Daily Forex Market by FXCC 27Feb2012

Daily Forex Market by FXCC 27Feb2012

The dollar climbed to its highest level in almost nine months against the yen

In the first hour of Asia-Pacific session the euro rose 0.6 percent to 109.83 yen as of 7:55 a.m. in Tokyo from 109.18 in New York on Feb. 24. The common currency traded as high as 109.91, its strongest level since Oct. 31. It advanced 0.1 percent to $1.3468. The dollar climbed as much as 0.6 percent to 81.67 yen, its highest level since May 31, before trading at 81.55. However, The yen erased its 0.6 percent loss versus the dollar before trading at 81.14 as of 9:35 a.m. Tokyo time from 81.20 on Feb. 24 in New York. GBP/USD opened the Asia-Pacific session at 1.5880 from 1.5896 Friday close in New York; the pair experienced heavy selling interest at 1.5899, dipping to as low as 1.5860.
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URL: https://support.fxcc.com/email/technical/27022012

UPCOMING EVENTS
2012-02-27 07:45 GMT | France Producer Prices (MoM) (Jan)
2012-02-27 9:00 GMT | Italy Business Confidence (Feb)
2012-02-27 9:00 GMT | European Monetary Union M3 Money Supply (YoY) (Jan)
2012-02-27 9:00 GMT | European Monetary Union M3 Money Supply (3m) (Jan)

FOREX NEWS
2012-02-27 05:56 GMT | EUR/USD holds above 1.3440 in Asia-Pacific
2012-02-27 04:29 GMT | GBP/USD range bound between 1.5860/1.5900
2012-02-27 03:59 GMT | EUR/JPY finds ground at 109.00 in Asia
2012-02-27 00:38 GMT | GBP/USD capped below 1.5900


EURUSD : 1.34401 / 1.34411
DAILY WEEKLY MONTHLY

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

1.3613 | 1.3586 | 1.3542 | 1.3486
1.3377 | 1.3293 | 1.3211 | 1.3139

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

EURUSD rise on Friday and penetrated successfully our first resistance giving us a profit of 51 pips!! We expect the price to continue its upward move as it is under bullish pressure, but before that we can expect for a correction downwards below 1.3377 (S1) and then to continue upwards. Look for long positions below 1.3377 (S1) with a stop loss at 1.3293 (S2) targeting 1.3486 (R1).

GBPUSD : 1.58567 / 1.58584
DAILY WEEKLY MONTHLY

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

1.5998 | 1.5969 | 1.5934 | 1.5898
1.5813 | 1.5762 | 1.5700 | 1.5649

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Oversold


MARKET ANALYSIS - Intraday Analysis

GBPUSD rise from 1.5700 (S3) and made a sharp move upwards successfully penetrating our first target ending our day with profits (+59 pips)!! After that the price formed a high at 1.5898 (R1) and fell. Now it seems that the pair is moving downwards for a correction towards 1.5813 (S1) and even to our second support at 1.5762 (S2). Look for short positions at current price targeting 1.5813 (S1) and 1.5762 (S2) with a stop loss above 1.5898 (R1).

USDJPY : 81.090 / 81.099
DAILY WEEKLY MONTHLY

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

83.66 | 82.50 | 81.97 | 81.66
80.78 | 80.42 | 79.88 | 79.35

SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

USDJPY formed a high at 81.66 (R1) profiting on all our targets recommended on Friday's analysis gaining a total of 107 pips!! After that the pair fell and it now seems that it is going to retest 80.78 (S1) soon. A break below that level will be suggesting target at 80.42 (S2) as we are in a correction phase of our uptrend. On the other hand if price manage to break above 81.66 (R1) we will then expect the price to reach 81.97 (R2) and then further rise will then approach towards 82.50(R3). Look for long positions above 80.42 (S2) with a stop loss below 79.88 (S3) targeting second resistance level 81.97 (R2).

Source: FX Central Clearing Ltd, (http://www.fxcc.com)