Intraday trading signal - page 163
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AceTraderFx May 27: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
27 May 2015 08:21GMT
GBP/USD - ...... Cable rebounded in tandem with euro and climbed from Asian low at 1.5378 1.5437 in European morning on broad-based weakness in the greenback before retreating in part due to cross selling in sterling.
Price fell to 1.5395 and then climbed back to 1.5428.
Expect further choppy move above Tuesday's fresh 2-1/2 week trough at 1.5354 would be seen ahead of NY open.
At the moment, offers are reported at 1.5440-50 and then 1.5465/70 with mixture of offers and stops at 1.5485-95.
On the downside, bids are tipped at 1.5380-70 and more around 1.5360 with stops building up below 1.5350.
AceTraderFx May 27: Daily Technical Outlook & Trading GBP/USD
DAILY GBP/USD TECHNICAL OUTLOOK
Last Update At 27 May 2015 00:59GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
1.5404
55 HR EMA
1.5448
Trend Hourly Chart
Down
Hourly Indicators
Bullish convergences
13 HR RSI
38
14 HR DMI
-ve
Daily Analysis
Consolidation b4 marginal fall
Resistance
1.5525 - Last Thu's Europrean low (now res)
1.5475 - Y'day's high
1.5457 - Y'day's hourly res
Support
1.5355 - Y'day's low
1.5338 - 38.2% r of 1.4566-1.5815
1.5292 - May 08 high, now sup
. GBP/USD - 1.5389.. The British pound remained under pressure in tandem with euro in Asia on Tue n resumed its recent losing streak. Cable dropped to 1.5385 in Europe n then to session low at 1.5354 in NY morning after the release of mildly upbeat U.S. data b4 paring intra-day losses n recovered to 1.5415.
. On the daily chart, although cable's rally abv Apr's 1.5498 peak at 1.5498 to as high as 1.5815 in May confirms MT downtrend fm 2014 peak at 1.7192 has indeed formed a temporary low at 1.4566, last week's strg retreat to 1.5445 signals aforesaid upmove has formed a top there n y'day's sell off below 1.5445 adds credence to this view. Looking ahead, anticipated weakness in eur/usd suggests cable would be en route to 1.5338 n later 1.5191, being 38.2% r & 50% r respectively of the entire rise fm 1.4566-1.5815. Therefore, selling the pound on recovery in anticipation of further weakness to abovementioned targets is favoured. Only abv 1.5808 wud signal a temporary bottom+ is made n risk gain twd 1.5635/39.
. Today, we're holding a short position entered at 1.5420 in anticipation of resumption of recent decline to 1.5340, however, 'bullish convergences' on hourly indicators shud keep price abv 1.5300 n bring stronger recovery later.
AceTraderFx May 28: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 28 May 2015 01:09 GMT
EUR/USD - 1.0913
Euro's strong rebound from a fresh 1-month trough at 1.0819 on Wednesday due to optimism over Greek debt deal suggests a temporary low has been made and choppy trading with mild upside bias would be seen.
However, above 1.0959 (previous support, now resistance) needed to confirm this view and yield stronger retracement of decline from May's 3-month peak at 1.1467 towards 1.1008/10.
On the downside, below 1.0819 would extend aforesaid fall to retrace the entire rise from March's 12-year trough at 1.0457 towards 1.0740/50 but reckon 1.0700/10 would hold.
AceTraderFx May 28: Intra-Day News and Views (EUR/USD) & data to be released today
Intra-day Market Moving News and Views
28 May 2015 00:38GMT
EUR/USD- ..... Euro rebounded from Wed's fresh 1-week low of 1.0819 in volatile trading in NY. Bloomberg initially reported progress was being made between Greece and its international creditors. More headlines and reports emerged later in NY afternoon session.
The latest news according to Reuters report which came out after NY close is Greece and its international creditors have converged on key points on a cash-for-reforms deal but talks still have some room to cover before an agreement is clinched, according to Greece's economy minister.
"Right now negotiations are continuing, ... there have been big points of convergence," George Stathakis told Mega TV's On Line show. "There is still room to cover in the negotiations."
Greece's leftist-led gov't said on Wednesday it is starting to draft an agreement with its euro zone partners and the IMF that would pave the way for aid, but European officials dismissed this as wishful thinking.
While German FinMin Wolfgang Schaeuble was surprised by the upbeat tone from some Greek gov't officials, he said there was not much progress in the debt talks.
Stathakis said Athens has no "plan B" despite recent threats by some ministers that the cash-strapped government may default on loan repayments to the IMF. "I think (reaching) a deal is a one-way street, otherwise we would be entering uncharted waters,".
Greece and its EU/IMF lenders have been locked in tortuous negotiations on a reforms agreement for four months without a breakthrough in sight. Without a deal, Athens risks default or bankruptcy in weeks.
Stathakis said there will be one complete agreement and no partial deals."The agreement will cover the set of measures for this year and 2016 and the way that the funding gap will be covered in combination with the debt issue," he said.
Asked how much funding Greece would need, Stathakis said: "If one leaves the debt as is, there may be a need for 30 bln euros, If the debt issue is tackled, the (funding) need may be 10 bln euros."
Thursdaywill see the release of Japan's retail sales, Australia's building CAPEX, Swiss industrial orders, U.K. Q1 GDP, eurozone business climate and consumer confidence, Canada's production prices, U.S. pending home sales.
AceTraderFx May 28: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
28 May 2015 07:30GMT
USD/JPY - ...... Dlr showed muted reaction to the comments from BoJ Governor Kuroda in European morning n continued to ratchet lower from intra-day fresh 12-1/2 year peak at 124.29 (Asia).
Although dlr's softness in European morning suggests selling the greenback on recovery is recommended, sharp fall is unlikely to be seen as investors are shifting their focus to the U.S. jobs and housing data in NY morning, these include the weekly initial jobless claims n pending home sales.
Market expects the number of Americans filing new claims for unemployment benefits to drop 4k to 270K last week, whilst pending home sales in April to gain 0.9% vs an increase of 1.1% in preceding month.
At present, bids from various accounts are reported at 123.50-40, 123.35/30 then 123.20-10 with stops building up below 123.00.
On the upside, offers are placed at 123.90-00 and more at 124.20-30.
AceTraderFx May 28: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time:28 May 201508:03 GMT
USD/JPY - 123.63
Despite dollar's intra-day brief rally to a fresh 12-1/2-year peak at 124.29 in Asia, subsequent retreat suggests choppy trading with downside bias would be seen but only a daily close below 123.33 (previous resistance, now support) would indicate a temporary top has been made and yield retracement to 122.78.
On the upside, above 124.29 would extend long term uptrend from 2011 record low at 75.32 towards 124.66 and then 125.10/20 next week.
AceTraderFx May 29: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 29 May 2015 01:13 GMT
EUR/USD - 1.0961
Euro's strong rebound from Wednesday's fresh 1-month trough at 1.0819 and then breach of 1.0959 (previous support and subsequent resistance) signals decline from May's 3-month peak at 1.1467 has made a temporary low there and choppy trading with mild upside bias would be seen.
However, reckon measured resistance at 1.1030 would cap upside today and yield retreat later.
On the downside, only below 1.0819 would extend aforesaid fall to retrace the entire rise from March's 12-year trough at 1.0457 towards 1.0740/50 and then 1.0700/10.
AceTraderFx May 29: Intra-Day News and Views (GBP/USD) & data to be released today
Intra-day Market Moving News and Views
29 May 2015 02:51GMT
GBP/USD- ..... Although cable fell to a fresh 3-week trough at 1.5260 following the release of weaker-than-expected UK GDP data (2nd reading) in Europe on Thursday, the British pound rebounded in tandem with euro during the NY session and then climbed to 1.5343 in Asian morning on Friday.
Due to lack of important U.K. economic data today, the British pound is likely to follow intra-day swings in the euro. As investors have shrugged off the poor reading of Gfk consumer confidence for U.K. reported released earlier in Asia on Friday, buying the British pound on dips is recommended.
At present, bids from various accounts are reported at 1.5325/20, 1.5310/05 and then around 1.5300 with mixture of bids and stops at 1.5280-70.
On the upside, cross-related offers are tipped at 1.5345/50 and more at 1.5360-70 with release selling interest noted further out around 1.5400 .
Friday will see the release of New Zealand's building consents, U.K. GfK consumer confidence, Japan's CPI, household spending, unemployment rate, industrial production and IP forecast, Australia's HIA new home sales, Japan's construction orders, housing starts, Swiss GDP and KOF indicators, Canada's GDP and U.S. Chicago PMI.
AceTraderFx May 29: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
29 May 2015 06:20GMT
EUR/USD - ...... Despite euro's intra-day retreat from 1.0974 (AUS) to 1.0943 in Asia in part due to cross-selling in euro vs yen and sterling, price rebounded ahead of European open and then climbed to 1.0967 after release of Germany's retail sales reports.
On Fri, Destatis said that German retail sales rose to a seasonally adjusted 1.7%, from -1.4% in the preceding month whose figure was revised up from -2.3%.
As mentioned in previous update, bids from various accounts are noted at 1.0940-30, 1.0925/20 and then 1.0910-00 with mixture of bids and stops at 1.0890-80, whilst offers are reported at 1.0980-90 and around 1.1000 with selling interest from model funds tipped in 1.1020-40 region.
AceTraderFx May 29: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 29 May 2015 08:17 GMT
USD/JPY - 123.75
Despite dollar's rally to a fresh 12-1/2-year peak at 124.49 on Thursday, subsequent retreat to 123.62 in New York and then 1-pip fall to 123.61 in Asia today suggests choppy trading with mild downside bias would be seen. However, only a daily close below 123.33 (previous resistance, now support) would indicate a temporary top has been made and yield retracement to 122.78 next week.
On the upside, above 124.46 would extend long term uptrend from 2011 record low at 75.32 to 124.66 but loss of momentum should cap price below 125.00 level today.