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INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2595
Late Update At 13 Jul 2010 02:41 GMT

Although price ratcheted higher due to cross buying of euro at Asian opening after y'day's selloff to 1.2550, as 1.2615 has capped said recovery, consolidation with downside bias wud be seen but below 1.2550 needed to extend fall fm 1.2723 to 1.2530.


Hold short for 1.2560 1st n only abv 1.2645/50
wud abort daily bearishness on euro.


Range Forecast
1.2575 / 1.2605

Resistance/Support
R: 1.2615/1.2649/1.2688
S: 1.2550/1.2504/1.2479

http://www.acetraderfx.com

Market Review - 12/07/2010 21:43 GMT

Euro falls on concerns over European banks' refinancing problems

The single currency fell sharply in Asia on Monday and penetrated Friday's low of 1.2609 to 1.2587 on refinancing concerns over European banks. Later, although renewed selling at 1.2609 pushed the euro to an intra-day low of 1.2550 in European morning on speculation that stress tests would fail to assure investors' confidence over Europe's banking system, the pair staged a recovery on short-covering and traded sideways in NY afternoon.

The single currency was pressured as investors were worried about government over-indebtedness in Greece, Spain, Ireland and other parts of Europe as many banks ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2593

Late Update At 12 Jul 2010 02:44 GMT

Despite initial sideways trading in NZ/AUS, euro
fell sharply in Asia morning after meeting renewed selling below res at 1.2649 (NY high) n the breach of Fri's 1.2609 low signals decline fm 1.2723 wud head to 1.2580/85 but sup at 1.2553 shud hold.


Lower short entry for this move n only abv 1.26
49 confirms an intra-day low is in place.

Range Forecast
1.2585 / 1.2615


Resistance/Support
R: 1.2649/1.2674/1.2688
S: 1.2586/1.2553/1.2536

http://www.acetraderfx.com

Market Review - 09/07/2010 21:40 GMT

Euro retreats from a two-month high on long liquidation

Although the single currency briefly rose above Thursday's high of 1.2713 to a 2-month high of 1.2723 in European morning, good selling interest emerged there and the pair later tumbled to an intra-day low of 1.2606 in NY mid-day on profit-taking before staging a recovery in NY afternoon.

In other news, ECB president Trichet said it is too early to declare that the financial crisis is over and budget cuts by governments will not hinder economy growth. He indicated we have a very good anchoring of inflation expectation and ECB bond-buying programme is in line with price stability.

ECB ...