Intraday trading signal - page 201
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AceTraderFx Oct 9: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 09 Oct 2015 08:46 GMT
USD/JPY - 120.19
Despite yesterday's sharp retreat to 119.63, subsequent rebound helped by increased risk appetite due to the rally in global equities suggests further choppy trading above September's trough at 118.68 would continue with upside bias and gain towards 120.38, then 120.57 (reaction high) would be seen, break there would retain bullishness for 120.99/00 before prospect of a correction early next week.
On the downside, only below 119.21 would abort daily bullishness on the buck and turn outlook bearish for weakness towards 118.60/68 area.
AceTraderFx Oct 12: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
12 Oct 2015 00:52GMT
USD/JPY - ...... The greenback opened slightly lower to 120.16 in NZ before rebounding to 120.26 in Australia, however, renewed selling emerged over there and pressured the pair lower to 120.09 in thing trading conditions at Asian open as Japanese markets remain closed for Sports-day holiday.
Despite increasing pressure from the government, BoJ's Governor Haruhiko Kuroda reiterated that he sees no urgent need for further easing right now. Reuters reported, at a press conference in Lima, he said 'many advanced nations have a price target of 2 percent and it's true actual inflation is below that level. But most of this is due to declines in oil and commodity prices; I don't think there's a need to rush into action at this point.'
Trading is expected to be thin with some bids seen at 119.90/00 and more below at 119.70/80 with stops building up below there whilst initial offers are noted at 120.50/60, suggesting choppy trading would be seen till European open.
Data to be released this week:
France current account on Monday. Market holiday in Japan and Canada.
Australia NAB business conditions, NAB business confidence, China trade reports, Japan consumer confidence, Germany CPI, HICP and ZEW reports, Switzerland producer/import price, U.K. BRC retail sales, CPI, PPI and RPI, U.S. Redbook and Fed budget on Tuesday.
Japan CGPI, China CPI and PPI, France CPI, Italy CPI, UK average earnings, claimant count unemployment change, ILO unemployment, euro zone industrial production, Switzerland ZEW investor sentiment, U.S. retail sales and business inventories on Wednesday.
New Zealand manufacturing PMI, Australia employment change, full-time employment and unemployment rate, Japan industrial output, capacity utilization, U.S. real weekly earnings, NY Fed manufacturing, CPI and Philly Fed business index on Thursday.
New Zealand CPI, Italy trade balance, euro zone trade balance, inflation reports, Canada manufacturing sales, U.S. capacity utilization, industrial output, net long-term flows on Friday.
AceTraderFx Oct 12: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
12 Oct 2015 01:45GMT
EUR/USD - ....... Despite rallying to as high as 1.1387 at New York midday on Friday on cross-buying of euro vs sterling, price retreated to 1.1352 in News York afternoon. Later, euro staged a rebound and gained to 1.1378 at Asian open today, however, renewed selling there pressured the pair lower to 1.1365.
Since there is no major eco. data due to be released today from the eurozone, trading is likely to be thin with bids lowered to 1.1340/50 and some more below at 1.1320/30 with stops building there whilst initial offers are noted at 1.1390/00, suggesting buying on dips for near term gain is still favored.
In other news, Reuters reported, ECB's policymaker and also Bundesbank Head Jens Weidmann said the euro zone is undergoing a gradual economic recovery though downside risks to growth have increased in tandem with weakness in emerging markets.
AceTraderFx Oct 12: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
12 Oct 2015 02:15GMT
GBP/USD - ...... Despite Friday's resumption of recent uptrend to 1.5382 at European open, the British pound fell sharply to session low at 1.5300 in New York morning on active cross-selling of sterling especially vs euro.
Later, cable staged a rebound to 1.5340 in New York afternoon before retreating to 1.5305 in late New York. However, renewed support there lifted the pair and price rebounded to 1.5331 in Asian morning.
Since there is no eco. data due today, price is likely to track euro's intra-day movements in Asia with offers seen at 1.5350/60 n more above at 1.5380/90 with stops building up above there whilst initial bids are noted at 1.5280/90, suggesting choppy trading would be seen till European open.
BoE Deputy Governor Minouche Shafik on Saturday in Lima called for central banks in advanced economies to raise interest rates to discourage investors building up leverage in emerging market assets could be misguided an that it was preferable to use macroprudential tools rather than monetary policy when targeting global financial risks. She also added that the risk inherent in this build up of leverage in emerging markets has motivated calls for a normalization of advanced economy monetary policy sooner rather than later but tightening advanced economy monetary policy solely to discourage further borrowing could make the job of getting inflation back to target more difficult.
AceTraderFx Oct 12: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time:12 Oct 201501:08 GMT
EUR/USD - 1.1370
Although price has retreated after Friday's breach of last October's high at 1.1319 to 1.1387 on dovish FOMC minutes and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1387, break would yield stronger retracement of decline from 1.1460 towards 1.1405/10.
However, near term loss of momentum would keep price well below 1.1336 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
AceTraderFx Oct 12: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 12 Oct 2015 08:16 GMT
USD/JPY - 120.17
Despite Thursday's sharp retreat to 119.63, subsequent rebound helped by increased risk appetite due to the rally in global equities suggests further choppy trading above September's trough at 118.68 would continue with upside bias and gain towards 120.38, then 120.57 (reaction high) would be seen, break there would retain bullishness for 120.99/00 before prospect of a correction early next week.
On the downside, only below 119.21 would abort daily bullishness on the buck and turn outlook bearish for weakness towards 118.60/68 area.
AceTraderFx Oct 13: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
13 Oct 2015 01:00GMT
USD/JPY- 119.95... The greenback remained under pressure throughout Asia and Europe and dropped to session low at 119.90 in post European close on speculation that the Federal Reserve won't raise its rates this year. Despite a brief recovery to 120.08 ahead of Asian open, dlr met renewed selling and dropped to 119.90 in Tokyo morning.
There is no major data from U.S. today as markets will open after a long weekend due to Columbus day holiday yesterday.
Offers are now seen at 120.20/30 and more above at 120.40/50 with stops building up above there whilst initial bids are noted at 119.40/50, suggesting choppy trading would be seen.
Data to be release on Tuesday:
Australia NAB business conditions, NAB business confidence, China trade reports, Japan consumer confidence, Germany CPI, HICP and ZEW reports, Switzerland producer/import price, U.K. BRC retail sales, CPI, PPI and RPI, U.S. Redbook and Fed budget.
AceTraderFx Oct 13: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
13 Oct 2015 02:08GMT
GBP/USD- ...... The British pound traded with a firm bias in Asia and rose to session high at 1.5373 at European midday, however, failure to penetrate last Friday's high at 1.5382 triggered profit-taking and price retreated to 1.5335 in European afternoon and tumbled further at Asian open to 1.5301 on cross-selling of sterling vs euro.
UK will release its inflation data at 08:30GMT.
Street forecasts for CPI mm and yy are 0.0% and 0.0% vs previous readings of 0.2% and 0.0% respectively.
Bids have now been lowered to 1.5290/00 and more below at 1.5270/80 with stops building up below last Thursday's low at 1.5261 whilst initial offers are noted at 1.5370/80, suggesting buying on dips is favored.
AceTraderFx Oct 13: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 13 Oct 2015 01:28 GMT
EUR/USD - 1.1351
Although price has retreated after Friday's breach of last October's high at 1.1319 to 1.1387 on dovish FOMC minutes and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1387, break would yield stronger retracement of decline from 1.1460 towards 1.1405/10.
However, near term loss of momentum would keep price well below 1.1336 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
AceTraderFx Oct 13: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
13 Oct 2015 06:22GMT
GBP/USD - ..... Cable jumped from 1.5318 to as high as 1.5370 at European open on news of an announced M&A deal worth 67 billion pounds ($ 103 bln) which had started late last week.
Reuters just reported Anheuser-Busch InBev ABI.BR and SAB Miller SAB.L said on Tuesday they had agreed terms for a takeover, with the world's largest brewer set to pay 44 pounds ($68) per share in cash for its smaller rival.
After days of wrangling over price, the two firms said they had now agreed the terms in principle, with the price representing a premium of around 50 percent to SABMiller's closing price on September 14.
There is also an option for investors to take shares.
Under the terms of the deal, AB InBev would agree to a reverse break fee of $3 billion payable to SABMiller should the transaction fail due to regulatory hurdles or if AB InBev shareholders don't approve it.