Uncategorized

Market Review - 08/05/2010 01:02GMT

Euro recovers as German parliament approves rescue package for Greece

Euro rebounded strongly from Thursday's low 1.2510 and rallied back to 1.2799 on active short-covering in European morning before retreating to 1.2609 after release of robust U.S. non-farm payrolls data. However, renewed buying interest later lifted the pair and euro ended the day at 1.2755. Overall, euro drew support as Germany's upper house of parliament approved German loans to Greece through the state-owned KfW bank. In addition, there was also speculation that the European Central Bank might make more funds available to banks to prevent the Greek debt crisis from spreading to other eurozone countries. ...

INTRA-DAY USD/JPY:

Last Update At 07 May 2010 07:36 GMT

Range Forecast
91.90 / 92.23


Resistance/Support
R: 92.43/92.78/93.02
S: 91.52/90.95/90.01

---------
INTRA-DAY EUR/USD:

Last Update At 07 May 2010 08:10 GMT

Range Forecast
1.2715 / 1.2765


Resistance/Support
R: 1.2737/1.2789/1.2826
S: 1.2635/1.2606/1.2586

---------
INTRA-DAY USD/CHF:

Last Update At 07 May 2010 08:12 GMT

Range Forecast
1.1100 / 1.1145


Resistance/Support
R: 1.1184/1.1245/1.1271
S: 1.1106/1.1075/1.1015
...

INTRADAY TRADING SIGNAL BY ACETRADER.COM :
AUD/USD: 0.8848

Last Update At 07 May 2010 07:14 GMT

Aussie's retreat after intra-day strg reboundto 0.8932 suggests corrective rise fm y'day's lowof 0.8711 (NY) has ended there, choppy consolida-tion with downside bias is seen n pullback to 0.8821 cannot be ruled out b4 rebound.

Abv 0.8932 wud bring stronger retrace. to 0.8950/60 but 0.8991 wud remain intact. Stand aside..

Range Forecast
0.8865 / 0.8905


Resistance/Support
R: 0.8932/0.8991/0.9020
S: 0.8821/0.8776/0.8711

http://www.acetraderfx.com

Market Review - 06/05/2010 21:05GMT

Euro plunges on lingering Greek contagion fears and 9% slump in U.S. stocks

Euro extended its recent weakness and fell across the board on continuing contagion fears after ECB's Trichet failed to ease investor's worries on the Greek debt crisis and he didn't take fresh measures to help stem the debt crisis. A sharp and sudden selloff in US stocks also sparked off more risk aversion and pushed euro lower.

Although the single currency rebounded to 1.2857 in Thursday's Asian morning on short-covering, the pair tumbled after the European Central Bank kept its main interest rate on hold at a record low of 1.0% as expected for the twelfth month. Euro remained under ...