Daily Forex Analysis from FXCC Nov 15 2012

EU's Rehn: Spain has taken effective action on budget deficits in 2012 and 2013

EU Economic and Monetary Affairs Commissioner Olli Rehn made a statement on Spain on Wednesday, regarding the country's deficit moves. According to the European Commission's assessment the Spanish government has taken effective action for 2012, 2013 as far as restoring sustainability of public finances is concerned. Nevertheless, it would fail to meet the deficit target for 2014.

Mr Rehn declared that Spain currently does not need additional measures and that the progress of its budget consolidation will be evaluated once again by the EU in February, by which time it might be necessary to introduce further measures. He added that he does not see the need for Rajoy's government making a bailout request in the nearest future. The EU Economic and Monetary Affairs Commissioner also acknowledged that Spain is currently undergoing difficult rebalancing of the economy and that its government and people are making great efforts to assure sustainability of the country’s finances.
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UPCOMING EVENTS :
2012-11-15 09:00 GMT : Italy. Gross Domestic Product(Preliminar)
2012-11-15 09:30 GMT : United Kingdom. Retail Sales
2012-11-15 10:00 GMT : E.M.U. Gross Domestic Product (Preliminar)
2012-11-15 13:30 GMT : United States. Consumer Price Index Ex Food & Energy

FOREX NEWS :
2012-11-15 04:15 GMT : AUD/USD stalls the dive helped by 1.0350 bids
2012-11-15 04:03 GMT : Short AUD/CAD; target the 1.01 area - Westpac
2012-11-15 03:36 GMT : GBP/AUD offered below 50% Fibo
2012-11-15 00:51 GMT : EUR/USD: Hourly pin forms off 200 EMA; bears encouraged


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EURUSD :
HIGH 1.2753 LOW 1.27174 BID 1.27473 ASK 1.27476 CHANGE 0.09% TIME 08:03:46



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Current market installation might suggest us about the uptrend formation on the hourly timeframe. Break of 1.2758 (R1) is required for attack to the next target at 1.2772 (R2). Final resistance could be found at 1.2787 (R3) today. Downwards scenario: Risk of further market depreciation is seen below the next support level at 1.2730 (S1). Loss here would suggest intraday targets at 1.2715 (S2) and 1.2700 (S3).

Resistance Levels: 1.2758, 1.2772, 1.2787
Support Levels: 1.2730, 1.2715, 1.2700

-----------------------------------
GBPUSD :
HIGH 1.58552 LOW 1.58361 BID 1.58519 ASK 1.58523 CHANGE 0.07% TIME 08:03:47



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

Upwards scenario: Our next resistance level locates at 1.5859 (R1). If market gains momentum and manage to overcome it, we expect further deviation from the initial downtrend towards to next targets at 1.5877 (R2) and 1.5894 (R3). Downwards scenario: Risk of market weakening is seen below the fresh low at 1.5834 (S1). Loss here would enable bearish forces and might expose our targets at 1.5815 (S2) and 1.5796 (S3).

Resistance Levels: 1.5859, 1.5877, 1.5894
Support Levels: 1.5834, 1.5815, 1.5796

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USDJPY :
HIGH 80.943 LOW 80.125 BID 80.931 ASK 80.933 CHANGE 0.85% TIME 08:03:48



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

Upwards scenario: USDJPY appreciated by 0.85% today and determined clear bullish market sentiment. Our key resistance level locates at fresh high – 80.96 (R1), clearance here would suggest higher targets at 81.10 (R2) and 81.25 (R3) intraday. Downwards scenario: Risk of correction is seen below the next support level at 80.61 (S1), break here is required to enable lower targets at 80.47 (S2) and 80.32 (S3).

Resistance Levels: 80.96, 81.10, 81.25
Support Levels: 80.61, 80.47, 80.32

Source: FX Central Clearing Ltd,( ECN Forex Account | Forex Managed Account | Managed Forex Account | FXCC )

Daily Forex Analysis from FXCC Nov 16 2012

Eurozone officially in recession

Third quarter GDP data for the Eurozone published yesterday revealed that the area has once again slipped into recession. According to Eurostat Q3 GDP was down by 0.1%, which is the second consecutive quarterly decline. Only the German and French economies expanded, both by 0.2%. Martin van Vliet from ING comments: “GDP figures clearly demonstrate that the Eurozone economy as a whole is in desperate need of macroeconomic stimulus. With policymakers seemingly reluctant to engineer a coordinated pull-back from fiscal austerity, more monetary stimulus and a weaker currency is likely to be needed to put Eurozone back on a path of sustained growth.”

ECB Governing Council member Luc Coene declared in the European morning that Spain should urgently seek EU aid. European Commissioner for Economic and Monetary Affairs Olli Rehn, who spoke later in the day, assured that the solution to the Greek problem requires a combination of measures, providing the principal amount of its debt does not change.-FXstreet.com
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UPCOMING EVENTS :
2012-11-16 10:00 GMT : E. M. U. Trade Balance
2012-11-16 14:00 GMT : United States. Net Long-Term TIC Flows
2012-11-16 14:15 GMT : United States. Industrial Production
2012-11-16 20:45 GMT : United States. Fed's Lockhart speech

UPCOMING EVENTS :
2012-11-16 04:31 GMT : GBP/AUD flat around 1.5350; with bullish scope?
2012-11-16 04:28 GMT : AUD/CAD looking more bearish if below 1.0290
2012-11-16 04:06 GMT : USD/JPY consolidation likely next week - Nomura
2012-11-16 01:31 GMT : EUR/USD bears cap rebound at 1.28


EURUSD :
HIGH 1.27845 LOW 1.27645 BID 1.27681 ASK 1.27688 CHANGE -0.09% TIME 08:03:35



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We expect resuming of the uptrend formation if the price manages to overcome next resistance level at 1.2786 (R1). Immediate focus comes on 1.2800 (R1) and 1.2814 (r3) in such scenario. Downwards scenario: Price decline below the next support levels at 1.2759 (S1) might trigger bearish pressure and enable next target at 1.2745 (S2). Further correction development might face final support level at 1.2732 (S3).

Resistance Levels: 1.2786, 1.2800, 1.2814
Support Levels: 1.2759, 1.2745, 1.2732

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GBPUSD :
HIGH 1.58665 LOW 1.58569 BID 1.58597 ASK 1.58604 CHANGE -0.03% TIME 08:03:36



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

Upwards scenario: A medium-term bias is negative now though intraday bullish forces might be activated if the pair penetrates above the resistance level at 1.5868 (R1). Next immediate resistance levels holds at 1.5884 (R2) and 1.5899 (R3). Downwards scenario: Downside direction is limited by next support level at 1.5841 (S1), price decrease below it would be targeting next supports at 1.5826 (S2) and 1.5810 (S3).

Resistance Levels: 1.5868, 1.5884, 1.5899
Support Levels: 1.5841, 1.5826, 1.5810

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USDJPY :
HIGH 81.268 LOW 80.973 BID 81.010 ASK 81.013 CHANGE -0.19% TIME 08:03:38



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

Upwards scenario: While instrument trades below the resistance level at 81.28 (R1), market would try to form correction. Break above it is required to attack the upside target at 81.50 (R2) and 81.70 (R3) in potential. Downwards scenario: If price would manage to overcome our support at 80.92 (S1) we suggest next targets at 80.70 (S2) and 80.46 (S3).

Resistance Levels: 81.28, 81.50, 81.70
Support Levels: 80.92, 80.70, 80.46

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

Daily Forex Analysis from FXCC Nov 19 2012

ECB's Asmussen calls for a 2-year funding extension on Greece

FXstreet.com (Barcelona) - Joerg Asmussen, member of the European Central Bank, told German broadcaster ZDF over the weekend, EU leaders should agree on a 2-year loan extension for Greece, with any additional funding plan to be decided at a later stage, confirming the broadly-held view within the EU of 'kicking the can down the road', a position not marrying too well with IMF Director Christine Lagarde, who has been repeatedly calling for a long-standing comprehensible plan.

For today, EUR related economic agenda for the London session ahead looks soft, with only Italian industrial production at 09:00 GMT. However, several conferences in the EU will take place in parallel, ahead of tomorrow's key Eurogroup meetings. The special attention will be headlines from EU Commissioner Barnier and Spain EcoMin De Guindos, speaking at the EU conference on financial stability and the single market at 08:30 GMT. Also Deutsche Bundesbank President Jens Weidmann speech in Frankfurt at the same time will attract market's attention. In the EZ sovereign debt auctions front, France will deliver Treasury bills at 12:45 GMT, with 10 year bond yields stable around the 2% figure, last at 2.08%.
https://support.fxcc.com/email/technical/19112012/


UPCOMING EVENTS :
2012-11-19 **:00 GMT Japan. BoJ Monetary Policy Meeting Minutes
2012-11-19 10:00 GMT European Monetary Union. Construction Output
2012-11-19 15:00 GMT United States. Existing Home Sales Change
2012-11-19 23:00 GMT Australia. Conference Board Australia Leading Index

UPCOMING EVENTS :
2012-11-19 06:08 GMT EUR/USD advance above 1.28 should command respect
2012-11-19 06:02 GMT GBP/USD rises above 1.59 on positive tone
2012-11-19 04:43 GMT AUD/EUR seen at +0.84 in early 2013 - Westpac
2012-11-19 04:07 GMT EUR/AUD looking for bids around 1.23 mark


EURUSD :
HIGH 1.27734 LOW 1.27401 BID 1.27582 ASK 1.27588 CHANGE 0.13% TIME 07:59:51



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Instrument show up 0.13% rise today and any further appreciation needs to clear barrier at 1.2774 (R1). Intraday targets could be found at 1.2786 (R2) and then at 1.2798 (R3). Downwards scenario: Below the 10 SMA locates our next support level at 1.2751 (S1). Break here might open a route towards to next targets at 1.2739 (S2) and 1.2727 (S3) in perspective.

Resistance Levels: 1.2774, 1.2786, 1.2798
Support Levels: 1.2751, 1.2739, 1.2727

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GBPUSD :
HIGH 1.59233 LOW 1.58806 BID 1.59109 ASK 1.59116 CHANGE 0.17% TIME 07:59:52



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

Upwards scenario: market sentiment is clearly bullish today. Fresh high formed today acts now as next resistance level at 1.5924 (R1). Above here open way towards to next targets at 1.5936 (R2) and then at 1.5947 (R3). Downwards scenario: Risk of depreciation is seen below the local high, formed on the 14-11-2012 at 1.5902 (S1). Break here is required to enable lower targets at 1.5890 (S2) and 1.5877 (S3).

Resistance Levels: 1.5924, 1.5936, 1.5947
Support Levels: 1.5902, 1.5890, 1.5877

----------------------
USDJPY :
HIGH 81.587 LOW 81.125 BID 81.243 ASK 81.247 CHANGE -0.09% TIME 07:59:53



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

Upwards scenario: Medium term bias is positive for USDJPY. Risk of market appreciation is seen above the next resistance level at 81.41 (R1). Loss here would suggest next target at 81.62 (R2) and any further rise would then be targeting 81.82 (R3). Downwards scenario: If the pair gains momentum on the downside and manage to break our next support level at 81.10 (S1), it is likely to get acceleration towards to our next support level at 80.90 (S2) and 80.68 (S3), exactly where the 38.2% Fibonacci retracement level lies.

Resistance Levels: 81.41, 81.62, 81.82
Support Levels: 81.10, 80.90, 80.68

Source: FX Central Clearing Ltd,( Forex Practice Account | ECN Broker | ECN Forex | FXCC )

Daily Forex Analysis from FXCC Nov 21 2012

EU Finance Ministers fail to agree on Greece; Talks to resume on Monday

The European finance ministers failed to reach any conclusive decision on Greece after a 10+ hours meeting in Brussels, which came to a conclusion well into the night at around 4am. Details will not be released and the press conference was canceled. Luke Baker, Reuters bureau chief in Brussels, notes: "After more than 10 hours of meeting, German Finance Minister Schaeuble said euro zone finance ministers couldn't reach an agreement on Greece. Euro Finance Chiefs will continue talks on Monday..."

Earlier on the Asian session, Reuters was out reporting on a Eurogroup document laying out details on Greek debt, which is seen at debt to GDP of 144% in 2020, 133% in 2022, 111% in 2030, noted Mr. Baker. Current Greek debt level stands at 170% of GDP. Bloomberg reported that target of reaching debt sustainability may be postponed to 2022. One of the measures under discussion is suspending for 10 years interest payments on loans provided to Greece by the European Financial Stability Facility (EFSF), Reuters reported citing an unnamed official. It is thought that even combined elements "would still fail to reduce the overall debt-to-GDP ratio to 120% by 2020, the level the IMF has deemed as 'sustainable' " Bloomberg notes. Speculation is that IMF may remove itself from any Greek bailout programs if the 120% threshold can not be reached.-Fxstreet.com
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UPCOMING EVENTS :
2012-11-21 09:30 GMT | United Kingdom. Bank of England Minutes
2012-11-21 13:30 GMT | United States. Initial Jobless Claims
2012-11-21 14:55 GMT | United States. Reuters/Michigan Consumer Sentiment Index
2012-11-21 15:00 GMT | United States. Leading Indicator

FOREX NEWS :
2012-11-21 05:46 GMT | GBP/USD peels back to 1.59 ahead of BoE Minutes
2012-11-21 05:32 GMT | EUR/GBP; 1-month already dealing around the 0.80 figure
2012-11-21 05:08 GMT | EUR/AUD turns lower toward 1.2300
2012-11-21 04:18 GMT | AUD/USD sinks on Eurogroup dissapointment


EURUSD :
HIGH 1.2822 LOW 1.27364 BID 1.27527 ASK 1.27533 CHANGE -0.5% TIME 08 : 01 : 43



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD formed retracement formation today, turning intraday bias to the negative side. Our next resistance level for today is hold at 1.2774 (R1). Rise above it might open route towards to next targets at 1.2788 (R2) and 1.2803 (R3). Downwards scenario: A break below the fresh low at 1.2736 (S1) would allow bears remaining in play on the medium-term perspective. Next targets could be found at 1.2720 (S2) and 1.2705 (S3).

Resistance Levels: 1.2774, 1.2788, 1.2803
Support Levels: 1.2736, 1.2720, 1.2705

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GBPUSD :
HIGH 1.59285 LOW 1.58998 BID 1.59046 ASK 1.59051 CHANGE -0.12% TIME 08 : 01 : 44



OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Medium

Upwards scenario: A move above the resistance level at 1.5912 (R1) might drive market price towards to next target at 1.5921 (R2) and any further rise would then be limited to resistance at 1.5930 (R3). Downwards scenario: Hourly chart correction remains in power today. Next barrier locates at 1.5894 (S1). Loss here might enable further bearish pressure and downgrade Cable towards to expected targets at 1.5886 (S2) and 1.5877 (S3).

Resistance Levels: 1.5912, 1.5921, 1.5930
Support Levels: 1.5894, 1.5886, 1.5877

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USDJPY :
HIGH 81.974 LOW 81.654 BID 81.913 ASK 81.917 CHANGE 0.29% TIME 08 : 01 : 46



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

Upwards scenario: USDJPY gained momentum on the positive side and formed fresh high today, which is our key point for further market gains. Strengthening above the resistance at 81.97 (R1) would enable expected targets at 82.14 (R2) and 82.29 (R3). Downwards scenario: Retracement development is limited to the next support level at 81.70 (S1). Clearance here would open road towards to possible targets, located at 81.53 (S2) and 81.35 (S3).

Resistance Levels: 81.97, 82.14, 82.29
Support Levels: 81.70, 81.53, 81.35

Source: FX Central Clearing Ltd,( ECN Platform | Forex Broker Reviews | Online Forex Broker | FXCC )

Daily Forex Analysis from FXCC Nov 22 2012

Market pricing Greece deal by Monday

Judging by the reaction of the market after EU authorities failed to reach a deal on Greece, hopes that by Monday leaders will resolve the technicalities and find a way to unblock the next disbursement of bailout money to Greece, continue to run high, and so does the Euro. There are varies option on the table, with the WSJ citing the three most likely, which include a debt buybacks program, loan interest cuts to 0.25%, which may potentially save the country over 44 billion euros, and a return of SMP profits. The German leader Angela Merkel advocated after the last EcoFin meeting that they could beef up the EFSF funds by 10 billion euros to support an activation of a Greece buy back program. Meanwhile, EU leaders are scheduled to have talks today about budget talks, with the market focusing on the area's spending plan. Headline over this meeting will hardly move the Euro.

Eurozone finance ministers are discussing options to bring down Greece's debt to 120% of GDP in 2020. One of the measures under discussion is suspending for 10 years interest payments on loans provided to Greece by the European Financial Stability Facility (EFSF), Reuters reported citing an unnamed official. Another measure could be to buy back Greek debt held by private financial institutions, offering 30% of its value, while a third step would be to cut the interest on €53 billion of bilateral loans to Greece, to 25 basis points from the current 150 basis points.
https://support.fxcc.com/email/technical/22112012/


UPCOMING EVENTS :
2012-11-22 08:28 GMT | Germany. Markit Services PMI
2012-11-22 08:58 GMT | European Monetary Union. Markit Services PMI
2012-11-22 13:30 GMT | Canada. Retail Sales
2012-11-22 15:00 GMT | European Monetary Union. Consumer Confidence

FOREX NEWS :
2012-11-22 05:44 GMT | EUR/USD below 1.16 in 2013 favored – JPM
2012-11-22 04:07 GMT | GBP/JPY moving in tight ranges below 132
2012-11-22 03:03 GMT | AUD is 5% overvalued – JPM
2012-11-22 01:28 GMT | AUD/CAD risks to the downside if below 1.0300 – TD Securities

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EURUSD :
HIGH 1.28682 LOW 1.28261 BID 1.28466 ASK 1.28472 CHANGE 0.14% TIME 08:17:21



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD tested positive side today and gains 0.14 %. Local high, formed today acts now as next barrier for further price appreciation. Clearance of 1.2868 (R1) would suggest next targets at 1.2885 (R2) and 1.2902 (R3). Downwards scenario: Important support level locates right at 1.2831 (S1). Successful retest here would open route towards to next target at 1.2814 (S2) and any further decline would then be limited to final support for today at 1.2796 (S3).

Resistance Levels: 1.2868, 1.2885, 1.2902
Support Levels: 1.2831, 1.2814, 1.2796

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GBPUSD :
HIGH 1.59698 LOW 1.59509 BID 1.59599 ASK 1.59606 CHANGE 0.06% TIME 08:17:22



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

Upwards scenario: GBPUSD accomplished new step of uptrend formation. Risk of further market increase is seen above the resistance at 1.5970 (R1). Violation here might increase bullish pressure and expose next targets at 1.5981 (R2) and 1.5992 (R3). Downwards scenario: Price depreciation below the support at 1.5949 (S1) level might likely push the pair toward the second target at 1.5939 (S2) and any further market decline would then be limited to support at 1.5928 (S3) price.

Resistance Levels: 1.5970, 1.5981, 1.5992
Support Levels: 1.5949, 1.5939, 1.5928

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USDJPY :
HIGH 82.591 LOW 82.366 BID 82.470 ASK 82.474 CHANGE -0.07% TIME 08:17:24



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

Upwards scenario: If we take a look on the hourly chart we can see that medium-term bias is clearly positive. We expect further appreciation if the price manages to overcome 82.61 (R1). Next targets could be found at 82.80 (R2) and 82.99 (R3). Downwards scenario: A failure to clear next resistance barrier would open the way towards the initial support level at 82.26 (S1) price. Loss here might take the pair towards to eventual targets, located at 82.07 (S2) and 81.87 (S3) in potential.

Resistance Levels: 82.61, 82.80, 82.99
Support Levels: 82.26, 82.07, 81.87

Source: FX Central Clearing Ltd,( ECN Forex Trading| Forex Rates | Forex Market | FXCC )

Daily Forex Analysis from FXCC Nov 23 2012

Greece edges towards a debt deal; IMF lowers demands

Greece may soon breathe a sigh of relief, as a deal with the Troika looks closer, according to Greek-based paper ekathimeini, citing Finance Minister Yannis Stournaras who suggests only 10 billion euros stand in the way of a deal.From ekathimeini: "Sources said that another 8 to 10 billion euros was needed to meet the target." the Greek paper also reports that "the IMF has accepted that Greek debt will not meet its target of 120 percent of GDP in 2020 and is willing for this to change to 124 percent in the same year."

German Chancellor Angela Merckel said after the meeting she doubts an agreement will be reached on EU budget this week, and will likely need another few sessions of negotiations. She added positions are too far apart for now. Meanwhile, according to an official statement by the European Council, Yves Mersch has been appointed to the executive board of the European Central Bank for a term of eight years as from 15 December. He will succeed José Manuel González-Páramo, who completed his term of office on 31 May.
https://support.fxcc.com/email/technical/23112012/

UPCOMING EVENTS :
2012-11-23 **:00 GMT | European Monetary Union. European Council meeting
2012-11-23 07:00 GMT | Germany. Gross Domestic Product
2012-11-23 09:30 GMT | United Kingdom. BBA Mortgage Approvals
2012-11-23 13:30 GMT | Canada. Consumer Price Index

FOREX NEWS :
2012-11-23 05:50 GMT | GBP/USD makes 10-year volatility lows while around 1.5950
2012-11-23 04:47 GMT | USD/JPY in the red below 82.50 for first time in a week
2012-11-23 03:40 GMT | USD/CAD 0.99 a decent support area - TDS
2012-11-23 02:57 GMT | EUR/USD finds bids above 1.2870

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EURUSD :
HIGH 1.28939 LOW 1.28685 BID 1.28939 ASK 1.28940 CHANGE 0.06% TIME 08 : 13 : 26



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We placed our next resistance level above the yesterday high at 1.2899 (R1). If the market manages to overcome it, next resistance in focus would be 1.2917 (R2) and any further rise would then be targeting 1.2935 (R3).Downwards scenario: The pair continues to extend its strengthening on the medium- term perspective, however a breach of our next support level at 1.2868 (S1) might trigger downside formation towards to our next targets at 1.2851 (S2) and 1.2839 (S3).

Resistance Levels: 1.2899, 1.2917, 1.2935
Support Levels: 1.2868, 1.2851, 1.2839

--------------------------------
GBPUSD :
HIGH 1.59526 LOW 1.59336 BID 1.59526 ASK 1.59530 CHANGE 0.1% TIME 08 : 13 : 27



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

Upwards scenario: BBA Mortgage Approvals release at 09:30 GMT in focus. Break above the next resistance level at 1.5959 (R1) would suggest next targets at 1.5969 (R2) and 1.5978 (R3) in potential. Downwards scenario: From the technical side, market sentiment is not clear. Next attractive level for the downside development locates at 1.5939 (S1). Loss here might take the pair towards to eventual targets at 1.5928 (S2) and 1.5918 (S3).

Resistance Levels: 1.5959, 1.5969, 1.5978
Support Levels: 1.5939, 1.5928, 1.5918

-----------------------------
USDJPY :
HIGH 82.506 LOW 82.181 BID 82.268 ASK 82.272 CHANGE -0.24% TIME 08 : 13 : 28



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

Upwards scenario: Medium term bias remains positive after correction, provided today. Our next resistance is placed at 82.44 (R1). Rise above it might push price towards to next targets at 82.61 (R2) and 82.77 (R3) intraday.Downwards scenario: Instrument trades below the moving averages and we expect the pair to extend its losses later on today. Below the support level at 82.15 (S1) locates initial retracement targets at 81.98 (S2) and 81.82 (S3).

Resistance Levels: 82.44, 82.61, 82.77
Support Levels: 82.15, 81.98, 81.82

Source: FX Central Clearing Ltd,( Forex Rate | Forex News | ECN Forex Broker | FXCC )

Daily Forex Analysis from FXCC Nov 24 2012

Greek deal hopes and China's improving growth momentum lift market mood

Risky assets advanced this week as economic indicators showed improving growth momentum in China and the US, while the economic recession did not intensify in the eurozone. Optimism about an imminent agreement on a debt-reduction package for Greece also contributed to improve market sentiment. Spain took advantage of more positive market mood and it managed to sell EUR8.8bn in government bonds and Treasury bills, helping sentiment toward risk assets. In this context, negative impact of the French credit rating downgrading was quite mute. Peripheral risk premia narrowed notably across the board this week. Notwithstanding the safe-haven yields rose, the reaction in the short-end of the German yield curve was quite limited. At the end of the week, oil prices fell due to ceasefire agreed between Israel and Hamas, reducing one of the global market headwinds. Finally, Japanese yen is being dragged by expectation of Japanese Liberal Democratic Party expectation to win elections on December 16, which backs an ease monetary policy

Today's market headlines will be almost entirely dominated by the EU FinMin meeting, with reports over the weekend suggesting a Greece debt deal is still up in the air. On Saturday, finance ministers held a teleconference, which failed to clear up the picture in this regard. The Greek-based paper Kathimerini, citing sources familiar with the talks, suggests an agreement may not be inked until December 3, while portals like Reuters sound more optimistic.-FXstreet.com
https://support.fxcc.com/email/technical/26112012/

UPCOMING EVENTS :
2012-11-26 **:00 GMT | European Monetary Union. EcoFin Meeting
2012-11-26 07:00 GMT | Germany. Retail Sales
2012-11-26 21:45 GMT | New Zealand. Trade Balance


FOREX NEWS :
2012-11-26 05:31 GMT | EUR/USD, 1.30 or 1.2920 first? EU FinMin to shake up price
2012-11-26 05:26 GMT | AUD/USD above 1.05 if Greece gets the money - Westpac
2012-11-26 05:02 GMT | GBP/USD limited below 1.6050


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EURUSD :
HIGH 1.29774 LOW 1.29453 BID 1.29453 ASK 1.29459 CHANGE -0.2% TIME 08:30:18



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Next barrier for uptrend formation locates at Friday’s high- 1.2991 (R1), above here opens the way for a move towards to our targets at 1.3010 (R2) and 1.3029 (R3). Downwards scenario: If the market successfully retest our support level at 1.2946 (S1), we expect further consolidation development with possible targets at 1.2928 (S2) and 1.2909 (S3).

Resistance Levels: 1.2991, 1.3010, 1.3029
Support Levels: 1.2946, 1.2928, 1.2909

------------------------
GBPUSD :
HIGH 1.60379 LOW 1.60159 BID 1.60169 ASK 1.60173 CHANGE -0.06% TIME 08:30:19



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

Upwards scenario: Resuming of the uptrend is possible above the next resistance level at 1.6051 (R1). Clearance of this level might expose next targets at 1.6067 (R2) and 1.6081 (R3). Downwards scenario: Market deviates from the uptrend formation and currently trades on the session low. Further market decline is limited to next support level at 1.6010 (S1), with only clear break here would be a signal of market weakening with next targets at 1.5996 (S2) and 1.5981 (S3).

Resistance Levels: 1.6051, 1.6067, 1.6081
Support Levels: 1.6010, 1.5996, 1.5981

--------------------
USDJPY :
HIGH 82.622 LOW 82.066 BID 82.083 ASK 82.087 CHANGE -0.35% TIME 08:30:20



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

Upwards scenario: Our bullish expectations remain intact, above the next resistance level at 82.61 (R1). Break here would suggest next targets at 82.79 (R2) and 82.98 (R3) in potential. Downwards scenario: Bearish penetration below the support at 82.15 (S1) might determine negative sentiment for the remaining of the day with possible targets in focus at 81.96 (S2) and 81.77 (S3) intraday.

Resistance Levels: 82.61, 82.79, 82.98
Support Levels: 82.15, 81.96, 81.77

Source: FX Central Clearing Ltd,( Forex Charts | Forex Exchange | ECN Forex Online | FXCC )

Daily Forex Analysis from FXCC Nov 27 2012

More funding for Greece finally approved

The EU reached a deal to reduce Greek debt to 124 % of the GDP in 2020 through a package of extra steps amounting 20 % of GDP, that was the headline from Reuters earlier in the Asian session. Reporters, however, had to arm themselves with patience until concrete details out of Brussels came out. Once the Eurogroup press conference was on past 1am Brussels time, Jean-Claude Juncker, president of the Eurogroup, provided the first remarks to the press, saying "today we reached political agreement on next disbursement to Greece", adding that despite has been a difficult decision, "I am complimenting the Greek gov't, I am complimenting the Greek parliament".

The Eurogroup will formally decide on the disbursement December 13 if national parliaments approve tonight's deal. For now, what has been written in the draft document is that Greece aid disbursement of around €44 bln will be provided under 3 tranches. The first €34.4 bln loan is expected by mid December once green light from parliaments is given, and through Q1 2013 the rest, subject to implementation of its ongoing austerity program.-FXstreet.com
https://support.fxcc.com/email/technical/27112012/


UPCOMING EVENTS :
2012-11-27 09:30 GMT | United Kingdom. Gross Domestic Product
2012-11-27 13:30 GMT | United States. Durable Goods Orders
2012-11-27 15:00 GMT | United States. Consumer Confidence
2012-11-27 19:00 GMT | United States. Fed's Beige Book

FOREX NEWS :
2012-11-27 05:40 GMT | Greece buys time; Will EUR/USD buy into Greece?
2012-11-27 05:38 GMT | GBP/USD flat below 1.6050 ahead of UK GDP
2012-11-27 05:13 GMT | EUR/GBP bid above 0.8100
2012-11-27 04:15 GMT | AUD/JPY asks above 86 round heavy

-----------------------
EURUSD :
HIGH 1.30087 LOW 1.29694 BID 1.29856 ASK 1.29862 CHANGE 0.11% TIME 08:29:07



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Our retail trading market sentiment indicator shows, that majority of traders have sold during the EURUSD appreciation. Penetration above the 1.3010 (R1) might lead to the protective orders execution and drive market price towards to next targets at 1.3029 (R2) and 1.3046 (R3). Downwards scenario: Market stabilized after the previous day’s gains and looks ready to establish correction. Market decline below the next support level at 1.2967 (S1) would suggest next targets at 1.2948 (S2) and 1.2929 (S3).

Resistance Levels: 1.3010, 1.3029, 1.3046
Support Levels: 1.2967, 1.2948, 1.2929

-------------------------------------
GBPUSD :
HIGH 1.60447 LOW 1.60226 BID 1.60369 ASK 1.60378 CHANGE 0.06% TIME 08:29:08



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

Upwards scenario: Today in focus GDP announcement at 09:30 GMT. Our next resistance level is placed above the local peak at 1.6051 (R1) (High of 23/11/2012). Strengthening above it would point to resistive structure at 1.6067 (R2) onto 1.6081(R3). Downwards scenario: Downside fluctuations remains for now limited to next support level at 1.6025 (S1), only clear break here would be a signal of market easing with next targets at 1.6010 (S2) and 1.5996 (S3) in potential.

Resistance Levels: 1.6051, 1.6067, 1.6081
Support Levels: 1.6025, 1.6010, 1.5996

---------------------------
USDJPY :
HIGH 82.305 LOW 81.858 BID 82.273 ASK 82.279 CHANGE 0.26% TIME 08:29:09



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

Upwards scenario: Longer term we look for a move above the 82.43 (R1). Loss here might establish new step of uptrend formation and target 82.61 (R2) en route to 82.79 (R3). Downwards scenario: On the short –term perspective we expect market decline. A Bearish signal would be created if the currency dropped below the next support level at 82.09 (S1). We suggest next targets in such scenario at 81.92 (S2) and 81.76 (S3).

Resistance Levels: 82.43, 82.61, 82.79
Support Levels: 82.09, 81.92, 81.76

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

Daily Forex Analysis from FXCC Nov 28 2012

OECD: EU debt crisis a primary threat to world economy

The OECD released its twice-yearly Economic Outlook on Tuesday in which it cut the global growth forecast and warned that the Eurozone debt crisis is a greater threat to the world economy than the looming US fiscal cliff. "After five years of crisis, the global economy is weakening again," OECD's chief economist Pier-Carlo Padoan warned. "The risk of a new major contraction can't be ruled out." The Paris based organization reduced its global growth forecast for 2012 from 3.4% seen in May to 2.9%, and for 2013 from 4.2% to 3.4%. It also suggested that the Eurozone economy should start growing again in 2013 and that the US should witness a expansion of 2% next year and of around 3% in 2014. An intensification of the debt crisis in the Eurozone could however push the area into a profound recession and damage US recovery.

The OECD urged governments not to cut spending too much, as it hurts growth. Central banks in the Eurozone, Japan, China and India were advised to boost stimulus to prop up their ailing economies. The organization also allowed for the possibility of Greece not being able to strictly adhere to its reform plan, should recession deepen more than expected. “The agreed consolidation measures should be put in place, but if growth proves lower than assumed in the government's fiscal plans, then the automatic stabilisers should be allowed to operate, even if this means missing the set targets,” the OECD stated.-FXstreet.com
https://support.fxcc.com/email/technical/28112012/

UPCOMING EVENTS :
2012-11-28 13:00 GMT | Germany. Consumer Price Index. Preliminar
2012-11-28 15:00 GMT | United States. New Home Sales
2012-11-28 19:00 GMT | United States. Fed's Beige Book
2012-11-28 23:50 GMT | Japan. Large Retailer's Sales

FOREX NEWS :
2012-11-28 05:42 GMT | EUR/USD risks losing 1.29; Greece lose ends, US fiscal cliff weigh
2012-11-28 05:19 GMT | GBP/USD seeing little action, but gently offered toward 1.60
2012-11-28 05:01 GMT | AUD/USD back to the upper bound of its tiny 30 pip range
2012-11-28 04:06 GMT | GBP/JPY suffering from risk aversion, holds above 131

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EURUSD :
HIGH 1.29452 LOW 1.29118 BID 1.29164 ASK 1.29171 CHANGE -0.2% TIME 08 : 32 : 07



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: The corrective reaction remains in power, though medium-term bias remains positive. In focus our resistance level at 1.2947 (R1), break here would suggest next targets at 1.2967 (R2) and 1.2984 (R3). Downwards scenario: At the moment pair is looing -0.2% and might face next supportive barrier at 1.2900 (S1). Easing below it is essential to enable next targets at 1.2882 (S2) and 1.2865 (S3) in perspective.

Resistance Levels: 1.2947, 1.2967, 1.2984
Support Levels: 1.2900, 1.2882, 1.2865

--------------------
GBPUSD :
HIGH 1.60248 LOW 1.59949 BID 1.60013 ASK 1.60022 CHANGE -0.13% TIME 08 : 32 : 08



OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High

Upwards scenario: The pair posted fresh high yesterday and trapped to consolidative mode trading. A break of technically important level at 1.6021 (R1) might determine positive bias for the remaining of the day. Next suggested targets in this case would be 1.6035 (R2) and 1.6048 (R3). Downwards scenario: Price setup is looking for a pullback development. Downside fluctuations remains for now limited to next support level at 1.5992 (S1), only clear break here would be a signal of market easing with next targets at 1.5980 (S2) and 1.5968 (S3).

Resistance Levels: 1.6021, 1.6035, 1.6048
Support Levels: 1.5992, 1.5980, 1.5968

--------------------
USDJPY :
HIGH 82.211 LOW 81.717 BID 81.767 ASK 81.771 CHANGE -0.47% TIME 08 : 32 : 09



OUTLOOK SUMMARY : Down
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : Neutral

Upwards scenario: Instrument trades in gradual descending channel on the hourly chart. Our next resistance level is placed at 81.91 (R1). Brake here is required for a return to the upper side of the channel with possible targets at 82.01 (R2) and 82.10 (R3) in potential. Downwards scenario: Penetration below the support at 81.66 (S1) might change technical picture and establish downtrend formation on the medium-term perspective. Our next expected target locates at 81.57 (S2) and any further loss would then be targeting to final support for today at 81.47 (S3).

Resistance Levels: 81.91, 82.01, 82.10
Support Levels: 81.66, 81.57, 81.47

Source: FX Central Clearing Ltd,( Forex Signals | ECN Forex Broker | Forex Trade | FXCC )

Daily Forex Analysis from FXCC Nov 29 2012

EU gives the go-ahead to Spanish bank restructuring plan

The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaquín Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017.

Joaquín Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017.-FXstreet.com
https://support.fxcc.com/email/technical/29112012/

UPCOMING EVENTS :
2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov)
2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech
2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3)
2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct)

FOREX NEWS :
2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo
2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020
2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism
2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 - Scotiabank

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EURUSD :
HIGH 1.29611 LOW 1.29388 BID 1.29460 ASK 1.29465 CHANGE -0.05% TIME 08:50:54



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).

Resistance Levels: 1.2962, 1.2980, 1.2996
Support Levels: 1.2939, 1.2921, 1.2903

--------------------------
GBPUSD :
HIGH 1.60202 LOW 1.60081 BID 1.60147 ASK 1.60155 CHANGE 0.01% TIME 08:50:55



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

Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).

Resistance Levels: 1.6021, 1.6031, 1.6042
Support Levels: 1.6005, 1.5994, 1.5983

-------------------------
USDJPY :
HIGH 82.214 LOW 82.006 BID 82.146 ASK 82.151 CHANGE 0.09% TIME 08:50:56



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

Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).

Resistance Levels: 82.22, 82.30, 82.39
Support Levels: 82.00, 81.91, 81.82

Source: FX Central Clearing Ltd,( ECN Forex Brokers | Forex Converter | Forex Expert Advisors | FXCC )