|
|
|
|
2012-12-11 07:10 GMT
Silvio Berlusconi Makes Trouble For EURUSD Bulls
Although the single currency is higher on the day, it’s abundantly clear that the recent resignation by Italian Prime Minister Mario Monti is keeping Euro bulls at bay. The prime minister is now scheduled to step down following the 2013 budget vote taking place before the end of the year – instead of serving till April of next year. The announcement changes the political landscape of the largest of the troubled peripheral nations, and will likely add to recent pessimism when it comes to the single currency.
However, with public discontent over recent austerity and tax increases rising, many of Monti’s previous allies have fallen away. In particular, former Prime Minister Silvio Berlusconi and his People of Freedom (PDL) party, have become disenchanted with the current administration. The sentiment was heightened last week when representatives of the PDL walked out of an economic reform vote – calling for a vote of no-confidence in the prime minister. The notion was unfortunately backed by several other members of the Democratic Party – Monti’s major backer in the political arena.
With Monti’s final resignation to come in the next few weeks, it will be up to Italian President Giorgio Napolitano to dissolve parliament, and either appoint a successor or keep Monti as the country’s PM. General elections will follow, placing the date somewhere in February 2013 at the earliest. - FXstreet.com
|
|
2012-12-11 10:00 GMT
Germany.ZEW Survey - Economic Sentiment (Nov)
2012-12-11 13:30 GMT
USA.Trade Balance (Oct)
2012-12-11 23:30 GMT
Australia.Westpac Consumer Confidence (Dec)
2012-12-11 23:50 GMT
Japan.Machinery Orders (YoY) (Oct)
|
2012-12-11 04:59 GMT
AUD/USD strengthens on China data
2012-12-11 04:42 GMT
EUR/USD breaking to fresh session highs on better than expected China data
2012-12-11 03:55 GMT
GBP/JPY bears defending 132.50
2012-12-11 01:20 GMT
EUR/AUD on fresh session highs following bad Aussie confidence data
|
|
|
|
|
|
EURUSD
|
HIGH
1.29622
|
LOW
1.29287
|
BID
1.29597
|
ASK
1.29601
|
CHANGE
0.15%
|
TIME
08:05:06
|
|
|
|
|
OUTLOOK SUMMARY
Up
|
TREND CONDITION
Downward
penetration
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
Low
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.2968 (R1). Immediate focus comes on 1.2981 (R2) and 1.2996 (R3) in such scenario.
Resistance Levels: 1.2968, 1.2981, 1.2996
Support Levels: 1.2905, 1.2891, 1.2877
|
|
GBPUSD
|
HIGH
1.60873
|
LOW
1.6069
|
BID
1.60870
|
ASK
1.60879
|
CHANGE
0.08%
|
TIME
08:05:07
|
|
|
|
|
OUTLOOK SUMMARY
|
TREND CONDITION
Downward
penetration
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
Low
|
|
|
|
The initial uptrend formation was resumed later today. Possible targets are located at 1.6094 (R2) and 1.6102 (R3), in case of successful penetration above the next resistance level at 1.6087 (R1).
Resistance Levels: 1.6087, 1.6094, 1.6102
Support Levels: 1.6063, 1.6052, 1.6042
|
|
USDJPY
|
HIGH
82.437
|
LOW
82.305
|
BID
82.310
|
ASK
82.315
|
CHANGE
-0.06%
|
TIME
08:05:08
|
|
|
|
|
OUTLOOK SUMMARY
Sideway
|
TREND CONDITION
Sideway
|
TRADERS SENTIMENT
Bearish
|
IMPLIED VOLATILITY
Low
|
|
|
|
USD/JPY trades in non-directional basis on the medium term perspective. Further price decrease is expected below the next support level at 82.28 (S1). Break here is required to enable next targets at 82.20 (S2) and 82.14 (S3).
Resistance Levels: 82.44, 82.50, 82.56
Support Levels: 82.28, 82.20, 82.14
|
|
|
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.
|
|
