DAILY ANALYSIS for 08.10, 2013
Asian and European trading
sessions:
British Pound:
The British pound
responded by declining after information that the Bank
of England will conduct the LTRO operations. The
currency traded relatively volatile and its decline was
not too long: the GBP / USD pair could return to
previous levels, and even then refreshed the session
high. The Bank of England has not reported the detailed
information on the operations of LTRO; the issue
probably will be cleared up at a meeting of the Monetary
Policy Committee, the results of which will be announced
on Thursday. The GBP / USD pair shown low below $
1.6015, but then managed to climb to around $ 1.6115
level where it met a resistance.
Japanese Yen: The
United States President Barack Obama has once
again publicly called on Congress to resume funding the
government and increase the “ceiling" of the public
debt. This was his subject to talk about in his speech
at the Federal Emergency Management Agency. After that
yen reached an eight- week high against the dollar, and
rebound meeting the resistance; the USD / JPY pair rose
to Y97.20.
Swiss Franc: The
Franc rose against the euro, after the head of the Swiss
National Bank Thomas Jordan said that the policy to curb
the growth of the Swiss franc against the euro, which
was introduced two years ago to avoid the dangers of
deflation and recession, was the correct measure to
ensure price stability in the foreseeable future. Recall
that the restriction of the EUR / CHF pair at 1.20 was
introduced on September 11, 2011 to deal with the growth
of the franc, which could undermine the competitiveness
of the Swiss economy, which is the euro zone’s main
export market.
American trading session:
U.S. Dollar: The
data showed that exports to the U.S. economy grew by 1.9
% to 30.1 billion dollars, registering the highest level
since December 2011. Imports from the U.S. rose 0.1 % to
$ 26.1 billion. Thus, the trade surplus with the U.S.
increased from $ 3.4 billion in July to 4.0 billion in
August. The “greenback” was supported by this
news.
Canadian Dollar: The Statistics
Canada reported today that by the end of August trade
deficit increased slightly, despite the forecasts of
experts who waited a decline. Accordingly report, the
Canada's merchandise exports in August rose by 2.1 % to
39.8 billion, and imports rose 1.8% to 41.1 billion,
resulting in a trade deficit rose to $ 1.3 billion,
compared with $ 1.2 billion in July. After the
publication the Canadian dollar declined significantly
against their colleagues.
Gold: The gold
rose on the background of the news that the Chinese
market was opened after a week-long national holidays,
where have seen a small interest in buying the asset.
Also a lack of progress in the budget issue in U.S.
supported the gold prices. The cost of December gold
futures rose to $ 1327.80 per ounce on COMEX
today.
Oil: The prices for
November futures on U.S. light crude oil WTI grew
moderately, rising above $ 103.65 a barrel on the New
York Mercantile Exchange, due to the fiscal crisis in
the United States.
TECHNICAL ANALYSIS for 09.10, 2013
EURUSD
The pair has drawn the Pennant. The end of
the figure maybe expected at 1.36806. The pair should
stay above 1.34882 to be able workout the
figure.
Resistance: 1.35984, 1.37486,
1.38554
Support: 1.34882, 1.33143,
1.31674
GBPUSD
The pair is trading between 1.62050 and
1.60322.
Resistance: 1.62050, 1.63316,
1.64636
Support: 1.60322, 1.58543,
1.56722
USDCHF
The pair has tested 0.89635 and rolling back
to 0.91079.
Resistance: 0.91079, 0.92026,
0.93069
Support: 0.89635, 0.88418,
0.87214
USDJPY
The pair is rolling back to
97.491.
Resistance: 97.491, 98.718,
99.888
Support: 96.400, 95.200,
94.089
AUDUSD
The pair has drawn the Pennant. If the pair
breaks upper level of the Pennant the pair will workout
the figure and rise to 0.95611. If the pair stays below
resistance 0.94635 the pair will decline to
0.93493.
Resistance:
0.94635, 0.95611, 0.96579
Support:
0.93493, 0.92284, 0.91360
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