Forex Technical & Market Analysis FXCC Aug 05 2013

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Forex Technical & Market Analysis FXCC Aug 05 2013

مُساهمة من طرف Admin في الإثنين أغسطس 05, 2013 5:34 am

Forex Technical & Market Analysis FXCC Aug 05 2013

Australian services sector falls below 40.00, first time since GFC

Earlier on the session it was learnt that the Australian Performance of Services Index (Australian PSI®) fell deeper into the red, this time by 2.1 points to 39.4 in July, suggesting further contraction in activity. This is the lowest level for the Australian PSI® since March 2009, Ai Group reported, saying that "outside the GFC-related downturn in 2008-09, it is the first time the Australian PSI® has fallen below 40 points."
https://support.fxcc.com/email/technical/05082013/

FOREX ECONOMIC CALENDAR :
2013-08-05 07:58 GMT | EMU. Markit Services PMI
2013-08-05 08:28 GMT | UK. Markit Services PMI (Jul)
2013-08-05 09:00 GMT | EMU. Retail Sales (YoY)
2013-08-05 14:00 GMT | US. ISM Non-Manufacturing PMI

FOREX NEWS :
2013-08-05 05:18 GMT | GBP/USD mustering a modest bounce after five straight down sessions
2013-08-05 04:31 GMT | AUD/USD enters heavy data week oversold and with the world leaning against it
2013-08-05 04:09 GMT | EUR/USD, sellers protect 1.3280 resistance
2013-08-05 03:24 GMT | USD/JPY easing below 99.00


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EURUSD :
HIGH 1.32868 LOW 1.32635 BID 1.32788 ASK 1.32791 CHANGE -0.02% TIME 08 : 33:34



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Neutral hourly studies point towards further consolidation, with a break of next resistive structure at 1.3293 (R1) is required to spark stronger upside action. In such scenario we would suggest our next initial targets 1.3304 (R2) and 1.3316 (R3). Downwards scenario: Risk of market depreciation is seen below the next support level at 1.3263 (S1). Clearance here would suggest next intraday targets at 1.3252 (S2) and 1.3241 (S3) in potential.

Resistance Levels: 1.3293, 1.3304, 1.3316
Support Levels: 1.2263, 1.3252, 1.3241

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GBPUSD :
HIGH 1.52969 LOW 1.5259 BID 1.52751 ASK 1.52756 CHANGE -0.05% TIME 08 : 33:34



OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Low

Upwards scenario: Market price penetrated above the Friday’s high. On the way is key resistive measure at 1.5309 (R1), break here is required to achieve higher targets at 1.5330 (R2) and 1.5350 (R3). Downwards scenario: On the downside next challenge is seen at 1.5248 (S1). Breakthrough here would open road for a recovery action towards to our initial targets at 1.5233 (S2) and 1.5212 (R3) in potential.

Resistance Levels: 1.5309, 1.5330, 1.5350
Support Levels: 1.5248, 1.5233, 1.5212

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USDJPY :
HIGH 99.15 LOW 98.706 BID 98.771 ASK 98.776 CHANGE -0.17% TIME 08 : 33:35



OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Low

Upwards scenario: Market players may prefer to stay neutral today during limited tier one macroeconomic data flow, though a break of our resistance at 99.15 (R1) would suggest next targets at 99.32 (R2) and 99.49 (R3). Downwards scenario: Further recovery phase is limited now to the next supportive barrier at 98.65 (S1). Only loss here would enable our intraday targets at 98.50 (S2) and 98.34 (S3) on the downside.

Resistance Levels: 99.15, 99.32, 99.49
Support Levels: 98.65, 98.50, 98.34

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

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