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2012-04-23 07:00 GMT
EUR/USD steady below 1.3200
EUR/USD has been around the 1.3200 round mark up and down during Asian session, last at 1.3194, printing session lows at 1.3177 and highs at 1.3209, slightly below Friday's close. Local share markets trade in the red overall, with Nikkei index down by -0.19%.
For the London session ahead not many big risk events Euro related will come out but PMI figures, first French one at 07:00 GMT, followed by Germany one half hour later, and EU manufacturing PMI at 08:00 GMT, all of them expected to come slightly better than previous.
Investors are fleeing the Australian Dollar through the Asian session on a lower-than-expected Australian PPI print, which came at +1.4 YoY, -0.3 QoQ actual against 2.2%, 0.4% consensus, respectively.
The Australian Dollar had been trading sluggish in the lead-up to the event as equity markets turned from flat to red territory despite last Friday's risk appetite mood. The results make the case for an RBA rate cut in the next policy meeting even more likely now.
Read More
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2012-04-23 07:30 GMT
GermanyPurchasing Manager Index Manufacturing (Apr)
2012-04-23 07:30 GMT
GermanyPurchasing Manager Index Services (Apr)
2012-04-23 08:00 GMT
EU - Purchasing Manager Index Manufacturing (Apr)
2012-04-23 08:00 GMT
EU - Purchasing Manager Index Services (Apr)
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2012-04-23 05:03 GMT
Japan: Coincident Index (Feb): 95
2012-04-23 01:43 GMT
AUD/USD declines on Australia PPI data
2012-04-23 01:31 GMT
Australia 1Q Producer Price Index (QoQ) -0.3%
2012-04-23 01:30 GMT
Australia 1Q Producer Price Index (YoY) 1.4%
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SUMMARY
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TREND
Up trend
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MA10
Neutral
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MA20
Neutral
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STOCHASTIC
Neutral
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MARKET ANALYSIS - Intraday Analysis
EURUSD gained momentum in Friday’s session and formed a higher bottom and top, successfully penetrating Friday's resistance level. After that the price found a strong resistance at 1.3214 (R1) a strong technical level. We expect the price to move upwards but only a break above 1.3214 (R1) will give as a confirmation for long positions targeting 1.3269(R2) and further rise will then be limited at 1.3313 (R3). A stop loss should be placed above 1.3153 (S1).
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SUMMARY
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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
GBPUSD made a sharp move upwards and successfully broke above Fridays’s resistance level continuing the upward move. As long as it is above our first support level 1.6078 (S1), we can look for long positions targeting 1.6247 (S3). A stop loss should be placed at 1.6009 (S2) but the most conservative and tactical traders can hold and wait for the break above 1.6143 (R1) to open their long positions.
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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
Neutral
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MARKET ANALYSIS - Intraday Analysis
The USDJPY fell from 81.77 (R1) and formed a lower bottom at 81.25 after which the price rebounded from from that level. A break above the first resistance level of 81.77 (R1) would suggest a target and retest of 82.34 (R2). If the price holds its momentum on the upside we can expect a further rise towards 82.89 (R3). On the other hand, if the price does not manage to break above 81.77 (R1) we can expect the pair to retest support at 81.20 (S1) and a break below that level would suggest target at 80.73 (S2).
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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
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contained on this newsletter.
RISK WARNING: Trading in Forex and Contracts for Difference (CFDs) is highly speculative
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Forex and CFDs may not be suitable for all investors. Only invest with money you
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