Daily Forex Market by FXCC 13Jan2012

Daily Forex Market by FXCC 13Jan2012

Canada’s dollar fell versus most of its major counterparts

The pound dropped by 0.9 percent to 83.61 pence per euro shortly after the London main market closed at 4:35 p.m after falling as much as 1 percent, the most since Nov. 21. Sterling was little changed at $1.5335 after sliding to $1.5279, the lowest since Oct. 6. The currency also slipped to A$1.4801, the weakest since Aug. 1, before trading back at A$1.4877. The EUR/USD rebound from support in the 1.2700 price territory extended to levels ahead of the 1.2850 area, the single currency was supported due to better than expected Spanish and Italian bond auctions on Thursday. The Swissy, the Swiss Franc, strengthened to be the best performer across both Thursday sessions versus all its major peers, posting gains around 1% against the USD, JPY, GBP and AUD. Thursday's trading sessions saw the USD/JPY fall lower on depressed demand for the greenback, the pair has so traded a limited 76.73/80 range in the start to trading in the Asian session on Friday morning.

The Canadian currency was little changed at C$1.0191 per U.S. dollar at 5 p.m. Toronto time, after gaining has much as 0.6 percent. One Canadian dollar buys 98.13 U.S. cents. Australia’s dollar bought $1.0335 at 10:50 a.m. in Sydney from $1.0333 in New York on Thursday, when it rose as high as $1.0378 which was the strongest level since Jan. 4. The Aussie was at 79.35 yen from 79.32 yesterday. New Zealand’s currency, the Kiwi, bought 79.37 U.S. cents, this was virtually unchanged from the previous day, when the pair reached a high as 79.81 cents, a level unseen since Nov. 9th. It traded at 60.94 yen from 60.93.
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2012-01-13 09:30 GMT
UK - Producer Price Index - Input (YoY) n.s.a (Dec)

2012-01-13 09:30 GMT
UK - Producer Price Index - Output (YoY) n.s.a (Dec)

2012-01-13 10:00 GMT
European Monetary Union Trade Balance s.a. (Nov)

2012-01-13 10:00 GMT
European Monetary Union Trade Balance n.s.a. (Nov)


2012-01-13 05:28 GMT
EUR/USD on a second attempt higher in Asia

2012-01-13 03:45 GMT
EUR/AUD prints bullish engulfing candle; yesterday's high tested

2012-01-13 01:45 GMT
The kiwi struggling to get much headway

2012-01-13 00:10 GMT
GBP/USD unchanged after dip to multi-month lows

EURUSD 1.28639 / 1.28646
DAILY WEEKLY MONTHLY
High: 1.28782 | Low: 1.28071 | Chg: 0.0049 0.38%

https://support.fxcc.com/email/techn...012/EURUSD.gif

Resistance Levels: 1.3124 |1.3076 |1.2998 |1.2909
Support Levels: 1.2807 |1.2730| 1.2666 |1.2607

SUMMARY : up
TREND up trend
MA10: Bullish
MA20: bullish
STOCHASTIC : neutral


MARKET ANALYSIS - Intraday Analysis

The EURUSD found strong support at 1.2666 (S3) and within 2 sessions rose sharply to form a high at 1.2870. The pair is in a strong bullish momentum as it heads towards the downtrend trend line and as we have mentioned in previous sessions, we can expect a break out or a continuation of the downtrend. Our recommendation for today’s session is no position, as we should wait for the correction or the break out to take place and then re-evaluate our positions.

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GBPUSD 1.53790 / 1.53795
DAILY WEEKLY MONTHLY
High: 1.53925 | Low: 1.53249 | Chg: 0.0047 0.31%

https://support.fxcc.com/email/techn...012/GBPUSD.gif

Resistance Levels: 1.5747 |1.5693| 1.5577| 1.5503
Support Levels: 1.5280 |1.5246 | 1.5202 |1.5160

SUMMARY: Down
TREND: down trend
MA10: bearish
MA20 : Bearish
STOCHASTIC : neutral


MARKET ANALYSIS - Intraday Analysis

GBPUSD rebounded after a slight decline down to 1.5280 (S1), and is now moving towards our first resistance level at 1.5503 (R1). If it breaks above that level, it will be a proper confirmation for long positions targeting the second resistance level at 1.5577 (R2). If the price manages to stay below 1.5413, this would suggest a retest of 1.5280 (S1) and a break below this level would probably be limited to 1.5246 (S2).

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USDJPY 76.732 / 76.734
DAILY WEEKLY MONTHLY
High: 76.837 | Low: 76.683 | Chg: -0.023 -0.03%

https://support.fxcc.com/email/techn...012/USDJPY.gif

Resistance Levels: 77.24 |77.04| 76.97| 76.83
Support Levels: 76.67| 76.13| 75.67 |75.08

SUMMARY: Down
TREND: down trend
MA10 : bearish
MA20 : Bearish
STOCHASTIC : overbought


MARKET ANALYSIS - Intraday Analysis

The USDJPY is forming a lower tops at 77.04 (R3), 76.97 (R2) and at 76.83 (R1). In the hourly time-frame the pair is moving downward. The 10 Moving Average and the 20 Moving Average formed a strong resistance above the pair and both are pointed a bearish signals. Our recommendation therefore for today’s session is short positions at 76.67 (S1) with a stop loss above 76.97 (R2).

Source: FX Central Clearing Ltd, (http://www.fxcc.com)
URL: https://support.fxcc.com/email/technical/13012012