Intraday trading signal - page 23
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What is the point in posting this after the fact? And where did you cut and paste it from? Unless you claim authorship?
Supoort, Resistance and Range Forecast by AceTrader
INTRA-DAY USD/JPY:
Last Update At 30 Jun 2010 04:16GMT
Range Forecast
88.50 / 88.80
Resistance/Support
R: 88.93 / 89.06 / 89.46
S: 88.29 / 87.95 / 87.52
-------------------------------------------------
INTRA-DAY EUR/USD:
Last Update At 30 Jun 2010 04:19GMT
Range Forecast
1.2200 / 1.2230
Resistance/Support
R: 1.2229/1.2254/1.2296
S: 1.2167/1.2151/1.2111
-------------------------------------------------
INTRA-DAY USD/CHF:
Last Update At 30 Jun 2010 06:08GMT
Range Forecast
1.0800 / 1.0840
Resistance/Support
R: 1.0850/1.0882/1.0903
S: 1.0801/1.0759/1.0732
-------------------------------------------------
INTRA-DAY GBP/USD:
Last Update At 30 Jun 2010 06:00GMT
Range Forecast
1.5015 / 1.5065
Resistance/Support
R: 1.5106/1.5130/1.5192
S: 1.5012/1.4992/1.4974
Daily Market Outlook by AceTrader
Market Review - 01/07/2010 22:40 GMT
Dollar falls sharply to 7-month low vs yen on recovery fears
Dollar fell broadly as disappointing U.S. economic data stoked worries of double-dip recession on Thursday. Euro rallied across the board as Spain's auction of bonds was met with strong demand and that also eased investors' worries over the banks' funding issues.
Versus the Japanese yen, the greenback fell to a 7-month low on Thursday on poor economic data of US and China, which added to investors' uncertainty about the global economic recovery. Despite early rise to 88.57, the pair fell from there and the greenback extended intra-day decline after the release of higher-than-expected U.S. weekly jobless claims data which rose to 472,000 versus the economists' expectation of 452,000. The pair's fall picked up more downward momentum after the release of weaker-than-expected US ISM Manufacturing index and pending home sales data. The pair tumbled to 86.96 in NY mid-day before recovering.
On economic front, U.S. ISM Manufacturing index in June came in at 56.2, lower than the forecast of 59.0 and the previous reading of 59.7 in May. Pending home sales in may slumped by 30% versus the the estimation of -15.2% and the increase of 6.0% in April. China's June PMI came in at 52.1 vs forecast of 53.1 and 53.9 in May.
Market brushed off the early surprise Tankan large manufacturers' survey which rose to a 2-year high of +1 versus forecast of -4 as the lower-than-expected China's June PMI spooked investors as the world's 3rd largest economy would slow down due to comments by China Stats Bureau following the PMI release that the country's export outlook would be grim and drop in PMI reflected government's tightening policies and slower global recovery.
Although the weak China's PMI index prompted traders to sell euro versus most major currencies on risk aversion initially and price fell to 1.2193 in Asia, the single currency rebounded from there and later surged above 1.2490 to 1.2541 in NY afternoon on active short-covering due to a good Spanish bond auction. Spain sold 3.5 billion euros of a 5-year bond on Thursday at the top end of the Treasury's target amount. Euro also drew support as European banks only borrowed 111.237 billion euros from ECB in 6-day operation at fixed rate of 1.0%. Cross-buying in euro also lifted price as eur/chf skyrocketed from its fresh record low of 1.3073 to 1.3402 due to speculation of SNB's intervention while eur/jpy rose from 107.50 to 109.81.
Commodities prices declined on Thursday as weak economic data of US and China suggests global economic recovery remained fragile. Spot gold declined from 1244.00 to 1196.80 while U.S. crude oil for August delivery fell $2.68 or 3.54% to settle at 72.95 a barrel. Commodity-linked-currencies also fell sharply as aud/usd and nzd/usd once dropped to 0.8315 and 0.6795 but the pairs rebounded strongly to 0.8449 and 0.6919 respectively in tandem with euro.
Global stocks also weakened as FTSE 100 ended the day down by 2.36%, CAC 40 fell by 2.99%, DAX dropped by 1.81% and DJI pared most of its early losses and closed the day down by only 0.42% at 9732.53.
The closely eyed U.S. non-farm payrolls in June would be released on Friday.
Economic data to be released on Friday include: EU PPI , Unemployment , U.S. Avg. hourly earnings , Non-farm payrolls , Unemployment rate , Factory orders, revised durable goods.
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EUR/USD Intra-day signal by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2493
Late Update At 02 Jul 2010 05:26GMT
Despite trading narrowly in Asian morning after
y'day's 348-point rally fm 1.2193 to 1.2541 (NY),
as euro has ratcheted lower ahead of European open-
ing, below 1.2485 wud yield retrace. twd 1.2435 but
reckon 1.2398 (prev. res) wud hold fm here.
Stand aside n buy on dips for day trade. Only
abv 1.2541 wud bring marginal gain to 1.2560/70.
Range Forecast
1.2485 / 1.2520
Resistance/Support
R: 1.2541/1.2570/1.2621
S: 1.2485/1.2435/1.2398
EUR/USD Intra-day signal by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2533
Late Update At 05 Jul 2010 06:11GMT
Euro's intra-day sideways trading below Friday's
high at 1.2613 (NY) in Asia suggests consolidation
with near term downside bias remains for a minor
retracement of recent upmove to 1.2500, however,
reckon 1.2483 (Fri's low) wud hold n bring rebound.
Sell on recovery for 1.2520 or buy if euro drops
to 1.2500 for subsequent bounce to 1.2540.
Range Forecast
1.2525 / 1.2560
Resistance/Support
R: 1.2570/1.2613/1.2641
S: 1.2521/1.2483/1.2435
EUR/USD Intra-day signal by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2555
Late Update At 06 Jul 2010 06:24GMT
Despite euro's brief drop to 1.2479 in Asia,
subsequent rebound suggests pullback fm Friday's
high of 1.2613 has possibly ended there n consolida
tion with upside bias remains for marginal gain fm
here but only abv 1.2590 wud re-test said res lvl.
Below 1.2510/18 wud porlong choppy trading n
may another another fall to 1.2479. Stand aside.
Range Forecast
1.2535 / 1.2565
Resistance/Support
R: 1.2565/1.2613/1.2673
S: 1.2479/1.2453/1.2435
Daily Market Outlook by AceTrader
Market Review - 06/07/2010 22:12 GMT
Euro rises to a six week high on weak U.S. ISM non-manufacturing data
Although the single currency fell briefly below Monday's low of 1.2510 to 1.2479 fm 1.2545 in Asian morning, euro erased all the losses and rebounded strongly to 1.2607 due to the rebound in Asian and European Equities. Euro was also supported as the RBA kept its key cash rate steady at 4.5% for a second month and it remained optimistic about the outlook for Asia and the domestic economy. Later, despite a brief pullback fm 1.2607, renewed buying interest at 1.2565 lifted the single currency again on the initial firmness in U.S. stock markets n the euro hit an intra-day high of 1.2663 in NY morning b4 retreating as DJI erased most of the early 170-point gains. DJI eventually closed the day at 9743.62, up by 57.14.The European equities rallied on Tuesday as FTSE 100, DAX, CAC 40 rose by 2.93%, 2.15% and 2.73% respectively.
In other news, Bank of Greece Governor Georges Provopoulos told Greek television Mega Channel that additional austerity measures were not needed to meet this year's public deficit target.
Versus the Japanese yen, despite dollar's brief drop to 87.42 due to the initial weakness in Asian equities, the greenback rebounded from there on the rise in dollar/yuan NDF because of market uncertainty over future yuan policy together with recent cash shortfall in the Chinese money market. Later, the greenback ratcheted higher to an intra-day high of 87.98 on cross selling in yen due to the rally in European equities as eur/jpy, aus/jpy and gbp/jpy rose from 109.14 to 110.85, from 72.73 to 75.02 and from 131.90 to 133.68 respectively. However, the pair erased all its intra-day gains in NY morning and fell sharply to 87.35 after the release of much weaker-than-expected U.S. ISM non-manufacturing data which decreased to 53.8 in June versus the economists' forecast of 55.0.
Despite cable's initial drop to 1.5081 in the Asian morning, the British pound rebounded on short-covering in tandem with euro and rose to 1.5227 in NY morning before retreating on cross selling in sterling (eur/gbp rose from 0.8268 to 0.8341).
Although the Swiss Franc initially dropped to 1.0564, the pair rose to 1.0665 after the release of lower-than-expected Swiss CPI which came in at -0.4% m/m and 0.5% y/y in June versus the expectations of 0.0% and 1.0% respectively before another fall to 1.0562.
The commodity-linked currencies gained due to the optimistic comment from RBA on Tuesday as the Australian dollar rose from 0.8317 to 0.8560, the New Zealand dollar advanced from 0.6826 to 0.6975 while usd/cad fell sharply fm 1.0678 to 1.0486.
Economic data to be released on Wednesday include: U.K. Nationwide Consumer Confidence, EU GDP, Germany Factory orders, Canada Ivey PMI.
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GBP/USD Intra-day signal by AceTrader
INTRA-DAY GBP/USD: 1.5138
Last Update At07 Jul 2010 06:16GMT
Although cable has recovered after brief breach
of y'day's NY sup of 1.5129 to 1.5115 n sideways
trading wud be seen, reckon 1.5164 shud cap upside
n yield resumption of nr term fall fm y'day's high
of 1.5227 to 1.5110/15 but 1.5081 sup wud hold.
Sell cable again on further recovery as only abv
1.5164 res wud abort present bearishness.
Range Forecast
1.5120 / 1.5150
Resistance/Support
R: 1.5164/1.5208/1.5230
S: 1.5115/1.5081/1.5052
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Daily Market Outlook by AceTrader
Market Review - 07/07/2010 21:39 GMT
Euro rises to a seven-week high as global stock rally boosts risk appetite
Although the single currency remained under broad-based selling pressure in Asian morning on continued long liquidation and fell to an intra-day low 1.2553 in European morning after the release of weaker-than-expected German Factory orders, which dropped unexpectedly by 0.5% in May versus the economists' forecast of a rise of 0.5%, the euro rebounded and rose marginally two pips abv Tuesday's high of 1.2663 to a seven-week high of 1.2665 in NY mid-day on improved risk appetite as U.S. stocks markets rallied due to the better-than-expected earnings forecast issued by State Street Corp., the world's second-largest custodian bank. DJI, Nasdaq and S&P surged by 2.82%, 3.13% and 3.13% respectively (DJI ended the day above 10000 at 10018).
The comment from the committee of European Banking Supervisors also supported euro as it said 91 banks would take part in a probe into the health of its banking system, including many regional banks where markets suspect most of the sore spots in order to restore confidence in the sector.
Earlier, the plans to test the financial health of European banks pressured euro as two banking sources said the stress tests for European banks would not include a haircut on German sovereign bonds. They added the test would assume 2010 German GDP growth of 0.2% and a 'small decline' in 2011. European Union bank regulators were expected to reveal how tough their health checks of the region's banks would be, in hope of restoring markets' confidence.
In addition, German Finance Minister Wolfgang Schaedule said banks face some pressure to agree to make the results of stress tests public though it is up to lenders to decide on publication. He added Germany could cope with the results of the stress tests which are expected to be published later this month.
Although the British pound fell in Asian morning in reaction to U.K. BRC retail shop price index which rose 1.5% y/y in June, the lowest rate since March and dropped to an intra-day low of 1.5082 in European morning, cross buying in sterling (eur/gbp dropped fm Tuesday's high of 0.8341 to 0.8292) lifted price to 1.5219 due to the rebound in European equities and the rally in U.S. stocks before retreating. FTSE-100, CAC-40 and DAX ended the day up by 1.00%, 1.76% and 0.87% respectively.
Versus the Japanese yen, although the greenback fell to 87.02 in European morning, the pair rebounded strongly to a high of 87.78 on cross-selling in yen (eur/jpy, aud/jpy and gbp/jpy rallied from 109.32 to 110.95, 73.55 to 76.01 and 131.24 to 133.35 respectively) due to the firmness in European n U.S. stock markets.
The commodity-linked currencies also strengthened against the US dollar on Wednesday as the Australian dollar rose from 0.8450 to 0.8664, the New Zealand dollar advanced from 0.6887 to 0.7053 while usd/cad fell sharply fm 1.0606 to 1.0467.
Economic data to be released on Thursday include: Japan Machine orders, Current account, Economic watch DI, Machine tools orders, Australia Employment change, Unemployment rate, Swiss Jobless rate, Germany Export, Import, Trade balance, Industrial production, U.K. Industrial production, Manufacturing production, BOE rate decision, Halifax hse prices, EU ECB rate decision, U.S. Jobless claims, Canada New housing price index.
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