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Market Review - 13/10/2010 23:07 GMT

Dollar hovers near 15-year low against yen on speculation of Fed easing

The greenback hovered near 15-year low against the Japanese yen on Wednesday, as FOMC minutes released on Tuesday fueled speculation of further monetary easing in U.S., boosting investors' demand for high-yield assets. The Australian dollar climbed to the highest level against dollar since it began to float freely in 1983.

The greenback bounced to 82.01 against the Japanese yen in Asian morning due to market's fear of possible BOJ's intervention after price weakened to 81.66 in Australia. Dollar then moved sideways in European and NY sessions as market's focus was on other major currencies. ...

INTRA-DAY GBP/USD: 1.5835

Last Update At 13 Oct 2010 06:13 GMT

Cable's intra-day strg rebound suggests correc-
tive decline fm 1.6019 has possibly made a low at 1.5755 y'day n consolidation with upside bias remains for gain to 1.5869, however, break is needed to bring stronger gain to 1.5893/00.

Buy again on dips, stop as indicated n only below 1.5775 wud risk weakness to 1.5749/55 sup area.

Range Forecast
1.5825 / 1.5865

Resistance/Support
R: 1.5869/1.5893/1.5917
S: 1.5775/1.5749/1.5705

http://www.acetraderfx.com

Market Review - 12/10/2010 23:02 GMT

Euro rallies against dollar after release of Federal Reserve minutes

Euro pared all of its early losses and rebounded strongly against dollar on Tuesday, as minutes of U.S. Fed's latest meeting showed that the central bank believed further monetary easing would be needed to boost the U.S. economy.

Although the single currency fell from 1.3882 and hit an intra-day low of 1.3775, price rebounded from there and ratcheted higher in Europe, NY morning and rose further in NY mid-day due to ECB Governing Council member Axel Weber's comments. He said that ECB's bond buying programme has not worked and should be phased out permanently. The single currency eventually ...

INTRA-DAY EUR/USD OUTLOOK

Last Update At 12 Oct 2010 07:07 GMT

Rate : 1.3843

As 1.3806 has contained intra-day selloff,
current rebound suggests corrective decline fm
last week's 8-month high of 1.4030 has possibly made a temp. low there n consolidation with upside bias wud be seen for a retrace. to 1.3883 res.


Buy on dips with stop as indicated, break wud
abort n bring stronger correction to 1.3746.

Range Forecast
1.3825 / 1.3865

Resistance/Support
R: 1.3883/1.3914/1.3955
S: 1.3806/1.3799/1.3746

http://www.acetraderfx.com