FXCC
FXCC FXCC FXCC
FXCC FXCC FXCC FXCC FXCC FXCC FXCC FXCC FXCC
MARKET UPDATE 20.04.2012

2012-04-20 07:00 GMT

EUR/USD capped below 1.3150 ahead of German IFO business climate

EUR/USD kept on tightening its trading range once again during the Asia-Pacífic session in the last trading day of the week in the region, last at 1.3145, with session highs at 1.3154 and lows at 1.3128. Daily 14 ATR volatility indicator shows a record low reading since early December last year, indicative of the very thin range the pair has trade within this week, ahead of a pretty bussy next week. Local share markets trade with no exception in the red with Nikkei down by -0.39%. The London session ahead has a main risk even in the form of German Ifo Business Climate index, expected to come in line with previous, which will set the pace for EUR/USD at 08:00 GMT, till next key risk event follows thru at 12:30 GMT in the form of US CPI figures. IMF and G20 meetings also start today, with French first round elections to take place Sunday, and Sarkozy starting to feel the pain in the polls.

The EUR/AUD cross has touched a fresh 7-day high of 1.2736 this Friday in Asia, largely on the back of Aussie weakness after the export price index fell 7.0% in the first quarter versus expectations of a 0.2% decline, adding to views that Australia’s terms of trade are poised to cool in the months ahead. The pair is now at 1.2730 vs. 1.2714 late Thursday in New York, recording a modest 0.1% gain on the day, amid a relatively quiet session in FX. AUD/USD trades at 1.0320 vs 1.0322 before the release.

Read More

2012-04-20 08:00 GMT

Germany IFO - Business Climate (Apr)

2012-04-20 08:00 GMT

Germany IFO - Current Assessment (Apr)

2012-04-20 08:30 GMT

United Kingdom Retail Sales (YoY) (Mar)

2012-04-20 08:30 GMT

United Kingdom Retail Sales ex-Fuel (YoY) (Mar)

2012-04-20 04:22 GMT

GBP/USD trades quietly ahead of UK Retail Sales

2012-04-20 01:31 GMT

Australia Export Price Index (QoQ) -7% in 1Q

2012-04-20 01:30 GMT

Australia Import Price Index (QoQ) -1.2% in 1Q

2012-04-20 01:04 GMT

USD/JPY at weekly highs, resistance at 81.80

AUDUSD
1.03354 / 359
NZDUSD
0.81337 / 355
USDCHF
0.91369 / 379
USDCAD
0.99474 / 482
GBPJPY
130.983 / 000
EURCHF
1.20190 / 202
GOLD
1645.00 / .28
SILVER
31.82 / .85
EURUSD 1.31530 / 1.31534
DAILY WEEKLY MONTHLY

1.3314

1.3269

1.3214

1.3153

1.3057

1.3000

1.2957

1.2905

SUMMARY

Neutral

TREND

Neutral

MA10

Bullish

MA20

Bullish

STOCHASTIC

Neutral

 

MARKET ANALYSIS - Intraday Analysis

EURUSD didn’t made any significant moves yesterday as it traded in a trading range between 1.3153 (R1) and 1.3057 (S1) level. The only difference from the last trading session is that the pair is moving just below the first resistance level. We remain flat on EURUSD until we see a clear break out and in which direction it will move to develop an uptrend or a downtrend with more reliable support and resistance levels. No position.

GBPUSD 1.60647 / 1.60658
DAILY WEEKLY MONTHLY

1.6245

1.6178

1.6129

1.6072

1.6009

1.5963

1.5909

1.5858

SUMMARY

TREND

Up
trend

MA10

Bullish

MA20

Bullish

STOCHASTIC

Neutral

 

MARKET ANALYSIS - Intraday Analysis

The GBPUSD formed a top on yesterday’s session at 1.6072 (R1) and then fell forming a new low at 1.6009. Now it seems it is moving away from this level to retest the resistance levels. A break above 1.6072 (R1) would suggest a target of 1.6129 (R2) and a further rise will then focus on the next target at 1.6178 (R3). On the downside, if the price breaks below the first support level of 1.6009 (S1) we can expect retesting of 1.5963 (S2). A further decline will then bring focus to the next support level at 1.5909(S3).

USDJPY 81.536 / 81.538
DAILY WEEKLY MONTHLY

82.67

82.13

81.87

81.69

81.39

81.13

80.73

80.29

SUMMARY

TREND

Up
trend

MA10

Bullish

MA20

Bearish

STOCHASTIC

Neutral

 

MARKET ANALYSIS - Intraday Analysis

The USDJPY fell from 81.75 and formed a lower top at 81.69(R1) after which the price rebounded from 81.39 (S1). A break above the first resistance level of 81.69 (R1) would suggest a target of 82.13 (R3). If the price holds its momentum on the upside we can expect a further rise towards 82.67 (R4). On the other hand, if the price does not manage to break above 81.69 (S1) we can expect the pair to retest support at 81.39 (S1) and a further fall will be limited to 81.13 (S2).

MARKET INFORMATION AND OPINIONS: Any information provided by FXCC on this newsletter, including but not limited to news, research, opinions, analyses and prices, is provided as commentary on the Forex market generally -- in other words, it is not, and should not be considered as, investment advice. Consequently, FXCC shall not be liable for any loss or damage, including but not limited to loss of profits, which arises directly or indirectly from reliance upon or use of information contained on this newsletter.

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.