http://cdn.forexfactory.com/images/attach/pdf.gif 2011-01-10_00h38_ASIA DAILY FOREX OUTLOOK - Majors +.pdf (11.4 KB)
ASIA DAILY FOREX OUTLOOK - Majors
10 Jan 2011, 00:38
SINGAPORE (Dow Jones)--Following are expected trading ranges and outlooks for nine major currency pairs today:
EUR/USD - to consolidate with risks skewed lower. Pair undermined by negative global risk sentiment; speculation that rising Portuguese government bond yields and borrowing costs could force country to seek EU/IMF loan bailout; last week's European Commission report proposing bondholders should share burden in paying for future bailouts; reduced eurozone 3Q GDP growth of +0.3% (vs +0.4% estimate); larger-than-expected 0.7% on-month drop in German November industrial production (vs forecast for 0.2% decline). But EUR sentiment soothed by ECB's purchase of Portuguese bonds Friday to prevent steeper sell-off. Data focus: 0700 GMT German November manufacturing turnover. EUR/USD daily chart negative-biased as MACD & stochastics bearish, although latter at oversold, suggesting sideways or lower EUR/USD trading near-term. Support at 1.2860 (hourly chart); breach would expose downside to 1.2642 (Sept. 10 reaction low), then 1.2584 (Aug. 24 trough). Resistance at 1.2944 (hourly chart); then at 1.3020 (Friday's high); breach would temper near-term negative outlook, exposing upside to 1.3170 (Thursday's high), then 1.3325 (Wednesday's high), 1.3433 (Tuesday's high, near 55-day moving average) and 1.3500 (Dec. 14 reaction high).
;-)
ASIA DAILY FOREX OUTLOOK - Majors
10 Jan 2011, 00:38
SINGAPORE (Dow Jones)--Following are expected trading ranges and outlooks for nine major currency pairs today:
EUR/USD - to consolidate with risks skewed lower. Pair undermined by negative global risk sentiment; speculation that rising Portuguese government bond yields and borrowing costs could force country to seek EU/IMF loan bailout; last week's European Commission report proposing bondholders should share burden in paying for future bailouts; reduced eurozone 3Q GDP growth of +0.3% (vs +0.4% estimate); larger-than-expected 0.7% on-month drop in German November industrial production (vs forecast for 0.2% decline). But EUR sentiment soothed by ECB's purchase of Portuguese bonds Friday to prevent steeper sell-off. Data focus: 0700 GMT German November manufacturing turnover. EUR/USD daily chart negative-biased as MACD & stochastics bearish, although latter at oversold, suggesting sideways or lower EUR/USD trading near-term. Support at 1.2860 (hourly chart); breach would expose downside to 1.2642 (Sept. 10 reaction low), then 1.2584 (Aug. 24 trough). Resistance at 1.2944 (hourly chart); then at 1.3020 (Friday's high); breach would temper near-term negative outlook, exposing upside to 1.3170 (Thursday's high), then 1.3325 (Wednesday's high), 1.3433 (Tuesday's high, near 55-day moving average) and 1.3500 (Dec. 14 reaction high).
;-)
Attached File(s)
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
