Intraday trading signal - page 187
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AceTraderFx Aug 20: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
20 Aug 2015 09:35GMT
GBP/USD - ..... Sterling falls broadly in Europe after initial knee-jerk reaction following release of key U.K. retail sales data. Reuters later reported British retail sales rose by less than expected in July, hit by a fall in the sales of auto fuels, official data showed on ThurSDAY.
Retail sales volumes inched up 0.1% on the month to show 4.2% growth on the year. Economists had expected retail sales to rise 0.4% and for sales to be up 4.4% compared with JulY last year.
Excluding fuel, sales rose 0.4% on the month and 4.3% compared to a year ago, as expected. A 2.6% fall in auto fuel sales was partly offset by a 3.6% rise in the sales of household goods.
The ONS said the sales of household electrical appliances and furniture rose strongly on the month, probably reflecting a pick-up in Britain's housing market.
Retail sales suffered an unexpected dip in June as consumers bought fewer household goods. Britain's economy, which slowed in the first three months of 2015, relies heavily on consumer demand for growth.
A pick-up in wage growth this year and near-zero inflation have helped to restore some of the spending power lost in the years after the financial crisis.
A recent rise in the value of the pound and a renewed plunge in global oil prices have further helped consumers, but BoE officials say they are increasingly looking at domestic price pressures to assess the timing of the first rate hike in more than 7 years.
AceTraderFx Aug 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time:21 Aug 201501:51 GMT
EUR/USD - 1.1247
Euro's rise above last Wednesday's 1-month high at 1.1214 to 1.1245 yesterday, then intra-day breach of this level on dollar's broad-based weakness on fading expectations of Federal Reserve rate hike in September suggests consolidation with upside bias remains and further gain towards 1.1279/80 would be seen.
Having said that over bought condition would prevent sharp move beyond there and reckon resistance at 1.1319 would remain intact today and yield a much-needed correction.
On the downside, only below 1.1183 would be the first sign that a temporary top has been made and yield stronger retracement towards 1.1149/50.
AceTraderFx Aug 21: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
21 Aug 2015 02:16GMT
USD/JPY - ..... Dlr languishes near a 3-week low of 123.21 in nervous Tokyo trading on Friday. Traders reported 'heavy' volumes changed hand in NY session, knocking the pair from 123.94 to 123.33 near NY close.
Despite a minor short-covering bounce to 123.50 at Asian open, broad-based selloff in Asian stocks (Nikkie currently down nearly 2%) has prompted yen-buying on risk aversion, suggesting dlr would remain under pressure and extend recent decline toward chart sup at 123.01 where fairly large stops are touted below there.
Therefore, selling the pair on recovery is the way to go with offers tipped at 123.50, then 123.65/70.
Bids are noted at 123.10/00 and stops below there.
AceTraderFx Aug 21: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
21 Aug 2015 04:12GMT
GBP/USD - 1.5687... Despite yesterday's sell-off to 1.5606 in European morning after the release of downbeat UK retail sales, the British pound swiftly pared its losses and rebounded to 1.5695 in NY morning before edging up to 1.5700 and NY closing.
Having said that, cable has continued to trade under pressure in Asian morning, due partly to cross-selling of sterling vs euro.
UK will release its PSNB and PSNCR figures at 08:30GMT, however, one shoudd keep an eye on the eur/gbp cross, which should influence price movements as EZ will see a slew of manufacturing PMIs released today.
Bids are now seen at 1.5660/70 and more below at 1.5640/50 with stops building up below there whilst initial offers are noted at 1.5715/20, suggesting choppy trading is envisaged till European open.
AceTraderFx Aug 21: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 21 Aug 201508:11 GMT
USD/JPY - 122.95
The greenback's intra-day sell-off as the global stock sell-off triggered risk aversion suggests decline from August's 2-month peak at 125.28 to retrace upmove from July's low at 120.42 remains in progress and consolidation with downside bias remains for weakness towards 122.28/30.
However, over sold condition would prevent steep fall beyond there and reckon support at 121.84 should remain intact and yield correction.
On the upside, only above 123.33 would indicate a temporary low has been made and yield stronger retracement towards 123.69/70.
AceTraderFx Aug 21: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
21 Aug 2015 9:00GMT
USD/JPY- ...... The greenback met renewed selling interest at 123.49 at Asian open as the sell-off in Nikkei and other Asian stocks triggered broad-based risk aversion and price tumbled to 122.81 in Asian morning and continued to remain under pressure in early European trading.
Offers are now seen at 123.10/20 and more above at 123.30/40 with stops building up above there whilst initial bids are noted at 122.60/70, suggesting selling on pullback is favored.
AceTraderFx Aug 24: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 24 Aug 2015 01:09 GMT
EUR/USD- 1.1397
As euro continues to trade with a firm undertone after intra-day breach of Friday's 1-1/2 month peak at 1.1389 as fading expectations of a Federal Reserve rate hike in September triggered broad-based dollar weakness, suggesting consolidation with upside bias remains and further gain towards 1.1440/50 would be seen.
However, near term loss of momentum would prevent strong rise above there and reckon resistance at 1.1467/70 should remain intact and yield correction.
On the downside, only below 1.1307 would indicate a temporary top has been made and risk stronger retracement towards 1.1240/41.
AceTraderFx Aug 24: Intra-Day News and Views (EUR/USD) & data to be released today
Intra-day Market Moving News and Views
24 Aug 2015 00:45GMT
EUR/USD - .... Euro pares Friday's spectacular gain after rallying from 1.1241 (Europe) to as high as 1.1389 near NY close as sell-off in global stocks (Dow suffered its largest 1-day decline in nearly 4 years n closed near the day's low) had prompted more unwinding of previously established short euro positions.
The single currency climbed marginally to a 2-month high of 1.1395 as intra-day cross-inspired selloff in dlr/yen n commodity currencies sparked off a fresh round of USD's broad-based weakness.
However, lack of follow-through buying quickly pushed price lower to 1.1370 at Asian open.
As euro was the strongest ccy vs its G7 peers on Friday, this tend is expected to continue in Monday trading, so buying the pair on intra-day retreat in anticipation of a resumption of recent up-move is the way to go. Buying interest is noted at 1.1360-50 and more below with stops touted below 1.1300, some offers are tipped at 1.1390/00.
The only economic releases are Germany Jul import price index and industrial production at 06:00GMT.
So best to pay attention to performance of Asian & European bourses as further weakness (2% plus) is likely to trigger more euro buying.
Data to be released this week:
Japan leading indicators, and Germany import price on Monday. In addition, Federal Reserve Bank of Atlanta President Dennis Lockhart will speak on "Pensions and Economy" before the 2015 Public Pension Funding Forum co-hosted by the National Conference On Public Employee Retirement System.
Germany GDP, Ifo reports, UK BBA mortgage approvals, U.S. existing home sales, consumer confidence, new home sales and Redbook on Tuesday.
New Zealand trade balance, Australia CB leading indicator, UK nationwide house prices, CBI distributive trades, and U.S. durable goods orders on Wednesday.
Australia building capex, capital expenditure, France business climate, Switzerland industrial orders, and U.S. pending home sales on Thursday.
UK Gfk consumer confidence, Japan all household spending, CPI, retail sales, Switzerland GDP, France producer prices, Italy business confidence, consumer confidence, U.K. GDP (second release), Italy wage inflation, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, Germany CPI, HICP, Canada producer prices, and U.S. consumption, PCE, personal income, personal consumption, on Friday.
AceTraderFx Aug 24: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
24 Aug 2015 03:53GMT
GBP/USD - ......Despite rising to 1.5698 in Australia, the British pound met renewed selling interest due to active cross-selling in sterling vs euro and retreated to 1.5661 at Asian open.
However, broad-based sell-off in Asian stocks triggered dlr weakness and cable staged a rebound to 1.5685 in Asian morning.
Since there is no major eco. data out today, price is likely to track euro's intra-day movements till European open. Having said that, one should keep a keen eye on the eur/gbp cross too.
Bids are now seen at 1.5660/65 and more below at 1.5630/40 with stops building up below 1.5600 whilst initial offers are noted at 1.5720/30.
AceTraderFx Aug 21: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 24 Aug 2015 08:21 GMT
USD/JPY - 120.31
As the greenback continues to ratchet lower on active buying of the Japanese currency on risk aversion due to global sell-off in equities, suggesting the decline from June's near 13-year peak at 125.86 remains in progress and consolidation with downside bias would be seen for weakness towards 119.80/85.
However, over sold condition would prevent steep fall below there and reckon support at 119.48/50 would remain intact and yield a much-needed correction later this week.
On the upside, only above resistance at 121.82 would confirm a temporary low has been made and yield stronger retracement towards 122.06 but 122.37 should hold and bring another retreat later.