Free Morning Signals - Market outlook

[gmgfx]

Morning Brief - 09 May 2005

The market reaction to the Friday employment report will remain important. There will be greater optimism that the US economy is coming out of its soft spot, although there will still be considerable uncertainties over the trends for consumer spending. The short-term dollar focus will be on the important resistance levels around 1.2810, potentially leading to an attack on the very important 1.2750 region. There was no move to let the yuan strengthen during Sunday, but the underlying speculation over a Chinese currency move will continue throughout the week and this will still limit the potential for dollar gains against the yen. Sterling will be looking at the Monday Bank of England rate decision and will be vulnerable to slight downward pressure if rates are left unchanged.

Short EURUSD from 1.2812 target 1.2740. stop loss 1.2825

 

[gmgfx]

Morning Update - 10 May 2005

Trading has been subdued in Asia with the dollar making marginal gains after finding support beyond 1.2850 against the Euro. Activity is likely to be subdued during Tuesday ahead of the US trade data on Wednesday, although the Euro will struggle to secure any significant buying interest. The yen has continued to meet profit taking on long positions as there has been no move to let the Chinese yuan strengthen. Sterling was unable to sustain a corrective move above the 1.8850 level against the US dollar and weakened back to 1.8820 in early Europe. Sterling sentiment is likely to remain weak in the short term following the very poor industrial data and unchanged interest rates seen on Monday.

Sell EURUSD from 1.2830 target 1.2780. stoploss 1.2850

 

[redheart]

Morning Update - 10 May 2005

Trading has been subdued in Asia with the dollar making marginal gains after finding support beyond 1.2850 against the Euro. Activity is likely to be subdued during Tuesday ahead of the US trade data on Wednesday, although the Euro will struggle to secure any significant buying interest. The yen has continued to meet profit taking on long positions as there has been no move to let the Chinese yuan strengthen. Sterling was unable to sustain a corrective move above the 1.8850 level against the US dollar and weakened back to 1.8820 in early Europe. Sterling sentiment is likely to remain weak in the short term following the very poor industrial data and unchanged interest rates seen on Monday.

Sell EURUSD from 1.2830 target 1.2780. stoploss 1.2850

 

[gmgfx]

Morning Brief - 11 May 2005

Activity in Asia has been limited with caution ahead of the US trade report later on Wednesday. Dollar buying is being restrained by unease ahead of the report and by the rumours of hedge-fund difficulties in New York. Volatility is, however, likely to rise sharply in New York. The dollar needs to hold support at 1.2910 to retain a constructive outlook. Sterling has managed to stabilise against the dollar, but faces an important day with the monthly trade data and quarterly inflation report. A poor trade figure and soft inflation report would cause significant Sterling damage. Sustained losses below 1.8770 against the dollar would also damage Sterling’s technical outlook.

. Maintain short EURUSD from 1.2875 target 1.2830. stoploss 1.2900

 

[gmgfx]

Morning Brief - 12 May 2005

The markets will continue to analyse the US trade data on Thursday, but attention will also switch to the level of demand in the economy with the retail sales report. Expectations are relatively strong over the report after Fed Governor Poole’s comments on Tuesday and there will be some disappointment if the sales data is disappointing. Underlying dollar sentiment should, however, remain stronger with a very tough battle below the 1.28 level against the Euro. Yuan speculation will remain a very important background focus. Sterling is likely to remain vulnerable due to continuing fears over a slowdown in the economy with any slide below 1.87 further damaging sentiment.

. Buy EURUSD from 1.2790 target 1.2835. stop/reverse at 1.2770

. Buy GBPUSD from 1.8710 target 1.8780. stop/reverse at 1.8680.

 

[FXdancer]

I sell eurusd at 1.2805 and take profit at 1.2745. Perfect transaction!

 

[gmgfx]

Great FXdancer. We reversed both our positions on the stop of both EURUSD, GBPUSD. And now we reinstated long on EURUSD from 1.2745.

 

[gmgfx]

Morning Brief - 13 May 2005

The dollar has retained a stronger tone in Asian trading, boosted by continuing confidence following the retail sales report and by the ability to stay stronger than 1.2730 against the Euro. The dollar tone should remain firm despite some risks of profit taking on long positions. The yen was underpinned slightly by a stronger than expected increase in core machinery orders, but this was offset by evidence of slower capital flows into Japanese equities. Sterling has managed to hold its ground against the US currency, supported above 1.8620 by some speculation over a near-term bottom for the currency after sharp losses this week. Sterling will find it difficult to sustain a significant advance.


Short GBPUSD from 1.8648 target 1.8560. Stop loss 1.8670