Intraday trading signal - page 119
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
AceTraderFx Sept 16: Intra-Day News & Views USD/JPY
Intra-Day Market Moving News and Views
16 Sep 2014
USD/JPY- ..... anticipated comments from BoJ Governor Kuroda, quote:
Business fixed investment is expected to continue its moderate increasing trend as corporate profits are expected to continue improving on the whole.
Exports are expected to head for a moderate increase, there are signs of pickup.
while there are concerns including geopolitical risks in some parts of the world, the global economy is likely to continue recovering.
Disinflationary trend a matter of concern in euro area, but area's economy likely to continue recovering moderately due to ecb steps.
Some geopolitical risks, including those in ukraine and iraq, still warrant attention.
CPI likely to reach boj's price target of 2 percent around the middle of the current projection period from fiscal 2014 through 2016.
If outlook changes due to manifestation of risks and it is judged necessary for achieving the price stability target, boj will make policy adjustments without hesitation.
Japan's economy has thus been on a path suggesting that the 2 percent price stability target will be achieved as expected, although we are only halfway there.
Japan's economy has continued to recover moderately as a trend.
Employment and income situation has continued to improve steadily, and household sentiment has been improving.
Virtuous cycle from income to spending has been operating steadily in both household and corporate sectors.
Effects of decline in demand following april sales tax hike have gradually begun to wane on the whole.
Even since before the tax hike in april this year, the boj's outlook for economic activity and prices has factored in the two rounds of consumption tax hikes.
Output has recently shown some weakness, exports have lacked momentum
AceTraderFx Sept 17: Intra-Day News & Views (USD/CAD) & data to be released today
Intra-Day Market Moving New and Views USD/CAD
17 Sep 2014 USD/CAD
Yesterday the news conference by Bank of Canada, Poloz's views & statement:
Bank of Canada is neutral on interest rates;
Poloz: asked about dropping neutral bias, says will give all the new data full consideration at next monetary policy report.
What happens next on the economy is still a big question mark for us.
Still a strong case for waiting and seeing.
Housing sector's bounce back from winter was a little more rigorous than we expected to see.
Base case remains that pieces are in place for gradual reduction in household imbalances.
Could take a year for jobs to return after pickup of exports.
Believes there is some slack in job market not measured by jobless rate, but it is hard to measure.
Estimates about 200,000 youth have withdrawn from workforce, maybe another 100,000 in prime age category are discouraged.
Canadian rates are already higher than U.S. rates.
Earlier news: "the Bank of Canada is not trying to manipulate or even guide markets as to the value of the Canadian dollar" Governor Stephen Poloz said on Tuesday, adding that this gives the bank freedom not to match possible U.S. interest rate hikes.
"floating rates helped Canada ride the tides of the global economy without overheating or unduly slowing."
"Trying to hold the dollar constant would give us larger fluctuations in unemployment, output and inflation, and in the end would not help us maintain our international competitiveness."
Many analysts have suggested Poloz, former head of Export Development Canada, prefers a weak currency in order to boost the exports, are needed to take over from households as the driver of growth. The Canadian dollar has fallen 7 percent against the U.S. greenback since he took office.
Wednesday will see the release of New Zealand's current account, Bank of England minutes, U.K. average earnings, claimant count unemployment, ILO unemployment, Swiss ZEW investor sentiment, eurozone inflation, U.S. core CPI, CPI, current account, NAHB housing market index, FOMC rate decision and monetary policy statement.
AceTraderFx Sept 17: Intra-Day News & Views (USD/JPY)
Intra-Day Market Moving New and Views
17 Sep 2014 USD/JPY
The former Ministry of Finance official Eisuke Sakakibara, who was known as "Mr. Yen" for his efforts to influence exchange rates in the mid 1990s, said in an interview in Tokyo on Tuesday that the yen will fall to 110 per dollar as early as this year, hurting Japan's economy as wages lag behind inflation driven by higher import costs.
"The negative side of a weak yen is evident in an economy that is struggling,". "I'm not a proponent of the 2 percent inflation target. As long as the growth rate is high, it doesn't matter if price gains are near zero.'
"The Japanese economy isn't all that bad, so the yen won't just keep on weakening," he said. "It's not going to fall to 130 or 140 per dollar."
Trading the greenback was tricky on Tuesday as price swung wildly.
Despite rebounding from Asian 106.93 low to 107.33 at European open after comments from BOJ governor Kuroda, price briefly dropped to a session low of 106.81 in NY on WSJ webcast saying the Fed will stick to near-zero rate language on Wed. Later, rally in the Dow to record high boosted risk sentiment, dlr rebounded to to 107.22 and then 107.28 shortly after Asian open, helped by gain in Nikkei in Tokyo morning (currently up 17 points to 15928).
Dlr's overnight rebound suggests buying on dips is still the favoured stragtegy but sharp gain beyond last Friday's 6-year peak at 107.40 is unlikely ahead of the release of Fed's latest policy statements (18:00GMT) and then Fed Chair Yellen's press conference. Bids are placed at 107.10-00 and then 106.85/80 with stops emerging below 106.60, whilst offers from various are noted at 107.40-50 and further out at 107.75/80 with stops emerging just above 108.00.
Market expects the Fed to keep interest rate at ultra-low level on Wednesday and to cut its monthly bond-buying program to $15 bln from $25 bln. Investors are hoping to see a timetable as to when U.S. interest rates may rise and focus more on wording the closing of its bond-buying program.
AceTraderFx Sept 17: Intra-Day News & Views EUR/USD
Intra-Day Market Moving New and Views
17 Sep 2014
EUR/USD - ...... Although euro remained under pressure in Asia and briefly dipped to 1.2945 at European open, renewed broad-based weakness in dlr lifted price to 1.2957.
Investors are reluctant to add bets before the release of euro zone inflation data at 09:00GMT and range trading below yesterday's high of 1.2995 should continue. Bids are touted at 1.2940-30 and around 1.2920 with stops emerging below 1.2900, whilst offers are placed at 1.2975/80 n then 1.2990-00 with stops noted just above 1.3000.
Earlier, The single currency moved in volatile fashion on Tue. Despite initial retreat fm Asian high at 1.2962 to 1.2923 in European morning, euro bounced to 1.2967 n then climbed to fresh 1-1/2 week peak at 1.2995 in NY as traders cited WSJ webcast saying Fed will stick to near-zero rate language. Later, euro dropped to 1.2950 in Australia n then marginally to 1.2949 shortly after Asian open on renewed broad-based strength in greenback b4 moving sideways.
Today, eurozone will release a slew of inflation data and market expects the readings to pick up last month, however, economists are skeptical about how successful the latest measures fm ECB will be. Until then, range trading is envisaged.
Bids are placed at 1.2940-30 n around 1.2920 with stops emerging below 1.2900, whilst offers are located at 1.2975/80 n then 1.2990-00 with stops noted just above 1.3000.
AceTraderFx Sept 17: Daily Technical Outlook & Trading Ideals on GBP/USD
DAILY GBP/USD TECHNICAL OUTLOOK
Last Update At 17 Sep 2014 00:31GMT
Trend Daily Chart
Down
Daily Indicators
Turning up
21 HR EMA
1.6247
55 HR EMA
1.6257
Trend Hourly Chart
Near term up
Hourly Indicators
Bearish divergences
13 HR RSI
55
14 HR DMI
+ve
Daily Analysis
Consolidation with upside bias
Resistance
1.6395 - Prev. hourly sup (now res)
1.6340 - Sep 05 high
1.6310 - Y'day's high
Support
1.6205 - Last Fri's low
1.6162 - Y'day's low
1.6125 - Hourly chart sup
. GBP/USD - 1.6256... The pound went through a rollar-coaster session on Tue due to market jitters ahead of Thur's Scottish referendum. Cable penetrated last Fri's 1.6205 low to 1.6162 in Europe but later jumped to as high as 1.6310 in NY due to dollar's broad-based weakness but briefly dipped to 1.6240.
. Looking at the hourly n daily charts, y'day's strg rebound to 1.6310 due to dlr's broad-based weakness together with active unwinding in cable suggests corrective rise fm last Wed's low at 1.6052 to retrace MT downtrend fm Jul's near 6-year peak at 1.7192 remains in progress n abv 1.6310 wud bring stronger gain to 1.6340 res (Sep 05 post-U.S. NFP high), however, high readings on hourly oscillators shud cap price below 1.6415/18 (38.2% r of 1.7001-1.6052 n 61.8% r of 1.6645-1.6052 respectively) n yield decline later. On the downside, below 1.6162 anytime wud confirm said correction fm 1.6052 is over instead n bring weakness to 1.6125 but 1.6052 shud hold until referendum results are known.
. Today, as current price is trading abv 21-hr n 55-hr emas, buying cable on dips in anticipation of further gain is cautiously favoured but profit shud be taken on subsequent rise.
AceTraderFx Sept 18: Intra-Day News & Views (USD/JPY) & data to be released today
Intra-Day Market Moving New and Views
18 Sep 2014 02:12GMT
USD/JPY - ..... Statement from Japan Deputy Chief Cabinet Secretary, quote:
'no truth to report Japan will announce stronger sanction on Russia tomorrow;
will take appropriate action focusing on coordination with G7, on sanctions vs Russia.'
Japan's MoF, their FinMin Taro Aso and U.S. Treasury Secretary Jack Lew will hold a bilateral meeting on Fri ahead of a weekend gathering of finance leaders in Cairns, Australia.
The ministry said that the 2 sides will likely discuss the ECO. situations of their countries as well as the world economy.
Reuters reported the meeting will take place after the dollar broke above 108 yen, a 6-year high versus the Japanese currency, although it was unknown if the two finance chiefs would discuss currencies.
Thursdaywill see the release of New Zealand's GDP, Japan's import, export and trade balance, China's house prices, Swiss trade balance and interest rate decision, U.K. retail sales, CBI trends, U.S. building permits, housing starts, initial jobless claims, Philly Fed business index and U.K. Independence referendum.
AceTraderFx Sept 18: Intra-Day Market Moving News & Views GBP/USD
Intra-Day Market Moving New and Views
GBP/USD - .... Cable jumps ahead of European open.
Despite trading sideways in Asia following Wed's sharp retreat from a fresh 1-week high of 1.6358 to 1.6247 (AUS), traders noted a wave of broad-based buying by European early birds near 1.6260/65, price rallied to intra-day high of 1.6325.
As cable's intra-day up move was not news-driven and Scottish polling station are to open at 06:00GMT for voters to cast their votes (until 21:00GMT), choppy range trading is likely to continue.
Some offers are tipped at 1.6325/35 and more above with stops touted above 1.6360. Some bids are noted at 1.6270-60 and more below with stops below 1.6240.
Earlier comments by Treasury Secretary Jack Lew who said the United States will closely follow the Scottish independence vote on Thursday because it has potentially big economic consequences.
Lew told students on Wed "we think a strong, united UK is important as the UK has been one of our best and most reliable partners for a very long time."
He added "it's an internal debate within the UK right now but obviously there are potentially significant economic ramifications." He said "we're all watching with great interest what happens tomorrow."
AceTraderFx Sept 18: Daily Technical Outlook & Trading Ideals on EUR/USD
DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 18 Sep 2014 00:35GMT
Trend Daily Chart
Down
Daily Indicators
Rising fm o/s
21 HR EMA
1.2910
55 HR EMA
1.2935
Trend Hourly Chart
Down
Hourly Indicators
Rising fm o/s
13 HR RSI
28
14 HR DMI
-ve
Daily Analysis
Resumption of MT downtrend
Resistance
1.2943 - Y'day's Euroepan morning low
1.2909 - Last Fri's n Mon's low
1.2860 - Last Tue's low (now res)
Support
1.2835 - Intra-day low (Australia)
1.2772 - 61.8% proj. of 1.3221-1.2860 fm 1.2995
1.2745 - Apr 2013 low
. EUR/USD- 1.2858... Despite euro's brief bounce fm 1.2943 to 1.2981 in NY morning after the release of lower-than-expected US CPI data, the single currency nose-dived to 1.2898 after the release of dovish Fed's policy statement n price later weakened to a fresh 14-month trough of 1.2835 in Australia.
. Looking at the hourly n daily charts, y'day's of last Tue's 1.2860 low to 1.2835 confirms MT downtrend fm May's 2-1/2 year peak at 1.3995 to retrace entire LT rise fm 2012 bottom at 1.2042 (Jul) has once again resumed n further weakness to 1.2790/95 is now envisaged after minor consolidation, however, as the hourly oscillators' readings are in oversold territory, reckon 1.2788, being 61.8% proj. of intermediate fall fm 1.3221-1.2860 measured fm 1.2995 wud limit downside n yield a much-needed rebound later. Looking ahead, euro is poised to re-test of previous daily sup at 1.2745 (Apr 2013) later this month n only abv 1.2909 signals at temp. low is made n may risk stronger retrace. twd 1.2985/95.
. Today, in view of abv bearish analysis, selling euro on intra-day recovery is the way to go as 1.2880/90 shud cap upside, however, profit shud be taken on subsequent decline.
AceTraderFx Sept 19: Intra-Day News & Views (GBP/USD) & data to be released today
Intra-Day Market Moving New and Views
19 Sep 2014 01:10GMT
GBP/USD- .... Cable continues to climb to intra-day high of 1.6523 after 2nd local council result (total 32) from Orkney Islands showed 'No' won by 67% vs 'Yes' at 33%.
Reuters reported results from smaller councils will appear before larger ones (for obvious reasons), big cities of Glasgow, Edinburgh & Aberdeen are expected to come around 04:00GMT.
Earlier, Cable rises again in Asia on Bloomberg TV news reporting the 1st local council (32 in total) results from Clackmannashire which showed 'No' won by 53.8% vs 'Yes' at 46.2% in the Scottish Independence referendum.
Fridaywill see the release of Germany's producer prices, eurozone current account, Canada's core CPI, CPI inflation and wholesale trade and U.S. leading index.
AceTraderFx Sept 19: Intra-Day Market Moving News and Views USD/JPY
Intra-Day Market Moving News and Views
19 Sep 2014
USD/JPY- ...... Dlr continues its recent winning streak and surged to a fresh 6-year peak of 109.45 shortly after Tokyo open as intra-day rally in the Nikkei (currently up by 235 points at 16302) boosted risk sentiment, leading to broad-baesd selling in the yen.
Although price has pared intra-day gain ahead of Tokyo lunch session, buying on dips is the way to go, however, it is advisable to take profit ahead of 110.00 as profit-taking below this 'rumoured' option barrier is expected ahead of the weekend.
Although no major U.S. data are due out today, traders may stand aside later on in NY session ahead of the September 20-21 G20 meeting in Cairns, Australia.
Bids are noted at 109.10-00, 108.90/85 and then 108.70-60 with stops emerging below 108.50.
On the upside, offers from various accounts are placed at 109.50-70 region and further out at 109.90-00.
Earlier Japan gov't said 'cut overall economic view, saying economy in moderate recovery while weakness seen in some areas; cuts view on private consumption, saying it is seen recently although pick-up trend remains intact.'