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2013-08-08 03:09 GMT
BoJ to keep massive monetary easing
BOJ kept monetary policy steady by unanimous vote, retaining its plan to increase monetary base at annual pace of 60-70 trillion yen. The bank said that the CPI uptick from recent months will gradually accelerate as inflation expectations continue to rise on the whole. Monetary easing to continue until 2% inflation target reached, the BoJ said. On the economic outlook, the central bank said the Japanese economy is recoverying moderately but still faces many uncertainties.
With no central bankers on the docket for the next seven trading sessions, the EUR/USD will be data dependent for directional guidance. Technicians give only a little room left for the rally. Most technicians are definitely of the opinion that this is definitely a corrective move higher for EUR/USD with an upside target range of 1.3350 to 1.3414 – which is just above current levels. So, they point out that unless and until 1.3414 is conquered on a closing basis that this is a rally to be sold. Any close above 1.3414 will open the door to much more upside – but that would seem to fly in the face of what the FOMC leaders have been saying recently. Short-term support comes in at two intraday pivots from Tuesday at 1.3265 and 1.3239 -FXstreet.com
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2013-08-08 08:00 GMT
EMU ECB Monthly Report
2013-08-08 12:30 GMT
US Initial Jobless Claims
2013-08-08 12:30 GMT
Canada. New Housing Price Index (YoY)
2013-08-08 23:50 GMT
Japan. Tertiary Industry Index (MoM)
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2013-08-08 05:02 GMT
EUR/USD resting below fresh 7-week highs at 1.3350
2013-08-08 04:50 GMT
AUD/NZD takes off to reach 1.1397 intraday highs
2013-08-08 04:50 GMT
GBP/USD consolidating gains above 1.55
2013-08-08 04:20 GMT
USD/CHF pocketing 0.13% gains on steady climb
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EURUSD
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HIGH
1.33506
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LOW
1.33281
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BID
1.33485
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ASK
1.33489
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CHANGE
0.1%
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TIME
08:35:44
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Up
trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Fresh high offers a key resistive barrier at 1.3346 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3358 (R2) and 1.3370 (R3) in potential.
Downwards scenario: On the other hand, depreciation below the technically important support level at 1.3327 (S1) might lead to the correction formation on the short-term perspective. Possible targets lies at 1.3314 (S2) and 1.3302 (S3).
Resistance Levels: 1.3346, 1.3358, 1.3370
Support Levels: 1.3327, 1.3314, 1.3302
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GBPUSD
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HIGH
1.55067
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LOW
1.54849
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BID
1.55067
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ASK
1.55071
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CHANGE
0.13%
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TIME
08:35:45
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Up
trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: After the strong appreciation yesterday we expect to see some consolidation ahead. Though clearance of next resistance level at 1.5531 (R1) might enable bullish pressure and open route towards to our next targets at 1.5557 (R2) and 1.5584 (R3).
Downwards scenario: On the downside, support level at 1.5478 (S1) limits possible retracement expansion. Break here is required to enable lower target at 1.5450 (S2) en route to final aim at 1.5424 (S3).
Resistance Levels: 1.5531, 1.5557, 1.5584
Support Levels: 1.5478, 1.5450, 1.5424
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USDJPY
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HIGH
96.935
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LOW
96.322
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BID
96.415
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ASK
96.416
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CHANGE
0.09%
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TIME
08:35:46
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Down
trend
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: Possible buying interest might arise above the resistance at 96.94 (R1). Clearance here would suggest next intraday target at 97.18 (R2) and if the price holds its momentum we can expect an exposure of 97.42 (R3).
Downwards scenario: On the other hand, further downtrend development may encounter supportive measure at 96.30 (S1). Penetration through this level would targeting then supportive means at 96.08 (S2) and 95.84 (S3) in potential.
Resistance Levels: 96.94, 97.18, 97.42
Support Levels: 96.30, 96.08, 95.84
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