Intraday trading signal - page 204
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AceTraderFx Oct 26: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 26 Oct 2015 08:34 GMT
USD/JPY - 120.89
Despite the greenback's rally from October's low at 118.06 to 121.51 today, subsequent strong retreat suggests a temporary top has been made there and consolidation with downside bias would be seen for weakness towards 120.77, below would add credence to this view and yield stronger retracement towards 120.20/23.
However, steep fall below there is unlikely to be seen and reckon support at 119.61 would remain intact and yield rebound later.
On the upside, only above 121.51 would revive bullishness for gain towards daily resistance at 121.74, break would extend towards 122.10/15.
AceTraderFx Oct 27: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
27 Oct 2015 00:46GMT
USD/JPY - ....... The greenback met profit-taking offers at 121.51 yesterday in Australia and continued to ratchet lower in Asia and Europe, eventually falling to session low at 120.60 in New York morning. Dlr briefly recovered to 120.10 in New York afternoon.
However, renewed selling interest capped recovery and price fell sharply at Tokyo open to 120.77 on broad-based buying of JPY.
There is a slew of U.S. eco. data to be released today, including durable goods, building permits, CaseShiller house prices, Services PMI n consumer confidence. Pay particular attention to the consumer confidence at 14:00GMT. Street forecast is for a slight decrease to 102.5 from previous reading of 103.0.
Offers are now lowered to 121.00/10 and more above at 121.20/30 with stops building up above there whilst bids are noted at 120.40/50 and more below at 120.20/30, suggesting initial downside bias would be seen but position traders should look to buy on intra-day dips.
Data to be released on Tuesday:
New Zealand trade balance, Switzerland UBS consumption indicator, UK GDP (prelim), U.S. durable goods orders, Redbook, building permits (revised) and consumer confidence.
AceTraderFx Oct 27: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 27 Oct 2015 01:09 GMT
EUR/USD - 1.1045
The single currency's selloff last week on dovish comments from ECB President Mario Draghi to 1.0997 on Friday, then lower to 1.0989 yesterday signals the erratic decline from August's high at 1.1715 has once again resumed and consolidation with downside bias would be seen for further weakness towards 1.0960/70.
However, over sold condition would keep price above support at 1.0938 and yield a much-needed recovery later this week.
On the upside, only above 1.1296 would be the 1st signal that a temporary low has been made and yield stronger retracement towards 1.1319/20.
AceTraderFx Oct 27: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 27 Oct 2015 08:26 GMT
USD/JPY - 120.42
Despite the greenback's rally from October's low at 118.06 to 121.51 today, subsequent strong retreat suggests a temporary top has been made there and consolidation with downside bias would be seen for weakness towards 120.20/23, below would add credence to this view and yield stronger retracement towards 119.80/90.
However, steep fall below there is unlikely to be seen and reckon support at 119.61 would remain intact and yield rebound later.
On the upside, only above 121.51 would revive bullishness for gain towards daily resistance at 121.74, break would extend towards 122.10/15.
AceTraderFx Oct 28: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
28 Oct 2015 01:11GMT
USD/JPY - ........ The greenback met renewed selling interest at 120.74 at European open n dropped to session low at 120.16 at New York open and continued to remain under pressure for remainder of the New York session as the Federal Reserve concludes its 2-day meeting today and announces its rate decision.
Despite a brief rebound to 120.55 at Tokyo open, dlr fell again to 120.24 in Tokyo morning on broad-based buying of jpy.
Mkt shifts to Fed's rate decision at 18:00GMT, however, it is widely expected there won't be any rate hike this month due to underlying concerns over a slowdown in China and the broader impact on global growth.
Offers are now seen at 120.50/60 and more above at 120.70/80 with stops building up above there whilst initial bids are noted at 119.90/00, suggesting downside bias would be seen, hence selling on intra-day pullback is favored.
Data to be release on Wednesday:
Japan retail sales, Germany Gfk consumer sentiment, France consumer confidence, Italy consumer confidence, business confidence, U.S. goods trade balance, and Fed's interest rate decision.
AceTraderFx Oct 28: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
28 Oct 2015 02:00GMT
GBP/USD -......... The British pound met selling interest at 1.5359 in Asian morning and fell sharply to 1.5309 in European morning after data showed Britain's economic recovery slowed more than expected in the three months to September.
Price continued to ratchet lower and hit an intra-day low at 1.5283 in New York morning. However, cable pared its losses and staged a short-covering rebound to 1.5317 in New York afternoon. The pair has continued to trade in sideways manner in early Asian trade but yesterday's data should weigh on cable and pressure it lower.
Since there is no eco. data due today, price is likely to track euro's intra-day movements, however, traders should keep an eye on eur/gbp cross as well.
Offers are now seen at 1.5320/30 and more above at 1.5340/50 with stops building up above there whilst initial bids are noted at 1.5250/60, suggesting selling on recovery for a resumption of recent downtrend is still favored.
AceTraderFx Oct 28: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time:28 Oct 2015 03:05 GMT
EUR/USD - 1.1037
The single currency's selloff last week on dovish comments from ECB President Mario Draghi to 1.0997 on Friday, then lower to 1.0989 on Monday signals the erratic decline from August's high at 1.1715 has once again resumed and consolidation with downside bias would be seen for further weakness towards 1.0960/70.
However, over sold condition would keep price above support at 1.0938 and yield a much-needed recovery later this week.
On the upside, only above 1.1296 would be the 1st signal that a temporary low has been made and yield stronger retracement towards 1.1319/20.
AceTraderFx Oct 28: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 28 Oct 2015 08:13 GMT
USD/JPY - 120.41
Despite the greenback's rally from October's low at 118.06 to 121.51 today, subsequent strong retreat suggests a temporary top has been made there and consolidation with downside bias would be seen for weakness towards 120.20/23, below would add credence to this view and yield stronger retracement towards 119.80/90.
However, steep fall below there is unlikely to be seen and reckon support at 119.61 would remain intact and yield rebound later.
On the upside, only above 121.51 would revive bullishness for gain towards daily resistance at 121.74, break would extend towards 122.10/15.
AceTraderFx Oct 28: Daily Technical & Trading Outlook EUR/USD
DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 28 Oct 2015 00:15GMT
Trend Daily Chart
Down
Daily Indicators
Fallng
21 HR EMA
1.1045
55 HR EMA
1.1061
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
41
14 HR DMI
-ve
Daily Analysis
One more fall b4 correction
Resistance
1.1140 - Last Fri's high
1.1123 - 38.2% r of 1.1326-1.0997
1.1079 - Y'day's high
Support
1.1004 - Mon's NY low
1.0989 - Mon's fresh 2-month low (Reuters)
1.0938 - 61.8% r of 1.0457-1.1715
. EUR/USD - 1.1031... Euro moved in erratic fashion in directionless Tue's session ahead of Wed's FOMC anouncement. Price climbed to 1.1072 in Europe b4 easing to 1.1036. Euro then rose to 1.1079 in NY but only to retreat to 1.1030.
. Looking at the daily picture, despite euro's erratic rise fm Sep's 1.1087 trough to 1.1495 in mid-Oct, last Fri's firm breach of this key sup n daily close below there bodes ill for the single currency in the coming weeks as this move signals early fall fm Aug's 7-month peak at 1.1715 has finally resumed. The next downside obj. are pointing at 1.0938, then 1.0808, being 61.8% r of medium-term rise fm 2015 12-year bottom at 1.0457 (Mar) to 1.1715 n Jul's low respectively. Therefore selling euro on recovery is the way to go as 1.1200 is expected to hold yield subsequent fall to indicated targets n only abv 1.1306 (previous sup, now res) would abort current very bearish outlook on euro.
. Today, as long as said y'day's 1.1079 high holds, one more fall to 1.0960/70 may be seen, however, as hourly technical indicators would display prominent 'bullish convergences' on such move, 1.0938 should hold n bring correction.
Abv 1.10789 would bring stronger retracement twd 1.1100/10 b4 another fall.
AceTraderFx Oct 29: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
29 Oct 2015 01:12GMT
USD/JPY - ........ Despite a brief spike down to 120.02 post FOMC's unchanged rate decision, the greenback surged to 121.26 in New York afternoon on an unexpectedly hawkish Fed, who said a rate hike in December is still on the table. However, price pared its gains and retreated to 120.91 near New York close, then ratcheted lower to 120.59 at Tokyo open on broad-based buying of jpy after the release of upbeat industrial output eased pressure on the BoJ to add to its stimulus measures.
The BoJ began its 2-day meeting today n will announce its rate decision tomorrow. Although it is widely expected that the central bank will not add to its already huge stimulus program, traders should pay attention to the language used by Kuroda in his press conference for an forward guidance.
Bids have now been lowered to 120.30/40 n more below at 120.10/20 with stops building up below there whilst initial offers are noted at 121.20/30, suggesting choppy sideways trading would be seen.
Data to be released on Thursday:
New Zealand RBNZ rate decision, Japan industrial output, industrial production, Australia exports and imports, UK Nationwide house price, Germany unemployment reports, CPI and HICP, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, U.S. jobless claims, and pending home sales.