2012-04-30 07:00 GMT
EURUSD trapped in Trading Range
EUR/USD is currently at 1.3249, near the upper bound of the tiny range the pair has traded into this Monday in Asia-Pacific, with main markets Japan and China closed for Golden Week holiday. US and European share markets point for a marginal higher open, according to their futures.
For the London session ahead agenda shows German retail sales at 06:00 GMT as EUR macro data related, followed by EU M3 money supply and private loans at 08:00 GMT and CPI figures at 09:00 GMT, as well as short term sovereign debt auctions from France along the European morning.
Despite the Bank of Japan expanded its QE program by JPY5trn to JPY70trn last Friday in Asia, an outcome in line with expectations, the measure seems to have underwhelmed the market, which continues to buy the Yen ignoring the recent aggressive monetary easing.
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2012-04-30 08:00 GMT
European Monetary Union
M3 Money Supply (3m) (Mar)
2012-04-30 08:00 GMT
European Monetary Union
M3 Money Supply (YoY) (Mar)
2012-04-30 09:00 GMT
European Monetary Union
Consumer Price Index (YoY)
2012-04-30 09:00 GMT
Italy
Consumer Price Index (YoY) (Apr) Preliminar
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2012-04-30 01:31 GMT
Australia Mar Private Sector Credit (YoY) 2.3%
2012-04-30 00:31 GMT
Australia Apr TD Securities Inflation (YoY) 1.9%
2012-04-30 00:30 GMT
Australia TD Securities Inflation (MoM) 0.3% in Apr
2012-04-30 00:30 GMT
GBP/USD quiet near 7-month highs
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SUMMARY
Neutral
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TREND
Sideway
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MA10
Bullish
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MA20
Bullish
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STOCHASTIC
Oversold
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MARKET ANALYSIS - Intraday Analysis
The EURUSD found a strong support at 1.3171 (S1) and moved upwards breaking above our resistance levels. We expect the price to continue its move upwards as this is supported by the fact that both of our Moving Averages are bullish and are providing a strong support just above previous low. Look for long positions at 1.3269 targeting second resistance level at 1.3324 (R2).
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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
Neutral
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MARKET ANALYSIS - Intraday Analysis
GBPUSD gained momentum and formed higher bottoms successfully penetrating Friday's resistance levels. We expect the price to continue its upwards move targeting 1.6345 (R1) and further rise will then be limited at 1.6389 (R2).
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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
Oversold
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MARKET ANALYSIS - Intraday Analysis
USDJPY fell sharply and formed a strong support level close to 80.00 level. Look for short positions at current level targeting 79.54 (S1) and further fall will then focus on next support level at 79.05 (S2). A stop loss should be placed at 80.65 (R1).
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