Intraday trading signal - page 152
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AceTraderFx Apr 8: Intra-Day News and Views (GBP/USD) & data to be released today
Intra-Day Market Moving News and Views
08 Apr 2015 01:48GMT
GBP/USD- ..... Cable showed muted reaction to release of downbeat U.K. data in Australia. Reuters reported Prices in British shops fell last month at the fastest rate since records began more than 8 years ago, pulled down by a sharp decline in food prices, the British Retail Consortium said on Wed.
The BRC said retail prices in March were 2.1% lower than a year earlier, marking the largest decline in shop prices since the series started in December 2006. Prices had fallen 1.7% in Feb.
Food prices declined 0.9%, the steepest drop on record, compared with a 0.4% fall the previous month.
The BRC said this boded well for the economy, with strong consumer confidence n falling prices likely to tempt Britons into spending on the high street. Consumer price inflation fell to zero in Feburary for the first time on record. Economists think it may have fallen below zero in March.
Yesterday although the British pound traded with a firm bias in Asia and gained to session high at 1.4920 at European open, price tumbled in tandem with euro to session low at 1.4830 in European morning. However, price pared its losses n rebounded to 1.4912 in NY morning before retreating again in NY afternoon to 1.4840.
Data to be released on Wednesday:
Japan current account, BoJ rate decision, BoJ policy statement, France exports, imports, trade balance, Swiss CPI, EU retail sales and U.S. FOMC minutes.
AceTraderFx Apr 8: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 08 Apr 201507:54 GMT
USD/JPY - 119.88
Although dollar's intra-day weakness after release of BoJ unchanged monetary policy suggests consolidation with downside bias would be seen, a daily close below 119.68 (Monday's high) is needed to signal erratic up move from March's 5-week trough at 118.33 has made a top at 120.45 Tuesday and yield weakness to 118.72.
On the upside, above 120.45 would bring stronger retracement of erratic decline from March's near 8-year peak at 122.03 to 120.62 (61.8% r) and then 120.90/00 but pivotal resistance at 121.20 should hold.
AceTraderFx Apr 8: Daily Technical Outlook & Trading GBP/USD
DAILY GBP/USD TECHNICAL OUTLOOK
Last Update At 08 Apr 2015 01:04GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
1.4850
55 HR EMA
1.4872
Trend Hourly Chart
Near term down
Hourly Indicators
Rising fm o/s
13 HR RSI
38
14 HR DMI
-ve
Daily Analysis
Consolidation with downside bias
Resistance
1.4981 - Mon's high
1.4920 - Y'day's high
1.4871 - Mon's low
Support
1.4803 - Y'day's low
1.4775 - Last Thur's low
1.4740 - Last Wed's low
. GBP/USD - 1.4826... Although the British pound traded with a firm bias in Asia y'day n rose to session high at 1.4920 at European open, price tumbled in tandem with euro to 1.4830. However, cable staged a shortcovering rebound to 1.4912 in NY morning b4 tumbling to session lows of 1.4803.
. Mon's retreat fm 1.4981 signals choppy trading below last week's top at 1.4995 wud continue n looking at the bigger picture 1st, although early rally fm Mar's 40-month trough of 1.4635 to 1.5166 (post-FOMC peak) confirms the LT fall fm 2014 near 6-year peak at 1.7192 has made a temp. low there, the sharp retreat to 1.4689 n subsequent 2-week long choppy trading inside aforesaid 1.4635-1.5166 broad range suggests consolidation with downside wud continue this week. Having said that, as long as last Tue's low at 1.4740 shud hold, prospect of another rebound remains. On the upside, abv 1.4981 wud revive bullishness for another rise twd 1.4990 (23 Mar high), then 1.5045/55.
. Today, as current price is trading below the 21-hr & 55-hr emas, selling cable on intra-day recovery is recommended but reckon 1.4775 sup wud hold. Abv 1.1912/20 res area anytime aborts bearish view n risks gain twd 1.4981.
AceTraderFx Apr 9: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 09 Apr 2015 01:03 GMT
EUR/USD - 1.0765
Yesterday's breach of Tuesday's low at 1.0803 to 1.0763 signals price would continue to gyrate inside early broad range of 1.1062-1.0613 and downside bias is seen for decline from Monday's high of 1.1036 to pressure price to 1.0713 before rebound occurs due to near term loss of momentum.
On the upside, only a move above 1.0887 (yesterday's high) would indicate a low made and bring gain towards resistance at 1.0955.
AceTraderFx Apr 9: Intra-Day News and Views (EUR/USD) & data to be released today
Intra-Day Market Moving News and Views
09 Apr 2015 02:14GMT
EUR/USD- ...... The single currency remained under pressure in early Asian trading after a roller-coaster session on Wednesday due to renewed broad-based buying in the greenback. Price briefly penetrated o/n NY sup at 1.0763 to 1.061 as st specs gave euro another bashing at 1.0786 at Asian open on stop hunting, however, lack of follow-through selling quickly lifted the pair.
Although euro's sell off on Wednesday suggests near term fall from Monday's high of 1.1036 would resume after consolidation and selling on intra-day recovery is favoured, sharp fall is unlikely to be seen and reckon last week's bottom at 1.0713 would hold as broad outlook remains consolidative at the moment.
Offers are tipped at 1.0780-90 and then around 1.0800 with stops emerging above 1.0820, whilst bids are placed at 1.0750-40 and then 1.0720-10 with stops located just below 1.0700.
Investors should pay attention to the release of German industrial output data. Markets expects factory output to post a monthly change of +0.2% in Jan vs +0.6% in Jan. A downbeat reading would pressure the euro whilst a better-than-expected no. may trigger short covering.
Thursday will see the release of Germany exports, imports, current account, industrial production, trade balance, UK trade balance, BoE rate decision, BoE monetary policy statement, Canada building permits and U.S. wholesale inventories.
AceTraderFx Apr 9: Intra-Day Market Moving News and Views (GBP/USD)
Intra-Day Market Moving News and Views
09 Apr 2015 08:20GMT
GBP/USD - ...... Cable tumbled in European morning due to active cross-selling in sterling n price easily penetrated Tuesday's low at 1.4803 to 1.4769 after triggering stops which were located below 1.4800.
Although intra-day weakness suggests consolidation with downside bias would be seen in European morning, sharp move from here is not unlikely as short-covering should emerge ahead of BoE monetary policy decision at 11:00GMT (although market expect it will be non-event).
Offers from various accounts are noted at 1.4800-10, 1.4825/30 and then 1.4840-50 with stops emerging above 1.4870, whilst bids are placed at 1.4750-40 and then 1.4730-20 with stops located just below 1.4700.
The British house price growth rebounded in monthly terms during March but slowed further on an annual basis, according to a survey from mortgage lender Halifax on Thursday.
Halifax said house prices rose 0.4% in Mar from Feb, compared with a forecast for a rise of 0.2% in a Reuters poll. Prices had declined by 0.4% in Feb, a sharper fall than first estimated.
Prices in the 3 months to March were 8.1% higher than they were a year earlier, compared with an increase of 8.3% in the 3 months to Feb n below a peak of more than 10% in mid-2014.
AceTraderFx Apr 9: Daily Technical Outlook & Trading USD/CHF
DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 09 Apr 2015 00:44GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.9647
55 HR EMA
0.9625
Trend Hourly Chart
Near term up
Hourly Indicators
Bearish divergences
13 HR RSI
65
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
0.9756 - Last Tue's high
0.9743 - Last Wed's high
0.9673 - Tue's high
Support
0.9598 - Y'day's low
0.9558 - Tue's low
0.9536 - Prev. res, now sup
. USD/CHF- 0.9677 ... The pair remained under pressure in Asia as decline in dlr/yen led to broad-based decline in the greenback, then rally in cable in European morning led to more dlr's weakness n knocked price to session low of 0.9598 b4 rebounding in NY. Dlr later rose to 0.9675 after FOMC minutes.
. Looking at the hourly n daily charts, Tue's rally abv Mon's high at 0.9605 strongly suggests recent decline fm Mar's 2-month peak at 1.0129 has formed a temporary low last Fri at 0.9480 n consolidation with upside bias remains for gain twd 0.9728, being a 'minimum' 38.2% retracement of foresaid fall fm 1.0129. Having said that, as the however, as hourly indicators wud display prominent 'bearish divergences' on such move, strg gain abv there is unlikely n reckon res at 0.9756 (last week's high) wud cap upside n yield decline later. On the downside, below y'day's 0.9558 low any time wud signal said correction fm 0.9480 has ended, then risk wud shift to downside for weakness twd 0.9480.
. Today, as current price is trading abv the 21-hr & 55-hr emas, buying the dlr on dips is favoured, however, reckon 0.9728 may hold on 1st testing. Below 0.9598 wud risk stronger retracement twd 0.9558/63 later.
AceTraderFx Apr 10: Intra-Day News and Views (EUR/USD) & data to be released today
Intra-Day Market Moving News and Views
10 Apr 2015 02:34GMT
EUR/USD- ...... Euro gains respite temporary respite in Asia after clocking up 4 consecutive days of losses. Although euro tumbled on Thur below last week's low at 1.0713 to a fresh 2-1/2 week trough at 1.0637 in NY due to renewed broad-based strength in the greenback n comments from IMF head Christine Lagarde (see prev. update), short-covering lifted price near NY close n price recovered to 1.0684 in Asian morning on Fri.
Euro's weakness since the beginning of this week suggests selling the single currency on intra-day recovery is favoured today. At the moment, offers are tipped at 1.0685/90, 1.0700-10 n then 1.0735/40 with stops building above 1.0750, whilst bids are noted at 1.0650-40 with stops below 1.0600.
It was reported Greece could suffer if it were forced to default on its payments n exit the euro zone, while the currency bloc is better able to weather such a shock than it was 4 years ago, the head of the IMF said on Thursday.
"I think it would be a terrible situation for the Greek people," IMF MD Christine Lagarde said on CNBC in response to a question about a potential Greek exit from the currency bloc.
She added that the euro zone is now in a less vulnerable position due to its banking union n strengthened fiscal union.
Fridaywill see the release of China CPI, PPI, France industrial output, UK industrial output, manufacturing production, Canada housing starts, unemployment rate, U.S. export price index, import price index and Fed budget.
AceTraderFx Apr 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major EUR/USD
Update Time:10 Apr 2015 03:46 GMT
EUR/USD - 1.0675
Yesterday's breach of last Tuesday's low at 1.0713 to 1.0637 signals price would continue to gyrate inside early broad range of 1.1062-1.0613 and downside bias is seen for decline from Monday's high of 1.1036 to pressure price to pivotal support at 1.0613, break would confirm a 'downside break' of aforesaid range has taken place and yield further weakness to 1.0580, then 1.0551 next week.
On the upside, only a move back above 1.0830 (yesterday's European support, now resistance) would indicate a temporary low is made and bring gain towards 1.0778/89.
AceTraderFx Apr 10: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 10 Apr 201508:02 GMT
USD/JPY - 120.45
Dollar's rise above Tuesday's high of 120.45 to 120.74 yesterday signals for erratic up move from 118.33 (March's 5-week trough) to retrace decline from March's 8-year peak at 122.03 remains in progress and further gain to pivotal resistance at 121.20 would be seen before prospect of a retreat.
On the downside, only a daily close below 119.64 would indicate aforesaid correction has ended instead and shift risk to downside for weakness towards 119.10/20.