2013-09-11

Daily analysis major Currencies 2013.09.11

USDCHF:
NFP has changed the market direction for a while.
The pair loses across the board yesterday on 
the heels of stronger equity markets around the globe as
tension around Syria cooled down somewhat.
Recommend:
pivot: 0.9380                                              
Entry: Short position below 0.9380
Targets: 0.9335, 0.9300 then 0.9265 in extension
Stop: above 0.9410
Alternative scenario: a break above 0.9410 
will call for 0.9450 where Re-entry short


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EURUSD:
The euro consolidates yesterdays profits against the dollar and consolidates in a tight range at the highs. The trend remains up in

Recommend:
pivot: 1.3202                                              
Entry: Long position above 1.3202                             
Targets: 1.3235,13275 then 1.3317 in extension
Stop: below 1.3155
Alternative scenario: a break below 1.3155 
may put 1.3102 where Re-entry Long 




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USDJPY:
The yen is the loser of  yesterday, 
USD/JPY establishes itself comfortably above
 the 100 yen level after a strong rally last morning session.

Recommend:
pivot: 99.75                                          
Entry: Long position above 99.75                           
Targets: 100.20,100.60 then 101.00 in extension
Stop: below 99.45
Alternative scenario: a break below 99.45 
may put 99.00 where Re-entry Long 
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GBPUSD:
GBP/USD remains strong and consolidates near
the August highs (1.5716).
A dip below the 1.5700 after lunch was quickly bought
and the pair quickly gained another
 30 pips towards 1.5720.

Recommend:
pivot: 1.5670                                             
Entry: Long position above 1.15670                           
Targets: 1.5700,1.5750 then 1.5790 in extension
Stop: below 1.5625
Alternative scenario: a break below 1.5625 
may put 1.5585 where Re-entry Long 


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Today's Calendar GMT+00
TimeCur.Imp.EventActualForecastPrevious
Wednesday, September 11
00:30  AUDWestpac Consumer Sentiment4.70%3.50%
05:30  EURFrench Non-Farm Payrolls (QoQ)-0.2%-0.2%
06:00  EURGerman CPI (MoM)0.0%0.0%
06:00  EURGerman CPI (YoY)1.5%1.5%
06:45  EURFrench Current Account-1.40B
08:30  GBPAverage Earnings ex Bonus1.0%1.1%
08:30  GBPAverage Earnings Index +Bonus1.2%2.1%
08:30  GBPClaimant Count Change-22.0K-29.2K
08:30  GBPUnemployment Rate7.8%7.8%
09:00  GBPCB Leading Index (MoM)-0.2%
09:35  EURGerman 10-Year Bund Auction1.800%
11:00  USDMBA Mortgage Applications (WoW)1.3%
14:00  USDWholesale Inventories (MoM)0.3%-0.2%
14:30  USDCrude Oil Inventories-1.500M-1.836M
14:30  USDEIA Weekly Distillates Stocks0.488M0.549M
14:30  USDGasoline Inventories-1.250M-1.827M
17:00  USD10-Year Note Auction2.620%
23:50  JPYCore Machinery Orders (MoM)2.4%-2.7%
23:50  JPYCore Machinery Orders (YoY)7.6%4.9%
23:50  JPYForeign Bonds Buying-530.9B

Currency Strategist / Yehia Noo®

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