Daily Forex Market by FXCC 13Mar2012

Daily Forex Market by FXCC 13Mar2012

EUR/USD lower on BoJ, finds ground at 1.3150

EUR/USD is having a hit after BoJ announced its latest policy decision leaving rates on hold, and not implementing any new easing measures, which it seems has upset the market, sending equities lower and USD and yen higher. EUR/USD trades at 1.3159 as last after hitting fresh session lows at 1.3148, falling from highs at 1.3192.GBP/USD broke below 1.5650 support overnight, a level which had been tested on various occasions over the last few weeks. The pair managed to slide to a fresh 2-month low of 1.5601 before bounce to end the American session at 1.5640, down from 1.5673 late Friday.

AUD/USD is at a session high of 1.0555 versus an earlier low of 1.0504, quoted around 0.4% above its starting price this Tuesday.EUR/JPY is currently at session lows 108.29, falling from recent session and weekly highs at 108.52, touched twice during present session. Nikkei index trades to the upside regaining the 10000 points mark rising +1.18% for the day ahead of BoJ policy meeting later on, and following poor industrial data released earlier.
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UPCOMING EVENTS
2012-03-13 07:45 GMT | France Current Account (Jan)
2012-03-13 09:30 GMT | United Kingdom Trade Balance; non-EU (Jan)
2012-03-13 10:00 GMT | EU - ZEW Survey - Economic Sentiment (Mar)
2012-03-13 10:00 GMT | Germany ZEW Survey - Economic Sentiment (Mar)

FOREX NEWS
2012-03-13 05:47 GMT | EUR/USD lower on BoJ, finds ground at 1.3150
2012-03-13 05:09 GMT | Japan BoJ Interest Rate Decision steadies at 0.1%
2012-03-13 00:35 GMT | Australia National Australia Bank's Business Conditions up to 3 in Feb
2012-03-13 00:33 GMT | Australia Jan Home Loans -1.2%

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EURUSD : 1.31672 / 1.31680
DAILY WEEKLY MONTHLY

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

1.3424 | 1.3362 | 1.3291 | 1.3192
1.3078 | 1.3025 | 1.2978 | 1.2951

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


MARKET ANALYSIS - Intraday Analysis

EURUSD rise and formed a top at 1.3192 (R1). A break above that level would suggest target at 1.3291 (R2). On the other hand if the price does not manage to break above 1.3192 (R1) then we can expect a retest of the support level at 1.3078 (S1). A break below that level would suggest target at 1.3025 (S2).

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GBPUSD : 1.56494 / 1.56510
DAILY WEEKLY MONTHLY

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

1.5882 | 1.5834 | 1.5769 | 1.5695
1.5601 | 1.5562 | 1.5513 | 1.5467

SUMMARY : Down
TREND : Down trend
MA10 : Bearish
MA20 : Neutral
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

GBPUSD after forming a top (intraday) at 1.5695 (R1), fell in yesterday’s trading session forming a new low at 1.5601 (S1). A break below that level would suggest target at 1.5562 (S2) and further fall will be limited at 1.5513 (S3). On the other hand a break above 1.5695 (R1) we expect the price to retest 1.5769 (R2) and further rise will then be limited at 1.5834 (R3) leg correction to the downtrend.

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USDJPY : 82.162 / 82.171
DAILY WEEKLY MONTHLY

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

83.61 | 83.28 | 82.97 | 82.63
81.95 | 81.46 | 81.14 | 80.58

SUMMARY : Neutral
TREND : Sideway
MA10 : Neutral
MA20 : Neutral
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

USDJPY found a strong resistance at 82.63 (R1) and trapped in a trading range between the level of 82.63 (R1) and today’s low 81.95 (S1). A break above the first resistance would suggest a target of 82.97 (R2). If price holds its momentum on the upside we can expect a further rise towards 83.28 (R3). On the other hand, if the price does not manage to break above 82.63 (R1) we can expect the pair to retest first support at 81.95 (S1). A break below that level would suggest target at 81.46 (S2) and further decline will then be limited at 81.14 (S3).

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