FXCC Market Update 26-03-2012

MARKET UPDATE

26.03.2012

2012-03-26 07:00 GMT

GBP/USD threatening to test bids below 1.5850

GBP/USD dropped from an earlier high of 1.5880 to a recent session low of 1.5850 ahead of the European opening, last quoted near the bottom of the range at 1.5855, recording a 0.9% loss so far this Monday.USD/JPY held firm on Monday in the Asia-Pacific, trading up to 82.76 from 82.40 past Friday, last at 82.68, up 0.4% on the day. Technically speaking, overall, the pair is retreating from recent multi-month highs in the 84.15 zone and may be looking to correct lower.UR/USD is currently breaking to fresh session lows last at 1.3259, lower from previous weekly close past Friday 10 pips above, with session highs at 1.3285

GBP/JPY is currently at 131.28, near session highs 10 pips above, and still below Friday's highs at 131.50. The cross is up +0.45% since last week's close, with Cable slightly lower from same close, and USD/JPY at session highs above 82.50.

2012-03-26 08:00 GMT

Germany IFO - Business Climate (Mar)

2012-03-26 08:00 GMT

Germany IFO - Current Assessment (Mar)

2012-03-26 08:00 GMT

Germany IFO - Expectations (Mar)

2012-03-26 n/a

United Kingdom Nationwide Housing Prices n.s.a (YoY)

2012-03-26 02:11 GMT

GBP/JPY near session highs above 131.20

2012-03-26 02:02 GMT

AUD/USD back below 1.0450

2012-03-26 00:46 GMT

GBP/USD capped below 1.5880 in Asia

2012-03-26 00:12 GMT

USD/JPY inching higher, hits 82.70

AUDUSD
1.04451 / 460

NZDUSD
0.81549 / 569

USDCHF
0.90917 / 931

USDCAD
0.99830 / 841

GBPJPY
131.049 / 070

EURCHF
1.20522 / 539

GOLD
1663.75 / .02

SILVER
32.18 / .21

EURUSD 1.32552 / 1.32558

DAILY

WEEKLY

MONTHLY

1.3441

1.3382

1.3325

1.3284

1.3220

1.3177

1.3133

1.3048

SUMMARY

TREND

Up
trend

MA10

Bullish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS - Intraday Analysis

EURUSD formed a high at 1.3284 (R1) profiting on all our targets recommended in yesterday’s analysis gaining a total of 71 pips!! After that the pair fell and it now seems that it is going to retest 1.3284 (R1) soon, a level that have been retest 3 times in the past (March). A break above that level will be suggesting target at 1.3325 (R2) and further rise will then be limited at 1.3382 (R3). On the other hand if price manage to break below 1.3220 (S1) we will then expect the price to retest 1.3177 (S2) and then further fall will then approach towards 1.3133(S3).

GBPUSD 1.58548 / 1.58562

DAILY

WEEKLY

MONTHLY

1.6054

1.6013

1.5968

1.5913

1.5817

1.5769

1.5728

1.5654

SUMMARY

TREND

Up
trend

MA10

Bullish

MA20

Bullish

STOCHASTIC

Neutral

MARKET ANALYSIS - Intraday Analysis

The GBPUSD rise and retested for third time our resistance level at 1.5913 (R1) without succeeding to break above it ending our day with half portion of profits (41 pips). We except the price to continue its upward move as it is under bullish pressure at the moment (both of our MA are bullish) and it seems to be breaking above 1.5913 (R1) a strong technical and psychological level. A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 1.5913 (R1) targeting 1.5968 (R2). A stop loss should be placed below 1.5860.

USDJPY 82.654 / 82.660

DAILY

WEEKLY

MONTHLY

84.69

84.18

83.44

83.00

82.32

81.94

81.51

81.08

SUMMARY

Down

TREND

Down
trend

MA10

Bullish

MA20

Bullish

STOCHASTIC

Oversold

MARKET ANALYSIS - Intraday Analysis

USDJPY fell sharply and formed a strong support level close to 81.94 (S2). Following that the price rebounded and broke above our Friday’s support and now is moving between that level and 83.00 level. A break above that level we suggest further rise towards 83.44 (R2) and further rise will then focus on next target at 84.18 (R3). On the other hand if the price manages to stay below our first resistance level of 83.00 (R1) then we expect the price to retest 82.32 (S1) and a break below that level then the expected target is at 81.94 (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.