Forex Technical & Market Analysis FXCC Aug 01 2013

by **Admin** Thu Aug 01, 2013 7:41 am

Forex Technical & Market Analysis FXCC Aug 01 2013

Mixed data spur controversies on Chinese PMI data restrictions

Last month, the National Bureau of Statistics restrained industry-specific data upon publication of Purchasing Manufacturing indexes. Under the premise implying not enough resources were available to make such analysis public, the Chinese opted to suspend relevant information indicative of this year’s economic performance. As stated by the vice president of the China Federation of Logistics & Purchasing, “We now have 3,000 samples in the survey, and from a technical point of view, time is very limited — there are many industries, you know”. While Chinese provide zero point zone explanations, speculation concerning the reasons behind such measures continues to surge.
https://support.fxcc.com/email/technical/01082013/

FOREX ECONOMIC CALENDAR :
2013-08-01 11:00 GMT | UK. BoE Interest Rate Decision
2013-08-01 11:45 GMT | EMU. ECB Interest Rate Decision
2013-08-01 12:30 GMT | EMU. ECB Monetary policy statement and press conference
2013-08-01 14:00 GMT | USA. ISM Manufacturing PMI

FOREX NEWS :
2013-08-01 04:12 GMT | GBP/USD at fresh session lows ahead of London
2013-08-01 03:09 GMT | USD/JPY totally flat for the week above 98 waiting NFP
2013-08-01 02:55 GMT | AUD/USD, 0.8858 and 8775 next targets - 2ndSkies
2013-08-01 02:25 GMT | EUR/USD flat for the week inside a 150 pip range

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EURUSD
HIGH 1.33108 LOW 1.32661 BID 1.32698 ASK 1.32702 CHANGE -0.25% TIME 08 : 45:58

OUTLOOK SUMMARY : Neutral
TREND CONDITION : Downward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High

MARKET ANALYSIS - Intraday Analysis

Upwards scenario: Possible upside penetration looks limited now to the next resistive barrier at 1.3288 (R1). Appreciation above this mark might gradually push the pair toward to next targets at 1.3304 (R2) and 1.3319 (R3) in potential. Downwards scenario: As long as price stays below the next resistance level our technical outlook would be negative. Next on tap is support level at 1.3252 (S1). Penetration below this mark would suggest next targets at 1.3238 (S2) and 1.3223 (S3).

Resistance Levels: 1.3288, 1.3304, 1.3319
Support Levels: 1.3252, 1.3238, 1.3223

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GBPUSD :
HIGH 1.52102 LOW 1.51535 BID 1.51597 ASK 1.51599 CHANGE -0.3% TIME 08 : 45:59

OUTLOOK SUMMARY : Down
TREND CONDITION : Down trend
TRADERS SENTIMENT : Bullish
IMPLIED VOLATILITY : High

Upwards scenario: Possible buying interest might push the pair to attack next resistive measure at 1.5187 (R1). Clearance here is required to resume upside formation, targeting marks at 1.5207 (R2) and 1.5226 (R3) later on today. Downwards scenario: On the other hand, loss of our support level at 1.5146 (S1) would open road for a market decline towards to our next target at 1.5128 (S2). Any further price weakening would then be limited to final support for today at 1.5109 (S3).

Resistance Levels: 1.5187, 1.5207, 1.5226
Support Levels: 1.5146, 1.5128, 1.5109

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USDJPY :
HIGH 98.375 LOW 97.658 BID 98.350 ASK 98.353 CHANGE 0.52% TIME 08 : 46:00

OUTLOOK SUMMARY : Up
TREND CONDITION : Upward penetration
TRADERS SENTIMENT : Bearish
IMPLIED VOLATILITY : High

Upwards scenario: Risk of further price appreciation is seen above the next resistance level at 98.46 (R1). Clearance here would suggest next intraday target at 98.66 (R2) and then final aim locates at 98.86 (R3). Downwards scenario: On the other hand, clearance of our support at 98.11 (S1) is required to determine negative intraday bias and enable lower target at 97.90 (S2) and then any further market depreciation would suggest final support at 97.69 (S3).

Resistance Levels: 98.46, 98.66, 98.86
Support Levels: 98.11, 97.90, 97.69

Source: FX Central Clearing Ltd,( http://www.fxcc.com )