2012-04-10 07:00 GMT
EUR/USD printing new weekly highs
After sporting a much firmer profile across the board, the USD is showing its weakest version in early HK trade, with the EUR/USD currently extending gains past the 1.3133 mark, yesterday's high.
The origin of the latest bull run comes after a recovery off 1.3030 support, forming a double bottom in the process. The rate has been able to establish a new weekly peak after a brief drive through 1.3141.
From a fundamental perspective, Spain and Italy remain on the spotlight with bond yields on the rise, undermining the allure towards the EUR. On the other side of the pond, Bernanke is yet to pull off the hat stronger easing rhetoric after today's uneventful speech.
AUD/USD is currently inching higher in Asia with Hong-Kong opening pushing higher, though Hang-Seng index is lower near -1%, and Nikkei is up around +0.5% bouncing in the 9500 points level after falling more than -5% in recent days. Aussie is trading at 1.3026 rising from session lows 1.0295.
Read More
|
|
2012-04-10 08:00 GMT
Norway
Consumer Price Index (MoM) (Mar)
2012-04-10 08:00 GMT
Norway
Core Inflation (MoM) (Mar)
2012-04-10 08:30 GMT
United Kingdom
DCLG House Price Index (YoY) (Feb)
2012-04-10 08:30 GMT
European Monetary Union
Sentix Investor Confidence (Apr)
|
2012-04-10 03:10 GMT
Japan BoJ Interest Rate Decision steadies at 0.1%
2012-04-10 03:07 GMT
China Trade Balance up to 5.347B in Mar
2012-04-10 01:30 GMT
Australia Mar ANZ Job Advertisements falls to 1% vs 3.3%
2012-04-10 01:30 GMT
Australia National Australia Bank's Business Confidence rises to 3 in Mar
|
|
|
|
|
|
|
|
|
|
SUMMARY
|
TREND
Up
trend
|
MA10
Bullish
|
MA20
Bullish
|
STOCHASTIC
Neutral
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
The EURUSD moved upwards and managed to stay above yesterday’s support 1.3035 (S1) and now it is moving towards 1.3163 (R1). A break above that level we suggest further rise towards 1.3248 (R2) and then 1.3341 (R3). On the other hand, if the price manages to hold below 1.3163 (R1) we can expect retest of 1.3035 (S1) and further fall will then be limited at 1.2951 (S3).
|
|
|
|
|
|
SUMMARY
|
TREND
Up
trend
|
MA10
Bullish
|
MA20
Bullish
|
STOCHASTIC
Neutral
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
GBPUSD is forming higher tops, as it rise for 3 consecutive days after forming a high at 1.6063 (R3), formed a strong support level at 1.5804 (S1). Following that we saw a correction towards 1.5884 and it seems the pair will re-test our resistance levels soon. A break above 15956 (R1) would suggest a target of 1.6016 (R2) and a further rise will then focus on the next target at 1.6063 (R3) a technical and psychological level. A stop loss should be placed below 1.5884 (S1).
|
|
|
|
|
|
SUMMARY
Down
|
TREND
Down
trend
|
MA10
Bearish
|
MA20
Bearish
|
STOCHASTIC
Neutral
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
The USDJPY rise and formed a new high (intraday) at 81.82 (R1) and after that fell towards yesterday’s first support. A break below 81.19 will confirm our short positions targeting 80.55 (S2) and further fall will then be limited at 79.98 (S3). A stop loss should be placed at 81.82 (R1).
|
