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2013-05-10 07:00 GMT
Will a busy economic schedule next week be the catalyst for EUR/USD?
The EUR/USD finished the day down 116 pips at 1.3044. Economic data was quiet for the most part but weekly jobless claims out of the US came in better than expected at 323k vs. 3.35k forecast. The US Dollar was well bid across the board, with the majority of action taking place in the USD/JPY which crossed the 100 threshold for the first time in four years. This seemed to help provide additional USD buying against other pairs, and also helped limit advances in commodities which were primarily lower for the day. Economic releases out of the Eurozone in the coming session include German Trade Balance, Italian Industrial Production, and EU Consumer Price Index.
After the better than expected jobs number past Friday, and another week of improvement in continued claims, some analysts view it as a sign the US Dollar could be set up for further gains in coming weeks. Furthermore, if we see continued gains in USD/JPY it could also be a tailwind and help the US Dollar remain well bid in other pairs. - FXstreet.com
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2013-05-10 12:30 GMT
US.Fed's Bernanke Speech
2013-05-10 12:30 GMT
CA.Unemployment Rate (Apr)
2013-05-10 12:30 GMT
CA.Net Change in Employment (Apr)
2013-05-10 12:30 GMT
CA.Participation rate (Apr)
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2013-05-10 04:36 GMT
Kiwi edging lower in Asia trade
2013-05-10 01:59 GMT
USD/JPY, bulls officially staring at 101.00 from the rear mirror
2013-05-10 01:03 GMT
AUD/USD feeling the selling pressure ahead of RBA statement
2013-05-10 00:28 GMT
USD/JPY completes ‘pennant’ pattern on daily chart, further gains ahead?
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EURUSD
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HIGH
1.30467
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LOW
1.30214
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BID
1.30451
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ASK
1.30455
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CHANGE
0.03%
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TIME
08:20:08
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Downward
penetration
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3056 (R1). Price extension above it is required to validate our next intraday targets at 1.3079 (R2) and 1.3105 (R3). Downwards scenario: Any downside penetration is limited to the initial support level at 1.3010 (S1). A breach of which would open a route towards to next target at 1.2987 (S2) and potentially could expose our final support for today at 1.2965 (S3).
Resistance Levels: 1.3056, 1.3079, 1.3105
Support Levels: 1.3010, 1.2987, 1.2965
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GBPUSD
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HIGH
1.54572
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LOW
1.54377
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BID
1.54487
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ASK
1.54490
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CHANGE
0.01%
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TIME
08:20:09
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Down
trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: Market formed gradual descending move however price appreciation is possible above the next resistance level at 1.5460 (R1). Break here is required to enable next attractive points at 1.5487 (R2) and 1.5516 (R3). Downwards scenario: Penetration below the support at 1.5427 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.5402 (S2) and 1.5380 (S3) might be triggered.
Resistance Levels: 1.5460, 1.5487, 1.5516
Support Levels: 1.5427, 1.5402, 1.5380
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USDJPY
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HIGH
101.197
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LOW
100.54
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BID
100.937
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ASK
100.942
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CHANGE
0.32%
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TIME
08:20:10
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Upward
penetration
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: USD/JPY continue its consolidation phase on the hourly chart. Possibility of uptrend evolvement is seen above the next resistance at 101.11 (R1). Violation here might increase bullish pressure and validate next intraday targets at 101.47 (R2) and 101.83 (R3). Downwards scenario: Further correction development is limited now to the session low - 100.56 (S1). If the price manages to surpass it we would suggest next intraday targets at 100.18 (S2) and 99.75 (S3).
Resistance Levels: 101.11, 101.47, 101.83
Support Levels: 100.56, 100.18, 99.75
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