Intraday trading signal - page 196
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AceTraderFx Sept 23: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
23 Sep 2015 00:20GMT
USD/JPY - ...... The greenback met renewed selling pressure at 120.54 ahead of European open yesterday and tanked to session low at 119.69 in European morning. However, price pared its losses and rebounded to 120.18 before easing in New York afternoon. Dlr found renewed support ahead of Asian open at 119.99 and ratcheted higher to 120.33 in Asian morning in thin trading conditions as Japanese markets remained closed for a 3rd consecutive day.
Investors are now looking ahead to the next key mkt mover, Fed Chair Yellen's speech on Thursday in Amherst, Massachusetts, on 'Inflation Dynamics and Monetary Policy'. Traders will be paying attention to the language used by Yellen for hints on when the central bank wud begin its rate liftoff (later this year or earlier next year).
Bids have now been raised to 120.00/10 and more below at 119.80/90 with stops building up below 119.70 whilst initial offers are noted at 120.70/80, suggesting buying on dips is still the favored strategy.
AceTraderFx Sept 23: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
23 Sep 2015 01:34GMT
GBP/USD - ...... Although the British pound finally gained some respite after yesterday's selloff to 1.5341 and recovered to 1.5383 in New York afternoon, price met renewed selling there and fell again to 1.5343 at Asian open and continues to remain under pressure.
Cable's selloff yesterday was attributed to a report, which showed UK's deteriorated unexpectedly to their lowest level in 3 years.
Britain's headline measure of public borrowing rose to 12.1 billion pounds ($18.7 billion) in August from 10.7 billion pounds a year earlier, the Office for National Statistics said. Forecasts were it would narrow to 9 billion pounds.
Since there is no eco. data due today, price is likely to follow euro's intra-day movements.
However, one should keep an eye on the EUR/GBP cross, especially during Draghi's speech later today.
Offers have now been lowered to 1.5370/80 and more above at 1.5390/00 with stops building up above there whilst initial bids are noted at 1.5300/10, suggesting selling on pullback is still favored.
AceTraderFx Sept 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 23 Sep 2015 02:00 GMT
EUR/USD - 1.1112
Euro's selloff on Tuesday below Monday's low at 1.1181 confirms the recent erratic uptrend from September's low at 1.1087 has formed a temporary top at Friday's 3-week peak at 1.1460 and consolidation with downside bias would be seen ahead of ECB President Mario Draghi's speech later today, below 1.1087 would signal the decline from August's peak at 1.1715 has resumed and extend weakness towards 1.1018 later this week.
On the upside, only above 1.1208 would indicate a temporary low has been made and turn outlook bullish for a stronger retracement towards 1.1268/70.
AceTraderFx Sept 23: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
23 Sep 2015 05:00GMT
USD/JPY - ..... Dlr languishes just above intra-day 119.66 low after a roller-coaster Asian morning session. Despite initial brief blip up to Asian high of 120.33 as traders bot the greenback broadly at Asian open following comments reported on Bloomberg by Atlanta Fed Dennis Lockhart who said in a Q&A session, he is comfortable the idea of a Fed rate hike this year and feels very close to timing for such a move.
The pair then plummeted to session lows of 119.66 due to active broad-based buying of yen on risk aversion after China mfg PMI came in much lower than expectation, September flash reading came in at 47.0 vs street forecast of 47.5 (a 6-1/s year low), the data sparked off a wave of selloff in Asian stocks (Nikkei futures currently down by 600 points, Hang Seng down by almost 3% and Shanghai Composite down 2%).
Pay attention to performance of European shares which are expected to open lower, further sustained weakness would attract more yen-buying. Offers are tipped at 119.90/00 and more above with stops reported above 120.35.
Some bids are noted at 119.65-55 with stops below 119.40.
There is market chatter of fairly large stops building below last Friday's bottom at 119.06.
AceTraderFx Sept 23: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 23 Sep 2015 08:14 GMT
USD/JPY - 120.29
Despite greenback's selloff to 119.06 in last Friday's European session, subsequent intra-day rally to 120.04 near New York close confirms signals price would continue to gyrate inside recent broad range of 116.15-121.74 and near term upside bias is seen for gain towards 121.00 but resistance at 121.34 (Sep 10 high) should hold on 1st testing.
On the downside, only below 119.40 would shift risk to downside for a re-test of 119.06, break would extend weakness towards 118.60 before prospect of a rebound.
AceTraderFx Sept 23: Intra-day Market Moving News and Views (USD/CHF)
Intra-day Market Moving News and Views
23 Sep 2015 08:30 GMT
USD/CHF - .... News from Reuters:
Swiss EconMin says 'clear that Switzerland remains attractive place to do business;
have to act now to address gradual de-industrialisation;
not in an economic crisis, no recession but full brakes on economy;
weaker corporate margins hurt ability to invest in innovation;
national bank is independent;
SNB has trust of the government;
recognises SNB is working towards purchasing power parity for franc; purchasing power parity is well above 1.20 franc per euro;
strg franc endangers price stability eurchf;
sees certain risk of deflation;
important that control of currency remains with SNB;
can take some time for franc to reach purchasing power parity.'
AceTraderFx Sept 24: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
24 Sep 2015 00:20GMT
USD/JPY - ...... Despite dlr's strong rebound from yesterday's low at 119.63 to 120.55 in New York morning, price met renewed selling below Monday's low at 120.66 n retreated to 120.05 before stabilising.
The greenback trades narrowly at Asian open as Japanese traders return from a 3-day market holiday.
Expect intra-day sideways move inside 120.55-55 as today's market's main focus is on Fed Chair Janet Yellen's speech right at NY close at 21:00GMT in Amherst, Massachusetts, on 'Inflation Dynamics and Monetary Policy'.
Traders will be paying attention to the language used by Yellen for hints on when the central bank would begin its rate liftoff (later this year or earlier next year).
Until then, pay attention to intra-day performance of the Nikkei and Asian stocks as renewed weakness may trigger another round of yen-buying on risk aversion.
Bids are noted at 120.00/10 and more below at 119.70/80 with stops building up below 119.60 whilst initial offers are seen at 120.80/90.
Data to be released on Thursday:
New Zealand trade reports, Japan manufacturing PMI, all industry activity index, UK Nationwide housing price, mortgage approvals, Germany Gfk consumer confidence survey, IFO reports, euro zone target LTRO, Italy industrial orders, retail sales, U.S. jobless claims, durable goods orders, new home sales, Chicago Fed national activity index.
AceTraderFx Sept 24: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
24 Sep 2015 01:00GMT
GBP/USD - ..... The British pound gained no repite on Wednesday and met renewed selling at 1.5364 in early European morning, price fell sharply to intra-day low at 1.5221 in New York morning, due partly to active cross-selling of strong especially vs euro.
Cable staged a brief rebound but 1.5264 has capped upside and brought another retreat.
The only U.K. data due from UK today is BBA mortgage approvals, price is likely to remain influenced by the eur/gbp cross, hence investors should keep a keen eye on it.
Offers have now been lowered to 1.5260/70 and more below at 1.5290/00 with stops building up above there whilst initial bids are noted at 1.5200/10, suggesting selling for a resumption of recent downtrend is still favoured.
AceTraderFx Sept 24: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 24 Sep 201500:43 GMT
EUR/USD - 1.1185
Despite euro's selloff on Tuesday below Monday's low at 1.1181 to 1.1105, subsequent rebound on ECB Draghi's less dovish comments suggests the pullback from last Friday's high at 1.1460 has ended there and consolidation with upside bias would be seen, above 1.1268 would add credence to this view and extend gain towards 1.1330.
However, resistance at 1.1373 should remain intact this week and yield retreat later.
On the downside, only below 1.1105 would revive bearishness for a re-test of September's trough at 1.1087, break would confirm the erratic decline from August's peak at 1.1715 has resumed and extend to 1.1018.
AceTraderFx Sept 25: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
25 Sep 2015 01:16GMT
USD/JPY - ..... Although the pair is currently around the same rate it was trading at this time yesterday, price actually tumbled to as low as 119.21 in NewYork morning due to intra-day broad-based usd's selling which started in Asian morning and throughout European session.
However, the greenback regained composure ahead of European close and rallied broadly ahead of the much-awaited Fed chair Janet Yellen's speech to 120.08. Price then climbed to 120.36 when Yellen's prepared speech was released.
Dlr has maintained a firm undertone in Tojyo morning after edging marginally higher to 120.38, however, as Nikkei has just moved back to negative territory, consolidation is likely to be in store before prospect of further rise but recent broad range trading should continue.
Offers are tipped at 120.45/55 and more above with stops touted above 121.00.
Initial bids are noted at 120.10-00 and more below with stops reported below 119.80. Therefore, buying dlr on dips is recommended.
Data to be released on Friday:
Japan inflation reports, CSPI, Italy wage inflation, France consumer confidence, U.S. GDP, personal consumption expenditures, Markit Service PMI and University of Michigan consumer sentiment index on Friday.