Intraday trading signal - page 251

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AceTraderFx Apr 28: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK

Update Time: 28 Apr 2016 09:03 GMT

USD/JPY - 108.33

Dollar's intra-day more than 3 percent decline from Asian high of 111.88 to as low as 108.06 in European after unchanged BoJ's rate decision confirms correction from April's 17-month trough at 107.63 has ended on Monday at 111.91 and consolidation with downside bias would be seen.

However, break of said sup is needed to confirm Medium Term downtrend has resumed and extend weakness towards 106.90/00 later.

On the upside, only a daily close above 109.40/50 would indicate further choppy sideways would continue and yield gain towards 109.90/00 before retreat occurs.

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AceTraderFx Apr 29: Data to be released today

More intraday updates on will come next.

Data to be released on Friday:

New Zealand building permits, business confidence, Australia producer price index,

France GDP, CPI, producer prices, Germany retail sales, U.K. Gfk consumer confidence, Italy unemployment rate, CPI, producer price index, Eurozone CPI, unemployment rate,

U.S. personal consumption, personal income, adjusted consumption, personal consumption expenditures, employment cost, Chicago PMI, the Reuters/University of Michigan consumer sentiment index,

Canada GDP, producer price index and raw materials prices.

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AceTraderFx Apr 29: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views

29 Apr 2016 03:18GMT

EUR/USD - ....... Although euro retreated after a brief rise to a session high of 1.1368 in Europe on Thursday, price rebounded from 1.1310 in New York due to renewed broad-based weakness in usd and later climbed to 1.1363 in o/n New York, then 1.1366 shortly after Asian open on Friday.

Main focus for the single currency today will be on the release of euro zone's inflation and GDP data at 09:00GMT.

Having said, investors should also take note to the release of Germany's retail sales, France's CPI, GDP and PPI, and Italy's CPI earlier in European session.

As price has edged higher after Asian open, suggesting consolidation with upside bias would be seen, so, buying the eur/usd pair on dips is recommended.

At present, bids are noted at 1.1350-40 and then 1.1330-20 with stops below there, whilst offers are reported at 1.1380-90 and more at 1.1400-1.1410 with stops above 1.1430.

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AceTraderFx Apr 29: Intra-Day Market Moving News and Views (GBP/USD)

Intra-Day Market Moving News and Views

29 Apr 201 04:00GMT

GBP/USD - ...... The British pound moved in a similar fashion with euro's intra-day swing on Thursday. Although price rallied from Asian low at 1.4524 to 1.4619 in European morning and then retreated to 1.4541, price rose to a fresh session high of 1.4623 in New York and then marginally higher to 1.4638 after Asian open, despite a release of weak Gfk Consumer Confidence earlier.

Today, Bank of England Deputy Governor Jon Cunliffe will speak at the First Single Resolution Board Conference 'Charting the course: making bank resolution work' at 12:00GMT, whilst Bank of England Executive Director for Resolution Andrew Gracie will be a panelist at the First Single Resolution Board Conference at 07:30GMT.

At the moment, bids are noted at 1.4610-00 and then 1.4590-80 with mixture of bids and stops at 1.4570-50 region, whilst offers are reported at 1.4640-50 and more at 1.4670-80 with stops above there.

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AceTraderFx Apr 29: Intra-Day Market Moving News and Views- EUR/USD

Intra-Day Market Moving News and Views

29 Apr 2016 08:18GMT

EUR/USD- ..... Reuters reported German retail sales dropped by 1.1 percent in March, their biggest monthly fall in 1-1/2 years, casting a shadow over expectations that consumer spending will propel growth in Europe's largest economy as foreign trade weakens.

The volatile indicator, which is often subject to revision, confounded expectations in a Reuters poll for a 0.3 percent rise on the month, data from the Federal Statistics Office showed on Friday. The data for February was revised up to an unchanged reading from a previously reported fall of 0.4 percent.

On the year, retail sales climbed by 0.7 percent in real terms, a marked slowdown compared with an upwardly revised increase of 5.5 percent the previous month. Economists polled by Reuters had expected a much stronger rise of 2.2 percent.

While Italy's unemployment rate fell to 11.4 percent in March, the lowest since December 2012, as some 90,000 jobs were created from the month before, data showed on Friday in a boost for Prime Minister Matteo Renzi.

March's jobless rate was below all five forecasts in a Reuters survey of analysts which had pointed to 11.7 percent. February's rate was revised down slightly to 11.6 percent from a previously reported 11.7 percent.

March's data brings the number of those in work back to January's level, ISTAT said, after 87,000 jobs were lost in February. In the first quarter as a whole, employment was up by a modest 17,000 compared with the last quarter of 2015.

The youth unemployment rate, measuring job seekers between 15 and 24 years old, fell sharply in March to 36.7 percent from 38.2 percent in February, to hit its lowest since October 2012.

Italy's overall employment rate, which is one of the lowest in the euro zone, rose in March to 56.7 percent from 56.5 percent the month before.

Renzi adopted a contested labour reform last year easing firing restrictions in large firms and offering temporary fiscal incentives for employers who offer workers permanent contracts rather than temporary ones.

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AceTraderFx May 19: Intra-Day News and Views & data to be released today (USD/JPY)

Intra-Day Market Moving News and Views 
19 May 2016 03:02GMT

USD/JPY - 110.24... Dlr trades with a firm undertone in Tokyo trading after o/n rally to a near 3-week high of 110.26 following release of 'hawkish' FOMC minutes which indicated a rate rise in June is still on the cards if upcoming U.S. data show decent strength on the economy.

Yesterday's close above the psychological 110.00 res bodes well for recent dlr bulls as a weekly close above this level would generate 'buy signal' on many momentum-tracking trading models. Therefore, buying dlr on dips is the way to go. Bids are noted at 110.00-109.90 area and more below with stops below 109.50.
Some offers are tipped at 110.40/50 with stops touted above there.

Some light U.S. data are due out later today and if weekly U.S. jobless claims data continues to show strength in the labour market, then expect further buying on the dlr.

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AceTraderFx May 18: Japan government won't change it's scheduled sales tax unless a crisis similar to collapse of Lehman Brot

 

[B]Intra-Day Market Moving News and Views
18 May 2016[/B]   [I]05:30GMT[/I]  

Today in Parliament Japanese Prime Minister Shinzo Abe stressed again that there is no change to his plan of proceeding with a scheduled sales tax hike next year unless a crisis of the scale of the collapse of Lehman Brothers, or a huge earthquake, hits the economy. While he pointed out that Japan's private consumption has been weaker than expected since it was hit by the first sales tax hike in 2014. 

The Japanese government's annual economic growth strategy calls for measures to boost consumption on the assumption it will go ahead with a sales tax hike scheduled for next year, a draft obtained by Reuters showed on Wednesday. 
The document, however, may do little to temper speculation that the government will delay the tax increase scheduled for April 2017 amid lingering concern that consumer spending is struggling due to low wages for part-time workers. 
 
Japan's top government spokesman and economics minister have repeatedly denied a report in the Nikkei newspaper over the weekend that a delay in the tax hike is a done deal. 
Economists say Japan's patchy growth and worries about a global slowdown could eventually force the government to reverse its official position and avoid placing an extra burden on households. 
 
Prime Minister Shinzo Abe's government is set to compile its growth strategy later on Wednesday, which will feature previously announced policies such as an increase in the minimum wage, better pay for day care workers and steps to narrow the pay gap between regular and part-time employees. 
 
The government is scheduled to raise the sales tax to 10 percent from 8 percent next April. 
The planned increase has already been delayed once after an increase to 8 percent from 5 percent in April 2014 hit consumption and knocked the economy into recession. 
 
Japan will host a Group of Seven finance ministers and central bankers summit from Friday. Abe has said he wants to use the meeting as a platform to promote more expansive fiscal policy, which economists say makes a sales tax delay more likely. 


 

AceTraderFx May 19: Daily Recommendations on Major -EUR/USD 

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 19 May 2016 01:50 GMT 

EUR/USD - 1.1225
Yesterday's break of last week's 1.1283 low to 1.1256 in European morning and then subsequent selloff after hawkish FOMC minutes to a 6-*week trough of 1.1206 (Reuters) in Australia today confirms decline from May's 8-month peak at 1.1617 has once again resumed and expect 1.1256 to hold, yield further weakness towards next chart objective at 1.1144 which should hold on 1st testing today. 

On the upside, only a daily close above 1.1283 signals a temporary low is in place, then risk is seen for a stronger retracement towards 1.1349 before of another fall next week. 

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AceTraderFx May 18: Intra-Day Market Moving News and Views- EUR/USD   

 

Intra-Day Market Moving News and Views   
19 May 2016   03:48GMT

  EUR/USD - ...... The single currency is nursing loss in subdued Asian trading following o/n selloff n then weakness to a 6-week low of 1.1206 (Reuters) in Australian morning following hawkish Fed minutes.  
 
Technically speaking, yesterday's daily close below last week's 1.1283 low (now res) bodes ill for the euro as such price action confirms recent decline from May's 8-month peak at 1.1617 has resumed, so selling the pair on intra-day recovery is the way to go. 

Offers are tipped at 1.1240/50 n more above with stops above 1.1300. Some bids (profit-taking) are reported near 1.1200/1.1190 with more stops touted below there. 
 

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AceTraderFx May 20: Daily Recommendations on Major -EUR/USD 

 DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 20 May 2016 01:50 GMT 

EUR/USD - 1.1302
Despite staging a recovery in New York session on Thursday after intra-day resumption of recent decline from May's 8-month peak of 1.1617 to a 7-week trough of 1.1180 on minor short covering, outlook remains bearish for aforesaid fall to resume after consolidation.
However, near term loss of downward momentum should keep price above daily sup at 1.1144 today. 

On the upside, only a daily close above 1.1256 (previous sup, now res) confirms temporary low is in place and risks stronger retracement towards 1.1288/93 before prospect of another fall next week.

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

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