Easy Forex Weekly Forex Outlook 12-04-2013
April 12, 2013 4:30 pmVideo
Latest News
- Market Comment – Dollar slides as Powell rules out rate hikes May 2, 2024
- RBA decision: will a rate hike be back on the table? – Preview May 2, 2024
- Video market update for May 02, 2024 May 2, 2024
- Technical Analysis – Bullish pressure in AUDUSD lingers May 2, 2024
- Key events on May 2: fundamental analysis for beginners May 2, 2024
- Trading plan for GBP/USD on May 2. Simple tips for beginners May 2, 2024
- Trading plan for EUR/USD on May 2. Simple tips for beginners May 2, 2024
- Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Thursday May 02 2024. May 2, 2024
- Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 02 2024. May 2, 2024
- Forecast for EUR/USD on May 2, 2024 May 2, 2024
- Forecast for GBP/USD on May 2, 2024 May 2, 2024
- Forecast for AUD/USD on May 2, 2024 May 2, 2024
- Bank of Japan is trapped and increasingly dependent on the Fed’s stance. Overview of USD/JPY May 2, 2024
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
- Video market update for May 01, 2024 May 1, 2024
- What do Q1 earnings hold for Disney’s stock? – Stock Markets May 1, 2024
- Will the post-FOMC jobs report move the dollar? – Preview May 1, 2024
Weekly Outlook – 11th March 2013
USD/JPY soaring as US Data Improves
Last week’s currency trading review
USD/JPY persistently strong US data is helping the Yen pair tofresh multi year highs with February US Nonfarm payrolls beating expectationsat 236k vs. 160k forecast and the Unemployment Rate dropping sharply to 7.7%vs. 7.9% previously. The FED has recently linked the QE3 program to theUnemployment rate with 6.5% the figure mentioned as its target.
EUR/USD was able to bounce from 1.3000 to 1.3100 after the ECB wasmore neutral than forecast at its monthly meeting and President Draghi failedto talk down the single currency. The rally didn’t last long however with theStrong US jobs data the catalyst for further USD buying and pushed the majorback under 1.3000.
Currency Movement last week
EUR/USD was down -0.16% closingat 1.2996, after opening the week at 1.3017.
USD/JPY was up +2.60% closingat 96.02, after opening at 93.52.
GBP/USD was down -0.84% closingat 1.4909 after opening at 1.5034.
AUD/USD was up +0.32%closing at 1.0234 after opening at 1.0201.
This Week’s Trading Preview
Technical Analysis
USD/JPY
11/03/2013 01:49
1 week Trend: (=)
1 month Trend: (=)
USD/JPY intraday: further advance.
Pivot: 95.45
Our preference: Long positions above 95.45 with targets @ 96.5 & 96.8 in extension.
Alternative scenario: Below 95.45 look for further downside with 94.8 & 94.35 as targets.
Comment: the next resistances are at 96.5 and then at 96.8.
Key levels
97
96.8
96.5
96.114 last
95.45
94.8
94.35
Importantnote:This technical report is provided to Easy-Forex™ as a subscriber of TradingCentral. It is forwarded for informative purposes only, per your specificrequest. In no way it is a recommendation by Easy-Forex™ to you to engage inany trade. Hence, Easy-Forex™ shall not be held responsible for any outcome oftrading decisions, in regards with this report or similar reports. You herebyacknowledge that using the information entailed in these reports is at yoursole responsibility and you will have no claims with regards to these reportsagainst Easy-Forex™. If you do not agree to this, you are strongly advised notto use this report.
Forex Economic Data Preview
In the States; On Tuesday, February Retail Sales forecast at 0.5%vs. 0.1% previously. On Thursday, PPI forecast at 0.6% vs. 0.2% previously.Also, Weekly Jobless Claims forecast at 355k vs. 340k previously. On Friday, February CPI forecast at 0.4% vs. 0.0% m/m. AlsoFebruary Industrial Production forecast at 0.3% vs. -0.1% previously.Preliminary March UoM Consumer sentiment forecast at 78.2 vs. 77.6 previously. We will provide our previews and reviews ofthese data releases in the daily summary.
In the Eurozone; On Monday, January German Trade Balance forecastat 17.9bn vs. 16.8bn previously. On Wednesday, January EU Industrial Productionforecast at -0.1% vs. 0.7% previously. On Friday, February CPI forecast at 1.8%vs. 1.8% previously. Also EU Economic Summit. In the UK; On Tuesday, January Manufacturing Production forecastat 0.1% vs. 1.6% previously. Also January Trade Balance forecast at -8.8bn vs.-8.9bn. We will provide our previews and reviews of these data releases in the daily summary.
In Japan; on Tuesday, BOJ monetary minutes. In Australia; OnWednesday, Westpac March Consumer Sentiment. On Thursday, February Employment Change forecast at 10.7k vs. 10.4kpreviously. Also Unemployment rate forecast at 5.5% vs. 5.4% previously.
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: