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Recent Recommended Trades

******************************************** Update Time: 19 Mar 2010 14:28GMT DAILY USD/CHF OUTLOOK - +1.0630+ Although dlr fell again y'day on comments by SNB official, as the expected rally to 1.0648 signals recent correction fm 1.0899 has 'possibly' ended at 1.0507, as long as this sup holds, mild upside bias remains, abv 1.0648 confirms n yields 1.0703 later. Buy on dips for 1.0630 with stop below said sup, break may risk 1.0497 but 1.0460/65 shud hold.

Dollar Up as Stocks fall

Dollar Up as Stocks fall U.S. Dollar Trading (USD) enjoyed a solid day of gains as the stock market pulled back into the weekend after 8 days of gains. Weighing on investor sentiment was the surprise rate hike by the reserve bank of India. Risk Aversion ticked higher and Currencies such as the NZD and GBP were sold heavily. In US stocks, DJIA -37 points closing at 10741, S&P -6 points closing at 1159 and NASDAQ -16 points closing at 2374. Looking ahead,Treasury Secretary Geithner Speaks.

Flows - USD/CNY 1Y NDF slightly lower on reconciliatory action from China

Published at 01:52 (GMT) 22 Mar USD/CNY 1Y NDF is holding around last Friday's close of 6.66620 at 6.6640. It shot up to 6.6700 last week after tensions with the US escalated on Premier Wen Jiabao's departing words at the NPC on CNY valuation. With trade tensions dangerously escalating, a more reconciliatory tone from the Commerce Ministry has helped the 1Y NDF to ease back. China took the first steps to ease tensions by announcing that the Vice Minister of Commerce, Zhong Shan, will lead

Forex Market Outlook on Minors/Crosses

INTRADAY TRADING SIGNAL BY ACETRADER.COM : AUD/USD: 0.9141 Last Update At 22 Mar 2010 02:06 GMT Although 0.9128 has contained Friday's selloff n consolidation abv there wud continue in Asia, as early breach of 0.9175 sup suggests recent upmove has possibly made a top last wk at 0.9253, downside bias is seen for re-test of said sup, 0.9115. Sell aud on recovery n only abv 0.9190/00 wud abort daily bearishness, risk 0.9215/25. Range Forecast 0.9128 / 0.9160 Resistance/Support R:

Market Morning Briefing

Morning Briefing : 22-Mar-2010 - 0339 GMT GOOD MORNING! EQUITIES The US Markets were up last week. The Dow (10741.98) was up 1.10% and the Nasdaq (2374.41) was up 0.29%. The Dow has been honouring the trendline Support on the daily charts since 05-Feb-10 and if it continues to close above the Support line, it may touch 11000 in a couple of weeks. To see the trendline Support on the Dow, follow the link: http://www.kshitij.com/graphgallery/djiacandle.shtml#candle The Asian Indices are mixed

Forex Market Outlook on Majors

INTRA-DAY GBP/USD: 1.5010 Last Update At 22 Mar 2010 02:47 GMT Cable has stabilised after falling initially to 1.4975 in NZ/AUS following Friday's selloff to 1.49 89 in NY n consolidation is in store. As long as said minor low holds, recovery to 1.5035/40 is likely b4 prospect of another decline. Sell sterling on further rise for 1.4985 n if price drops to 1.4955 1st, buy for 1.5005. Range Forecast 1.4995 / 1.5035 Resistance/Support R: 1.5077/1.5128/1.5164 S: 1.4989/1.4977/1.4921

The European and commodity currencies remained under pressure

The European and commodity currencies remained under pressure in the Far East after falling on Friday on rumors that the Fed will hike the discount rate before the next policy meeting in April. I believe that the European and commodity currencies should decline for about two weeks, but still need to gauge if this sustained decline will start by the middle of the week (because these currencies are oversold in the short term) or is already in play. If you consult W.D. Gann theory (the

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Japanese Yen-crosses

Another Friday is upon us, and I will be looking at Japanese Yen-crosses as I have been doing to end the week. As I mentioned last week, the commodity currencies are staying strong again the yen, but the Euro and the Sterling were both candidates to fade against yen-weakness. This materialized as the EUR/JPY and GBP/JPY dropped, but the CAD/JPY and AUD/JPY held their ground. The USD/JPY is in a indecisive mode, near resistance, so there is bias for a bearish attempt next week, but the market

Greenback Strength Re-emerging

Greenback Strength Re-emerging Last week, it the USD crosses such as the EUR/USD and GBP/USD were showing signs of reversal after greenback dominance for end of 2009 and most of 2010 so far. However, by week’s end, the greenback prevailed, and we may have to start thinking of USD-bullish outlooks in the coming weeks. There was some risk appetite to start the week, but that evaporated by the end, dragged by Greece’s uncertain plan of action for its sovereign debt. Let’s take a look and see what

EUR/USD Daily Outlook

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD EUR/USD: 1.3531 Late Update At 21 Mar 2010 23:41 GMT Although euro's rebound fm Friday's NY low of 1.3503 suggests initial consolidation is in store in Asia, as the early breach of 1.3530 sup signals MT downtrend fm 1.5145 has resumed, bearishness remains for re-test of 1.3503, then 1.3480/84. Look to sell on further recovery as only abv 1.3586 (prev. sup) wud risk gain twd 1.3603/08. Range Forecast 1.3520 / 1.3550 Resistance/Support R:

AUD/NZD Eyes 1.32

AUD/NZD Eyes 1.32 Daily and 4H: The previous post noted that the AUD/NZD decline was a 2nd leg of a correction and was nearing a full projection at 1.2860. (Refer to Daily Technical Update 3.17.2010 AUD/NZD ). This was to test a 200MA in 4H time-frame, and is the 78.6% Retracement of the latest upswing. The market eventually reached 1.2850 and is so far supported. Sideways action then broke a declining trendline and the market is testing the 1.2950 powerline. A break above this would suggests

USD/CAD Decline Tests 1.0070 Support

USD/CAD Decline Tests 1.0070 Support Daily and 4H: The USD/CAD’s rally attempt to test the 1.02 powerline was rejected today, with a big boost from the Canadian retail sales and inflation data, which all pointed to an economy that is starting to heat up. MA orientations on both remind that the market is in bearish mode. The market tested the SMA50 in the 4H time-frame and there was clear resistance. The stochastic shows bearish momentum – The daily showing a hold in the oversold zone, and the

EURUSD broke below lower border of price channel

EURUSD broke below the lower border of the price channel on 4-hour chart, suggesting that a cycle top has been formed at 1.3817 level on 4-hour chart and the bounce from 1.3435 has completed. Deeper decline to test 1.3435 support could be expected later today, a breakdown below this level will signal resumption of long term downtrend from 1.5144 (Nov 25, 2009 high), then another fall towards 1.3200 could be seen.

Risky Assets Trade Soft as IMF Warns of Debt Burdens in Advanced Economies

Crude oil extends Friday's decline and falls to around 80 in Asia Monday. While worries about Greece and tightening in emerging markets, the IMF's warning about debt situation in advanced economy worsens market sentiment. Currently trading at 80.1, the front-month contract for crude oil slides for the third consecutive day. The contract surged to a 10-month high at 83.09/16 in previous weeks. At the China Development Forum, John Lipsky, IMF's first Deputy Managing Director, said advanced

Dollar Likely to Test Resistance

Dollar Likely to Test Resistance The dollar rose on Friday. The Reserve Bank of India unexpectedly raised the benchmark reverse repo rate to 3.50% from a record-low 3.25% and the repo rate to 5.00% from 4.75%, and said containing price increases became “imperative” after inflation rose to a 16-month high. The RBI rate hike and Fed discount rate hike speculations increased fears monetary tightening will curtail global economic growth. Deflationary concerns pressured asset prices; gold,

EUR/GBP, EUR/USD Flows - Tele: Has Germany killed dream of a European Superstate?

Published at 00:49 (GMT) 22 Mar Euro seen hurt by ongoing "resistance/opposition" from Germany on Eurozone/EU aid for Greece, EUR at 1.3510-13, EUR/JPY 122.25-30, EUR/GBP 0.9011-12, EUR/CHF 1.4338-40. Telegraph piece by AEP : So after weeks of Euro-bluff it looks ever more like an IMF rescue for Greece after all, and hence for any other eurozone nation driven to ruin by the wrong monetary policy. German and Dutch leaders have concluded in the nick of time that they cannot defy the will of