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AceTraderFx Apr 13: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 13 Apr 2016 04:03 GMT
EUR/USD - 1.1370
Despite euro's brief rally above last week's top at 1.1454 to a fresh 5-1/2 month peak at 1.1465 in Europe on Tuesday, subsequent intra-day sharp selloff to 1.1336 in New York morning on long-liquidation suggests a temporary top has been made and consolidation with downside bias is seen, however, reckon support at 1.1283 would hold and yield rebound later.
On the upside, only a firm breach of 1.1465 would indicate MT uptrend has resumed and extend gain to 1.1495 and then 1.1512 before correction occurs.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 13: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 13 Apr 2016 08:04GMT
USD/JPY - 108.90
Although dollar's rebound from Monday's fresh 17-month trough at 107.63 and then intra-day breach of 108.44 (yesterday's high in New York) signals Medium Term downtrend has made a temporary bottom there, as long as resistance at 109.10 holds, bearishness remains for another selloff later today or tomorrow.
On the downside, 108.44 would indicate a top has been made and yield weakness to 108.12, break would confirm correction over and bring re-test of 107.63, then towards 107.20/30.
Only above 109.10 would dampen bearishness and risk stronger correction towards 109.34 and possibly towards 109.91/92.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 14: Intra-Day Market Moving News and Views (USD/JPY)
Intra-Day Market Moving News and Views
14 Apr 201601:00GMT
USD/JPY - ...... Although the greenback retreated from 109.02 in Wednesday's New York morning after downbeat U.S. retail sales data, price climbed marginally higher above 109.39 (Europe) to 109.41 later in the day, then 109.49 in Tokyo morning on Thursday before easing.
Today's focus for the greenback will be on the release of inflation data from U.S. in New York morning.
Market expects the inflation in U.S. in March to turn back into positive territory to +0.2% from -0.2% in preceding month but core CPI to drop slightly to 0.2% from 0.3% in Feb. Having said that, investors should also pay attention to the U.S. jobless claims (12:30GMT) and speeches from Fed's Lacker and FOMC member Powell at 14:00GMT.
At present, bids are reported at 109.20-10 and more at 109.00-108.90 with mixture of bids and stops in 108.80-108.60 region.
On the upside, offers are noted at 109.50-60 and more at 109.70-80 with stops above 110.00.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 14: Intra-Day Market Moving News and Views (EUR/USD)
Intra-Day Market Moving News and Views
14 Apr 2016 03:10GMT
EUR/USD - ...... The single currency remained under pressure in Asian morning on Thursday following yesterday's intra-day decline from 1.1391 to 1.1268 and extended losses to 1.1263 due partly to cross-selling in euro vs yen.
Although euro's intra-day weakness in Asia suggests consolidation with initial downside bias would be seen and selling the single currency is recommended, reckon sharp fall is not likely to be seen as market expects euro zone's inflation data in March which will release in European morning today to show a rise of +1.2% in March compares to +0.2% in preceding month and investors may decide to lock in profits ahead of the this data.
At the moment, offers are reported at 1.1280-90 and more at 1.1300-10 with stops above there, whilst bids are noted at 1.1250-40 and then 1.1230-20 with stops below 1.1320.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 14: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 14 Apr 2016 08:18 GMT
USD/JPY - 109.20
Dollar's rally from Monday's fresh 17-month trough at 107.63 to as high as 109.41 in yesterday New York, then 109.55 in today's Asian morning signals MT downtrend has made a temporary bottom there and as long as 108.75/79 holds, stronger retracement towards 109.60/70 would be seen, however, 'loss of momentum' should cap price below 109.92 (previous support, now resistance) and yield another fall later.
On the downside, only a daily close below 108.44 would indicate correction over and yield weakness to 108.12, break would bring re-test of 107.63.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time
consolidating into below posting
AceTraderFx Apr 15: BOJ Governor described the yen's gains so far this year as excessive
Intra-Day Market Moving News and Views
15 Apr 2016 00:50GMT
BOJ Governor Haruhiko Kuroda has dismissed view held by some in the market on deploying negative interest rates was an attempt to stem an unwelcome yen rise that hurts exports. It was the first time the BOJ governor described the yen's gains so far this year as "excessive," wading into a series of verbal intervention by Japanese policymakers that has had little success arresting unwelcome yen gains that hurt exports. While the yen's "excessive" rises have been corrected somewhat in the past few days, pointing to the dollar's rebound from 17-month lows hit earlier this month.
G20 meeting is concluding today, and high on the agenda willy be the Currency policy. The IMF on Tuesday cut Japan's growth forecast for 2016 in half to 0.5 percent, as the economy skirts recession on sluggish global demand and weak private consumption.
In a seminar in New York earlier, Kuroda acknowledged that private consumption has shown some weaknesses and stressed his readiness to ease again if risks threaten achievement of the bank's 2 percent inflation target.
A statement issued by Japan Treasury Department today, Japanese Finance Minister Taro Aso and U.S. Treasury Secretary Jack Lew has agreed on the importance of all countries to honor their G7 and G20 exchange-rate commitments. The two, who met in Washington on the sidelines of the Group of 20 finance leaders' gathering, also discussed developments in Japan's macro-economic policies including fiscal measures.
The G20 finance leaders agreed in February that countries should refrain from competitive currency devaluations, which some market players interpreted as a warning against Japan for intervening in the currency market to stem sharp yen rises.
The G20 and the Group of Seven advanced economies, however, agree that excess volatility and disorderly currency moves are undesirable. But Japan iinsists it has the right to step into the market if the yen's spike is out of line with fundamentals.
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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 18: Intra-Day Market Moving News and Views- USD/JPY
Intra-Day Market Moving News and Views
18 Apr 2016 02:05GMT
USD/JPY - ....... Dlr 'gap-down' opened below Friday's New York low of 108.60 to as low as 107.75 (Reuters) in NZ this morning on broad-based buying in yen for risk aversion after an earthquake a 7.0 magnitude earthquake hit southern Japan's Kyushu Island on Saturday.
Later, despite a recovery to 108.46 ahead of Asian open, price retreated to 107.90 in Tokyo morning due to a decline of near 3% in Nikkei (currently down 2.7% or 454 points to 16,393).
Today, NAHB will release its housing market index for U.S. at 14:00GMT, however, focus of the market will be on the speeches from New York Fed President William Dudley andn Minneapolis Federal Reserve president Neel Kashkari at 12:30GMT n 16:30GMT respectively.
At present, offers are reported at 108.30-40 n more at 108.50-70 region with mixture of offers and stops located at 108.80-90.
On the downside, initial bids are noted at 107.70-60 and then 107.50-40 with stops below 107.30.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 18: Intra-Day Market Moving News and Views- GBP/USD
Intra-Day Market Moving News and Views
18 Apr 2016 04:21GMT
GBP/USD - ...... The British pound came under renewed selling pressure after a 'gap-up' opening at 1.4240 (Reuters) and fell to 1.4172 just ahead the Asian open as fears of 'Brexit' increased after a warning from U.K. British finance minister George Osborne.
Today, in the absence of UK economic data and events, the British pound is expected to track euro's intra-day swing closely. At present, offers are noted 1.4190-00 n more at 1.4210-1.4220 with stops above 1.4240.
On the downside, bids are reported at 1.4150-40 n then 1.4130-20 with stops below 1.4100.
Data to be released this week:
New Zealand CPI and U.S. housing market index on Monday.
Japan tertiary industry index, Eurozone current account, ZEW economic sentiment, Germany ZEW current condition, ZEW economic sentiment, U.S. building permits, housing starts and Redbook index on Tuesday.
Japan export, import, trade balance, Australia Westpac leading index, Germany producer price index, U.K. unemployment rate, average earning, unemployment change, Swiss investor sentiment, U.K. CBI industrial trends survey, U.S. mortgage application, existing home sales and Canada wholesale sales on Wednesday.
Australia National Australia Bank's business confidence, Swiss exports, imports, trade balance, U.K. public sector net borrowing, retail sales, CBI distributive trades survey, Eurozone refinancing rate, deposit rate, consumer confidence, U.S. initial jobless claims, national activity index, Philadelphia Fed manufacturing survey, housing price index and CB leading indicator on Thursday.
Japan Nikkei manufacturing PMI, France Markit manufacturing PMI, Markit service PMI, Germany Markit manufacturing PMI, Markit service PMI, IFO-current assessment, IFO-business climate, IFO- expectations, Eurozone Markit manufacturing PMI, Markit service PMI, Italy industrial orders, industrial sales, retail sales, Canada retail sales, CPI, U.S. Markit manufacturing PMI and Markit service PMI on Friday.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
AceTraderFx Apr 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 18 Apr 2016 06:02 GMT
EUR/USD - 1.1294
Euro's selloff from last Tuesday's fresh 5-1/2 month peak at 1.1465 to as low as 1.1234 on Thursday signals Medium Term uptrend from 1.0523 (Dec 2015) has made a temporary top there and despite subsequent recovery to 1.1317 on Friday, as long as 1.1346 (previous support, now resistance) holds, choppy trading with downside bias remains.
However, reckon 1.1144 would contain weakness and yield rebound 'later'.
On the upside, only a daily close above 1.1346 would indicate 1st leg of correction over and yield gain towards 1.1401 before down.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time