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2012-02-29 07:00 GMT
Euro could rise on LTRO expectation
The euro rose 0.5 percent to $1.3458 at 5 p.m. in New York. It added 0.3 percent to 108.29 yen. The dollar weakened 0.2 percent to 80.46 yen.
The pound rose 0.5 percent to $1.5901 after reaching $1.5908, the strongest level since Feb. 8. The U.K. currency was little changed at 84.64 pence per euro.
USD/CHF consolidated around the 0.8950 zone, cutting back from an earlier high of 0.9000 on Tuesday reaching a session low of 0.8947, recording a 0.45% loss on the day as nearing the end of trading in the New York session.
Canada’s dollar, the loonie, appreciated 0.4 percent to 99.53 cents per U.S. dollar at 5 p.m. in Toronto. The currency, which reached 99.42 cents, the most since Feb. 21, has appreciated 2.6 percent this year. One Canadian dollar buys $1.0047.
The Aussie dollar climbed to a new weekly high of 1.0785 on Tuesday, stopping below that level stalling at 1.0764 in New York, circa 10 pips above the previous day’s close, ahead of the much-anticipated liquidity injection (LTRO) in Europe scheduled for announcement on Wednesday.
Read More
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2012-02-29 08:55 GMT
Germany
Unemployment Change (Feb)
2012-02-29 09:30 GMT
United Kingdom
Consumer Credit (Jan)
2012-02-29 10:00 GMT
EU - Consumer Price Index (YoY) (Jan)
2012-02-29 10:15 GMT
EU - ECB LTRO auction
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2012-02-29 05:02 GMT
Japan Housing Starts (YoY) -1.1% in Jan
2012-02-29 00:37 GMT
Australia: Jan Retail Sales +0.3%, as expected
2012-02-29 00:18 GMT
Australia: New Homes Sales disappoint at -7.3%
2012-02-29 00:02 GMT
UK - Gfk Consumer Confidence steadies at -29 in Feb
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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
Neutral
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MARKET ANALYSIS - Intraday Analysis
EURUSD after price formed top at 1.3486 (R1), price continued in sideways move between 1.3366 support and resistance at 1.3486. Right now it seems EURUSD is gaining momentum and we can expect probably price will be breaking above first resistance at 1.3486 (R1). Further rise above this level will then focus on 1.3542 (R2) resistance and if EURUSD holds its momentum, rise might be limited at 1.3586 (R3). On the other hand if the price manages to stay below 1.3486 we expect the pair to retest first support and then continue its sideways move.
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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
Neutral
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MARKET ANALYSIS - Intraday Analysis
GBPUSD made a sharp move upwards and confirmed our recommendations for long positions hitting successfully the second resistance level ending the day with 40 pips profit. 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 1.5937 (R1) a strong technical and psychological level as this level has been retested again in the past (beginning of February) without succeeding to break above it. A proper confirmation for the long positions will be when the price manages to break above the first resistance level of 1.5937 (R1). A stop loss should be placed above 1.5809 (S2).
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SUMMARY
Neutral
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TREND
Sideway
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MA10
Neutral
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MA20
Bearish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
The USDJPY fell from 81.66 (R2) and formed a lower top at 80.78 (R1) after which the price rebounded from 80.00 (S1). A break above the first resistance level of 80.78 (R1) would suggest a target and retest of 81.66 (R2). If the price holds its momentum on the upside we can expect a further rise towards 81.97 (R3). On the other hand, if the price does not manage to break above 80.78 (S1) we can expect the pair to retest support at 80.00 (S1) and a further fall will be limited to 79.35 (S2).
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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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