Intraday trading signal - page 33
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Daily FX Market Outlook by AceTrader-2-11-2010
Market Review - 01/11/2010 23:00 GMT
Euro falls against dollar on upbeat US manufacturing data
The single currency tanked against dollar on Monday as upbeat U.S. manufacturing data prompted investors to reduce their short positions on dollar ahead of Fed meeting.
Euro dropped briefly but sharply to 1.3894 in Asian morning on dollar's rebound especially versus the Japanese yen on talk of possible intervention by BOJ. Although the single currency rebounded strongly to 1.4012 before European opening on renewed risk appetite due partly to the release of stronger-than-expected official Chinese PMI data (which came in at 54.7 in October, versus the forecast of 52.9 and 53.8 in September), the pair dropped from there on long liquidation. Euro extended its weakness after the release of stronger-than-expected U.S. ISM manufacturing PMI data for October (which came in at 56.9 versus the expectations of 54.0) and fell sharply to 1.3864 in NY morning before trading sideways.
Although the greenback jumped from a fresh 15-year low of 80.21 to 81.60 against the Japanese yen in Asian morning on talks of possible BOJ's intervention, dollar pared its gain and weakened to 80.32 before staging a recovery in NY session due to the release of strong U.S. ISM manufacturing data.
Despite cable's brief drop to 1.5995 in Asian morning on dollar's strength, the British pound rebounded on risk appetite. Sterling climbed to an intra-day high of 1.6090 in European morning after the release of U.K. PMI for the manufacturing sector (which came in at 54.9 for October, versus the forecast of 53.0) and then traded narrowly in NY session. Cable was also supported by cross buying in sterling versus euro as eur/gbp tumbled from 0.8722 to 0.8652.
Economic data to be released on Tuesday include:
Australia RBA rate decision, Swiss Retail sales, Germany Manufacturing PMI, EU Manufacturing PMI , U.K. Halifax hse prices, PMI construction.
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GBP/USD Intra-day signal by AceTrader
INTRA-DAY GBP/USD: 1.6060
Last Update At 02 Nov 2010 06:27 GMT
Cable's intra-day rebound to 1.6069 after RBA's
surprise rate hike suggests pullback fm y'day's top
of 1.6090 has possibly ended earlier at 1.6008 but
abv needed to confirm MT rise fm 1.4228 (May) has
resumed for re-test of 1.6108 res n then 1.6140/50.
Below 1.6035 wud prolong choppy sideways trading
n may bring another drop to 1.6008. Stand aside.
Range Forecast
1.6035 / 1.6069
Resistance/Support
R: 1.6069/1.6090/1.6108
S: 1.6008/1.5995/1.5979
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EUR/USD Intra-day signal by AceTrader
INTRA-DAY EUR/USD OUTLOOK
Last Update At 03 Nov 2010 06:00 GMT
Rate : 1.4005
Euro's intra-day retreat after brief bounce to
1.4046 suggests choppy sideways trading below yes-
terday's high of 1.4058 wud continue n weakness to
1.4005 cannot be ruled out but reckon 1.3994 wud
contain pullback n yield another rebound later.
Buy on dips with stop as indicated, break wud
signal rise fm 1.3734 has made a top, risk 1.3949.
Range Forecast
1.4005 / 1.4045
Resistance/Support
R: 1.4058/1.4080/1.4113
S: 1.3994/1.3946/1.3915
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GBP/USD Intra-day signals by AceTrader
INTRA-DAY GBP/USD:1.6120
Last Update At 04 Nov 2010 04:19 GMT
Despite cable's intra-day rebound to 1.6134, as
the strg retreat fm y'day's 9-month high of 1.6180
to 1.6035 signals MT uptrend has formed a temp. top
there, reckon 1.6135/40 wud cap upside n yield a
retreat later.
Trade fm short side with stop as indicated n
only abv 1.6180 wud extend upmove to 1.6200/10.
Range Forecast
1.6090 / 1.6134
Resistance/Support
R: 1.6134/1.6157/1.6180
S: 1.6033/1.6007/1.5962
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Daily FX Market Outlook by AceTrader-5-11-2010
Market Review - 04/11/2010 23:02 GMT
Dollar falls broadly on risk appetite after Fed decision
The greenback dropped against major currencies on Thursday as the Federal Reserve's bond-purchasing plan prompted investors to seek higher-yielding currencies and the Australian dollar rallied to a fresh 28-year high.
Dollar fell from 81.23 to 80.75 against the Japanese yen in Asian morning as Japanese exporters bought yen aggressively. Despite dollar's recovery on cross-selling in yen due to renewed risk appetite, the greenback dropped sharply to 80.58 after the release of worse-than-expected U.S. jobless claim (which came in at 457K, versus the expectations of 443K and the previous reading of 434K ) and then traded narrowly in NY session.
The single currency edged higher from 1.4103 and surged in European session due to broad-based buying by sovereign names. Later, euro rose further as ECB President Jean-Claude Trichet said after ECB rate decision that risks to the inflation were slightly tilted to the upside. The single currency eventually climbed to a fresh 9-month high of 1.4283 before retreating due to active cross selling in euro (eur/jpy, eur/gbp and eur/chf fell from 115.42 to 114.45, 0.8818 to 0.8718 and 1.3805 to 1.3585 respectively).
The European central bank left its benchmark interest rate unchanged at a record low of 1 %.
The British pound ratcheted higher from 1.6085 and rose above Wednesday's high of 1.6180 in European morning after U.K. Halifax house prices m/m for Oct came in at 1.8%, 3 times the market's forecast. Cable later rallied to a fresh 9-month high of 1.6300 in NY morning on cross buying in sterling versus euro after BOE made no change to its asset purchasing plan .
The Bank of England kept its asset purchasing program unchanged at 200 billion pounds and maintained its interest rate at a record low of 0.5%.
The commodity currencies rose strongly on Thursday as the Australian dollar rallied from 1.0020 to a fresh 28-year high of 1.0177. Nzd/usd surged from 0.7830 to 0.7976 while usd/cad sank from 1.0112 to 1.0010. Spot gold also rallied to a fresh record high of 1392.60.
DJI rallied on Thursday and it ended at 11435, up by 220 points or 1.96%. FTSE-100, CAC-40 and DAX also surged by 1.98%, 1.92% and 1.77% respectively.
Economic data to be released on Friday include:
Australia RBA's Quarterly Statement, Japan BOJ rate decision, U.K. PPI core, PPI input, PPI output, EU Retail sales , Germany Industrial prod'n , U.S. Avg. hourly earnings , Non-farm payrolls, Private payrolls , Unemployment rate, Pending home sales, Canada Employment change, Unemployment rate, Building permits.
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Support, Resistance and Range Forecast by AceTrader
INTRA-DAY USD/JPY:
Last Update At 05 Nov 2010 07:54 GMT
Range Forecast
80.70 / 80.95
Resistance/Support
R: 81.00 / 81.17 / 81.60
S: 80.58 / 80.32 / 80.21
-------------------------
INTRA-DAY EUR/USD:
Last Update At 05 Nov 2010 08:01 GMT
Range Forecast
1.4183 / 1.4215
Resistance/Support
R: 1.4221/1.4249/1.4283
S: 1.4184/1.4147/1.4103
--------------------------
INTRA-DAY USD/CHF:
Last Update At 05 Nov 2010 07:36 GMT
Range Forecast
0.9540 / 0.9580
Resistance/Support
R: 0.9650/0.9693/0.9758
S: 0.9541/0.9485/0.9463
---------------------------
INTRA-DAY GBP/USD:
Last Update At 05 Nov 2010 07:14 GMT
Range Forecast
1.6200 / 1.6235
Resistance/Support
R: 1.6238/1.6267/1.6300
S: 1.6207/1.6180/1.6138
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EUR/USD Intra-day signal by AceTrader
INTRA-DAY EUR/USD OUTLOOK
Last Update At 09 Nov 2010 06:08 GMT
Rate :1.3867
Despite euro's marginal weakness to 1.3836 ahead
of European opening, subsequent rebound suggests an
intra-day low has 'possibly' been made, however, a
breach of 1.3896 res needed to confirm n bring a
stronger retrace. of fall fm 1.4283 to 1.3912/20.
Below 1.3836 yields one more fall to 1.3807/17 b4
prospect of a strg bounce due to loss of momentum.
Range Forecast
1.3850 / 1.3880
Resistance/Support
R: 1.3896/1.3950/1.3977
S: 1.3807/1.3734/1.3697
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EUR/USD Intra-day signal by AceTrader
INTRA-DAY EUR/USD OUTLOOK
Last Update At 10 Nov 2010 08:27 GMT
Rate : 1.3806
Although euro has risen again after early brief
retreat fm 1.3801 to 1.3758, suggesting further
choppy trading abv Asian low at 1.3735 wud continue
n reckon 1.3823 (prev. sup) wud cap current rebound
, yield decline, below 1.3758, 1.3735 again.
Reinstate short on marginal gain with stop as
indicated, abv may risk correction to 1.3870/80.
Range Forecast
1.3785 / 1.3820
Resistance/Support
R: 1.3823/1.3855/1.3892
S: 1.3758/1.3735/1.3697
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EUR/USD Intra-day signal by AceTrader
INTRA-DAY EUR/USD OUTLOOK
Last Update At 11 Nov 2010 05:39 GMT
Rate : 1.3785
Despite extending y'day's rally fm 1.3670 to 1.
3822 in Asia, as renewed selling below y'day's high
at 1.3826 has pushed euro lower, suggesting consoli
dation with nr term downside bias is seen for minor
retracement of aforesaid rise but 1.3755 wud hold.
For st trade, turn short on recovery for this
move n exit on subsequent decline.
Range Forecast
1.3775 / 1.3800
Resistance/Support
R: 1.3826/1.3858/1.3878
S: 1.3755/1.3740/1.3715
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AUD/USD Intra-day signal by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: AUD/USD
AUD/USD : 0.9872
Last Update At 12 Nov 2010 08:36 GMT
Despite aussie's intra-day resumption of recent
decline fm last wk's 28-yr 1.0183 high to 0.9825,
subsequent rebound suggests a temp. low has been
made n risk is seen for a stronger retrace. twd
0.9905 (prev. sup) b4 prospect of a retreat.
Exit short n stand aside. Below said sup wud
revive bearishness for weakness twd 0.9785/95...
Range Forecast
0.9850 / 0.9890
Resistance/Support
R: 0.9905/0.9953/0.9975
S: 0.9825/0.9789/0.9742
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