Intraday trading signal - page 21
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GBP/USD Intra-day signals by AceTrader
INTRA-DAY GBP/USD: 1.4365
Last Update At 26 May 2010 05:57 GMT
Despite falling in tandem with euro just ahead
of European opening to 1.4350, present minor bounce
suggests intra-day decline fm 1.4449 (AUS) has 'pos
sibly' made a low there n abv 1.4395 wud signal the
pullback 1.4449 to retrace y'day's rise has ended.
Exit short n stand aside. Abv 1.4395 wud yield
1.4420/30 whilst below 1.4350 extends to 1.4236.
Range Forecast
1.4350 / 1.4390
Resistance/Support
R: 1.4395/1.4425/1.4449
S: 1.4350/1.4336/1.4306
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Support, Resistance and Range Forecast by AceTrader
INTRA-DAY USD/JPY:
Last Update At 27 May 2010 06:13 GMT
Range Forecast
90.08 / 90.37
Resistance/Support
R: 90.37 / 90.68 / 90.75
S: 90.08 / 89.74 / 89.54
-------------------------------------------------
INTRA-DAY EUR/USD:
Last Update At 27 May 2010 06:37 GMT
Range Forecast
1.2285 / 1.2322
Resistance/Support
R: 1.2322/1.2345/1.2388
S: 1.2253/1.2221/1.2186
-------------------------------------------------
INTRA-DAY USD/CHF:
Last Update At 27 May 2010 06:21 GMT
Range Forecast
1.1513 / 1.1540
Resistance/Support
R: 1.1572/1.1616/1.1642
S: 1.1513/1.1482/1.1450
-------------------------------------------------
INTRA-DAY GBP/USD:
Last Update At 27 May 2010 06:37 GMT
Range Forecast
1.4480 / 1.4529
Resistance/Support
R: 1.4499/1.4529/1.4561
S: 1.4434/1.4381/1.4367
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GBP/USD Daily Market Outlook by AceTrader
INTRA-DAY GBP/USD: 1.4735
Last Update At 11 Jun 2010 06:07 GMT
Although cable has briefly penetrated Asian morn
ing high of 1.4730 after meeting renewed buying abv
initial sup at 1.4695 (AUS), suggesting this week's
erratic rise fm 1.4346 wud yield marginal gain, nr
term 'loss of momentum' wud cap price below 1.4771.
For st trade, sell on further rise n exit on dec
line as below 1.4695 needed to yield 1.4665/75.
Range Forecast
1.4715 / 1.4755
Resistance/Support
R: 1.4744/1.4771/1.4790
S: 1.4695/1.4655/1.4608
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EUR/USD Intra-day signal by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD:1.2185
Late Update At 15 Jun 2010 06:28 GMT
Despite nr term sideways trading after extending
decline fm y'day's high of 1.2298 to 1.2195, reckon
1.2233/35 shud cap upside n yield another fall for
further weakness to 1.2190 n then twds chart sup at
1.2163 later.
Reinstate short on recovery n only abv 1.2270/73
wud risk re-test of said y'day's high.
Range Forecast
1.2170 / 1.2200
Resistance/Support
R: 1.2233/1.2257/1.2298
S: 1.2163/1.2127/1.2091
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Daily Market Outlook by AceTrader
Market Review - 16/06/2010 21:50 GMT
Euro retreats on worries over Spain
Euro fell on Wednesday as renewed worries on the Spanish banking systems prompted investors to sell the single currency. Poor U.S. housing data also pressured euro but rebound in U.S. stocks provided support to euro.
Although the single currency moved narrowly in Asian session due to market holidays in HK, China and Taiwan, euro managed to climb above Tuesday's high of 1.2350 to a marginal high of 1.2354 in European morning. However, the single currency tumbled from there as traders turned short partly due to the widening of spreads in euro zone peripheral bonds and German bunds. Italy/German 10-yr government yield spread once widened to 142 b.p. from 138 b.p. whilst Spain/German yield spread climbed to a lifetime high of 222 b.p., suggesting market woes on Spanish government debt default increased.
The single currency then fell further after the U.S. housing data in May fell more than expected to the lowest level in five months. However, euro rebounded after the release of higher-than-expected U.S. industrial production while rebound in U.S. stocks also helped price. DJI pared all initial losses and ended the day up by 0.05% at 10409 while FTSE 100 rose by 0.39%, CAC 40 jumped by 0.39% and DAX climbed by 0.26%.
In other news, euro was pressured as a Spanish newspaper reported that the EU, IMF and U.S. treasury drew up an emergency credit line for Spain. However, EC Commission denied the report and both French and German officials said Spain's fiscal problems were not on the agenda of Thursday's one-day EU summit in Brussels on fiscal and economic reform. In addition, Spain's central bank would publish results of stress tests on its lenders in the near future to ease investors' worries over the country's banking sector.
Versus the Japanese yen, the greenback climbed to an intra-day high of 91.82 in European morning as firmness in global stocks boosted risk appetite. However, the pair fell sharply to 91.09 after the release of worse-than-expected U.S. housing data before staging a rebound.
The British pound fell to 1.4752 in European morning but the pair rebounded from there and climbed above Tuesday's high of 1.4838 to 1.4857 in NY morning. However, the pair fell sharply to 1.4725 in NY afternoon on BoE Governor King's comments. King said monetary policy must be set in light of fiscal tightening and financial fragility and when time comes to tighten, rates would be likely to rise first and then followed by asset sales. He also said U.K. economy exhibited none of the traits normally associated with prolonged inflation.
Cable was also pressured by the release of a weak UK consumer confidence report and tough talk by US President Obama who said earlier in televised announcement at the Oval Office 'BP must pay for not only the multi-billion dollar clean-up of the Gulf of Mexico but also the restoration of the region's economy.' U.K. consumer confidence came in at 65 in May versus the forecast of 72.0 and the upwardly revised reading of 75 in April. Earlier, cable was once supported by the better-than-expected claimant count and unemployment rate, which fell by 30.9K vs. forecast of a drop of 20.0K while Apr unemployment fell to 7.9% vs. forecast of 8.0%.
On economic front, U.S. housing starts in May decreased by 10.0% m/m to 593,000 unit rate compared to an increase of 3.9% at 659,000 unit rate in April. U.S. May housing permits also came out less-than-expected at 574,000 unit rate vs 610,000 in April. U.S. industrial production in May came out at 1.2% m/m vs forecast of 0.9% and the previous downwardly revised reading of 0.7%. Eurozone May CPI inflation was unrevised at 1.6% y/y while the core CPI was steady at 0.8% y/y. Eurozone Q1 labor costs quickened to 2.1% y/y. Japan's April all industry activity index rose by 2.1% m/m, less than expected.
Economic data to be released on Thursday include: Swiss SNB rate decision , U.K. Retail sales , U.S. CPI , Current account, Real earnings , Jobless claims, Leading indicators.
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EUR/USD Intra-day signal by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2274
Late Update At 17 Jun 2010 05:56 GMT
Dlr's retreat fm y'day's NY res at 1.2338 to
1.2256 suggests choppy consolidation below 1.2354
wud continue with downside bias n below 1.2255/56
wud confirm recent upmove fm 1.1876 has made a top
at 1.2354 n yield stronger retrace. to 1.2230.
Hold short in anticipation of such a move n only
abv 1.2315 (AUS) wud risk gain twd 1.2338.
Range Forecast
1.2260 / 1.2285
Resistance/Support
R: 1.2296/1.2315/1.2338
S: 1.2255/1.2208/1.2168
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Daily Market Outlook by AceTrader
Market Review - 19/06/2010 01:11 GMT
Euro hovers near 3-week high on short-covering
Euro ended Friday's trading with a biggest weekly gain since May 2009 due to broad-based rebound in global equities and recent worries over European debt crisis had eased.
Although euro rose marginally above Thursday's high of 1.2413 to 1.2417 in European morning, the pair retreated to 1.2353 in US session on cross-selling in euro as eur/jpy fell from 112.81 to 111.93 while eur/chf slid to a fresh lifetime low of 1.3718. The gain of Swiss franc after SNB said deflation risks had receded on Thursday continued to pressure the single currency. However, euro managed to rebound intra-day on short-covering and ended the day at 1.2385 in New York trading.
Versus the Japanese yen, the greenback edged higher to 91.08 in Australia after the selloff to 90.51 in previous NY session, however, the pair retreated again after meeting renewed selling there and traded sideways in Asia. The greenback later resumed recent decline to a low of 90.45 in European mid-day before staging another rebound.
In other news, the highlight of BOJ minutes was the need for the central bank to pay great attention to the risk factors that could worsen the Japanese economy. Japan's government said it aims to achieve a positive CPI in the fiscal year 2011/12 by boosting investment in clean energy and other areas with strong potential for growth.
The British pound traded with a firm undertone in Asia initially and rose to 1.4887, the highest level since May 13 after the release of U.K. economic data as Britain's budget deficit came in lower than expected in May. U.K. PS net borrowing and PSNCR came in at 16.02 billion pounds and 11.963 billion pounds respectively. However, cable retreated from the said high in tandem with eur/usd and fell to 1.4771 in US session before recovering.
Spot gold resumed its LT uptrend to $1261.70 an ounce in NY mid-day as investors continued to buy precious metals as an alternative asset.
In other news, ECB's Gonzalez-Paramo said stress tests should be coordinated by individual governments and banks and each country must decide whether it would publish stress test at individual bank level. He added Spain had special challenges because of unlisted saving banks and could not say whether Spanish banks would be too dependent on ECB funding in current climate.
Economic data to be released next week include: U.K. Rightmove hse prices, Japan All industry index on Monday, Swiss Trade balance , Germany Ifo index , EU Current account , Consumer Confidence , Canada CPI , U.S. Existing home sales on Tuesday, New Zealand Current account , Germany Services PMI , Manufacturing PMI , BoE releases minutes , CBI distribution trade , U.S. New home sales , Fed rate decision and FOMC meeting on Wednesday, New Zealand GDP, Japan CSPI , Trade balance, EU Industrial orders, U.S. Durable goods on Thursday, New Zealand Trade balance , Japan CPI, U.S. PCE , GDP and 2010 G8 / G20 Summit on Friday.
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GBP/USD Intra-day signal by AceTrader
INTRA-DAY GBP/USD:1.4905
Last Update At 21 Jun 2010 06:51 GMT
Cable's rally abv 1.4890 (NZ) to 1.4936 in Euro
pean morning signals erratic upmove fm 1.4228 low
has once again resumed n abv said res wud bring
further headway to 1.4962, however, o/bot condition
shud cap price at 1.5000 n yield retreat later.
Buy on dips with stop as indicated, break wud
risk stronger pullback to 1.4844/50.
Range Forecast
1.4900 / 1.4936
Resistance/Support
R: 1.4936/1.4962/1.5000
S: 1.4844/1.4808/1.4771
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