ASIA DAILY FOREX OUTLOOK - Majors
SINGAPORE (Dow Jones)
Immediate Range Larger Range
EUR/USD 1.3130-1.3270 1.3100-1.3358
EUR/USD - to trade with bearish bias. EUR sentiment weak after EU leaders agreed on Treaty change to allow permanent rescue mechanism which would be set in 2013, but didn't address more immediate problems such as expanding European financial stability facility; Moody's downgraded Ireland's credit rating from Aa2 to Baa1, put it on negative outlook; IMF's warning Ireland would face "significant risks" in its ability to repay EUR85 billion bailout package Dublin agreed last month and Ireland's financial pressures could spread beyond its borders; ECB expressing fears that its rights over Irish collateral proffered during provision of liquidity to Ireland's banks may be usurped due to flaws in Irish bailout legislation; WSJ report EU countries need to raise USD2 trillion of debt in 2011, exacerbating worries about euro-zone financial turmoil next year. But EUR sentiment soothed by rise in German Ifo business climate index to fresh record high of 109.9 this month from 109.3 in November. Data focus: 0700 GMT German November PPI, 0900 GMT October euro area balance of payments, 1500 GMT EU December FCCI flash consumer confidence indicator. EUR/USD daily chart mixed as MACD bullish, but stochastics in bearish mode; bearish parabolic stop-and-reverse signal hit at 1.3171 Friday. Support at 1.3130 (Friday's low); breach would expose downside to 1.3100 (200-day moving average), then 1.3056 (Dec. 2 low), 1.2964 (Nov. 30 reaction low) and 1.2642 (Sept. 10 reaction low). Resistance at 1.3270 (hourly chart); breach would expose upside to 1.3358 (Friday's high), then 1.3382 (Wednesday's high), 1.3500 (Tuesday's high) and 1.3639 (55-day moving average).
Something from DJ ...
Step by step ... and as precise as possible ... no exaggerations please ... immer schön die Kirche im Dorf lassen ... immer schön auf dem Teppich bleiben ... keep on being realistic ...
;-)
SINGAPORE (Dow Jones)
Immediate Range Larger Range
EUR/USD 1.3130-1.3270 1.3100-1.3358
EUR/USD - to trade with bearish bias. EUR sentiment weak after EU leaders agreed on Treaty change to allow permanent rescue mechanism which would be set in 2013, but didn't address more immediate problems such as expanding European financial stability facility; Moody's downgraded Ireland's credit rating from Aa2 to Baa1, put it on negative outlook; IMF's warning Ireland would face "significant risks" in its ability to repay EUR85 billion bailout package Dublin agreed last month and Ireland's financial pressures could spread beyond its borders; ECB expressing fears that its rights over Irish collateral proffered during provision of liquidity to Ireland's banks may be usurped due to flaws in Irish bailout legislation; WSJ report EU countries need to raise USD2 trillion of debt in 2011, exacerbating worries about euro-zone financial turmoil next year. But EUR sentiment soothed by rise in German Ifo business climate index to fresh record high of 109.9 this month from 109.3 in November. Data focus: 0700 GMT German November PPI, 0900 GMT October euro area balance of payments, 1500 GMT EU December FCCI flash consumer confidence indicator. EUR/USD daily chart mixed as MACD bullish, but stochastics in bearish mode; bearish parabolic stop-and-reverse signal hit at 1.3171 Friday. Support at 1.3130 (Friday's low); breach would expose downside to 1.3100 (200-day moving average), then 1.3056 (Dec. 2 low), 1.2964 (Nov. 30 reaction low) and 1.2642 (Sept. 10 reaction low). Resistance at 1.3270 (hourly chart); breach would expose upside to 1.3358 (Friday's high), then 1.3382 (Wednesday's high), 1.3500 (Tuesday's high) and 1.3639 (55-day moving average).
Something from DJ ...
Step by step ... and as precise as possible ... no exaggerations please ... immer schön die Kirche im Dorf lassen ... immer schön auf dem Teppich bleiben ... keep on being realistic ...
;-)
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
