MARKET ANALYSIS:NZD/USD has eased off its overnight highs. However, the AUD/USD has been the real whipping boy in recent sessions, shedding almost a cent to trade around 1.0397 - Myfxblog Focus on Euro signals forecast and market analysis, striving to offer reliable and cheap EURUSD Signal. We guarantee 24×5 live trading signals update and excellent customer support.  Myfxblog Cheap Euro Signals Service

Market Overview by FXCC Aug 24 2012

Likelihood BOJ forced to ease remains high - Nomura

Following the deterioration in the Japanese trade balance in July, Nomura research team expects that while Japanese exports should recover going forward, the recent export weakness has one direct JPY negative implication. According to the bank, it puts further pressure on the BOJ to ease monetary policy again this year. "While US economic data are now suggesting a better near-term outlook, we think the likelihood of the BOJ being forced to ease remains high for the time being" the team notes.

Again London session ahead will show no EUR macro data related risk events on the agenda, with focus on Greek-EZ leaders meetings going on, today with Greek PM Samaras visiting German PM Merkel, and also on Spain possibly asking for the bailout as soon as mid Sept according to sources, with its risk premium back above the 500bps for German 10y yields. As usually for Fridays, no EZ sovereign debt auctions will take place today.
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UPCOMING EVENTS :
2012-08-24 07:45 GMT | Japan. BoJ's Governor Shirakawa Speech
2012-08-24 08:30 GMT | United Kingdom. Gross Domestic Product (QoQ) (Q2)
2012-08-24 12:30 GMT | United States. Durable Goods Orders (Jul)
2012-08-24 13:00 GMT | Belgium. Leading Indicator (Aug)

FOREX NEWS :
2012-08-24 04:31 GMT | GBP/USD moving sideways around 1.5860
2012-08-24 02:39 GMT | EUR/AUD above 1.20; fresh 1-month highs
2012-08-24 00:50 GMT | RBA has not intervened in the FX market, Stevens says
2012-08-24 00:07 GMT | EUR/USD overbought, due for correction?

----------------
EURUSD : 1.25557 / 1.25562
DAILY WEEKLY MONTHLY



1.2676 | 1.2635 | 1.2594
1.2533 | 1.2490 | 1.2445

SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bullish
STOCHASTIC : Neutral



MARKET ANALYSIS - Intraday Analysis

EURUSD reached our target at 1.5935 yesterday. The Samaras-Merkel meeting might bring additional volatility to the markets. We expect that EURUSD might decline today however the medium term bias remains positive. For the short oriented market participants we suggest next targets at 1.2533 (S1), 1.2490 (S2) and 1.2445 (S3). Tendency reversal is possible from these levels. Uptrend development is limited by next resistance level at 1.2594 (R1). Brake here is essential for “Bullish” market participants. Suggested targets for today holds at 1.2635 (R2) and 1.2676 (R3)

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GBPUSD : 1.58582 / 1.58593
DAILY WEEKLY MONTHLY



1.5996 | 1.5952 | 1.5912
1.5838 | 1.5805 | 1.5766

SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

GBPUSD remains to be traded in positive tone on the hourly chart. Next news in focus from UK is the Gross Domestic Product release at 08:30 GMT. Currently market trades below the suggested support level at 1.5874 and forming correction. Our next targets stay at the same levels: 1.5838 (S1) and 1.5805 (S2). If the market gains momentum we suggest last support at 1.5766 (S3). Key resistance level is placed above the fresh high, formed yesterday -1.5912 (R1). Expected targets for long direction are placed at 1.5952 (R2) and 1.5996 (R3).

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USDJPY : 78.551 / 78.556
DAILY WEEKLY MONTHLY



79.13 | 78.93 | 78.73
78.29 | 78.10 | 77.91

SUMMARY : Down
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

Today we have important news from Japan that might establish trading tone for a today - BoJ's Governor Shirakawa Speech at 07:45 GMT. From the technical side, USDJPY is trading in a range mode at the current moment while medium term bias is negative. Our support and levels remain the same as yesterday - 78.29 (S1), 78.10 (S2) and last one at 77.91(S3). Possibility of the USDJPY strengthening is seen above the resistance at 78.73 (R1), targeting towards to levels at 78.93 (R2) and 79.13 (R3) in potential.

Source: FX Central Clearing Ltd, ( What Is Forex Trading | Forex Trading Signals | ECN Forex Trading Online | FXCC )

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Market Overview by FXCC Aug 27 2012

Fed’s Jackson Hole conference key event this week - BNZ

The Fed’s Jackson Hole conference, due on Friday, is the event of the week. According to Mike Jones, currency strategist at Bank of New Zealand, "some of the market impact of Bernanke’s speech has been nullified by last week’s dovish Fed minutes." The analyst adds: "The speech is expected to be used to map out the policy (easing) options facing the Fed. If this has the effect of hardening Fed easing expectations then the USD should continue to suffer."

London session ahead will be a quiet one in regards of London closing for holidays and lack of macro economic data EUR related but German Ifo business climate at 08:00 GMT as the most important, preceded by German import price index at 06:00 GMT, and Chicago Fed Evans speaking at 10:00 GMT. In the euro zone sovereign debt auctions front, France and Germany will sell short term treasury bills.
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UPCOMING EVENTS :
2012-08-27 06:00 GMT | Japan. Machine Tool Orders (YoY) (Jul)
2012-08-27 08:00 GMT | Germany. IFO - Business Climate (Aug)
2012-08-27 14:30 GMT | United States. Dallas Fed Manufacturing Business Index (Aug)
2012-08-27 16:15 GMT | United States. FOMC Member Pianalto Speaks

FOREX NEWS :
2012-08-27 04:57 GMT | GBP/USD quiet around 1.58, outlook bearish – V.Bednarik
2012-08-27 04:21 GMT | EUR/NZD set to push above 55-day EMA?
2012-08-27 03:20 GMT | EUR reaches smallest net short position since May - Nomura
2012-08-27 01:41 GMT | AUD/USD falls sharply; Only China fix catalyst?


EURUSD : 1.25073 / 1.25078
DAILY WEEKLY MONTHLY



1.2635 | 1.2594 | 1.2547
1.2482 | 1.2446 | 1.2406

SUMMARY : Up trend
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

On Friday EURUSD formed correction and reached our target at 1.2490. Today we expect quiet day ahead however technically important targets might be achieved lat. Upside direction is limited by the next resistance level at 1.2547 (R1), brake here would enable higher targets at important technical level 1.2594 (R2). Momentum on the upside direction might expose last target at 1.2635 (R3) in potential. Loss of the next support level at 1.2482 (S1) would put in focus next target at 1.2446 (S2) and any further fall would then be limited by last support at 1.2406 (S3).

--------------
GBPUSD : 1.58074 / 1.58085
DAILY WEEKLY MONTHLY



1.5911 | 1.5873 | 1.5838
1.5796 | 1.5766 | 1.5733

SUMMARY : Up trend
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

GBPUSD did not show the essential momentum on Friday and remained to be traded is sideways mode however our target at 1.5805 was achieved. Fresh low at 1.5796 (S1) is the next support level. Market penetration below it might encourage execution of the short trades and drive market price towards to the next target at 1.5766 (S2). Potential is seen to reach last support level at 1.5733 (S3) in perspective. For the long positions it is preferably to wait the 1.5838 (R1) brake out. We suggest next targets at 1.5873 (R2) and 1.5911 (R3) in potential.

-----------------
USDJPY : 78.756 / 78.762
DAILY WEEKLY MONTHLY



79.37 | 79.14 | 78.93
78.62 | 78.45 | 78.28

SUMMARY : Sideway
TREND : Down trend
MA10 : Bullish
MA20 : Bullish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

USDJPY broke our resistance level at 78.73 today and now moving towards to our next target at 78.93 (R1). Brake here would enable higher target at 79.14 (R2) and any further rise would then be limited by 79.37 (R3). The downtrend resuming is possible from these levels. On the other hand if price manage to stay below the next resistance at 78.93 (R1), we expect the price to retest our support at 78.62 (S1), brake below that level would suggest next targets at 78.45 (S2) and 78.28 (S3) where can be found the final support of the day.


Source: FX Central Clearing Ltd, ( Learn Forex Trading | ECN Forex Online Trading | Forex Trading Tips | FXCC )

Market Overview by FXCC Aug 28 2012

Fed to deliver further stimulus - JPM

JPM is quite dovish on the next Fed policy tools to deploy, expecting Ben Bernanke & Co. to provide additional stimulus to the economy by extending the rate-on-hold guidance out to mid-2015 and increasing asset purchases. The bank expects medium-term US paper getting a better bid tone ahead of the Sept 12-13 FOMC meeting. A more marked move will come via real yields as investors bet on higher inflation, says JPM head bond strategist Terry Belton.

For the London session ahead the economic agenda will be soft once again in EUR macro data related terms, with Germany GFK consumer sentiment at 06:00 GMT, followed by Spanish final GDP 1 hour later, and EU M3 money supply at 08:00 GMT. At 11:00 GMT is expected EU's Van Rompuy will meet Spanish PM Rajoy, which could bring some headlines to the table giving some volatility to current thin markets, coupled with both Spanish and Italian short term sovereign debt auctions to be held today, Spain to sell up to €3.5B in 3 and 6 month bills. Spanish 10y bond yields hold near mid 6%s with risk premium with Germany around the 500bps.
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UPCOMING EVENTS :
2012-08-28 06:00 GMT | Germany. Gfk Consumer Confidence Survey (Sep)
2012-08-28 06:00 GMT | Switzerland. UBS Consumption Indicator (Jul)
2012-08-28 08:00 GMT | European Monetary Union. M3 Money Supply (3m) (Jul)
2012-08-28 14:00 GMT | United States. Consumer Confidence (Aug)

FOREX NEWS :
2012-08-28 04:32 GMT | GBP/USD maintains bearish profile
2012-08-28 03:51 GMT | EUR/USD in holding pattern ahead of risk events - OCBC
2012-08-28 02:53 GMT | AUD/USD continues to grind lower
2012-08-28 01:28 GMT | Risk off swings boost USD, JPY


EURUSD : 1.24836 / 1.24841
DAILY WEEKLY MONTHLY



1.2594 | 1.2547 | 1.2508
1.2446 | 1.2406 | 1.2369

SUMMARY : Up
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

Market remains in uptrend after some consolidation provided yesterday. Instrument dropped below the suggested support level at 1.2482 and now is moving towards to our target at 1.2446 (S1). Brake here is required for further correction development towards to next target at 1.2406 (S2). Last support level locates today at 1.2369 (S3). Failure to go lower would put in focus next resistance at 1.2508 (R1), brake here is required to enable next targets at 1.2547 (R2) and 1.2594 (R3), important technical level.

---------------
GBPUSD : 1.57882 / 1.57893
DAILY WEEKLY MONTHLY



1.5892 | 1.5861 | 1.5827
1.5753 | 1.5717 | 1.5681

SUMMARY : Down
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

The market is intended to go lower in medium term perspective. Yesterday instrument dropped below the expected support level at 1.5796 and finally reached our target at 1.5766 today. Technically, next support level locates at today fresh low 1.5753 (S1), pushdown of the price is possible below this level. We suggest next targets at 1.5717 (S2) and 1.5681 (S3). Failure to go lower suggested support level might put in focus our next resistance level at 1.5827 (R1), brake here would suggest new targets at 1.5861 (R2) and 1.5892 (R3).

---------------
USDJPY : 78.509 / 78.514
DAILY WEEKLY MONTHLY



79.21 | 79.02 | 78.83
78.45 | 78.28 | 78.11

SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold


MARKET ANALYSIS - Intraday Analysis

USDJPY depreciated today below the expected support level at 78.62 and almost reach our next target at 78.45 (S1). We expect further easing towards to our targets later on today however there is no clear tendency on the market now. Possible execution of protective orders below the support level at 78.45 (S1) might drive market price toward to our lower targets at 78.28 (S2) and 78.11 (S3). On the other hand, if market go higher and continue to be traded in sideways we suggest waiting for a clear brake of the next resistance level at 78.83 (R1). Next expected target at 79.02 (R2).

Source: FX Central Clearing Ltd, ( Forex Trading Course | Forex Trading Blog | ECN Forex Trading Training | FXCC )

Market Overview by FXCC Aug 29 2012

ECB has no choice but buy periphery gvrt debt - Nomura

ECB purchases of periphery debt would be effective in ending a dysfunctional government bond marke, says Nomura economist Richard Koo. "While longer-term answers to this eurozone-specific problem include fiscal stimulus to tackle the balance sheet recession itself and a rule that addresses the issue of capital flight by restraining, given that both of those measures will probably take years to implement, the only short-term option is to have the ECB buy the government debt of peripheral countries" the economist said in a research note.

London session ahead will be another quiet one in terms of EUR macro data related coming out, with only French business confidence at 06:45 GMT, followed by Italian consumer confidence and retail sales at 08:00 GMT, and German CPI at 12:00 GMT. In the sovereign debt auctions front Italy will sell 6-month bills, with 10 year bond yields on the rise at 5.82% last, coming from multi-week lows Aug 22 at 5.56% for Italy. There will also be some meetings among different EU leaders going on which could actually produce some headlines.
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UPCOMING EVENTS :
2012-08-29 07:00 GMT Switzerland. KOF Leading Indicator (Aug)
2012-08-29 12:00 GMT Germany. Harmonised Index of Consumer Prices (YoY) (Aug). Preliminar
2012-08-29 12:30 GMT United States. Gross Domestic Product Annualized (Q2)
2012-08-29 18:00 GMT United States. Fed's Beige Book


2012-08-29 04:32 GMT GBP/USD holds bullish stance – V.Bednarik
2012-08-29 04:11 GMT GBP/JPY: Hikkake prints at key support
2012-08-29 03:42 GMT EUR/USD, watch resistance at 1.2600
2012-08-29 02:02 GMT USD on demand in Asia

---------------------
EURUSD : 1.25567 / 1.25571
DAILY WEEKLY MONTHLY



1.2633 | 1.2604 | 1.2576
1.2543 | 1.2513 | 1.2481

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


MARKET ANALYSIS - Intraday Analysis

The “Bullish” sentiment took up the EURUSD. Instrument reached our target at 1.2547. Potential of going higher is seen today above the next resistance at 1.2576 (R1), surpassing of this level would suggest higher targets at 1.2604 (R2) and 1.2633 (R3). If it fail to go higher, we might see retracement development below the next support level at 1.2543 (S1) towards to next target at 1.2513 (S2). Brake here is required to enable last support level at 1.2481 (S3).

------------------
GBPUSD : 1.58147 / 1.58155
DAILY WEEKLY MONTHLY



1.5913 | 1.5887 | 1.5838
1.5797 | 1.5772 | 1.5747

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


MARKET ANALYSIS - Intraday Analysis

GBPUSD currently is under the “Bullish” pressure and moving towards to our suggested yesterday target at 1.5838 (R1), our next resistance level. Brake here would suggest new target at 1.5887 (R2) and any further rise would then be limited to 1.5913 (R3) intraday. Next support level stay at 1.5797 (S1), brake below it might provide a downside priority in direction for the remaining of the day. Next suggested targets at 1.5772 (S2) and 1.5747 (S3) in potential.

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USDJPY : 78.580 / 78.584
DAILY WEEKLY MONTHLY



79.02 | 78.83 | 78.65
78.45 | 78.28 | 78.11

SUMMARY : Sideway
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

Technically instrument remain trading in a range mode. A break above the first resistance level at 78.65 (R1) would suggest a target at 78.83 (R2). If the price holds its momentum on the upside we can expect a further rise towards to 79.02 (R3) in perspective. All our support levels remain the same as yesterday. Key support level holds at 78.45 (S1). If the pair manage to brake here, we expect next target 78.28 (S2) and any further fall would then be limited to 78.11 (S3).


Source: FX Central Clearing Ltd, ( Forex Trading Hours | Forex Trading Strategy | ECN Forex Trading Tutorial | FXCC )

Market Overview by FXCC Aug 31 2012

ECB bond buying plan unlikely to be fully unveiled at the Sep ECB meeting - TDS

With summer drawing to a close, "it's time to see if the monetary weapons will be revealed", says Rich Kelly, research analyst at TDS. "Disappointment at some stage along the way is a real possibility and we eventually expect the ECB’s new bond buying plan to satisfy the market, but it is unlikely to be fully unveiled at the September ECB meeting, and once announced, there will be a lag before Spain asks for it, and markets hate waiting and uncertainty" the analyst notes.

In the sessions ahead, the UK’s non-seasonally adjusted Nationwide Housing Prices data for August will be key risk event for GBP, but the market is likely to be distracted as it awaits Bernanke’s speech at Jackson Hole.
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UPCOMING EVENTS :
2012-08-31 09:30 GMT | E.M.U. Unemployment Rate (Jul)
2012-08-31 12:30 GMT | Canada. Gross Domestic Product (YoY) (Q2)
2012-08-31 14:00 GMT | United States. Fed's Bernanke Speaks at Jackson Hole
2012-08-31 18:30 GMT | All. IMF's Lagarde Speaks at Jackson Hole

FOREX NEWS :
2012-08-31 03:45 GMT | USD/JPY dips to 6-day lows, still in range
2012-08-31 03:01 GMT | NZD/USD finding resistance below 0.80
2012-08-31 02:11 GMT | GBP/JPY sideways around 124.00
2012-08-31 02:46 GMT | EUR/AUD within quiet, narrow range


EURUSD : 1.25109 / 1.25114
DAILY WEEKLY MONTHLY



1.2577 | 1.2550 | 1.2523
1.2481 | 1.2451 | 1.2417

SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

Today major market drivers would be Fed's Bernanke Speech at 14:00 GMT and IMF's Lagarde Speech at 18:30 GMT at Jackson Hole. However some macroeconomic data would be released during the European trading session, in focus E.M.U. Unemployment Rate at 09:00 GMT and Germany Retail Sales at 06:00 GMT. Appreciation above the next resistance level at 1.2523 (R1) potentially might expose higher targets at 1.2550 (R2) and 1.2577 (R3) later on today. Bearish penetration below the suggested yesterday support at 1.2513 targeting 1.2481 (S1) and 1.2451(S2) in potential. Final support level for today locates at 1.2417 (S3).

-----------------
GBPUSD : 1.57932 / 1.57941
DAILY WEEKLY MONTHLY



1.5859 | 1.5830 | 1.5800
1.5770 | 1.5741 | 1.5712

SUMMARY : Up
TREND : Downward penetration
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

Yesterday Instrument made an attempt to establish positive bias but failed to go much higher our suggested resistance level at 1.5838. During the US Session pair recovered all gains and met our downside direction target at 1.5772. Fresh low, formed yesterday is our next support level at 1.5770 (S1), brake here might shift market sentiment to the “Bearish” side. In such scenario we expect further decline towards to next targets at 1.5741 (S2) and 1.5712 (S3). Risk of GBPUSD strengthening is seen above the resistance level at 1.5800 (R1). Progress above it might expose targets at 1.5830 (R2) and 1.5859 (R3) in potential.

----------------
USDJPY : 78.435 / 78.440
DAILY WEEKLY MONTHLY



78.91 | 78.85 | 78.57
78.28 | 78.10 | 77.92

SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Oversold


MARKET ANALYSIS - Intraday Analysis

Market remains in sideways mode trading however potential volatility increase due to the Jackson Hole Symposium might assist to the trend development on the market. Signal of market sentiment change to the bearish would be provided if market drop below the next support level at 78.28 (S1). Suggested targets locates at 78.10 (S2) and 77.92 (S3). On the other side, brake above the resistance at 78.57 (R1) might lead to the bullish scenario and expose targets at 78.85 (R2) and 78.91 (R3).

Source: FX Central Clearing Ltd,( Forex Trading Basics | ECN Forex Trading Education | Best Forex Trading Platform | FXCC )

Market Overview by FXCC Sep 03 2012

ECB to add some colour on bond buying - Nomura

Expect the ECB to announce its preparedness to intervene in the bond market after countries have called for help at the EFSF/ESM and under strict conditionality, Nomura Chief European Economist Jacques Cailloux said in a research note, published late last week. However, Nomura believes that the ECB will provide very little colour on the modalities of the programme at this week's meeting. According to Mr. Cailloux, once the program is implemented, "analysis shows that the bond buying programme for Spain could last 5 months with the shorter maturities rallying further in the initial stage of the policy response. Much more difficult will be how to anchor the longer end which will be the job of the EFSF/ESM, a task we believe will be very hard."

London session ahead will have another round of PMI figures this time coming from several EU countries like Spain, Italy, France, Germany, the EU, and Greece, starting at 07:13 GMT, 07:43, 07:48, 07:53, and finally at 07:58 with the EU and Greece respectively. Not much in EUR macro data related apart from the PMIs, with the focus on the US closed today on holiday, and ECB's Draghi to testify on banking union before the European Parliament's Economic and Monetary Affairs Committee, in Brussels at 13:30 GMT.
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UPCOMING EVENTS :
2012-09-03 07:15 GMT : Switzerland. Real Retail Sales (YoY) (Jul)
2012-09-03 07:53 GMT : Germany. Markit Manufacturing PMI (Aug)
2012-09-03 07:58 GMT : E.M.U. Markit Manufacturing PMI (Aug)
2012-09-03 08:28 GMT : United Kingdom. Markit Manufacturing PMI (Aug)

FOREX NEWS :
2012-09-03 04:33 GMT : GBP/USD consolidating above 1.5850
2012-09-03 04:12 GMT : EUR/USD flat, AUD/USD plummets
2012-09-03 03:52 GMT : AUD/USD forecast at parity before end of 2012 - UBS
2012-09-03 03:16 GMT : EUR/AUD at fresh 2-month highs

---------------
EURUSD : 1.25825 / 1.25826
DAILY WEEKLY MONTHLY



1.2717 | 1.2676 | 1.2637
1.2557 | 1.2517 | 1.2480

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


MARKET ANALYSIS - Intraday Analysis

Friday’s comments by ECB’s Benoit Coeure pushed EURUSD up to the new monthly highs and our suggested target at 1.2577 was achieved. Our next resistance level is placed above the fresh high at 1.2637 (R1), violation here would expose next target at 1.2676 (R2) and any further appreciation might face resistive measures located at 1.2717 (R3). On the other side, the pair’s fall might be supported by our next level at 1.2557 (S1). Further decline below it might test next targets at 1.2517 (S2) and 1.2480 (S3) in potential.

---------------
GBPUSD : 1.58698 / 1.58710
DAILY WEEKLY MONTHLY



1.5948 | 1.5922 | 1.5896
1.5848 | 1.5824 | 1.5799

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


MARKET ANALYSIS - Intraday Analysis

Friday’s USD weakening during the European session let to profit taking at 1.5589, our last suggested target. Upside pressure might force the market to retest our next resistance level at 1.5896 (R1). Consolidation above it might provide sufficient space for the price increase towards to our next targets at 1.5922 (R2) and 1.5948 (R3). On the flip side, depreciation below the support level at 1.5848 (S1) would enable our targets at 1.5824 (S2) and 1.5799 (S3) in potential.

--------------
USDJPY : 78.319 / 78.323
DAILY WEEKLY MONTHLY



78.80 | 78.63 | 78.45
78.10 | 77.92 | 77.74

SUMMARY : Down
TREND : Sideway
MA10 : Bearish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

Current installation might suggest us about the market sentiment change. Friday decline below the key support level at 78.28 open the road towards to the new targets. Our next target level at 78.10 (S1) mark is not far away from current market price. Brake here would suggest lower supports at 77.92 (S2) and 77.74 (S3) as new targets. A move above the resistance level at 78.45 (R1) might drive price towards to the next target at 78.63 (R2) and any further rise would then be limited by last resistance at 78.80 (R3), important technical level.

Source: FX Central Clearing Ltd,( Best Forex Trading System | Forex Trading Platforms | Automated Forex Trading Software | FXCC )

Market Overview by FXCC Sep 04 2012

RBA Interest Rate Decision remains at 3.5%

The Australian central bank believes that despite the overall global worsening conditions in recent months, monetary policy is appropriate given inflation levels consistent with the objectives set, as well as economic growth in line with expectations. Widely anticipated by economists surveyed by Bloomberg where 24 out of the 24 economists questioned expected the decision to remain unchanged, in the absence of dovish signs the pair is pushing higher.

Australia current account balance has come at -11,801M in 2Q vs -14,892M in 1Q. Expectations were for -12.2 bln approximately. The contribution from Aus net exports rose to 0.3%, below a 0.55% forecasted.
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UPCOMING EVENTS :
2012-09-04 09:00 GMT | E. M. U. Producer Price Index (YoY) (Jul)
2012-09-04 12:58 GMT | United States. Markit Manufacturing PMI (Aug)
2012-09-04 14:00 GMT | United States. ISM Manufacturing PMI (Aug)
2012-09-04 23:30 GMT | Australia. AiG Performance of Services Index (Aug)

FOREX NEWS :
2012-09-04 02:29 GMT | EUR/USD to fresh session highs on USD weakness overall
2012-09-04 01:33 GMT | Japan Labor Cash Earnings (YoY) -1.2% in Jul
2012-09-04 01:17 GMT | Hard to see gold breaking 1700/oz before NFP - ANZ
2012-09-04 00:05 GMT | USD/JPY more range trading above 78.00

--------------
EURUSD : 1.26120 / 1.26127
DAILY WEEKLY MONTHLY



1.2717 | 1.2676 | 1.2637
1.2594 | 1.2557 | 1.2517

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


MARKET ANALYSIS - Intraday Analysis

EURUSD failed to establish any significant movement as the pair has remained in sideways mode trading yesterday. At the moment pair is gaining 0.18% and next resistance level ahead is seen at 1.2637 (R1). Penetration above it might resume market strengthening towards to the next target at 1.2676 (R2). Remaining resistance level locates at 1.2717 (R3). On the flip side, support levels lie at 1.2594 (S1) ahead. Brake here is required to enable next targets at 1.2557 (S2) and 1.2517 (S3). Next important news from E. M. U. is Producer Price Index at 09:00 GMT.

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GBPUSD : 1.58865 / 1.58876
DAILY WEEKLY MONTHLY



1.5948 | 1.5922 | 1.5896
1.5873 | 1.5848 | 1.5824

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


MARKET ANALYSIS - Intraday Analysis

Technically, GBPUSD is under the bullish pressure on the medium term and we expect further appreciation later on today as main scenario. GBPUSD reached our suggested resistance level at 1.5896 (R1) and now is moving towards to our next target at 1.5922 (R2). Progress above it would suggest final target for today at 1.5948 (R3). On the other hand, retracement is possible and market decline below the next support level at 1.5873 (S1) would bring in focus lower targets at 1.5848 (S2) and 1.5824 (S3) in potential.

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USDJPY : 78.368 / 78.373
DAILY WEEKLY MONTHLY



78.80 | 78.63 | 78.45
78.17 | 77.98 | 77.80

SUMMARY : Down
TREND : Sideway
MA10 : Bullish
MA20 : Bearish
STOCHASTIC : Neutral


MARKET ANALYSIS - Intraday Analysis

USDJPY continue its range trading and picture in general remain the same. In terms of technical levels, next resistance is seen at 78.45 (R1). If the pair manages to successfully climb above it, we could even see to retest of our next target at 78.63 (R2) later on. Our final resistance could be found at 78.80 (R3) price level. While next support is placed at 78.17 (S1), decline below it would put in focus next target at 77.98 (S2) and any further depreciation would then be limited to 77.80 (S3) intraday.

Source: FX Central Clearing Ltd,( Forex Trading Account | ECN Forex Trading Courses | Forex Currency Trading System | FXCC )