Intraday trading signal - page 221
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AceTraderFx Jan 5 : Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 05 Jan 2016 09:09 GMT
USD/JPY - 119.21
Despite yesterday's intra-day sharp selloff below 120.01 sup (now res) to an 11-week trough of 118.70 due to active buying of yen on risk aversion following intra-day global stock market rout, subsequent short-covering rebound in New York to 119.50, then 119.70 in Asia suggests choppy sideways trading is in store, as long as said Asian high holds, outlook remains mildly bearish for weakness to 118.60/70, however, near term loss of momentum should keep dollar well above daily chart sup at 118.06 (Oct low).
On the upside, only a daily close above 120.01 confirms temporary low is finally made and risks stronger correction to 120.47.
AceTraderFx Jan 6: Intra-day Market Moving News and Views (GBP/USD)
Intra-day Market Moving News and Views
06 Jan 2016 1:10GMT
GBP/USD- ...... The pound continues its recent losing streak on Tuesday and fell to a near 9-month low of 1.4638 after market fear of a 'Brexit' grew after allowed his minister to campaign to leave the EU. Reuters reported
British Prime Minister David Cameron on Tuesday bowed to pressure to allow government ministers to campaign to leave the European Union in an upcoming referendum, heading off the prospect of multiple resignations from his top team.
Cameron wants to keep Britain in the bloc if he can persuade other EU leaders to agree to his demands for reform before a vote expected to take place later this year, though he has cautioned he could campaign to leave if he doesn't get a deal.
His move to prevent cabinet-level resignations over Europe means ministers will take opposing sides in the referendum campaign over an issue that has divided Cameron's Conservative Party for more than three decades.
Cameron said he hoped to reach a deal with other EU leaders at a Feb 17-18 summit. Ministers would be expected to stick to the government's existing position until a deal was reached. A referendum could follow about four months after a deal.
A British exit would rock the Union - already shaken by differences over migration and the future of the euro zone - by ripping away its second-largest economy, one of its top two military powers and by far its richest city, London.
Pressed by lawmakers over his own future, Cameron - who has said he will not lead his party into the next parliamentary election due in 2020 - said he would not resign in the event of a 'no' vote in the EU referendum.
Europe played a major part in the downfall of two previous Conservative prime ministers, Margaret Thatcher and John Major.
Around a third of Cameron's lawmakers may be at least toying with the idea of a British exit while up to a third of the cabinet - including Home Secretary Theresa May, Business Secretary Sajid Javid and Work and Pensions Secretary Iain Duncan Smith - have expressed Eurosceptic sentiments. Cameron's former coalition partners the Liberal Democrats accused him of putting "internal party strife" above the national interest in letting ministers campaign for either side.
Nigel Farage, the leader of Britain's anti-EU UK Independence Party, said Cameron had been forced into the move to hold his party together in the short term. "He has stopped an explosion but longer term it is going to be very split by this issue," Farage told the BBC.
Data to be released on Wednesday:
Australia AIG services index, China service PMI, France consumer confidence, service PMI, Italy service PMI, Germany service PMI, Eurozone service PMI, producer prices, U.K. service PMI, Canada imports, exports, trade balance, U.S. mortgage applications, employment change, trade balance, service PMI, durable goods, non-defense capital and factory orders.
AceTraderFx Jan 6: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
06 Jan 2016 03:03GMT
USD/JPY - ...... Dlr resumed recent decline and fell briefly but sharply from 119.17 (AUS) to a fresh 11-week trough of 118.45 as news of China authority to extend share share ban triggered another wave of yen-buying on risk aversion.
As price has stabilised after said intra-day selloff, suggesting consolidation is in store.
However, as the Nikkei has continued to weaken, immediate short-covering rebound in the dlr is unlikely to be seen.
Offers are noted at 118.70/80 and more above with some stops reported above 119.00 and more above 119.30.
Some bids are touted above 118.50-40 and more below with stops touted below 118.00.
AceTraderFx Jan 6: Intra-day Market Moving News and Views (EUR/USD)
Intra-day Market Moving News and Views
06 Jan 2016 03:36GMT
EUR/USD - ..... Euro pares yesterday's selloff n staged a rebound to 1.0773 in Asia as intra-day selloff in dlr/yen has led to USD's weakness vs the G4 currencies.
As price has maintained a steady undertone, suggesting consolidation above yesterday's near 1-month trough at 1.0711 would be seen. Although offers are tipped at 1.0770/80, stops are touted above 1.0800 and more stops are reported above 1.0840.
Initial bids are noted at 1.0740-30 and more below with stops noted below 1.0700.
Euro was sold off aggressively yesterday after data showed EZ inflation slowed, pay attention to a slew of eco. data in Europe including France's consumer confidence, services PMIs from Italy, France, Germany & EU and then EZ PPI.
AceTraderFx Jan 6: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 06 Jan 2016 03:17 GMT
EUR/USD - 1.0763
Yesterday's selloff in Europe after data showed euro zone inflation slowed and then intra-day breach of Mon's 1.0781 low to 1.0711 in New York morning suggests recent decline from December's peak at 1.1060 to correct early strong upmove from December's 7-1/2 month bottom would pressure price to 1.0690/00 after consolidation, however, 'loss of momentum' should prevent steep fall today and risk has increased for a correction to occur later.
On the upside, a daily close above 1.0781 would signal temporary low has been made, then stronger retracement towards 1.0837/39 would be seen.
AceTraderFx Jan 6: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 06 Jan 201609:07 GMT
USD/JPY - 118.53
Despite dollar's initial decline in Asian morning as renewed weakness in the Chinese CNY to a 5-year low and geopolitical tension caused by North Korean nuclear test triggered 'broad-based' yen buying, as price has recovered after hitting a fresh 11-week bottom of 118.36, a day of consolidation is likely to be seen, above 118.90/00 would bring stronger retracement to 119.23/28 but res at 119.70 should cap upside.
Only below 118.36 risks marginal weakness, however, loss of momentum should keep price well above 2015 October's bottom at 118.06 today.
AceTraderFx Jan 7: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time:07 Jan 2016 02:49 GMT
EUR/USD - 1.0815
Despite yesterday's weakness to 1.0716, subsequent rebound to 1.0799 in post-FOMC minutes New York afternoon, then intra-day rally above this res level confirms euro's recent decline from December's 1.1060 peak has made a low on Tuesady at 1.0711 and consolidation with upside bias is seen, above res at 1.0839 would encourage for further headway towards 1.0886, reckon 1.0900/10 should hold.
On the downside, only below 1.0773/74 would dampen current bullish view on euro and may risk stronger retreat towards 1.0747 but 1.0711/16 should 'remain intact'.
AceTraderFx Jan 7: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time:07 Jan 2016 02:49 GMT
EUR/USD - 1.0815
Despite yesterday's weakness to 1.0716, subsequent rebound to 1.0799 in post-FOMC minutes New York afternoon, then intra-day rally above this res level confirms euro's recent decline from December's 1.1060 peak has made a low on Tuesady at 1.0711 and consolidation with upside bias is seen, above res at 1.0839 would encourage for further headway towards 1.0886, reckon 1.0900/10 should hold.
On the downside, only below 1.0773/74 would dampen current bullish view on euro and may risk stronger retreat towards 1.0747 but 1.0711/16 should 'remain intact'.
AceTraderFx Jan 7: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-day Market Moving News and Views
07 Jan 2016 04:22 GMT
USD/JPY - ...... Dlr swung wildly in very hectic Asian trading caused by another day of stock market turmoil. Although the pair edged higher to session highs of 118.76 shortly after Asian open, renewed selloff in the dlr/yuan plus sharp decline in Chinese shares spooked investors, leading to broad-based buying of yen on risk aversion, dlr tumbled below daily sup at 118.06 n hit a 4-month trough of 117.66/67 before stabilising.
Despite intra-day 7% limit down halt trading in the CSI300, rebound in the yuan prompted unwinding of long yen positions, dlr bounced back up to 118.24 near Asian midday.
Looks like the low print at 117.67 will probably be here to stay for the remainder of the day, however, unless we see a rebound in Asian shares n later European stocks, strong recovery in the dlr is unlikely.
For now, range trading is expected with some bids noted at 118.10-00 and more below with more stops touted below 117.60.
Offers are tipped at 118.25/35 with stops above there, however, more selling interest is reported earlier at 118.70/80.
Data to be released on Thursday:
Japan foreign bond investment, foreign invest in Japan stock, Australia building permits, imports, exports, trade balance, Swiss unemployment rate, Germany factory orders, retail sales, Italy unemployment rate, Eurozone economic sentiment, unemployment rate, consumer confidence, service sentiment, retail sales, inflation expectation, selling price expectation, U.S. initial jobless claims, Canada Ivey PMI.
AceTraderFx Jan 7: Intra-day Market Moving News and Views EUR/USD
Intra-Day Market Moving News and Views
07 Jan 2016 04:32GMT
EUR/USD - ..... Euro staged a surprise rally in Asian morning following yesterday's wild swings in European and New York sessions.
Despite initial retreat to 1.0774 at Asian open after o/n brief jump to 1.0799/00 in New York afternoon following release of mildly dovish FOMC minutes, intra-day selloff in dlr/yen triggered broad-based dlr rally vs European currencies, the pair briefly penetrated 1.0800 res after tripping stops above there and price resumed intra-day gain to 1.0826 before easing.
Euro's intra-day rise above 1.0800 suggests consolidation with upside bias would be seen in European morning.
However, do pay attention to the release of a slew of data with German factory orders and retail sales at 07:00GMT, then later we have Italy's unemployment followed by various EZ confidence index, unemployment n retail sales.
Bids have been raised to 1.0800-1.0790 and more below with stops touted below 1.0770.
Offers are reported at 1.0835/40 with stops above there.