Intraday trading signal - page 182
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AceTraderFx Aug 4: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
04 Aug 2015 08:14GMT
EUR/USD - ..... Euro rebounded after an initial fall to 1.0932 in Asia due to renewed cross-buying interest and price ratcheted higher to 1.0979 in European morning before easing.
At present, investors are awaiting the release of euro zone's producer prices for June at 09:00GMT. Street forecasts are 0.0% m/m and -2.2% y/y vs previous readings of 0.0% and -2.0% respectively.
For now, offers are noted in 1.0990-1.1000 with stops reported just above there, whilst bids are noted at 1.0950-1.0940 and more below with stops touted below 1.0920.
AceTraderFx Aug 5: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 05 Aug 2015 01:04 GMT
EUR/USD - 1.0875
Yesterday's breach of last week's low at 1.0894 ansd then daily close below there signals euro's correction from July's 12-week trough at 1.0808 has ended earlier at 1.1129 and consolidation with downside bias remains. However, break of 1.0808 needed to confirm MT decline from 1.1467 (May) has resumed and extend weakness to 1.0700 later in this month.
On the upside, a move back above 1.0988/96 would prolong choppy trading but price should falter well below resistance area a 1.1114-29 and yield another sell-off.
AceTraderFx Aug 5: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
05 Aug 2015 02:35GMT
USD/JPY- ...... Dlr rallied in NY afternoon session after comments from Atlanta Fed President Dennis Lockhart who said 'Fed is "Close" to being ready to raise short-term rates'. Price rose to 124.41 in NY afternoon n then eased to 124.26 before climbing higher to 124.48 in Asian morning on Wednesday as renewed weakness in eur/usd led to broad-based usd's strength vs its major peers.
Earlier in Asian morning on Wednesday, data showed that Japanese services sector activity expanded in July at a slightly slower pace than the previous month, suggesting only a moderate rebound in the economy after an expected contraction in the second quarter. The Markit/Nikkei Japan Services PMI fell to a seasonally adjusted 51.2 in July from 51.8 in June.
In Asia and early Europe, dlr's intra-day firmness vs Japanese yen in Tokyo morning on Wednesday suggests consolidation with upside bias would be seen and buying the pair on dips is recommended.
However, sharp gain above last week's top at 124.58 is not envisaged and price should falter below 125.00 ahead of the release of a slew of U.S. eco. reports in NY morning, these include ADP employment, U.S. international trade balance, Markit services PMI and ISM-mfg PMI.
At the moment, bids from various accounts are noted in 124.20-124.00 region with stops below 123.80 whilst some offers are tipped at 124.50-60 and more above with stop touted above 124.80.
Wednesday will see the release of New Zealand's HLFS unemployment rate and labour cost index, China's Caixin services PMI, Swiss CPI, Germany's, eurozone and U.K. Markit services PMI respectively, eurozone retail sales, U.S. ADP National employment, Canada's exports, imports and trade balance, U.S. ISM non-manufacturing PMI.
AceTraderFx Aug 5: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
05 Aug 2015 08:13GMT
GBP/USD- ...... Although cable came under renewed selling pressure at 1.5574 in Australia and then tanked to 1.5526 in Asia after tripping stops below last week's low at 1.5549, short-covering emerged there and price later climbed to 1.5588 in European morning, helped by active cross-buying in sterling vs euro.
At present, investors are awaiting the release of important UK services PMI at 08:30GMT. Market forecast is for the UK services PMI for July to come in at 58.2, a slight drop from previous month's figure of 58.5.
For now, offers are reported at 1.5590-00 and more around 1.5620 with stops above 1.5650, whilst bids are noted at 1.5550-40 with mixture of bids and stops at 1.5520-10.
AceTraderFx Aug 5: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 05 Aug 2015 08:00 GMT
USD/JPY - 124.38
Dollar's rally to 124.48 in New York afternoon on Tuesday after hawkish comments from Atlanta Fed President Dennis Lockhart signals correction from last Thursday's 7-week peak at 124.58 has ended at Friday at 123.52 and re-test of this resistance is forthcoming soon, break would confirm up-move from 120.42 (July) has resumed bring further headway towards 125.00/07 later.
On the downside, only below 123.80 would shift risk to downside for another drop to 123.52 but below there is needed to yield stronger retracement of aforesaid rise from 120.42 towards 123.01.
AceTraderFx Aug 6: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 06 Aug 2015 01:00 GMT
EUR/USD - 1.0913
Despite euro's sharp retreat from 1.0938 to 1.0850 in New York after release of upbeat U.S. services PMI and ISM non-manufacturing PMI, subsequent rebound after holding above yesterday's low at 1.0848 (Asia) suggests further choppy trading would continue.
However, as early breach of last week's bottom at 1.089 indicates correction from July's 12-week trough at 1.0808 has ended earlier at 1.1129, consolidation with downside bias remains but below 1.0808 needed to confirm MT decline from 1.1467 (May) has resumed and extend weakness to 1.0700 later in this month.
On the upside, only a move back above 1.0988/96 would shift risk to upside for stronger gain to 1.1060/70 but resistance area a 1.1114-29 should remain intact.
AceTraderFx Aug 6: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
06 Aug 2015 06:02GMT
GBP/USD - 1.5623.. Sterling has maintained a firm undertone in Asia following yesterday's strong rebound from a 2-week low of 1.5526 as market participants are bracing themselves for what many termed BoE's 'Super Thursday' where the central bank's rate decision, MPC minutes (released for the 1st time ever concurrently with the rate announcement) as well as BoE's economic outlook in its quarterly Inflation Report, will be released all at the same time at 11:00GMT, then Governor Mark Carney's press conference 45 minutes later.
It is obvious market's immediate attention is on the MPC's vote outcome. Market is expecting 2 dissenters from the 9-member policymakers, however, if this is the case, the pound may briefly climb but may not be able to penetrate July's 1.5691 top as traders have already positioned themselves long into the triple-whammy release.
In the unlikely event MPC reveals only one or no dissenter and the Inflation Report does not contain bullish outlook for the economy (you'll need to be a 'quick' reader to hit the dealing button in time), then be prepared for a 150-200 points sell-off in cable. Good luck and be nimble and be quick !
AceTraderFx Aug 6: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 06 Aug 2015 08:10 GMT
USD/JPY - 124.90
Dollar's rally above last Thursday's 7-week peak at 124.58 to 125.01 in New York on Wednesday signals upmove from 120.42 (July) has resumed and further gain is envisaged after consolidation.
However, reckon price may falter below June's near 13-year peak at 125.86 ahead of Friday's key U.S. jobs report and yield retreat later.
On the downside, only below 124.58 (previous resistance, now support) would indicate a temporary top is made and shift risk to downside for retracement towards 124.02 but support at 123.80 should remain intact.
AceTraderFx Aug 6: Daily Technical Outlook & Trading EUR/USD
DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 06 Aug 2015 00:36GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning up
21 HR EMA
1.0895
55 HR EMA
1.0911
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
61
14 HR DMI
+ve
Daily Analysis
Choppy consolidation to continue
Resistance
1.1022 - Jul 28 low
1.0988 - Tue's high
1.0938 - Y'day's high
Support
1.0848 - Y'day's low
1.0808 - Jul 20 low
1.0753 - 70.7% r of 1.0457-1.1467
. EUR/USD - 1.0912... Euro swung wildly on Wed. Despite extending Tue's decline to 1.0848 in Asia, price staged a recovery in Europe n briefly jumped to 1.0938 on weak US ADP employment data b4 tanking to 1.0850 on upbeat serv. PMI.
. On the daily chart, despite euro's marginal break of May's 1.0819 bottom to 1.0808 in Jul, subsequent rally to 1.1129 last Mon signals the early erratic fall fm May's 3-month top at 1.1467 has ended there n current 'horizontal' movement of the 13-day & 55-day emas suggests euro may continue to swing wildly in a directionless market until Fri's key US jobs data. Having said that, this week's decline n then weakness to 1.0848 y'day strongly suggests aforesaid correction fm 1.0808 is over n a a daily close below there would suggest MT rise fm Mar's 12-year trough at 1.0457 has ended, then euro would be en route to 1.0753 (being 70.7% r of 1.0457-1.1467), then next minor daily sup at 1.0660 later this month. Only abv 1.1000 defers bearish scenario on euro n risks gain twd 1.1129.
. Today, as euro has ratcheted higher at Asian open after y'day's rebound fm 1.0850 to 1.0911 in NY session, abv 1.0938 would risk stronger retrace. to 1.0950/60 but abv res area at 1.0988-96 needed to extend to 1.1022.
AceTraderFx Aug 7: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 07 Aug 2015 01:12 GMT
EUR/USD - 1.0927
Despite euro's retreat from 1.0944 to 1.0873 in Europe on Thursday, subsequent intra-day rebound after holding above Wednesday's low at 1.0848 (Asia) suggests further choppy trading would continue ahead of the release of today's key U.S. jobs report.
However, as early breach of last week's bottom at 1.0894 indicates correction from July's 12-week trough at 1.0808 has ended earlier at 1.1129, consolidation with downside bias remains but below 1.0808 needed to confirm MT decline from 1.1467 (May) has resumed and extend weakness to 1.0700 later in this month.
On the upside, only a move back above 1.0988/96 would shift risk to upside for stronger gain to 1.1060/70 but resistance area a 1.1114-29 should remain intact.