Forex Trading Signals for 23rd April 2013

                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)


For more easy access,,,,,,Download our mobile application on your mobile :   Click Fxsignals 

EUR/USD

Down Trend : SELL

(1) SELL

E/P: 1.30464

T/P: 1.30100

S/L: 1.30750

(2) BUY

E/P: 1.30588

T/P: 1.30900

S/L: 1.30200

-->

GBP/USD

down Trend: SELL

(1) SELL

E/P: 1.52697

T/P: 1.52200

S/L: 1.53000

(2) BUY

E/P: 1.52665

T/P: 1.53000

S/L: 1.52300

Read More

European stocks push higher in light trade; Dax up 0.88%

European stocks pushed higher in light trade on Monday, as hopes for progress on the euro zone front and the Bank of Japan's agressive monetary policy continued to support market sentiment. 

During European afternoon trade, the EURO STOXX 50 jumped 0.94%, France’s CAC 40 climbed 0.63%, while Germany’s DAX 30 advanced 0.88%. 

Sentiment found some support after Italy re-elected President Giorgio Napolitano on Saturday, as the country attempts to break an ongoing political deadlock. 

In addition, Spanish Finance Minister Luis de Guindos said over the weekend that his country would be looking to balance growth, austerity and deficit reduction in its budget plans to be announced this week. 

Meanwhile, investors remained focused on the yen, which weakened across the board after the Group of 20 nations said Japan's recent policy actions are aimed at beating deflation and not at competitively weakening the yen. 

Financial stocks remained broadly higher, as shares in French lenders BNP Paribas and Societe Generale jumped 1.62% and 2.46%, while Germany's Deutsche Bank rallied 1.46%. 

Peripheral lenders added to gains, with Spanish banks BBVA and Banco Santander climbing 1.02% and 1.15%, while Italy's Intesa Sanpaolo and Unicredit surged 2.01% and 4.19% respectively. 

Elsewhere, food retailer Delhaize soared 11.21%, extending earlier gains, after first-quarter preliminary results showed earnings at about EUR214 million, up 13% from the same time last year. 

On the downside, Philips plummeted 2.70% after reporting first-quarter profit that missed analysts’ estimates. 

In London, FTSE 100 gained 0.66%, as U.K. lenders tracked their European counterparts higher. 

Shares in HSBC Holdings jumped 1.48% and Barclays rallied 2.79%, while Lloyds Banking and the Royal Bank of Scotland surged 3.22% and 3.62%. 

Mining stocks were mixed, as BHP Billiton and Rio Tinto added 0.03% and 0.39% respectively, while Evraz and Eurasian Natural Resources plunged 1.79% and 5.73%. 

Adding to losses, copper producers Xstrata and Kazakhmys retreated 0.50% and 7.30%. 

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.48% gain, S&P 500 futures signaled a 0.56% rise, while the Nasdaq 100 futures indicated a 0.73% increase. 

Later in the day, the euro zone was to release a report on consumer confidence, while the U.S. was to release private sector data on existing home sales.

-->

Read More

U.S. futures higher ahead of earnings, data; Dow Jones up 0.48%

U.S. stock futures pointed to a higher open on Monday, ahead of fresh earnings reports, as market sentiment improved amid hopes of progress in tackling Italy's financial crisis and as the Bank of Japan's easing policy continued to support. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.48% increase, S&P 500 futures signaled a 0.56% advance, while the Nasdaq 100 futures indicated a 0.72% gain. 

Sentiment found some support after Italy re-elected President Giorgio Napolitano on Saturday, an important development as the country attempts to break an ongoing political deadlock. 

Meanwhile, investors remained focused on the yen, which weakened across the board after the Group of 20 nations said Japan's recent policy actions are aimed at beating deflation and not at competitively weakening the yen.

Auto stocks were expected to be active, following reports General Motors is planning to add four new plants in the next three years in China to bring its production capacity to 5 million vehicles a year. 

Aircraft manufacturer Boeing is also likely to be in focus, as the company has started installing reinforced lithium ion batteries on five grounded 787 jets, in the hope that the first commercial Dreamliners will be ready to fly again in a week's time. 

In the tech sector, Dutch company Royal Philips Electronics reported first-quarter profit that missed analysts’ estimates on declining sales at its lighting and health-care businesses, sending shares down 3.67% in pre-market trade. 

Separately, Blackstone Group reportedly pulled out on Friday of bidding for Dell amid concerns about a worsening global PC slump. 

Other stocks in focus included Netflix, Caterpillar, Halliburton and Texas Instruments, all slated to report earnings later in the day. 

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 gained 0.77%, France’s CAC 40 climbed 0.56%, Germany's DAX advanced 0.76%, while Britain's FTSE 100 rose 0.74%. 

During the Asian trading session, Hong Kong's Hang Seng Index added 0.14%, while Japan’s Nikkei 225 Index rallied 1.89%. 

Later in the day, the U.S. was to release private sector data on existing home sales.

-->

Read More

Forex: EUR/USD retracing losses to 1.3050

The economic calendar is pretty empty today, and the release of Greece current account didn’t have any impact on the EUR/USD. The pair rose to 1.3075 resistance before falling to 1.3035 area on the European opening. Such area is acting as support as the session unfolds and now the EUR/USD is now getting back to Friday’s close at 1.3057.

Greece current account deficit widened from €-0.222B to €-0.716B in February. The preliminary release of EMU consumer confidence in April due at 14:30 GMT is expected to drop from -23.50 to -23.85. US existing home sales should ease its rising pace from 0.8% to 0.6% (MoM) with a move from 4.98M to 5.01M in March.

“We view the small rebound from 1.3000 as corrective and continue to view the recent failure ahead of the 1.3225/50% retracement as an interim peak”, wrote Commerzbank analyst Karen Jones, vieweing support at 1.3000/1.2995 guarding the 200 day ma at 1.2934 and the 1.2740 recent low.

EUR/USD Apr 22 at 09:31 GMT

1.3044/46 (-0.25%)

H1.3085 L 1.3032 

S3	S2	S1	R1	R2	R3
1.2983	1.3016	1.3048	1.3133	1.3166	1.3199

Trend Index[?]	OB/OS Index[?]
Data updated on Apr 22 a 09:15 (15-minute timeframe)
Strongly Bearish	Neutral

• 1D
• 1M
• 3M
• 1Y

-->

Read More

Forex: GBP/USD drives back to 1.5240 high on London opening

As the week started, the GBP/USD printed its daily low at 1.5205, and after an Asian session capped by resistance at 1.5240, the pair returned to its lower band of the range just ahead of the London opening. Once the bell ringed, the market got back to resistance. The UK credit rating was downgraded by Fitch agency from AAA to AA+/stable Friday night.

“As we’ve been through this before we don’t expect unusual price action in gilts today, although GBP is probably more vulnerable to some near-term weakness. The UK government leaked on Sunday that an augmentation to Funding for Lending will be announced over the next two weeks”, wrote TD Securities analyst Annette Beacher.

“We continue to view 1.5412/20, the recent high and the 38.2% retracement as an interim high. Loss of the 1.5178 uptrend is needed to add weight to the idea that the market has resumed its down move”, wrote Commerzbank analyst Karen Jones.

GBP/USD Apr 22 at 09:15 GMT

1.5237/39 (0.03%)

H1.5247 L 1.5204 

S3	S2	S1	R1	R2	R3
1.5080	1.5118	1.5156	1.5301	1.5339	1.5377

Trend Index[?]	OB/OS Index[?]
Data updated on Apr 22 a 08:45 (15-minute timeframe)
Slightly Bullish	Neutral

• 1D
• 1M
• 3M
• 1Y

-->

Read More

Dollar gains ground vs. yen, euro

The dollar re-approached the psychologically important 100 per yen level on Monday after the Group of 20 nations indicated that they approved of Japan’s aggressive monetary easing policies.

During European morning trade, the dollar was hovering close to four-year highs against the yen, with USD/JPY rising 0.23% to 99.75.

The yen resumed its weakening trend after the G-20 said Japan's recent policy actions are aimed at beating deflation and not at competitively weakening the yen.

Japan’s Finance Minister Taro Aso said the Bank of Japan’s unprecedented easing has resulted in a weaker yen, but only as a by-product of measures to end deflation and spur growth.

The dollar hit session highs against the euro, with EUR/USD sliding 0.11% to 1.3034.

The euro weakened after European Central Bank Vice-President Vitor Constancio said a rate cut is always a possibility and is dependent on economic data.

The euro had found support earlier after Italy re-elected President Giorgio Napolitano on Saturday, an important development as the country attempts to break an ongoing political deadlock.

The dollar was little changed against the pound and the Swiss franc, withGBP/USD inching up 0.06% to 1.5237 and USD/CHF edging up 0.05% to 0.9343.

The greenback was mixed against its Australian, New Zealand and Canadian counterparts, with AUD/USD down 0.21% to 1.0255, NZD/USDdipping 0.02% to 0.8414 and USD/CAD inching down 0.02% to 1.0264.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged up 0.08% to 82.95. 

The euro zone was to release a report on consumer confidence later Monday, while the U.S. was to release private sector data on existing home sales.

-->

Read More