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2012-07-16 05:36 GMT
US to face huge eco data risks this week
Asian markets will be exceptionally quiet next week. Only a pair of central bank minutes are due out - one from the RBA on Monday and the other from the BoJ on Tuesday — and will be parsed for clues regarding recent and future expected policy actions in the wake of stimulus measures provided by both central banks.
European markets will be relatively more subdued in terms of risk influences upon markets in comparison to developments in the US. Italy is expected to approve the ESM apparatus and fiscal pact.
US markets will face enormous risk on each of the corporate earnings, policy, and economic fundamentals calendars next week. Data risk will kick off the week with retail sales expected to come in largely flat on Monday.
Read More
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2012-07-16 09:00 GMT
EMU - Consumer Price Index (June)
2012-07-16 12:30 GMT
Canadian portfolio investment in foreign securities
2012-07-16 12:30 GMT
US - Retail Sales (Jun)
2012-07-16 14:00 GMT
US - Business Inventories (May)
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2012-07-15 22:42 GMT
Market response to Bernanke could be savage - NAB
2012-07-15 22:22 GMT
AUD/USD quiet around 1.0250, eyes 0.618 Fibo resistance
2012-07-15 22:16 GMT
ECB views on bondholders losses makes a 'risk-off' turn
2012-07-15 22:02 GMT
China has 'relatively big' room to cut RRR - Xinhua
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SUMMARY
Down
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TREND
Down trend
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
Technicals continue to read bearish, with a new 2-year low and all signals in sell territory. However, the RSI at 36 warns of EUR approaching oversold levels. Stochastic has crossed over into oversold territory, indicating that this pair could see an upward correction in the near future. The pair has reached its minimum in the last two years, having fallen from a peak of 1.2247 reaching its lowest level at 1.2165. If today the pair is able to break the key support at 1.2165, the next level is 1.2150, while breaking the 1.2250 resistance may postpone the attainment of these expectations. If it is successfully pushed back down then it could fall to the 1.2125; if, however, it breaks out higher than it would rally to 1.2300.
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SUMMARY
Neutral
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TREND
Up trend
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
Technicals are neutral and confused after Friday's surges in prices expect a rally to the.382 Fibonacci at 1.5595 and then a move back to the S5 at 1.5400. A break up would target the 1.5700. Most long-term technical indicators place this pair in neutral territory, meaning that at present there is no defined trend. Most likely the pair will try to test support at 1.5570, while breaking the level of 1.5575 would delay the realization of these expectations.
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SUMMARY
Down
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TREND
Down trend
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MA10
Bearish
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MA20
Bearish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
Technicals are bearish - trading towards the lower end of recent range, with support at 200 day MA 79.03, Price is currently at 79.10 sitting right on the support line, just below the .500 Fibonacci at 79.17 in a sideways choppy move. A break of this will confirm the move to 79.00. A breakdown there looks for the double bottom at 77.67 but before we could see a move toward 78.80. While the daily chart's MACD/MA has formed a bearish cross, indicating that this pair could see downward movement in the near future, most other technical indicators show this pair range-trading. Just a reminder, Japanese markets are on holiday today.
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on this newsletter, including but not limited to news, research, opinions, analyses
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