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MARKET UPDATE 30.07.2012

2012-07-30 06:21 GMT

Asian markets rise on hopes for Eurozone action

The week is starting higher, with the Asian markets on the “green” as the Fed, ECB and BoE prepare a new round of policy decisions and the respective announcement. Japan’s Nikkei Stock Average (+0.55%), South Korea’s Kospi (+0.79%), Australia’s S&P/ASX 200 (+0.95%), Hong Kong’s Hang Seng (+1.50%) edged higher, following the market mood triggered by news of action to be taken by the ECB/EFSF to tackle the debt crisis and pressure over Spain and Italy.

Futures for the German DAX 30 and French CAC 40 are signaling a lower open by -0.40% in a corrective movement from Friday’s rally. Spain and Italy will be selling debt during the European session, including Italian 10-year bonds. WTI crude oil trades at 90.33 (+0.25%) and Gold is quoting at 1618 (-0.30%).

Read More

2012-07-30 08:30 GMT

UK - Consumer Credit (Jun)

2012-07-30 09:00 GMT

EMU - Consumer Confidence (Jul)

2012-07-30 10:00 GMT

UK - CBI Distributive Trades Survey (Jul)

2012-07-30 14:30 GMT

US - Dallas Fed Manufacturing Business Index (Jul)

2012-07-30 06:35 GMT

GBP/USD in red ahead of UK data

2012-07-30 05:56 GMT

EUR/USD hovering over 1.2300

2012-07-30 04:20 GMT

EUR/JPY hovers around 95.50, below 21 EMA

2012-07-30 03:31 GMT

EUR/USD may attempt rally towards 1.25 this week - UBS

AUDUSD
1.04630 / 634
NZDUSD
0.80818 / 826
USDCHF
0.97820 / 829
USDCAD
1.00497 / 502
GBPJPY
123.011 / 022
EURCHF
1.20099 / 104
GOLD
SILVER
27.59 / .61
EURUSD 1.22768 / 1.22771
DAILY WEEKLY MONTHLY

1.2522

1.2424

1.2332

1.2241

1.2172

1.2075

SUMMARY

TREND

Downward
penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

 

MARKET ANALYSIS - Intraday Analysis

The pair formed fresh high at 1.2390 on Friday and consolidated on the Asian session today. The main trend direction on the medium term is Bullish. Main tendency development is possible above our next resistance level at 1.2332 (R1). Further appreciation might then be limited by 1.2424 (R2) and 1.2522 (R3) levels. The downside movement is protected by next support at 1.2241 (S1). Confident surpassing of this level will open road to the target at 1.2172 (S2).

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GBPUSD 1.56971 / 1.56974
DAILY WEEKLY MONTHLY

1.5893

1.5834

1.5768

1.5666

1.5591

1.5523

SUMMARY

TREND

Downward
penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

 

MARKET ANALYSIS - Intraday Analysis

Today in focus UK Mortgage Approvals release at 08:30 GMT in the European trading session. From the technical side further upside trend development is the main scenario however correction is possible. Breaking out of next resistance level at 1.5768 (R1) would suggest next targets at 1.5834 (R2) and 1.5893 (R3). Loss of our support at 1.5666 (S1) would suggest next target at 1.5591 (S2). Further retracement is limited by last support level at 1.5523 (R3) intraday.

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USDJPY 78.362 / 78.366
DAILY WEEKLY MONTHLY

79.05

78.87

78.68

78.26

78.06

77.86

SUMMARY

TREND

Downward
penetration

MA10

Bearish

MA20

Bullish

STOCHASTIC

Overbought

 

MARKET ANALYSIS - Intraday Analysis

After the few days moving in sideways Instrument made an attempt on Friday to go higher and formed fresh high at 78.68, currently our next resistance level. Today pair might try to retest this level later on today. A break above the resistance level at 78.68 (R1) would suggest next target at 78.87 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 79.05 (R3). On the other hand, if the price does not manage to break above 78.68 (R1) we can expect the pair to retest support at 78.26 (S1) and a further fall will be targeted at 78.06 (S2) and 77.86 (S3), the final one for today.

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