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Forex Technical & Market Analysis FXCC

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Forex Technical & Market Analysis FXCC Sep 13 2013

Countdown for QE taper fireworks is on!

The judgment day for the Fed, Sept 17, is nearing, and the market is preparing accordingly for what may represent the most important monetary policy decision taken in years, as the start of QE taper gets kick-started. Even if the next FOMC meeting comes on the back of a rather disappointing NFP past Friday, the communication strategy carried out by Chairman Ben Bernanke & Co. so far suggest that some sort of light taper should be expected, or else the sell-off in the USD might be one that make headlines all over the world. According to Adam Button, Editor at Forexlive, "The market has settled on $10 billion as the most-likely size for the Fed’s taper next week", anticipating that "larger and the dollar will rally hard, smaller and it will fall."

Meanwhile, Treasury traders seem to be perceive the taper being priced in less than 10bln, which makes a bullish case for a stronger USD for those supporting odds for a more aggressive taper. If this scenario happens to be true, some long USD plays vs other G10 currencies such as the NZD, EUR or even the CAD, might be a great play based on this assumption. As Button notes: "I think it’s clear that a taper is coming but the Fed could still change its mind on the size and the messages that accompany it. Two reports in the days ahead could change their thinking: retail sales on Friday and the CPI on Monday."
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
24h | EMU EcoFin Meeting
2013-09-13 12:30 GMT | US Retail Sales (MoM) (Aug)
2013-09-13 13:55 GMT | US Reuters/Michigan Consumer Sentiment Index (Sep)
2013-09-13 14:00 GMT | US Business Inventories (Aug)

FOREX NEWS :
2013-09-13 05:17 GMT | GBP/USD little moved after Carney, US job data
2013-09-13 04:52 GMT | NZD/USD faces formidable 0.8150/70 tech resistance
2013-09-13 04:39 GMT | USD stronger ahead of US retail sales; Gold stalls
2013-09-13 04:38 GMT | EUR/USD capped by 1.3300


EURUSD :
HIGH 1.33022 LOW 1.32644 BID 1.32677 ASK 1.32680 CHANGE -0.23% TIME 08 : 40:28



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3286 (R1). Clearance here would suggest next interim target at 1.3302 (R2) and then final aim locates at 1.3317 (R3). Downwards scenario: Further downside extension might face next supportive barrier at 1.3256 (S1). Clearance here is required to open the way towards to interim target at 1.3240 (S2) and any further price regress would then be targeting 1.3225 (S3).

Resistance Levels: 1.3286, 1.3302, 1.3317
Support Levels: 1.3256, 1.3240, 1.3225

--------------------
GBPUSD :
HIGH 1.58117 LOW 1.57766 BID 1.57812 ASK 1.57816 CHANGE -0.14% TIME 08 : 40:29



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

Upwards scenario: GBPUSD tested negative side recently, however we see potential to test resistive barrier at 1.5812 (R1) later on today. Successful penetration above that level would suggest next intraday targets at 1.5838 (R2) and 1.5864 (R3) later on today. Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 1.5775 (S1). Loss here would suggest to monitor marks at 1.5750 (S2) and 1.5725 (S3) as possible intraday targets.

Resistance Levels: 1.5812, 1.5838, 1.5864
Support Levels: 1.5775, 1.5750, 1.5725

--------------------------
USDJPY :
HIGH 99.976 LOW 99.418 BID 99.861 ASK 99.866 CHANGE 0.33% TIME 08 : 40:29



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

Upwards scenario: Further price appreciation is a likely scenario for today according to the technical readings. If the pair manages to clear the barrier at 100.08 (R1), we would suggest next targets at 100.24 (R2) and 100.40 (R3). Downwards scenario: Our next supportive barrier lies at 99.72 (S1). Break here is required to enable downside expansion towards to our intraday targets at 99.54 (S2) and 99.36 (S3) in potential.

Resistance Levels: 100.08, 100.24, 100.40
Support Levels: 99.72, 99.54, 99.36

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

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Forex Technical & Market Analysis FXCC Sep 16 2013

US and Russia outline diplomatic framework on Syria

Asian markets reacted positively at the open, cheering up what is perceived as a headline likely to fuel risk-on appetite, as news hit the wires on a political U.S. / Russia deal for the Syrian crisis over the weekend. Despite the easing in geopolitical tensions, there are still claims from both sides of the political spectrum in the U.S. implying the deal with Russia is a defeat by the US administration. In an interview with ABC over the weekend, Obama said limited military action should not be rule out just yet, should the Assad regime not comply to disarm its chemical arsenal. In a joint news conference between US Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov, a framework document for Syria to surrender its chemical stockpiles was outlined, with Kerry calling Assad to live up to its commitments.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-16 08:00 GMT | EMU ECB President Draghi's Speech
2013-09-16 09:00 GMT | EMU Consumer Price Index - Core (YoY) (Aug)
2013-09-16 09:00 GMT | EMU Labour cost (Q2)
2013-09-16 13:15 GMT | US Industrial Production (MoM) (Aug)

FOREX NEWS :
2013-09-16 05:07 GMT | GBP/USD flirting with 1.6000 on risk-on sentiment
2013-09-16 04:40 GMT | Expecting a $20bn Fed taper - RBS
2013-09-16 04:11 GMT | USD/CHF trading just above 0.9230 support after Fed / Summers news
2013-09-16 03:51 GMT | EUR/USD spikes on much more dovish Yellen


EURUSD :
HIGH 1.33822 LOW 1.33551 BID 1.33622 ASK 1.33627 CHANGE 0.49% TIME 08 : 34:20



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Our next resistance level is placed at 1.3384 (R1). Break here would open route towards to higher target at 1.3405 (R2) and any further price advance would then be limited to 1.3426 (R3). Downwards scenario: On the other hand, prolonged movement below the supportive measure at 1.3339 (S1) is required to activate new phase of downtrend expansion. We would suggest next aim at 1.3318 (S2) and then final target could be met at 1.3295 (S3).

Resistance Levels: 1.3384, 1.3405, 1.3426
Support Levels: 1.3339, 1.3318, 1.3295

------------------------
GBPUSD :
HIGH 1.59576 LOW 1.59302 BID 1.59529 ASK 1.59535 CHANGE 0.5% TIME 08 : 34:20



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

Upwards scenario: GBPUSD is approaching our next resistive measure at 0.5971 (R1) on the upside. Break here is required to enable bullish potential and expose our interim target at 1.6000 (R2). Further price appreciation would then be limited to last resistance at 1.6030 (R3). Downwards scenario: On the other hand, price devaluation below the support at 1.5919 (S1) would initiate bearish pressure. On the way our next interim support at 1.5889 (S2) en route to final aim for today at 1.5858 (S3).

Resistance Levels: 1.5971, 1.6000, 1.6030
Support Levels: 1.5919, 1.5889, 1.5858

---------------------
USDJPY :
HIGH 99.104 LOW 98.456 BID 98.925 ASK 98.928 CHANGE -0.44% TIME 08 : 34:24



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

Upwards scenario: Discounted value of USDJPY determined negative bias on the medium-term perspective. From the technical side, next resistance is seen at 99.11 (R1). Only clearance here would allow possible gains, targeting 99.33 (R2) and 99.54 (R3). Downwards scenario: Risk of the market decline is seen below the support level at 98.44 (S1). Break here is required to open the way towards to immediate supports at 98.25 (S2) and 98.04 (S3).

Resistance Levels: 99.11, 99.33, 99.54
Support Levels: 98.44, 98.25, 98.04

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

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Forex Technical & Market Analysis FXCC Sep 17 2013

The Fed to maintain forward guidance with firm tone, says Hilsenrath

The Federal Reserve is struggling to justify extending forward guidance as part of its strategy to maintain the recovery path according to Fedwatcher Jon Hilsenrath in his latest article on the FOMC policy meeting. The FOMC is expected to publish its interest rate and monetary policy decision on Wednesday September 18 and market is widely expecting the Fed to start its cut in the bond buying program. The Fedwatcher affirmed in his piece that "Federal Reserve officials face a communication challenge explaining their interest-rate plans when they gather for a policy meeting this week."

Their challenge is "how to justify the low interest-rate plan when their own estimates suggest an economy regaining its health." According to Hilsenrath, Fed forecasts could show "rates rising but still low" by 2016. The Fed also expects economy at "full employment" by the same year. The decision on QE tapering the $85 billion-a-month bond-buying program is now a close call "on whether to start pulling back on the QE." The Fed is now changing its emphasis from bond buying to the "low-rate pledge."
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-17 08:30 GMT : UK Consumer Price Index (YoY) (Jul)
2013-09-17 09:00 GMT : EMU ZEW Survey - Economic Sentiment (Aug)
2013-09-17 12:30 GMT : US Consumer Price Index (YoY) (Aug)
2013-09-17 13:00 GMT : US Net Long-Term TIC Flows (Jul)

FOREX NEWS :
2013-09-17 05:29 GMT : NZD/USD downwards in tandem with “Aussie”
2013-09-17 04:43 GMT : EUR/USD sails below EMA20 - extending trading range
2013-09-17 04:43 GMT : EUR/GBP still under the 0.84 handle ahead of German ZEW & UK CPI
2013-09-17 04:16 GMT : AUD/JPY pops up after RBA minutes

-----------------
EURUSD :
HIGH 1.33422 LOW 1.33252 BID 1.33396 ASK 1.33398 CHANGE 0.04% TIME 08 : 56:12



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Current price setup is looking for upwards extension possibility. Risk of the price acceleration is seen above the key resistance level at 1.3361 (R1). Clearance here would put immediate focus on the next targets at 1.3384 (R2) and then 1.3405 (R3). Downwards scenario: Our next support level is placed at 1.3321 (S1). Possible penetration below it might initiate bearish pressure and gradually push the price towards to our intraday targets at 1.3298 (S2) and 1.3275 (S3).

Resistance Levels: 1.3361, 1.3384, 1.3405
Support Levels: 1.3321, 1.3298, 1.3275

--------------------
GBPUSD :
HIGH 1.59151 LOW 1.58884 BID 1.59091 ASK 1.59098 CHANGE 0.08% TIME 08 : 56:13



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

Upwards scenario: GBPUSD resumed upwards penetration today and we see potential to expose our intraday targets at 1.5996 (R2) and 1.6030 (R3) if the price manages to overcome key resistance measure at 1.5964 (R1). Downwards scenario: Though, we still keep the bearish scenario in focus. Risk of market decline is seen below the key support level at 1.5888 (S1). Loss here would enable initial targets at 1.5853 (S2) and 1.5818 (S3).

Resistance Levels: 1.5964, 1.5996, 1.6030
Support Levels: 1.5888, 1.5853, 1.5818

-------------------------
USDJPY :
HIGH 99.358 LOW 99.009 BID 99.145 ASK 99.147 CHANGE 0.1% TIME 08 : 56:14



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

Upwards scenario: Price strengthening is possible above the next resistance level at 99.36 (R1). Our interim target holds at 99.56 (R2) en route to our final aim for today at 99.77 (R3). Downwards scenario: However if the price manages to break our key support level at 99.00 (S1) bearish market participants might take the initiative. Our intraday support level locates at 98.79 (S2) and 98.58 (S3).

Resistance Levels: 99.36, 99.56, 99.77
Support Levels: 99.00, 98.79, 98.58

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

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Forex Technical & Market Analysis FXCC Sep 18 2013
All eyes on the Fed as investors weigh September taper odds

As the September Fed monetary policy meeting is drawing near, the debate on the FOMC's possible decision to start scaling back the asset purchase program is becoming more and more heated. Recent developments, such as the disappointing August NFP numbers, as well as the ongoing Syrian conflict, have shaken economists' confidence as to whether the QE taper will really be initiated next week. “With a job market 'far from satisfactory' and a promise to adjust monetary policy depending on economic conditions, it would not be a surprise if the Fed postpones the reduction of monthly asset purchases until the next meeting in late October,” Ilian Yotov suggests. Alexandra Estiot also doesn't expect the Fed to make the move at the upcoming meeting, reasoning that “the likeliness of inflation pressures showing up is close to zero,” which means “the cost, in terms of inflation, of ending QE3 too late is nil, while the benefits, even if very difficult to clearly assess, are positive.” Despite the doubts about whether the Fed will start reducing QE in September, all of the economists agree with Steve Ruffley that the FOMC “are planning to taper by the end of the year and nothing will change this.”
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-18 08:30 GMT | Bank of England Minutes
2013-09-18 18:00 GMT | US Fed Interest Rate Decision
2013-09-18 18:30 GMT | US Fed's Monetary Policy Statement and press conference
2013-09-18 22:45 GMT | NZ Gross Domestic Product (YoY) (Q2)

FOREX NEWS :
2013-09-18 05:21 GMT | USD/CHF muted ahead of FOMC minutes
2013-09-18 05:05 GMT | EUR/USD rebounds from ST dip but remains below 1.3432 ceiling ahead of US data / news
2013-09-18 04:58 GMT | EUR/GBP battling to recover the 0.84 handle ahead of BoE
2013-09-18 04:32 GMT | GBP/USD holding below the flat line ahead of BOE minutes and FOMC fun


-------------------------
EURUSD :
HIGH 1.33639 LOW 1.33468 BID 1.33619 ASK 1.33621 CHANGE 0.03% TIME 08 : 43:12



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD trapped to the consolidation mode on the hourly chart frame after the initial uptrend formation. Next resistive barrier is seen at 1.3384 (R1), break here is required to enable next attractive points at 1.3405 (R2) and 1.3427 (R3). Downwards scenario: Yesterday low offers a key supportive measure at 1.3324 (S1). A violation here is liable to commence correction pattern on the bigger picture and expose our initial targets at 1.3301 (S2) and 1.3275 (S3).

Resistance Levels: 1.3384, 1.3405, 1.3427
Support Levels: 1.3324, 1.3301, 1.3275

----------------------
GBPUSD :
HIGH 1.59146 LOW 1.58919 BID 1.59133 ASK 1.59136 CHANGE 0.07% TIME 08 : 43:13



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

Upwards scenario: Local high offers a key resistive barrier at 1.5936 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.5971 (R2) and 1.6008 (R3) in potential. Downwards scenario: On the other hand, depreciation below the support level at 1.5885 (S1) would suggest next intraday target at 1.5851 (S2) and any further weakening would then be limited to final support level at 1.5816 (S3).

Resistance Levels: 1.5936, 1.5971, 1.6008
Support Levels: 1.5885, 1.5851, 1.5816

-------------------
USDJPY :
HIGH 99.336 LOW 99.103 BID 99.194 ASK 99.197 CHANGE 0.08% TIME 08 : 43:13



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

Upwards scenario: Possible bullish penetration might face next challenge at 99.38 (R1). Break here would suggest next target at 99.58 (R2) en route towards to last resistance for today at 99.77 (R3). Downwards scenario: On the downside, we see potential to positively retest our supportive measure at 99.03 (S1). Clearance here is required to open route towards to our initial targets at 98.84 (S2) and 98.64 (S3) in potential.

Resistance Levels: 99.38, 99.58, 99.77
Support Levels: 99.03, 98.84, 98.64

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

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Forex Technical & Market Analysis FXCC Sep 19 2013

The Fed decides to maintain the status quo; No taper

The Federal Reserve has decided to maintain its interest rate unchanged at 0.25%. Same story with the bond buying pace at $85Bn as officials need more information that the economy is growing at a sustainable pace. According to a recent press release, the Fed affirms that the pace of bond purchases depends on the economic outlook. The inflation is still low, financial market conditions are tight while the fiscal retrenchment could be damaging, so the FOMC needs more signs of progress.

"Accordingly, the Committee decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month." The Fed has lowered its growth expectations and now officials forecast the US GDP to slowdown in 2016 to 2.5%-3.3% range, from 3.0%-3.5% in 2014. They see 2013 to show a 2.0%-2.3% growth in the United States. The unemployment rate is expected to finish the year around 7.2%-7.3% and to decline to 6.5%-6.8% in 2014, 5.8%-6.2% in 2015 and 5.4%-5.9% in 2016.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-19 07:30 GMT | SW SNB Interest Rate Decision
2013-09-19 08:30 GMT | UK Retail Sales (YoY) (Aug)
2013-09-19 14:00 GMT | US Existing Home Sales Change (MoM) (Aug)
2013-09-19 23:50 GMT | JP Foreign investment in Japan stocks (Sep 13)

FOREX NEWS :
2013-09-19 04:52 GMT | USD licking its wounds; China markets closed
2013-09-19 04:34 GMT | USD/CHF slightly lower at 0.9119 ahead of big data; ultimate dowside may be 0.9073
2013-09-19 04:33 GMT | Fed relies heavily on low yields regarding “tapering” – RBS
2013-09-19 04:18 GMT | AUD/USD slightly downwards but still dancing close to 0.9500 area

----------
EURUSD :
HIGH 1.3536 LOW 1.3501 BID 1.35318 ASK 1.35320 CHANGE 0.08% TIME 08 : 40:15



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Medium-term bias is clearly bullish oriented, however, to resume ascending structure price is required to clear the barrier at 1.3543 (R1). Next on tap locates our intraday targets at 1.3567 (R2) and 1.3593 (R3).Downwards scenario: On the other hand, our next support measure lies at 1.3499 (S1). Decline below it would enable lower targets at 1.3474 (S2) and 1.3448 (S3).

Resistance Levels: 1.3543, 1.3567, 1.3593
Support Levels: 1.3499, 1.3474, 1.3448

-------------------
GBPUSD :
HIGH 1.61478 LOW 1.61146 BID 1.61302 ASK 1.61307 CHANGE -0.08% TIME 08 : 40:16



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

Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.6168 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.6215 (R2) and 1.6264 (R3). Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.6089 (S1). Possible price devaluation would suggest initial targets at 1.6040 (S2) and then 1.5989 (S3).

Resistance Levels: 1.6168, 1.6215, 1.6264
Support Levels: 1.6089, 1.6040, 1.5989

----------------------
USDJPY :
HIGH 98.475 LOW 97.897 BID 98.280 ASK 98.282 CHANGE 0.37% TIME 08 : 40:16



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

Upwards scenario: USDJPY is approaching our next resistance level at 98.51 (R1), keeping the short-term ascending structure intact. The break here is required for the price appreciation towards to next target at 98.86 (R2) and any further rise would then be targeting to 99.21 (R3). Downwards scenario: Negative developments might be settled below the important support level at 97.76 (S1). Any price action below it would then be targeting support level at 97.46 (S2) and then final target could be exposed at 97.14 (S3).

Resistance Levels: 98.51, 98.86, 99.21
Support Levels: 97.76, 97.46, 97.14


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

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Forex Technical & Market Analysis FXCC Sep 20 2013

Asset purchase schemes remaining static.

As the tide went out on the shock decision by the FOMC regarding their asset purchase schemes remaining static, the markets in the USA appeared to pause for thought in Thursday's trading sessions. Looking at high impact news events the improved unemployment data was discounted given the fact that two states, including California, failed to proved jobs data as their computer systems were still off grid. Better news came in the form of house sales reaching a recent high, whilst the Philly Fed number came in off the scale in terms of positivity. The improved housing market news was added to by costs for U.S. home buyers predicted to fall from the highest level in two years after the Federal Reserve increased expectations that it will keep short-term interest rates at about zero percent. Rates on 30-year mortgages reached 4.93 percent in the week ended Sept 6th, the highest level seen since April 2011 and up from a record low of 3.57 percent in December, according to Mortgage Bankers Association data. The rate declined to 4.86 percent last week. Treasuries dropped the day after experiencing the biggest rally in two years as improved economic conditions made investors more certain that the Federal Reserve’s next move will be to reduce monetary stimulus. The 10-year yield rose six basis points or 0.06 percentage point to 2.75 percent late in the New York session. The price of the 2.5 percent note maturing in August 2023 dropped 17/32, or, $5.31 per $1,000 face value, to 97 26/32. The yield slid 16 basis points on Wednesday, the biggest decline since Oct 31st 2011.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-20 08:30 GMT | UK Public Sector Net Borrowing (Aug)
2013-09-20 12:30 GMT | CA Consumer Price Index (YoY) (Aug)
2013-09-20 14:00 GMT | EMU Consumer Confidence (Sep)
2013-09-20 16:30 GMT | US Fed's George Speech

FOREX NEWS :
2013-09-20 05:18 GMT | RBA likely to ease again; AUD to trade heavy - NAB
2013-09-20 05:15 GMT | GBP/USD bouncing modestly at 1.6042 after downside correction day Thursday
2013-09-20 05:11 GMT | GBP/JPY finds strong supply at 160 round
2013-09-20 04:38 GMT | EUR/GBP stalling below 0.8450 ahead of Germany elections

---------------------
EURUSD :
HIGH 1.35393 LOW 1.35279 BID 1.35354 ASK 1.35357 CHANGE 0.05% TIME 08 : 47:18



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Next hurdle that limit uptrend development lies at 1.3569 (R1). If the break occurs here we would suggest next attractive point at 1.3598 (R2) and any further rise would then be limited to final resistance at 1.3628 (R3). Downwards scenario: We placed our support level right below the local low at 1.3507 (S1). Clearance here is liable to open way towards to our interim target at 1.3474 (S2) and then might expose final aim at 1.3440 (S3).

Resistance Levels: 1.3569, 1.3598, 1.3628
Support Levels: 1.3507, 1.3474, 1.3440

---------------------
GBPUSD :
HIGH 1.60462 LOW 1.60238 BID 1.60450 ASK 1.60454 CHANGE 0.09% TIME 08 : 47:19



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

Upwards scenario: Immediate resistance at 1.6082 (R1) remains in near-term focus, climb above this level might open way towards to next interim target at 1.6126 (R2) and any further rise would then be limited to final resistive measure at 1.6170 (R3) Downwards scenario: On the downside, next support level locates at 1.6021 (S1). Possible penetration below this mark would open way towards to next target at 1.5978 (S2) and then any further market decline would be limited to last mark at 1.5933 (S3).

Resistance Levels: 1.6082, 1.6126, 1.6170
Support Levels: 1.6021, 1.5578, 1.5933


USDJPY :
HIGH 99.562 LOW 99.174 BID 99.253 ASK 99.257 CHANGE -0.22% TIME 08 : 47:20



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

Upwards scenario: Possible uptrend development is limited now to the next resistive measure at 99.63 (R1). Clearance here is required to enable our interim target at 99.85 (R2) en route to final aim at 100.06 (R3). Downwards scenario: Penetration below the support level at 99.10 (S1) might maintain a negative tone in near term perspective. In such case we would suggest next supportive measures at 98.87 (S2) and 98.64 (S3) as possible retracement targets.

Resistance Levels: 99.63, 99.85, 100.06
Support Levels: 99.10, 98.87, 98.64

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

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Forex Technical & Market Analysis FXCC Sep 23 2013

Merkel wins German election, arduous coalition talks ahead...

Asian traders bought up the Euro through interbank trading, following early evidence of what later was confirmed as the best result for Merkel's conservative party in a general election since 1990, with the Chancellor receiving around 42% of all votes to keep her post as one of the most powerful women on the globe for a third term. Despite the early enthusiasm, the excitement faded pretty quick, with traders deciding to be sidelined as Merkel still faces a tough road ahead, now having to engage on coalition negotiation to form a government - a process which may take weeks if not months - after Mekel's CDU fell very short from claiming an absolute majority.

As the quiet Asian session advanced, and with the Tokyo market closed due to public holidays, the only relevant headline to outline was the Chinese HSBC PMI, which came at a 6-month high, supporting the Australian Dollar across the board. On the commodity arena, metals were hammered yet again, following Fed's Bullard comments on Friday, which triggered the 'taper trade' again, after saying that the October FOMC meeting was still 'live' in terms of tapering.-FXstreet.com
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-23 07:28 GMT | DE Markit Services PMI (Sep)
2013-09-23 07:58 GMT | EMU Markit Manufacturing PMI (Sep)
2013-09-23 12:58 GMT | US Markit Manufacturing PMI (Oct)
2013-09-23 13:00 GMT | ECB President Draghi's Speech

FOREX NEWS :
2013-09-23 05:18 GMT | EUR/USD still indecisive just above flat line; 1.3534 is the level to conquer for the bulls
2013-09-23 05:02 GMT | GBP/JPY upwards amidst of a Tokyo-holiday session
2013-09-23 04:33 GMT | USD/CHF finishes “abc” upside correction at 0.9122; headed lower
2013-09-23 03:56 GMT | USD/JPY bracing for takeoff?

----------------
EURUSD :
HIGH 1.35459 LOW 1.35202 BID 1.35293 ASK 1.35297 CHANGE 0.02% TIME 08 : 40:09



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Technically, next resistive structure lies at 1.3549 (R1). Break here is required to initiate upwards action towards to next target at 1.3583 (R2) and then final aim could be exposed at 1.3618 (R3). Downwards scenario: On the other hand, current range pattern on the hourly chart suggest possible retest of our supportive measure at 1.3507 (S1). Break here is required to open way towards to initial targets at 1.3474 (S2) and 1.3440 (S3).

Resistance Levels: 1.3549, 1.3583, 1.3618
Support Levels: 1.3507, 1.3474, 1.3440

--------------------
GBPUSD :
HIGH 1.60314 LOW 1.59929 BID 1.60220 ASK 1.60224 CHANGE 0.09% TIME 08 : 40:10



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

Upwards scenario: On the upside resistive structure at 1.6044 (R1) prevents possible gains. Clearance here is required to open route towards to next target at 1.6075 (R2) and then final target could be triggered at 1.6106 (R3). Downwards scenario: Local low offers a key support level on the downside. A dip below the 1.5987 (S1) would suggest next intraday targets at 1.5956 (S2) and potentially 1.5925 (S3).

Resistance Levels: 1.6044, 1.6075, 1.6106
Support Levels: 1.5987, 1.5956, 1.5925

------------------
USDJPY :
HIGH 99.359 LOW 99.084 BID 99.117 ASK 99.119 CHANGE -0.2% TIME 08 : 40:11



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

Upwards scenario: Any upside actions looks limited now to resistive measure at 99.36 (R1). Break here is required to enable uptrend formation towards to higher target at 99.55 (R2). Final aim for today locates at 99.74 (R3). Downwards scenario: Fresh low formed today offers an important resistive measure at 99.04 (S1). Break here is required to drive market price towards to next visible targets at 98.86 (S2) and 98.69 (S3) later on today.

Resistance Levels: 99.36, 99.55, 99.74
Support Levels: 99.04, 98.86, 98.69

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

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Forex Technical & Market Analysis FXCC Sep 24 2013

A tale of three central banks

Two European central bank presidents spoke on Monday concerning their overall relative responsibilities. European Central Bank President Mario Draghi said he’s prepared to release another long-term refinancing operation in order to provide funds to Europe’s banking system if and when needed. Unlike previous times after Mr Draghi has held court, the market reaction this time was muted. The Swiss franc is still highly valued and the central bank’s currency ceiling remains essential for safeguarding the economy, according to Swiss National Bank President Thomas Jordan in his statement on Monday. Therefore the loose peg, in relation to the value of the Swiss franc versus the euro, at circa 120, will remain in force until conditions change. The U.S. currency fell versus the majority of its sixteen major peers as a consequence of the Bank of Atlanta President Dennis Lockhart and others stating that Fed policy should focus on creating a more dynamic economy. Lockhart has continually backed the Fed’s $85 billion in monthly bond purchases that were retained last week.
http://blog.fxcc.com/market-analysis


FOREX ECONOMIC CALENDAR :
2013-09-24 08:00 GMT | DE IFO - Business Climate (Sep)
2013-09-24 12:30 GMT | CA Retail Sales (MoM) (Jul)
2013-09-24 14:00 GMT | US Consumer Confidence (Sep)
2013-09-24 22:45 GMT | NZ Trade Balance (YoY) (Aug)

FOREX NEWS :
2013-09-24 05:16 GMT | EUR/USD churning above support of 1.3476 ahead of German data
2013-09-24 05:01 GMT | EUR/GBP struggles to maintain the 0.8400 support
2013-09-24 04:42 GMT | GBP/USD off slightly Tuesday after brief rally Monday; key support 1.5894
2013-09-24 03:59 GMT | USD/JPY pulling back away from 99.52 resistance as Yen sees safety inflows


--------------------
EURUSD :
HIGH 1.34985 LOW 1.3489 BID 1.34953 ASK 1.34955 CHANGE 0.02% TIME 08 : 47:25



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Appreciation above the resistance at 1.3517 (R1) might commence new step of the ascending structure. Our intraday targets today are placed at 1.3538 (R2) and 1.3560 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the next support level at 1.3478 (S1), only clear break here would be a signal of further market easing towards to next targets at 1.3458 (S2) and 1.3437 (S3) in potential.

Resistance Levels: 1.3517, 1.3538, 1.3560
Support Levels: 1.3478, 1.3458, 1.3437

---------------------------
GBPUSD :
HIGH 1.60443 LOW 1.60252 BID 1.60256 ASK 1.60261 CHANGE -0.1% TIME 08 : 47:26



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

Upwards scenario: Market price penetrated below the moving averages and likely close at the negative side today. Our next resistive measure lies at 1.6054 (R1), break here is required to achieve higher targets at 1.6083 (R2) and 1.6109 (R3). Downwards scenario: Possible market weakening is protected by important technical level at 1.6016 (S1). Break here is required to open road towards to interim target at 1.5989 (S2) en route to final aim at 1.5962 (S3).

Resistance Levels: 1.6054, 1.6083, 1.6109
Support Levels: 1.6016, 1.5989, 1.5962

-------------------
USDJPY :
HIGH 98.93 LOW 98.662 BID 98.921 ASK 98.923 CHANGE 0.08% TIME 08 : 47:27



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

Upwards scenario: We expect possible upwards penetration. Break above the resistance at 98.93 (R1) would clear the way towards to higher target at 99.10 (R2). Further price appreciation would face then final resistive measure at 99.27 (R3) Downwards scenario: Our next support level locates at 98.63 (S1) mark. Possible penetration below this level would open way towards to next target at 98.47 (S2) and then final aim lie at 98.31 (S3) price level.

Resistance Levels: 98.93, 99.10, 99.27
Support Levels: 98.63, 98.47, 98.31

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

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Forex Technical & Market Analysis FXCC Sep 25 2013

Aussie, kiwi heavy; Tokyo stained with red

Asian traders were rather inactive at the early going of Tokyo, with some Yen strength the main theme, yet as the session advanced, Aussie weakness also became dominant. In the US, following an uncertain and uneven Wall Street session after Fed’s comments on indefinite timing for bond-buying program, Asia registered mixed results in equity indexes with the Nikkei down 0.39%, pushing the yen higher. In New Zealand, the trade deficit expanded from $-771M to $-1191M beating estimates, for the worse, at $-743M. In Australia, the RBA said the banking system is liquid and in good shape and added the housing market data is strong and yet the Aussie remained heavy with slow progress upward.

Japan prepared for the tankan results next week and market participants remain on their feet to any governmental decision to increase the sales taxes as Prime Minister Abe announce a potential increase based on tankan results despite the Spring 2014 plans to proceed with the monetary policies. In the futures contracts realm, all metals printed gains with notably copper advancing on positive Chinese consumer data along with gold registering gains worth 0.66% for the first time in the week to reach $1,325.00.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-25 06:00 GMT | DE Gfk Consumer Confidence Survey (Oct)
2013-09-25 10:00 GMT | UK CBI Distributive Trades Survey - Realized (MoM) (Sep)
2013-09-25 12:30 GMT | US Durable Goods Orders (Aug)
2013-09-25 14:00 GMT | US New Home Sales (MoM) (Aug)

FOREX NEWS :
2013-09-25 05:05 GMT | EUR/USD threatening Tuesday low of 1.3463 ahead of Europe open
2013-09-25 04:47 GMT | USD/JPY has downside risks in coming months - JPMorgan
2013-09-25 04:24 GMT | AUD/USD is falling as “debt-ceiling” issue looms out
2013-09-25 03:36 GMT | Gold rallies off Tuesday low at 1305.50, but runs into wall at 1326.80

-------------------
EURUSD
HIGH 1.34809 LOW 1.34619 BID 1.34719 ASK 1.34722 CHANGE -0.01% TIME 08 : 47:09



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Next resistive barrier locates at 1.3497 (R1). Violation here is required to provide a signal of further market strengthening. In such case, resistances at 1.3520 (R2) and 1.3542 (R3) acts as next attractive points for the bullish oriented traders. Downwards scenario: Further correction development might face next hurdle at 1.3458 (S1). Break here is required to open road towards to our next interim target at 1.3437 (S2), en route to final aim at 1.3415 (S3).

Resistance Levels: 1.3497, 1.3520, 1.3542
Support Levels: 1.3458, 1.3437, 1.3415

-------------------
GBPUSD :
HIGH 1.60039 LOW 1.59794 BID 1.59904 ASK 1.59911 CHANGE -0.07% TIME 08 : 47:09



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

Upwards scenario: A violation of next resistance at 1.6021 (R1) might call for a run towards to next target at 1.6060 (R2) and any further appreciation would then be limited to final target at 1.6097 (R3). Downwards scenario: As long as price stays below the 20 SMA our technical outlook would be negative. Extension lower the key support level at 1.5954 (S1) is being able to drive market price towards to our next targets at 1.5912 (S2) and 1.5870 (S3).

Resistance Levels: 1.6021, 1.6060, 1.6097
Support Levels: 1.5954, 1.5912, 1.5870

-----------------
USDJPY :
HIGH 98.798 LOW 98.557 BID 98.680 ASK 98.682 CHANGE -0.06% TIME 08 : 47:10



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

Upwards scenario: Neutral tone remains favored on the hourly chart frame, however possible extension above the resistive measure at 98.92 (R1) would suggest next intraday targets at 99.07 (R2) and 99.21 (R3). Downwards scenario: On the other hand, new phase of downtrend formation might commence below the important support level at 98.56 (S1). Break here is required to validate our targets at 98.41 (S2) and 98.26 (S3) later on today.

Resistance Levels: 98.92, 99.07, 99.21
Support Levels: 98.56, 98.41, 98.26

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

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Forex Technical & Market Analysis FXCC Sep 26 2013

SPX drop longest since 'fiscal cliff' debacle of December 2012

The SPX has dropped over 1.9 percent during the past five trading days as investors remain cautious as to whether or not the pending government shutdown will eventually harm USA economic growth. The current fall is now the longest witnessed on the index since Dec 28th 2012, when USA lawmakers clashed over the impending automatic spending cuts and tax increases known as the "fiscal cliff". Sterling advanced 0.4 percent to $1.6070 late in the London session after rising to $1.6163 on Sept 18th, which was the highest level seen since Jan 11th. The U.K. currency was little changed at 84.22 pence per euro after appreciating to 83.53 pence on Sept 18th, the strongest level seen since Jan 17th. Sterling strengthened towards its eight-month high versus the dollar after a gauge of U.K. retail sales from the UK's CBI increased in September, adding to signs the U.K. economy is improving, slowly. Sterling rose versus all of its 16 major counterparts before a report today that analysts believe will confirm that the U.K. economy expanded last quarter by the estimated 0.7%. The pound has in fact been the best performer during the past six months, appreciating 5.8 percent versus the dollar.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-26 08:30 GMT | UK Gross Domestic Product (YoY) (Q2)
2013-09-26 12:30 GMT | US Gross Domestic Product Annualized (Q2)
2013-09-26 14:00 GM | US Pending Home Sales (YoY) (Aug)
2013-09-26 23:30 GMT | JP National CPI Ex Food, Energy (YoY) (Aug)

FOREX NEWS :
2013-09-26 05:37 GMT | USD/JPY surges as Nikkei cracks the 14,500
2013-09-26 05:36 GMT | EUR/USD gathering steam for another upside move ahead of European
2013-09-26 04:28 GMT | GBP/USD consolidating big gains from Wednesday; first support 1.6046
2013-09-26 03:17 GMT | GBP/JPY propelled to 159.27 highs

-------------------
EURUSD
HIGH 1.35306 LOW 1.35116 BID 1.35209 ASK 1.35213 CHANGE -0.03% TIME 08 : 47:50



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: An element of resistive measures could be found at 1.3538 (R1). Clearance here would suggest further uptrend development towards to our interim target at 1.3562 (R2). Final aim locates today at 1.3584 (R3). Downwards scenario: On the other side, depreciation below the support barrier at 1.3507 (S1) might provide sufficient space for the recovery action. In such case we would suggest next intraday targets at 1.3483 (S2) and then 1.3459 (S3).

Resistance Levels: 1.3538, 1.3562, 1.3584
Support Levels: 1.3507, 1.3483, 1.3459

----------------
GBPUSD
HIGH 1.60865 LOW 1.60671 BID 1.60771 ASK 1.60775 CHANGE -0.01% TIME 08 : 47:51



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

Upwards scenario: On the upside, fractals level at 1.6090 (R1) offers an important resistive structure. Any penetration above that level would suggest next intraday targets at 1.6114 (R2) and 1.6137 (R3). Downwards scenario: On the other hand, our bearish expectations remain intact below the key support level at 1.6055 (S1). Price penetration below it would allow further declines towards to lower targets at 1.6031 (S2) and 1.6006 (S3).

Resistance Levels: 1.6090, 1.6114, 1.6137
Support Levels: 1.6055, 1.6031, 1.6006

-----------------
USDJPY
HIGH 99.11 LOW 98.269 BID 98.893 ASK 98.896 CHANGE 0.47% TIME 08 : 47:52



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

Upwards scenario: Market remains relatively stable above the moving averages. Clearance of next resistance level at 99.11 (R1) might initiates bullish pressure and expose our intraday targets at 99.26 (R2) and 99.42 (R3) later on today. Downwards scenario: Clearance of our support at 98.68 (S1) is required to determine negative intraday bias and enable lower target at 98.51 (S2) and then any further market depreciation would suggest final aim at 98.34 (S3).

Resistance Levels: 99.11, 99.26, 99.42
Support Levels: 98.68, 98.51, 98.34

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

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Forex Technical & Market Analysis FXCC Sep 27 2013

USA Congress still at odds over debt ceiling

Despite the hope that the USA will eventually agree a new debt ceiling, U.S. Congress has failed to pass the necessary budget, Republicans and Democrats continue to disagree over whether to stop funding the 2010 health-care initiative known as Obamacare, thereby threatening a a government shutdown by Oct 1st. Equities rose in Thursday's trading sessions, with the Standard & Poor’s 500 Index rising by 0.4 percent to 1,698.67 at the close in the New York session. The yield on the 10-year Treasury note also climbed two basis points, or 0.02 percentage point, to 2.65 percent. Other data sets published on Thursday may have confirmed that the USA economy improved in the second quarter of 2013, however, positive GDP numbers were countered by fewer Americans signing contracts to buy previously owned homes in August. USA GDP rose at a 2.48% percent annual rate, unrevised from the previous estimate, after expanding 1.1 percent in the first quarter, the USA Commerce Department reported. The index of pending home sales fell 1.6 percent, the recent rise in mortgage rates slowing momentum in the housing market, according to figures from the National Association of Realtors.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-27 12:00 GMT | DE.Harmonised Index of Consumer Prices (YoY) (Sep)Preliminar
2013-09-27 12:00 GMT | DE.Consumer Price Index (MoM) (Sep)Preliminar
2013-09-27 12:30 GMT | US.Personal Spending (Aug)
2013-09-27 12:30 GMT | US.Personal Income (MoM) (Aug)

FOREX NEWS :
2013-09-27 05:01 GMT | EUR/CHF at six-week low
2013-09-27 04:02 GMT | EUR/USD under pressure on Italian political uncertainty
2013-09-27 02:53 GMT | AUD/JPY dives to 92.13 bottoms
2013-09-27 02:37 GMT | EUR/JPY cracks down to 133.02 lows


EURUSD :
HIGH 1.3491 LOW 1.34742 BID 1.34868 ASK 1.34871 CHANGE -0.01% TIME 08 : 11:57



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Resistance level at 1.3504 (R1) acts as reference point for further market strengthening. Break here is required to enable next interim target at 1.3523 (R2) en route towards to final aim for today at 1.3542 (R3). Downwards scenario: Next challenge on the downside is seen at 1.3472 (S1). Breakthrough of this mark would open way for a downside expansion and could possibly trigger our initial targets at 1.3452 (S2) and 1.3435 (R3) later on today.

Resistance Levels: 1.3504, 1.3523, 1.3542
Support Levels: 1.3472, 1.3452, 1.3435


GBPUSD :
HIGH 1.60532 LOW 1.603 BID 1.60506 ASK 1.60511 CHANGE 0.06% TIME 08 : 11:57



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

Upwards scenario: Our attention on the upside is put to the next resistive barrier at 1.6139 (R1). Break here is required to stimulate bullish forces to expose initial targets at 1.6170 (R2) and 1.6206 (R3) later on today. Downwards scenario: We do expect some pull-backs development on the downside below the support level at 1.6030 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 1.6000 (S2) and 1.5964 (S3).

Resistance Levels: 1.6139. 1.6170, 1.6206
Support Levels: 1.6030, 1.6000, 1.5964

-----------------------
USDJPY :
HIGH 99.04 LOW 98.624 BID 98.634 ASK 98.636 CHANGE -0.34% TIME 08 : 11:58



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

Upwards scenario: Market remains sideways oriented. Next hurdle on the upside might be found at 99.05 (R1). Break here would open road towards to our interim aim at 99.33 (R2) and enable final intraday resistive measure at 99.58 (R3). Downwards scenario: On the other hand, our next support level aligns at 98.56 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 98.25 (S2) and 97.97 (S3).

Resistance Levels: 99.05, 99.33, 99.58
Support Levels: 98.56, 98.25, 97.97

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

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Forex Technical & Market Analysis FXCC Sep 30 2013

Equity index futures fall sharply, USA Government shutdown approaches as lawmakers fail to broker agreement

Concerns that the budget stalemate, at the heart of the USA government, will affect economic growth caused the Standard & Poor’s 500 Index to experience its first weekly drop since August. The index dropped 1.1 percent last week. The rate on 10-year Treasury notes fell three basis points to 2.62 percent. Equity index futures took a substantial hit immediately the market opened Sunday evening; the DJIA down 0.72% - with the critical level of 15,000 back on the radar. The SPX was down 0.79%. European equity index futures also took an immediate hit, with UK FTSE down 0.77% and the MIB down 1.25%. The dollar and the euro fell sharply in early trade on Sunday evening, the greenback falling by 0.5% versus yen. Being perceived as a safe haven yen also rose versus the euro, loonie, Aussie, sterling and the Swiss franc amongst the major peers. In a USA government shutdown, essential operations with dedicated funding would continue. A shutdown could reduce fourth-quarter economic growth by as much as 1.4 percentage points according to economists. The biggest effect would come from the output lost from temporarily laid off workers.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-09-30 09:00 GMT | EMU Consumer Price Index - Core (YoY) (Sep)
2013-09-30 12:30 GMT | CA Gross Domestic Product (MoM) (Jul)
2013-09-30 13:45 GMT | US Chicago Purchasing Managers' Index (Sep)
2013-09-30 23:30 GMT | JP Unemployment Rate (Aug)

FOREX NEWS :
2013-09-30 05:30 GMT | AUD/USD off the session lows; 0.9282 is last hope for bulls
2013-09-30 04:48 GMT | USD/CHF under pressure on US government close “jitters”
2013-09-30 03:52 GMT | USD/JPY starting to weaken after bouncing around after Japanese data
2013-09-30 03:06 GMT | NZD/USD down, but holding its own unlike many other “risk currencies”

------------------
EURUSD :
HIGH 1.35067 LOW 1.34774 BID 1.34980 ASK 1.34983 CHANGE -0.18% TIME 08 : 38:12



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Price comfortably ranging on the hourly chart, however we see potential to overcome our next resistive barrier at 1.3512 (R1) later on today. Any prolonged movement above it would suggest next intraday targets at 1.3530 (R2) and 1.3550 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.3471 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.3454 (S2) and 1.3437 (S3)

Resistance Levels: 1.3512, 1.3530, 1.3550
Support Levels: 1.3471, 1.3454, 1.3437

------------------
GBPUSD :
HIGH 1.61812 LOW 1.61387 BID 1.61646 ASK 1.61654 CHANGE 0.17% TIME 08 : 38:12



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

Upwards scenario: Measures of resistance might be activating when the pair approaches 1.6180 (R1). Break here would suggest next interim target at 1.6210 (R2) and If the pair keeps its momentum we would expect an exposure of 1.6238 (R3). Downwards scenario: Risk of market weakening is seen below the support level at 1.6139 (S1). Loss here is required to enable our supportive barrier at 1.6111 (S2) en route towards to final target for today at 1.6083 (S3).

Resistance Levels: 1.6180, 1.6210, 1.6238
Support Levels: 1.6139, 1.6111, 1.6083

------------------------
USDJPY :
HIGH 98.054 LOW 97.674 BID 97.910 ASK 97.913 CHANGE -0.32% TIME 08 : 38:13



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

Upwards scenario: Upside formation is limited now to the next resistive barrier at 98.09 (R1). Clearance here is required to provide a space for a move towards to next target at 98.29 (R2) and then final aim could be found at 98.50 (R3). Downwards scenario: Successful retest of our next support level at 97.66 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 97.46 (S2) and then final aim for today could be exposed at 97.26 (S3).

Resistance Levels: 98.09, 98.29, 98.50
Support Levels: 97.66, 97.46, 97.26

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

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Forex Technical & Market Analysis FXCC Oct 01 2013

The US government shutdown - truth or dare

Early in the overnight/early morning session we'll have received the RBA decision regarding the base rate for Australia, this will be accompanied by a statement concerning the decision, which is expected to keep the current rate at 2.5%. The U.S. government looks set for its first partial shutdown in over 17 years, with no signs of compromise from the Congress or the White House. The U.S. has had 17 funding gaps from 1977 to 1996. In 1995 and 1996, interruptions lasted from Nov 14th to Nov 19th and from Dec 16th to Jan 6th, as Republicans led by House Speaker Newt Gingrich clashed with President Bill Clinton. Equity index futures are down on the USA equity markets, the DJIA equity index future is down 0.98 at the time of writing, leaving the index at 15046, very close to the critical 15,000 level. SPX equity index future is down 0.62%. European equity index futures are mainly in the red, STOXX down 0.9%, FTSE down 0.79% and the DAX down 0.87%. The U.S. Dollar Index, tracking the performance of a basket of the 10 leading global currencies versus the dollar, fell for a second trading-day, declining by 0.1 percent to 1,011.85 late in the New York session, after weakening by as much as 0.2 percent. The yen was little changed at 98.30 per dollar after touching 97.50, the strongest level since Aug 29th. Japan’s currency fell 0.1 percent to 132.93 versus the euro after appreciating to 131.38, the strongest level witnessed since Sept 9th. The euro was little changed at $1.3527.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-10-01 09:00 GMT | EU.EMU Unemployment Rate (Aug)
2013-10-01 12:58 GMT | US. Markit Manufacturing PMI (Oct)
2013-10-01 14:00 GMT | US. Construction Spending (MoM) (Aug)
2013-10-01 14:00 GMT | US. ISM Manufacturing PMI (Sep)

FOREX NEWS :
2013-10-01 05:18 GMT | AUD/JPY continues short-term upside following Aussie rate decision and comments
2013-10-01 04:39 GMT | EUR/USD eyes 1.3550 as shutdown kicks in
2013-10-01 04:31 GMT | USD/JPY slipping and sliding now that US government shutdown is a reality
2013-10-01 04:01 GMT | GBP/USD is spiking as the Senate votes down the House spending bill

---------------------
EURUSD :
HIGH 1.35519 LOW 1.35174 BID 1.35448 ASK 1.35452 CHANGE 0.14% TIME 08 : 24:34



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Next resistance level is seen at 1.3555 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.3578 (R2) and 1.3600 (R3) in potential. Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 1.3517 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 1.3472 (S2) and 1.3435 (S3).

Resistance Levels: 1.3555, 1.3578, 1.3600
Support Levels: 1.3517, 1.3472, 1.3435

--------------------
GBPUSD :
HIGH 1.62465 LOW 1.61823 BID 1.62370 ASK 1.62374 CHANGE 0.32% TIME 08 : 24:35



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

Upwards scenario: The local peak at 1.6247 (R1) offers an important resistive level. Any penetration above it might shift the balance to the bullish side and validate our intraday targets at 1.6279 (R2) and 1.6308 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.6207 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.6180 (S2) and 1.6139 (S3).

Resistance Levels: 1.6247, 1.6279, 1.6308
Support Levels: 1.6207, 1.6180, 1.6139

---------------------------
USDJPY :
HIGH 98.728 LOW 98.031 BID 98.124 ASK 98.129 CHANGE -0.09% TIME 08 : 24:36



OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Neutral
IMPLIED VOLATILITY : Medium

Upwards scenario: Break above the next resistance level at 98.56 (R1) is required to generate upside action and trigger our intraday targets at 98.81 (R2) and 99.05 (R3). Downwards scenario: Further correction development is limited now to the session low - 97.95 (S1). If the price manages to surpass it we would suggest next intraday targets at 97.63 (S2) and 97.30 (S3).

Resistance Levels: 98.56, 98.81, 99.05
Support Levels: 97.95, 97.63, 97.30

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

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Forex Technical & Market Analysis FXCC Oct 02 2013

Ben Bernanke may delay taper if shut down impasse continues

The Swiss franc appears to have become the safe haven currency of choice during the USA partial govt. shutdown. The Swiss franc rose to its highest level versus the dollar in nineteen months as a partial shutdown of the U.S. government increased demand for Switzerland’s currency as a safe haven currency. The franc is typically sought by investors seeking safety at times of heightened global stress and it climbed versus all but two of its 16 major currency peers during Tuesday's trading sessions. Versus the USD it strengthened through 90 cents per dollar for the first time since Feb. 29, 2012. The Swiss currency rose 0.3 percent to 90.23 centimes per dollar at 10:50 a.m. in Zurich, after rising to as much as 89.93 centimes. Versus the euro it was little changed at 1.2225. The dollar traded at close to its lowest level seen since February as the partial shutdown of the U.S. government increased speculation that the Federal Reserve will persevere with its asset purchases, therefore weakening the currency. The U.S. currency was little changed at $1.3526 per euro after depreciating to $1.3588, the weakest level seen since Feb 6th. The yen gained by 0.3 percent to 98 per dollar and climbed 0.3 percent to 132.55 per euro.

FOREX ECONOMIC CALENDAR :
2013-10-02 11:45 GMT | ECB Interest Rate Decision
2013-10-02 12:30 GMT | ECB Monetary policy statement and press conference
2013-10-02 19:30 GMT | US Fed's Bernanke Speech
2013-10-02 23:50 GMT | JP Foreign investment in Japan stocks

FOREX NEWS :
2013-10-02 04:48 GMT | EUR/USD sitting on the fence ahead of ECB
2013-10-02 04:11 GMT | GBP/AUD soars on dismal AUD data
2013-10-02 03:46 GMT | RBA next rate cut delayed till February - NAB
2013-10-02 03:12 GMT | Japan’s the black sheep among winning indexes in Asia


EURUSD :
HIGH 1.35282 LOW 1.35074 BID 1.35240 ASK 1.35244 CHANGE -0.01% TIME 08 : 32:56



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Fractals level at 1.3536 (R1) offers a key resistive measure on the upside. Break here is required to enable bullish pressure and validate next target at 1.3551 (R2). Final support for today locates at 1.3566 (R3). Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3506 (S1). Penetration below this mark would suggest next targets at 1.3491 (S2) and 1.3475 (S3).

Resistance Levels: 1.3536, 1.3551, 1.3566
Support Levels: 1.3506, 1.3491, 1.3475

----------------------------
GBPUSD :
HIGH 1.62001 LOW 1.61625 BID 1.61790 ASK 1.61795 CHANGE -0.1% TIME 08 : 32:57



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

Upwards scenario: Possible upwards extension above the resistance level at 1.6210 (R1) is liable to commence medium-term bullish structure. Important fractal levels offers next targets at 1.6238 (R2) and 1.6265 (R3) in potential. Downwards scenario: Risk of further correction expansion is seen below the support barrier at 1.6158 (S1). Break here is required to enable our intraday targets at 1.6130 (S2) and 1.6103 (S3) on the downside.

Resistance Levels: 1.6210, 1.6238, 1.6265
Support Levels: 1.6158, 1.6130, 1.6103

----------------------
USDJPY :
HIGH 98.085 LOW 97.639 BID 97.648 ASK 97.651 CHANGE -0.37% TIME 08 : 32:57



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

Upwards scenario: Fresh portion of the economic data releases might increase volatility later on today. Clearance of our next resistive barrier at 98.09 (R1) is required to push the price towards to our next visible targets at 98.33 (R2) and 98.56 (R3). Downwards scenario: As long as price stays below the moving averages our short-term outlook would be negative. Possible extension lower the 97.50 (S1) is being able to drive market price towards to initial supports at 97.25 (S2) and 97.01 (S3).

Resistance Levels: 98.09, 98.33, 98.56
Support Levels: 97.50, 97.25, 97.01

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

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Forex Technical & Market Analysis FXCC Oct 03 2013

EUR/USD explodes to 1.3624, 8-month peaks

The European Central Bank President Mario Draghi stated on Wednesday that he’ll take any necessary measures to keep the money-market rates in check as he guides Europe’s banks through their early stages of the economic recovery. Draghi stated; “We’ll remain particularly attentive to developments which may have implications to monetary policy and consider all available instruments. We have a vast array of instruments to this extent and we exclude no option in order to address the needs as is most appropriate.” The euro advanced 0.4 percent to $1.3586 late in the New York session, reaching the biggest one-day gain since Sept 18th. The 17 nation shared single currency was 0.2 percent weaker at 132.28 yen after falling as much as 0.9 percent. The yen strengthened 0.6 percent to 97.39 per dollar. The euro strengthened the most in two weeks versus the dollar after European Central Bank President Mario Draghi refrained from signaling that additional measures were needed to boost the region’s recovery.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-10-03 07:53 GMT | DE Markit Services PMI (Sep)
2013-10-03 07:58 GMT | EMU Markit Services PMI (Sep)
2013-10-03 09:00 GMT | EMU Retail Sales (YoY) (Aug)
N/A | US Initial Jobless Claims (Sep 27)

FOREX NEWS :
2013-10-03 05:36 GMT | EUR/GBP slightly upwards ahead of crucial UK,EZ data
2013-10-03 05:06 GMT | GBP/USD sits on the fence ahead of UK PMI Services data
2013-10-03 02:16 GMT | EUR/USD triggers stops 1.36+, JPY on the slide
2013-10-03 02:00 GMT | USD/JPY retracing from 97.70 session highs

-----------------
EURUSD :
HIGH 1.36232 LOW 1.35775 BID 1.36065 ASK 1.36069 CHANGE 0.22% TIME 08 : 39:59



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Current price setup might suggest uptrend development in near term perspective. If the price manages to surpass our resistive measure at 1.3623 (R1), we would suggest next targets at 1.3644 (R2) and 1.3665 (R3). Downwards scenario: On the other side, a dip lower the key support measure at 1.3575 (S1) would open a route towards to lower targets at 1.3555 (S2) and 1.3535 (S3).

Resistance Levels: 1.3623, 1.3644, 1.3665
Support Levels: 1.3575, 1.3555, 1.3535

------------------
GBPUSD :
HIGH 1.62409 LOW 1.62206 BID 1.62329 ASK 1.62335 CHANGE 0.07% TIME 08 : 39:59



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

Upwards scenario: A bullish oriented market participant might pressures to test our next resistance level at 1.6261 (R1). Loss here could open a route towards to our interim target at 1.6292 (R2) and the main aim for today locates at 1.6323 (R3). Downwards scenario: Risk of possible price regress is seen below the support level at 1.6202 (S1). Break here would suggest lower targets at 1.6170 (S2) and 1.6139 (S3) in potential.

Resistance Levels: 1.6261, 1.6292, 1.6323
Support Levels: 1.6202, 1.6170, 1.6139

-------------------------
USDJPY :
HIGH 97.784 LOW 97.251 BID 97.700 ASK 97.702 CHANGE 0.36% TIME 08 : 40:00



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

Upwards scenario: Market commenced recovery phase from the initial downtrend formation. Clearance of our next resistive barrier at 98.05 (R1) would suggest next intraday targets at 98.32 (R2) and 98.59 (R3) in potential. Downwards scenario: Further downside extension might face next supportive barrier at 97.53 (S1). Clearance here is required to open the way towards to interim target at 97.25 (S2) and any further price regress would then be targeting 96.98 (S3).

Resistance Levels: 98.05, 98.32, 98.59
Support Levels: 97.53, 97.25, 96.98

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

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Forex Technical & Market Analysis FXCC Oct 04 2013

US interest rates could skyrocket

Due to the govt. shutdown there will be no NFP number printed by the BLS on Friday. Two FOMC members hold court in the afternoon session, once again, despite the turmoil in govt. due to the shutdown, investors will be looking for clues with regards to potential tapering of the Fed's $85 billion per month asset purchase scheme. The US Treasury warned on Thursday that the budget impasse between the Republicans and Democrats in Washington risked plunging the world's biggest economy into its worst slump since the Great Depression; "A default would be unprecedented and has the potential to be catastrophic. Credit markets could freeze, the value of the dollar could plummet, US interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse."
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2011-08-10 06:00 GMT | DE Producer Price Index (MoM) (Aug)
2011-08-10 09:00 GMT | EMU Producer Price Index (YoY) (Aug)
2011-08-10 14:00 GMT | CA Ivey Purchasing Managers Index (Sep)
2011-08-10 17:45 GMT | US Fed Minneapolis's Narayana Kocherlakota speech

FOREX NEWS :
2013-10-04 05:49 GMT | Asian bourses closing on the down side
2013-10-04 04:19 GMT | EUR/GBP sails its way down to 0.8423 session lows
2013-10-04 04:06 GMT | AUD/USD remains resilient amidst a poor risk-off environment
2013-10-04 03:35 GMT | EUR/USD losing momentum? Gains wiped out

-----------------
EURUSD
HIGH 1.36317 LOW 1.36183 BID 1.36259 ASK 1.36263 CHANGE 0.05% TIME 08 : 40:02



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: On the upside EURUSD is limited to the next resistive barrier at 1.3646 (R1). If the price manages to surpass this mark we would suggest next intraday targets at 1.3668 (R2) and 1.3690 (R3). Downwards scenario: Our next support level is placed at important technical level- 1.3607 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial targets at 1.3584 (S2) and 1.3561 (S3) in potential.

Resistance Levels: 1.3646, 1.3668, 1.3690
Support Levels: 1.3607, 1.3584, 1.3561

---------------------
GBPUSD :
HIGH 1.61779 LOW 1.61532 BID 1.61721 ASK 1.61726 CHANGE 0.1% TIME 08:40:03



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

Upwards scenario: On the upside potential is seen for a break above the resistance at 1.6187 (R1). In such case we would suggest next target at 1.6215 (R2) and any further rise would then be limited to final resistance at 1.6241 (R3). Downwards scenario: Medium term bias is clearly positive however we expect recovery action if the price manages to overcome key supportive bastion at 1.6150 (S1). In such case we would suggest next intraday targets at 1.6125 (S2) and 1.6099 (S3).

Resistance Levels: 1.6187, 1.6215, 1.6241
Support Levels: 1.6150, 1.6125, 1.6099

------------------
USDJPY :
HIGH 97.403 LOW 97.034 BID 97.111 ASK 97.113 CHANGE -0.15% TIME 08 : 40:04



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

Upwards scenario: Mark at 97.50 (R1) acts as next resistive barrier on the way if the pair commence recovery phase. Break here is required to achieve higher targets at 97.80 (R2) and 98.10 (R3) later on today. Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the support level at 96.92 (S1). Loss here would suggest to monitor marks at 96.62 (S2) and 96.33 (S3) as possible intraday targets.

Resistance Levels: 97.50, 97.80, 98.10
Support Levels: 96.92, 96.62, 96.33

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

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Forex Technical & Market Analysis FXCC Oct 07 2013

Yen rises versus major peers early in the Asian session

There were no significant breaks or gaps to the upside or downside as the FX markets opened on Sunday evening. Yen made a modest rise versus the majority of its peers, but at the time of writing had failed to penetrate the significant resistance or support levels. The dollar fell for a fifth week last week, the longest stretch the greenback has experienced such a fall since April 2011, due to Congress failing to agree on a route forward to raise the $16.7 trillion U.S. debt limit, encouraging investors to seek other safe haven assets. The U.S. Dollar Index, tracking the greenback versus its 10 major peer currencies, declined by 0.3 percent last week, (the most in two weeks), to 1,009.98 in New York at the close on Friday. The dollar fell 0.8 percent to 97.48 yen, the third weekly drop. It touched 96.93, the lowest since Aug. 28th. The U.S. currency weakened by 0.3 percent to $1.3558 per euro. The yen strengthened 0.5 percent to 132.14 per euro. Sterling fell by the most last week in the dollar’s 16 most-traded peers, after reaching a nine-month high, the sell off was due to speculation that the U.K. economic recovery isn’t strong enough to warrant the early interest-rate increase the BoE governor Mark Carney had mentioned in earlier press conferences.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-10-07 08:30 GMT | EMU Sentix Investor Confidence (Oct)
2013-10-07 12:30 GMT | CA Building Permits (MoM) (Aug)
2013-10-07 19:00 GMT | US Consumer Credit Change (Aug)
2013-10-07 23:50 GMT | Trade Balance - BOP Basis (Aug)

FOREX NEWS :
2013-10-07 05:18 GMT | Asian bourses fall sharply due to US political “jitters”
2013-10-07 04:49 GMT | AUD/USD trading in the upper level ignoring US political “woes”
2013-10-07 03:49 GMT | USD a tad weaker as US shutdown set to extend
2013-10-07 02:37 GMT | EURUSD - Uptrend intact but latest pullbacks raises some concerns - 2ndSkies

----------------
EURUSD :
HIGH 1.35742 LOW 1.35609 BID 1.35680 ASK 1.35685 CHANGE 0.09% TIME 08 : 45:02



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Next barrier on the upside lies at 1.3579 (R1). Surpassing of this level might enable our initial target at 1.3594 (R2) and any further gains would then be limited to last resistive structure at 1.3609 (R3). Downwards scenario: Positive clearance of our key support level at 1.3538 (S1) would enable next target at 1.3523 (S2) en route to our final support for today at 1.3508 (S3).

Resistance Levels: 1.3579, 1.3594, 1.3609
Support Levels: 1.3538, 1.3523, 1.3508

----------------------
GBPUSD :
HIGH 1.60483 LOW 1.60153 BID 1.60325 ASK 1.60329 CHANGE 0.17% TIME 08 : 45:03



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

Upwards scenario: Our next resistance level is placed at 1.6050 (R1). Break here would open route towards to higher target at 1.6068 (R2) and any further price advance would then be limited to 1.6086 (R3). Downwards scenario: Failure to establish corrective structure might lead to further downtrend evolvement later on today. Penetration below the support at 1.6005 (S1) would suggest next intraday targets at 1.5987 (S2) and 1.5970 (S3) in perspective.

Resistance Levels: 1.6050, 1.6068, 1.6086
Support Levels: 1.6005, 1.5987, 1.5970

--------------------
USDJPY :
HIGH 97.338 LOW 97.021 BID 97.144 ASK 97.148 CHANGE -0.34% TIME 08 : 45:04



OUTLOOK SUMMARY : Neutral
TREND CONDITION : Sideway
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : Medium

Upwards scenario: Price is consolidating on the hourly timeframe however we see potential to overcome our next resistance level at 97.50 (R1) later on today. Our initial targets locates at 97.73 (R2) and 97.96 (R3). Downwards scenario: On the other hand, prolonged movement below the supportive measure at 96.92 (S1) is required to activate new phase of downtrend expansion. We would suggest next aim at 96.68 (S2) and then final target could be met at 96.45 (S3).

Resistance Levels: 97.50, 97.73, 97.96
Support Levels: 96.92, 96.68, 96.45

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

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Forex Technical & Market Analysis FXCC Oct 08 2013

Chinese government officials fire off warning to USA treasury

The DJIA closed down 0.90% having experienced a late sell off towards the close of the afternoon session on Monday. As the day unwound any optimism for a solution faded, as did the secular rally enjoyed mid afternoon in the New York session. The SPX followed suit, closing down 0.85% and the NASDAQ closed down 0.98%. In the Chinese government's first public comments on the deadlock, Zhu urged Washington politicians to "learn their lessons from history". A reminder that the US AAA credit rating was downgraded by S&P two years ago after the last debt ceiling standoff. Zhu said; "The United States is totally clear about China's concerns about the fiscal cliff. We ask that the United States earnestly takes steps to resolve in a timely way before October 17 the political [issues] around the debt ceiling and prevent a U.S. debt default to ensure safety of Chinese investments in the United States and the global economic recovery. This is the United States' responsibility."
http://blog.fxcc.com/market-analysis

2013-10-08 12:15 GMT | Canada. Housing Starts s.a (YoY) (Sep)
2013-10-08 16:00 GMT | Switzerland. SNB Chairman Jordan Speech
2013-10-08 23:30 GMT | Australia. Westpac Consumer Confidence (Oct)
2013-10-08 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes

FOREX NEWS :
2013-10-08 05:00 GMT | USD/JPY pares earlier losses and strikes back above 97.00
2013-10-08 04:06 GMT | GBP/USD slightly downwards but consolidating yesterday’s gains
2013-10-08 03:28 GMT | USD/CHF pockets gains printing 0.9044 session highs
2013-10-08 01:56 GMT | EUR/USD glued to 1.3568 support


-------------------------
EURUSD :
HIGH 1.35816 LOW 1.35574 BID 1.35616 ASK 1.35618 CHANGE -0.14% TIME 08 : 13:56



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 1.3583 (R1) would enable bullish pressure and open route towards to our next targets at 1.3607 (R2) and 1.3630 (R3). Downwards scenario: Medium-term bias is clearly positive however possible progress below the initial support level at 1.3560 (S1) might expose our intraday targets at 1.3542 (S2) and then 1.3517 (S3) in perspective.

Resistance Levels: 1.3583, 1.3607, 1.3630
Support Levels: 1.3560, 1.3542, 1.3517

----------------
GBPUSD :
HIGH 1.60988 LOW 1.60695 BID 1.60699 ASK 1.60703 CHANGE -0.16% TIME 08 : 13:57



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

Upwards scenario: Possible upwards formation is limited now to resistive measure at 1.6099 (R1). A break above it would suggest next intraday target at 1.6122 (R2) and if the price holds its momentum we can expect price increase towards to final resistance at 1.6150 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.6061 (S1), we expect to see further market decline towards to our next target at 1.6035 (S2) and then next stop could be found at 1.6008 (S3) mark.

Resistance Levels: 1.6099, 1.6122, 1.6150
Support Levels: 1.6061, 1.6035, 1.6008

-------------------
USDJPY :
HIGH 97.134 LOW 96.566 BID 97.056 ASK 97.059 CHANGE 0.36% TIME 08 : 13:58



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

Upwards scenario: Immediate resistance at 97.29 (R1) remains in near-term focus, climb above this level might open way for a stronger move towards to next interim target at 97.58 (R2) and any further rise would then be limited to final resistive measure at 97.87 (R3). Downwards scenario: On the other hand, our next support level aligns at 96.79 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 96.43 (S2) and 96.05 (S3).

Resistance Levels: 97.29, 97.58, 97.87
Support Levels: 96.79, 96.43, 96.05

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

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Forex Technical & Market Analysis FXCC Oct 09 2013

IMF lowers global growth targets as USA debt ceiling impasse drags on

The IMF now expects the global economy to expand by 2.9% in 2013 and 3.6% in 2014, down by 0.3 and 0.2 points respectively on its last predictions, made in July, despite signs of recovery in the euro area. Obama's late statement on Tuesday evening spooked the USA indices, at the start of his speech the DJIA was hovering around a 0.7% loss on the day, by the time he'd finished and the markets had closed the DJIA was down 1.07%, the SPX closed down 1.23% and the NASDAQ down a precise 2.00% on the day. Equity index futures are, at the time of writing, pointing to another negative day on both the European and USA markets. The DJIA equity index future is down 0.92%, SPX down 1.06%, NASDAQ down 1.69%. UK FTSE equity index future is down 0.91%, CAC down 0.73% and the DAX equity index future is down 0.24% The dollar increased 0.2 percent to 96.88 yen late in New York on Tuesday after gaining as much as 0.6 percent earlier in the day. The greenback was little changed at $1.3573 per euro after rising 0.2 percent earlier. The 17-nation shared common currency appreciated by 0.1 percent to 131.49 yen. The dollar rose versus 13 of its 16 most-traded peers as the U.S. political stalemate persisted and President Barack Obama warned the nation faces a “very deep recession” if Congress doesn’t raise the debt limit, fueling safe haven demand for the dollar.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-10-09 08:30 GMT | UK Industrial Production (YoY) (Aug)
2013-10-09 14:00 GMT | UK NIESR GDP Estimate (3M) (Sep)
2013-10-09 18:00 GMT | US FOMC Minutes
2013-10-09 22:00 GMT | ECB President Draghi's Speech

FOREX NEWS :
2013-10-09 03:36 GMT | GBP/USD rally fizzles early Tuesday likely on “fade the news” reaction to Yellen news
2013-10-09 03:22 GMT | EUR/USD violates support printing 1.3562 session lows
2013-10-09 02:53 GMT | AUD/USD tumbling after poor Aussie data
2013-10-09 02:26 GMT | USD/JPY spikes to 97.36 peaks on +43 pips gains

----------------------
EURUSD
HIGH 1.36046 LOW 1.35617 BID 1.35630 ASK 1.35633 CHANGE -0.08% TIME 08 : 42:32



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD tested negative territory today though appreciation above the resistive structure at 1.3584 (R1) might shift short-term tendency to the bullish side and validate our intraday targets at 1.3596 (R2) and 1.3607 (R3). Downwards scenario: Market decline below the support level at 1.3557 (S1) might shift market sentiment to the bearish side. In such scenario we expect next targets to be exposed today at 1.3546 (S2) and 1.3535 (S3).

Resistance Levels: 1.3584, 1.3596, 1.3607
Support Levels: 1.3557, 1.3546, 1.3535

------------------------
GBPUSD
HIGH 1.61219 LOW 1.60612 BID 1.60664 ASK 1.60672 CHANGE -0.1% TIME 08 : 42:33



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

Upwards scenario: From the technical side, medium - term tendency is bearish, however new step of recovery phase is possible above the resistance level at 1.6086 (R1). Loss here would open way towards to next targets at 1.6106 (R2) and 1.6127 (R3). Downwards scenario: Our next support level is placed at 1.6058 (S1). Possible penetration below it might initiate bearish pressure and gradually push the price towards to our intraday targets at 1.6039 (S2) and 1.6019 (S3).

Resistance Levels: 1.6086, 1.6106, 1.6127
Support Levels: 1.6058, 1.6039, 1.6019

--------------------
USDJPY :
HIGH 97.446 LOW 96.825 BID 97.404 ASK 97.408 CHANGE 0.56% TIME 08 : 42:34



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

Upwards scenario: USDJPY trapped to the correction phase on the hourly chart frame. Break of resistive level at 97.48 (R1) is required to enable upwards action. Next visible targets are seen at 97.67 (R2) and 97.85 (R3). Downwards scenario: Though, we still keep the bearish scenario in focus. Risk of market decline is seen below the support level at 97.18 (S1). Loss here would enable initial targets at 97.00 (S2) and 96.80 (S3).

Resistance Levels: 97.48, 97.67, 97.85
Support Levels: 97.18, 97.00, 96.80

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

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Forex Technical & Market Analysis FXCC Oct 10 2013

Yellen's hard task highlighted by the minutes from the FOMC

Janet Yellen's difficult task was highlighted by the FOMC minutes published on Wednesday. Policy makers at the US Federal Reserve were split over the benefits of slowing down (tapering) its $85bn a month asset purchases in September, highlighting the difficult task facing her as she prepares to take chairmanship of the central bank. Barack Obama stepped up his discussions with Congress as USA political leaders look for a solution to the budget crisis that could leave the country without money to pay its bills before the end of the month. The president will meet senior Republicans from the House of Representatives at the White House on Thursday, after talks with members of his Democratic party on Wednesday evening. US default swaps trade has soared on debt fears. Growing investor fears that Washington could miss a payment on its debt has led to a surge in activity in the market for derivatives that insure against a US default. Commodities were hit hard in Wednesday's trading sessions; ICE WTI oil closing down 2.05% at $101.37 per barrel, NYMEX natural down 1.00% at $3.68 per therm. COMEX gold closed the day down 1.31%, silver down 2.46% at $21.89 per ounce.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-10-10 08:00 GMT | ECB Monthly Report
2013-10-10 11:00 GMT | BoE Interest Rate Decision
2013-10-10 11:45 GMT | Bank of Japan Governor Kuroda Speech
2013-10-10 16:00 GMT | Bank of Japan Governor Kuroda Speech

FOREX NEWS :
2013-10-10 05:43 GMT | USD/CHF on a strong rally higher
2013-10-10 04:32 GMT | USD/JPY soars on Nikkei, solid data and short-covering
2013-10-10 04:30 GMT | EUR/USD working on a re-test of yesterday’s low at 1.3488
2013-10-10 03:17 GMT | GBP/USD struggling to set a solid short-term low; anywhere in 1.5841 – 1.5908 will do


EURUSD :
HIGH 1.35275 LOW 1.34876 BID 1.35034 ASK 1.35037 CHANGE -0.13% TIME 08 : 52:42



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We see potential to test our resistive barrier at 1.3516 (R1) later on today. Successful penetration above this mark might keep bullish sentiment in play and validate our intraday targets at 1.3531 (R2) and 1.3546 (R3). Downwards scenario: On the other hand, instrument might enable bearish pressure below the support level at 1.3485 (S1) and prolong initial downtrend development. Next targets on the way locates at 1.3471 (S2) and 1.3457 (S3).

Resistance Levels: 1.3516, 1.3531, 1.3546
Support Levels: 1.3485, 1.3471, 1.3457

------------------
GBPUSD :
HIGH 1.59654 LOW 1.59142 BID 1.59405 ASK 1.59413 CHANGE -0.09% TIME 08 : 52:43



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

Upwards scenario: Fractal level offers a key resistive barrier at 1.5968 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.6006 (R2) and 1.6039 (R3) in potential. Downwards scenario: Fresh low offers a key supportive measure at 1.5914 (S1) on a downside. A violation here is liable to commence correction pattern on the bigger picture and expose our initial targets at 1.5878 (S2) and 1.5845 (S3).

Resistance Levels: 1.5968, 1.6006, 1.6039
Support Levels: 1.5914, 1.5878, 1.5845

--------------
USDJPY :
HIGH 97.823 LOW 97.338 BID 97.727 ASK 97.731 CHANGE 0.39% TIME 08 : 52:44



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

Upwards scenario: While price is quoted above the 20 SMA, our technical outlook would be positive. Clearance of our next resistance level at 97.87 (R1) would suggest next intraday targets at 98.01 (R2) and 98.14 (S3) in perspective. Downwards scenario: On the other hand, depreciation below the support level at 97.65 (S1) would suggest next intraday target at 97.51 (S2) and any further weakening would then be limited to final support level at 97.37 (S3).

Resistance Levels: 97.87, 98.01, 98.14
Support Levels: 97.65, 97.51, 97.37

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

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Forex Technical & Market Analysis FXCC Oct 11 2013

ECB Agrees on swap line with PBOC as Chinese trade increases

The European Central Bank and the People’s Bank of China agreed to establish a bilateral currency swap line on Thursday, increasing access to trade finance in the euro area and strengthening the international use of the yuan. The swap line will be valid for three years and have a maximum size of 350 billion yuan ($57 billion) when Chinese currency is provided to the ECB and 45 billion euros ($61 billion) when money is given to the PBOC. The arrangement is available to all Eurosystem counter-parties via national central banks, it said. House Speaker John Boehner has proposed extending the federal debt limit until Nov. 22nd as a way to shift debate back to a government-spending bill. The bill wouldn’t end the partial shutdown of the government, which began Oct. 1st after Republicans insisted on changes to the 2010 health-care law. Boehner told reporters the House wants to “offer the president today the ability to move.”
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
24h | G20 Finance Ministers and Central Bank Governors Meeting
24h | IMF Meeting
2013-10-11 06:00 GMT | DE Harmonised Index of Consumer Prices (YoY) (Sep)
2013-10-11 12:30 GMT | CA Unemployment Rate (Sep)

FOREX NEWS :
2013-10-11 05:26 GMT | USD/CHF struggles to keep the 0.9100 level
2013-10-11 04:56 GMT | USD/CAD sits on the fence ahead of Canadian labor data, BoC outlook
2013-10-11 04:24 GMT | AUD/USD upwards amidst easing worries on US fiscal issues
2013-10-11 03:01 GMT | EUR/USD on steady climb to 1.3540

------------------------
EURUSD :
HIGH 1.35441 LOW 1.35178 BID 1.35347 ASK 1.35350 CHANGE 0.11% TIME 08 : 37:18



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: On the upside current structure might face next hurdle at 1.3546 (R1). Successful penetration above that mark would suggest next target zone – 1.3559 (R2) onto 1.3573 (R3) price levels. Downwards scenario: Any downside fluctuations remains for now limited to the next support barrier at 1.3517 (S1). Only clear break here would be a signal of possible market easing towards to our targets at 1.3503 (S2) and 1.3489 (S3) in potential

Resistance Levels: 1.3546, 1.3559, 1.3573
Support Levels: 1.3517, 1.3503, 1.3489

------------------
GBPUSD :
HIGH 1.59903 LOW 1.5963 BID 1.59881 ASK 1.59885 CHANGE 0.13% TIME 08 : 37:18



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

Upwards scenario: Our next resistance level is placed at 1.5993 (R1). Clearance here is required to commence ascending structure towards to next target at 1.6023 (R2) and any further price appreciation would then be limited to 1.6053 (R3) mark. Downwards scenario: On the other side, a dip below the initial support level at 1.5950 (S1) is liable to trigger bearish pressure and drive market price towards to supportive means at 1.5921 (S2) and 1.5891 (S3) in potential.

Resistance Levels: 1.5993, 1.6023, 1.6053
Support Levels: 1.5950, 1.5921, 1.5891

--------------------
USDJPY :
HIGH 98.552 LOW 97.921 BID 98.370 ASK 98.373 CHANGE 0.23% TIME 08 : 37:19



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

Upwards scenario: USDJPY resumed upwards penetration today and we see potential to expose our intraday targets at 98.72 (R2) and 98.88 (R3) if the price manages to overcome key resistance measure at 98.56 (R1). Downwards scenario: Possible downside pressure could be maintained if the price penetrates below the support measure at 98.24 (S1). Clearance here would open way for a price move towards to lower targets at 98.08 (S2) and 97.92 (S3).

Resistance Levels: 98.56, 98.72, 98.88
Support Levels: 98.24, 98.08, 97.92

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

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Forex Technical & Market Analysis FXCC Oct 14 2013

World Bank head Jim Yong Kim warns US is ‘five days away from a very dangerous moment

Jim Yong Kim has warned the United States they're just 'days away' from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default. 'We're now five days away from a very dangerous moment. I urge U.S. policymakers to quickly come to a resolution before they reach the debt ceiling deadline. Inaction could result in interest rates rising, confidence falling and growth slowing. If this comes to pass, it could be a disastrous event for the developing world, and that will in turn greatly hurt developed economies as well." Meanwhile the Chinese have lost very little time in making their opinion known, one of the official news outlets, Xinhua, has begun to call for a new global reserve currency to be created given the instability of the dollar; "US fiscal failure warrants a de-Americanized world and the creation of a new reserve currency to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States." The U.S. shouldn’t risk defaulting on its debt because doing so would wreak havoc in the world’s economy and financial markets, said the heads of JPMorgan, Deutsche Bank AG and Pacific Investment Management Co. JPMorgan Chief Executive Officer Jamie Dimon said yesterday during a panel discussion at a financial industry conference in Washington; “The United States cannot default and, in my opinion, will not default. It would ripple through the global economy in a way you couldn’t possibly understand.”
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-10-14 24 hours | Eurogroup meeting
2013-10-14 24 hours | US. Columbus Day
2013-10-14 09:00 GMT | EU. Industrial Production s.a. (MoM) (Aug)
2013-10-14 12:00 GMT | Poland. M3 Money Supply (YoY) (Sep)

FOREX NEWS :
2013-10-14 05:08 GMT | AUD/USD gains again uptrend momentum after solid China CPI release
2013-10-14 05:07 GMT | GBP/USD trading modestly higher on concerns over US politics
2013-10-14 04:20 GMT | USD/JPY under pressure on concerns about US debt ceiling
2013-10-14 04:20 GMT | GBP/JPY consolidating recent gains; technicians say a bit more upside likely

-----------------------
EURUSD :
HIGH 1.35668 LOW 1.35509 BID 1.35665 ASK 1.35668 CHANGE 0.18% TIME 08 : 25:37



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: We are not expecting significant volatility increase today however upside risk aversion is seen above the next resistance level at 1.3581 (R1). Price evaluation above this level would suggest next targets at 1.3599 (R2) and 1.3616 (R3). Downwards scenario: If the price manages to overcome our next support barrier at 1.3551 (S1), we expect to see further market decline towards to our next target at 1.3536 (S2) and then next stop could be found at 1.3517 (S3) mark.

Resistance Levels: 1.3581, 1.3599, 1.3616
Support Levels: 1.3551, 1.3536, 1.3517

----------------------
GBPUSD :
HIGH 1.59888 LOW 1.59633 BID 1.59859 ASK 1.59867 CHANGE 0.23% TIME 08 : 25:43



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

Upwards scenario: On the upside market might get more incentives above the immediate resistive barrier at 1.6003 (R1). If the price manages to overcome it we would suggest next intraday targets at 1.6035 (R2) and 1.6061 (R3). Downwards scenario: Penetration below the support at 1.5964 (S1) is liable to put more downward pressure on the instrument in the near-term perspective. As a result our supportive means at 1.5928 (S2) and 1.5893 (S3) might be triggered.

Resistance Levels: 1.6003, 1.6035, 1.6061
Support Levels: 1.5964, 1.5928, 1.5893

------------------
USDJPY :
HIGH 98.351 LOW 98.119 BID 98.258 ASK 98.262 CHANGE -0.31% TIME 08 : 25:51



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

Upwards scenario: Any upside actions looks limited to resistance level at 98.60 (R1). Surpassing of this level might enable next target at 98.81 (R2) and any further gains would then be targeting final mark at 99.03 (R3) in potential. Downwards scenario: Next support level is seen at 98.10 (S1), any penetration below it might activate downside pressure and enable lower target at 97.89 (S2). Any further market decline would then be limited to 97.62 (S3).

Resistance Levels: 98.60, 98.81, 99.03
Support Levels: 98.10, 97.89, 97.62

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

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Forex Technical & Market Analysis FXCC Oct 15 2013

Central Banks begin to plan for a USA default as the deadline nears

Global central banks are beginning to create contingency plans as to how they'd keep financial markets moving if the U.S. defaults. Jon Cunliffe, the Bank of England deputy governor said in testimony to U.K. Politicians on Monday; "Because in the past it’s always been sorted out is absolutely not a reason to fail to do the contingency planning. I would expect the Bank of England to be planning for it. I’d expect private-sector actors to be doing that, and in other countries as well.” Due to the Columbus Day bank holiday in the USA and Canada the main equity markets were closed and the FX markets experienced less transaction turnover on Monday. European markets mostly experienced a positive day. The STOXX index closed up 0.11%, the UK FTSE up 0.32%, the CAC closed up 0.07%, and the DAX closed down by 0.01%. The Portuguese index closed up the most in the European markets by 0.98%. Equity index futures (at the time of writing) appear to suggest that the USA main indices will tentatively open in positive territory on Tuesday; the DJIA equity index future is up 0.07%, SPX up 0.11% and the NASDAQ equity index future is up 0.15%. Commodities were mainly positive, ICE WTI oil closed the day up 0.22% at $102.24 per barrel, NYMEX natural closed up 1.17% at $3.82 per therm, COMEX gold closed the day up 0.28% at $1271.80 per ounce. Silver on COMEX was flat at the day's end at $21.27 per ounce. The dollar was little changed at 98.53 yen late in New York after weakening earlier as much as 0.5 percent to 98.08 yen. It rose 1.9 percent over the previous four days. The dollar fell 0.2 percent to $1.3565 per euro. Japan’s currency declined 0.1 percent to 133.65 per euro after weakening to 133.60 on Oct. 11th, the least since Sept. 26th. The U.S. Dollar Index, tracking the currency’s performance versus a basket of 10 leading counterparts, slid up to 0.23 percent, the biggest intraday drop since Oct. 2nd, to 1,010.07 before trading at 1,011.21, down 0.12 percent.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-10-15 24 hours | EU. EcoFin Meeting
2013-10-15 09:00 GMT | EU. ZEW Survey - Economic Sentiment (Oct)
2013-10-15 21:45 GMT | New Zealand. Consumer Price Index (QoQ) (Q3)
2013-10-15 23:30 GMT | New Zealand. Westpac Leading Index (MoM) (Aug)

FOREX NEWS :
2013-10-15 04:31 GMT | GBP/USD heading north but also capped by 1.6000
2013-10-15 03:46 GMT | EUR/GBP modestly lower ahead of heavy data flow Tuesday
2013-10-15 01:01 GMT | EUR/USD falls to 1.3550 bottoms
2013-10-15 00:36 GMT | AUD/USD reaches 0.9523 peaks on neutral RBA minutes

----------------
EURUSD :
HIGH 1.35709 LOW 1.355 BID 1.35693 ASK 1.35697 CHANGE 0.07% TIME 08 : 17:32



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: On the upside potential is seen for a break above the resistance at 1.3599 (R1). In such case we would suggest next target at 1.3616 (R2) and any further rise would then be limited to final resistance at 1.3631 (R3). Downwards scenario: Possible pull back development is limited now to the key supportive barrier at 1.3551 (S1). Only loss here would be considered as a beginning of a retracement expansion. Our intraday targets locates at 1.3536 (S2) and 1.3517 (S3).

Resistance Levels: 1.3599, 1.3616, 1.3631
Support Levels: 1.3551, 1.3536, 1.3517

------------------
GBPUSD :
HIGH 1.59983 LOW 1.59521 BID 1.59943 ASK 1.59951 CHANGE 0.08% TIME 08 : 17:36



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

Upwards scenario: Next resistance level is seen at 1.6019 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.6042 (R2) and 1.6061 (R3) in potential. Downwards scenario: We do expect some pull-backs development on the downside below the support level at 1.5964 (S1). Short-term momentum on the negative side might open the way towards to immediate supports at 1.5938 (S2) and 1.5914 (S3).

Resistance Levels: 1.6019, 1.6042, 1.6061
Support Levels: 1.5964, 1.5938, 1.5914

-----------------------
USDJPY :
HIGH 98.703 LOW 98.415 BID 98.442 ASK 98.447 CHANGE -0.14% TIME 08 : 17:40



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

Upwards scenario: Medium term bias remains positive however further market rise is limited now to the key resistive barrier at 98.69 (R1), clearance here is required to enable next resistances at 98.86 (R2) and last one at 99.03 (R3). Downwards scenario: In terms of technical levels, risk of price depreciation is seen below the next support level at 98.10 (S1). Loss here would suggest to monitor marks at 97.89 (S2) and 97.69 (S3) as possible intraday targets.

Resistance Levels: 98.69, 98.86, 99.03
Support Levels: 98.10, 97.89, 97.69

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

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Forex Technical & Market Analysis FXCC Oct 17 2013

Debt ceiling temporary solution provides temporary market relief

The debt ceiling resolution saw the DJIA rise by 1.36% on Wednesday. The compromise will fund the government through to mid-January and raise the debt ceiling through Feb. 7th. It also will set up a budget conference on long-term fiscal issues that would end no later than Dec. 13th. The Treasury Department will still be able to use "extraordinary measures" to work around the debt ceiling in the case that it is not raised by Feb. 7th. The first estimate for the euro area1 (EA17) trade in goods balance with the rest of the world in August 2013 gave a 7.1 billion euro surplus, compared with +4.6 bn in August 2012. The July 20132 balance was +18.0 bn, compared with +13.8 bn in July 2012. In August 2013 compared with July 2013, seasonally adjusted exports rose by 1.0% and imports by 0.2%. Euro area annual inflation was 1.1% in September 2013, down from 1.3% in August. A year earlier the rate was 2.6%. Monthly inflation was 0.5% in September 2013. European Union annual inflation was 1.3% in September 2013, down from 1.5% in August. A year earlier the rate was 2.7%. Monthly inflation was 0.4% in September 2013. The DJIA index closed up 1.36% on Wednesday, the SPX up 1.38% and NASDAQ up 1.20%. The debt ceiling compromise came too late to impact on European markets, STOXX index closed up 0.36%, FTSE up 0.34%, CAC closed down 0.29% and the DAX up 0.47%. The MIB closed up the most by 1.45% on the day.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
2013-10-17 09:00 GMT | Germany. 10-y Bond Auction
2013-10-17 12:30 GMT | USA. Initial Jobless Claims (Oct 11)
2013-10-17 14:00 GMT | USA. Philadelphia Fed Manufacturing Survey (Oct)
2013-10-17 23:50 GMT | Japan. Foreign bond investment (Oct 11)

FOREX NEWS :
2013-10-17 05:12 GMT | AUD/USD downwards despite a breach of the debt ceiling averted
2013-10-17 04:25 GMT | USD/CHF downwards despite greenback relief rally on debt progress
2013-10-17 02:32 GMT | EUR/USD jumps to 1.3550 highs; targets revisit; House says yes
2013-10-17 02:21 GMT | US House passes bill to end shutdown, raise debt ceiling

-------------------------
EURUSD :
HIGH 1.35521 LOW 1.35157 BID 1.35468 ASK 1.35473 CHANGE 0.11% TIME 08 : 21:46



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Short- term tendency is bearish even though both moving averages are pointing up. Though risk of market strengthening is seen above the resistance level at 1.3555 (R1). Clearance here would open way towards to next targets at 1.3571 (R2) and 1.3588 (R3). Downwards scenario: On the downside our attention is shifted to the immediate support level at 1.3517 (S1). Break here is required to enable bearish forces and expose our intraday targets at 1.3498 (S2) and 1.3479 (S3).

Resistance Levels: 1.3555, 1.3571, 1.3588
Support Levels: 1.3517, 1.3498, 1.3479

-------------------
GBPUSD :
HIGH 1.59861 LOW 1.59397 BID 1.59775 ASK 1.59785 CHANGE 0.19% TIME 08 : 21:47



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

Upwards scenario: GBP/USD determined clear sideways tone on the medium-term timeframe. Possibility of market appreciation is seen above the resistance level at 1.5999 (R1). Break here is required to validate next targets at 1.6019 (R2) and 1.6042 (R3). Downwards scenario: On the other hand, price pattern suggests bearish potential if the instrument manages to overcome next support level at 1.5938 (S1). Possible price regress could expose our initial targets at 1.5914 (S2) and 1.5892 (S3) in potential.

Resistance Levels: 1.5999, 1.6019, 1.6042
Support Levels: 1.5938, 1.5914, 1.5892

-------------------
USDJPY :
HIGH 99.006 LOW 98.397 BID 98.444 ASK 98.447 CHANGE -0.31% TIME 08 : 21:47



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

Upwards scenario: Instrument consolidates from its initial uptrend formation on the hourly chart. Resistance level at 98.82 (R1) is a key technical point on the upside. Penetration above it would suggest higher targets at 99.01 (R2) and 99.20 (R3) later on today. Downwards scenario: Prolonged movement below the initial support level at 92.28 (S1) might trigger protective orders and drive the price towards to our intraday targets at 98.10 (S2) and 97.89 (S3) later on today.

Resistance Levels: 98.82, 99.01, 99.20
Support Levels: 98.28, 98.10, 97.89

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

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Forex Technical & Market Analysis FXCC Oct 21 2013

China’s central government has called for “unrelenting” implementation of its economic policies and reform measures

Monday sees the publication of Germany's PPI figure and the monthly report from Germany's Bundesbank. Inflation is expected to come in at 0.1% month on month. In the USA another member of the Fed will hold court with the focus moving from the debt ceiling issue to the other issues affecting the USA economy, such as the throttling of monetary easing by way of tapering. Existing home sales in the USA are expected to come in at 5.31 million from the previous month's 5.48 million. Canada's wholesale sales are anticipated to print at 0.6%. USA crude oil inventory figures are suggested to fall to 3.4 million barrels from 6.8 million barrels the previous month. More arrivals from China contributed to a 7 percent increase in visitors to New Zealand in September 2013, compared with September 2012, Statistics New Zealand said today. "The 21,200 visitors from China was well up from 14,000 last September," population statistics manager Andrea Blackburn said. "This continues the strong growth in visitor numbers which we have seen from the world's most populous country in recent years." In the September 2013 year, visitor arrivals rose 3 percent to reach 2.670 million.
http://blog.fxcc.com/market-analysis

FOREX ECONOMIC CALENDAR :
N/A | US CB Leading Indicator (MoM) (Sep)
2013-10-21 06:00 GMT | DE Producer Price Index (YoY) (Sep)
2013-10-21 14:00 GMT | US Existing Home Sales (MoM) (Sep)
2013-10-21 14:30 GMT | US EIA Crude Oil Stocks change (Oct 11)

FOREX NEWS :
2013-10-21 05:40 GMT | AUD/USD upwards ‘flirting’ with the 200-daily SMA at 0.9755
2013-10-21 05:04 GMT | USD/CHF moves on the upper level on greenback strengthening
2013-10-21 04:23 GMT | USD/JPY looking to test 200-day MA 97.15 - BBH
2013-10-21 03:33 GMT | EUR/USD opens week in the red as part of consolidation; upside eventually 1.3750?

----------------------
EURUSD :
HIGH 1.36879 LOW 1.36706 BID 1.36776 ASK 1.36779 CHANGE -0.06% TIME 08 : 53:03



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

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: EURUSD clearly determined positive bias on the medium-term perspective. Penetration above the resistive measure at 1.3704 (R1) might encourage protective orders execution and drive market price towards to the next resistive means at 1.3721(R2) and 1.3739 (R3). Downwards scenario: Our next supportive measure locates at 1.3658 (S1). Break here is required to enable correction action towards to next target at 1.3641 (S2). Final support for today locates at 1.3622 (S3).

Resistance Levels: 1.3704, 1.3721, 1.3739
Support Levels: 1.3658, 1.3641, 1.3622

----------------
GBPUSD :
HIGH 1.61774 LOW 1.61522 BID 1.61706 ASK 1.61711 CHANGE 0.04% TIME 08 : 53:04



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

Upwards scenario: On the upside fractal level at 1.6225 (R1) prevents further gains. Successful clearance here would suggest next intraday targets at 1.6248 (R2) and 1.6269 (R3). Downwards scenario: On the other hand, current range pattern on the hourly chart suggest possible retest of our supportive measure at 1.6148 (S1). Break here is required to open way towards to initial targets at 1.6125 (S2) and 1.6102 (S3).

Resistance Levels: 1.6225, 1.6248, 1.6269
Support Levels: 1.6148, 1.6125, 1.6102

-----------------------------
USDJPY :
HIGH 98.103 LOW 97.771 BID 98.021 ASK 98.024 CHANGE 0.29% TIME 08 : 53:05



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

Upwards scenario: Resistance at 98.16 (R1) limits possible upwards penetration. Break here is required to enable next interim target at 98.31 (R2) en route towards to final aim for today at 98.46 (R3). Downwards scenario: On the other hand, successful retest of our support level at 97.74 (S1) would clear the way for a downtrend expansion towards to our lower targets at 97.59 (S2) and 97.43 (S3) in potential

Resistance Levels: 98.16, 98.31, 98.46
Support Levels: 97.74, 97.59, 97.43

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

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