EUR\/USD Technical 14/05/2011

GBP/USD Technical Analysis

The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6090 and 1.5715.

Due to today's bank holiday in UK, no major swings are to be expected and the pair is likely to maintain its current range 1.6690-6624. Major support on the downside is 1.6580.

GBP/USD Technical Analysis

The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6090 and 1.5715.

Yesterday's rise filled my target at 1.6750 and currently a consolidation pattern is underway, aiming at 1.6640 support. The bias on the larger frames is still bullish, so current slide is to be considered corrective before next advance towards 1.6860.

EUR/USD Technical Analysis

EUR\/USD is in a an uptrend, after bottoming at 1.2870 (January 9, 2011). Technical indicators are ascending and trading is situated above the 50- and 200-Day SMA, currently projected at 1.3917 and 1.3440.

Yesterday's rise filled my target at 1.4860 and with current high at 1.4882 the pair has entered a larger consolidation pattern, aiming to correct 1.4631-4882 uptrend. The intraday bias is negative for 1.4797, en route to 1.4760 before final rise for 1.4960.

Majors Daily Forecast 14 April 2011

EUR/USD
Trading range: 1.4430 - 1.4530
Trend: Upward
Buy at 1.4443 SL 1.4411 TP 1.4520

USD/JPY
Trading range: 83.80 - 82.85
Trend: Downward
Sell at 83.66 SL 83.98 TP 82.94

GBP/USD
Trading range: 1.6275 - 1.6385
Trend: Upward
Buy at 1.6286 SL 1.6254 TP 1.6374

USD/CHF
Trading range: 0.8970 - 0.8865
Trend: Downward
Sell at 0.8959 SL 0.8991 TP 0.8875

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

12:30 USA Jobless claims week to 09.04 387K 382K
12:30 USA PPI March 0.9% 1.6%
12:30 USA PPI March Y/Y - 5.6%
12:30 USA PPI excluding food and energy March 0.2% 0.2%
12:30 USA PPI excluding food and energy March Y/Y - 1.8%
20:30 USA M2 money supply 04.04, bln - -1.1

Majors Daily Forecast 5 April 2011

EUR\/USD
Trading range: 1.4220 - 1.4115
Trend: Downward
Sell at 1.4206 SL 1.4238 TP 1.4129

USD/JPY
Trading range: 84.55 - 83.60
Trend: Downward
Sell at 84.41 SL 84.73 TP 83.69

GBP/USD
Trading range: 1.6080 - 1.6195
Trend: Upward
Buy at 1.6093 SL 1.6061 TP 1.6181

USD/CHF
Trading range: 0.9255 - 0.9150
Trend: Downward
Sell at 0.9244 SL 0.9276 TP 0.9160

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

03:30 Australia RBA meeting announcement 4.75% 4.75%
07:45 Italy PMI services March - 53.1
07:50 France PMI services March 60.7 59.7
07:55 Germany PMI services March seasonally adjusted 60.1 58.6
08:00 EU17 PMI services March 56.9 56.8
08:30 UK CIPS services index March - 56.2
09:00 EU17 Retail sales February adjusted - 0.4%
09:00 EU17 Retail sales February adjusted Y/Y - 0.7%
12:55 USA Redbook 02.04
14:00 USA ISM Non-mfg composite index March 59.7 59.7
14:00 USA ISM Non-mfg business index March - 66.9
18:00 USA FOMC meeting minutes 15.03

Majors Daily Forecast 31 March 2011

EUR\/USD
Trading range: 1.4115 - 1.4215
Trend: Upward
Buy at 1.4128 SL 1.4096 TP 1.4205

USD\/JPY
Trading range: 82.95 - 82.05
Trend: Downward
Sell at 82.83 SL 83.15 TP 82.11

GBP\/USD
Trading range: 1.6070 - 1.6185
Trend: Upward
Buy at 1.6084 SL 1.6052 TP 1.6172

USD\/CHF
Trading range: 0.9200 - 0.9095
Trend: Downward
Sell at 0.9186 SL 0.9218 TP 0.9102


Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

05:00 Japan Housing starts February Y/Y - 2.7%
05:00 Japan Construction orders February Y/Y - 3.1%
05:30 France GDP Q4 revised 0.3% 0.3%
05:30 France GDP Q4 revised Y/Y 1.5% 1.5%
06:00 UK Nationwide house price index March - 0.3%
06:00 UK Nationwide house price index March Y/Y - -0.1%
06:45 France PPI February - 0.9%
06:45 France PPI February Y/Y - 5.6%
07:55 Germany Unemployment March seasonally adjusted - -52K
07:55 Germany Unemployment March seasonally adjusted, mln - 3.069
07:55 Germany Unemployment rate March seasonally adjusted - 7.3%
07:55 Germany Unemployment March seasonally unadjusted, mln - 3.317
07:55 Germany Unemployment rate March seasonally unadjusted - 7.9%
08:00 Italy PPI February - 1.1%
08:00 Italy PPI February Y/Y - 5.1%
09:00 Italy CPI March preliminary - 0.3%
09:00 Italy CPI March preliminary Y/Y - 2.4%
09:00 Italy HICP March preliminary Y/Y - 2.1%
09:00 EU17 Harmonized CPI March Y/Y preliminary - 2.4%
12:30 USA Jobless claims week to 26.03 375K 382K
13:45 USA Chicago PMI March 68.5 71.2
14:00 USA Factory orders February 0.4% 3.1%
20:30 USA M2 money supply 21.03, bln - -25.2
23:50 Japan BoJ Tankan survey Q1 - 5

Majors Daily Forecast 29 March 2011

EUR\/USD
Trading range: 1.4070 - 1.4170
Trend: Upward
Buy at 1.4083 SL 1.4051 TP 1.4160

USD\/JPY
Trading range: 81.85 - 80.95
Trend: Downward
Sell at 81.74 SL 82.06 TP 81.02

GBP\/USD
Trading range: 1.5990 - 1.6100
Trend: Upward
Buy at 1.6002 SL 1.5970 TP 1.6090

USD\/CHF
Trading range: 0.9185 - 0.9080
Trend: Downward
Sell at 0.9171 SL 0.9203 TP 0.9087


Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

06:45 France Consumer spending February - -0.5%
06:45 France Consumer spending February Y/Y - 2.4%
08:30 UK M4 money supply February final - 0.8%
08:30 UK M4 money supply February final Y/Y - -1.7%
08:30 UK Consumer credit February, bln -0.2 -0.3
08:30 UK GDP Q4 final -0.6% -0.6%
08:30 UK GDP Q4 final Y/Y 1.5% 1.5%
08:30 UK Current account Q4, bln - -9.6
09:00 Italy Business confidence March - 103.0
12:00 Germany CPI February preliminary 0.5% 0.5%
12:00 Germany CPI March preliminary Y/Y 2.2% 2.1%
12:00 Germany HICP March preliminary Y/Y 2.1% 2.2%
12:55 USA Redbook 26.03
14:00 USA Consumer confidence March 67.0 70.4
23:50 Japan Industrial output February preliminary -0.2% 1.3%
23:50 Japan Industrial output February preliminary Y/Y 3.8% 3.5%

Majors Daily Forecast 24 March 2011

EUR\/USD
Trading range: 1.4100 - 1.4000
Trend: Downward
Sell at 1.4090 SL 1.4122 TP 1.4013


USD\/JPY
Trading range: 81.15 - 80.25
Trend: Downward
Sell at 81.04 SL 81.36 TP 80.32


GBP\/USD
Trading range: 1.6255 - 1.6140
Trend: Downward
Sell at 1.6242 SL 1.6274 TP 1.6154


USD\/CHF
Trading range: 0.9080 - 0.9185
Trend: Upward
Buy at 0.9091 SL 0.9059 TP 0.9175


Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

07:45 France Business confidence March 106 106
07:58 France PMI March flash 59.5 55.7
07:58 France PMI services March flash 56.2 59.7
08:28 Germany PMI March flash 62.0 62.7
08:28 Germany PMI services March flash 58.4 58.6
08:58 EU17 PMI March flash 58.2 59.0
08:58 EU17 PMI services March flash 56.3 56.8
09:00 Italy Consumer confidence March - 106.4
09:30 UK Retail sales February -0.5% 1.9%
09:30 UK Retail sales February Y/Y 2.4% 5.3%
12:30 USA Jobless claims week to 19.03 373K 385K
12:30 USA Durable goods orders February 1.0% 3.2%
12:30 USA Durable goods orders excluding transportation February 2.0% -3.6%
12:30 USA Durable goods orders excluding defence February 0.8% 1.9%
20:30 USA M2 money supply 14.03, bln - +9.7
23:30 Japan Nationwide CPI February - -0.2%
23:30 Japan Nationwide CPI February Y/Y - 0.0%
23:30 Japan Nationwide CPI ex fresh food February Y/Y -0.3% -0.2%
23:30 Japan Tokyo-area CPI March - -0.1%
23:30 Japan Tokyo-area CPI March Y/Y - -0.1%
23:30 Japan Tokyo-area CPI ex fresh food March Y/Y -0.3% -0.4%

Majors Daily Forecast 22 March 2011

EUR\/USD
Trading range: 1.4200 - 1.4305
Trend: Upward
Buy at 1.4214 SL 1.4182 TP 1.4291

USD\/JPY
Trading range: 81.10 - 80.15
Trend: Downward
Sell at 80.97 SL 81.29 TP 80.25

GBP\/USD
Trading range: 1.6280 - 1.6395
Trend: Upward
Buy at 1.6294 SL 1.6262 TP 1.6382

USD\/CHF
Trading range: 0.9055 - 0.8950
Trend: Downward
Sell at 0.9044 SL 0.9076 TP 0.8960

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

04:30 Japan All industry index January 2.8% -0.2%
09:30 UK HICP February 0.6% 0.1%
09:30 UK HICP February Y/Y 4.2% 4.0%
09:30 UK HICP ex EFAT February Y/Y - 3.0%
09:30 UK Retail prices February - 0.3%
09:30 UK Retail prices February Y/Y - 5.1%
09:30 UK RPI-X February Y/Y - 5.1%
09:30 UK PSNCR February, bln - -14.4
09:30 UK PSNB February, bln - -5.3
11:00 UK CBI industrial order books balance March -6% -8%
11:00 UK CBI industrial output balance March - 23%
12:30 Canada Retail sales January 1.1% -0.2%
12:30 Canada Retail sales excluding auto January - 0.6%
12:55 USA Redbook 19.03

Majors Daily Forecast 21 March 2011

EUR\/USD
Trading range: 1.4150 - 1.4250
Trend: Upward
Buy at 1.4160 SL 1.4128 TP 1.4237

USD\/JPY
Trading range: 81.10 - 80.20
Trend: Downward
Sell at 80.98 SL 81.30 TP 80.26

GBP\/USD
Trading range: 1.6195 - 1.6310
Trend: Upward
Buy at 1.6208 SL 1.6176 TP 1.6296


USD\/CHF
Trading range: 0.9065 - 0.8960
Trend: Downward
Sell at 0.9054 SL 0.9086 TP 0.8970

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

Japan Spring Equinox Day
14:00 USA Existing home sales February, mln 5.12 5.36

Majors Daily Forecast 18 March 2011

EUR\/USD
Trading range: 1.4045 - 1.4145
Trend: Upward
Buy at 1.4057 SL 1.4025 TP 1.4134

USD\/JPY
Trading range: 82.05 - 81.10
Trend: Downward
Sell at 81.92 SL 82.24 TP 81.20

GBP\/USD
Trading range: 1.6130 - 1.6240
Trend: Upward
Buy at 1.6140 SL 1.6108 TP 1.6228


USD\/CHF
Trading range: 0.9085 - 0.8980
Trend: Downward
Sell at 0.9074 SL 0.9106 TP 0.8990

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

05:00 Japan Leading indicators composite index January final 101.9 101.9
05:00 Japan Coincident indicators composite index January final 106.2 106.2
07:00 Germany PPI February - 1.2%
07:00 Germany PPI February Y/Y - 5.7%
09:00 EU16 Current account January unadjusted, bln - -0.1
09:00 EU16 Current account January adjusted, bln - -13.3
10:00 EU16 Trade balance January adjusted, bln - -2.3
10:00 EU16 Trade balance January unadjusted, bln - -0.5
12:00 Canada CPI February - 0.3%
12:00 Canada CPI February Y/Y - 2.3%
12:00 Canada CPI core February - 0.0%
12:00 Canada CPI core February Y/Y - 1.4%

Majors Daily Forecast 17 March 2011

EUR\/USD
Trading range: 1.3950 - 1.3845
Trend: Downward
Sell at 1.3936 SL 1.3968 TP 1.3859

USD\/JPY
Trading range: 79.55 - 78.65
Trend: Downward
Sell at 79.43 SL 79.75 TP 78.71

GBP\/USD
Trading range: 1.6055 - 1.5945
Trend: Downward
Sell at 1.6045 SL 1.6077 TP 1.5957

USD\/CHF
Trading range: 0.9050 - 0.8945
Trend: Downward
Sell at 0.9039 SL 0.9071 TP 0.8955

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

08:30 Swiss SNB press-conference - 0.00-0.75%
11:00 UK CBI industrial order books balance March - -8%
11:00 UK CBI industrial output balance March - 23%
13:30 USA Jobless claims week to 12.03 385K 397K
13:30 USA CPI February 0.4% 0.4%
13:30 USA CPI February Y/Y - 1.6%
13:30 USA CPI excluding food and energy February 0.1% 0.2%
13:30 USA CPI excluding food and energy February Y/Y - 1.0%
14:15 USA Industrial production February 0.6% -0.1%
14:15 USA Capacity utilisation February 76.5 76.1
15:00 USA Leading indicators February 0.9% 0.1%
15:00 USA Philadelphia Fed index March 27.0 35.9
21:30 USA M2 money supply 07.03, bln - +15.9
23:50 Japan BoJ meeting minutes 16-17.02

Majors Daily Forecast 16 March 2011

EUR\/USD
Trading range: 1.3950 - 1.4050
Trend: Upward
Buy at 1.3963 SL 1.3931 TP 1.4040

USD\/JPY
Trading range: 81.10 - 80.15
Trend: Downward
Sell at 80.97 SL 81.29 TP 80.25

GBP\/USD
Trading range: 1.6040 - 1.6150
Trend: Upward
Buy at 1.6052 SL 1.6020 TP 1.6140

USD\/CHF
Trading range: 0.9195 - 0.9090
Trend: Downward
Sell at 0.9182 SL 0.9214 TP 0.9098

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

05:00 Japan BoJ monthly economic report March
09:00 Italy CPI February final 0.3% 0.3%
09:00 Italy CPI February final Y/Y 2.4% 2.4%
09:00 Italy HICP February final Y/Y 2.1% 2.1%
09:00 Italy Consumer confidence March - 106.4
09:30 UK Claimant count February - 2400
09:30 UK Claimant count rate February - 4.5%
09:30 UK Average earnings 3 months to January Y/Y - 1.8%
09:30 UK Average earnings ex bonuses 3 months to January Y/Y - 2.3%
09:30 UK ILO Jobless rate January - 7.9%
10:00 EU17 Harmonized CPI February final - -0.7%
10:00 EU17 Harmonized CPI February final Y/Y 2.4% 2.3%
10:00 EU17 Harmonized CPI ex EFAT February Y/Y - 1.1%
13:30 USA Housing starts February, mln 0.565 0.596
13:30 USA Building permits February, mln 0.570 0.563 0.562
13:30 USA PPI February 0.6% 0.8%
13:30 USA PPI February Y/Y - 3.6%
13:30 USA PPI excluding food and energy February 0.2% 0.5%
13:30 USA PPI excluding food and energy February Y/Y - 1.6%
13:30 USA Current account Q4, bln -110.0 -127.2
23:50 Japan Tertiary activity index January -0.6% -0.8%

Majors Daily Forecast 15 March 2011

EUR\/USD
Trading range: 1.3880 - 1.3980
Trend: Upward
Buy at 1.3893 SL 1.3861 TP 1.3970

USD\/JPY
Trading range: 82.00 - 81.05
Trend: Downward
Sell at 81.86 SL 82.18 TP 81.14

GBP\/USD
Trading range: 1.6035 - 1.6150
Trend: Upward
Buy at 1.6049 SL 1.6017 TP 1.6137

USD\/CHF
Trading range: 0.9260 - 0.9155
Trend: Downward
Sell at 0.9249 SL 0.9281 TP 0.9165

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

00:01 UK Nationwide consumer confidence February - 47
06:30 France CPI February unadjusted - -0.2%
06:30 France CPI February unadjusted Y/Y - 1.8%
06:30 France HICP February Y/Y - 1.9%
10:00 Germany ZEW economic expectations index March - 15.7
13:30 USA NY Fed Empire State manufacturing index March 16.9 15.4
13:30 USA Import prices February 0.9% 1.5%
13:30 USA Export prices February - 1.2%
13:55 USA Redbook 12.03
14:00 USA TICS net flows January, bln - 48.2
14:00 USA TICS net long-term flows January, bln - 65.9
19:15 USA FOMC meeting announcement 0.00-0.25% 0.00-0.25%

Majors Daily Forecast 14 March 2011

EUR\/USD
Trading range: 1.3965 - 1.3865
Trend: Downward
Sell at 1.3952 SL 1.3984 TP 1.3875


USD\/JPY
Trading range: 82.35 - 81.40
Trend: Downward
Sell at 82.22 SL 82.54 TP 81.50


GBP\/USD
Trading range: 1.6090 - 1.5975
Trend: Downward
Sell at 1.6077 SL 1.6109 TP 1.5989


USD\/CHF
Trading range: 0.9260 - 0.9365
Trend: Upward
Buy at 0.9271 SL 0.9239 TP 0.9355


Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

04:30 Japan Industrial output January final 2.4% 2.4%
04:30 Japan Industrial output January final Y/Y 4.7% 4.7%
10:00 EU16 Industrial production January - -0.1%
10:00 EU16 Industrial production January Y/Y - 8.0%
Japan BoJ meeting announcement - 0.00-0.10%

EUR/USD Intra-day Signal

Forex signal: Buy on dips n exit on such bounce as 1.3986 shud cap upside. Only below 1.3870 may risk 1.3850/55.

INTRA-DAY EUR\/USD OUTLOOK

Last Update At 14 Mar 2011 06:10 GMT

Rate : 1.3933

Although euro's early retreat fm 1.3986 (NZ/AUS)
suggests Fri's rally fm 1.3752 has made a temp. top
n sideways trading is seen at European opening, nr
term outlook remains mildly bullish for another
rebound but abv 1.3986 needed to extend to 1.4000.

Buy on dips n exit on such bounce as 1.3986 shud
cap upside. Only below 1.3870 may risk 1.3850/55.

Range Forecast
1.3910 / 1.3945

Resistance/Support
R: 1.3954/1.3986/1.4000
S: 1.3916/1.3870/1.3855

Majors Daily Forecast 10 March 2011

EUR\/USD
Trading range: 1.3890 - 1.3790
Trend: Downward
Sell at 1.3878 SL 1.3910 TP 1.3801

USD\/JPY
Trading range: 82.65 - 83.65
Trend: Upward
Buy at 82.79 SL 82.47 TP 83.51

GBP\/USD
Trading range: 1.6195 - 1.6085
Trend: Downward
Sell at 1.6185 SL 1.6217 TP 1.6097

USD\/CHF
Trading range: 0.9290 - 0.9400
Trend: Upward
Buy at 0.9302 SL 0.9270 TP 0.9386

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

07:00 Germany Current account January unadjusted, bln - 17.6
07:00 Germany Trade balance January unadjusted, bln 12.2 11.9
07:45 France Industrial production January 0.3% 0.3%
07:45 France Industrial production January Y/Y 4.5% 5.8%
09:00 Italy Industrial production January adjusted - 0.3%
09:00 Italy Industrial production January Y/Y adjusted - 1.3%
09:30 UK Industrial production January 0.4% 0.5%
09:30 UK Industrial production January Y/Y 4.2% 3.6%
09:30 UK Manufacturing output January 0.7% -0.1%
09:30 UK Manufacturing output January Y/Y 6.3% 4.4%
12:00 UK BoE meeting announcement 0.50% 0.50%
13:30 USA Jobless claims week to 05.03 383K 368K
13:30 USA International trade January, bln -41.2 -40.6
13:30 USA Export January, bln - 163.0
13:30 USA Import January, bln - 203.6
19:00 USA Federal budget February, bln - -49.8
21:30 USA M2 money supply 28.02, bln - +10.6

Majors Daily Forecast 9 March 2011

EUR\/USD
Trading range: 1.3920 - 1.3820
Trend: Downward
Sell at 1.3907 SL 1.3939 TP 1.3830


USD\/JPY
Trading range: 82.65 - 83.60
Trend: Upward
Buy at 82.75 SL 82.43 TP 83.47


GBP\/USD
Trading range: 1.6205 - 1.6095
Trend: Downward
Sell at 1.6193 SL 1.6225 TP 1.6105


USD\/CHF
Trading range: 0.9335 - 0.9440
Trend: Upward
Buy at 0.9345 SL 0.9313 TP 0.9429


Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior


09:30 UK Trade in goods January, bln -8.6 -9.2
09:30 UK Non-EU trade January, bln -5.1 -5.8
11:00 Germany Industrial production January seasonally adjusted 1.7% -1.5%
11:00 Germany Industrial production January not seasonally adj, workday adj Y/Y 11.6% 10.0%
15:00 USA Wholesale inventories January 1.0% 1.0%
20:00 New Zealand RBNZ meeting announcement 3.00% 3.00%
23:50 Japan Real GDP Q4 revised -0.3% -0.3%
23:50 Japan Real GDP Q4 revised Y/Y -1.2% -1.1%
23:50 Japan Corporate goods price index February domestic - 0.5%
23:50 Japan Corporate goods price index February domestic Y/Y 1.9% 1.6%

Majors Daily Forecast 8 March 2011

EUR\/USD
Trading range: 1.4000 - 1.3900
Trend: Downward
Sell at 1.3988 SL 1.4020 TP 1.3911

USD\/JPY
Trading range: 82.10 - 83.05
Trend: Upward
Buy at 82.21 SL 81.89 TP 82.93

GBP\/USD
Trading range: 1.6220 - 1.6110
Trend: Downward
Sell at 1.6208 SL 1.6240 TP 1.6120

USD\/CHF
Trading range: 0.9255 - 0.9360
Trend: Upward
Buy at 0.9265 SL 0.9233 TP 0.9349

Today's Economic Calendar:
Time GMT, Country, Indicator, Forecast, Prior

11:00 Germany Manufacturing orders January seasonally adjusted 2.3% -3.4%
11:00 Germany Manufacturing orders January not seasonally adj, workday adj Y/Y 15.6% 19.7%
13:55 USA Redbook 05.03
23:50 Japan Machinery orders core January adjusted 3.0% 1.7%
23:50 Japan Machinery orders core January unadjusted Y/Y 5.1% -1.6%