Apr 26 , 2010

Hello traders ...
Many sorry since i cant have any update yet..Anyway, here is some sweets from Ace Trader ...

Good Luck then .. See you !!

Market Review - 23/04/2010 22:24GMT

Euro rallies on short-covering after Greece announced aid request The single currency rebounded strongly from one-year low against the buck after Greece announced it will activate a financial aid package while Germany said it is prepared to commit to a plan that will bail out the debt-strapped country whilst the greenback strengthened to a two-week high against the Japanese yen on Friday as U.S. March new-home sales rose the most in almost five decades. Mounting anxiety that Greece would default on its debt weighed on the single currency in Australia. Short term speculators sold the Euro on concerns that the Group of 20 industrialized and developed nations might not come up with an effective plan to address Greece's debt problems. Price dropped to 1.3201 in Australian session before stabilizing. However, euro rebounded strong ly from there on active demand by sovereign names as well as announcement by Greece's PM George Papandreou that Greece would soon ask for the activation of emergency loans from the Eurozone and the International Monetary Fund, though the European Commission had no immediate comment. Euro climbed steadily higher vs usd and other currencies in New York session and rallied to as high as 1.3400, price closed near the day's high at 1.3383. Despite trading sideways initially in Asia and Europe, the greenback rallied to 94.43 (two-week high) against the yen on renewed risk appetites after the U.S. new home sales was reported to rise by 26.9% which is the largest rise since April 1963 (31.2%). In addition, U.S. durable goods which came in weaker than expected at -1.3% in March versus the economists' forecast of an increase of 0.3% and upwardly revised 1.1% rise in February. The finance ministers and central bankers from the top 20 industrialized nations begin another economic summit in Washington on Friday. On top of the discussion list will be Greece's debt problems and the revaluation of the Chinese yuan. Economic data to be released next week include: Japan CSPI on Monday, Australia PPI, business confidence, Germany Gfk index, import price index, export price index, U.K. CBI distribution trade, consumer confidence, U.S. Midwest manufacturing, consumer confidence on Tuesday, Japan retail sales, Australia CPI, Germany CPI, HICP and U.S. rate decision on Wednesday. U.K. House price, Germany unemployment rate, E.U. Business climate, economic sentiment and U.S. jobless claims on Thursday. U.K. Gfk survey, Japan household spending, CPI, industrial production, housing start, unemployment rate, construction orders, E.U. HICP flash, unemployment rate, Swiss KOF indicator, U.S. PCE, GDP deflator, Chicago PMI, Canada GDP and PPI on Friday.

Weekly Technical Outlook on USD/JPY

Update time: 25/04/2010 23:25 GMT USD/JPY - 93.97.. Despite dlr's initial weakness to 91.60 last Monday, subsequent strg rebound to 94.43 confirms correction fm 94.78 (Apr 02) has ended there n the MT erratic rise fm 84.82 (Nov 09') wud resume to 95.10, being 61.8% r of the MT intermediate fall fm 101.45 to 84.82, then 95.70 (61.8% proj. of 88.14 to 94.78 measured fm 91.60), however, as daily oscillators' readings wud display 'bearish divergences' on such move, reckon 97.10, which is equality measurement of 84.82 to 93.78 projected fm 88.14 wud cap upside. Today, dlr's retreat to 93.85 (N.Z.) after Friday's cross-inspired rally to 94.43 suggests initial choppy consolidation is in store, as long as sup at 93.31 (Friday's low) holds, gain twd this year's high at 94.78 is envisaged, abv wud encourage for further headway twd 95.1 0. On the downside, failure to penetrate 94.43 n a firm breach of 93.31 wud 'prolong' choppy consolidation below 94.78 n may risk stronger retracement of last Monday's rise fm 91.60 to 93.02 (50% r) but near term good sup area at 92.74/80 shud remain intact n yield another rebound later this week. Click here to enlarge chart

Weekly Technical Outlook on GBP/USD

Update time: 25/04/2010 23:47 GMT GBP/USD - 1.5388.. Although cable ratcheted higher after extending recent fall fm 1.5524 to 1.5192 last Monday, subsequent strg retreat fm 1.5476 (Thur) suggests price wud continue to 'gyrate' inside the broad range of 1.5192-1.5524 this week with initial upside bias n as long as res at 1.5476 holds, another sharp retreat is envisaged later, a breach of 1.5295 sup wud confirm sterling's correction fm 2010 low of 1.4781 has ended there, then stronger retracement of the aforesaid rise twd 1.5065 (being a 'dynamic' 61.8% r) wud be seen. Looking ahead, only abv 1.5524 wud defer MT bearishness on the British pound as such a move wud yield subsequent headway to 1.5620 (50% r of intermediate fall fm 1.6459 to 1.4781) b4 prospect of another decline in May. Today, Friday's euro-led rally fm 1.5295 is expected to keep price trading with a firm intra-day undertone n gain to 1.5435/45 is likely once nr term good res at 1.5399 is penetrated, as hourly oscillators' readings wud be in over bought territory on further rise, reckon res at 1.5476 wud cap upside n yield subsequent fall. Below 1.5315/21 sup wud bring re-test of 1.5295, then 1.5258.