Intraday trading signal - page 199
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AceTraderFx Oct 5: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 05 Oct 2015 01:18 GMT
EUR/USD - 1.1225
Although price has retreated after Friday's rally to 1.1319 and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1319, break would yield stronger retracement of decline from 1.1459 towards 1.1330.
However, near term loss of momentum would keep price well below 1.1390 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
AceTraderFx Oct 5: Intra-day Market Moving News and Views (GBP/USD)
Intra-Day Market Moving News and Views
05 Oct 2015 09:00GMT
GBP/USD - ...... Although the British pound edged higher in tandem with euro in Asia and rose fm 1.5168 to 1.5245 in European morning, release of downbeat UK service PMI data knocked price down sharply to 1.5172 before recovering.
The Chartered Institute of Purchasing & Supply and the NTC Economics said that U.K. Services PMI fell to a seasonally adjusted annual rate of 53.3 in September, from 55.6 in the preceding month.
At present, offers are reported at 1.5200-10 and more around 1.5220 with mixture of offers and stops at 1.5240-50.
On the downside, bids are noted at 1.5160-50 and then 1.5130-20 with stop just below last Wed's 4-1/2 month trough at 1.5107.
AceTraderFx Oct 5: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 05 Oct 2015 08:21 GMT
USD/JPY - 120.10
Despite Friday's swift selloff from 120.41 to 118.68 after the release of disappointing U.S. jobs report, subsequent strong rebound due to the rally in Dow Jones suggests further choppy trading above September's low at 118.60 would continue with mild upside bias and above 120.41 would yield stronger gain to 120.66/70.
However, near term loss of momentum would keep price below resistance at 120.99.
On the downside, only below 119.21 would abort daily bullishness on the buck and turn outlook bearish for weakness towards 118.60/68 area.
AceTraderFx Oct 6: Intra-day Market Moving News & Data to be released today (USD/JPY)
Intra-Day Market Moving News and Views
06 Oct 2015 00:40GMT
USD/JPY- ...... The greenback opened slightly higher in New Zealand yesterday and continued to trade with a firm bias throughout Australia and Asia. Dlr gained to 120.31 in European morning and ratcheted higher to session high at 120.55 in New York afternoon, helped by the rise in U.S. equities.
Price is trading with a firm undertone in Tokyo morning as Nikkei-225 is currently up by 300+ points.
There is no major eco. data to be released from U.S. today, however, investors should keep an eye on headlines from Fed William's speech at 21:00GMT. Though it is safe to assume the Fed won't raise rates anytime soon, in light of recent disappointing jobs report, the central banker should drop hints on if the Fed can raise rates before the end of the year.
Bids are now seen at 120.10/20 and more below at 119.80/90 with stops building up below there whilst initial offers are noted at 120.70/80, suggesting buying on dips is favored.
Data to be released on Tuesday:
New Zealand business confidence, Australia Westpac consumer confidence, imports, exports and trade balance, RBA rate decision and statement, Germany factory orders, U.K. Halifax house prices, Switzerland CPI, U.S. trade balance, Redbook, and Canada trade reports.
AceTraderFx Oct 6: Intra-day Market Moving News and Views (EUR/USD)
Intra-Day Market Moving News and Views
06 Oct 2015 01:31GMT
EUR/USD - ...... Despite initial strong rebound to session high at 1.1289 in European morning, failure to penetrate Friday's high at 1.1319 triggered another wave of selling n the single currency dropped to 1.1174 in New York. Euro met renewed selling at 1.1198 at Asian open n fell further to 1.1172 in Asian morning before stabilising.
Pay attention to the release of German factory orders m/m at 06:00GMT.
Street forecast is of 0.5% vs previous reading of -1.4%. ECB's Draghi is also scheduled to speak later today at 17:00GMT.
Traders will be looking to the language used by the President in terms of further easing the central bank might provide and when (if so).
Offers have now been lowered to 1.1200/10 and more above at 1.1230/40 with stops building up above there whilst initial bids are noted at 1.1140/50, suggesting selling on recovery is the way to go.
AceTraderFx Oct 6: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 06 Oct 2015 01:21 GMT
EUR/USD - 1.1180
Although price has retreated after Friday's rally to 1.1319 and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1319, break would yield stronger retracement of decline from 1.1459 towards 1.1330.
However, near term loss of momentum would keep price well below 1.1390 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
AceTraderFx Oct 6: Intra-day Market Moving News and Views (EUR/USD)
Intra-Day Market Moving News and Views
06 Oct 2015 06:30GMT
EUR/USD - ..... Euro remains under pressure in early European trading after downbeat German data. Reuters reported German industrial orders dropped unexpectedly in August due mainly to weaker demand from non-euro zone countries plus the effect of holidays, the economy ministry said on Tuesday.
Contracts for 'Made in Germany' goods were down by 1.8 percent on the month, the data showed, compared with a Reuters consensus forecast for a rise of 0.5 percent.
German factories received 1.2 percent fewer bookings from abroad, driven by a 3.7 percent slide from in demand from non-euro zone countries, while domestic orders fell by 2.6 percent.
The data for July was revised down to a 2.2 percent drop from an originally reported 1.4 percent declinE.
Yesterday despite initial strong rebound to session high at 1.1289 in European morning, failure to penetrate Friday's high at 1.1319 triggered another wave of selling n the single currency dropped to 1.1174 in New York. Euro met renewed selling at 1.1198 at Asian open n fell further to 1.1172 in Asian morning before stabilising.
Today pay attention to the release of German factory orders m/m at 06:00GMT.
Street forecast is of 0.5% vs previous reading of -1.4%. ECB's Draghi is also scheduled to speak later today at 17:00GMT.
Traders will be looking to the language used by the President in terms of further easing the central bank might provide and when (if so).
AceTraderFx Oct 6: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time:06 Oct 2015 08:14 GMT
USD/JPY - 120.25
Despite Friday's swift selloff from 120.41 to 118.68 after the release of disappointing U.S. jobs report, subsequent strong rebound due to the rally in Dow Jones suggests further choppy trading above September's low at 118.60 would continue with mild upside bias and above 120.41 would yield stronger gain to 120.66/70.
However, near term loss of momentum would keep price below resistance at 120.99.
On the downside, only below 119.21 would abort daily bullishness on the buck and turn outlook bearish for weakness towards 118.60/68 area.
AceTraderFx Oct 7: Intra-day Market Moving News & ata to be released today (USD/JPY)
Intra-Day Market Moving News and Views
07 Oct 2015 00:47GMT
USD/JPY - ...... The greenback met renewed selling at 120.57 in Asian morning yesterday and retreated to 120.12 b4 staging a rebound. However, price came under renewed pressure and dropped marginally below to session low at 120.11 at New York midday. Later, dlr pared its losses n gained to 120.38 in New York afternoon and continues to remain well bid at Tokyo open.
Market attention is now on BoJ's rate decision around 03:00GMT. Although it is widely expected there won't be any new monetary decisions made today, the central bank has come under pressure from the government to provide additional stimulus for the economy. Hence, investors should pay attention to Governor Kuroda's press conference at 06:30GMT, as he may drop hints about his plans considering QE.
Bids are now seen at 119.90/00 and more below at 119.70/80 with stops building up below there whilst initial offers are noted at 120.50/60, suggesting choppy trading would be seen ahead of BoJ's rate decision.
Data to be released on Wednesday:
Japan BoJ rate decision, BoJ monetary policy statement, BoJ governor Kuroda press conference, leading economic index, Australia HIA new home sales, Germany industrial production, France exports, imports and trade balance, ECB's non-monetary policy's meeting, UK industrial production, manufacturing production; NIESR GDP estimate, Canada building permits
AceTraderFx Oct 7: BOJ maintained its optimistic view
07 Oct 2015 03:10GMT
USD/JPY - ..... Reuters later reported the BoJ held off on expanding stimulus on Wednesday, even as slumping exports and falling oil prices threaten its rosy projection that the economy is on track to hit its ambitious 2% inflation target next year.
But lingering fears of recession will keep the central bank under pressure to ease at a more crucial meeting on Oct. 30, when it is expected to cut its long-term economic and price forecasts, analysts say.
For now, the BOJ maintained its optimistic view that while exports and output have been hurt by slowing emerging market growth, Japan's economy continues to recover moderately.
Japan's economy shrank in April-June and some analysts expect another contraction in July-September on slumping global demand and weak consumption.
Core consumer prices slid in August to mark the first annual drop since the BOJ deployed its massive stimulus programme more than 2 years ago, casting doubt on whether heavy money printing alone can accelerate inflation to 2%.
BOJ Governor Haruhiko Kuroda may struggle to convince markets at his post-meeting news conference that the economy can emerge from the doldrums without additional monetary support, analysts say.
In a semi-annual review of its forecasts on October 30, the BOJ is set to slash its economic growth forecasts and push back the timing for achieving its price target, sources say.
The BOJ now expects inflation to hit 2% by around September next year, a forecast many analysts criticise as too ambitious.