Intraday trading signal - page 29
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Support, Resistance and Range Forecast by AceTrader
INTRA-DAY USD/JPY:
Last Update At 03 Sep 2010 06:06 GMT
Range Forecast
84.20 / 84.45
Resistance/Support
R: 84.46 / 84.67 / 84.89
S: 84.00 / 83.83 / 83.66
-------------------------------------------------
INTRA-DAY EUR/USD:
Last Update At 03 Sep 2010 06:03 GMT
Range Forecast
1.2815 / 1.2840
Resistance/Support
R: 1.2856/1.2873/1.2903
S: 1.2811/1.2795/1.2776
-------------------------------------------------
INTRA-DAY USD/CHF:
Last Update At 03 Sep 2010 06:10 GMT
Range Forecast
1.0115 / 1.0145
Resistance/Support
R: 1.0185/1.0220/1.0257
S: 1.0097/1.0065/1.0034
-------------------------------------------------
INTRA-DAY GBP/USD:
Last Update At 03 Sep 2010 04:40 GMT
Range Forecast
1.5400 / 1.5425
Resistance/Support
R: 1.5437/1.5454/1.5492
S: 1.5391/ 1.5350/1.5327
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EUR/USD Intra-day signal by AceTrader
INTRA-DAY EUR/USD OUTLOOK
Last Update At06 Sep 2010 04:29 GMT
Rate :1.2898
Although euro has edged higher after intra-day
brief pullback fm 1.2904 (NZ) to 1.2871, as long as
said minor top holds, further range-trading is seen
b4 recent erratic rise extend twd res at 1.2923 but
loss of momentum wud limit gain to 1.2935/40.
Buy on dips for 1.2905 or sell if price climbs
to 1.2920 1st for another retreat to 1.2885.
Range Forecast
1.2875 / 1.2904
Resistance/Support
R: 1.2904/1.2923/1.2961
S: 1.2871/1.2856/1.2808
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EUR/USD Intra-day signal by AceTrader
INTRA-DAY EUR/USD OUTLOOK
Last Update At 07 Sep 2010 06:08 GMT
Rate : 1.2785
Although euro has recovered after intra-day
selloff to 1.2786 n sideways trading wud be seen,
reckon 1.2845/48 shud cap upside n yield resumption
of fall fm y'day's high of 1.2920 to 1.2776, break
confirms correction fm 1.2588 is over, 1.2744.
Sell on recovery with stop as indicated, break
wud risk stronger rebound but 1.2867 wud hold.
Range Forecast
1.2786 / 1.2825
Resistance/Support
R: 1.2856/1.2867/1.2898
S: 1.2786/1.2776/1.2744
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Daily FX Market Review by AceTrader-9-9-2010
Market Review - 08/09/2010 22:48 GMT
Euro recovers as European debt sales ease risk aversion
The single currency rose against the greenback on Wednesday, as improved demand for Portuguese and Polish bonds eased recent concerns over the European debt crisis. The Japanese yen also retreated from a fresh 15-year high against the greenback as the successful bond auctions eased risk aversion.
The single currency was supported by solid Portuguese and Polish bond auctions, as Portugal sold 661 million euros of bonds maturing in September 2013 with average yield of 4.086%, higher than 3.597% at the last offer. The offer produced a bid-to-cover ratio of 1.9, down from previous reading of 2.4. It also sold 379 million euros of Treasury bonds maturing in April 2021 with average yield of 5.973%, higher than 5.312% at the previous offer. Poland sold all 600 million zlotys of five-year bonds on Wednesday.
The single currency ratcheted higher initially in Asia on short-covering after Tuesday's selloff to 1.2677 and climbed to 1.2734 in Europe. Later, although euro fell below said 1.2677 low, buying interest at 1.2659 lifted euro higher to 1.2764 in NY on short-squeeze due to the strength in U.S. and European equities. DJI closed the day up by 46 points or 0.45% at 10387, while European equities pared all of their early losses as FTSE-100, CAC-40 and DAX eventually rose by 0.41%, 0.92% and 0.76% respectively. Eur/chf also recovered from its fresh record low of 1.2765.
In addition, ECB's Weber said he feared of double-dip recession and financial markets still characterised by high level of uncertainty and not safe from setbacks. Weber said he generally welcomed and supported plans of German government.
On data front, German industrial production rose by 0.1% in July, much weaker than the economists' forecast of 1.0% increase.
Although the greenback fell initially against the Japanese yen in Asia and dropped below Tuesday's low of 83.51 to a fresh 15-year low of 83.34, the greenback staged a strong rebound from there and gained to 83.96 in Europe. Later, the dollar rose again on short-covering after minor retreat and climbed to an intra-day high of 84.05 in NY before trading narrowly.
In other news, the U.S. Federal Reserve stated in its Beige Book that 'widespread signs' signaled that economic growth had eased in the six weeks through the end of August and suggested the recovery was faltering along the East Coast and the Midwest.
Earlier in Asian morning, Japanese Finance Minister Noda said 'he is prepared to take decisive steps on currencies if necessary and the government is watching markets closely'. He also said earlier in his testimony that 'the government's measures to counter the yen's rise include intervention in markets'.
The British pound edged higher from 1.5344 in Asia due to the news that Vodafone had sold its 3.2% stake in China Mobile following Tuesday's weakness to a 1-month low of 1.5296. Vodafone said that 70% of the net proceeds would go to its shareholders via a buy back, adding speculation of some demand for sterling. Cross buying in sterling versus euro supported the British pound, as eur/gbp dropped from 0.8271 to 0.8202. Later, cable rose to 1.5495 after the release of better-than-expected U.K. Halifax house price index and climbed to an intra-day high of 1.5534 in NY before retreating.
U.K. Halifax house price index rose by 0.2% m/m and 4.6% 3Mths/year in August versus the expectations of -0.5% m/m and 4.4% 3Mths/year respectively. Halifax economist Martin Ellis said gains in the last two months had reversed the price falls reported between April and June, leaving prices at a similar level to where they were at the end of 2009 and that activity has also been static so far this year.
Bank of Canada raised its interest rates by 0.25% to 1% as expected, however, it warned a weak U.S. economy would hamper Canada's economic growth. Usd/cad tumbled from 1.0509 to 1.0346.
Economic data to be released on Thursday include:
Australia Employment change, Unemployment rate, Japan Consumer confidence, Germany CPI final, HICP final, EU ECB's Monthly Report, U.K. Trade balance (gbp), BOE rate decision, BOE Asset Purchase Target, U.S. Trade balance (usd), Jobless claims, Canada Housing starts, Trade balance (cad), Exports, Imports, New housing price index.
Support, Resistance and Range Forecast by AceTrader
INTRA-DAY USD/JPY:
Last Update At 09 Sep 2010 06:01 GMT
Range Forecast
83.50 / 83.80
Resistance/Support
R: 84.05 / 84.30 / 84.50
S: 83.60 / 83.51 / 83.34
-------------------------------------------------
INTRA-DAY EUR/USD:
Last Update At 09 Sep 2010 06:04 GMT
Range Forecast
1.2689 / 1.2720
Resistance/Support
R: 1.2743/1.2764/1.2789
S: 1.2676/1.2659/1.2625
-------------------------------------------------
INTRA-DAY USD/CHF:
Last Update At 09 Sep 2010 04:36 GMT
Range Forecast
1.0090 / 1.0120
Resistance/Support
R: 1.0149/1.0173/1.0189
S: 1.0091/1.0079/1.0060
-------------------------------------------------
INTRA-DAY GBP/USD:
Last Update At 09 Sep 2010 05:34 GMT
Range Forecast
1.5450 / 1.5485
Resistance/Support
R: 1.5495/1.5534/1.5565
S: 1.5461/1.5425/1.5412
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Daily FX Market Review by AceTrader-10-9-2010
Market Review - 09/09/2010 22:47 GMT
Dollar hovers near 15-year low against yen
The greenback hovered above 15-year low against the Japanese yen on Thursday. The messages from Japanese officials were mixed and investors bet the Japanese government were not ready to stem the yen's rise.
Earlier in Asia, BOJ Governor Shirakawa said 'August 30 monetary easing wasn't aimed at dealing with forex, stock market volatility; will take appropriate monetary policy action when necessary; will supply ample fund to markets with BOJ's JGB buying program, other market operation tools.' He said that zero rates could destabilise economy and added that he did not discuss currencies and monetary policy at the government meeting.
In addition, Japanese Finance Minister Noda said 'conducting various simulations of foreign exchange interventions.' Noda said that he basically intended to defend Japan's interest in G7 negotiations and people were buying yen to reduce risk. He added he was not prepared to make any speculation on currency intervention.
The greenback fell initially from 84.04 against the Japanese yen in Asia after Wednesday's recovery from a 15-year low of 83.34, as the comments by BOJ Governor Shirakawa and Finance Minister Noda at the parliamentary committee did not have much impact on the Japanese yen. Later, despite dollar's weakness to 83.49 in Europe, dollar staged a rebound from there and rose to 83.94 after the release of better-than-expected U.S. weekly jobless claims data and then eased in NY afternoon.
U.S. weekly jobless claims data came in at 451,000, better than the economists' forecast of 470,000.
Although the single currency dropped from 1.2743 in Asia in reaction to bearish report by Financial Times Deutschland quoting comments from ECB's chief economist Stark who said German banks needed more capital, and euro hit an intra-day low of 1.2665, buying interest at there lifted eur/usd higher as European equities pared their early losses (FTSE-100, CAC-40 and DAX eventually closed the day up by 1.19%, 1.22% and 0.93% respectively) and the pair climbed to an intra-day high of 1.2767 in NY on renewed risk appetites after the release of U.S. jobless claims data. However, euro later retreated from there to 1.2687 in NY afternoon as DJI pared most of its early gain (about 80 points) and closed the day up by 28 points, or 0.27% at 10415.
European Central Bank President Jean-Claude Trichet said to a newspaper interview that there was no risk of deflation or inflation in eurozone at the moment. Earlier, ECB's Erkki Liikanen said he did not think double-dip recession likely. He added that 'slowdown in economic growth likely once stimulus measures have ended.'
Although the British pound edged lower in Asia on profit-taking after Wednesday's rally to 1.5534 and fell below 1.5400 to an intra-day low of 1.5376 in Europe after the release of weaker-than-expected U.K. trade data which showed a trade deficit of 8.67 billion pounds in July versus the expectations of 7.45 billion pounds deficit, cross-buying in sterling lifted price at there and cable rebounded strongly to an intra-day high of 1.5479 in NY morning. However, cable then retreated to 1.5425 in tandem with euro in NY afternoon.
The Bank of England kept interest rates unchanged at a record low of 0.5% and announced no new quantitative easing measures as widely expected.
In other news, BBC reported that British finance minster George Osborne planned an additional 4 billion pounds of welfare cuts on top of an 11 billion pounds reduction to the annual bill already planned.
The Australian dollar rallied from 0.9160 to 0.9278 on Thursday due to strong jobs data, as Australian unemployment rate in August dropped to 5.1% from 5.3% in July.
Economic data to be released on Friday include:
Japan Domestic CGPI, GDP Rev., GDP deflator, Cabinet Office's Econ. Report, U.K. PPI core, PPI input, PPI output, Canada Unemployment rate, Jobs-change, U.S. Wholesale inventories.
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Support, Resistance and Range Forecast by AceTrader
INTRA-DAY USD/JPY:
Last Update At 13 Sep 2010 06:17 GMT
Range Forecast
83.96 / 84.35
Resistance/Support
R: 84.43 / 84.71 / 84.93
S: 83.96 / 83.75 / 83.49
-------------------------------------------------
INTRA-DAY EUR/USD:
Last Update At 13 Sep 2010 06:10 GMT
Range Forecast
1.2795 / 1.2835
Resistance/Support
R: 1.2845/1.2893/1.2920
S: 1.2767/1.2747/1.2715
-------------------------------------------------
INTRA-DAY USD/CHF:
Last Update At 13 Sep 2010 06:13 GMT
Range Forecast
1.0140 / 1.0170
Resistance/Support
R: 1.0169/1.0210/1.0239
S: 1.0137/1.0100/1.0060
-------------------------------------------------
INTRA-DAY GBP/USD:
Last Update At 13 Sep 2010 06:07 GMT
Range Forecast
1.5400 / 1.5430
Resistance/Support
R: 1.5468/1.5500/1.5534
S: 1.5376/1.5345/1.5327
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EUR/USD Intra-day signal by AceTrader
INTRA-DAY EUR/USD OUTLOOK
Last Update At 14 Sep 2010 06:10 GMT
Rate : 1.2870
Despite euro's brief bounce to 1.2891, failure
to penetrate y'day's high of 1.2893 n current re-
treat suggests further choppy consolidation wud be
seen n pullback to 1.2844/45 cannot be ruled out
but below 1.2835 needed to confirm top, 1.2810.
Abv 1.2891/93 wud bring one more rise twds 1.29
20/23 res area. Stand aside in the meantime.
Range Forecast
1.2860 / 1.2891
Resistance/Support
R: 1.2893/1.2920/1.2961
S: 1.2835/1.2810/1.2793
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AUD/USD Intra-day signal by AceTrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: AUD/USD
AUD/USD : 0.9365
Last Update At15 Sep 2010 06:39 GMT
Despite aussie's recovery fm 0.9257, intra-day
breach of 0.9362 (prev. res) confirms recent upmove
has formed a temp. top at 0.9457 y'day n outlook
remains mildly bearish for another corrective fall
twd 0.9325/35 but reckon sup at 0.9313 wud hold.
Trade fm short side with stop as indicated n
only abv 0.9430 (Asia) aborts n risks 0.9457 again.
Range Forecast
0.9340 / 0.9380
Resistance/Support
R: 0.9430/0.9457/0.9485
S: 0.9331/0.9313/0.9294
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USD/JPY Intra-day signal by Acetrader
INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY
USD/JPY :85.25
Last Update At 16 Sep 2010 03:40 GMT
Although dlr's intra-day stronger-than-expected
decline suggests y'day's rally fm a 15-year low of
82.87 has made a temp. top at 85.78 n retracement
twd 85.02 can't be ruled out, nr term o/sold condi-
tion shud keep price abv 84.73/78 n bring rebound.
Stand aside for now n buy on dips for day trade
but abv 85.49 needed to signal pullback is over.
Range Forecast
85.15 / 85.45
Resistance/Support
R: 85.49 / 85.78 / 85.91
S: 85.02 / 84.73 / 84.59
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