Easy Forex Daily Forex Report 26-09-2012
September 26, 2012 1:07 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Big Selloff in US Session
U.S. Dollar Trading (USD) sentiment
turned dramatically negative overnight with stocks in the US falling the most
in 3 months as European concerns and QE3 enthusiasm faded. FED Member Plosser
was highly critical of the QE3 announced by the FOMC and stated he didn’t think
it would lower long term interest rates and risked making the FED look
ineffective.
Looking ahead, Weekly Crude Oil Inventories
forecast at 1.7mil vs. 8.5mil previously.
The Euro (EUR) the EUR/USD rallied
in Europe as sentiment in Germany picked up according to the latest GFK. The market
reversed sharply though on comments from ECB Asmussen on no more refinancing
for Greece. Also
hurting was reports that Spanish strikes had turned violent. A break of 1.2900
targets final large support at 1.2855 with little support below that figure. The Sterling (GBP) GBP/USD
was up and down with the rest of the market reaching 1.6260 twice before
reversing to close below 1.6200 and a weak day of trade technically. The outlook
for a larger pullback towards 1.6000 is very possible with market wide
weakness. Looking ahead, German
CPI forecast at 0.0% vs. 0.4% previously.
The Japanese Yen (JPY) USD/JPY’s time
below Y78 continued with a small rally up to Y77.90 being reversed back to
Y77.70. The big selling pressure and hence Yen strength is seen on the EUR/JPY
and AUD/JPY both of which dropped to new levels overnight. EUR/JPY found
support just above Y100. Australian Dollar (AUD) the
AUD/USD bounced to 1.0460 before the sellers took commodity currency lower to
fresh week lows under 1.0400. The longer term outlook is for losses if the RBA
cuts rates next Tuesday. Looking ahead, no economic data.
Oil & Gold (XAU) Gold rallied to
$1770 before reversing back to support at $1760 and technically negative trade. OIL/USD is under pressure
tracking US stocks lower to below $91 and in striking distance of the key $90 a
barrel.
Pairs to watch
EUR/JPY to test Y100 today?
AUD/USD broken to downside Sell on rallies?
TECHNICAL COMMENTARY
Currency
Sup 2
Sup 1
Spot
Res 1
Res 2
EUR/USD
1.2808
1.2826
1.2895
1.3000
1.3059
USD/JPY
77.13
77.46
77.75
78.23
78.85
GBP/USD
1.6065
1.6181
1.6195
1.6310
1.6335
AUD/USD
1.0315
1.0337
1.0360
1.0425
1.0490
XAU/USD
1724.00
1745
1760
1785
1810
OIL/USD
89.00
90.00
90.90
91.50
93.00
By Anthony Darvall (TonyD)
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
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