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Japanese GDP improves

al_dcdemo Posted 8 June  in #Trader's blog #Yen #USD/JPY #Gdp #Weekly Pivot Point #Daily Pivot Point #Capital Expenditure
Final revision to Japanese Q1 GDP was released overnight and it was a pleasant surprise to the upside with the Capital Expenditure also posting a big gain.
GDP (YoY): 3.9% vs. 2.7% expected, 2.4% previous
GDP (QoQ): 1.0% vs. 0.7% expected, 0.6% previous
GDP Capital Expenditure (QoQ): 2.7% vs. 2.3% expected, 0.4% previous
There was minor selling in USD/JPY after the release on the prospect that no additional easing will be required anytime soon. The pair found support at Daily Pivot Point (125.27…
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Aussie rallying on the RBA

al_dcdemo Posted 2 June  in #Trader's blog #AUD/USD #Aussie #Rba #Cash Rate #Weekly Pivot Point #Daily Resistance 1 #Rate Statement #Daily Resistance 2 #H1 50 Sma
As widely expected, RBA left the Cash Rate at 2.00%. Although they expressed an easing bias, the statement was not particularly dovish and the Aussie is rallying on it.
The pair broke yesterday's high near 0.7670. If it manages to hold above it, there's a cluster of resistance (Daily Resistance 2, Weekly Pivot Point, 0.77 level) between 0.7695 and 0.77. On the downside, Daily Resistance 1 and 0.7750 with H1 50 SMA just below that should now provide the first stronger level of support.
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EURo squeezes higher

al_dcdemo Updated 2 Apr.  in #Trader's blog #Nfp #Euro #EUR/USD #Weekly Pivot Point #Daily Resistance 3 #Good Friday
Short squeeze in thin liquidity continues as EUR/USD has just popped above Weekly Pivot Point at 1.0903, but is now pulling back through broken Daily Resistance 3. Daily range is currently 150 pips in what appears to be some profit taking / position squaring ahead of tomorrow's Good Friday holiday and NFP.
BTW: Good luck to all participants and happy trading in this month's contest!
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