Intraday trading signal - page 160
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AceTraderFx May 14: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
14 May 2015 02:41GMT
USD/JPY- ...... Although dlr recovered in NY afternoon following intra-day sharp selloff to a near 2-week low of 119.03 after release of weaker-than-expected U.S. retail sales data, renewed selling at 119.34 capped gain in Tokyo morning on Thursday and pressured price down to 119.16.
Looks like dlr would trade above 119.03 in Asian morning due to demand by Japanese importers.
As recent weak U.S. data have raised concerns over the strength of the country's recovery and in turn dampened expectations for a rate hike from the Fed in Q2, selling dlr on recovery is recommended.
However, investors shoukd take profit on next decline as key support at 118.33 (reaction low from 2015 at 122.03 in March) should remain intact this week.
Looking ahead, investors should pay attention to the release of U.S. weekly jobless claims report at 12:30GMT.
Market is looking for number of Americans filing new claims for unemployment benefits to increase 10K to 275K last week but still near April's15-year low at 262K.
At present, offers are tipped at 119.40-50 and more at 119.65/70 with mixture of offers and stops at 119.90-120.00.
On the downside, bids are placed at 119.00-118.90 and around 118.80 with buying interest from various accounts at 118.60-40 region.
Thursdaywill see the release of U.K. RICS housing survey, Japan's foreign bond investment, New Zealand's RBNZ offshore holdings and Canada's new housing price index. Besides, investors are focusing on the release of U.S. GDP revision later this month. Economists estimate the economy shrank at a 0.8 percent pace.
AceTraderFx May 14: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 14 May 201507:50 GMT
USD/JPY - 119.17
Although dollar's breach of yesterday's low at 119.03 in European morning signals decline from last week's peak at 120.51 has resumed and further choppy trading inside early 8-week long broad range of 122.03-118.33 would continue with downside bias, April's bottom at 118.50 should remain intact today due to near term loss of momentum and yield rebound later.
On the upside, only a move back above 119.47 (Monday's low in NZ, now resistance) would indicate a temporary low has been made and bring subsequent gain to 119.71 and then 119.97/03.
AceTraderFx May 15: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOKUpdate Time: 15 May 2015 01:13 GMT
EUR/USD - 1.1402
Euro's rally above last Thursday's high of 1.1392 to a fresh near 3-month peak at 1.1445 yesterday signals erratic up move from March's 12-year trough at 1.0457 to retrace long-term downtrend has resumed and further gain to daily chart resistance at 1.1450 and then 1.1500 would be seen after consolidation.
On the downside, only a failure to penetrate 1.1445 and then move back below support at 1.1340/44 would indicate a temporary top is made and risk retracement towards 1.1279 (Tuesday high, now support) before rebound occurs.
AceTraderFx May 15: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
15 May 2015 07:18GMT
EUR/USD - ...... Euro moved in a choppy fashion as despite marginal gain to 1.1418 in Asia, price retreated briefly but sharply to 1.1371 before rebounding to 1.1420 in European morning due partly to cross-trading in Euro.
Expect fund flows would continue to dominate the market ahead of NY open due to the lack of important economic events in euro zone and its member countries.
At present, fresh bids from various accounts are building up at 1.1375/70 and more at 1.1360-50 with stops emerging below 1.1340.
On the upside, offers are touted around 1.1440 and more located further out in 1.1480-1.1500 region.
AceTraderFx May 15: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
15 May 2015 08:01GMT
USD/JPY -..... Dlr ratcheted higher in Asia due to cross-selling in yen vs other major ccys and rose to 119.49 and then 119.58 at European morning before retreating.
Investors are now awaiting the release of a slew of U.S. economic reports in NY morning, these include NY Fed Manufacturing Index, Industrial Output and Reuters/Michigan consumer confidence survey.
Market expects the latest readings of these reports wud show improvement in U.S. economy and if the actual figures are better or almost in line with expectations, they may give dlr a boost ahead of NY closing on Friday, however, 120.00 level is expected to remain intact today.
As present, bids are noted at 119.35/40, 119.20-10 and then around 119.00 with mixture of bids and stops at 118.80-70.
On the upside, offers from various accounts are tipped at 119.70-80 with stops building up just above 120.00.
AceTraderFx May 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOKUpdate Time: 18 May 2015 01:00 GMT
EUR/USD - 1.1433
Euro's rally to a fresh near 3-month peak at 1.1467 Friday signals erratic up move from March's 12-year trough at 1.0457 to retrace long-term downtrend has resumed.
Further gain to 1.1500 and then daily chart resistance at 1.1534 would be seen later this week before correction occurs.
On the downside, only a failure to penetrate 1.1467 and then move back below 1.1390/00 would indicate a temporary top is made and risk retracement towards 1.1223.
AceTraderFx May 18: Intra-Day News and Views (GBP/USD) & data to be released today
Intra-day Market Moving News and Views
18 May 2015 02:48GMT
GBP/USD - ..... Despite cable's intra-day strg rebound from 1.5702 to 1.5809 in NY session on Friday, active cross-selling in sterling, especially vs euro, knocked price down to 1.5721 near NY close.
Cable opened higher at 1.5745 in NZ today and then fell to 1.5707 in tandem with eur/usd after Asian open.
Due to lack of important U.K. economic data today, the British pound is likely to follow intra-day swings in the euro.
Earlier, property tracking website Rightmove said on Monday that the average asking price for a new house in the UK was down 0.1% on month in May.
On a yearly basis, house prices advanced 2.5%, slowing from 4.7% in the previous month.
At present, bids are reported at 1.5710-00 with stops below there.
On the upside, offers are located at 1.5750-60 and more above with some stops above 1.5820.
This week will see the release of U.K. Rightmove house price, Japan's machinery orders, China house prices, Japan's capacity utilization index, industrial output and tertiary industry index, Swiss retail sales, Germany's Buba monthly report and U.S. NAHB housing market index on Monday.
New Zealand's PPI, Australia's CB leading indicator and RBA meeting's minutes, U.K. CPI, PPI, RPI and DCLG house price index, Germany's ZEW economic sentiment, eurozone inflation report, U.S. building permits, housing starts and Redbook on Tuesday.
Japan's GDP, Australia's Westpac consumer confidence, Germany's producer prices, ECB's meeting, U.K. MPC vote outcome, Swiss ZEW investor sentiment, Canada's wholesales trade and FOMC minutes on Wednesday.
Australia's consumer inflation expectation, Japan's Nomural/JMMA Mfg PMI, New Zealand's budget cash balance, Japan's all industry activity, Germany's and eurozone Markit comp., service and manufacturing flash PMI respectively, U.K. retail sales, CBI trend trade, U.S. initial jobless claims, Chicago Fed actively index, Philly Fed business index and existing home sales on Thursday.
Japan's Tankan DI, China's CB leading economic index, Bank of Japan monetary policy statement and press conference, Germany's GDP, Ifo business climate, U.K. PSNCR, U.S. CPI, Canada's CPI and retail sales on Friday.
AceTraderFx May 18: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
18 May 2015 08:07GMT
EUR/USD - ..... Despite a brief rise to 1.1447 at European open, renewed selling interest emerged after comments from ECB executive board member Yves Mersch (see our previous MMN) and price tanked below 1.1400 level to 1.1380 before stabilizing.
At the moment, offers are building up at 1.1405/10 and then 1.1415/20 with mixture of offer and stops at 1.1440-50.
On the downside, bids from various accounts are tipped at 1.1350-40 with stops located further out below 1.1320.
More on ECB executive board member Yves Mersch previous comments:
'success of asset purchase programme depends on its full implementation.'
'need to maintain pace, volume of intervention so inflation rises towards 2 percent and monetary policy begins to normalize.'
AceTraderFx May 18: Daily Recommendations on Major - USD/JPY
DAILY MARKET OUTLOOK
Update Time: 18 May 2015 08:14 GMT
USD/JPY - 119.72
Despite dollar's retreat from 119.93 to 119.20 in New York last Friday after release of soft U.S. economic data, intra-day rebound on renewed broad-based strength in the greenback suggests further choppy trading inside recent early 8-week long broad range of 122.03-118.33.
Would continue and upside bias is seen for a re-test of 119.93, break would extend erratic rise from last Thursday's 2-week trough at 118.88 to 120.03 and then 120.27 but daily resistance at 120.51 should remain intact.
On the downside, only below 119.20/27 would dampen this mildly bullish scenario and shift risk to downside for subsequent weakness towards 118.88.
AceTraderFx May 19: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 19 May 2015 00:47 GMT
EUR/USD - 1.1318
Euro's sell off from 1.1447 to 1.1229 on Monday signals erratic upmove from March's 12-year trough at 1.0457 has made a temporary top at last Friday's fresh 3-month peak at 1.1467 and as long as 1.1366/70 holds.
Choppy trading with downside bias remains for another corrective fall to 1.1255/65 later, however, reckon support at 1.1202 (last Wednesday low) would contain weakness and bring rebound later.
On the upside, only a move back above 1.1420/27 would indicate correction over instead, yield gain to 1.1447 and then re-test of 1.1467.