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2013-07-31 03:33 GMT
The world awaits the FOMC decision and statements
Unlike many of the recent Fed meetings, Today’s meeting will feature only the FOMC’s decision and accompanying statement – but still the world is watching. Today’s interest rate decision will only be accompanied by their official statement regarding their decision. Traders and analysts are hoping for more guidance on the Fed’s plans regarding their bond buying program.
A month ago, the dreaded “tapering” word was making the rounds and interest rates were flying and stocks were correcting. However, Ben Bernanke subsequently put risk bulls’ minds at ease by indicating that the current QE efforts would likely continue unabated for the foreseeable future. So, any hint Wednesday about their plans could push rates and the US Dollar in one direction or the other. he US Dollar has been on the decline ever since Bernanke made his market-moving comments early in July. Technicians say that major “correction support” for the DXY can come in anywhere from 81.63 to 81.13 and possibly even down to 80.71 – depending on how one draws Fibonacci projection lines. Resistance for DXY comes in at 81.94, the 7/23 close, and is followed by the 7/24 peak at 82.42.- FXstreet.com
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2013-07-31 09:00 GMT
EMU. Consumer Price Index - Core (YoY)
2013-07-31 12:30 GMT
USA. Gross Domestic Product Annualized (Q2)
2013-07-31 18:00 GMT
USA. Fed Interest Rate Decision
2013-07-31 18:00 GMT
USA. Fed's Monetary Policy Statement and press conference
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2013-07-31 04:43 GMT
Today is the big day, USD to be pressured - SocGen
2013-07-31 04:29 GMT
FOMC client survey results; most hold USD longs - Nomura
2013-07-31 04:25 GMT
NZD/USD holding above 0.7950 while capped below 0.80
2013-07-31 04:04 GMT
USD to strengthen as 'dovish' Fed priced in - RBS
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EURUSD
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HIGH
1.3268
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LOW
1.32517
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BID
1.32572
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ASK
1.32577
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CHANGE
-0.04%
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TIME
08:46:29
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OUTLOOK SUMMARY
Neutral
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TREND CONDITION
Sideway
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
High
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: All supports and resistances remains the same today. Mark at 1.3273 (R1) acts as next resistive barrier on the way if the pair keeps it upside potential. Break here is required to achieve higher targets at 1.3288 (R2) and 1.3304 (R3) later on today.
Downwards scenario: On the other side, depreciation below the support at 1.3247 (S1) might shift short-term tendency to the bearish side and validate our intraday targets at 1.3232 (S2) and 1.3217(S3).
Resistance Levels: 1.3273, 1.3288, 1.3304
Support Levels: 1.3247, 1.3232, 1.3217
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GBPUSD
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HIGH
1.52434
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LOW
1.52185
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BID
1.52244
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ASK
1.52250
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CHANGE
-0.09%
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TIME
08:46:30
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Down
trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
High
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Upwards scenario: Instrument gained momentum on the downside recently, turning short-term bias to the negative side. Though, upwards penetration above the resistance at 1.5252 (R1) might enable bullish forces and expose our initial targets at 1.5267 (R2) and 1.5282 (R3).
Downwards scenario: On the other side, depreciation below the support barrier at 1.5215 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.5205 (S2) and then 1.5186 (S3).
Resistance Levels: 1.5252, 1.5267, 1.5282
Support Levels: 1.5215, 1.5205, 1.5186
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USDJPY
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HIGH
98.162
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LOW
97.847
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BID
98.019
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ASK
98.020
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CHANGE
-0.01%
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TIME
08:46:31
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Sideway
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
High
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Upwards scenario: Possible volatility increase might commence new phase of downtrend extension either prolong retracement formation on the hourly chart frame. Price appreciation above the resistance at 98.23 (R1) would suggest intraday targets at 98.44 (R2) and 98.65 (R3).
Downwards scenario: On the downside, next on tap is seen support level at 97.74 (S1). Clearance here is required to enable lower targets at 97.49 (S2) and 97.25 (S3)
Resistance Levels: 98.23, 98.44, 98.65
Support Levels: 97.74, 97.49, 97.25
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