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MARKET UPDATE 23.04.2012

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

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)

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%

AUDUSD
1.03383 / 390
NZDUSD
0.81589 / 601
USDCHF
0.91092 / 102
USDCAD
0.99378 / 386
GBPJPY
131.006 / 023
EURCHF
1.20155 / 168
GOLD
1642.00 / .28
SILVER
31.57 / .60
EURUSD 1.31897 / 1.31904
DAILY WEEKLY MONTHLY

1.3367

1.3313

1.3269

1.3214

1.3153

1.3102

1.3057

1.3000

SUMMARY

TREND

Up
trend

MA10

Neutral

MA20

Neutral

STOCHASTIC

Neutral

 

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).

GBPUSD 1.61166 / 1.61178
DAILY WEEKLY MONTHLY

1.6291

1.6247

1.6189

1.6143

1.6078

1.6009

1.5963

1.5909

SUMMARY

TREND

Up
trend

MA10

Bullish

MA20

Bullish

STOCHASTIC

Overbought

 

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.

USDJPY 81.286 / 81.292
DAILY WEEKLY MONTHLY

83.43

82.89

82.34

81.77

81.20

80.73

80.29

79.61

SUMMARY

Down

TREND

Down
trend

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

 

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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