Forex Technical & Market Analysis: June 03 2013

Forex Technical & Market Analysis: April 15 2013

Apr 15 • Market Analysis • 3836 Views • Comments Off on Forex Technical & Market Analysis: April 15 2013

2013-04-15 03:50 GMT

Eurogroup releases statement on Cyprus

Eurozone finance ministers, who are holding talks in Dublin today, have released a statement on Cyprus in which they assure that the country has met all the requirements, allowing for the bailout deal to be completed. According to the document: The Eurogroup notes with satisfaction that the Cypriot authorities have implemented decisive bank resolution, restructuring and recapitalisation measures to address the fragile and unique situation of Cyprus' financial sector. The Eurogroup commends the authorities for their demonstrated resolve in implementing these important measures in a tight timeframe and reiterates its appreciation for the efforts made by the Cypriot citizens over the last weeks.” Eurozone finance ministers expect the bailout fund ESM board to give the green light to the proposal of granting Cyprus a 10 billion euro bailout on April 24. The first tranche of the aid could then be released by mid-may.

Following the release of the statement on the Cypriot bailout, Eurozone finance ministers, who hold talks today in Dublin, announced that the loan repayment for Ireland and Portugal would be extended. Eurogroup chief Jeroen Dijsselbloem confirmed that the Eurozone finance ministers agreed to give seven more years to Portugal and Ireland to repay their bailout loans amounting to 78 billion euros and 85 billion euros, respectively. He also informed that the maturity extension will most probably be approved at the upcoming Ecofin meeting, which kicks off later today. EU Commissioner Olli Rehn expressed hope that Ecofin would give the green light to the measure, which in his opinion is an important step on the road to exiting the rescue


2013-04-15 09:00 GMT

EMU. Trade Balance s.a. (Feb)

2013-04-15 12:30 GMT

USA. NY Empire State Manufacturing Index (Apr)

2013-04-15 13:00 GMT

USA. Total Net TIC Flows (Feb)

2013-04-15 14:00 GMT

USA. NAHB Housing Market Index (Apr)


2013-04-15 04:34 GMT

Draghi testimony key in the week ahead for euro – UBS

2013-04-15 04:08 GMT

EUR/JPY, stops below 127.70 tripped

2013-04-15 03:45 GMT

USD/CAD catching a firm bid, trading up 43 pips at 1.0184

2013-04-15 03:08 GMT

NZD/USD again below 0.85

Forex Technical Analysis  EURUSD

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Possibility of market strengthening is seen above the immediate resistive barrier at 1.3103 (R1). Price extension above it is required to validate our next intraday targets at 1.3128 (R2) and 1.3154 (R3) Downwards scenario: Further correction development is limited now to the session low – 1.3043 (S1). If the price manages to surpass it we would suggest next intraday targets at 1.3015 (S2) and 1.2988 (S3).

Resistance Levels: 1.3103, 1.3128, 1.3154

Support Levels: 1.3043, 1.3015, 1.2988


Forex Technical Analysis  GBPUSD

Upwards scenario: Next resistance level is seen at 1.5355 (R1). Subsequently loss here might create upside momentum and drive market price towards to our initial targets at 1.5384 (R2) and 1.5415 (R3) in potential. Downwards scenario: An important technical level is seen at 1.5306 (S1). Market decline below this level might initiate bearish pressure and drive market price towards to our next targets at 1.5282 (S2) and 1.5257 (S3).

Resistance Levels: 1.5355, 1.5384, 1.5415

Support Levels: 1.5306, 1.5282, 1.5257

Forex Technical Analysis  USDJPY

Upwards scenario: Next hurdle on the upside is seen at important technical level – 98.62 (R1). If the price manages to overcome it we expect further acceleration towards to our initial targets at 99.17 (R2) and 99.71 (R3). Downwards scenario: Price regress below the support level at 97.55 (S1) would increase likelihood of failing towards to our key supportive barrier at 97.08 (S2) and any further market decline would then be targeting final support for today at 96.57 (S3).

Resistance Levels: 98.62, 99.17, 99.71

Support Levels: 97.55, 97.08, 96.57

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