|
|
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
|
|
|
|
|
|
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.
|
|
|
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).
|
|
|
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.
|
|