Easy Forex Daily Forex Report 19-09-2012
September 19, 2012 11:53 amVideo
Latest News
- EUR/USD and GBP/USD: Technical analysis on May 10 May 10, 2024
- Forecast for EUR/USD on May 10, 2024 May 10, 2024
- Forecast for GBP/USD on May 10, 2024 May 10, 2024
- Forecast for AUD/USD on May 10, 2024 May 10, 2024
- Outlook for GBP/USD on May 10. The British pound failed. Or it simply refused May 10, 2024
- Outlook for EUR/USD on May 10. The euro went up for no reason May 10, 2024
- The US dollar stumbled again May 10, 2024
- The euro got away with it May 10, 2024
- Video market update for May 09, 2024 May 9, 2024
- Analysis of EUR/USD pair on May 9th. Euro woke up after the Bank of England meeting May 9, 2024
- Analysis of GBP/USD pair on May 9th. Andrew Bailey did all he could May 9, 2024
- USD/JPY: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- GBP/USD: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- EUR/USD: Simple trading tips for novice traders for May 9th (US session) May 9, 2024
- Technical Analysis – GBPUSD retreats further after BoE’s decision May 9, 2024
- Technical Analysis – UK 100 index swings to all-time high May 9, 2024
- GBP/USD: trading plan for the US session on May 9th (analysis of morning deals). The pound continues to be held within the May 9, 2024
- EUR/USD: trading plan for the US session on May 9th (analysis of morning deals). The euro rebounded from 1.0726 May 9, 2024
- EUR/USD. May 9th. Bulls have exhausted their strength May 9, 2024
- GBP/USD. May 9th. Bulls fear Bailey’s “soft” rhetoric May 9, 2024
Profit Taking Continues, Bank of Japan Meeting
U.S. Dollar Trading (USD) stocks
dipped overnight but we found support quickly and the bulls remain in control.
The USD was able to hold onto small gains overnight as the EUR/USD led the
other majors lower. Traders are still looking to sell the USD however at better
levels given the ultra-loose FED monetary policy. Looking ahead, August
Build Permits forecast at 0.796mn vs. 0.765mn.
The Euro (EUR) another leg lower
towards 1.3000 overnight as the market worried about the Spanish commitment to
a bailout with talk that they are still evaluating the need for ECB money. The
markets are pushing Spain to accept the bailout and implement budget cuts. Big
support for the major is seen close to the 1.3000 level. The Sterling (GBP) the
GBP/USD held gains against the USD and gained across the other currencies as
the outperformance continued. EUR/GBP fell to 0.8030 and is eyeing a retest of
the 0.8000 level. GBP/JPY back at Y128 and will be looking retest the critical
Y130 level.
Looking ahead, September UK MPC forecast at 9-0
unchanged.
The Japanese Yen (JPY) USD/JPY is
retesting Y79 today in Asia as the BOJ announce fresh easing measures to help
stimulate a faltering recovery. The BOJ is targeting to get inflation back to
at least 1.0% and currently we are near deflationary spiral as asset values
fail to match CPI gains. EUR/JPY and GBP/JPY are both near recent highs and
looking to continue uptrends. Australian Dollar (AUD) the
Aussie was the weakest currency in the market overnight with more China
slowdown concerns and weakness in commodities putting the sellers in control. The
AUD/USD has now pulled back 200 pips since Friday’s highs and is losing ground on
all its’ crosses. The feeling towards the AUD/USD is mixed with the strong
stock outlook supporting but fears that the Australia economy has peaked and
entering a contractionary business cycle are weighing. UPDATE BOJ Hold at 0.1% but expand bond buying
program.
Oil & Gold (XAU) Gold returned
to the uptrend trading back to $1770. OIL/USD fell back with US
stocks to $95 a barrel again but quickly found support and is well bid back above
$96.
Pairs to watch
EUR/USD uptrend to continue?
XAU/USD Japan joins easing party, Gold higher again
TECHNICAL COMMENTARY
Currency
Sup 2
Sup 1
Spot
Res 1
Res 2
EUR/USD
1.2980
1.3000
1.3065
1.3120
1.3173
USD/JPY
78.00
78.35
79.10
79.38
80.00
GBP/USD
1.6065
1.6175
1.6255
1.6304
1.6335
AUD/USD
1.0401
1.0425
1.0455
1.0505
1.0555
XAU/USD
1724.00
1745
1772
1776
1810
OIL/USD
94.50
95.00
95.90
97.50
98.55
By Anthony Darvall (TonyD)
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
Click here to visit Easy-Forex.com
Related Posts: