Daily Forex Analysis September 18, 2012

180912eurusd

Fundamental Part

Today´s first news will concern about CPI in the Britain which will be published at 9:30 am GMT. This high impact news has reached 2.6 percent inflation in a previous report. Analysts are expecting slight decline in inflation to 2.5 percent.

At 10:00 am GMT ZEW is going to publish figures about German economic sentiment. It is expected improvement from minus 25.5 to minus 19.2 points. Both figures are suggesting pessimism. Also this news will have a high impact on the euro.

Also at the same time we can expect figures from ZEW about economic sentiment for the Eurozone. Previous figures showed fall by 21.2 points and it is expected improvement to minus 16.3 points. Also both numbers means pessimism. But this news will have only medium impact.

Last news for today will concern about current account in the United States. This new will have a medium impact and it will be released at 1:30 pm GMT. Analysts are expecting lower deficit at $126 billion while previous deficit reached $137 billion.


 

Technical Part

The EURUSD analysis

180912eurusd

Sideway moving Alligator is suggesting consolidation. Rebounding Stochastic is favoring upward move and buy signal. Strong downtrend is being indicated by Aroon and MACD fell below zero confirming decline while consolidation is still in favor.

Narrowing Bollinger bands and price below SMA are suggesting further fall. RSI in the seller´s zone indicates further decline but at the moment consolidation is also in favor. CCI in the seller´s zone suggest downward move but break above zero line will confirm rise and buy signal.

According to the previous events the market is suggesting bearish opportunity.

If price holds below daily pivot at 1.3123 we can expect price will be limited by 1.3076 support and consolidation will continue. Deeper decline will confirm downward move and open way towards support at 1.3035. But if price rebounds sustained rise above last high will confirm upward movement and target at 1.3164 resistance.

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The USDJPY analysis

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The Alligator is probably indicating that price has formed top and decline is now in favor. Stochastic reaching oversold zone is favoring downward move. Strong downtrend indicated by Aroon supports previous conclusions and MACD falling below zero line confirms downside movement.

Expanding Bollinger bands and price below SMA are indicating downward move. RSI fell into the seller´s zone suggesting sell signal and downward move. CCI on the upside indicated buy signal but still remains in seller´s zone.

According to the previous events the market is suggesting bearish opportunity.

Price has declined below daily pivot at 78.596 and fall below 78.455 will confirm target at 78.260 support. Sustained fall below this level will then approach next objective at 77.837 support. Also rebound from first support will confirm consolidation and it will be probably limited from above by 78.735 resistance.

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The GBPUSD analysis

180912gbpusd

Sideway moving Alligator is suggesting consolidation and Stochastic is favoring buy signal and upward move. Strong downtrend is being indicated by Aroon and MACD will confirm consolidation if it holds above zero line. Fall below zero will support further fall.

Price above SMA and probably narrowing Bollinger bands are suggesting upward move. RSI confirms consolidation and upward move if it holds in buyer´s zone. CCI is indicating buy signal and further increase can be expected.

According to the previous events the market is suggesting bullish opportunity.

If price holds above daily pivot at 1.6244 price will focus on resistance at 1.6277 where new high will be probably formed and subsequently we can expect correction. Further rise towards 1.6306 hasn´t been excluded yet. But decline below daily pivot will negate previous conclusions and target could be possibly at 1.6215 support.

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The USDCHF analysis

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The Alligator is suggesting consolidation of the USDCHF. Stochastic has reached oversold zone suggesting decline. Uptrend indicated by Aroon is weakening and trend reversal can be expected. MACD supports the conclusion about consolidation.

Falling Bollinger bands and price below SMA are suggesting deeper decline. RSI in the seller´s zone is indicating decline. On the other hand CCI indicated buy signal and if it continues in current rise it will confirm rise and another buy signal.

According to the previous events the market is suggesting bullish opportunity.

Price testing daily pivot at 0.9272 is suggesting consolidation which is probably limited by 0.9297 resistance from above and by support at 0.9247 from below. Sustained rise above or fall below one of the lines will be suggesting next target at 0.9322 resistance or 0.9222 support.

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Daily Forex Analysis November 13, 2012


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Fundamental Part First news for today will be published at 9:30 am GMT when Office for National Statistics will release...

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