2012-03-29 07:00 GMT
EUR/USD flat in Asia
EUR/USD is trading now at 1.3319 exactly same opening price started Asian session, in the middle of a 25 pip range 1.3307/1.3332. With not much change since late NY, there is a clear ask line at 1.3332 limiting the upside, while downside has been pretty much contained as well despite risk-off mode during the Asian trade, with local share markets overall in the red, Nikkei losing -0.67%. GBP/USD has so far traded up to a session high of 1.5907 in Asia, extending the overnight bounce from ascending trendline support at 1.5840 - taken from the 1.5700 and 1.5800 troughs - and is now hovering around the 1.5900 handle, up 15 pips on the day.
The combination of Yen shorts bailing themselves out of stale long positions coupled with an acceleration in Aussie bears continues to damage the AUD/JPY, which has seen the rate dive from 86.06 NY close all the way down to currently approach 85.63, yesterday's low. Current price stays at 85.76, day lows.
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2012-03-29 07:55 GMT
Germany
Unemployment Rate s.a. (Mar)
2012-03-29 08:30 GMT
United Kingdom
Mortgage Approvals (Feb)
2012-03-29 09:00 GMT
European Monetary Union
Economic Confidence (Mar)
2012-03-29 09:00 GMT
European Monetary Union
Industrial Confidence (Mar)
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2012-03-29 04:31 GMT
GBP/USD hovers around 1.5900
2012-03-29 01:11 GMT
AUD/JPY long squeeze picks up, 85.63 low in sight
2012-03-29 00:58 GMT
AUD/USD drops, finds support at 1.0360
2012-03-29 00:01 GMT
New Zealand Business Confidence increase to 33.8 in Mar
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SUMMARY
Neutral
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TREND
Sideway
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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
The EURUSD formed a high at 1.3382 (R1) retesting for second time the upper level without managing to break above it as a result the price to trap in a trading range between 1.3382 (R1) and 1.3276 (S1). Yesterday the price retested and bounced from the lower boundary and now it seems that is trading in the middle of the channel. As far as the price is moving between these levels we remain flat. Our recommendation for today’s trading session is no position as we do not have a clear trend direction.
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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 fell and formed a bottom at 1.5842 (S1) and now it seems that is heading towards 1.5940 (R1). A break above that level, would suggest target at 1.6000 (R2) a strong technical level for the bulls as a break above it will then focus on 1.6051 (R3). A stop loss should be placed at 1.5878.
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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 formed a new low at 82.54 and it is moving downwards. A break below 82.54 (S1) would suggest target at 81.97 (S2) and further fall will then be limited at 81.41 (S3). Look for short positions in today’s trading session as both of our Moving Averages 10 - 20 turned bearish and the pair is under bearish pressure.
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