FOREX Weekly Forecast by Technical Analysis

EUR/USD
The U.S. currency had the biggest weekly decline against the euro in two months as the Fed announced June 18 it will reduce monthly bond-buying while holding its interest-rate target at virtually zero.

 The pound rose for a third week as traders had the most bullish futures wagers since 2007. A gauge of currencies volatility increased from a record low. EUR/USD gains were enabled as the European Commission asserted that the Eurozone’s economic outlook is improving. The Brussels-based institution now sees the Eurozone’s economy expanding by 1.2 per cent this year, up slightly from the 1.1 per cent previously forecast. They also see the unemployment rate in the currency bloc edging to 12 per cent.
Forecast:
The EUR/USD pair broke higher during the course of the week, using the 1.35 level as support. That being the case, it looks as we continue to bounce around in this general vicinity, using the 200 pips as the range for the market right now. Long-term traders will probably avoid this market, but short-term traders will probably find it very profitable as it looks very well contained and we have very obvious support and resistance levels. However, if we do get above the 1.37 level, we feel that the market will finally go back towards a 1.40 handle. A move below the 1.35 level since this market down to the 1.33 handle.
USD/JPY
The USD/JPY ended the week at the 102 range while traders closely monitor the conflict in Iran moving to safe havens while the geopolitical situation boils over. 

In overseas trading overnight, the dollar briefly rose to around ¥102 thanks to a rise in U.S. long-term interest rates following favorable economic data, including the Federal Reserve Bank of Philadelphia’s manufacturing index for June. The dollar was later stuck in a narrow range around ¥101.85.
Forecast:
The USD/JPY pair went back and forth over the course of the week, as continue to meander in a fairly tight consolidation area. It’s a bit difficult for longer-term traders to be involved in this market, and until it break well above the 103 level, we do not see much of a trade to the long side. As far selling is concerned, we think that there is simply far too much support below to even consider it at this point in time. Ultimately, this market breaks out to the upside, but it might take a while.
GBP/USD
With the British Pound currently trading close to a five-year high against the US Dollar, news of the Federal Reserve’s policy meeting can only help enhance the Pound Sterling to US Dollar exchange rate relationship further. 

Thursday has seen the UK retail sales report fall slightly short of predictions; however it’s still lent the Pound some underlying support. The Pound is displaying stability against the US Dollar as the US Federal Reserve is currently showing no intention of increasing interest rates. The Federal Open Market Committee also dropped its initial forecast of a long term interest rate from 4-3.75%.
Forecast:
The GBP/USD pair went back and forth during the course of the week, but closed above the 1.70 handle, a significant move to the upside. That was a pretty strong barrier for us, and we believe that it opens the way to the 1.75 level as a target. It will probably take a bit of time, but we do believe that eventually that level gets hit. If we pull back from here, we would fully anticipate buyers stepping into the market and lifting the British pound yet again.
AUD/USD
The AUD/USD ended the week close to the 94 mark at 0.9383 staying strong after positive data and promises from the Chinese Premier that China will meet its growth expectations regardless of what the government needs to do. 

The currency soared after the FOMC meeting on Wednesday. The ‘Aussie’ fell from its highest level in two months against the US Dollar after peaking at 94.33, the highest level witnessed since April 10th. The Australian dollar has more than shaken off a slight dovish shift by the Reserve Bank of Australia and has not spent much time beneath 94 cents since the FOMC meeting.  It seems likely the market would at some stage like to inquire as to what kind of supply is above 94.4 cents.
Forecast:
The Australian Dollar is now expected to fall against the US Dollar at a quickening pace as the US economy improves and commodity prices fall. The AUD/USD pair went back and forth over the course of the week forming a neutral candle. This neutral candle is still within the consolidation area that we have been in for some time, thereby not really telling us much other than the pressure to breakout to the upside continues. Because of this, we believe that ultimately the Australian dollar does again, but the market has some work to do to make that happen. If we can get a move above the 0.95 handle, we believe that this market goes to the parity level given enough time.
Currency Data from 23 – 27 june

Date	Time	Currency	Impact	Particular	Forecast	Previous
Mon Jun 23	7:15am	CNY	HIGH	HSBC Flash Manufacturing PMI	49.7	49.4
	11:30am	JPY	HIGH	BOJ Gov Kuroda Speaks
	2:30pm	EUR	HIGH	French Flash Manufacturing PMI	49.6	49.6
	1:00pm	EUR	HIGH	German Flash Manufacturing PMI	52.7	52.3
	7:30pm	USD	HIGH	Existing Home Sales	4.74M	4.65M
Tue Jun 24	2:00pm	GBP	HIGH	Inflation Report Hearings
	7:30pm	USD	HIGH	CB Consumer Confidence	83.6	83
		USD	HIGH	New Home Sales	442K	433K
Wed Jun 25	6:00pm	USD	HIGH	Core Durable Goods Orders m/m	0.003	0.003
Thu Jun 26	3:00pm	GBP	HIGH	BOE Gov Carney Speaks
	6:00pm	USD	HIGH	Unemployment Claims	314K	312K
Fri Jun 27	4:15am	NZD	HIGH	Trade Balance	250M	534M
	All Day	EUR	HIGH	German Prelim CPI m/m	0.002	-0.001
	2:00pm	GBP	HIGH	Current Account	-17.1B	-22.4B

Singapore and Malaysia Stock Market Technical Analysis Report

Market forecast for STI: Today’s performance of STI makes a Red candle & the formation of inverted hammer, where it has a small real body and a long shadow. Further the Moving Average Envelops shows that the STI is in consolidate phase and trading in a tight range where it’s becoming difficult for STI to sustain above the level of 3100.

Technical indicators:
RSI is under the base line @40.87 & MACD is moving flat where the CCI is performing at -151.88

STRAITS TIME  LEVELS
Support 1	3045
Support 2	3032
Support 3	3020
Resistance 1	3065
Resistance 2	3080
Resistance 3	3095

 Important Factor for today:-

• 30.2% increase in share price of Asiatravel between Tuesday & Wednesday further SGX made a red alert for it.
  
• SGX is about to revise the fee structure which will be applicable from 2nd May 2014 as to make the trading more cost effective the clearing fee would be reduced by one fifth from 0.04% to 0.325% of contract value.
  

Market Review for KLCI:
Today KLCI opened at 1814.29 and touched the high of 1818.17 further closed at the high. Today the green candle was formed for the day.

Market forecast for KLCI:
Hammer Pattern was formed by the todays candle with the small body and long shadow. Studding the Bollinger Bands it can be said that the KLCI is in the Over Sold position and can take a recovery for the up side. Where there is a flat move for the EMA.
Technical indicators:
RSI is just bellow the base line @48.19. Where the CCI is performing at -92.44.

KLCI LEVELS
Support 1	1805
Support 2	1792
Support 3	1778
Resistance 1	1825
Resistance 2	1838
Resistance 3	1852

SGX Stock Market Live News

SGX launches Securities Market Quality Report

The report provides information on trading activity, liquidity, volatility, and trading costs on the SGX securities market. Singapore Exchange said the report considers the abovementioned factors in the context of the overall securities market as well as according to sub-segments based on large, mid- and small cap stocks.

According to SGX Head of Securities Mr Nels Friets, they hope market participants, especially institutional players, will find the report useful in helping them with their trading decisions on SGX.

Live Stock News Singapore

Growth in Asia's logistics sector will drive demand for portfolios of Mapletree Logistics Trust (MLT) in the medium term, CIMB said, highlighting the firm as its preferred pick in the industrial Real Estate Investment Trust sector.

STOCKS NEWS SINGAPORE-Singapore index futures fall :

Singapore index futures dipped 0.38 percent, indicating a weak start for the benchmark Straits Times Index . Seoul shares opened slightly lower with shipbuilders leading declines, while Japan's Nikkei edged lower as investors locked in profits on Friday.

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SGX Singapore Stocks Live Market

SGX Singapore Review

The market started on a steady note on Tuesday following gains on Wall Street overnight after oil prices retreated.

Singapore key index STI opens @ 2950.81 and after that it made a day low of 2945.37 and then took support @ that level and traded higher side and made a high of 2970.44 and closed near to day's high @ 2969.73 with gain of 22.95 up by 0.78%. Volume was 1.46 billion shares worth $1.24 billion. Gainers led losers 238

to 161.

Singapore shares inched higher by midday, buoyed by positive U.S. housing data, but poorer-than-expected earnings from palm oil firm Golden Agri-Resources Ltd capped the broader index's gains.

SGX Singapore Stocks Tomorrow

After yesterdays fall today STI took support @ 2945 levels and closed near to 2970 @ 2969.levels which is good level to turns back in the bullish form.

STI breached its 2950 levels and closed and took support @ 2945 levels but taking support that level and recovers from the lows this movement of STI formed a bullish candlestick pattern called White Opening Marubozu it's a single candlestick pattern characterized by a long white body. It has an upper shadow but no lower shadow. This is a strong bullish candlestick pattern.
 

For the coming days, investors have to follow a cautious approach in markets as market was at high levels so some profit taking is possible from higher levels.

STI Support

STI having nearest support @ 2935 and below this level it can take support @ 2920 levels and 2900 is the major support level.

STI Resistance

STI having Resistance @ 2975 and above this level it may take resistance from 2995-3015 levels.

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Singapore Stock Market Live Updates

Shares of Broadway Industrial Group Ltd, surged as much as 11 percent as traders cited consolidation talk in the sector after recent declines. By 0207 GMT, shares in the precision moulding manufacturer were up 9.6 percent at S$0.285 with 13.1 million shares traded, nearly 11 times its average daily volume traded over the last five sessions. Last week, Apple Inc, a company notorious for keeping its supply chain a secret, released a list of its major suppliers. Broadway was included in the list.

Economists stated the bounce-backs in shipments of drugs are typically not an indication of a sustained change in growth. Going forward, economists opine that a slowdown in growth in Asia as well as the debt woes in Europe and the weakness in the US economy may all put downward pressures on NODX.

STX OSV: Majority Shareholder, STX Europe AS Exploring Potential Sale.
STX OSV Holdings Limited has been informed that its majority shareholder, STX Europe AS, is exploring a potential sale of its shares in the Company and has retained JPMorgan Chase Bank, N.A., Hong Kong Branch and Standard Chartered Securities Korea Limited in connection therewith.

China trade growth seen modest in difficult Q1
China's export and import growth will show stable and modest growth in the first quarter of 2012 despite difficult trade conditions, the Ministry of Commerce said on Wednesday.

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Live Singapore SGX Market Updates

Key Terms

- Singapore Share Up at noon

- Malasia Market on rang bound at midday trading.

- Ashian Market groom by Dollar downside.

Singapore attracted S$13.7 billion ($10.6 billion) in fixed asset investments in 2011 and hopes to bring in S$13-15 billion this year despite the problems in Europe, the city-state's investment planning agency said on Tuesday. The fixed asset investments received last year were at the top end of the government's S$12-14 billion forecast and exceeded the S$12.9 billion in 2010, the Economic Development Board (EDB) said in a statement.

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Singapore Stock Market fall by 12 %, 2 years lowest profit.

- Net profit S$65.4 mln; Reuters consensus S$60 mln

- CEO cautious on outlook, says to keep costs under check

- Derivative revenue surprise on the upside

- SGX shares fall 27 pct in 2011, underperform broader market.

SINGAPORE, Jan 16 (Reuters) - Singapore Exchange Ltd , Asia's third-largest listed bourse, reported its lowest profit since March 2009, as weakness in global markets hurt its core securities business, and the bourse operator gave a cautious outlook. The results were however above market expectations as volatility boosted SGX's derivatives revenue. SGX was hit by a sharp drop in securities turnover, as investors shunned risk, while fund raising activities in capital markets were curtailed due to Europe's debt crisis.

SGX's securities market revenue fell 34 percent to S$53.2 million in October-December from a year ago, hit by a 37 percent decline in securities daily average trading value to S$1.1 billion. Derivatives revenue rose 11 percent to S$37.7 million as volatile markets led to a rise in volume for derivative products, partly helped by increased bets on Nikkei options and Chinese futures. SGX shares ended 2.2 percent lower on Monday.

The Singapore bourse operator has a market value of about $5 billion, slightly below ASX. Hong Kong Exchanges and Clearing Ltd is the biggest listed bourse in Asia with a market capitalisation of $17 billion at the close of Friday's session.

Singapore’s Straits Times Index dropped 1.3 percent to 2,756.49 at the close. All but four shares declined in the 30-member gauge.

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