Intraday trading signal - page 218
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AceTraderFx Dec 18: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
18 Dec 2015 00:44GMT
GBP/USD -....... Cable staged a short-covering rebound to 1.4930 ahead of Asian open after conciliatory comments by U.K. PM Cameron, and continued its recent decline on renewed market jitter of a 'Brexit'.
David Cameron wants Britain to stay in the EU, but has hinted he could campaign for an exit if he fails to win an agreement that can reduce the influx of EU migrants, improve business competitiveness, give more sovereignty back to Britain and protect London's banks from discrimination by the euro zone.
His proposal to make European immigrants to Britain wait four years before claiming "in-work" benefits - income supplements to people in lower paid jobs - has been roundly criticised for breaking EU law banning discrimination.
An EU aide said Tusk wanted to give everyone a chance to speak their mind on Thursday night with a view to seeking a deal at the next summit in mid-February. Poland, Hungary, Slovakia and the Czech Republic, known as the Visegrad Group, said in a statement they would reject any British demand to change EU laws that would mean discrimination against their citizens or limit their freedom of movement.
Cameron presented his four-year proposal, but made clear that he was open to other ways to better control immigration to Britain. An EU diplomat said Cameron had earlier sat in silence for more than three hours while other EU leaders debated how to deal with a wave of migrants that has divided European governments. Britain has refused to take in any from Europe.
AceTraderFx Dec 18: Intra-Day News and Views (USD/JPY)
Intra-day Market Moving News and Views
18 Dec 2015 04:14GMT
USD/JPY- ..... Dlr swung 'wildly' after BoJ kept its rate decision unchanged as widely expected, however, the central bank surprised the market by extending its QE programme period, the pair fell initially to 122.36 abd then 'jumped' to intra-day high of 123.57 when the QE change was announced.
However, price then tumbled to 122.18 shortly afterwards.
Reuters then reported the Bank of Japan maintained its base money target under its massive stimulus programme on Friday but decided to expand the types of assets it purchases, targeting longer-dated government bonds and increasing its purchases of risky assets.
In a split vote, the BOJ set up a new programme buying exchange-traded funds and said it would extend the maturity of government bonds it buys to around 12 years, beginning next year.
The BOJ said the new measures were adopted to supplement the effects of its existing quantitative and qualitative easing programme.
BOJ Governor Haruhiko Kuroda will hold a news conference at 3:30 p.m. (06:30 GMT) to explain the policy decision.
AceTraderFx Dec 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 18 Dec 2015 03:09 GMT
EUR/USD - 1.0837
Despite a brief spike down to 1.0888 after the Federal Reserve hiked its interest rate by 25 bps for the first time in nearly a decade, the single currency rose to 1.1012.
However, euro's selloff again in volatile trading to 1.0803 in New York yesterday suggests the corrective decline from Tuesday's high at 1.1060 has resumed and consolidation with downside bias would be seen for further weakness towards 1.0780/90 before prospect of a recovery.
On the upside, only above 1.0959 would indicate the 1st leg of correction is over and turn outlook bullish for gain towards 1.1012 but aforesaid high should hold on 1st testing.
AceTraderFx Dec 21: Intra-Day News and Views (USD/JPY)
Intra-day Market Moving News and Views
21 Dec 2015 1:01GMT
USD/JPY - ...... Dlr trades narrowly in early Asian morning on Monday following last Friday's intra-day sharp selloff from 123.57 (post-BOJ's rate decision's high) to as low as 121.06 in Europe.
Traders were perplexed by the intra-day 'wild' swings as market later came to the conclusion the BoJ effectively did not change its QQE programme after extending the maturity period of its bond purchases.
Despite present sideways move, Friday's 2% drop in the Dow and intra-day weakness in the Nikkie (currently down 366 points) should spur more yen-buying on risk aversion, so selling the greenback of recovery is favoured.
At present, offers are noted at 121.40/50 and more at 121.70/80 with some stops touted above 122.00. Some bids are reported at 121.10/00 with stops below there.
AceTraderFx Dec 21: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
21 Dec 2015 01:12GMT
EUR/USD- ....... Euro gained respite on Friday and staged a short-covering rise to 1.0875 in New York afternoon. Although short-term specs sold the pair in Australia on Monday after news of Spain's ruling party won in Sunday's election but short of a majority, ending the 2-party ruled.
Looks like sideways trading above last ThursdAY's 1-week low at 1.0802 would continue and market is trying to test the upside.
However, offers reported at 1.0875/85 (some stops are building above 1.0900) may well cap Friday's rebound and euro would ratchet lower in European session.
Initial bids are noted at 1.0850 and more below with stops below 1.0800.
AceTraderFx Dec 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time:21 Dec 2015 00:17 GMT
EUR/USD - 1.0870
Although Friday's rebound from 1.0805 to 1.0875 suggests further choppy sideways trading above last week's low (Thur) at 1.0802 would continue, as long as overhead res area at 1.0878-88 holds, euro's decline from last Tuesday's 6-week peak at 1.1060 would resume after consolidation and yield marginal weakness to 1.0775/85 before prospect of a rebound later today or tomorrow, loss of momentum should keep price well above 1.0750.
On the upside, a firm rise above 1.0905 (previous sup, now res) would signal aforesaid fall from 1.1060 has a low and bring stronger retracement to 1.0935/45.
AceTraderFx Dec 22: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
22 Dec 2015 01:21GMT
USD/JPY- ........ Dlr pares yesterday's intra-day decline from 121.51 (Europe) to 120.84 ahead of New York midday as the greenback weakened broadly after release of weaker-than-expected Chicago Fed activity index.
However, rebound in the Dow boosted risk sentiment and triggered yen-selling.
Despite initial retreat from Australian high of 121.27 to 121.08, renewed yen-selling emerged and pushed the pair higher, suggesting consolidation above 120.84 would be seen with upside bias. Having said that, pay attention to key U.S. Q3 GDP n PCE data later today.
For now, bids are noted at 121.10-00 with stops below 120.80, however, good buying interest is touted above Dec's low at 120.35. On the upside, offers are reported at 121.50/60 and more above with stops above 121.80.
Data to be released on Tuesday:
China leading economic index, Germany consumer confidence survey, Swiss exports, imports, trade balance, U.K. consumer confidence, public sector net borrowing, U.S. GDP, PCE, Redbook, housing price index, existing home sales and Richmond Fed manufacturing index
AceTraderFx Dec 22: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
22 Dec 2015 01:37GMT
EUR/USD- ........ Euro was unfazed by weekend's Spanish election result in Monday's trading where ruling party lost majority.
Price met renewed buying at 1.0848 and climbed on downbeat U.S. Chicago Fed activity index, price penetrated Asian 1.0883 high to 1.0909, then later to session high of 1.0939 on continued broad-based short-covering in the euro.
Today, despite initial retreat to 1.0905/06 in early Asian trading, buying interest emerged and has lifted the pair, suggesting intra-day upside bias remains for further gain.
A mixture of selling interest and stops is reported at 1.0940 and more stops are touted above 1.0940.
Initial bids are noted at 1.0905-00 with some stops below 1.0880.
Pay attention to German Gfk Jan consumer confidence index at 07:00GMT, street forecast is looking for a reading of 9.3 vs the previous month reading 9.3.
AceTraderFx Dec 22: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time:22 Dec 2015 07:45 GMT
USD/JPY - 121.17
Although dollar's rebound from yesterday's 120.84 low made in New York following downbeat U.S. data suggests early selloff from last Friday's 4-week peak at 123.59 has made a temporary low and consolidation with mild upside bias is seen ahead of release of key U.S. GDP data later today, reckon 121.76 would cap dollar's upside and yield marginal weakness, loss of momentum should keep price above last week's bottom at 120.35 and bring stronger correction later this week.
On the upside, only above said res at 121.76 may risk stronger gain to 122.25/35, however, reckon 122.54 (61.8% r of 123.59-120.84) should cap rebound and yield subsequent decline.
AceTraderFx Dec 23: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
23 Dec 2015 00:35GMT
USD/JPY - ...... Dlr remained under pressure in Tuesday's trading in Europe on Tuesday and weakened to session lows of 120.72 after a surprisingly large drop in U.S. existing home sales (Nov's 10.5% fall represents the steep decline in 5 years).
However, gain in the Dow prompted renewed yen-selling, lifting the pair back up to 121.10 right at New York close.
With Japanese financial markets closed today for Emperor's birthday, narrow moves in the dlr majors are expected until European open.
However, pay attention to release of a slew of U.S. data later today, especially November durable goods data at 13:30GMT, street forecast is looking for a 0.6% drop following previous month's reading of 2.9%, a worse-than-expected reading would trigger more dlr selling.
For now, bids are noted at 120.80-70 and more below (possibly from Japanese importers) with stops building below December's low at 120.35. On the upside, initial offers are reported at 121.10/20 and more at 121.30/40 with stops above 121.50.
Data to be released on Wednesday:
New Zealand imports, exports, trade balance, U.K. nationwide house price, GDP, current account, France GDP, consumer spending, Swiss KOF indicator, Italy industrial sales, industrial order, retail sales, U.S. mortgage applications, build permits, consumption, PCE, durable goods, personal income, personal consumption, new home sales, Reuters/ University of Michigan consumer sentiment index, Canada GDP and retail sales.