Dollar rises broadly on upbeat U.S. data : March 3, 2013

[acetraderfx]

DAILY USD/CAD OUTLOOK : March 8, 2013

DAILY USD/CAD OUTLOOK - 1.0309

08 Mar 2013 07:53GMT

Usd's rally to 1.0337 Wed signals MT upmove has resumed n upside bias remains to re-test last Fri's 8-month high at 1.0343, break, 1.0375 later.

Trade fm long side with stop as indicated n only below 1.0255 suggests temp. top made, 1.0217.

STRATEGY : Long at 1.0310

POSITION : Long at 1.0310

OBJECTIVE : 1.0375

STOP-LOSS : 1.028

RES : 1.0343/1.0362/1.0400

SUP : 1.0269/1.0255/1.0217

 

[acetraderfx]

WEEKLY EUR/YEN CROSS OUTLOOK : March 4, 2013

WEEKLY EUR/YEN CROSS OUTLOOK - 121.20

01 Mar 2013 19:56GMT

Y'day's breach of 122.25 n to 118.74 confirms LT uptrend fm 94.12 (2012 low) has indeed formed a top
earlier at 127.71 n despite intra-day rebound, consolidation with downside bias remains, below 118.74
118.74 needed to extend said decline fm a 34-month peak to 118.00/10 but sup at 117.06 shud hold.

Sell again on recovery n only a daily close abv122.25 confirms temp. low is made, risks stronger
retrace. to 123.20 but 125.25 shud remain intact.

STRATEGY : Stop hit

POSITION : Short at 121.20

STOP-LOSS : 121.2

RES : 121.45/122.55/123.78

SUP : 118.74/117.06/115.99

 

[acetraderfx]

Daily Outlook on Asian currency : March 5, 2013

DAILY USD/SGD OUTLOOK - 1.2455

04 Mar 2013 23:36GMT

Despite y'day's rise to a fresh 6-month high at 1.2486, subsequent retreat initial consolidation
wud be seen b4 resumption of recent upmove.

Stand aside n look to buy on dips as abv 1.2486 extends to 1.2500. Below 1.2385 signals top made.

STRATEGY : Stand aside

RES : 1.2486/1.2500/1.2527

SUP : 1.2428/1.2385/1.2348
...............................................................................................


USD/IDR DAILY OUTLOOK - 9705

05 Mar 2013 02:04GMT

Despite usd's brief pullback to 9660 (Thur), subsequent rebound suggests consolidation with upside
bias remains n abv 9725 wud re-test Feb's 9770 top.

Hold long with stop as indicated n only below 9660 risks weakness to 9640 b4 another recovery.

STRATEGY : Long at 9700

POSITION : Long at 9700

OBJECTIVE : 9750

STOP-LOSS : 9685

RES : 9725 / 9770 / 9800

SUP : 9660 / 9640 / 9605

 

[acetraderfx]

DAILY TECHNICAL OUTLOOK ON GBP/USD March 5, 2013

DAILY TECHNICAL OUTLOOK ON GBP/USD

05 Mar 2013 01:03GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
1.5085

55 HR EMA
1.086

Trend Hourly Chart
Sideways

Hourly Indicators
Rising

13 HR RSI
69

14 HR DMI
+ve

Daily Analysis
Consolidation with mild upside bias

Resistance
1.5223 - Last Thur's high
1.5186 - Last Fri's high
1.5148 - Last Thur's low

Support
1.5073 -Last Mon's low
1.5000 - Y'day's European low
1.4985 - Last Fri's low

. GBP/USD - 1.5125.. Despite cable's brief but sharp drop fm 1.5060 to 1.5000 in Europe y'day after release of much weaker-than-expected U.K. construction PMI, short-covering lifted price to 1.5118 in late NY trade, price extended said y'day's gain to 1.5142 in thin Australian trading this morning b4 easing.

. Although y'day's strg rebound suggests MT decline fm 1.6747 (May 11') has formed a temporary low at 1.4985 last Fri n several days of consolidation is in store, reckon res 1.5223 (last week's high on Thur) wud cap present corrective rise fm yield resumption of aforesaid downtrend later this week or next week. Looking ahead, a breach of 1.5000 wud pressure cable twd 1.4867, this is 100% projection of 1.6747-1.5234 measured fm 1.6380. On the upside, only a daily close abv 1.5223 wud defer bearish scenario on sterling n risk stronger correction to 1.5415 n possibly twd 1.5518 (38.2% r of 1.5380-1.4985).

. Today, cable's aforesaid rally fm last Fri's 2-1/2 year low at 1.4985 is likely to extend further gain after consolidation, however, as hourly indicators wud be in o/bot territory on next rise, res at 1.5219/23 shud cap upside.