internationallove Posted November 1, 2012 Author Share Posted November 1, 2012 Market Analytics:FBS Markets Inc. EUR/USD: news from the battlefield EUR/USD trades below the $1.2950 after having peaked $1.3020 yesterday. The pair tested the resistance line, descending from the October highs, on the upside, but failed to fix above it. On a downside the pair is supported b 50- and 200-day MAs. The pair remains in the same $1.3150/1.2800 flat range. Resistance is seen at $1.3000, $1.3020 (October 31 high), $1.3072 (October 5 high), $1.3139 (October high) and $1.3171 (September high). A break higher would pave the ground for further growth. Strong support lies at $1.2885 (October 30 low, 50-week MA) and in the $1.2875/30 (200- and 50-day MAs, October minimums) area. A break below $1.2800 would confirm a bearish trend. ANZ: EUR/USD should retrace into the $1.2740/1.2475 area over the coming couple of weeks before forming a base and allowing for a corrective rebound towards the upper end of the $1.3150/1.3500 area into 2013. Chart. daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-01/19873-eurusd-news-battlefield Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 1, 2012 Author Share Posted November 1, 2012 Market Analytics:FBS Markets Inc. AUD/USD: technical picture AUD/USD consolidates around $1.0375 (23.6% Fib. retracement of a June-August uptrend). The pair trades above the strong resistance area ($1.0330/45). Aussie is approaching the end of an ascending triangle formation, suggesting a possible bullish break. The pair remains cramped in a wide $1.0620/1.0150 sideways range. From a fundamental viewpoint, the Aussie-positive sentiment is supported by Chinese data and increasing belief the RBA won’t cut rates next week. Resistance: $1.0398 (October 31 high), $1.0410 (October high), $1.0468 (September 28 high), $1.0623 (September highs) Support: $1.0330/45 resistance area (50-, 200- and 100-day MAs), $1.0235 (October 23 minimum), $1.0150 (October and September lows). Chart. Daily AUD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-01/19876-audusd-technical-picture Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 2, 2012 Author Share Posted November 2, 2012 Market Analytics:FBS Markets Inc. November 2: forex news Today is the time of the most exiting release of the month – US non-farm payrolls (cons.: 123K; prev.: 114K). Markets are optimistic expecting that employment figures today will point to a recovery in the world’s biggest economy. Labor market figures published yesterday were quite positive. S&P500 rose by 1.1% yesterday. The MSCI Asia Pacific Index of stocks added 0.7%. AUD/USD tested the levels above $1.0400, but lacks upside momentum as Aussie stands still ahead of the NFP. NZD/USD broke above the $0.8250 resistance yesterday and is now also waiting for American release. EUR/USD slid to $1.2900. On Thursday the pair peaked at $1.2982 amid encouraging data on the US labor market and manufacturing, but then pulled back on the news that a Greek court declined the pension reforms requested by the Troika. In the absence of market-moving news out from Europe, the pair may remain more or less flat ahead of US presidential elections. USD/JPY keeps moving up. Today the pair opened above 80.00. Yen weakened versus its main counterparts as investors expect more easing from the Bank of Japan: Japanese economy shows signs of weakness, while the earning s of technology companies brought disappointment. GBP/USD around $1.6100 following yesterday’s peak at $1.6174. Today watch UK construction PMI (9:30 GMT). USD/CAD hovers below the parity after yesterday’s decline and tests the 100-day MA on a downside. The Canadian dollar rose from a 3-month low on improved risk appetite. Watch the Canadian labor market data at 12:30 GMT. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-02/19885-november-2-forex-news Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 2, 2012 Author Share Posted November 2, 2012 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (2 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2900, $1.2950, $1.2960, $1.3000, $1.3100; GBP/USD: $1.6100, $1.6140, $1.6150; USD/JPY: 79.20, 79.30, 79.50, 79.75, 80.00; AUD/USD: $1.0360, $1.0400; EUR/GBP: 0.7975, 0.8050; EUR/AUD: 1.2355. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-02/19887-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 2, 2012 Author Share Posted November 2, 2012 Market Analytics:FBS Markets Inc. EUR/USD: news from the battlefield EUR/USD slid to the $1.2900 hurdle (23.6% Fib. retracement of a July-August uptrend) and is getting ready to test the 50-day MA ($1.2885). The pair therefore, moves towards the lower boundary of the $1.2800/1.3170 sideways channel, but we don’t expect the pair to break lower in a near term. OCBC: As long as concerns surrounding Greece/Spain don't resolve, the pair may remain anchored around the $1.2900 area with initial resistance seen at $1.3000, while support – at $1.2885 (50-day MA) and $1.2830 (200-day MA). From the fundamental viewpoint, watch the US labor market data at 12:30 GMT. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-02/19889-eurusd-news-battlefield Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 2, 2012 Author Share Posted November 2, 2012 Market Analytics:FBS Markets Inc. France’s Hollande is losing support François Hollande, the first French Socialist party president in 17 years, is losing credibility. The Telegraph writes that Hollande’s poll rating has dropped from 62% after his election in early May to only 36%. For comparison: Nicolas Sarkozy had 53% approval ratings 6 months after his election in 2007. The Socialist leadership and government are seen as confused, accused by its opponents of amateurism and inaction. French government plans to tighten fiscal policy by 2% of GDP next year primarily by higher taxes. At the same time, history shows that tax rises have much more negative economic effect than spending cuts. The nation’s economy will almost sure slid into recession over the winter if it hasn’t already and may stay in such conditions for a long time, says the newspaper adding that the housing bubble is France’s another problem. Both right and left forces are displeased with Hollande criticizing his approach towards resolving France’s worst economic crisis since the war. The business lobby Medef is really worried: “The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.” Medef underlines that Hollande has chosen the worst possible mix – austerity without reform. Exactly what economic reforms Mr Hollande and his government are planning remains unclear. A report, commissioned by the President on how to restore France’s international competitiveness is due next week. Photograph: Philippe Wojazer/AP Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-02/19893-frances-hollande-losing-support Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 2, 2012 Author Share Posted November 2, 2012 Market Analytics:FBS Markets Inc. GBP/USD: if the BoE stands still... GBP/USD slid back below $1.6100 after a yesterday’s failure to break above the $1.6180 resistance. The pair returned below the resistance line, descending from September highs and came back into the daily Ichimoku Cloud. Bulls, however, keep their hopes up. Sterling may start a new rally in the nearest future if Bank of England refrains from further QE on November 8 meeting after strong UK growth figures. Specialists at Citigroup underline that pound may benefit against all the other currencies where regulators are dovish. Bank of New York Mellon: If we don't see more QE it would be a boost for sterling because there will be some investors out there who have priced it in. OCBC: The recent downtrend of the cable may have been neutralized in the near term as QE expectations continue to fade. We recommend buying GBP/USD on the dips after the pair returns back above $1.6100. Initial resistance is seen at $1.6200. Resistance: $1.6185 (November 1 high), $1.6214 (October high), $1.6308 (2012 high) Support: $1.6064 (50-day MA), $1.6005 (October 29 minimum), $1.5935 (October lows) Chart. Daily GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-02/19897-gbpusd-if-boe-stands-still Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 2, 2012 Author Share Posted November 2, 2012 Market Analytics:FBS Markets Inc. AUD/USD: a sideways week AUD/USD is retracing gains after hitting $1.0420 (monthly high) earlier in the day. The pair hovers around 23.6% Fib. retracement of a June-August uptrend). In our view, the pair needs some strong risk-positive impulse to break above $1.0420. On the H4 chart one may see a bullish divergence. Meanwhile, the downside is limited by the converging 50-100- and 200-day MAs in the $1.0340 area. Specialists at ANZ concede a short-term corrective upward rebound ahead of the anticipated test of parity. They see the next support levels at $1.0260, $1.0150, $1.0100 and, finally, at $0.9975. On Tuesday, November 6, the Reserve Bank of Australia will hold its next board meeting. According the consensus forecast, the regulator will cut rates by 0.25% to 3.00%. However, the expectations of a cut have become much lower than a week ago. Chart. Daily AUD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-02/19901-audusd-sideways-week Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 2, 2012 Author Share Posted November 2, 2012 Market Analytics:FBS Markets Inc. Asia: things seem to improve We have got pretty used to all concerns about Asian growth slowdown which weight on the market’s risk sentiment. Yet, some analysts think that the worst may be behind. Take notice of these recent developments: - China: October manufacturing PMIs improved. Official PMI rose from 49.8 to 50.2 in October, the first time in 3 months it has crossed back above the 50.0. HSBC’s PMI went up from 47.9 to 49.5, 8-month high. - South Korea: Exports added 1.2% y/y in October showing first improvement in 4 months and well above expectations. September factory output increased for the first time in 4 months. - Indonesia: Exports rose by 13.21% m/m in September. HSBC’s PMI rose from 50.5 to 51.9. - India: HSBC’s PMI rose from 52.8 to 52.9. ING: “More investor-friendly financial policies in the euro zone and the US in September have released pent-up demand, and that will support activity in Q4.” ANZ: “The trade downturn which everybody was concerned about appears to be easing. This is shown by trade numbers out of several countries, as well as improvement in the new export order component of the PMIs. Concerns that the global cyclical recovery could be delayed seem to be easing.” However, “one or two months of data don’t make a sustainable trend” and the specialists are still a bit cautious about how strong this recovery is going to be. Events in the US and China next week could result in political uncertainties affecting confidence. Shutterstock Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-02/19903-asia-things-seem-improve Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 5, 2012 Author Share Posted November 5, 2012 Market Analytics:FBS Markets Inc. Merkel: crisis will last at least another 5 years German Chancellor Angela Merkel thinks that it will take the euro area at least another 5 years to overcome the debt crisis. “We need a long breath of five years and more. Whoever thinks this can be fixed in one or two years is wrong,” said the Chancellor at the regional meeting with Christian Democratic Party on Saturday. Merkel still sees austerity measures as the main way to combat the crisis. “We need rigor to convince the world it’s worth investing in Europe,” underlined Merkel. On Wednesday, November 7, Merkel will speak to the European Parliament about the future of European economy. Photo: Getty Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-05/19908-merkel-crisis-will-last-least-another-5-years Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 5, 2012 Author Share Posted November 5, 2012 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (2 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2850, $1.2870, $1.2900, $1.2950, $1.3000; GBP/USD: $1.6000, $1.6195; USD/JPY: 79.50, 79.90, 80.25, 80.50, 81.00; AUD/USD: $1.0350; USD/CAD: 0.9990; EUR/GBP: 0.8000, 0.8100. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-05/19910-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 5, 2012 Author Share Posted November 5, 2012 Market Analytics:FBS Markets Inc. EUR/USD: news from the battlefield EUR/USD hovers around $1.2830 after having dropped on US employment data on Friday. Today EUR/USD has tested a monthly low at $1.2815. Note that the pair opened the week below the 200-day MA and the 50-week MA. The pair, therefore, approached the bottom of a sideways $1.2800/1.3170 range. A decisive break below $1.2800 could take EUR/USD to $1.2755 (September 9 and 11 minimums, 38.2% Fib. retracement from a July-September uptrend). The next support is seen around the $1.2600 handle. As can be seen from the H4 chart, the pair is oversold, but the overall bias is bearish. From a fundamental view, the single currency remains under pressure because of the renewed concerns about Greece. According to analysts at Westpac, the market is increasingly losing confidence that Greece will finally get the bailout money because the governing coalition is disagreeing more and more. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-05/19913-eurusd-news-battlefield Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 5, 2012 Author Share Posted November 5, 2012 Market Analytics:FBS Markets Inc. CFTC trader positioning data Here are the essentials of the latest Commitments of Traders (COT) report, released on Friday, November 2, by the Commodity Futures Trading Commission (CFTC) for a week ended October 30. The value of USD net short position decreased from $4.0 billion to $708 million. Also note that net shorts on EUR and JPY increased. Net longs on AUD, NZD and GBP went up, while on CAD - contracted. CHF long positions remained unchanged. It’s necessary to note that the figures cited above are always a week old at the time of their release. Never the less, CFTC data gives a good oversight into how the market is positioned and if/how these positions are being unwound. Although the CME speculators represent a small fraction of trading in the currency markets, their trades are widely seen as typical of hedge fund investors' currency movements. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-10-08/19460-cftc-trader-positioning-data Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 5, 2012 Author Share Posted November 5, 2012 Market Analytics:FBS Markets Inc. Analysts: trading EUR/USD EUR/USD finally broke out from a sideways range. The pair trades below the $1.2800 hurdle and below the 200-day MA. No wonder that many specialists maintain a bearish view on the single currency. According to analysts at Shelter Harbor Capital, the recent EUR/USD downtrend is less about the US and more about the problems of the rest of the world. Specialists are concerned about the disagreements in the Greek government and the Catalonia's push for independence from Spain. They recommend going short on EUR/USD at current levels, targeting $1.2500 and with a stop at $1.2950. Saxo Bank specialists also recommend opening short positions, with a $1.2600 target and a stop at $1.2930. Meanwhile, Nomura strategists are more moderate in views. They note a win by Mitt Romney could support the dollar. However, they believe capital flows out of Europe have slowed, so it will be hard for the euro to move much below $1.2750. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-05/19933-analysts-trading-eurusd Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 5, 2012 Author Share Posted November 5, 2012 Market Analytics:FBS Markets Inc. Trader's info: economic data by county The table below provides recent data on the main macroeconomic indicators and is an extremely valuable resource for any trader Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-05/19934-traders-info-economic-data-county Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 7, 2012 Author Share Posted November 7, 2012 Market Analytics:FBS Markets Inc. November 7: forex news US dollar weakened versus its counterparts as President Barack Obama won the election defeating Republican Mitt Romney. According to the preliminary data, Obama got 303 electoral votes, while Romney – only 203 (huffingtonpost.com). To win candidate has to obtain 270 votes. The market’s speculating that the US will continue monetary stimulus policies which tend to weaken the currency. Risky currencies went up after their initial deep. AUD/USD rose to $1.0450. NZD/USD got up to $0.8280. USD/JPY is trading in the 80.00 yen area after visiting 79.80 earlier today. USD/CHF slid to 200-day MA at 0.9390. As for Congressional elections, the Democrats look set to retain a majority in the Senate while the Republicans also appear to be solidifying their control of the House of Representatives. As a result, the risks of political stalemate are quite real and the market’s risk appetite probably won’t last long. EUR/USD retraced above $1.2850 returning above the 200-day MA after it hit $1.2763 yesterday. Greek parliament will debate today on 13.5 billion euro of austerity measures needed to unlock a 31 billion-euro ($40 billion) portion of international aid. A roll- call vote is expected after 18:00 GMT today. Meanwhile, in Spain Prime minister Mariano Rajoy said that the nation still hasn’t decided about the bailout yet. Tomorrow investors will be watching the ECB meeting. GBP/USD returned back above $1.6000. After the US elections the market focus will now shift to Thursday’s Bank of England interest rate decision. USD/CAD tested 0.9891 (nearly a three-month low). Yesterday Canadian Ivey PMI came out in line with forecasts at 58.3 in October vs. 60.4 in September. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-07/19962-november-7-forex-news Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 7, 2012 Author Share Posted November 7, 2012 Market Analytics:FBS Markets Inc. Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (2 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2750, $1.2800, $1.2850, $1.2875, $1.2900, $1.2955; USD/JPY: 79.75, 79.95, 80.00, 80.50; GBP/USD: $1.5915, $1.6025; AUD/USD: $1.0370, $1.0375, $1.0400, $1.0425; EUR/JPY: 104.00; EUR/GBP: 0.8035. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-07/19966-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 7, 2012 Author Share Posted November 7, 2012 Market Analytics:FBS Markets Inc. USD/CAD: prepare to go long Risk sentiment propped up Canadian dollar versus the greenback. The pair USD/CAD has returned inside the Ichimoku Cloud and slid below 0.9900 getting support at 0.9877 (daily Kijun-sen). Next support levels are at 0.9845 (23.6% retracement of the decline from June highs to September lows; trend line support; 50-day MA) and 0.9800 (the Cloud’s bottom). Resistance is found at 0.9935 (today’s high, the Cloud’s top), 0.9960 (38.2% retracement, 100-day MA), 0.9990 (200-day MA), 1.0000, 1.0020 (October high). As there are reasons to expect the deterioration of the market’s risk sentiment we still recommend looking for the levels to buy USD/CAD on the dips to 0.9845/00 targeting levels above the parity. Chart. Daily USD/CAD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-07/19968-usdcad-prepare-go-long Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 7, 2012 Author Share Posted November 7, 2012 Market Analytics:FBS Markets Inc. GBP/USD stands still ahead of BoE GBP/USD consolidates below $1.6000 after peaking at $1.6041 on Obama re-election. The investors are indecisive ahead of the BoE monetary policy decision on Thursday. Note that the pair remains into the middle of the daily Ichimoku Cloud and below the 50-day MA. Commerzbank: GBP/USD will consolidate in a near term ahead of further losses. The next targets are seen at $1.5912 (August 23 minimum, 50% retracement of an August-September uptrend) and then at $1.5846 (200-day MA). The bearish outlook may be neutralized only above $1.6185. We concede an intraday rally towards the 50-day MA ($1.6070). The Bank of England is expected to leave quantitative easing unchanged at 375 bln pounds and interest rates on hold at 0.5% on Thursday after the economy grew by 1.0% in Q3. Economists were previously forecasting a further £50bn injection of QE at this month's policy meeting, but that view changed after the positive GDP figures. Moreover, the BoE’s deputy governor Charlie Bean questioned in a speech whether QE could boost growth in the current economic climate. Chart. Daily GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-07/19977-gbpusd-stands-still-ahead-boe Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 8, 2012 Author Share Posted November 8, 2012 Market Analytics:FBS Markets Inc. November 8: forex news Yesterday’s sparkle of risk appetite dimmed as investors started reflecting upon the fact that re-elected President Barack Obama and the US Congress will have a hard time in the coming months trying to avert the fiscal cliff. Today is a busy day with 2 central banks’ meetings and 5 trade balance releases. Asian stocks declined and yen strengthened as a safe haven. USD/JPY eased down to support at 79.85 (32.8% retracement). EUR/JPY slipped to 101.75 yen, the lowest level in almost a month. AUD/USD is very uncertain around $1.0400, down from yesterday’s spike of $1.0480 even despite better-than-expected labor market data (10.7K of new jobs in October, unemployment rate didn’t rise from 5.4%, though these figures are actually lower than in September). EUR/USD is hovering around $1.2750 (38.2% retracement). Yesterday the pair formed a candle with long shadows and touched a two-month low at $1.2736. The single currency came under pressure after the European Commission predicted a weaker economic situation in the euro zone throughout 2013. Spanish economy is expected to shrink by 1.4% in 2013. Moreover, Spain and France will miss their deficit targets. The Greek parliament has finally approved the austerity package needed to get the next 31.5 billion euro tranche. The decision, however, has already been priced in by the markets. Revived concerns about the fiscal cliff sap the risk appetite. Today watch the ECB Press Conference at 11:00 GMT and the US trade balance and unemployment claims at 11:30 GMT. GBP/USD remains below $1.6000 after having tested $1.5953. Watch the BoE monetary policy decision at 12:00 GMT. USD/CAD moves up, but remains below parity. Yesterday the pair touched a 2-week low at 0.9873. Canada will publish its September trade balance today at 13:30 GMT. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-11-08/19986-november-6-forex-news Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 8, 2012 Author Share Posted November 8, 2012 Market Analytics:FBS Markets Inc. USD/CHF is fighting with resistance USD/CHF started this week above the key resistance provided by 200- and 50-day MAs in the 0.9390 area and inside the daily Ichimoku Cloud. US dollar’s trading at resistance of 0.9450 (50% of this year’s advance) for the fourth day in a row. The next resistance levels are at 0.9540 (100-day MA) and 0.9575 (top of the daily Cloud). Commerzbank: As the pair managed to close above October high of 0.9438, USD/CHF will recover to 0.9505 and then to 0.9580 (50% retracement of the decline from July highs to October lows). On the downside, the pair’s decline will be limited by 0.9300 and 0.9215/0.9195 (October minimums, May 7, 8 minimums). There’s a small divergence on the H4 MACD, so the pair may dip to 0.9425/0.9390 before resuming its advance. The pair’s still broadly supported by the weekly Ichimoku Cloud which lies about 200 pips below the current price. Chart. Daily USD/CHF Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-08/19991-usdchf-fighting-resistance Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 8, 2012 Author Share Posted November 8, 2012 Market Analytics:FBS Markets Inc. EUR/USD: news from the battlefield EUR/USD is hovering above $1.2750 (38.2% retracement) and remains below the 200-day MA. Yesterday the pair formed a candle with long shadows and touched a two-month low at $1.2736. The pair stands above the strong support at $1.2747 (June highs). A slide lower would open the way for further losses: here the $1.2600 mark heaves in sight (100-day MA, 50% Fib. retracement). Note that the pair remains in a downtrend since the mid-October. However, on the H4 chart one may see a bearish convergence (bullish sign). Resistance is seen at $1.2800, $1.2825 (200-day MA), $1.2870/75 (50-week MA and November 7 high) and at $1.2900 (50-day MA and 23.6% Fib. retracement from a July-September uptrend). Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-08/19993-eurusd-news-battlefield Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 8, 2012 Author Share Posted November 8, 2012 Market Analytics:FBS Markets Inc. EUR/JPY: downside risks exist EUR/JPY has been rising since the end of July when it hit the minimal levels since 2000 around 94.10 yen. Now the pair is at a crossroads. Yesterday we’ve cited the recommendation of MIG Bank to buy the pair. Yet, we think that the situation is far from so definite. It’s obvious that the pair will find hard to break above resistance line connecting the maximums of April 2011, March 2012 and the recent October highs. The shooting star formed on the weekly chart a week ago also doesn’t bring much happiness underlining that the longer-term downtrend is still in place. EUR/JPY is trading at 102 yen, at 200-day MA, close to the minimal levels in almost a month. On the H4 chart it’s capped by the 200-period MA (102.19). The pair’s currently hovering above the 38.2% Fibo fan line. If the pair slide below today’s lows (101.75), it will become extremely vulnerable for a decline to 100 handle where it will find some initial support and even to 99.50 (mid-September minimums). Other support levels include 101.20, 100.80 and 100.45 (see the chart). The pair tends to follow overall global sentiment, so there’s really a risk that the selling will accelerate taking into account US fiscal cliff issue and deteriorating European economy. Chart. Daily EUR/JPY Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-08/19995-eurjpy-downside-risks-exist Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 8, 2012 Author Share Posted November 8, 2012 Market Analytics:FBS Markets Inc. AUD/USD: technical & fundamental AUD/USD hovers above $1.0400, down from yesterday’s spike of $1.0480. The Aussie’s growth remains limited in a risk-off environment even despite better-than-expected labor market data (10.7K of new jobs in October, unemployment rate didn’t rise from 5.4%, though these figures are actually lower than in September). The RBA statement will be released tomorrow. NAB: The RBA needs to see some further deterioration in the labor market to cut again. Today’s data were positive, but by February there should be enough evidence that the economy needs some further support. The next resistance for the pair is seen at $1.0480 (November 7 high), $1.0518 (September 21 high, 78.6% Fib. retracement), $1.0560 (resistance, descending from July 2011 highs) and $1.0620 (August and September highs). The support seems to be strong for now: the pair trades far above the important $1.0330/50 support area, where the 50-, 100- and 200-day MAs came together. As can be seen from the weekly chart, the pair also trades above the crossing 50- and 100-week MAs ($1.0330). The next support is seen at $1.0235 (October 23 low), $1.0200 (October 15 low) and at $1.0150 (October minimum). Chart. Daily AUD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-08/19996-audusd-technical-fundamental Quote Link to comment Share on other sites More sharing options...
internationallove Posted November 8, 2012 Author Share Posted November 8, 2012 Market Analytics:FBS Markets Inc. NZD/USD: down and up NZD/USD fell below an important support at $0.8185 (38.2% retracement of September advance) sliding to $0.8160, to the uptrend support line. Kiwi was hit by weak labor market data released in New Zealand. The number of employed people fell by 0.4% in September; unemployment rate rose from 6.8% to 7.3%, while economists expected a decline to 6.7%. Next week will be reach with data from the New Zealand: housing market indicator on Monday, retail sales volume on Wednesday, jobs advertisements, PMI and monthly consumer confidence on Thursday. At the same time, these releases aren’t usually significant market movers. Analysts at Westpac think that NZD will remain under pressure in the week ahead. In their view, the pair NZD/USD will slide to 0.8065 (200-day MA). After that the pair may take course up returning to September highs around 0.8350 as New Zealand economy remains relatively strong and its recovery is intact. Support for kiwi lies at $0.8135 (50% retracement), 0.8110/00 (100-day MA; October 23 minimum) and $0.8080 (61.8% retracement). Chart. Daily NZD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here: http://www.fbs.com/analytics/2012-11-08/19999-nzdusd-down-and Quote Link to comment Share on other sites More sharing options...
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