Forex Technical & Market Analysis FXCC Jun 14 2013

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Forex Technical & Market Analysis FXCC Jun 14 2013

مُساهمة من طرف Admin في الجمعة يونيو 14, 2013 5:28 am

Forex Technical & Market Analysis FXCC Jun 14 2013

Draghi says OMT necessary, effective and within ECB mandate

Mario Draghi defended the Outright Monetary Transactions (OMT) a day after the ECB and the Bundesbank confronted in a public hearing at Germany's top court on the legality of the bond-buying program. ECB President said the program was necessary, effective and in line with the ECB mandate. He pointed that benefits are 'visible to everybody' across Europe including Germany, in particular, falling bond yields in Italy and Spain.

"It is fully in line with our mandate because it is designed to preserve price stability for the euro area and uses instruments foreseen in the Statute," Draghi said according to the transcript of a video statement after receiving the responsible leadership award 2013 from the European School of Management and Technology in Berlin. Meanwhile, Draghi urged eurozone leaders to stick reforms and to push for greater integration "to build a stronger economic and monetary union based on shared sovereignty and greater legitimacy". "For the euro area now to move forward and establish itself on stronger ground, we need all decision makers to take their responsibilities," Draghi said.
https://support.fxcc.com/email/technical/14062013/
   
FOREX ECONOMIC CALENDAR :
2013-06-14 09:00 GMT  | EMU. Consumer Price Index (YoY) (May)
2013-06-14 12:30 GMT  | USA. Producer Price Index (YoY) (May)
2013-06-14 13:15 GMT  | USA. Industrial Production (MoM) (May)
2013-06-14 13:55 GMT  | USA. Reuters/Michigan Consumer Sentiment Index (Jun)
   
FOREX NEWS :
2013-06-14 04:21 GMT  | GBP/USD treading water around 1.57 figure
2013-06-14 03:08 GMT  | AUD/USD dealing with 0.9600 bids
2013-06-14 01:06 GMT  | USD/JPY knocks on 94.50 session lows
2013-06-14 01:06 GMT  | EUR/USD, look for highly corrective pullbacks to join bulls - 2ndSkies

   
EURUSD  :
HIGH 1.33745     LOW 1.33422     BID 1.33468     ASK 1.33474     CHANGE -0.21%     TIME 08 : 20:56



OUTLOOK SUMMARY : Up
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: While instrument trades above the 20 SMA, it keeps immediate upside potential. Next resistance is seen at 1.3379 (R1), break above it might extend gains towards to next targets at 1.3412 (R2) and 1.3444 (R3). Downwards scenario: Failure to establish positive bias today might lead to the recovery action in near term perspective. Next immediate support locates at 1.3305 (S1). Break here is required to enable bearish pressure towards to our targets at 1.3272 (S2) and 1.3239 (S3).

Resistance Levels: 1.3379, 1.3412, 1.3444
Support Levels: 1.3305, 1.3272, 1.3239

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GBPUSD  :   
HIGH 1.57199     LOW 1.56943     BID 1.57021     ASK 1.57034     CHANGE -0.1%     TIME 08 : 20:57



OUTLOOK SUMMARY : Up
TREND CONDITION : Up trend
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium

Upwards scenario: GBPUSD keeps bullish potential. Next hurdle on the upside might be found at 1.5737 (R1). Break here would open road towards to our interim aim at 1.5768 (R2) and enable final intraday resistive measure at 1.5799 (R3). Downwards scenario: Retracement action might occur below the key support level at 1.5671 (S1). Break here would open road towards to next supportive measure at 1.5639 (S2) and then final supportive bastion could be found at 1.5606 (S3).

Resistance Levels: 1.5737, 1.5768, 1.5799
Support Levels: 1.5671, 1.5639, 1.5606

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USDJPY      :
HIGH 95.797     LOW 94.429     BID 95.309     ASK 95.314     CHANGE -0.05%     TIME 08 : 20:57



OUTLOOK SUMMARY : Down
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium

Upwards scenario: Instrument resumed consolidation phase from its initial downtrend formation. Resistance level at 95.67 (R1) is a key technical point on the upside. Penetration above it would suggest higher targets at 96.21 (R2) and 96.75 (R3) later on today. Downwards scenario: Market decline below the supportive mean at 94.38 (S1) might trigger bearish pressure and enable lower target at 93.85 (S2). Final target for today locates at 93.26 (R3) price level.

Resistance Levels: 95.67, 96.21, 96.75
Support Levels: 94.38, 93.85, 93.26

Source: FX Central Clearing Ltd,( FX Central Clearing Ltd )

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