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Market Review - 10/05/2010 21:44GMT

Euro pares its intra-day gain despite EU/IMF 700 billion euro rescue package

The single currency initially rallied across the board as European Union finance ministers, central bankers and IMF hammered out a 700 billion euros emergency package to stabilize the currency and to prevent Greece's debt crisis from spreading to other eurozone countries. In addition, euro zone central banks also started buying government and corporate bonds while the US Federal Reserve restarted currency swap lines with ECB. These measures had boosted risk appetite of investors. While European equities rallied by more than 4% and Dow Jone index ended the day up by 3.9% but euro pared most of its gains ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2960

Late Update At 10 May 2010 07:03 GMT

Although euro has retreated after marginal rise
to 1.2989 at European opening n sideways trading
wud be seen, outlook remains bullish for upmove fm
last week's 14-month low of 1.2510 to retrace MT
downtrend to 1.2996 n then 1.3038/48 later.


Buy on dips with stop as indicated, break wud
risk stronger pullback to 1.2880 b4 up...



Range Forecast
1.2930 / 1.2980


Resistance/Support
R: 1.2989/1.2996/1.3048
S: 1.2901/1.2880/1.2859

http://www.acetraderfx.com

INTRADAY TRADING SIGNAL BY ACETRADER.COM :
AUD/USD: 0.9033

Last Update At 10 May 2010 04:18 GMT

Aud's intra-day rise after finding buying at 0.
8920 n subsequent breach of 0.9017 suggests nr term
upmove fm 0.8711 has resumed n sharper gain twd 0.9
050 n then 0.9075 is now seen, however, anticipated
o/bot condition shud cap price below 0.9110.


Wud not chase this move n stand aside. Below
0.8990/00 wud signal top made, 0.8950/60.


Range Forecast
0.9015 / 0.9055


Resistance/Support
R: 0.9050/0.9075/0.9110
S: 0.8939/0.8918/0.8859

http://www.acetraderfx.com

INTRA-DAY USD/JPY:

Last Update At 10 May 2010 02:18 GMT

Range Forecast
92.50 / 92.90


Resistance/Support
R: 93.00/93.27/93.96
S: 92.31/91.64/91.05

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INTRA-DAY EUR/USD:

Last Update At 10 May 2010 04:08 GMT

Range Forecast
1.2930 / 1.2968


Resistance/Support
R: 1.2996/1.3048/1.3114
S: 1.2925/1.2880/1.2859

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INTRA-DAY USD/CHF:

Last Update At 10 May 2010 02:09 GMT

Range Forecast
1.1015 / 1.1065


Resistance/Support
R: 1.1085/1.1130/1.1184
S: 1.0992/1.0950/1.0925 ...