Intraday trading signal - page 217
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AceTraderFx Dec 15: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
15 Dec 2015 02:00GMT
EUR/USD- ...... The single currency rose from European morning low at 1.0946 to as high as 1.1049 at New York midday on euro-supportive comments by ECB President Mario Draghi (see previous MMN).
However, lack of follow-through buying triggered profit-taking n price retreated to 1.0985 at New York close. Euro found some support there and staged a minor rebound to 1.1006 at Asian open.
Pay attention to the release of Germany ZEW current conditions n economic sentiment at 10:00GMT. Street forecasts are 54.2 and 15.0 vs prevoius readings of 54.4 and 10.4 respectively.
Offers are now seen at 1.1020/30 and more above at 1.1040/50 with stops building up above there whilst initial bids are noted at 1.0950/60, suggesting mild downside bias remains ahead of European open.
AceTraderFx Dec 15: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 15 Dec 2015 01:05 GMT
EUR/USD - 1.0997
The single currency's rise above previous high at 1.0981 to 1.1043 last Wednesday on dollar's broad-based weakness signals upmove from last December's fresh 7-1/2 month trough at 1.0523 has resumed and consolidation with upside bias would be seen for gain towards 1.1070/80.
However, loss of momentum would prevent strong gain above there and reckon resistance at 1.1119 would remain intact and yield retreat.
On the downside, a daily close below support area at 1.0770/80 would suggest 1st leg of correction is over, then risk of a stronger retracement towards 1.0752 (50% r) can't be ruled out before prospect of another rise next week.
AceTraderFx Dec 15: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time:15 Dec 2015 08:18 GMT
USD/JPY - 120.67
The greenback's selloff below last Wednesday's low at 121.07 to as low as 120.58 on Friday on dollar's broad-based weakness, due partly to the selloff in global equities signals the decline from November's 12-week peak at 123.77 has resumed and consolidation with downside bias remains for weakness towards 120.20/30.
However, loss of momentum should keep price above 120.02 this week and yield rebound later.
On the upside, only above 121.87 would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain to 122.30 (previous support, now resistance).
AceTraderFx Dec 16: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
16 Dec 2015 01:28GMT
USD/JPY- ...... Despite initial retreat to session low at 120.58 at European open, the greenback rallied in European morning and rose to intra-day high at 121.79 in New York afternoon before easing as the release of in-line U.S.
CPI data supported the Fed's view to hike its rates. Renewed buying at 121.59 in Australia pushed the pair up to 121.90 at Tokyo open.
Traders are now gearing up for the release of Fed's rate decision at 19:00GMT and then Yellen's press conference at 19:30. It is widely expected that the central bank will raise rates by 25 bps but one should pay attention to the press conference as Yellen would outline how the bank would go about hiking rates in the future.
Bids are now seen at 121.40/50 and more below at 121.10/20 with stops building up below there whilst initial offers are noted at 122.10/20, suggesting near term upside bias remains.
Data to be released on Wednesday:
New Zealand current account, inflation expectations, Australia leading indicator, France manufacturing flash PMI, service flash PMI, Germany manufacturing flash PMI, service flash PMI, Eurozone manufacturing flash PMI, service flash PMI, trade balance, inflation, U.K. average earnings, average week earning, claimant count unemployment change, unemployment rate, Swiss investor sentiment, U.S. mortgage applications, build permits, housing starts, industrial output, capacity utilization, manufacturing PMI, Fed fund target rate and overall net capital flows
AceTraderFx Dec 16: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
16 Dec 2015 2:01GMT
EUR/USD - ....... Although the single currency rose to session high at 1.1060 at European open yesterday, price tumbled in European morning and hit an intra-day low at 1.0905 in New York afternoon on dlr's broad-based rally as speculation over a Fed rate hike increased.
Later, euro pared its losses and staged a short-covering rebound to 1.0943 in Asian morning today.
There is a slew of manufacturing and services PMIs due from the eurozone today (France, Germany n EU) but one should pay particular attention to the final reading of EU inflation mm and yy.
Street forecasts are -0.2% and 0.1% vs prevoius readings of 0.1% and 0.1% respectively.
Offers are now seen at 1.0950/60 and more above at 1.0970/80 with stops building up above there whilst initial bids are noted at 1.0880/90, suggesting selling on pullback is favored.
AceTraderFx Dec 16: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
16 Dec 2015 03:11GMT
GBP/USD - ....... The British pound traded in sideways manner throughout Asian n Europe yesterday and briefly edged up to session high at 1.5186 in New York morning.
However, broad-based rally in dlr triggered a selloff and price hit an intra-day low at 1.5030 near New York closing. Cable pared its losses and staged a short-covering rebound to 1.5054 in Asian morning today.
Pay attention to the release of UK claimant count and ILO unemployment rate at 09:30GMT.
Street forecasts are 1.5K n 5.3% vs previous readings of 3.3K and 5.3% respectively.
Offers are now seen at 1.5160/70 and more above at 1.5180/90 with stops building up above there whilst initial bids are noted at 1.4990/00, suggesting selling on recovery for a resumption of recent downtrend is favored.
AceTraderFx Dec 16: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 16 Dec 201508:12 GMT
USD/JPY - 121.94
Despite the greenback's selloff to 120.35 on Monday, subsequent rebound on increasing speculation that the Federal Reserve will hike its rate later today suggests the corrective fall from November's 12-week peak at 123.77 has ended there and consolidation with upside bias would be seen for gain towards 122.26/30.
However, near term loss of momentum should keep price below 122.46/50, yield retreat.
On the downside, only below 121.07 would indicate aforesaid recovery has ended and turn outlook bearish for weakness to 120.58.
AceTraderFx Dec 17: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
17 Dec 2015 01:36GMT
USD/JPY - ....... Despite a brief rise to 122.30 immediately after the Fed hike its rate by 25 bps, the greenback fell sharply to 121.38 as Fed Chief Yellen painted a more cautious picture about future rate hikes.
However, renewed buying there lifted the pair and dlr rallied to 122.43 near New York closing, then higher to 122.55 at Tokyo open and continues to trade with a firm bias.
U.S. will release its jobless claims read at 13:30GMT.
Street forecast is for a drop to 375K from previous figure of 382K.
Bids are now raised to 122.20/30 and more below at 122.00/10 with stops building up below there whilst initial offers are noted at 123.00/10, suggesting buying on intra-day dips is the favored strategy.
Data to be released on Thursday:
New Zealand GDP, Japan adjusted merchandise trade balance, merchandise trade balance total, exports, import, foreign investment in japan stocks, foreign bond investment, France business climate, Germany IFO current assessment, IFO expectations, IFO business climate, Italy global trade balance, trade balance EU, U.K. retail sales, retail sales ex-fuel, CBI industrial trends survey, Eurozone construction output, U.S. current account, initial jobless claims, continuing jobless claims, Philadelphia Fed manufacturing survey, CB leading indicator.
AceTraderFx Dec 17: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
17 Dec 2015 02:00GMT
EUR/USD - ...... The single currency briefly spiked down to 1.0888 after the Fed hiked its interest rate by 25 bps before rallying to intra-day high at 1.1013 on comments from Yellen during her press conference.
However, renewed selling there sent the pair lower and euro tumbled to 1.0866 ahead of Asian open, then lower to 1.0854 in Asian morning.
Price continues to remain under pressure and edge lower steadily.
Pay attention to the release of IFO expectations and business climate at 09:00GMT.
Street forecasts are 105.0 and 109.0 vs previous readings of 104.7 and 109.0 respectively.
Offers are now lowered to 1.0880/90 and more above at 1.0910/20 with stops building up above there whilst initial bids are seen at 1.0800/10, suggesting selling on pullback is the way to go.
AceTraderFx Dec 17: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 17 Dec 2015 02:03 GMT
EUR/USD - 1.0875
Despite a brief spike down to 1.0888 after the Federal Reserve hiked its interest rate by 25 bps for the first time in nearly a decade, the single currency rose to 1.1012.
However, euro's selloff again in volatile trading to 1.0866 in Australia today suggests the corrective decline from Tuesday's high at 1.1060 has resumed and consolidation with downside bias would be seen for further weakness towards 1.0830 before prospect of a recovery.
On the upside, only above 1.0959 would indicate the 1st leg of correction is over and turn outlook bullish for gain towards 1.1012 but aforesaid high should hold on 1st testing.