Intraday trading signal - page 162
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AceTraderFx May 22: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 22 May 201501:23 GMT
EUR/USD - 1.1122
Euro's erratic rise from Wednesday's low at 1.1062 to as high as 1.1181 in Europe yesterday signals decline from last Friday's 3-month peak at 1.1467 has made a temporary low there and despite subsequent intra-day retreat in New York session, reckon price would hold above said support and bring another corrective bounce later, above 1.1181 would extend gain to 1.1217 later.
On the downside, only below 1.1062 would extend aforesaid fall to retrace the entire upmove from March's 12-year trough at 1.0457 towards 1.0962 next week.
AceTraderFx May 22: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
22 May 2015 02:29GMT
USD/JPY- ...... Dlr edged lower in Tokyo morning on Friday after meeting renewed selling at 121.09 at Asian open as a string of downbeat U.S. data Thursday added to concerns over the strength of the U.S. economy.
The main event in Asian session today is the announcement of latest BoJ views on monetary policy. BoJ is widely to stand pat on its policy after its 2-day board meeting around 03:30-04:30GMT.
After that, BoJ Governor Haruhiko Kuroda will hold a news conference at 06:30GMT to explain the board's decision.
Until then, choppy sideways trading around 121.00 level is likely to be seen.
In NY session, focus will be on U.S. inflation reports n the speech of Federal Reserve Chair Janet Yellen. The headline CPI is expected to rise 0.1% in April compare to 0.2% gain a month earlier. Yellen is scheduled to speak on the U.S. economic outlook before the Greater Providence Chamber of Commerce Economic Outlook Luncheon.
At present, stops located just below 120.80 are in focus. Having said that, buying interest from various accounts is tipped at 120.70-50 region with mixture of bids and stops at 120.20-10.
On the upside, offers are placed at 121.10/15 and around 121.30 with stops building up just above 121.48 (Wednesday's post-FOMC minutes high).
Friday will see the release of 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. Investors are awaiting a speech on Friday by Fed Chair Janet Yellen to have any indication of the timing of interest rates hike.
AceTraderFx May 22: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
22 May 2015 07:47GMT
USD/JPY -...... Although dlr has remained under pressure n then fell to 120.64 in European morning after release of unchanged BoJ monetary policy decision in Asia and then comments from BoJ Kuroda (see our prev. MMN), cross-selling in yen vs other major ccys limited intra-day losses there and price moved sideways afterwards.
Looks like choppy trading below 121.00 level would be seen ahead of NY open as investors are shifting their focus to the important U.S. inflation data at 12:30GMT.
As mentioned previously, market expects the headline CPI to rise 0.1% in April compare to 0.2% gain a month earlier.
Buying interest from various accounts is reported at 120.60-50 with mixture of bids and stops at 120.20-10.
On the upside, offers are placed 120.90-00 and then 121.10/15 with mixture of offers and stops at 121.30-121.40.
AceTraderFx May 22: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 22 May 201508:34 GMT
USD/JPY - 120.80
Although dollar's rally above daily resistance at 120.84 to 121.49 Wednesday signals an 'upside break' of early 10-week long broad range of 122.03-118.33 has taken place, subsequent retreat to as low as 120.64 today suggests choppy consolidation would be seen.
However, reckon 120.27 (previous resistance, now sup) would hold and bring another up move later.
Above 121.49 would extend gain to 121.67 and then towards 2015 peak at 122.03 (March).
Only a failure to penetrate 122.03 and a daily close below 120.27 would indicate price would remain confined inside aforesaid broad range and yield weakness towards 119.83/93 and then 119.40/50.
AceTraderFx May 26: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOKUpdate Time: 26 May 2015 01:53 GMT
EUR/USD - 1.0936
Despite trading narrowly in holiday-thinned North American session on Monday, euro-bearish news on Greek debt repayment which came out earlier in Australia sent the euro lower at Asian open today to a fresh 3-week low of 1.0931.
this is suggesting the recent decline from May's 3-month peak at 1.1467 would pressure price to 1.0900/10 after consolidation, near term 'loss of momentum' should keep euro above dynamic sup at 1.0843 today (being 61.8% r of 1.0457-1.1457).
On the upside, only above 1.1008/10 res would signal a temporary low is made, yield stronger retracement to 1.1040/43 but 1.1062 (previous sup, now res) should remain intact and yield another decline.
AceTraderFx May 26: Intra-Day News and Views (GBP/USD) & data to be released today
Intra-day Market Moving News and Views
26 May 2015 02:27GMT
GBP/USD- .... Cable languishes above intra-day 2-week low of 1.5432 after falling in tandem with eur/usd at Asian open, triggering stops below 1.5455 and 1.5445 on the way down.
However, sterling's decline is relatively less severe as compared to euro as eur/gbp cross pair is trading near Monday's fresh 2-month low at 0.7073.
Looks like cable would track intra-day swings in eur/usd in European morning as the only U.K. data due out is CBI distributive trades which will be released at 10:00GMT.
Order book is pretty thin due to closure of U.K. markets on Monday for Spring Bank holiday, now, offers are tipped at 1.5460/70 and more above with stops touted at 1.5510.
Some bids are touted at 1.5430-20 with some stops below 1.5390.
Data to be released on Tuesday:
New Zealand's trade balance, U.K. CBI distributive trades, U.S. durable goods, Redbook, monthly house price index, CaseShiller 20 MM, consumer confidence and new home sales.
AceTraderFx May 26: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 26 May 201509:34 GMT
USD/JPY - 122.75
Dollar's intra-day rally above 2015's 8-year peak at 122.03 signals long-term uptrend has once again resumed and consolidation with upside bias remains for further gain towards 123.00/10, then 123.25/27.
However, loss of momentum would prevent steep rise beyond there and reckon resistance at 123.55 would remain intact today and yield a much-needed correction later.
On the downside, only below 122.03 would indicate a temporary top has been made and yield stronger retracement towards 121.78/80 before prospect of a rebound.
AceTraderFx May 27: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 27 May 2015 01:30 GMT
EUR/USD - 1.0867
Euro's sell off below Monday's low at 1.0959 (now resistance) to 1.0863 yesterday signals fall from May's 3-month peak at 1.1467 to retrace erratic upmove from March's 12-year trough at 1.0457 remains in progress and further weakness to 1.0843/49 and then 1.0800 would be seen before rebound occurs due to 'loss of momentum'.
On the upside, only a daily close above 1.0959 (previous support) would indicate a low is possibly made and shift risk to upside for subsequent gain towards 1.1008/10.
AceTraderFx May 27: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
27 May 2015 02:18GMT
USD/JPY - ..... Despite dlr's sideways move after retreating from a fresh near 8-year peak at 123.33 to 122.84 in NY session, price staged a rebound to 123.31 in Tokyo morning following 'hawkish' comments from Richmond Fed President Jeffrey Lacker (see our previouys update) before easing.
As a slew of upbeat U.S. economic data on Tuesday has boosted demand for the greenback, suggesting upside bias remains for dlr's uptrend to resume later today once near term consolidation is over and therefore, buying dlr on dips is the way to go.
At present, bids are noted at 123.00-122.90 with mixture of bids and stops at 122.50-40.
On the upside, offers from Japanese exporters and profit-taking are reported at 123.30-40 and more around 123.60 with real selling interest located at 123.90-00.
Wednesday will see the release of BOJ's meeting minutes, Australia's Westpac leading index, Germany's GfK consumer sentiment, EU financial stability review, Bank of Canada's rate decision and rate statement, U.S. building permits.
AceTraderFx May 27: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 27 May 2015 08:08 GMT
USD/JPY - 123.01
Dollar's rally to a fresh near 8-year peak at 123.33 on Tuesday signals long-term uptrend from 2011 record low at 75.32 has resumed and further gain to 124.14 (2007 top) is envisaged after consolidation
However, loss of momentum should prevent sharp move beyond there and yield retreat later.
On the downside, only a daily close below 122.03 (previous 2015 peak in March, now support) would indicate a temporary top is made instead and shift risk to downside for a retracement to 121.45 (Monday's low).