|
|
|
|
2012-12-06 16:46 GMT
ECB, Berlusconi Hit EURUSD Hard
Lower by 0.73% in the morning session, the EURUSD is being weighed down by major developments in Europe. Specifically, sparks of political instability in one of the troubled EU members, as well as a pessimistic outlook on Europe’s growth potential is making it difficult for traders to be bullish the Euro. The sentiment has traders and technicians eyeing the 1.2900 as the next viable support barrier.
Although leaving the benchmark interest rate at 0.75% early in the morning, the European Central Bank issued a dour note when it came time to assess the economic future of the European Union. In a post decision press conference, ECB President Mario Draghi noted that significant headwinds had placed pressure on a potential regional recovery. So much so that growth prospects for next year were forecasted lower, with the 17-member Union looking to either remain unchanged or contract slightly. Official estimates now lie between a 0.3% pace of growth and a 0.9% contraction in 2013.
Additionally, Draghi noted that “available statistics and survey indicators continue to signal further weakness in activity in the last quarter of the year”.This isn’t seen as favorable for the Euro, which was expecting a slight recovery in the European Union next year – at a pace of 0.5%. - FXstreet.com
|
|
2012-12-07 10:00 GMT
EMU.ECB President Draghi's Speech
2012-12-07 13:30 GMT
Canada.Net Change in Employment (Nov)
2012-12-07 13:30 GMT
Canada.Unemployment Rate (Nov)
2012-12-07 13:30 GMT
USA.Nonfarm Payrolls (Nov)
|
2012-12-07 05:50 GMT
GBP/USD unchanged around 1.0650; UK, US data eyed
2012-12-07 02:58 GMT
EUR/JPY grinds back up to 107 after overnight drop
2012-12-07 06:06 GMT
Will NFP confirm EUR/USD weekly losses?
2012-12-07 00:38 GMT
AUD/USD, Australia trade number discourages volatility; stops above 1.0525
|
|
|
|
|
|
EURUSD
|
HIGH
1.29724
|
LOW
1.29548
|
BID
1.29564
|
ASK
1.29571
|
CHANGE
-0.09%
|
TIME
08:05:55
|
|
|
|
|
OUTLOOK SUMMARY
Down
|
TREND CONDITION
Downward
penetration
|
TRADERS SENTIMENT
Bullish
|
IMPLIED VOLATILITY
High
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
Current price deviation might face next support level at 1.2950 (S1). We expect price downgrade towards to our targets at 1.2942 (S2) and 1.2931 (S3) as a part of consolidation formation in case of successful penetration below it.
Resistance Levels: 1.3048, 1.3070, 1.3092
Support Levels: 1.2950, 1.2942, 1.2931
|
|
GBPUSD
|
HIGH
1.60573
|
LOW
1.60359
|
BID
1.60533
|
ASK
1.60542
|
CHANGE
0.02%
|
TIME
08:05:56
|
|
|
|
|
OUTLOOK SUMMARY
Down
|
TREND CONDITION
Downward
penetration
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
High
|
|
|
|
Price might retest our support at 1.6034 (S1) on the downside. Break here would suggest next target at 1.6037 (S2) and any further fall would then be targeting to 1.6012 (S3).
Resistance Levels: 1.6082, 1.6094, 1.6117
Support Levels: 1.6034, 1.6027, 1.6012
|
|
USDJPY
|
HIGH
82.564
|
LOW
82.363
|
BID
82.379
|
ASK
82.384
|
CHANGE
0%
|
TIME
08:05:57
|
|
|
|
|
OUTLOOK SUMMARY
Sideway
|
TREND CONDITION
Neutral
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
High
|
|
|
|
Instrument trapped to the range mode trading and we are not expecting significant deviation from its average parameters today. Risks of market strengthening are seen above the next resistance level at 82.46 (R1). Our suggested targets locate at 82.55 (R2) and 82.61 (R3).
Resistance Levels: 82.46, 82.55, 82.61
Support Levels: 82.29, 82.19, 82.12
|
|
|
MARKETING COMMUNICATION DISCLAIMER: The content of this material is a marketing communication, and not independent investment research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination.
The material is for general information purposes only (whether or not it states any opinions). It does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) legal, financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by FX Central Clearing Ltd. (“FXCC”) or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Although the information set out in this marketing communication is obtained from sources believed to be reliable, FXCC makes no guarantee as to its accuracy or completeness. All information is indicative and subject to change without notice and may be out of date at any given time. Neither FXCC, nor the author of this material shall be responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.
This material may include charts displaying financial instruments' past performance as well as estimates and forecasts. Any information relating to past performance of an investment does not necessarily guarantee future performance.
Unless otherwise stated, the prices used in the examples are FXCC’s own prices, and not those of third parties.
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.
|
|
