Daily Forex Market by FXCC 25Apr2012
Daily Forex Market by FXCC 25Apr2012
EUR/USD around 1.3200 ahead of FOMC
EUR/USD keeps struggling around 1.3200 mark last at 1.3196, trading a tight range during Asian session, with highs at 1.3207, and lows at 1.3191. The pair has not moved much since yesterday's NY open, closing the gap lower with which opened Monday with yesterday's highs at 1.3220 ahead of today's FOMC at 16:30 GMT and further economic projections and press conference at 18:00-18:15 GMT. The London session ahead will also bring ECB chairman Mario Draghi testifying before European Parliament's Economic and Monetary Committee in Brussels at 07:00 GMT, German 30 year bond auction at 09:00 GMT, and UK GDP at 08:30 GMT which could have an impact on EUR/GBP.
USD/JPY’s overnight bounce from 80.84 has extended above the 81.50 price zone in quiet Asia-Pacific trading, having touched a session high of 81.55 as the market holds a bullish tone ahead of the BOJ meeting on Friday.
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UPCOMING EVENTS
2012-04-25 08:30 GMT | United KingdomGross Domestic Product (QoQ) (Q1)
2012-04-25 08:30 GMT | United KingdomGross Domestic Product (YoY) (Q1)
2012-04-25 12:30 GMT | United States Durable Goods Orders (Mar)
2012-04-25 12:30 GMT | United StatesDurable Goods Orders ex Transportation (Mar)
FOREX NEWS
2012-04-25 04:42 GMT | GBP/USD within 20-pip margin; UK GDP eyed
2012-04-25 04:23 GMT | EUR/USD around 1.3200 ahead of FOMC
2012-04-25 00:49 GMT | AUD/USD bracketed between 1.0310/40
2012-04-25 00:11 GMT | USD/JPY pushes up to 81.50
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EURUSD 1.31950 / 1.31952
DAILY WEEKLY MONTHLY
https://support.fxcc.com/email/techn...012/EURUSD.gif
1.3389 | 1.3351 | 1.3287 | 1.3226
1.3180 | 1.3118 | 1.3057 | 1.3000
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
EURUSD has been moving upwards since the middle of April and the bulls face a major hurdle at the 1.3226 level (resistance), a level that is significant both, psychologically and technically. A break above 1.3226 (R1) would suggest a target at 1.3287 (R2) and further rise will then be limited to 1.3351 (R3). On the other hand if the price manages to stay below our first resistance level then we expect the price to retest 1.3180 (S1) and if a break occurs below that level the expected target is at 1.3118 (S2).
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GBPUSD : 1.61424 / 1.61433
DAILY WEEKLY MONTHLY
https://support.fxcc.com/email/techn...012/GBPUSD.gif
1.6291 | 1.6249 | 1.6187 | 1.6164
1.6078 | 1.6009 | 1.5963 | 1.5909
SUMMARY : Neutral
TREND : Sideway
MA10 : Neutra
MA20 : Neutral
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
GBPUSD didn’t make any significant moves in yesterday’s trading session apart from a false break out above 1.6150. Following that the price fell and trapped in a trading range between yesterday’s current support and resistance levels. Our recommendation for today’s trading session is no position until we see a clearer trend direction. No position.
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USDJPY : 81.371 / 81.376
DAILY WEEKLY MONTHLY
https://support.fxcc.com/email/techn...012/USDJPY.gif
83.57 | 82.89 | 82.41 | 81.77
81.20 | 80.85 | 80.29 | 79.57
SUMMARY : Up
TREND : Up trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral
MARKET ANALYSIS - Intraday Analysis
The USDJPY moved upwards and broke above yesterday’s support level closing around to 81.60, just below our first resistance. A break above 81.77 (R1) will confirm our long positions targeting 82.41 (R2). On the other hand a break below 81.20 (S1) would suggest a target at 80.29 (S3).
Source: FX Central Clearing Ltd, (http://www.fxcc.com)
