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Market Review - 20/08/2010 21:45 GMT

Euro tumbles to a 5-week low on ECB Weber's dovish comments

The single currency sank to a 5-week low against dollar on Friday after ECB Governing Council member Axel Weber, who is considered to be a hawk in ECB, suggested monetary policy should remain loose until next year, adding concerns about the strength of the global economy despite massive stimulus measures.

Although the single currency traded narrowly in Asia after Thursday's large swings and edged briefly higher to 1.2833 in European morning, euro tumbled from there after ECB Weber's comments, he said it would make sense for the central bank to extend unlimited liquidity to banks past the end of the ...

INTRA-DAY USD/JPY:

Last Update At 20 Aug 2010 02:26 GMT

Range Forecast
85.20 / 85.50


Resistance/Support
R: 85.69 / 85.92 / 86.25
S: 85.11 / 84.89 / 84.72

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INTRA-DAY EUR/USD:

Last Update At 20 Aug 2010 02:45 GMT

Range Forecast
1.2790 / 1.2820


Resistance/Support
R: 1.2853/1.2886/1.2903
S: 1.2792/1.2771/1.2750

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INTRA-DAY USD/CHF:

Last Update At 20 Aug 2010 02:31 GMT

Range Forecast
1.0310 / 1.0340


Resistance/Support
R: 1.0350/1.0385/1.0402 ...

Market Review - 19/08/2010 22:52 GMT

Dollar hovers near 15-year low against yen due to weak U.S. economic data

Dollar fell against the Japanese yen on Thursday, as weak U.S. economic data deepened investors' fears that the U.S. economic recovery remained fragile.

Although the greenback rose against the Japanese yen in Asia and price then climbed to an intra-day high of 85.92 in Europe as news reported that BOJ started to consider additional monetary easing measures and there was rumour that BOJ would hold an emergency policy meeting, dollar dropped from there on renewed risk aversion and fell sharply to 84.89 after the release of disappointing U.S. initial jobless claims and Philadelphia Fed ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2812

Late Update At 19 Aug 2010 06:04 GMT

Although euro has ratcheted higher after falling
marginally lower to 1.2781 just ahead of European opening n consolidation is now envisaged, outlook remains 'mildly' bearish for y'day's fall fm 1.2923 to extend to 1.2777/80 but 1.2734 sup shud hold.


Trade fm short side n only abv 1.2843 (NY low)
confirms intra-day low made, risks 1.2870/80.

Range Forecast
1.2795 / 1.2820


Resistance/Support
R: 1.2824/1.2843/1.2886
S: 1.2777/1.2757/1.2734

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