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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
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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
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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
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SUMMARY
Up
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TREND
Up trend
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Overbought
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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).
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SUMMARY
Up
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TREND
Up trend
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Overbought
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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).
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SUMMARY
Up
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TREND
Downward penetration
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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
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.
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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.
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