Intraday trading signal - page 176
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AceTraderFx Jul 13: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 13 Jul 2015 08:13 GMT
USD/JPY - 123.35
Dollar's intra-day rally above 122.88 (Friday high, now support) signals first leg of correction from June's near 13-year peak at 125.86 has ended at last Wednesday's 7-week trough at 120.42, stronger gain to 123.75 may be seen.
However, reckon price would falter below 124.00 today and yield another strong retreat later.
On the downside, a daily close below 122.88 would indicate a top is made and bring weakness towards 122.40/50 but 122.05 (intra-day low in New Zealand) should hold today.
AceTraderFx Jul 13: Intra-day Market Moving News and Views (USD/JPY)
Intra-day Market Moving News and Views
13 Jul 2015 08:22GMT
USD/JPY - ...... Although dlr moved sideways in Asia after early intra-day rebound from 122.05 (NZ) to 122.75, price rallied above last Friday's high of 122.88 to 123.44 in European morning after news of euro zone leaders reached agreement on Greece before easing.
Although dlr's intra-day rally in European morning suggests consolidation with upside bias would be seen ahead of NY open and buying the greenback vs jpy on dips is recommended.
Broad outlook for dlr remains consolidative and sharp gain beyond 124.00 level is unlikely to seen, therefore, position traders can look to sell on next intra-day upmove in anticipation of a subsequent retreat to 123.00 level.
At the moment, bids are reported at 123.20-10 and then 123.00-122.90 with mixture of bids and stops just below 122.80.
On the upside, offers are noted in 123.70-90 region and more around 124.00 with mixture of offers and stops at 124.20-30.
AceTraderFx Jul 14: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 14 Jul 201501:27 GMT
EUR/USD - 1.0992
Although euro's strong retreat from yesterday's high of 1.1197 suggests correction from last Wednesday's 5-week trough at 1.0916 has ended Friday at 1.1216 and consolidation with downside bias would be seen.
Only a breach of said support would confirm decline from June's peak at 1.1440 has resumed and yield further weakness to 1.0887.
On the upside, above 1.1150/60 would prolong choppy trading but resistance at 1.1197 should remain intact.
AceTraderFx Jul 14: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
14 Jul 2015 08:02GMT
EUR/USD - ...... Although euro extended intra-day losses at European open and fell below Asian sup at 1.0974 to 1.0966 after official data showed Germany's inflation remained in a negative zone last month, short-covering emerged and lifted price to 1.1006 before moving sideways.
On Tuesday, the Federal Statistical Office Germany said that German CPI fell to a seasonally adjusted -0.1% in June, from -0.1% in the preceding month.
Similar to previous update, bids are reported at 1.0960-50 and then 1.0930-20 with stops touted just below 1.0916 (last Tuesday's 5-week trough).
On the upside, offers are placed at 1.1020/25 and then 1.1040-50 with mixture of offers and stops at 1.1070-80.
AceTraderFx Jul 14: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 14 Jul 201507:50 GMT
USD/JPY - 123.47
Although dollar has extended rise from last Wednesday's fresh 7-week trough at 120.47 to 123.73 in Asia today, failure to re-test July's peak at 123.75 and subsequent retreat suggests a temporary top is made and choppy trading with downside bias is seen for a much-needed retracement towards 122.20/30 later.
On the upside, above 123.73/75 would indicate aforesaid rise to correct decline from June's near 13-year peak at 125.86 has resumed and bring further gain to 123.99 but resistance area at 124.38/46 should remain intact.
AceTraderFx Jul 15: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 15 Jul 201500:55 GMT
EUR/USD - 1.0996
Although euro has retreated after yesterday's strong rebound from 1.0966 to 1.1083 and consolidation with downside bias would be seen, break of last Wednesday's 5-week trough at 1.0916 is needed to confirm decline from June's peak at 1.1440 has resumed and yield further weakness to 1.0887 and then 1.0840/50 but key support at 1.0819 should remain intact.
Above 1.1083/90 would prolong choppy sideways trading but resistance at 1.1216 (reaction high from 1.1966) should remain intact.
AceTraderFx Jul 15: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
15 Jul 2015 02:28GMT
USD/JPY - ..... Although dlr fell from a near 2-week high of 123.73 in Asia to 123.19 on Tuesday adn then staged a recovery to 123.54 in Europe, price briefly tanked to 122.92 in NY morning after release of weak U.S. retail sales data, renewed broad-based buying in the greenback quickly emerged and lifted price to 123.45.
Later, dlr moved in a relatively narrow range of 123.25-123.45 for rest of the NY session before climbing higher on renewed selling in yen.
Today's focus on dlr in Asian session is the announcement of the latest BoJ monetary policy decision n then the BoJ Governor Kuroda's press conference around 03:00GMT and 06:30GMT respectively.
The BoJ is widely expected to maintain its monetary policy target unchanged after its two-day monthly meeting n continues its Japanese government bond purchase, the central bank will maintains its view inflation will accelerate to around 2% in the first half of fiscal 2016.
Later in NY session, market focus will be on the speeches from Federal Reserve Chair Janet Yellen who will deliver her semi-annual testimony on monetary policy before the House Financial Services Committee at 14:00GMT and Federal Reserve Bank of San Francisco President John Williams who will speak on the economic outlook before the Mesa Chamber of Commerce at 19:00GMT. In addition, investors should pay attention to the release of a slew of U.S. economic data in NY morning, these include industrial output, NY Fed mfg index, PPI and capacity utilization. Until then, dlr is expected to remain range bound inside 123.73-122.92 (Tuesday's range) for now.
Bids are noted at 123.30-25 and more below with stops reported below 122.90.
Offers are tipped at 123.50/55 and more above with stops building above 123.75.
Data to be released on Tuesday:
Australia consumer sentiment, China GDP, retail sales, industrial output, Japan rate decision, France CPI, Swiss retail sales, ZEW investor sentiment, UK claimant count, unemployment rate, Canada manufacturing sales, BoC rate decision, U.S. PPI, capacity utilisation and Fed Beige book.
AceTraderFx Jul 15: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
15 Jul 2015 07:43GMT
EUR/USD - ...... Despite euro's brief drop to 1.0987 ahead of European open, price rebounded to 1.1027 in European morning and then chopped sideways inside 1.0987-1.1027 among the headlines about the Greece's debt crisis.
Further choppy trading around the 1.10 level is envisaged as investors await the decision of Greek parliament on whether to approve the tough austerity measures required in order for Athens to get its 3rd bailout package.
At present, bids are noted at 1.0980-70 with stops below 1.0960 whilst some offers are tipped at 1.1030-40 and more above with stop touted above 1.1085.
AceTraderFx Jul 15: Daily Technical Outlook & Trading USD/JPY
DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 15 Jul 2015 00:07GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
123.36
55 HR EMA
123.14
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
47
14 HR DMI
+ve
Daily Analysis
One more rise b4 retreat
Resistance
124.38 - Jun 24 high
123.99 - Jun 28 high
123.75 - Jul 02 high
Support
122.92 - Y'day's low
122.76 - 38.2% r of 121.19-123.73
122.05 - Mon's low (NZ)
. USD/JPY - 123.35... Despite climbing to a near 2-week high of 123.73 at Tokyo open on Tue, cross-unwinding in yen pushed price lower to 123.19, dlr tanked briefly to 122.92 after weak US retail sales b4 rebounding to 123.45.
. On the daily daily, although dlr's erratic decline fm Jun's near 13-year peak at 125.86 to as low as 120.42 last Wed confirms the LT uptrend fm 2011 record low at 75.32 has formed a top there, the strong rebound to 123.73 y'day signals 1st leg of correction has ended there n consolidation with near term upside bias remains for gain to 123.75/123.78, being Jul's high as well as 'dynamic' 61.8% r of aforesaid fall fm 125.86, reckon upside would falter below res area at 124.46/62 n yield another decline later next week. Therefore, whilst buying dlr on dips in anticipation of further gain to indicated upside target is favoured, position players should sell dlr on such rise. On the downside, a daily close below 122.04 would suggest correction over, yield re-test of 120.42.
. Today, as y'day's bound fm 122.92 suggests pullback fm 123.73 is over n wud extend recent gain to 123.99, 'bearish divergences' on hourly indicators wud cap price below 124.23. Therefore, we're trading on both sides of the market.
AceTraderFx Jul 15: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 15 Jul 2015 08:08 GMT
USD/JPY - 1.1031
Dollar's rebound after yesterday's intra-day pull-back from 123.73 to 122.92 suggests upside bias remains for from last Wednesday's fresh 7-week trough at 120.47 to 123.73 to retrace decline from June's near 13-year peak at 125.86 to extend to 124.00/10.
However, reckon resistance area at 124.38/46 should cap upside and bring retreat later.
Below 122.88/92 would indicate a top is possibly made and yield weakness to 122.41, however, support at 122.05 should hold.