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AceTraderFx Mar 3: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 03 Mar 2016 05:01GMT
EUR/USD - 1.0872
Despite euro's anticipated resumption of recent decline from Feb's 1.1377 peak to a 1-month trough of 1.0826 in New York morning after upbeat U.S. private ADP employment report, subsequent rebound to 1.0874 (Australia) suggests temporary low has been made and consolidation with mild upside bias remains, above 1.0912 (previous sup, now res) is needed to bring stronger retracement to 1.3950/60.
On the downside, below 1.0826 would yield marginal weakness towards 1.0800/10, however, loss of downward momentum should keep price well above daily sup at 1.0776 and bring a much-needed correction later today or tomorrow.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 3: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 03 Mar 2016 08:31 GMT
USD/JPY - 113.94
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and marginal gain from here is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.
On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 4: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views (USD/JPY)
04 Mar 2016 02:10GMT
USD/JPY - ..... Dollar met renewed selling at 113.76 in Australia and briefly fell to intra-day low of 113.25 after BoJ Kuroda's interest rate remarks.
In the parliament speech, Bank of Japan Governor Haruhiko Kuroda remarks on not going to pushing interest rates further into negative territory now. The BOJ stunned markets by adopting a negative interest rate policy in January to reflate the economy out of stagnation and achieve its ambitious 2 percent inflation target.
Japanese Economy Minister Nobuteru Ishihara said an advisory panel on new spending would hold its first meeting in the middle of this month and would discuss the world economy, energy and the financial sector, and that the advisory panel was not for preparation of a delay in a planned sales-tax hike.
More updates news on their speeches to come later.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 4: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
04 Mar 2016 03:30GMT
USD/JPY - .... Dlr went through a roller-coaster rise in hectic Asian trading on Friday. Despite extending recovery from yesterday's New York low of 113.20 to 113.76 ahead of Asian open, selling interest emerged n knocked price lower, dlr briefly weakened to intra-day trough of 113.25 after BoJ Gov.
Kuroda said he is not thinking of pushing interest rates further into negative territory, with lack of follow-through selling quickly lifted the pair and dlr later climbed back to 113.67 ahead of Tokyo lunch session.
Looks like indicated intra-day range would hold from here, at least until European open.
Offers are tipped at 113.65/75 with stops above 113.80, however, more selling interest is reported at 114.00/10.
Initial bids have been raised to 113.40/30 with stops touted below 113.20.
European traders are likely to keep their powder dry until release of the the world's most important economic data, the U.S. jobs report.
Street forecast for February payrolls to be 190k vs previous reading of 151K, if actual figure comes in much lower than forecast, then expect another wave of dlr selling.
Conversely, if the number is close to 200k or higher, then dlr may jump to 115.00.
Data to be released on Friday:
Australia retail sales, Italy GDP, U.K. inflation expectations, U.S. unemployment rate, non-farm payrolls, private payrolls, manufacturing payrolls, average earning, participation rate, international trade, Canada trade balance, exports, imports, labour productivity and Ivey PMI
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 4: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 04 Mar 2016 08:44 GMT
USD/JPY - 113.82
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and marginal gain from here is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.
On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 7: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
07 Mar 2016 02:00GMT
USD/JPY - ...... Despite staging an intra-day rally in post-NFP New York low of 113.12 to as high as 114.26 in New York afternoon on active cross-selling in yen, dlr pared Friday's gain and fell to 113.50 after tripping stops below 113.70 as the Nikkei opened lower on Monday, damping market's risk appetite.
Looks like said Friday's 114.26 peak would hold from here as intra-day broad-based cross unwinding in yen suggests selling dlr on recovery is favoured.
Offers are noted at 113.85/95 n more at 114.00 with stops above 114.30.
Some bids are reported at 113.50-40 with stops touted below 113.10.
BoJ Gov Kuroda will be speaking at at a forum hosted by Japan's Yomiuri newspaper at 03:40GMT.
Data to be released:
Japan leading economic index, coincident index, Germany factory orders, Italy producer prices, Eurozone investor confidence and U.S. employment trend on Monday.
New Zealand manufacturing sales, Japan GDP, trade balance, current account, economy watcher poll, consumer confidence index, Australia business confidence, business conditions, China imports, exports, trade balance, Swiss unemployment rate, CPI, U.K. retail sales, Germany industrial production, France imports, exports, trade balance, current account, Eurozone GDP, Canada building permits, housing starts, U.S. Redbook and economic optimism on Tuesday.
Australia consumer sentiment, Japan machine tool orders, France nonfarm payroll, U.K. manufacturing output, GDP estimate, industrial output, U.S. mortgage application, wholesale inventories, wholesale sale, Canada rate decision, New Zealand rate decision on Wednesday.
Japan domestic corporate goods price index, Australia inflation expectation, China producer price index, consumer price index, Germany export, import, trade balance, current account, France industrial output, U.K. housing survey, Eurozone interest rate decision, U.S. initial jobless claims, Canada new housing price index and capacity utilization on Thursday.
New Zealand manufacturing PMI, Germany consumer price index, Harmonised index of consumer prices,
Italy industrial output, U.K. construction output, good trade balance, Canada unemployment rate, employment change, participation rate, U.S. import prices, export prices and Reuters/University of Michigan consumer sentiment index on Friday.
China retail sales and industrial production on Saturday.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 7: Intra-Day Market Moving News and Views (EUR/USD)
Intra-Day Market Moving News and Views
07 Mar 2016 03:04GMT
EUR/USD - ...... Euro trades narrowly with a soft bias in subdued Asian morning after Fri's intra-day rally from post-NFP New York morning at 1.0904 to as high as 1.1044.
Price has edged lower in NZ and Australia on Monday due to lack of follow-through buying, suggesting sideways trading below said Friday's 1.1044 temp. top would continue.
Some bids are noted at 1.0970-60 with stops touted below 1.0950, however, more stops are reported below 1.0900.
On the upside, some offers are tipped at 1.1000/10 and more above with stops above 1.1045.
Pay attention to release of a slew of European data with Germany kicking off with Jan factory orders at 07:00GMT, then Italy's PPI and later EU Sentix Mar investor confidence index.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 7: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 07 Mar 2016 04:00 GMT
EUR/USD - 1.0993
Although euro's retreat after Friday's rally from 1.0904 to as high as 1.1044 in post-U.S. jobs data New York morning session suggests upmove from last Wednesday's 1-month bottom at 1.0826 has made a temporary top and expect initial consolidation before extending aforesaid rise to 1.1060/68, loss of momentum should cap price below 1.1100/05.
Expect 1.0960/70 to hold and yield such move and only below 1.0904 would signal said correction from 1.0826 over, risk weakness to 1.0848/81 next.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates .
AceTraderFx Mar 7: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 07 Mar 2016 09:05 GMT
USD/JPY - 113.62
Despite the greenback's rally to 114.56 last Tuesday, subsequent sharp retreat to 113.12 last Friday on poor U.S. wage growth data suggests further choppy trading below February's high at 114.88 would continue with mild downside bias and marginal weakness towards 112.80/90 is likely to be seen.
However, as broad-outlook remains consolidative, reckon price would hold well above support at 112.38 and yield rebound.
On the upside, only above 114.56 would revive bullishness for a re-test of 114.88, break would confirm erratic upmove from 110.99 has once again resumed and extend towards 115.30/40.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Mar 8: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
08 Mar 2016 03:04GMT
USD/JPY - ...... Dlr tumbles in hectic Tokyo session as broad-based weakness in Asian stocks triggered active buying of yen on risk aversion.
The pair met renewed selling at Asian open at 113.52 n decline accelerated once stops at 113.10 were tripped, price later weakened to 112.75.
The lack of a short-covering bounce suggests market is eager to test dlr's downside, so selling the pair on recovery is the way to go.
Offers have been lowered 113.00/10 and more above with stops touted above 113.55.
Some bids are noted at 112.70-66 with more stops below there.
Data to be released on Tuesday included:
New Zealand manufacturing sales, Japan GDP, trade balance, current account, economy watcher poll, consumer confidence index, Australia business confidence, business conditions, China imports, exports, trade balance, Swiss unemployment rate, CPI, U.K. retail sales, Germany industrial production, France imports, exports, trade balance, current account, Eurozone GDP, Canada building permits, housing starts, U.S. Redbook and economic optimism
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates