Intraday trading signal - page 10
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USD/JPY Daily Outlook by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY
USD/JPY :+91.02+
Last Update At 22 Dec 2009 00:45 GMT
Dlr's o/n breach of 90.91 in part due to cross
selling in yen signals recent upmove has resumed n
further headway to 91.30 n 91.60/70 is seen but
anticipated o/bot condition has increased risk of a
retreat later.
Buy on dips with stop as indicated, below wud
defer n yield pullback to 90.45/50.
Range Forecast
+90.90 / 91.20+
Resistance/Support
R: 91.34/91.63/92.33
S: 90.91/90.60/90.15
USD/JPY Intraday Signal ny AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY
USD/JPY : 91.82
Last Update At22 Dec 2009 23:05 GMT
Dlr has traded with a firm undertone after yes-
terday's resumption of upmove due to cross-selling
in yen n further headway to 92.00 is seen but near
term loss of momentum shud prevent strg gain beyond
92.33 n risk has increased for a retreat later.
Buy on dips with stop as indicated, below defers
n yields pullback to 91.10/20 b4 up.
Range Forecast
91.60 / 92.00
Resistance/Support
R: 92.00/92.33/92.55
S: 91.30/90.91/90.60
Market Outlook by AceTrader
Market Review - 22/12/2009 21:37 All times in GMT
Dollar extends recent rally as U.S. home sales exceed forecasts
The greenback continued its recent strength against other major currencies on Tuesday, supported by year-end unwinding of short dollar positions and also demand for the greenback and forecast of stronger growth for the world's largest economy. Although low U.S. interest rates have weighed on the dollar this year, increasing its attractiveness as a funding currency to buy assets with higher returns, recent improvements in U.S. data have led to cutting of short dollar positions when investors think the Federal Reserve may start to tighten monetary policy before Q2 2010.
U.S. final GDP for the 3rd quarter was revised down to 0.4% from 0.5%, suggesting the U.S. economy grew at a slower pace than initially thought.
Earlier, the single currency recovered from Asian low of 1.4265 to 1.4333 in European morning, however, renewed selling interest pushed the oair back down and price hit another 3-month low of 1.4218 later in NY before a recovery was seen due to profit-taking.
Elsewehere, U.K. final GDP came in at -0.2% q/q, slightly weaker than economists' forecast of 0.1% q/q n 5.1% y/y drop. Although cable rose to 1.6100 in Asia, traders dumped cable after the data on active cross selling in sterling and the British pound tumbled to a 2-month low of 1.6023 later in NY before stabilizing.
Despite a brief retreat to 91.00 in early Asia, the greenback maintained a firm undertone against the yen on dollar's broad-based strength due to the firmness in global stock markets on Tuesday (Dow and S&P closed the day up 50 points and 3.9 points respectively). Usd/jpy hit another one-month high at 91.88 in NY afternoon. In other news, U.S. home sales in October rose by 7.4% to 6.54 million, much higher than expected.
Data to be released on Wednesday include New Zealand GDP, Eurozone industrial order, Canada GDP, US personal income, PCE core, PCE index, U. Michigan survey, new home sales. Wednesday is a market holiday in Japan.
Recent Recommended Trades by AceTrader
*****************************************************
Update Time: 23 Dec 2009 15:31GMT
EUROPEAN CLOSING GBP/USD OUTLOOK - +1.5985+
Despite trading narrowly in Asia n Europe, intra
-day rally in euro suggests further consolidation
abv y'day's temp. low at 1.5923 wud continue with
'mild' upside bias but abv 1.5992 needed to bring a
stronger retrace. of recent downtrend twd 1.6032.
Hold long for 1.5985 1st with stop below said
sup, break may risk 1.5900 b4 correction occurs.
Rate: +1.5985+
Strategy: +Target met+
Position: Long at 1.5945
Objective: 1.5985
Stop-Loss:
Resistance: 1.5992/1.6053/1.6100
Support: 1.5923/1.5857/1.5800
****************************************************
Update Time: 23 Dec 2009 15:21GMT
EUROPEAN CLOSING EUR/USD OUTLOOK - +1.4325+
Euro's early firm breach of Asian high at 1.4276
suggests recent downtrend has possibly made a temp.
low y'day at 1.4218 n gain to 1.4315 is now envisa-
ged, however, abv 1.4333 is needed to confirm this
view n yield further subsequent rise twd 1.4373.
Turn long on dips for 1.4315 n only a firm break
of 1.4250 wud indicate rebound is over, 1.4234.
Rate: +1.4325+
Strategy: +Target met+
Position: +Long at 1.4285+
Objective: 1.4325
Stop-Loss:
Resistance: 1.4333/1.4373/1.4412
Support: 1.4250/1.4234/1.4218
***************************************************
Update Time: 23 Dec 2009 02:25GMT
USD/SGD DAILY OUTLOOK - +1.4105+
Usd's rally abv 1.4052 signals upmove fm 1.3780
(09') remains in force n upside bias is seen for
further gain to 1.4105, however, 1.4143 shud hold.
Trade fm long side n only below 1.4025 indicates
temporary top has been formed, risks 1.4002 later.
Rate: +1.4105+
Strategy: +Target met+
Position: Long at 1.4055
Objective: 1.4105
Stop-Loss:
Resistance: 1.4143/1.4186/1.4224
Support: 1.4052/1.4025/1.4002
***************************************************
Market Outlook by AceTrader
Market Review - 23/12/2009 21:35 All times in GMT
Dollar retreats on profit-taking after U.S. new home sales hit seven-month low in November
The greenback weakened against G7 currencies yesterday as report showed sales of U.S. new homes unexpectedly fell last month, raising concern that the U.S. recovery may be fragile. U.S. new home sales fell by 11.3% to a seven-month low of 0.355 million units in November, denting optimism about the economy. Trading was very light with Tokyo closed for a national holiday. Many traders had already squared their existing positions for the upcoming Christmas holidays (Japan is opened on 25th )and year-end.
U.S. Treasury official said treasury is considering using $30 billion in TARP funds for small business lending program. The single currency rebounded on active pre-holiday short-covering from European low of 1.4234 and price rallied to as high as 1.4366 in NY afternoon before stabilizing.
BOE Minutes of the Dec. 9-10 meeting showed all nine members of Monetary Policy Committee voted to keep interest rates at a record low of 0.5% and maintain the 200 billion pound asset buying programme in December. Policy makers expected growth to return in the fourth quarter of this year. After the news, cable rebounded from European low of 1.5924 to 1.5995 in NY before retreat due to profit-taking.
The greenback declined against the yen in thin pre-holiday trading. The pair hit intra-day high of 91.88 in European morning but was unable to penetrate previous day's high of 91.88 and retreated to 91.31 in NY morning before rebound. In other news, China's central bank affirmed it will maintain an appropriately loose monetary policy next year.
Australian dollar, New Zealand dollar and Canadian dollar (together known as the commodity currencies) all rose against the greenback on Wednesday as crude oil advanced (oil prices rose 3%) and gold staged a recovery after recent steep fall. All three pairs hit their highs of 0.8818, 0.7065 and 1.0470 respectively against the usd in NY afternoon.
Data to be released on Thursday include Japan BOJ minutes, U.S. durable goods and jobless claims. Thursday will be a bank holiday in Germany.
Market Outlook by AceTrader
Market Review - 24/12/2009 21:10 All times in GMT
Dollar retreats on Christmas eve as U.S. data show signs of improved economy
The greenback declined on Thursday, retreating from three-month highs against a basket of currencies despite better-than-expected durable goods orders and initial jobless claims which showed confidence is increasing in U.S. economy. The ICE Futures U.S. dollar index, which measures the dollar against other currencies, fell 0.1%.
U.S. durable goods rose by only 0.2% versus the expectation of 0.5% rise. U.S. jobless claims came in at 452,000, less than economists' forecast of 470,000.
The single currency extended its correction of recent decline on Thursday. Despite a holiday in Germany, euro climbed in European morning and price hit an intra-day high of 1.4419. However, euro was unable to substain intra-day strength and retreated to around 1.4350 in NY afternoon session (U.S. stock market only opened for the morning session) before stabilizing.
The British pound rose in tandem to 1.6023 in European morning on active short-covering in thin trading on Christmas Eve as many traders were away. Cable later retreated sharply to an intra-day low of 1.5925 (2 ticks above Tuesday's low of 1.5923) in NY morning on active crossing selling in sterling with eur/gbp rising from 0.8970 to 0.9019. Sterling's weakness was partly attributable to reports that some investors were concerned that U.K. elections next year could lead to rare political deadlock.
The greenback rebounded strongly against the yen from Asian low of 91.13 and the pair eventually rose to intra-day an high of 91.79 in NY before retreating due to profit taking.
Data to released on Friday include Japan unemployment rate, household spending, national CPI, housing starts and construction orders. Friday will be market holiday for all G7 countries except Japan.
Market Outlook by AceTrader
Market Review - 28/12/2009 21:21 All times in GMT
Dollar gains on bets U.S. recovery will boost appeal of U.S. assets
The dollar rose against the yen in year-end positioning but traded little changed against the euro on Monday in holiday-thinned trade as investors had mixed opinion on the prospects of further gains after recent rally. The greenback also gained on speculation that U.S. consumer confidence, due out on Tuesday, will show improvement in December, encouraging the Federal Reserve to end emergency stimulus measures in 2010. The dollar index, a measure of performance against six other major currencies, was steady at 77.61, off a 3-1/2-month high of 78.45 set last week.
Despite euro's initial weakness to 1.4350 in Asian opening, dragged down by decline in the pound, price rebounded from there after meeting renewed buying. The single currency later hit an intra-day high of 1.4414 in European morning before retreating in NY session.
The British pound went through a choppy Asian session, partly attributed to holidays in New Zealand, Australia and the U.K. Cable fell to 1.5932 in Asian morning and later rebounded to 1.6018 in NY afternoon before stabilizing.
European stock markets marked fresh 14-month highs Monday. In Paris, the CAC-40 rose 0.9% to 3,947.15, above its previous 14-month closing high of 3,912.73 set Dec. 24. The German DAX index climbed 0.8%, breaking through the 6,000 barrier for the first time since September 2008. The strength in European and Asian stocks markets supported risk appetite and the greenback benefited. Despite initial choppy move in Asian morning (price briefly rebounded to 91.42 before retreating back to 91.45), the pair traded narrowly in European and NY sessions.
Gold recovered after finding support at $1,101 an ounce, reaching as high as 1113.80. Crude oil soared and hit $ 79.12 a barrel, the highest price in a month. The commodity currencies (Australian Dollars, New Zealand Dollars and Canadian Dollars) benefited from the strength of these raw materials and all three of them rose against the greenback. The three currencies hit their intra-day highs of 0.8892, 0.795 and 1.0419 against the dollar respectively in NY session.
Data to release on Tuesday include Japan manufacturing PMI, Germany CPI prelim and U.S. Consumer confidence.
AUD/USD Market Outlook by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM :
AUD/USD: 0.8863
Last Update At 28 Dec 2009 22:54 GMT
Despite y'day's resumption of recent upmove to
0.8892 in Europe, aud has ratcheted lower n 0.8860
(previous res, now sup) needs to hold for prospect
of subsequent gain to 0.8915 but loss of momentum
wud cap price below res at 0.8939.
Remain as cautious buyer, stop as indicated,
below signals top is possibly made, risks 0.8828.
Range Forecast
0.8860 / 0.8890
Resistance/Support
R: 0.8892/0.8917/0.8939
S: 0.8860/0.8828/0.8810
Market Outlook by AceTrader
Market Review - 29/12/2009 20:47 All times in GMT
Dollar rises on signs the U.S.economy is strengthening
The dollar advanced against other G7 currencies as reports showed increase in U.S. consumer confidence and home prices, encouraging speculation the Federal Reserve will proceed in withdrawing its stimulus measures.
U.S. consumer confidence came in greater-than-expected at 52.9 with consensus forecast at 52.5.
Futures trading in Chicago showed a 60 percent chance that the Fed will raise its zero to 0.25 percent target lending rate by at least a quarter-percentage point by its June 2010 meeting, up from 48 percent odds a week ago.
Earlier, the single currency found buying interest in Asian morning at 1.4354 and price rebounded. With Asian and European stocks advanced, euro later rallied to intra-day high at 1.4459 in Europe. However, better-than-expected U.S. consumer confidence heightened expectation of a rate hike by the Fed and the greenback rebounded strongly after the data. Euro then tumbled to intra-day low of 1.4350 in NY afternoon before stabilizing.
Cable started off the day trading sideways with no major data coming out of U.K. on Tuesday. Despite a brief rally to intra-day high at 1.6070 after triggering stops in European morning, the British pound quickly fell from there. Price later nose-dived after the release of U.S. consumer confidence data and hit an intra-day low of 1.5867 in NY afternoon before a minor rebound took place.
Versus the Japanese yen, the greenback continued to trade with a firm bias due to year-end demand for usd as well as the attraction of yen carry trades caused by the continued widening of rate differential between U.S. 10-year T-note and JGB (spread hit a 2-year high of 255 b.p. and 30-year T-bond futures briefly broke 114.28 support yesterday). Despite a brief dip to intra-day low of 91.52 in European morning, the pair swiftly rebounded from there and eventually breaking resistance 91.88 to 92.08 in NY afternoon before stabilizing.
Data to be released on Wednesday include Japan manufacturing PMI, Swiss KOF indicator and U.S. Chicago PMI
EUR/USD Daily Outlook by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.4325
Last Update At 30 Dec 2009 04:59 GMT
Although euro has staged a minor recovery after
meeting minor buying interest at 1.4306, a firm
break of 1.4332 (y'day's low) is needed to confirm
selloff fm 1.4459 has made a temp. low n bring pull
back to 1.4350 b4 prospect of another fall later.
For st trade, buy on dips for this rebound n
sell on further rise for day trade.
Range Forecast
1.4300 / 1.4330
Resistance/Support
R: 1.4366/1.4395/1.4419
S: 1.4300/1.4276/1.4218