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The Reports The Intra-Day Market Reports are designed to meet the needs of those who require reliable comprehensive in-depth but brief market data from a well respected professional source. |
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Currency Strategies - Example Reports These are examples of our morning reports for three days from Tuesday May 17th to Thursday May 19th 2005. This is just a snapshot of the data to give you an idea of the tone and feel of the information that we provide. The best way to evaluate the reports is to sign up for a free trial Tuesday 17th May 2005 EU vs USD The market bounced from just below the 1.2600 area yesterday, although prices are still expected to test strong support in the 1.2500/50 zone in the next couple of days Despite last week’s break of major support (1.2720/30 range) if prices rally sharply from this region then this bottom could prove to be more sustainable than the majority believe. Trading Strategy: Traders should sell EU above 1.2655. Stop out above 1.2685. GBP vs USD GBP trends point down, with prices now closing in on strong support in the 1.8250/1.8300 zone from where prices should reverse sharply. USD vs JPY Yesterday’s reversal from just above the 107.80 zone could mark a more sustainable high although for now it is too early to tell. For now the short-term trend points higher and will continue to do so as long as the 106.00/50 support range holds. EU vs JPY Short-term EU trends point lower with the possibility that the consolidation of the last few days is now complete. This would be further implied on a consolidation below the 135.00 zone. We’ll hold off selling till then. A return to the 136.00 area is still possible. Once consolidation is complete, expect a decline below the 134.35 low of May 6th, in due course. GBP vs EUR Broader trends remain neutral, although yesterday’s sharp GBP weakness took the market back to support around 1.4540. As long as this low holds then expect some GBP retracement in the next day or so. Trading Strategy: Traders should buy the GBP around current levels (1.4540) as long as yesterday’s low (1.4522) holds. Wednesday 18th May 2005 EU vs USD The market remains in a short-term consolidation pattern that should be followed by a break below the 1.2577 low of May 16th and a decline to test strong support in the 1.2500/50 zone in the next couple of days. Despite last week’s break of major support (1.2720/30 range) there is a distinct possibility of a major reversal from the above area. Trading Strategy: Traders are holding short from yesterday above 1.2655. Lower the stop to 1.2630. GBP vs USD Overall GBP trends continue to point lower, although the market is fast closing in on major support in the 1.8250/1.8300 zone. We are buyers of the GBP, but will hold off for a few hours more. USD vs JPY The USD bounced sharply from just above the upper end of the 106.00/50 zone yesterday, with the market now sandwiched above here but below supply in the 107.75/80 range. We would be interested in the short side if the market consolidates below 107.40. EU vs JPY Overall EU trends point lower, although it appears that the consolidation of the last few days is incomplete. We are looking for a return to the 136.20/50 range before another decline sets in. Once consolidation is complete, expect a decline below the 134.35 low of May 6th, in due course. EUR vs GBP Short-term trends for the EUR remain up, although the market is now trading around retracement supply at the 0.6880 zone. However, so far, this area has not provoked any great EUR selling pressure so if it gives way then we will assume that prices are going to the 0.6900 region in the next couple of days. Thursday 19th May 2005 EU vs USD The market rallied yesterday, although tough overhead supply is now apparent in the 1.2690/1.2700 zone. A move to retest major support in the 1.2500/50 zone is still expected in the next couple of days. Trading Strategy: Traders should short the EU above 1.2680. Stop out above 1.2705. Targeting 1.2600 and below. GBP vs USD Prices just crept into the upper end of the 1.8250/1.8300 zone yesterday. Given the extent of recent weakness it is probable that this area will be seen again in the coming days. We remain buyers of the GBP into weakness. USD vs JPY The USD rallied up to overhanging supply in the 107.75/80 range yesterday, with prices backing away from here and now set to retest strong support in the 106.00/50 range. With momentum readings sharply falling, we will hold off buying, for now. EU vs JPY Basic analysis from yesterday remains intact namely that overall EU trends point lower, although it appears that the consolidation of the last few days is incomplete. Still think a return to the 136.20/50 range is probable before another decline sets in. If this occurs, then expect a decline below the 134.35 low of May 6th. Trading Strategy: Traders should buy the EU below 135.50. Stop out below 135.20. Targeting 1.3600 and above. EU vs GBP Short-term trends for the EU continue to point up and with prices exceeding retracement supply at the 0.6880 zone the market is now testing supply at the 0.6900 region. This area is a tough resistance zone, however, with the good chance of a sharp reversal from here. Trading Strategy: Traders should sell the EU above 0.6889. Stop out above 0.6902. Initially targeting below 0.6860. Disclaimer: The data shown and the views expressed on the sheet are for information purposes only and do not constitute recommendations to trade. Vision Economics Ltd does not accept any responsibility for loss or damage through any actions taken or not taken as a result of reading any information provided. |