FXCC
FXCC FXCC FXCC
FXCC FXCC FXCC FXCC FXCC FXCC FXCC FXCC FXCC
MARKET UPDATE 21.09.2012

2012-09-20 20:36 GMT

EU and Spanish authorities working on bailout program - FT

EU authorities are presumably, according to FT reporters Peter Spiegel and Miles Johnson, working behind closed doors on a an aid package to Spain as well as preparing for an open-ended bond purchases program by the ECB. Brussels is reportedly helping Madrid to tweak an economic reform plan thought to be announced next week, the FT reports. "According to officials involved in the discussions, talks between the Spanish government and the European Commission are focusing on measures that would be demanded by international lenders as part of a new rescue programme, ensuring they are in place before a bailout is formally requested. The plan will focus on structural reforms to the Spanish economy."

London session ahead will lack any major risk event related to EUR, including sovereign debt auctions, as usual on Fridays, whit EZ periphery troubled countries yields at more reasonable levels, with Spanish 10y at 5.87%.

Read More

2012-09-21 07:30 GMT

Switzerland. SNB Quarterly Bulletin (Sep 21)

2012-09-21 08:30 GMT

United Kingdom. Public Sector Net Borrowing (Aug)

2012-09-21 12:30 GMT

Canada. Consumer Price Index (YoY) (Aug)

2012-09-21 16:40 GMT

United States. Fed's Lockhart speech

2012-09-21 03:32 GMT

AUD/USD bid above 1.0450, Asian stocks support

2012-09-21 02:46 GMT

EUR/USD should see larger correction - DailyFX

2012-09-21 02:38 GMT

AUD/JPY limited below 82.00

2012-09-21 00:57 GMT

USD/JPY slightly boosted, ticks above 78.30

AUDUSD
1.04724 / 727
NZDUSD
0.83050 / 057
USDCHF
0.93191 / 203
USDCAD
0.97411 / 420
GBPJPY
127.040 / 059
EURCHF
1.21020 / 037
GOLD
1772.16 / .44
SILVER
34.78 / .81
EURUSD 1.29865 / 1.29867
DAILY WEEKLY MONTHLY

1.3078

1.3045

1.3012

1.2967

1.2932

1.2895

SUMMARY

Up

TREND

Up
trend

MA10

Bullish

MA20

Bullish

STOCHASTIC

Overbought

 

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Market continued correction yesterday and exposed our target at 1.2945. Main tendency remains positive and we expect further appreciation later on today. Main scenario: Potential of going higher is seen above the next resistance at 1.3012 (R1), surpassing of this level would suggest next targets at 1.3045 (R2) and 1.3078 (R3). Alternative scenario: If it fail to go higher, we might see further retracement development below the support at 1.2967 (S1) with next target in focus at 1.2932 (S2). Final target locates at 1.2895 (S3).

-

GBPUSD 1.62542 / 1.62551
DAILY WEEKLY MONTHLY

1.6347

1.6311

1.6276

1.6232

1.6197

1.6163

SUMMARY

Up

TREND

Up
trend

MA10

Bullish

MA20

Bullish

STOCHASTIC

Overbought

 

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Currently Instrument appreciates by 0.3% and looks set for further gains later on today. On the slightly longer term formation of the correction is reasonable.Main scenario: Key resistance level locates at 1.6276 (R1), break here is required for uptrend formation targeting 1.6311 (R2) and 1.6347 (R3) in potential. Alternative scenario: Development of the pull back is possible below the next support level at 1.6232 (S1). A break here would suggest next target at 1.6197 (S2) and any further fall would then be targeting 1.6163 (S3).

-

USDJPY 78.161 / 78.163
DAILY WEEKLY MONTHLY

78.71

78.54

78.38

78.01

77.85

77.69

SUMMARY

Up

TREND

Downward
penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Oversold

 

MARKET ANALYSIS - Intraday Analysis

Technical Summary: Instrument stabilized after the previous day’s losses and trades in a narrow channel without priority in direction on the hourly chart. In such situation we suggest waiting for a clear break out of important levels prior taking any positions. Main scenario: While medium term bias is negative we expect the break of next support level at 78.01 (S1) first. Next targets locates at 77.85 (S2) and 77.69 (S3) Alternative scenario: Possibility of the USDJPY strengthening is seen above the resistance at 78.38 (R1), targeting resistances at 78.54 (R2) and 78.71 (R3) in potential.

-

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.