Analyzing GBP/USD, AUD/USD, EUR/USD, GBP/JPY, EUR/CHF, EUR/JPY
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EUR/USD Technical Analysis
EUR/USD recovers mildly today and a temporary low is possibly formed at 1.3073. Intraday bias is turned neutral and some consolidations would possibly be seen first. Nevertheless, another fall will remain in favor as long as 1.3358 resistance holds. Below 1.3073 will target a test on 1.2969 low first.
Intra-day trading strategy:
1- Buy near 1.3080 stop 1.3040 targets 1.3160 and 1.3195
2- Sell near 1.3235 stop 1.3265 targets 1.3200 and 1.3170
EUR/USD Technical Analysis
EUR/USD recovers mildly today and a temporary low is possibly formed at 1.3073. Intraday bias is turned neutral and some consolidations would possibly be seen first. Nevertheless, another fall will remain in favor as long as 1.3358 resistance holds. Below 1.3073 will target a test on 1.2969 low first.
Intra-day trading strategy:
1- Buy near 1.3080 stop 1.3040 targets 1.3160 and 1.3195
2- Sell near 1.3235 stop 1.3265 targets 1.3200 and 1.3170
Attachments
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Gold (Spot) Technical Analysis
Gold: Gold ($1388.95) was well supported holding above $1380 levels yesterday after China had pledged to assist the Euro-zone which lifted optimism. Overall gold traded yesterday with a low of $1380 and high of $1392. Immediate resistance is at $1408 levels followed by $1,431 levels while immediate support comes near $1365 levels. Buying on dips is recommended
Intra-day trading strategy:
1- Sell near 1396.00 stop 1401.00 targets 1392.00 and 1386.00
Gold (Spot) Technical Analysis
Gold: Gold ($1388.95) was well supported holding above $1380 levels yesterday after China had pledged to assist the Euro-zone which lifted optimism. Overall gold traded yesterday with a low of $1380 and high of $1392. Immediate resistance is at $1408 levels followed by $1,431 levels while immediate support comes near $1365 levels. Buying on dips is recommended
Intra-day trading strategy:
1- Sell near 1396.00 stop 1401.00 targets 1392.00 and 1386.00
Attachments
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Silver (Spot) Technical Analysis
Initial Bias is upside for the silver to 30.00 level but its need to break the 29.60 level to flip to upside. Otherwise to the downside 29.00 is a strong support. Over all silver bias is to the upside.
Intra-day trading strategy:
1- Sell near 30.00 stop 30.07 targets 29.70 and 29.27
2- Buy near 29.25 stop 29.10 targets 29.70 and 29.95
Silver (Spot) Technical Analysis
Initial Bias is upside for the silver to 30.00 level but its need to break the 29.60 level to flip to upside. Otherwise to the downside 29.00 is a strong support. Over all silver bias is to the upside.
Intra-day trading strategy:
1- Sell near 30.00 stop 30.07 targets 29.70 and 29.27
2- Buy near 29.25 stop 29.10 targets 29.70 and 29.95
Attachments
P
EURUSD Economic Outlook for Jan 3 to 7
1. German Retail Sales: Publication time unknown at the moment. Europes largest economy enjoyed a jump in the volume of sales last month 2.3%, but this was a correction to a similar fall beforehand. A more modest rise is expected now.
2. Final Manufacturing PMI: Monday, 9:00. The manufacturing sectors of the Euro-zone countries are doing well the index stood on 56.8 points according to the first release. This will probably be confirmed now.
3. German Unemployment Change: Tuesday, 8:55. The number of unemployed people dropped in the last 10 months, and another month of drops is expected now, helping the Euro. After losing 9K last month, a bigger drop in unemployment is expected now.
4. CPI Flash Estimate: Tuesday, 10:00. Inflation is definitely picking up in the Euro-zone. Consumer prices reached an annual rate of 1.9% last month, just below the 2% target. Its now expected to tick up to 2%, given the big rise Germanys CPI.
5. Final Services PMI: Wednesday, 9:00. Growth in the services sector is lagging behind the manufacturing sector, but is also OK the PMI stood on 53.7 points according to the preliminary release. This will probably be confirmed now.
6. Industrial New Orders: Wednesday, 10:00. The volume of new purchase orders posted a very disappointing drop of 4.2% last month, and weakened the Euro. This came after a nice rise beforehand. This time, manufacturers are expected to show a rise in order volume.
7. PPI: Wednesday, 10:00. Producer prices are also on the rise, but play second fiddle to consumer prices, and usually meet expectations. A rise of 0.4% was recorded last month, and the same number is expected now as well.
8. Retail Sales: Thursday, 10:00. Despite the earlier release from Germany and France, this figure tends to surprise and rock the Euro. A small rise was seen last month 0.1%, after two months of drops. Another small rise is due now, but at a slightly higher pace. Any result will shake the Euro.
9. German Factory Orders: Thursday, 9:00. The first industrial figure for Germany is expected to continue the steady climb from the previous month, that saw a 1.6% rise. A similar, perhaps somewhat smaller rise is expected this time.
10. German Trade Balance: Friday, 7:00. Europes powerhouse enjoyed a very high surplus of 14.3 billion euros. An even higher surplus is expected now. Germany balances other Euro-zone countries.
11. Unemployment Rate: Friday, 10:00. The all-European unemployment rate reflects the big troubles that Europe has. It was around 10% during most of the year, and remains even above it in recent months, 10.1%. No change is expected here. Spains unemployment rate is around 20%, Greece and Ireland also have more than 12%. Any result will rock the Euro.
12. Final GDP: Friday, 10:00. The first release has shown a modest growth rate of 0.4% in Q3, and this will probably be confirmed. The impact will be low due to the unemployment rate figure and the late release of this indicator.
13. German Industrial Production: Friday, 11:00. Just before the US Non-Farm Payrolls, Germanys second industrial indicator might help the Euro improve positions a rise of 2.9% was recorded last month, and a similar and strong rise is predicted now.
1. German Retail Sales: Publication time unknown at the moment. Europes largest economy enjoyed a jump in the volume of sales last month 2.3%, but this was a correction to a similar fall beforehand. A more modest rise is expected now.
2. Final Manufacturing PMI: Monday, 9:00. The manufacturing sectors of the Euro-zone countries are doing well the index stood on 56.8 points according to the first release. This will probably be confirmed now.
3. German Unemployment Change: Tuesday, 8:55. The number of unemployed people dropped in the last 10 months, and another month of drops is expected now, helping the Euro. After losing 9K last month, a bigger drop in unemployment is expected now.
4. CPI Flash Estimate: Tuesday, 10:00. Inflation is definitely picking up in the Euro-zone. Consumer prices reached an annual rate of 1.9% last month, just below the 2% target. Its now expected to tick up to 2%, given the big rise Germanys CPI.
5. Final Services PMI: Wednesday, 9:00. Growth in the services sector is lagging behind the manufacturing sector, but is also OK the PMI stood on 53.7 points according to the preliminary release. This will probably be confirmed now.
6. Industrial New Orders: Wednesday, 10:00. The volume of new purchase orders posted a very disappointing drop of 4.2% last month, and weakened the Euro. This came after a nice rise beforehand. This time, manufacturers are expected to show a rise in order volume.
7. PPI: Wednesday, 10:00. Producer prices are also on the rise, but play second fiddle to consumer prices, and usually meet expectations. A rise of 0.4% was recorded last month, and the same number is expected now as well.
8. Retail Sales: Thursday, 10:00. Despite the earlier release from Germany and France, this figure tends to surprise and rock the Euro. A small rise was seen last month 0.1%, after two months of drops. Another small rise is due now, but at a slightly higher pace. Any result will shake the Euro.
9. German Factory Orders: Thursday, 9:00. The first industrial figure for Germany is expected to continue the steady climb from the previous month, that saw a 1.6% rise. A similar, perhaps somewhat smaller rise is expected this time.
10. German Trade Balance: Friday, 7:00. Europes powerhouse enjoyed a very high surplus of 14.3 billion euros. An even higher surplus is expected now. Germany balances other Euro-zone countries.
11. Unemployment Rate: Friday, 10:00. The all-European unemployment rate reflects the big troubles that Europe has. It was around 10% during most of the year, and remains even above it in recent months, 10.1%. No change is expected here. Spains unemployment rate is around 20%, Greece and Ireland also have more than 12%. Any result will rock the Euro.
12. Final GDP: Friday, 10:00. The first release has shown a modest growth rate of 0.4% in Q3, and this will probably be confirmed. The impact will be low due to the unemployment rate figure and the late release of this indicator.
13. German Industrial Production: Friday, 11:00. Just before the US Non-Farm Payrolls, Germanys second industrial indicator might help the Euro improve positions a rise of 2.9% was recorded last month, and a similar and strong rise is predicted now.
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