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Intra-day traders are mostly full time traders and it is imperative that they dedicate themselves to the task during whatever market hours they trade. Many intra-day traders have developed automated systems.
AceTraderFx Jun 24: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 24 Jun 2015 08:15 GMT
USD/JPY - 123.92
Dollar's rally from Monday's low at 122.56 (Asia) to as high as 124.19 on Tuesday suggests further choppy trading inside recent established broad range of 122.47-124.46 would continue and with mild upside bias, however, only a break of said resistance would bring stronger retracement of decline from June's near 13-year peak at 125.86 to 124.62 and possibly towards 125.00 (previous support, now resistance) before retreat occurs.
On the downside, below 122.47 needed to signal stronger retracement of recent uptrend is underway and yield weakness to 122.03 and then 121.20/30.
AceTraderFx Jun 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 25 Jun 2015 01:09 GMT
EUR/USD - 1.1205
Despite euro's choppy trading after extending decline from last Thursday's 2-week peak at 1.1440 to 1.1135 on Tuesday, as 1.1235 has capped such recovery on Wednesday, downside bias remains & move to retrace earlier up movement from 1.0819 (May) to resume and yield further weakness towards chart objective at 1.1083 later.
On the upside, only a move back above 1.1292 (previous support, now resistance) would indicate a low has been made and shift risk to upside for gain towards 1.1347.
AceTraderFx Jun 25: Intra-Day News and Views (EUR/USD) & data to be released today
Intra-day Market Moving News and Views
25 Jun 2015 02:30GMT
EUR/USD -..... Despite euro's mini roller-coaster session on Wednesday, price settled around 1.1200 near NY close and continued to move narrowly in Asian morning on Thursday as Eurogroup emergency meeting to break the deadlock on the Greek debt negotiations in Brussels on Wednesday came to no conclusion and the meeting will be extended to Thursday's European morning.
As market participants are focusing on the progress of the Greek debt negotiations, further choppy trading around 1.1200 level is envisaged in Asia. Having said that, investors should pay attention to the release of Germany's GfK consumer sentiment for July at 06:00GMT.
At the moment, offers are noted at 1.1230-40 and then 1.1255/60 with stops building above 1.1280.
On the downside, bids are reported at 1.1160-50 and around 1.1130 with demand from various accounts around 1.1100.
Thursday will see the release of Germany GfK consumer sentiment, U.K. CBI distributive trades, U.S. core PCE, personal consumption, KC Fed manufacturing.
AceTraderFx Jun 25: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
25 Jun 2015 07:02GMT
EUR/USD - ..... Although investors shrugged off the release of worse-than-expected Germany Gfk consumer sentiment and pushed price briefly to 1.1218 at European open, selling interest below Asian high of 1.1220 knocked price lower and euro later retreated to 1.1183.
The research group Gfk said that its index of Germany's consumer climate for Jul fell unexpected to 10.1, fm 10.2 in the prev. reading.
Market participants are still awaiting the progress of the Greek debt negotiations.
At the moment, offers are noted at 1.1230-40 and then 1.1255/60 with stops building above 1.1280.
On the downside, bids are touted at 1.1160-50 and around 1.1130 with demand from various accounts around 1.1100.
AceTraderFx Jun 25: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 25 Jun 2015 08:09 GMT
USD/JPY - 123.75
Despite dollar's near term rise from last Thursday's low at 122.48 to as high as 124.38 on Wednesday, subsequent retreat suggests further choppy trading inside recent established broad range of 122.47-124.46 would continue and with mild downside bias, however, reckon 122.98/02 would contain weakness and yield rebound later.
On the upside, a break of 124.46 would bring stronger retracement of decline from June's near 13-year peak at 125.86 to 124.62 and then possibly towards 125.00 (previous support, now resistance).
AceTraderFx Jun 26: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 26 Jun 2015 01:00GMT
EUR/USD - 1.1186
Although euro's choppy trading after extending decline from last Thursday's 2-week peak at 1.1440 to 1.1135 on Tuesday is likely to continue today.
As 1.1235 has capped such recovery on Wednesday, a downside bias remains then move to retrace early upvmove from 1.0819 (May) to resume and yield further weakness towards chart objective at 1.1083 later.
On the upside, only a move back above 1.1292 (previous support, now resistance) would indicate a low has been made and shift risk to upside for gain towards 1.1347.
AceTraderFx Jun 26: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
26 Jun 2015 02:09GMT
USD/JPY - ...... Dlr pared its early losses in NY session on Thursday due to renewed broad-based selling in yen and extended gain from its intra-day low at 123.32 (Europe) to 123.76 in NY morning following the release of a slew of strong U.S. eco. data (weekly jobless claims, personal income, personal consumption and PCE readings).
Later, despite the release of a surprise drop in U.S. Markit service PMI for June, dlr chopped inside 123.32-123.76 for rest of the NY session after news of no deal were made for Greek debt in the second day of emergency meeting.
Today, the lack of follow-through buying in the greenback after Thursday's release of strong U.S. eco. data and intra-day weakness in Tokyo morning suggests further choppy trading below this week's peak at 124.38 (Wednesday) would be seen with downside bias. Therefore, selling the pair on recovery is favoured.
Fund flow should dominate the market in Asian and early European session until the release of Reuters/Michigan consumer sentiment index and the speech from Fed's George on the Payments System in Kansas City at 14:00GMT and 16:45GMT respectively.
At the moment, bids are reported at 123.30-20 and then 123.05/00 with demand from Japanese importers tipped at 122.80-60.
On the upside, offers from various accounts are placed at 123.60-70 and more at 123.80/85 with stops building just above 124.00.
Friday will see the release of New Zealand's exports, imports and trade balance, Japan's all household spending, CPI and unemployment rate.
AceTraderFx Jun 26: Intra-Day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
26 Jun 2015 07:19GMT
EUR/USD - ...... Euro spent another lackluster session in Asia and early European morning on Friday as investors are sidelined ahead of more talks between Greece and its international creditors on Saturday.
Euro fell to 1.1209 in Asia after meeting renewed selling at 1.1209 in Aust. and then climbed back to 1.1207 at European open.
Looks like price would remain confined inside near term established range of 1.1135-1.1235 until NY open.
At this moment, offers are reported at 1.1210-20 with mixture of offers and stops at 1.1230-40, whilst bids are touted at 1.1150-40 and more at 1.1120-10 with stops below 1.1100.
Market Review: Euro remains directinless vs usd on continued deadlock over Greek deal
Market Review - 25/06/2015 22:51GMT
Euro remains directinless vs usd on continued deadlock over Greek deal
The single currency went through another minor roller-coaster session on Thursday due to the renewed deadlock over Greek debt crisis. Despite euro's brief bounce from 1.1183 to 1.1228 in European morning, the pair nose-dived to 1.1154 before rebounding strongly to 1.1224. Euro then moved sideways in New York session.
EU's Moscovici said 'VAT, pensions remain sticking points in discussions with Greece; still discussing how to reach Greece's fiscal targets.' IMF's Lagarde said 'continues to work on a deal with Greece; creditor institutions are united.' EU's Dijsselbloem said 'door is still open for Greeks to accept creditors proposals; Eurogroup is over for now, he will inform EU leaders of state of talks.' IMF spokesman said 'on same page with ECB n EU Commission on Greece, have presented common position; must see Greece's reforms agreed and implemented, then will discuss financing financing n debt sustainability; does not extend deadlines as a matter of policy.'
An EU official said EU leaders discussed Greece's debt crisis with Prime Minister Alexis Tsipras for some two hours on Thursday in an unscheduled addition to their regular summit but insisted that negotiations be run by finance ministers. "There was an exchange of views on the way forward, not a negotiation," the official said, adding that leaders voiced hope that a planned meeting of finance ministers on Saturday could reach a deal to avert a Greek default next week. There was no plan for leaders of the 19 states that share the currency to meet separately on the sidelines of the EU summit on Thursday or Friday, the official said. He declined comment when asked if there could be a special euro summit on Sunday.
The greenback met renewed selling at 123.96 in Asia on Thursday and then weakened to 123.56 before recovering briefly to 123.80 in European morning but only to fall to 123.32. Dollar then rebounded to 123.76 in New York morning before trading sideways later in the day.
In other news, SNB's Jordan said 'franc considerably overvalued; ready to intervene in markets; outlook for global economy still be set with risks; doesn't currently expect deflationary spiral in Switzerland.' Swiss franc fell broadly after his comments.
Despite cable's brief drop to 1.5777 just before European open on Thursday, short-covering above Wednesday's low at 1.5667 lifted the pair to 1.5725 but euro-led weakness knocked price lower to 1.5680/81 before rallying to 1.5770 in NY morning. The pair then retreated to 1.5718 before trading sideways.
British Prime Minister David Cameron's desired changes to the European Union's treaties are likely to take a long time, Germany's Europe minister said on Thursday. Cameron has promised to renegotiate Britain's relationship with the 28-member bloc ahead of a membership referendum by the end of 2017. He has said treaty change will be needed in order to achieve the reforms Britain is seeking.
Friday will see the release of New Zealand's exports, imports and trade balance, Japan's all household spending, CPI and unemployment rate.