Intraday trading signal - page 149
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AceTraderFx Mar 19: Intra-Day Market Moving News and Views (USD/CHF)
Intra-Day Market Moving News and Views
19 Mar 2015 08:33GMT
USD/CHF - ...... SNB keeps its benchmark rate unchanged at -0.25% and says, quote:
'Swiss franc is significantly overvalued and should continued to weaker over time;
will continue to take account of the exchange rate situation, and its impact o inflation n economic developments, in formulating its monetary policy;
will therefore remain active in fx mkt, as necessary, in order to influence monetary conditions;
noticeable weakening in the economy may be expected, particularly in the first half of the year.'
Earlier Dlr pares yesterday's sharp sell off in Thursday's trading and is maintaining a firm undertone ahead of SNB rate announcement at 08:30GMT.
Reuters reported the Swiss gov't cut its growth forecasts for this year and next after the Swiss National Bank removed its cap on the franc, but said there were no signs of a severe slowdown.
"Seen from the today's viewpoint Switzerland may experience a temporary economic slowdown," economists at the State Secretariat for Economics (SECO) said in a statement on Thursday.
"However, in the current environment there are no signs of any sharp downturn ? with a marked fall in economic activity and sharp rise in unemployment."
It saw the economy expanding 0.9% this year and 1.8% in 2016. Before the cap ended, it had expected growth of 2.1% this year n 2.4% next year, but warned last month that a soaring franc would hurt economic growth and lead it to lower its predictions.
It forecast consumer prices would fall 1.0% this year before rising 0.3% in 2016.
The forecasts come shortly before Switzerland's central bank convenes for its first regular monetary policy meeting since abandoning the franc cap in Jan n allowing the currency to float freely.
AceTraderFx Mar 20: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 20 Mar 2015 00:48 GMT
EUR/USD - 1.0663
Despite euro's rally from 1.0580 to as high as 1.1062 Wednesday, renewed broad-based strength in greenback pressured price sharply from there and the single currency tumbled to 1.0613 in yesterday New York.
This is suggesting the said correction has ended and choppy trading with downside bias would be seen.
Looking ahead, a daily close below 1.0551 support would confirm this view and bring re-test of the said temporary low later this month.
On the upside, only above 1.0820 (previous support) would prolong choppy trading but reckon resistance at 1.0920 would remain intact.
AceTraderFx Mar 20: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
20 Mar 2015 02:20GMT
USD/JPY - ....... Dlr strengthened on Thursday due to renewed broad-based demand in the greenback. Buying interest emerged above Wednesday's post-FOMC bottom at 119.29 and lifted price from Asian low at 119.68 to as high as 121.04 near NY closing before retreating on profit-taking.
Price later dropped to 120.72 and then 120.71 in Tokyo morning today after release of BoJ minutes (see our prev. MMN).
After the volatile sessions this week, the pair is expected to settle inside 120.00-121.00 level on Friday due to lack of key economic data from the U.S. and position adjustments ahead of the weekend may affect intra-day move.
Therefore, trading the dlr fm both sides of the market is recommended.
At the moment, bids are noted at 120.30-20 and more at 120.00 with mixture of bids and stops emerging just below latter level.
On the upside, offers are placed at 120.80/85, 121.00 and then 121.20-30 with stops located just above 121.50.
Fridaywill see the release of Germany's producer prices, eurozone current account and net investment flow, U.K. PSNCR, Canada's CPI and retail sales.
AceTraderFx Mar 20: Intra-Day Market Moving News and Views (EUR/USD)
Intra-Day Market Moving News and Views
20 Mar 201506:39GMT
EUR/USD- ...... Although the single currency extended its gain from yesterday's low at 1.0613 (NY) to 1.0695 in early Asia following the release of EU statements and comments from German Chancellor Merkel, price subsequently traded sideways in a relatively narrow range of 1.0674-1.0695 due to quiet market condition.
In European session, Germany's produce price index will be released at 07:00GMT, the index is expected to have increased by 0.2% from the previous month, but the year-over-year change will still be deeply in the -ve zone at -1.9%.
Oil price falls do not fully explain the low prices, as the core index is also deeply -ve.
Later, euro zone's current account will be released at 09:00GMT. Until then, further choppy sideways trading is envisaged.
Bids are placed at 1.0660-50 and around 1.0625/20 with stops located just below 1.0600, whilst offers are touted at 1.0725/30, 1.0755/60 and then 1.0780-90 with stops emerging just above 1.0800.
AceTraderFx Mar 20: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views
20 Mar 201508:06GMT
USD/JPY - 120.87... Although dlr edged lower from yesterday's high of 121.04 (NY) to 120.61 in Asia after the release of Feburary BoJ board minutes, which showed concern on the trend in consumer prices, the pair moved sideways afterwards as focus was on other usd/majors.
At the moment, bids from various accounts are noted at 120.65/60, 120.30-20 and more at 120.00 with mixture of bids and stops emerging just below latter level.
On the upside, offers are placed at 120.80/85, 121.00 and then 121.20-30 with stops located just above 121.50.
Later today, pay attention to two FOMC speakers in NY session. Federal Reserve Bank of Atlanta President Dennis Lockhart will speak on monetary policy n the economic outlook b4 the Georgia Law Review Symposium at 14:20GMT, whilst Federal Reserve Bank of Chicago President Charles Evans will be a panelist at the Brookings Institution conference, "Risk Management for Monetary Policy Near the Zero Lower Bound" (15:30GMT).
AceTraderFx Mar 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 23 Mar 2015 01:06 GMT
EUR/USD - 1.0815
Euro's rally from last Thursday's low at 1.0613 to as high as 1.0882 last Friday signals correction from last Wednesday fresh 2-week peak at 1.1062 has ended there earlier and consolidation with upside bias remains.
A daily close above 1.0920 would encourage for gain towards 1.1000 but said temporary is likely to hold this week.
Looking ahead, only above 1.1062 would extend erratic up move from last Monday's fresh 12-year trough at 1.0457 towards 1.1140/50.
On the downside, below 1.0695 would prolong choppy trading but above mentioned support at 1.0613 should remain intact.
AceTraderFx Mar 23: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
23 Mar 2015 02:38GMT
USD/JPY- ...... Dlr tumbled on Fri due to renewed broad-based selling in the greenback, price fell from European high of 121.20 to 119.90 in NY session, then marginally lower to 119.83 in Australia earlier today before recovering.
Despite dlr's marginal breach of 119.90 to 118.83, lack of follow-though selling and intra-day recovery in Asian morning suggests consolidation above said intra-day low would be seen.
However, sentiment on dlr remains mildly bearish after Friday's decline, so selling the pair on intra-day recovery is recommended.
At the moment, offers are noted at 120.25/30 n then 120.55/60 with mixture of offers and stops emerging above 120.80.
On the downside, bids are placed at 119.80-70 and around 119.60 with mixture of bids and stops located at 119.40 and further out below last Wednesday's 2-week trough at 119.29.
This week will see the release of U.K. CBI trends, U.S. existing home sales and eurozone consumer confidence on Monday.
Australia's CB leading index, China HSBC manufacturing PMI, Germany's manufacturing PMI, eurozones manufacturing PMI, U.K. CPI, PPI, RPI and DCLG house price, U.S. CPI, Redbook and new home sales on Tuesday.
New Zealand's exports, imports and trade balance, Germany's Ifo business climate, U.S. durable goods, SNB quarterly bulletin on Wednesday.
Germany's GfK consumer sentiment, U.K. retail sales, CBI distributive trades and U.S. jobless claims on Thursday.
Japan's household spending, CPI, unemployment rate and retail sales and U.K. GfK consumer confidence on Friday.
AceTraderFx Mar 23: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views
23 Mar 2015 07:20GMT
USD/JPY- ..... Although dlr edged lower in Asia and dropped marginally below Australia's low at 119.83 to 119.76 due to cross-buying in yen, price moved sideways afterwards as focus is on other majors ccys.
Investors should pay close attention to the release of U.S. existing home sales for February at 14:00GMT as there is more uncertainty than usual about housing numbers in these months due to the harsh winter weather. Market expects the data to improve to 1.7% and 4.90 mln units from -4.9% and 4.82 mln units in previous month respectively.
At the moment, offers are noted at 120.25/30 and then 120.55/60 with mixture of offers and stops emerging above 120.80.
On the downside, bids are placed at 119.80-70 and around 119.60 with mixture of bids and stops located at 119.40 and further out below last Wednesday's 2-week trough at 119.29.
Early this morning although euro traded with a biddish tone at Monday open on buying by st specs, price briefly re-tested Friday's NY high of 1.0882, failure to penetrate this res prompted long-liquidation and the single currency then fell to 1.0784 ahead of Tokyo lunch session.
Intra-day euro's weakness suggested further consolidation below said Friday's high would continue before the rally from last Thursday's low at 1.0613 resumes.
Therefore, buying the single currency on dips was favoured, however, profit should be taken on subsequent rise.
Investors should pay attention to the release of Bundesbank's monthly report at 11:00GMT and then speech by ECB President Draghi at 14:00GMT, he will make an introductory statement at the Quarterly Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels.
AceTraderFx Mar 24: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 24 Mar 2015 01:12 GMT
EUR/USD - 1.0936
Euro's rally from last Thursday's low at 1.0613 to as high as 1.0972 yesterday signals correction from last Wednesday fresh 2-week peak at 1.1062 has ended there earlier and consolidation with upside bias remains.
Looking ahead, above 1.1062 is needed to extend erratic up move from last Monday's fresh 12-year trough at 1.0457 towards 1.1140/50.
On the downside, below 1.0882 (Friday's high, now support) would prolong choppy trading but reckon 1.0834 would contain pullback.
AceTraderFx Mar 24: Intra-Day News and Views (GBP/USD) & data to be released today
Intra-Day Market Moving News and Views
24 Mar 2015 03:00GMT
GBP/USD - ..... The British pound swung wildly vs the greenback on Monday but managed to climb back near Monday's high of 1.4990 (AUS) near NY closing, however, broad-based rebound in USD knocked price down again in Tuesday's Asia and cable retreated from Australia's high of 1.4975 to 1.4920.
Although weakness in major currency vs the greenback suggests consolidation with mild downside bias would be seen ahead of European open, sharp fall is unlikely as investors are awaiting the release of the key U.K. inflation data, PPI n RPI at 09:30GMT.
Therefore, whilst selling the British pound for st trade in Asia is recommended, profit should be taken on next intra-day decline.
Having said that, sterling may come under renewed bashing if annual CPI continues to fall.
At present, offers are noted at 1.4950-55 and then 1.4965/70 with mixture of offers and stops located above 1.4990-00.
On the downside, bids are placed at 1.4900 and around 1.4880-70 with stops located just below 1.4850.
Tuesdaywill see the release of Australia's CB leading index, China HSBC manufacturing PMI, Germany's manufacturing PMI, eurozones manufacturing PMI, U.K. CPI, PPI, RPI and DCLG house price, U.S. CPI, Redbook and new home sales.