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Market Review - 28/10/2010 22:49 GMT

Dollar drops broadly on Fed easing speculation

The greenback weakened against major currencies on Thursday as investors speculated U.S. Fed would devaluate the greenback by further monetary easing.

The greenback fell against the Japanese yen from 81.78 in Australia on Thursday. Dollar tumbled in Asian and European sessions and sank below 81.00 to 80.86 in NY morning before staging a recovery. Earlier in Asia, BOJ kept overnight call rate target unchanged at 0-0.10%. BOJ would buy corporate bonds rated BBB or higher and commercial paper rated a2 or higher under new asset purchase programme. BOJ also kept size of asset purchase unchanged.

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Update Time: 27 Oct 2010 17:15GMT
INTRA-DAY EUR/USD OUTLOOK - +1.3755+

Despite euro's recovery after resumption of fall
fm 1.4080 to 1.3758, subsequent retreat fm 1.3800 suggests consolidation with downside bias remains n below 1.3758 wud extend marginally, however, o/sold condition shud keep price abv 1.3697/00

Trade fm short side with stop now as indicated,
abv wud risk stronger rebound to 1.3853.

Rate: +1.3755+
Strategy: +Target met+
Position: Short at 1.3795
Objective: 1.3755
Stop-Loss:
Resistance: 1.3878/1.3907/1.3980
Support: 1.3697/1.3637/1.3616
********* ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM: AUD/USD

AUD/USD : 0.9752

Last Update At 28 Oct 2010 02:34 GMT

Although intra-day nzd-led rebound suggests A$'s recent decline fm 2010 top at 1.0004 has made a temporary low y'day at 0.9651 (NY) n consolidation is expected today in Asia, reckon 0.9760/65 wud cap present rise n yield subsequent strg retreat.


Hold short for 0.9705 1st n only abv 0.9780 wud
abort bearish scenario n risk gain twd 0.9810/14.


Range Forecast
0.9730 / 0.9760


Resistance/Support
R: 0.9760/0.9780/0.9814
S: 0.9721/0.9682/0.9651

http://www.acetraderfx.com

Market Review - 27/10/2010 22:50 GMT

Dollar rises broadly on reconsidered QE expectations

The greenback strengthened against major currencies on Wednesday as investors questioned about the size of additional monetary easing by U.S. Fed and continued to reduce short bets against dollar ahead of the Federal Reserve meeting next week.

The greenback rose above Tuesday's high of 81.66 to 81.99 against the Japanese yen in European morning after finding buying interest at 81.32 in Australia. Despite dollar's retreat to 81.44, the greenback edged higher after the release of U.S. durable goods orders which rose by 3.3% in September versus the economists' forecast of 2.0%. U.S. durable goods excluding ...