Intraday trading signal - page 159
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AceTraderFx May 11: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
11 May 2015 08:44GMT
GBP/USD - ....... Cable moves in a volatile fashion in European morning as investors are reluctant to enter large position ahead of BoE monetary policy decision at 11:00GMT.
Despite edging higher from Asian low at 1.5405 in tandem with euro to 1.5335 at European open, cross-selling in sterling knocked price down to 1.5393 before staging another bounce to 1.5431.
At present, offers are touted at 1.5450-60 and around 1.5480 with a mixture of offers and stops at 1.5490-00.
On the downside, bids are reported at 1.5390/85 and then 1.5375/70 with stops building up below 1.5355 (reaction low from Fri's fresh 2-month peak at 1.5523).
AceTraderFx May 11: Weekly Technical Outlook & Trading GBP/USD
WEEKLY GBP/USD TECHNICAL OUTLOOK
Last Update At 11 May 2015 00:07GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.5433
55 HR EMA
1.5366
Trend Hourly Chart
Up
Hourly Indicators
Turning down
13 HR RSI
56
14 HR DMI
+ve
Daily Analysis
Consolidation with a neutral bias
Resistance
1.5554 - Feb 2015 peak (26th)
1.5523 - Last Fri's 10-week high
1.5498 - Apr's high (29th)
Support
1.5355 - Last Fri's low
1.5292 - Wed's high (now sup)
1.5240 - Last Fri's low (AUS)
. GBP/USD - 1.5445... The British pound made spectacular gain vs its peers last week. Price met renewed buying at 1.5088 on Tue n ratcheted higher to 1.5292 Wed. News of a strong Conservative lead fm exit poll at Thur's NY close triggered a 'relief rally' fm 1.5240 to as high as 1.5523 on Fri b4 retreating.
. Looking at the daily chart, cable's rally abv Apr's 1.5498 high last Fri to a 2-month peak of 1.5523 confirms MT rise fm Apr's near 5-year trough at 1.4566 has once again resumed n price is en route to 2015 peak at 1.5554 (Feb). As the daily technical indicators are rising, a daily close abv said 1.5544 res wud encourage for further headway twd 1.5664, being a 61.8% proj. of the entire rise fm 1.4566-1.5498 measured fm 1.5088. Therefore, buying cable on dips is favoured n only a daily close below 1.5292 (previous res, now sup) wud be the 1st signal temporary top is in place n risk would shift to the downside for weakness twd 1.5165 but reckon sup at 1.5088 should remain intact.
. Today, although cable has risen again in Fri's post-NFP session in NY after intra-day strg retreat fm 1.5523 to 1.5355, abv said res needed to ring re-test of 1.5523, bearish divergences shud cap price below res at 1.5621.
AceTraderFx May 12: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 12 May 2015 01:00 GMT
EUR/USD - 1.1140
Euro's intra-day breach of Friday's low at 1.1179 to 1.1131 in New York on lack of positive development after the special Euro group meeting.
This is suggesting the fall from last Thursday's 10-week peak at 1.1392 to correct recent strong up move has once again resumed and weakness towards 1.1090/00 is envisaged.
However, loss of momentum should keep price above 1.1062 (previous res, now sup) today and yield rebound later.
On the upside, only above 1.1228/37 area signals 1st leg of correction is over but 1.1290 (Friday's New York high) should hold from here.
AceTraderFx May 12: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
12 May 2015 02:37GMT
USD/JPY- ...... Dlr maintained a firm undertone in Asia on Tuesday as yesterday's sell off in U.S. treasuries ( U.S. 30-year bond yields rallied 15 basis points to a fresh 5-month high of 3.0522% ) underpinned the greenback. Price extended up move from Monday's low at 119.47 (NZ) on renewed broad-based buying in the dlr ahead of Asian open n climbed marginally higher above NY high of 120.15 to 120.18 b4 easing in part due to cross-buying in yen vs other major ccys.
Expect consolidation with upside bias remains ahead of European open and buying dlr on dips is recommended, however, sharp gain beyond last week's peak at 120.51 is unlikely to be seen as market focus is on other dlr majors. At present, bids from various accounts are noted at 120.00-119.90 and more at 119.80-70 with a mixture of bids and stops at 119.55-45.
On the upside, offers are tipped at 120.25/30 n then 120.40-50 with more selling interest touted at 120.70/80.
A piece of hawkish news on Monday worth noting Federal Reserve Bank of San Francisco President John Williams (voting member) who told CNBC that the Fed is unlikely to provide much warning ahead of an increase in short-term interest rates.
Tuesdaywill see the release of U.K. BRC retail sales, Japan's leading indicator, U.K. industrial and manufacturing output, U.S. Redbook and Federal budget.
AceTraderFx May 12: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
12 May 2015 06:50GMT
EUR/USD - 1.1190... Despite initial weakness to 1.1134 in Asia, cross-buying in euro and buying interest above 1.1131 (NY) and lifted price to 1.1190, then 1.1201 in European morning before easing.
At the moment, bids are placed at 1.1170/65 and around 1.1150 with stops building up below 1.1130.
Whilst on the upside, offers from various accounts reported at 1.1210-20 and then 1.1220/25 with mixture of offers and stops at 1.1240-50.
Bank of France said earlier: estimates Q2 French GDP growth is at 0.3% (1st estimate) and business climate indicator for industrial sector rises to 98 in April from unrevised 97 in March. Also, the business climate indicator for services sector rises to 95 in April from revised 94 in March.'
AceTraderFx May 12: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 12 May 2015 08:07 GMT
USD/JPY - 120.05
Despite dollar's intra-day retreat after a brief rise above 120.24 (Friday) to 120.27 in Asia, price is expected to continue to gyrate inside April's tight range of 120.84-118.50 as long as 119.47 (Monday's low in NZ) holds, consolidation with upside bias remains but only a break of 120.84 would extend gain to 121.20.
On the downside, below 119.47 would shift risk to downside for weakness to 119.06 and possibly marginal weakness but support at 118.50 should remain intact.
AceTraderFx May 13: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 13 May 2015 01:27 GMT
EUR/USD - 1.1217
Despite euro's retreat after intra-day rally from 1.1134 to 1.1279 on Tuesday, as this move suggests correction from last Thursday's 10-week peak at 1.1392 has ended Monday at 1.1131, choppy trading with upside bias remains.
Looking ahead, a daily close above 1.1325 (previous support, now resistance) would confirm this view and bring resumption of upmove from March's 12-year trough at 1.0457 to re-test said temporary top, then 1.1440/50.
On the downside, only below 1.1131/34 would shift risk to downside for stronger retracement towards 1.1060/62.
AceTraderFx May 13: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
13 May 2015 05:13GMT
USD/JPY- ......more on comments from BoJ Gov. Kuroda:
'main transmission channel of BoJ's stimulus programme is to lower real interest rates;
Japan's real interest rates have fallen significantly as inflation expectations have risen as a whole from a somewhat long-term perspective;
BoJ's monetary policy does not directly target FX but excessively stronger yen has been reversed since introduction of QQE;
Japan likely to see consumer inflation hit 2 pct around first half of fiscal 2016;
won't hesitate to adjust monetary policy if needed to achieve 2 pct inflation.
'last year's sales tax hike had bigger impact on economy, prices than expected but economy's positive momentum remains intact;
don't see any moves in asset prices or among financial institutions based on excessive expectations;
Japan's long-term rates are low due to QQE, having positive impact on economy;
natural for Japan's rates to rise if there are expectations that economy and prices will improve.'
AceTraderFx May 13: Daily Recommendations on Major -JPY/USD
DAILY MARKET OUTLOOK
Update Time: 13 May 2015 08:08 GMT
USD/JPY - 119.82
Dollar's retreat after a brief rise above 120.24 (Friday) to 120.27 yesterday suggests further choppy trading inside April's tight range of 120.84-118.50 would continue and near term downside bias is seen for weakness to 119.47 (Monday's low).
However, reckon last week's bottom at 119.06 would remain intact and bring rebound later.
On the upside, only above 120.27 would shift risk to upside for a re-test of May's peak at 120.51, break would extend gain towards 120.84.
AceTraderFx May 14: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time:14 May 2015 01:15 GMT
EUR/USD - 1.1357
Euro's intra-day rally from 1.1202 to as high as 1.1383 on Wednesday signals correction from last Thursday's 10-week peak at 1.1392 has ended at 1.1131 (Monday) and re-test of this resistance is seen.
Break would confirm erratic upmove from March's 12-year trough at 1.0457 has resumed and bring further gain towards daily chart objective at 1.1450 later.
On the downside, only a failure to penetrate 1.1392 resistance and then move back below 1.1279 (Tue high, now support) would indicate further choppy trading inside 1.1392-1.1131 would continue and risk weakness towards 1.1202.