Monday, May 27, 2013

FXCC : MARKET UPDATE 27.05.2013

FXCC Forex Trading


2013-05-27 04:00 GMT
Breathing Life into the Euro
Thanks to upside surprises in Eurozone data the euro ended the week slightly higher against the U.S. dollar. The recent improvements are important and could lead to a sustainable recovery in the currency because the prior sell-off was caused by the rate cut from the European Central Bank and their concerns about the economy. The latest GDP numbers showed the region in recession and if the pessimistic outlook and forecasts by the central bank are reinforced by weaker data going forward, then the ECB would need to follow through on their pledge to ease again which would be negative for euro. However the uptick in the Eurozone PMI and German IFO reports this past week reduces pressure on the central bank and the hence the currency. If these positive surprises continue next week, they will breath new life into the euro because each piece of good news would ease the ECB's concerns.
German unemployment and retail sales figures are the most important releases on the Eurozone calendar next week. Even though manufacturing and service sector activity improved according to the PMI numbers, the details of the report show the first decline in staffing since January. So we don't advise traders to rush into buying euros until seeing next week's labor market and consumer spending figures. If economic activity in Germany begins to improve there be hope for a stronger recovery in the euro because it would help to level the playing field for the ECB and Fed. In the meantime, it is worth noting that the pivotal 1.28 support level in EUR/USD held throughout the week - making it an increasing significant level for the currency pair. With both the U.S. and U.K. markets closed today, there are no major economic reports scheduled for release and therefore trading should be quiet.-FXstreet.com



24h
USA. Memorial Day
24h
UK. Spring Bank Holiday
2013-05-27 23:50 GMT
Japan. Corporate Service Price (YoY) (Apr)

2013-05-27 04:22 GMT
A quiet start to the week as EUR/USD continues to consolidate just below 1.3000
2013-05-27 03:30 GMT
GBP/JPY cracks 153.50, support at 1.5180 now in focus
2013-05-27 03:03 GMT
Kiwi hovering above key support near 0.8050
2013-05-27 00:27 GMT
AUD/USD slightly lower for the weekly start
AUDUSD
0.96302 / 305
NZDUSD
0.80919 / 925
USDCHF
0.96266 / 276
USDCAD
1.03263 / 269
GBPJPY
152.933 / 946
EURCHF
1.24439 / 449
GOLD
1392.33 / .68
SILVER
22.61 / .62

EURUSDHIGH1.29444LOW1.29151BID1.29231ASK1.29237CHANGE-0.01%TIME08:04:42
OUTLOOK SUMMARY

Neutral
TREND CONDITION

Sideway
TRADERS SENTIMENT

Bearish
IMPLIED VOLATILITY

Low
MARKET ANALYSIS - Intraday Analysis
Upwards scenario: With limited data flow we expect that EURUSD remains to be traded in neutral channel formation today. Next hurdle is seen at 1.2945 (R1). Clearance here is required to enable higher targets at 1.2957 (R2) and 1.2970 (R3) in potential. Downwards scenario: On the other hand, possible price deviation might face next support level at 1.2914 (S1). In case of successful penetration below it next targets on the way locates at 1.2903 (S2) and 1.2891 (S3).
Resistance Levels: 1.2945, 1.2957, 1.2970
Support Levels: 1.2914, 1.2903, 1.2891
GBPUSDHIGH1.51352LOW1.51179BID1.51225ASK1.51235CHANGE0.06%TIME08:04:42
OUTLOOK SUMMARY

Up
TREND CONDITION

Sideway
TRADERS SENTIMENT

Bullish
IMPLIED VOLATILITY

Low
Upwards scenario: While instrument trades above the moving averages, it keeps immediate upside potential. Next resistance is seen at 1.5142 (R1), break above it might extend gains towards to next targets at 1.5159 (R2) and 1.5177 (R3). Downwards scenario: Any penetration below the support level at 1.5111 (S1) might create more scope for the instrument weakness in near-term perspective. We are looking to our immediate supports at 1.5092 (S2) and 1.5073 (S3) as next possible targets.
Resistance Levels: 1.5142, 1.5159, 1.5177
Support Levels: 1.5111, 1.5092, 1.5073
USDJPYHIGH101.297LOW100.795BID101.053ASK101.057CHANGE-0.23%TIME08:04:43
OUTLOOK SUMMARY

Down
TREND CONDITION

Sideway
TRADERS SENTIMENT

Bullish
IMPLIED VOLATILITY

Low
Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 101.34 (R1). Break here would open road towards to our interim aim at 101.59 (R2) and enable final intraday resistive measure at 101.84 (R3). Downwards scenario: A downside pressure could be maintained if the price penetrates below the key supportive measure at 100.76 (S1). Clearance here would open way for a price move towards to lower supports at 100.48 (S2) and 100.20 (S3).
Resistance Levels: 101.34, 101.59, 101.84
Support Levels: 100.76, 100.48, 100.20


Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Flag Counter Visit Us www.deryworldscorp.web.id Visit Us www.deryworldscorp.asia

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