FXCC
FXCC FXCC FXCC
FXCC FXCC FXCC FXCC FXCC FXCC FXCC FXCC FXCC
MARKET UPDATE 07.02.2012

2012-02-07 07:00 GMT

Euro in limbo due to Greece stalemate..

The euro traded at $1.3122 as of 8:08 a.m. in Tokyo from $1.3130 in New York yesterday when it fell 0.2 percent. EUR/USD is trading a tight 1.3109-33 range in Tuesday’s Asia-Pacific session, last seen printing in the 1.3120 price zone, just above the 50-day EMA. The common currency was little changed at 100.47 yen after losing 0.3 percent yesterday. The dollar fetched 76.56 yen from 76.55. GBP/USD is trading in consolidation mode after rising around 100 pips during the days sessions from an intra-day low at 1.5730 to reach a daily high at 1.5840 on the back of talks on a possible Greece agreement. The pair is pricing at 1.5825, moving in a small range between 1.5820 and 1.5830. USD/CHF falls below 0.9200. The Dollar is currently trading lower versus the Swiss Franc. After testing highs at 0.9260, the USD/CHF fell sharply losing more than 90 pips to reach levels below 0.9200 and trade close to 0.9180. Price has been hitting 0.9200 in the early part of the Asian/Pacific session.

AUD/USD has been (late evening/early morning) in a consolidation range, trading between 1.0680 and 1.0763, ending the day lower at 1.0723, 25 pips below its starting price. In the Asia-Pacific session the paring is virtually unchanged, hovering circa 1.0720, as investors await the RBA interest rate decision. The Canadian currency, nicknamed the loonie, appreciated 0.9 percent to 99.34 cents per U.S. dollar yesterday in Toronto, from C$1.0018 on Jan. 27, the longest winning streak since the four weeks ended Oct. 28. The loonie touched 99.28 cents yesterday, the most since Oct. 31. One Canadian dollar buys $1.0066. At 1:00 am the price is currently 99.61 down 0.02 in the first part of the Asian/Pacific session.

Read More

2012-02-07 03:30 GMT

Australia RBA Interest Rate Decision (Feb 7)

2012-02-07 05:00 GMT

Japan Leading Economic Index (Dec) Preliminar

2012-02-07 11:00 GMT

Germany Industrial Production s.a. w.d.a. (YoY) (Dec)

2012-02-07 11:00 GMT

Germany Industrial Production s.a. (MoM) (Dec)

2012-02-07 05:03 GMT

Japan Dec Coincident Index increase to 93.2

2012-02-07 05:02 GMT

Japan: Leading Economic Index (Dec): 94.3

2012-02-07 03:30 GMT

RBA Interest Rate Decision steadies at 4.25% in Feb 7

2012-02-07 00:01 GMT

UK - BRC Retail Sales Monitor - All (YoY) -0.3% in Jan

AUDUSD
1.07957 / 964
0.007 0.66%
NZDUSD
0.83315 / 329
-0.0009 -0.11%
USDCHF
0.91988 / 000
0.0014 0.15%
USDCAD
0.99699 / 705
0.0013 0.13%
GBPJPY
121.161 / 179
0.041 0.03%
EURCHF
1.20593 / 611
-0.0003 -0.02%
GOLD
1726.20 / .56
6.4301 0.37%
SILVER
33.68 / .72
0.05 0.15%
EURUSD 1.31086 / 1.31092
DAILY WEEKLY MONTHLY
High: 1.31366 | Low: 1.30891 | Chg: -0.0022 -0.17%

1.3247

1.3205

1.3167

1.3141

1.3026

1.2962

1.2909

1.2873

SUMMARY

up

TREND

sideway

MA10

bullish

MA20

bullish

STOCHASTIC

neutral

 

MARKET ANALYSIS - Intraday Analysis

EURUSD after a short consolidation, continues to rise from yesterdays support level of 1.3026 (S1) and has reached a high at 1.3141 (R1) so far. If we switch to an H4 timeframe, we can see that the pair is going through a trading range between our first support and 1.3205 (R3). If the pair manages to hold above 1.3026 (S1) we can expect a further rise towards our first resistance level at 1.3141 (R1) and a sustained rise will then approach 1.3167 (R2). On the other hand, if the price does not manage to break above 1.3141 ( R1) we can expect the price to move downwards and retest the first support level at 1.3026 (S1) a technical and psychological level for the bulls and a deeper decline could be then supported at 1.2962 (S2).

GBPUSD 1.57995 / 1.58008
DAILY WEEKLY MONTHLY
High: 1.58314 | Low: 1.57962 | Chg: -0.0024 -0.15%

1.5919

1.5882

1.5860

1.5831

1.5729

1.5704

1.5653

1.5604

SUMMARY

TREND

up
trend

MA10

Bullish

MA20

bullish

STOCHASTIC

oversold

 

MARKET ANALYSIS - Intraday Analysis

After price formed bottom at 1.5729 (S1) GBPUSD was able to break above 1.5776 and has now found a strong resistance at 1.5831 (R1). A break above that level will be suggesting target at 1.5860 (R2) and 1.5882 (R3). On the other hand, if price fails to break above 1.5831 (R1) we will then expect the price to retest 1.5729 (S1) and then further decline towards 1.5704 (S2). We are in a very crucial level as it is a possibility to either have a continuation of the uptrend or a correction downwards towards our first support level and then continue its upwards move. Look for long positions in today trading session.

USDJPY 76.685 / 76.690
DAILY WEEKLY MONTHLY
High: 76.78 | Low: 76.517 | Chg: 0.138 0.18%

77.92

77.68

77.29

76.80

76.49

76.25

76.01

75.54

SUMMARY

up

TREND

up
trend

MA10

bullish

MA20

bullish

STOCHASTIC

oversold

 

MARKET ANALYSIS - Intraday Analysis

USDJPY fell yesterday after reaching a strong resistance level 76.80 (R1) and was supported at 76.49 (S1) and now it seems that it is going to retest that level again. We expect the price to retest and then break below our first support level targeting 76.25 (S2) and 76.01 (S3). Look for short positions as the pair is losing momentum and we can see clearly that the bearish are holding strong resistance levels.

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.