1.5991 (R2), price fell and made a support at 1.5808. A break below that level will suggest target at 1.5755(S1) and further fall will then be limited at 1.5680 (S2). On the other hand if price manage to stay above current level, we expect the price to retest 1.5896 (R1) and a break above that level we suggest target at 1.5991 (R2) a strong resistance level for the bears .
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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
The USDJPY rise on Friday and closed above Friday’s resistance giving us a small profit of 20 pips. After that the price fell sharply and formed a bottom around 81.15. We expect the price to continue its upward move as it is under bullish pressure (daily), but before that we can expect for a retest and correction downwards towards 81.00 (S1) and then to continue upwards. Look for long positions at 81.00 (S1) with a stop loss at 80.40 (S2) targeting 81.87 (R1) a strong technical level for the bulls.
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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
and involves substantial risk of loss. It is possible to lose all your capital.
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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