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MARKET UPDATE 13.02.2012

2012-02-13 08:00 GMT

EUR/USD spikes as Greek Parliament began counting 'austerity deal' votes

The euro rose 0.3 percent to $1.3239 as of 8:00 a.m. in Tokyo from last week's close in New York. The shared common currency gained 0.4 percent to 102.81 yen. The dollar fetched 77.66 yen from 77.61. USD/JPY opened the Asian session with a downside gap open of 77.54 on Monday, but then climbed to an early high of 77.66, recovering the early gap and Friday’s modest losses. EURUSD spiked over 40/45 pips as retail platforms opened, short covering squeeze then intensified. EUR/USD had opened the Asian session just above 1.3200, up from 1.3171 late Friday, the paring is edging higher into the 1.3230 area, resistance at 1.3258 (Nov low), support at 1.3197 (Dec high).

After retail platforms opened AUS/USD continued its upswing which began tentatively in the latter part of Friday's NY session reaching a high of 10724. Currently the pair is quoting at 10698 down 0.10% on the day. The loonie has fallen sharply (since retail platforms opened) versus the greenback. Although up on the day, by 0.04% at 10006 it fell to 9996 at circa 23:00 pm GMT. The psychological level of 10000 could prove to be an organic 'price magnet' for some time. This parity measure versus the greenback has been a crucial pivotal decision recently.

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2012-02-13 00:30 GMT

Australia Home Loans (Dec)

2012-02-13 07:00 GMT

Germany Wholesale Price Index (MoM) (Jan)

2012-02-13 07:00 GMT

Germany Wholesale Price Index (YoY) (Jan)

2012-02-13 08:15 GMT

Switzerland Producer and Import Prices (MoM) (Jan)

2012-02-13 05:59 GMT

USD/JPY rangebound around 77.60 ahead of Europe

2012-02-13 03:54 GMT

GBP/USD still bid amid CBI outlook

2012-02-13 01:07 GMT

EUR/USD retreats after run to 1.3260

2012-02-13 00:30 GMT

Australia Home Loans 2.3% in Dec

AUDUSD
1.07706 / 713
0.0099 0.93%
NZDUSD
0.83716 / 731
0.0109 1.32%
USDCHF
0.91034 / 046
-0.006 -0.65%
USDCAD
0.99786 / 796
-0.0035 -0.35%
GBPJPY
122.865 / 880
0.618 0.51%
EURCHF
1.20885 / 900
-0.0004 -0.03%
GOLD
1733.30 / .66
13.23 0.77%
SILVER
33.99 / .02
0.54 1.61%
EURUSD 1.32795 / 1.32801
DAILY WEEKLY MONTHLY
| Chg: 0.0082 0.62%

1.3394

1.3367

1.3322

1.3285

1.3206

1.3153

1.3096

1.3026

SUMMARY

up

TREND

up
trend

MA10

Bullish

MA20

bullish

STOCHASTIC

overbought

 

MARKET ANALYSIS - Intraday Analysis

The EURUSD fell and formed a bottom at 1.3153 (S2) after which the price rebounded and was able to break above Friday’s support at 1.3206 and it seems it will soon re-test a high at 1.3322. A break above the first resistance level of 1.3285 (R1) would suggest a target of 1.3322 (R2). If the price holds its momentum on the upside we can expect a further rise towards 1.3367 (R3). On the other hand, if the price does not manage to break above 1.3222 (R2) we can expect the pair to retest support at 1.3153 (S2) and a further fall will be limited to 1.3096 (S3).

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GBPUSD 1.58184 / 1.58193
DAILY WEEKLY MONTHLY
High: 1.58207 | Low: 1.57581 | Chg: 0.0068 0.43%

1.5961

1.5929

1.5885

1.5848

1.5757

1.5729

1.5700

1.5665

SUMMARY

Down

TREND

down
trend

MA10

Bullish

MA20

bullish

STOCHASTIC

neutral

 

MARKET ANALYSIS - Intraday Analysis

GBPUSD is forming lower tops, as it fell for 3 consecutive days after forming a high at 1.5929 (R3), and formed a strong support level at 1.5729 (S2). Following that we saw a correction towards 1.5799 and it seems the pair will re-test our support levels soon. A break below 1.5757 (S1) would suggest a target of 1.5729 (S2) and a further fall will then focus on the next target at 1.5700 (S3) a technical and psychological level. On the upside, if the price rebounds from the first support level we can expect retesting at 1.5848 (R2). A further rise will then bring focus to the next resistance level at 1.5885 (R2).

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USDJPY 77.671 / 77.676
DAILY WEEKLY MONTHLY
High: 77.779 | Low: 77.532 | Chg: 0.054 0.07%

78.98

78.67

78.28

77.80

77.25

76.83

76.49

76.25

SUMMARY

up

TREND

up
trend

MA10

Bullish

MA20

neutral

STOCHASTIC

neutral

 

MARKET ANALYSIS - Intraday Analysis

USDJPY gained momentum and formed higher bottoms and is now moving towards 77.80 (R1) a technical and psychological resistance level for the bulls. If the pair breaks above that level, can expect the price to retest 78.28 (R2). Be on the alert for a correction downwards towards 77.25 (S1) and then a continuation to an upward move. We believe that the bullish pressure will continue. Look for long positions in today's trading session.

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