Intraday trading signal - page 225
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AceTraderFx Jan 20: Intra-day Market Moving News and Views EUR/USD
Intra-Day Market Moving News and Views
20 Jan 2016 02:02GMT
EUR/USD - ....... Despite weakening to session low at 1.0859 at European open, the single currency rebounded to 1.0889 in European morning before rallying to intra-day high at 1.0939 in New York afternoon on dlr's broad-based weakness before easing off.
Euro found renewed buying at 1.0905 n rebounded strongly in Asian morning due to active cross-buying in eur/gbp, which rose to a fresh 1-year high.
Since there is no major eco. data due today, price is likely to trade on headlines coming out of China during Asian session.
Bids are now raised to 1.0910/20 and more below at 1.0890/00 with stops building up below there whilst initial offers are seen at 1.0970/80, suggesting buying on dips for near term gain is still favored.
AceTraderFx Jan 20: Intra-day Market Moving News and Views GBP/USD
Intra-Day Market Moving News and Views
20 Jan 2016 03:06GMT
GBP/USD - ...... Despite rising to session high at 1.4340 in European morning yesterday, the British pound met renewed selling and tumbled sharply to a fresh 7-year trough at 1.4130 in New York morning, weighed down by dovish comments from BoE Governor Carney.
Cable briefly pared its losses and staged a short-covering rebound to 1.4198 in New York afternoon, renewed pressure there pushed the pair lower and price retreated to 1.4138 in Asian morning.
Pay attention to UK ILO unemployment rate and claimant count at 09:30GMT. Street forecasts are 5.2% and 2.5K vs previous readings of 5.2% n 3.9K respectively.
Traders should also look out for comments from BoE's Carney, as he is scheduled to speak at 12:00GMT on the topic of rate expectations.
Offers are now lowered to 1.4160/70 and more above at 1.4180/90 with stops building up above there whilst initial bids are noted at 1.4070/80, suggesting selling for a resumption of MT downtrend is the way to go.
AceTraderFx Jan 20: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time:20 Jan 2016 04:09 GMT
EUR/USD - 1.0918
Although euro's resumption of decline from last Friday's 2-week peak of 1.0985 to 1.0859 at European open yesterday suggests early erratic rise from January's bottom at 1.0711 suggests aforesaid upmove has formed a temporary top there and choppy sideways consolidation is in store in next 1-2 days, as long as 1.0835 sup holds, upside bias remains for another bounce to 1.0940/44 later but 1.0985 res should hold today.
On the downside, only below 1.0835 would risk stronger retracement towards previous good sup at 1.0803/05 before prospect of another rebound later this week.
AceTraderFx Jan 20: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 20 Jan 2016 08:10 GMT
USD/JPY - 116.78
Dollar's yesterday's rally above Tuesday's high at 117.44 to 118.11 in European morning, intra-day selloff and subsequent breach of last Friday's fresh 4-1/2 month trough at 116.51 signals recent erratic downtrend has resumed and consolidation with downside bias would be seen for weakness towards 116.15/20.
However, loss of momentum should keep price above support at 115.85 and yield rebound.
On the upside, only above 117.69 would indicate a temporary low has been made instead and turn outlook bullish for a stronger retracement towards 118.11.
AceTraderFx Jan 21: Intra-Day News and Views (USD/JPY) & data to be released today
Intra-Day Market Moving News and Views
21 Jan 2016 01:26GMT
USD/JPY - ...... In stark contrast to yesterday's selling pressure through Asian session, the greenback met renewed buying at 116.92 in Australia. and climbed above o/n New York top of 117.05 to as high as 117.48 in early Asia trading as intra-day recovery in the Nikkie after the Dow pared half of Wednesday's losses in the afternoon prompted continued yen-selling.
For those who had missed dlr's wild price action in Europe yesterday, price tumbled to a near 1-year trough of in Europe after tripping stops below 116.50, then 116.15.
However, market chatter of vernal warning of yen's strength by a Japanese government official attending the Davos conference in Switzerland triggered a ferocious short-covering rally to 116.97.
Despite intra-day strong retreat to 116.20 in NY due to initial selloff in U.S. stocks, subsequent rebound in the Dow squeezed out late dlr shorts.
Range trading is expected in Asia with an upside bias and intra-day broad-based rebound in Asian equities suggests buying the pair on dips is favoured.
Bids are noted at 117.10-00 and more below n some offers are touted at 117.60/70 and more above with stops building above 118.00.
Data to be released on Thursday:
New Zealand manufacturing PMI, Japan all industry activity index, France business climate, U.K. housing survey, Euro zone interest rate decision, consumer confidence, U.S. initial jobless claims and Philadelphia Fed survey.
AceTraderFx Jan 21: Intra-day Market Moving News and Views EUR/USD
Intra-Day Market Moving News and Views
21 Jan 2016 02:26GMT
EUR/USD - ...... Euro trades below yesterday's 1.0878 low in Asian trading as a late recovery in U.S. stocks (Dow closed down 249 points after having fallen over 500 points) triggered broad-based relief rally in Asian equities.
As mentioned recently, euro's intra-day price action follows inversely to the direction of global equities. In addition. investors are offloading recent long euro positions after yesterday's failure to re-test last Friday's 2-week peak of 1.0985 as market is wary of ECB President comments at post-ECB policy meeting at 13:30GMT (see 00:57GMT update for details).
Expect euro to inch lower ahead of ECB rate announcement, so selling on recovery is cautiously favoured.
Offers are tipped at 1.0890/00 and more above with stops reported above 1.0940.
Some bids are noted at 1.0860 and more below with stops building below there, however, more buying interest is reported at 1.0810/00.
AceTraderFx Jan 21: Intra-day Market Moving News and Views GBP/USD
Intra-Day Market Moving News and Views
21 Jan 2016 03:13GMT
GBP/USD - ..... Sterling is expected to gain respite in Thursday's session after yesterday's marginal weakness to a fresh 7-year trough of 1.4125 after release of mildly upbeat jobs growth but weak average earning, however, steady short-covering later lifted cable to 1.4219 in New York morning, despite a strong retreat to 1.4151 ahead of New York close, renewed buying in Australia pushed price back up to 1.4204 shortly after Asian open.
Looks like choppy sideways trading is in store and sterling's intra-day gain vs eur & yen suggests buying the pound on dips is recommended.
However, unless price can close above 1.4219 later today, would be far more premature to call for a temporary bottom formation at 1.4125 as traders may start to rebuild short position ahead of release of key U.K. retail sales data on Friday which are expected to show very weak readings.
For now, some offers are tipped at 1.4210/20 with stops above there, bids re touted at 1.4160-50 with more stops reported below 1.4120.
AceTraderFx Jan 21: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 21 Jan 2016 08:44 GMT
USD/JPY - 116.93
Despite yesterday's resumption of recent downtrend to a 1-year bottom of 115.97 in Europe, subsequent erratic rise to 117.05 in New York due to recovery in the Dow, then intra-day cross-inspired rally to 117.48 in Asia confirms temporary low has been made and 2-3 days of choppy consolidation is in store.
As dollar has rebounded after a strong retreat to 116.47 in early European morning due to renewed weakness in Asian equities after initial recovery, near term upside bias is retained for a long-awaited minor correction to 117.69/71 but reckon res at 118.18 should cap upside and yield another fall later today or tomorrow.
update later
AceTraderFx Jan 21: Intra-day Market Moving News and Views EUR/USD
Intra-Day Market Moving News and Views
21 Jan 201609:19GMT
EUR/USD - 1.0903... The single currency trimmed gains versus the U.S. dollar in European morning but remained supported ahead of the European Central Bank policy announcement later in the day.
During the day, price rebounded after extending losses from previous session to 1.0667 shortly after Asian open and then ratcheted higher to 1.0921 in European morning before briefly fell to 1.0885.
The ECB is widely expected to keep policy on hold on Thursday, but the central bank is likely to flag risks to the growth and inflation outlook, in particular from falling energy prices, during the following press conference (13:30GMT), leaving the way clear for additional easing later this year.
At present, bids are reported at 1.0880-70 and more around 1.0860 with stops below 1.0850.
On the upside, offers are placed at 1.0930-40 and then 1.0960-70 with stops just above 1.0985.