Easy Forex Daily Forex Report 02-01-2013
January 2, 2013 11:19 amVideo
Latest News
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
US Fiscal Cliffhanger Sparks 2013 ‘Risk On’
U.S. Dollar Trading (USD) traders have returned to a new year of Trading with
bulls firmly in control after the US fiscal cliff crisis was adverted in a late
minute deal between Republicans and President Obama. Risk assets from Oil to stocks have all rallied
aggressively in Asia on Wednesday. Looking ahead, December ISM Manufacturing forecast at 50.2 vs.
49.5 previously.
The Euro (EUR) the EUR/USD tested 1.3300 resistance in the post
fiscal cliff deal rally in Asia. The upside range has been at 1.3300 over the
last few months and a break and close above could lead to further gains. EUR/JPY is leading the pack higher with a 170pip
rally in Asia. The resistance at Y116 held on the first attempt but traders
have been very aggressive on the EUR/JPY lately so it could be just a matter of
time before we break higher. The Sterling (GBP) has surged back to life in the last 2 trading days
moving from 1.6150 to 1.6350 as the bears were caught on the wrong side of the
market and GBP/JPY soared higher. The Pound had been out of favor since the
Bank of England signaled it could still do more aggressive easing in coming
months. Looking ahead, December EU PMI Manufacturing forecast at 46.3. Also UK
December PMI forecast at 49.2.
The Japanese Yen (JPY) USD/JPY is heading in only one direction lately and we
opened Asia with even more gains breaking above Y87 on the back of the fiscal
cliff news. EUR/JPY is leading the Yen crosses and is the strongest trend in
the market. Australian Dollar (AUD) the Aussie is a risk sensitive currency so even with
the technical pointing for downside test last week we have found ourselves
dragged higher by outside factors. Some crosses are even gaining as the market
has got caught short AUD in the last few days. For the AUD/USD we are watching
the 1.0500 level as the next major resistance.
Oil & Gold (XAU) Gold is back on the front foot after finding support
last week is grinding higher taking advantage of USD weakness. Oil is soaring
as well, above $92 a barrel now in multiple dollar gains over the last few
sessions.
Pairs to watch
EUR/USD to test 1.3300
now traders return?
USD/JPY Above Y87 will
we see a pullback soon?
TECHNICAL
COMMENTARY
Currency
Sup 2
Sup 1
Spot
Res 1
Res 2
EUR/USD
1.3156
1.3195
1.3260
1.3308
1.3368
USD/JPY
85.48
86.45
87.15
88.00
88.12
GBP/USD
1.6215
1.6266
1.6315
1.6350
1.6500
AUD/USD
1.0294
1.0367
1.0465
1.0486
1.0500
XAU/USD
1635.00
1660
1678
1684
1690
OIL/USD
90.00
91.50
92.60
94.00
95.00
By Anthony Darvall (TonyD)
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
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