Daily Forex Market by FXCC 01Mai2012

Daily Forex Market by FXCC 01Mai2012

EUR/AUD back to last week highs above 1.2800

EUR/AUD is shooting up after RBA cut 50pbs to 3.75% sending AUD/USD to fresh 4-day lows now around 1.0340, while EUR/USD is climbing higher now stalling below 1.3260, making the cross reaching the 1.2825 mark. The cross is higher by more than 170 pips in the week or a +1.29% increase, while more than half of that is just from the RBA just released rates. EUR/AUD is stalling ahead of past Tuesday's highs at 1.2836, printing a fresh session high at 1.2825, last at 1.2812 bids. Most countries in Europe will close today on Labor Day holiday, drying up liquidity during London session, with no EUR data related being published.

With Nikkei index open falling again below the 9500 key figure losing some -0.98%, USD/JPY trades at 79.87 off from session highs at 79.93, and bouncing from double intraday low at 79.75 near NY close. Most local markets are closed for holidays, and key risk event China manufacturing PMI will deliver at 01:00 GMT.
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https://support.fxcc.com/email/technical/01052012/


UPCOMING EVENTS :
2012-05-01 07:00 GMT | Denmark Retail Sales (YoY) (Mar)
2012-05-01 08:30 GMT | United Kingdom Purchasing Manager Index Manufacturing (Apr)
2012-05-01 02:00 GMT | United States Construction Spending (MoM) (Mar)
2012-05-01 02:00 GMT | United States ISM Manufacturing (Apr)

FOREX NEWS :
2012-05-01 01:32 GMT | Australia 1Q House Price Index (YoY) -4.5%
2012-05-01 01:30 GMT | Australia House Price Index (QoQ) -1.1% in 1Q
2012-05-01 01:00 GMT | China Apr NBS Manufacturing PMI increase to 53.3
2012-05-01 00:20 GMT | USD/JPY capped below 80.00

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EURUSD : 1.32457 / 1.32462
DAILY WEEKLY MONTHLY

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

1.3423 | 1.3367 | 1.3313 | 1.3269
1.3208 | 1.3156 | 1.3104 | 1.3057

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


MARKET ANALYSIS - Intraday Analysis

The EURUSD formed a top on yesterday’s session at 1.3269 (R1) and then fell forming a new low at 1.3208. Now it seems it is moving away from this level to retest the resistance levels. A break above 1.3269 (R1) would suggest a target of 1.3313 (R2) and a further rise will then focus on the next target at 1.3367 (R3). On the downside, if the price breaks below the first support level of 1.3208 (S1) we can expect retesting of 1.3156 (S2). A further decline will then bring focus to the next support level at 1.3104(S3).

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GBPUSD : 1.62263 / 1.62276
DAILY WEEKLY MONTHLY

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

1.6481 | 1.6413 | 1.6367 | 1.6301
1.6207 | 1.6134 | 1.6078 | 1.6009

SUMMARY : Up
TREND : Up trend
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Overbought


MARKET ANALYSIS - Intraday Analysis

After a successful run since the beginning of April, GBPUSD formed a top in yesterday’s trading session at 1.6301 (R1) and fell creating a support level near 1.6200. Yesterday the price was able to break above the same level (S1), and now is moving downwards for a correction. Our recommendation for today’s trading session is look for long position between 1.6200 and 1.6134 level. A stop loss should be placed at 1.6078 (S3).

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USDJPY : 79.764 / 79.766
DAILY WEEKLY MONTHLY

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

81.43 | 81.04 | 80.65 | 80.21
79.13 | 78.57 | 78.19 | 77.57

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


MARKET ANALYSIS - Intraday Analysis

USDJPY fell and penetrated successfully our support levels forming a new low at 79.70. A break below that level would suggest target at 78.57 (S2). Look for short positions targeting second support as both of our Moving Averages turned bearish. A stop loss should be placed at 80.21 (R1).

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