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Market Review - 06/10/2010 22:17 GMT

Dollar sinks against yen and euro on U.S. easing speculation

The greenback tumbled to a fresh 15-year low against the Japanese yen and a new 8-month low against euro on Wednesday, as weak U.S. private-jobs data reinforced speculation that U.S. Fed would start a second round of quantitative easing to boost the economy.

Despite dollar's recovery from Tuesday's low of 82.96, the greenback continued to edge lower from 83.27 against the Japanese yen in Asian and European sessions on Wednesday and price then sank to a fresh 15-year low of 82.75 in NY mid-day after the release of a surprise fall in U.S. ADP jobs data, which dropped by 39K versus the forecast of an ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY


USD/JPY : 83.00

Last Update At 06 Oct 2010 09:26 GMT

Although dlr has traded narrowly but with a soft
bias so far today, as y'day's brief bounce fm 82.96 to 83.33 suggests recent erratic fall has formed a temp. low there, sideways consolidation with mild upside bias is seen, abv 83.33 wud yield 83.45/50.

Turn long on dips with stop below Sept's 15-year low of 82.87, break may risk weakness to 82.55/60.

Range Forecast
83.00 / 83.25

Resistance/Support
R: 83.33 / 83.61 / 83.99
S: 82.96 / 82.87 / 82.06

http://www.acetraderfx.com

INTRA-DAY EUR/USD OUTLOOK

Last Update At 06 Oct 2010 06:00 GMT

Rate : 1.3842

Despite euro's retreat after re-testing y'day's
8-1/2 month high of 1.3860, pullback wud be ltd to 1.3809 (prev. res, now sup) n yield rebound but a breach of said res needed to confirm recent upmove has once again resumed n extend to 1.3889/96.

Buy on dips with stop as indicated, break wud
risk stronger pullback to 1.3779/80.

Range Forecast
1.3823 / 1.3860

Resistance/Support
R: 1.3860/1.3889/1.3902
S: 1.3822/1.3795/1.3762

http://www.acetraderfx.com

INTRA-DAY USD/JPY:

Last Update At 06 Oct 2010 02:14 GMT

Range Forecast
83.00 / 83.33

Resistance/Support
R: 83.33 / 83.61 / 83.99
S: 82.96 / 82.87 / 82.06

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INTRA-DAY EUR/USD:

Last Update At 06 Oct 2010 02:16 GMT


Range Forecast
1.3822 / 1.3860

Resistance/Support
R: 1.3860/1.3889/1.3902
S: 1.3822/1.3795/1.3762

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INTRA-DAY USD/CHF:

Last Update At 06 Oct 2010 02:17 GMT

Range Forecast
0.9650 / 0.9690


Resistance/Support
R: 0.9681/0.9705/0.9738 ...