Sentiment Analysis
Wrap Up News:
http://www.forexlive.com/blog/2012/1...erman-economy/
-Bad EU condition (as expected)
http://www.forexlive.com/blog/2012/1...the-sidelines/
-No change on FOMC. Mean easing will continue as long as employment remains weak
-Reduced Growth expectancy from BoC
-there was a greek MOU escape that hold a bit EU downside rally yesterday
Orders:
fiber: 1.2900 barrier
aussie: 1.0200 barrier
Upcoming News:
UK Prelim GDP - much better - 15:30
UK FSA Wheatley's Testimony - 16:15
UK Tucker's Speech - 17:15
US Data News - better
19:30
-Core Durable Good Orders
-Unemployment Claims
-Durable Good Orders
21:00
-Pending Home Sales
Market Forecast:
EU don't have any significant news now, may chase barriers if all the market feel risk averse. Buyers out of Greek MOU leak will defend the price however.
UK Prelim GDP on 15:30 will earn a good starting movement. There's M3 money supply on 15:00. So, market watch on 15:00 may provide a good reward.
Another market watch is when USD news out on 19:30. Even though the last news is on 21:00, 3 indiors on 19:30 provide more info than the last one. So market movement might already begin on 19:30 and is a must-watch.
PA Analysis
Key S/R:
AUD/USD
-Still continuing yesterday's forecast. Currently not in consolidation
EUR/AUD
-Still continuing yesterday's forecast. Currently not in consolidation
EUR/GBP
-Upside: 0.8120, 0.8150
-Downside: 0.8040, 0.8020
High TF Trend:
AUD/USD: Up-Ranging
EUR/AUD: Down
EUR/GBP: Up
Last PA Sentiment:
AUD/USD:
-Sentiment: Up
-Larger Sentiment: Up
EUR/AUD:
-Sentiment: Down
-Larger Sentiment: Down
EUR/GBP
-Sentiment: Down
-Larger Sentiment: Neutral
Market Watch:
AUD/USD
Preferable motion: Up
Key level: -
EUR/AUD
Preferable motion: Down
Vital level: -
EUR/GBP
Preferable motion: Mixed
Key level: upward - 0.8095 w/ target @ 0.8120; Down - 0.8075 w/ target @ 0.8040
Conclusion
Initial market watch is on 15:00, that would be to observe EU and UK, pair is EUR/GBP with key level at 0.8095 upside down and 0.8075 downside. The most likely point is 0.8125 for upside and 0.8050 for downside.
Second market watch is on 19:30. Aussie and eur/aud is going to be updated shortly as the pairs come into consolidation. (at least before US News Data)