Intraday trading signal - page 18
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Daily Market Outlook by AceTrader
Market Review - 10/04/2010 01:26GMT
Euro rallies on speculation of a favourable Greek aid package
The single currency gained against most of its counterparts for a second day on Friday despite Fitch Rating downgraded Greece's debt by 2 notches on speculation that the European Union has fostered a bailout package for Greece at below-market interest rate if such aid is needed , this move had the calming effect on market's concern that the debt-ridden Greece will default following ECB's chief Trichet comment on Thursday that Greece was not in danger of defaulting on its debt.
Although euro retreated fm Asian morning high of 1.3384 to 1.3341 in Asian mid-day, euro climbed to 1.3419 on renewed buying following previous day's strong rebound from 1.3282. The single currency rose steadily in European morning due to firmness in European shares and despite a brief retreat to 1.3366, renewed buying interest lifted the pair again after Reuters reported that Euro zone finance ministers and senior central bankers have reached an agreement on the terms of possible emergency loans for Greece. The single currency eventually rallied to 1.3500 in NY afternoon and closed at 1.3499. In other news, Fitch downgraded Greece rating by two notches to BBB- from BBB+ and outlook to negative. However, euro drew support as ECB President Jean-Claude Trichet said Italy absolutely not in same situation as Greece and Italy has been able to contain public deficit and has shown resistance in difficult time. In addition, Greek Finance Minister George Papaconstantinou also said the country will not seek the activation of an EU-IMF aid mechanism decided by European leaders last month.
The British pound edged higher to 1.5305 in Australia in tandem with euro following previous day's rebound fm 1.5141. Cable's intra-day rise accelerated at European opening due to broad-based buying after triggering stops above Monday's top of 1.5320 and hit an intra-day high of 1.5393 after U.K. core PPI came in higher-than-expected at 0.7% m/m and 3.6% y/y respectively versus the economists' forecast of 0.3% m/m n 3.1% y/y.
Versus the Japanese yen, dollar extended the rebound from Thursday's low of 92.83 in Asian morning as yen was pressured by overnight news after Nikkei and other newspapers reported Japan's PM will meet BOJ's chief today at periodic meetings between the govt. n the central bank to discuss the economy and financial situation, traders speculated the government will make additional request to the BOJ for more monetary easing steps. However, the pair retreated from 93.79 in European mid-day and price retreated in NY morning due to broad based weakness in dollar, the pair hit an intra-day low of 93.10 in NY mid-day before stabilising.
The Swiss franc fell versus euro on speculation that SNB sold its currency to prevent it from appreciating and eur/chf surged to 1.4395 in NY morning, however, usd/chf resumed its decline fm Thursday high of 1.0786 to 1.0655 and closed near the day's low.
Commodity currencies rallied due to return of risk appetite as rally in the Dow encouraged investors to move back to yen carry trades. DJI briefly hit a 52-week high of 11,000 and closed 70 points up at 10,997.
Economic data to be released on next week include:Canada Housing starts and U.S. Fed budget on Monday, U.K. house prices, BRC retail sales, Trade balance , Japan Domestic CGPI, Germany CPI and HICP, U.S. Trade balance, Export price , Import price, Consumer confidence, Canada Exports, Imports, New housing price index on Tuesday, New Zealand Retail sales, Australia W'pac consumer confidence, EU Industrial production, U.S. CPI data, Retail sales on Wednesday, Swiss GDP, CPI, Retail sales, Industrial production, Japan Capacity utilisation and Industrial production, EU Trade balance, U.S. Jobless claims, Industrial production, Philadelphia Fed survey, NAHB housing market index on Thursday, Swiss Combined PPI, EU HICP final, U.S. Housing starts and Building permits on Friday.
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AUD/USD Intra-day signal by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM :
AUD/USD: 0.9320
Last Update At 12 Apr 2010 06:25 GMT
Although aud's retreat fm 0.9389 suggests recent
upmove has possibly formed a temp. top n consolida-
tion below there wud continue, present bounce fm
0.9305 suggests pullback is over n upside bias wud
be seen for gain to 0.9345/50.
Buy on dips with stop as indicated, below wud
risk retrace. to 0.9267 b4 'up'.
Range Forecast
0.9305 / 0.9335
Resistance/Support
R: 0.9347/0.9389/0.9407
S: 0.9297/0.9267/0.9253
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Support, Resistance and Range forecast-AceTrader
INTRA-DAY USD/JPY:
Last Update At 13 Apr 2010 05:36 GMT
Range Forecast
92.50 / 92.80
Resistance/Support
R: 92.90 / 93.27 / 93.61
S: 92.43 / 92.27 / 92.04
-------------------------------------------------
INTRA-DAY EUR/USD:
Last Update At 13 Apr 2010 04:13 GMT
Range Forecast
1.3570 / 1.3595
Resistance/Support
R: 1.3618/1.3636/1.3692
S: 1.3566/1.3555/1.3500
-------------------------------------------------
INTRA-DAY USD/CHF:
Last Update At 13 Apr 2010 04:14 GMT
Range Forecast
1.0570 / 1.0600
Resistance/Support
R: 1.0617/1.0655/1.0689
S: 1.0554/1.0532/1.0507
-------------------------------------------------
INTRA-DAY GBP/USD:
Last Update At 13 Apr 2010 06:14 GMT
Range Forecast
1.5355 / 1.5400
Resistance/Support
R: 1.5389/1.5421/1.5466
S: 1.5335/1.5320/1.5291
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EUR/USD Intra-day signals by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.3643
Late Update At 15 Apr 2010 04:34 GMT
Euro's retreat fm 1.3666 after y'day's gain to
1.3679 (NY) suggests further range-trading wud con-
tinue with near term downside bias for pullback to
1.3620/25, however, reckon y'day's low at 1.3595
wud remain intact n yield another bounce later.
Stand aside n look to buy on intra-day weakness
but abv 1.3679 needed to bring re-test of 1.3692.
Range Forecast
1.3630 / 1.3655
Resistance/Support
R: 1.3679/1.3692/1.3750
S: 1.3612/1.3595/1.3545
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GBP/USD Intra-day signals by AceTrader
INTRA-DAY GBP/USD:1.5410
Last Update At 16 Apr 2010 06:31 GMT
Present anticipated weakness after meeting
renewed selling at 1.5454 suggests recovery fm
1.5385 has ended at 1.5511 (NY) n decline fm
y'day's high of 1.5524 to retrace recent upmove
wud resume for re-test of said sup, then 1.5348.
Sell again on recovery with stop as indicated,
break wud prolong choppy trading n risk 1.5480....
Range Forecast
1.5400 / 1.5435
Resistance/Support
R: 1.5454/1.5482/1.5511
S: 1.5385/1.5335/1.5300
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Daily Market Outlook by AceTrader
Market Review - 17/04/2010 03:39GMT
Dollar and yen rally on news of Goldman fraud charges
Dollar together with the Japanese yen rallied across the board on Friday as news of fraud charges brought by U.S. regulators led to selloff in global stocks markets, spooking investors to unwind risky assets and fled to U.S. dollar and the yen as safe haven. Renewed market woes over Greece's debt problems added pressure on the euro.
Versus the Japanese yen, the dollar was under intense selling pressure and declined from 93.15 in Australia on risk aversion due to renewed woes on Greece's debt problems. Despite brief but strong rebound to 93.11 in European mid-day due to a Japan lawmaker's call for monetary easing, the pair later tumbled to 91.90 in NY mid-day as the news of Goldman Sachs Group Inc (GS.N) was charged with fraud by the U.S. Securities and Exchange Commission spooked the market, leading investors to dump riskier assets such as stocks and euro for safe haven currencies like yen and dollar. Both commodity currencies and stocks tumbled on renewed risk aversion and DJI ended the day down by 125.91 points at 11018.66. Aud/jpy slumped from 86.99 to 84.94 while gbp/jpy weakened from 144.09 to 141.37 and eur/jpy also dropped from 126.40 to 123.86.
The single currency remained under pressure throughout the day. Despite a brief pullback to 1.3586, euro retreated from there and tumbled below Thursday's low of 1.3521 to 1.3472 on active cross selling in euro versus the Japanese yen due to renewed risk aversion caused by the Goldman news. Uncertainty on how the EU-IMF aid would work in practice continued to pressure euro. In other news, EU posted 2.6 billion euros trade surplus in February versus the economists' forecast of a 1.0 billion deficit while EU inflation in March was 0.9% as expected.
On the economic front, U.S. housing starts rose by 1.6% to 626,000 unit rate in March (forecast was 610,000 unit rate) versus 616,000 in February whilst building permits increased by 7.5% to 685,000 unit rate against the economists' forecast of 630,000. U.S. Michigan consumer sentiment came in at 69.5, well below the economists' expectation of 75.0.
Economic data to be released on next week include: U.K. Rightmove hse prices, Japan Consumer confidence, U.S. Leading indicators on Monday, New Zealand CPI, Germany PPI, EU Current account, U.K. CPI, Germany ZEW index, Canada BOC rate decision on Tuesday, Japan Leading indicators, U.K. Avg. earnings, U.K. Claimant count, U.K. ILO unemployment rate, Canada Wholesale sales on Wednesday, Japan Trade balance, Swiss Trade balance, Germany Manufacturing PMI, Services PMI, EU Manufacturing PMI, Services PMI, U.K. Retail sales, Swiss ZEW index, U.S. Jobless claims, PPI, Existing home sales, Canada Leading indicators on Thursday, Germany Ifo index, U.K. GDP, EU Industrial orders, Canada CPI, U.S. Durable goods, U.S. New home sales, Canada Retail sales on Friday.
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GBP/USD Intra-day signals by AceTrader
INTRA-DAY GBP/USD: 1.5255
Last Update At 19 Apr 2010 04:37 GMT
Although cable has resumed recent decline after
intra-day brief recovery fm 1.5260 (AUS) to 1.5312
earlier, nr term loss of momentum wud prevent steep
fall fm here n reckon 1.5220 wud contain weakness,
bring a much-needed minor rebound later.
For st trade, turn long on dips for 1.5275 n if
price rises to 1.5290 1st, sell for 1.5240.
Range Forecast
1.5225 / 1.5275
Resistance/Support
R: 1.5312/1.5335/1.5360
S: 1.5240/1.5219/1.5172
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Daily Market Outlook by AceTrader
Market Review - 19/04/2010 23:04GMT
Dollar pares gains as U.S. stock rebounds
The greenback pared gains versus most of its counterparts (except the Japanese yen) due to returned risk appetite as U.S. shares rebounded. Earlier, the dollar extended its Friday's gain as news of weekend's report of German and U.K. government were leading a probe into Goldman's alleged fraud case filed by U.S. SEC led to more risk aversion and spurred demand of safe-haven currency. Versus the Japanese yen, the greenback declined to 91.60 in European morning before rising to as high as 92.47 in NY afternoon. DJI rose 73 points and closed at 11092.
Euro was initially pressured in Asia and European morning on renewed concern over Greece's debt problem as well as weakness in European and Asian equities following news of alleged fraud case filed by SEC on Goldman. Price hit an intra-day low of 1.3416 at NY opening but later staged a strong rebound in tandem with cable in NY afternoon.
The British pound also traded with a soft bias on Monday as the latest U.K. election poll results on Sunday showed a surprise jump in support for the smaller Liberal Democrats Party due to last Thursday's strong performance of Nick Clegg in the 1st televised debate at the expense of the Labour and Tories, suggesting a hung parliament in May 6 general election would be likely. Cable tumbled from 1.5359 to 1.5192 in European mid-day before rebounding strongly after U.K. Finance Minister Alistair Darling said exports have picked up and unemployment stabilized.
Economic data to be released on Tuesday include: New Zealand CPI, Germany PPI, EU Current account, U.K. CPI, Germany ZEW index, Canada BOC rate decision.
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EUR/USD Intra-day signals by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.3470
Late Update At 20 Apr 2010 05:31 GMT
Euro has rebounded after a brief pullback fm
1.3502 to 1.3466, suggesting near term upmove fm
y'day's 1.3416 low to retrace recent decline wud
head to 1.3505 but o/bot condition wud prevent strg
gain n reckon 1.3520/30 wud cap upside.
Raise long entry for 1.3505 n if euro rises to
1.3515 1st, sell for 1.3480 but 1.3445/46 wud hold.
Range Forecast
1.3470 / 1.3500
Resistance/Support
R: 1.3513/1.3542/1.3586
S: 1.3466/1.3446/1.3416
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cable
hi guys where do u think cable is going