Easy Forex Daily Forex Report 21-09-2012
September 21, 2012 11:46 amVideo
Latest News
- Analysis of EUR/USD pair on May 24, 2024 May 24, 2024
- Analysis of GBP/USD pair on May 24th. Another British report showed weakness, but who cares? May 24, 2024
- USD/JPY: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- GBP/USD: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- EUR/USD: Simple trading tips for novice traders for May 24th (US session) May 24, 2024
- GBP/USD: trading plan for the US session on May 24th (analysis of morning deals). Sellers missed 1.2700 May 24, 2024
- EUR/USD: trading plan for the US session on May 24th (analysis of morning deals). The euro is not going to give up May 24, 2024
- EUR/USD. May 24th. The bears are starting to go on the offensive May 24, 2024
- Forecast of GBP/USD pair on May 24, 2024 May 24, 2024
- Trading Signals for EUR/USD for May 24-28, 2024: sell below 1.0864 (200 EMA – 21 SMA) May 24, 2024
- Trading Signals for GOLD (XAU/USD) for May 24-28, 2024: buy above $2,333 (200 EMA – oversold) May 24, 2024
- Weekly Forex Outlook: 24/05/2024 – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – Is the pause in NGAS a warning signal? May 24, 2024
- Technical Analysis – USDCAD eases slightly after bullish rally May 24, 2024
- Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – GBPJPY continues its journey north May 24, 2024
- Video market update for May 24, 2024 May 24, 2024
- Forex forecast 05/24/2024: EUR/USD, GBP/USD, USD/CAD, Gold and Bitcoin from Sebastian Seliga May 24, 2024
- USD/JPY: trading tips for beginners for European session on May 24 May 24, 2024
- GBP/USD: trading tips for beginners for European session on May 24 May 24, 2024
China PMI shows Global Slowdown Continues
U.S. Dollar Trading (USD) the Dollar
was strong for the most of the day as manufacturing PMI’s around the world
showed the global outlook was still weak. China HSBC Manufacturing PMI remained
under 50 at 47.8 and is the 11th month of contraction. The general environment
for global stocks though is positive due to the ongoing aggressive easing from central
banks. Looking ahead, FOMC
Member Lockhart Speaks.
The Euro (EUR) the EUR/USD led the
majors lower yesterday as weak longs bailed after the single currency broke through
1.3000.
Support was found eventually at 1.2940 and we rebounded slightly with the US Stocks.
Bulls will be hoping to close the week above 1.3000 as this will set up the
pair for more gains next week. EUR/JPY has been under pressure but is holding
above Y101 for now. The Sterling (GBP) the GBP/USD
outperformed other pairs holding at 1.6180 on the downside before returning to
1.6220 in the US Session. Crosses supported the major with EUR/GBP falling
briefly below 0.8000. Looking
ahead, BoE Governor King Speaks.
The Japanese Yen (JPY) the USD/JPY
trundled along the Y78.20 not moving much on the day with strong support seen
at the Y78 level once again. The QE3 Dollar weakness has been countered
effectively by the BOJ’s own bond buying program. Australian Dollar (AUD) the AUD/USD
was the hardest hit by the weak Chinese data with the pair slipping to week
lows under 1.0400 founding support at the key 1.0380 level before rebounding to
1.0450. The market is now evenly poised with the pro-growth US/ECB countering
the weak China outlook.
Oil & Gold (XAU) Gold sellers
hit support at $1756 twice before reversing back to $1770. OIL/USD rallied slightly up
to $93 but is cautious after the heavy losses in the last few days.
Pairs to watch
EUR/USD Retest 1.3000 Friday?
XAU/USD mood set for $1780 retest?
TECHNICAL COMMENTARY
Currency
Sup 2
Sup 1
Spot
Res 1
Res 2
EUR/USD
1.2827
1.2900
1.2980
1.3120
1.3173
USD/JPY
77.46
78.00
78.30
78.84
79.23
GBP/USD
1.6065
1.6145
1.6225
1.6273
1.6335
AUD/USD
1.0368
1.0405
1.0455
1.0525
1.0545
XAU/USD
1724.00
1745
1770
1776
1810
OIL/USD
90.00
92.50
93.00
95.00
96.50
By Anthony Darvall (TonyD)
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
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