BTC USD 56,613.1 Gold USD 1,778.45
Time now: Jun 1, 12:00 AM

Forex Technical & Market Analysis FXCC May 15 2013

Forex Technical & Market Analysis FXCC May 15 2013

EU gives the go-ahead to Spanish bank restructuring plan

The European Commission announced on Wednesday its approval of the plans to restructure Spain's four nationalized banks: Bankia, Nova Caixa Galicia, Catalunya Caixa and Banco de Valencia. Vice President of the European Commission responsible for Competition Policy Joaqun Almunia said in the European morning that the injection of 37 billion euros of the bank rescue would require a 60% reduction in the size of the nationalized financial institutions by 2017.

Joaqun Almunia informed that during the negotiations with Spanish authorities and the banks in question it was established that the recapitalization funds would be distributed as follows: 18 billion euros for Bankia, 9 billion for Catalunya Caixa, 5.5 billion for Nova Caixa Galicia and 4.5 billion for Banco de Valencia. The four nationalized financial institutions should abandon conceding loans for high risk activities and should transfer 45 billion euros of toxic assets to the newly created bad bank. Catalunya Caixa and Nova Caixa Galicia are expected to be sold before 2017.
http://blog.fxcc.com/forex-technical-market-analysis-may-15-2013/

FOREX ECONOMIC CALENDAR :
2012-11-29 08:55 GMT | Germany. Unemployment Change (Nov)
2012-11-29 10:30 GMT | United Kingdom. BoE's Governor King Speech
2012-11-29 13:30 GMT | United States. Gross Domestic Product Annualized (Q3)
2012-11-29 15:00 GMT | United States. Pending Home Sales (MoM) (Oct)

FOREX NEWS :
2012-11-29 06:12 GMT | EUR/GBP flat below 0.8100, 50% Fibo
2012-11-29 05:36 GMT | GBP/USD trying to push higher, eyeing 1.6020
2012-11-29 05:25 GMT | NZD/USD higher on US 'fiscal cliff' optimism
2012-11-29 04:09 GMT | EUD/USD bullish while above 1.2885 Scotiabank

--------------------
Forex Technical Analysis EURUSD :

16.png


MARKET ANALYSIS Intraday Analysis

Upwards scenario: Next on tap, resistance level at 1.2962 (R1). A break higher could open the door for an attack to next target at 1.2980 (R2) and final immediate resistance is seen at 1.2996 (R3). Downwards scenario: Further retracement formation on the medium-term might occur below the support level at 1.2939 (S1), break here is required to put focus on actual targets at 1.2921 (S2) and 1.2903 (S3).

Resistance Levels: 1.2962, 1.2980, 1.2996

Support Levels: 1.2939, 1.2921, 1.2903

------------------
Forex Technical Analysis GBPUSD :

25.png


Upwards scenario: Upside risk aversion is seen above the resistance at 1.6021 (R1). Any violation of that level would be considered as signal of possible uptrend formation towards to our targets at 1.6031 (R2) and 1.6042 (R3).Downwards scenario: Though, our medium-term outlook is bearish. A break through support level at 1.6005 (S1) is possible en route towards to our intraday targets at 1.5994 (S2) and 1.5983 (S3).

Resistance Levels: 1.6021, 1.6031, 1.6042

Support Levels: 1.6005, 1.5994, 1.5983

-------------------
Forex Technical Analysis USDJPY :

34.png


Upwards scenario: The pair might face key resistive bastion at 82.22 (R1). A break above it might activate upside pressure and suggest the short-term targets at 82.30 (R2) and 82.39 (R3). Downwards scenario: On a slightly longer term focus has returned to the support at 82.00 (S1). If the market manages to overcome it, next hurdle lies at 81.91 (S2) and 81.82 (S3).

Resistance Levels: 82.22, 82.30, 82.39

Support Levels: 82.00, 81.91, 81.82


Source: FX Central Clearing Ltd,( http://www.fxcc.com )

Comments

There are no comments to display.

Blog entry information

Author
alayoua
Views
13
Last update

More entries in Others

More entries from alayoua

Top
Log in Register