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Old 04-12-2012, 10:05 AM
alayoua
 
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Default Daily Forex Market by FXCC 12Apr2012

Daily Forex Market by FXCC 12Apr2012

EUR/USD is currently near session highs

EUR/USD is currently at 1.3133 near session highs 5 pips above, gaining +0.18% since Asian open. Markets had a lift on risk appetite once Australia's jobs data showed better than expected results, keeping unemployment rate steady at 5.2% while an increase to 5.3% was expected, and adding new 44k jobs to the economy. Local share markets and US futures are higher, Nikkei up by +0.15%, pointing for a slightly higher open in Europe.

EUR/AUD has recently fell from a cliff, losing about 80 pips in no time following the Aussie jobs report, and lower from yesterday's highs at 1.2784, last at 1.2664 with session and week lows at 1.2640. The Australian Dollar is soaring across the board after what may be labeled as a 'spectacular' jobs number in Australia. AUD/USD has so far posted a high of 1.0360 from 1.0300 following the creation of fresh 44k new jobs in March, restoring faith in the Australian economy after it lost 15.4k in February.
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https://support.fxcc.com/email/technical/12042012/

UPCOMING EVENTS
2012-04-11 08:00 GMT | European Monetary Union ECB Monthly Report
2012-04-11 08:30 GMT | United Kingdom Goods Trade Balance (Feb)
2012-04-11 08:30 GMT | United Kingdom Trade Balance; non-EU (Feb)
2012-04-11 09:00 GMT | European Monetary Union Industrial Production w.d.a. (YoY) (Feb)

FOREX NEWS
2012-04-12 04:20 GMT | EUR/USD above 1.3100 in Asia
2012-04-12 01:30 GMT | Australia Unemployment Rate s.a. steadies at 5.2%
2012-04-12 01:00 GMT | Australia Apr Consumer Inflation Expectation 3.3%
2012-04-11 00:02 GMT | Japan Domestic Corporate Goods Price Index (MoM) 0.6%

-----------------
EURUSD : 1.31384 / 1.31389
DAILY WEEKLY MONTHLY



1.3382 | 1.3341 | 1.3248 | 1.3145
1.3035 | 1.3000 | 1.2951 | 1.2903

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


MARKET ANALYSIS - Intraday Analysis

EURUSD formed a high at 1.3145 (R1) as we previously mentioned in yesterday’s analysis as it has reached a very crucial level that has been retest 3 times in the past. A break above that level, it will indicate an upward break out from the trading range of the intraday chart. This is very important as it will determine our bias towards the next trading sessions. Overall, a break above that level we will look to confirm an uptrend as the outlook continues to be positive for the EURUSD. A proper confirmation for the long positions will be when the price manages to break above 1.3170. A stop loss should be placed above 1.3035 (S1).

--------------
GBPUSD : 1.59260 / 1.59272
DAILY WEEKLY MONTHLY



1.6114 | 1.6063 | 1.6016 | 1.5937
1.5852 | 1.5804 | 1.5751 | 1.5705

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


MARKET ANALYSIS - Intraday Analysis

GBPUSD released a lot of volatility in yesterday’s trading session moving upwards above 1.5930 and then moved downwards breaking below 1.5900 touching our yesterday’s support level. It seems that the pair is gaining momentum and is moving towards 1.5937 (R1). A break above that level would suggest a target at 1.6016 (R2) a strong technical level. Look for long positions above 1.5937 (R1) targeting 1.6016 (R2). A stop loss should be placed above 1.5852 (S1).

--------------
USDJPY : 80.948 / 80.954
DAILY WEEKLY MONTHLY



82.98 | 82.43 | 81.82 | 81.18
80.57 | 79.71 | 79.42 | 78.88

SUMMARY Neutral
TREND Sideway
MA10 Neutral
MA20 Neutral
STOCHASTIC Neutral


MARKET ANALYSIS - Intraday Analysis

USDJPY fell and closed above yesterday’s support at 80.85 and now seems to be moving between 80.57 and the 81.18 level. A break above that level we suggest further rise towards 81.82 (R2) and then 82.43 (R3). On the other hand, if the price manages to hold below 81.18 (R1) we can expect retest of 80.57 (S1). A break below that level would suggest target at 79.71 (S2).

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