Intraday trading signal - page 230
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AceTraderFx Feb 3: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 03 Feb 2016 04:13 GMT
EUR/USD - 1.0925
Despite the single currency's selloff from last Thursday's high at 1.0968 to 1.0810 on Friday, subsequent rebound suggests further choppy trading inside recently established range of 1.0985-1.0776 would continue with mild upside bias and marginal gain from here is likely.
However, indicated upper level should remain intact and bring another retreat later today.
On the downside, only below 1.0810 would revive bearishness for weakness towards aforesaid lower level, break would retain bearishness for weakness to 1.0740/50.
AceTraderFx Feb 4: Intra-Day Market Moving News and Views- EUR/USD
Intra-Day Market Moving News and Views
04 Feb 2016 01:30GMT
EUR/USD - ....... The single currency was also supported yesterday from an increase in EU retail sales. Euro zone retail trade increased in December mostly thanks to Christmas shopping of food, drinks and tobacco, the European Union statistics office Eurostat estimated on Wednesday.
Sales in the 19 countries sharing the euro grew on average 0.3% in December on a monthly basis, as expected by economists polled by Reuters.
Retail trade increased 1.4% year-on-year, slightly less than the forecast 1.5%.
Eurostat revised upwards both monthly and yearly estimates for the month of November. Month-on-month euro zone sales have been flat in November, contrary to previous estimates of a 0.3% drop. Year-on-year sales recorded in November a 1.6% rise, more than the previously estimated 1.4%.
The greenback tumbled against majority of its peers yesterday as New York Fed President William warned of tightening financial conditions.
Reuters reported, in an interview with MNI, Williams said financial conditions have tightened considerably in the weeks since the U.S. Federal Reserve raised interest rates and monetary policy makers will have to take that into consideration should that phenomenon persist.
AceTraderFx Feb 4: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views
04 Feb 2016 02:23GMT
USD/JPY - ....... The greenback met renewed selling at 120.05 in early European morning yesterday and tumbled to 117.51 in New York morning, as comments from Fed's Dudley overshadowed the upbeat U.S. ADP jobs report.
Intra-day decliner accelerated and price dropped to session low at 117.06 in New York afternoon, however, price pared its losses and staged a short-covering rebound to 118.24 ahead of Tokyo open before retreating again.
Pay attention to the release of U.S. jobless claims at 13:30GMT.
Street forecast is for a slight increase to 280K from previous reading of 278K.
Offers are now seen at 118.10/20 and more above at 118.40/50 with stops building up above there whilst initial bids are noted at 117.20/30, suggesting selling for a resumption of recent downtrend is favored.
AceTraderFx Feb 4: Intra-Day Market Moving News and Views- EUR/USD
Intra-Day Market Moving News and Views
04 Feb 2016 03:20GMT
GBP/USD - ......The British pound surged from European low at 1.4385 to a fresh near 1-month high at 1.4649 in New York afternoon on dlr's broad-based selloff.
Later, price pared its gains and retreated to 1.4581 in Asian morning on profit-taking n continues to trade sideways.
Today is BoE's super Thursday n traders are awaiting the release of BoE's minutes n inflation report at 12:00GMT.
It is widely expected that the central bank will keep its policy unchanged but investors will look for hints in the 2 reports for any forward guidance from the bank.
Bids are now seen at 1.4550/60 and more below at 1.4530/40 with stops building up below there whilst initial offers are noted at 1.4330/40, suggesting choppy trading would be seen ahead of European open.
AceTraderFx Feb 4: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 04 Feb 2016 05:01 GMT
EUR/USD - 1.1085
The single currency's rally above December's peak at 1.1060 to as high as 1.1145 yesterday on dollar's broad-based selloff signals the erratic upmove from December's low at 1.0523 has once again resumed and consolidation with upside bias would be seen for further gain towards 1.1170/80.
However, near term loss of momentum would keep price well below 1.1224 and yield a much-needed correction later.
On the downside, only below 1.0985 (previous resistance) would confirm a temporary top has been made and risk stronger retracement towards 1.0940.
AceTraderFx Feb 4: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 04 Feb 2016 08:35 GMT
USD/JPY - 117.76
The greenback's sharp selloff to as low as 117.06 yesterday on dollar-negative comments from New York Fed President William Dudley confirms recent upmove has formed a temporary top at last Friday's 1-month peak at 121.70 and consolidation with downside bias would be seen for weakness towards 116.69/70.,
However, over sold condition would prevent steep fall below there and reckon price would hold well above support at 115.97.
On the upside, only above 119.01 would indicate aforesaid correction has ended and turn outlook bullish for stronger gain to 119.40/50.
AceTraderFx Feb 5: Intra-Day News and Views (AUD/USD) & data to be released today
Intra-Day Market Moving News and Views
05 Feb 2016 01:11GMT
AUD/USD- ..... The RBA just released its Monetary Policy Statement, Reuters reported Australia's central bank sees sub-trend economic growth and tame inflation in the year ahead, but said any cut in interest rates will depend on whether the labour market deteriorated and if recent financial market turbulence pointed to a weaker global economy.
In its 66-page quarterly report on monetary policy released on Friday, the Reserve Bank of Australia (RBA) highlighted the surprising strength of the labour market which led it to cut forecasts for the jobless rate.
The past decline in the local dollar had also been a key support for the economy, particularly service exports ? a trend it expects will continue. It reiterated that continued low inflation would provide scope for further rate cuts, should that be needed to support demand.
At its first policy review for 2016 on Feb. 2, the RBA left the cash rate unchanged at a record low 2.0 percent, where it has been since May last year.
Data to be released on Friday:
Australia retail sales, Germany factory orders, France imports, exports, trade balance, U.S. unemployment rate, non-farm payroll, average earnings, private payrolls, manufacturing payrolls, participation rate, trade balance, Canada imports, exports, international balance, participation rate, net change in employment and Ivey PMI.
AceTraderFx Feb 5: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views
05 Feb 2016 02:31GMT
USD/JPY - ...... Although dlr 'jumped' from 118.52 to 121.42 last Friday after surprise BoJ's negative rate policy, then to 121.70 in New York, the pair fell sharply this week to as low as 116.53 yesterday.
Reuters reported earlier just days before the Bank of Japan stunned financial markets with its radical adoption of negative interest rates, members of the central bank's own policy board had also been taken by surprise by the move.
Most of the nine board members were only told of the scheme in the week leading up to last Friday's rate review, according to interviews with more than a dozen officials familiar with the deliberations.
The startling speed and secrecy with which such a major policy shift was executed suggest its intent was more about delivering a shock to markets that would weaken the yen, than about maximising the stimulative impact of further easing.
That would be in keeping with the single-minded style of central bank Governor Haruhiko Kuroda, people who know him well or have worked with him say, but could risk entrenching divisions between BOJ policymakers.
AceTraderFx Feb 5: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 05 Feb 2016 08:32 GMT
USD/JPY - 116.92
The greenback's sharp selloff to as low as 116.53 yesterday on dollar's broad-based selloff confirms recent upmove has formed a temporary top at last Friday's 1-month peak at 121.70 and consolidation with downside bias would be seen for weakness towards 116.10/20, however, over sold condition would prevent steep fall below there and reckon price would hold well above support at 115.97.
On the upside, only above 119.01 would indicate aforesaid correction has ended and turn outlook bullish for stronger gain to 119.40/50.
AceTraderFx Feb 11: Daily Outlook (USD/JPY) & data to be released today
11 Feb 2016 00:02GMT
DAILY USD/JPY OUTLOOK - 113.58
Dlr's intra-day selloff below Tuesday's 114.21 low (now res) to a fresh 15-month trough of 13.12 after Fed Yellen's testimony suggests MT fall from 2015 top at 125.86 would resume towards 112.85 after consolidation, 'loss of momentum' should keep dlr above 112.45.
Lower short entry for 113.00 1st and only a daily close above 114.21 signals temp. low made, 115.00.
Data to be released on Thursday:
New Zealand manufacturing PMI, Japan machine tool order, Swiss CPI, U.K. housing survey, U.S. initial jobless claims and Canada new housing price index.