DAILY FOREX NEWS BY UBP, 18 02 2013

EXCHANGE RATES

Currency Support II Support I Level Resistance I Resistance I
EURUSD 1.3260 1.3320 1.3350 1.3700 1.3850
GBPUSD 1.5200 1.5450 1.5490 1.5880 1.6000
EURGBP 0.8400 0.8500 0.8610 0.8750 0.8800
USDCHF 0.9000 0.9050 0.9240 0.9400 0.9500
USDJPY 88.00 90.00 93.90 94.50 95.00
USDCAD 0.9820 0.9900 1.0070 1.0240 1.0400
AUDUSD 1.0150 1.0200 1.0280 1.0600 1.0800
EURJPY 120.00 120.60 125.40 128.00 130.00
XAUUSD 1580 1600 1615 1630 1650
XAGUSD 28.00 29.50 30.05 34.50 35.00

EVENTS & MEETINGS

EU Foreign ministers hold meeting in Brussels. 08:30Gmt
ECB?s Draghi speaks in Brussels at Quarterly hearing on ECB.
14:30Gmt

VIEWS & TRADING IDEAS

EUR/USD

The pair is still trading above the 1.3280/1.3300 support area.
This area is should be seen as strong support area which should hold
on the coming days. Short term outlook is still positive for the
single currency and we would be buyers ahead of these levels with a
tight stop below 1.3250 for a target at 1.3550.

GBP/USD

Cable is still trading heavily as no rebound is seen. The 1.5500
level is about to break and losses could extend to the 1.5250/1.5300
area. We still believe any rebound on the cable has to be sold as
there is no doubt about the trend. Immediate resistance stands at
1.5650 and then the more important one is the 200 days moving average
at 1.5860.

USD/CHF

The greenback is heading higher but at a very slow pace. A test of
the 0.9320/40 should be on the cards. We remain buyers on weakness but
would adopt a neutral stance at current levels. Big range is still
0.9000-0.9450.

USD/JPY

No specific reference about the Yen was issued from G20 this
week-end. Fears that communique could mentioned yen level pushed
people to take some profits last Friday. Now that this event is over
we might see some more upside on the pair. Important level to watch at
is the 95.00, a break of this level would be seen as positive and we
might then see a new wave of yen selling. However, we don?t believe
this 94.50/95.00 resistance will be easily broken and favour some more
consolidation in the 92.00-94.50 area.

AUD/USD

Aussie is down again after testing the 1.0400 intermediate
resistance last week. We might have a pull back to the 1.0200 support
area. We remain buyers ahead of this support as we still area in the
1.02-1.06 range.

USD/CAD

The pair is again challenging recent highs at 1.0100. We still are
in the 0.9800-1.0100 range. However, a break of the 1.0100 could send
the pair to the 1.0250 resistance. Playing the range is still
appropriate for now with risk standing on the upside.

Commodities

After an important selloff Friday where Gold tested the support at
1600$, we rebounded nearly 20 dollars on good Chinese buying. The next
resistance will be at 1625$ where good selling mainly from Cta and
Hedge fund keep the pressure in the market. Good option selling from
Hedge Fund on friday was also noted , but despite this, the volatility
hasnt erode. Today Americans are out for president's day and we dont
expect anything really to happend. On a positive note, the Pgm's
continue to be well supported by speculative demand.

******

Burada yer alan yatırım bilgi, yorum ve tavsiyeler yatırım
danışmanlığı kapsamında değildir. Yatırım danışmanlığı hizmeti,
aracı kurumlar, portföy yönetim şirketleri, mevduat kabul etmeyen
bankalar ile müşteri arasında imzalanacak yatırım danışmanlığı
sözleşmesi çerçevesinde sunulmaktadır. Burada yer alan yorum ve
tavsiyeler, yorum ve tavsiyede bulunanların kişisel görüşlerine
dayanmaktadır. Bu görüşler mali durumunuz ile risk getiri
tercihlerinize uygun olmayabilir. Bu nedenle, sadece burada yer
alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize
uygun sonuçlar doğurmayabilir.

*******

Foreks Haber Merkezi ( [email protected] )
http://www.foreks.com
http://twitter.com/#!/ForeksTurkey