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MARKET UPDATE 15.08.2012

2012-08-15 04:38 GMT

EUR little moved with half Europe closed on holidays

EUR/USD has just had another quiet and slow Asia-Pacific trading session, last at 1.2323, slightly above opening and session lows price at 1.23156, and below session highs at 1.2332, thus counting for a 16 pip range trading session. Nothing too exciting. The pair comes from a weekly high yesterday at 1.2385 following better than expected German prelim GDP, and holding above yesterday's lows and support at 1.2320. Local share markets are over all in the red, with Nikkei index below the 8900 points down -0.60%.

London session ahead will have to deal with half Europe closed on holidays, and no EUR macro data related at all, not even EZ sovereign debt auctions, and only UK unemployment figures coming out due at 08:30 GMT, which could bring volatility to the EUR/GBP cross. According to VIX, index that measures volatility in SP500 index put options, it is reading at a 5 year lows, which in some way shows how these markets are lacking movement as of late. European futures point to a lower open, according to Bloomberg. (fxstreet.com

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2012-08-15 08:30 GMT

United Kingdom. Bank of England Minutes

2012-08-15 12:30 GMT

United States. Consumer Price Index (Jul)

2012.08.15 13:15 GMT

United States. Industrial Production (Jul)

2012.08.15 14:30 GMT

United States. EIA Crude Oil Stocks change (Aug 10)

2012-08-15 04:37 GMT

GBP/USD investors await further cues, BoE eyed

2012-08-15 03:56 GMT

GBP/AUD erases all Aug losses back above 1.49

2012-08-15 03:51 GMT

GBP/JPY consolidating after overnight gains

2012-08-15 02:07 GMT

WSJ story adds pressure on Aussie longs

AUDUSD
1.04749 / 754
NZDUSD
0.80519 / 530
USDCHF
0.97410 / 419
USDCAD
0.99178 / 184
GBPJPY
123.509 / 523
EURCHF
1.20117 / 123
GOLD
1602.42 / .70
SILVER
27.86 / .88
EURUSD 1.23303 / 1.23307
DAILY WEEKLY MONTHLY

1.2445

1.2405

1.2385

1.2310

1.2295

1.2270

SUMMARY

Down

TREND

Down
trend

MA10

Bearish

MA20

Bearish

STOCHASTIC

Oversold

 

MARKET ANALYSIS - Intraday Analysis

United States Consumer Price Index release at 08:30 GMT is the next macroeconomic data in focus. Next resistance level holds at 1.2385 (R1) level. Clearance here is required for instrument strengthening, next expected target at 1.2405 (R2). Further price appreciation would then be limited by last resistance level for today at 1.2445 (R3). On the other hand, possible price decline might arise below the next support level at 1.2310 (S1). We suggest next target at 1.2295 (S2), successful brake here would enable next target for today at 1.2270 (S3).

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GBPUSD 1.56746 / 1.56752
DAILY WEEKLY MONTHLY

1.5805

1.5765

1.5725

1.5600

1.5570

1.5535

SUMMARY

TREND

Up
trend

MA10

Bullish

MA20

Bearish

STOCHASTIC

Oversold

 

MARKET ANALYSIS - Intraday Analysis

Bank of England minutes at 08:30 GMT might bring additional volatility to the markets. Our next resistance level locates today at 1.5725 (R1). Break above that level would suggest target at 1.5765 (R2), technical level for the Bulls. Rise above it will then focus on 1.5805 (R3), last resistance level. For the downside development, fall below next support level at 1.5600 (S1) would open way for the next expected target at 1.5570 (S2). Further easing might face final support at 1.5535 (S3) level.

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USDJPY 78.793 / 78.798
DAILY WEEKLY MONTHLY

79.39

79.05

78.90

78.35

78.16

77.99

SUMMARY

TREND

Up
trend

MA10

Bullish

MA20

Bullish

STOCHASTIC

Overbought

 

MARKET ANALYSIS - Intraday Analysis

USDJPY remains to be traded in a range mode. Possible trend development is seen above next resistance level at 78.90 (R1). Break here is required to open way for further appreciation with next targets at 79.05 (R2) and 79.39 (R3) in extension. On the other hand, price decline towards to our support levels at 78.35 (S1) could trigger further Bearish pressure targeting our next support level at 78.16 (S2). A break below it would suggest last target for today at 77.99 (S3).

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