AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

AceTraderFx Jul 15: Daily Recommendations on Major - USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 15 Jul 2016 09:09 GMT

USD/JPY - 105.92
Although intra-day break of yesterday's high of 105.94 to 106.32 in Asia confirms recent upmove from Jun's 29-month trough at 99.00 has once again resumed, near term loss of momentum may cap price below dollar's pre-Brexit peak at 106.84 today and bring a much-needed retracement of aforesaid rise later.

A daily close below 104.99/05 would be the 1st signal a temporary top is in place and yield weakness to 113.91/99 tomorrow or early next week.

 

[AceTRaderForex]

AceTraderFx Jul 18: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 18 Jul 2016 01:12GMT

EUR/USD - 1.1060
Euro's intra-day selloff from 1.1149 (Europe) to 1.1053 after release of upbeat U.S. economic data and then brief drop to 1.1025 near New York close on news of a military coup in Turkey confirms near term erratic rise from 1.1002 has ended at 1.1165 (Thursday) and downside bias remains.
However, as daily outlook remains broadly consolidative, reckon pivotal sup at 1.0971 would remain intact.

Expect 1.1098 (previous sup, now res) to cap recovery in Asia and yield marginal decline decline below said Friday's low and only above 1.1100/10 may risk stronger gain to 1.1130/40 before prospect of another fall.

 

[AceTRaderForex]

AceTraderFx Jul 18: Daily Recommendations on Major - USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 18 Jul 2016 09:00 GMT

USD/JPY - 105.57
Last week's rally above res at 103.40 (now sup) signals erratic rise from Jun's 29-month trough at 99.00 to retrace Medium term downtrend has resumed and despite Friday's intra-day selloff from 1106.32 to 104.64, subsequent strong rebound to 106.02 ahead of Asian open today suggests a few days choppy sideways trading is in store.

Above 106.02 would confirm pullback over and bring re-test of 106.32, break would extend to 107.00/10 but 107.84 (pre-Brexit high) would cap upside.
Below 104.64 would indicate a temporary top has been made and bring retracement towards 103.91 before rebound occurs.

 

[AceTRaderForex]

AceTraderFx Jul 18: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 19 Jul 2016 01:28 GMT

EUR/USD - 1.1067
Although yesterday's rebound from 1.1038 (Europe) to 1.1084 in New York suggests decline from last week's high at 1.1165 (Thursday) had made a temporary low at 1.1025 on Friday and choppy consolidation is in store, reckon 1.1026/29 would cap upside and bring another fall later today or tomorrow, loss of momentum should prevent steep drop ahead of Thursday's ECB monetary policy meeting and sup at 1.1002 would contain weakness.

Only above 1.1149 (Friday's high) may risk re-test of 1.1165 but as price is expected to remain confined inside the 3-week long established range of 1.1190-1.0971, upside would falter below strong res at 1.186/90.

 

[AceTRaderForex]

AceTraderFx Jul 19: Daily Recommendations on Major - USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 19 Jul 2016 09:12 GMT

USD/JPY - 105.96
Last week's rally above res at 103.40 (now sup) signals erratic rise from June's 29-month trough at 99.00 to retrace Medium term downtrend has resumed and despite Friday's intra-day selloff from 1106.32 to 104.64, yesterday breach of said res suggests choppy trading with upside bias remains.
Above 106.33 would extend gain to 107.00/10 but price should falter below 107.84 (pre-Brexit high) today.

On the downside, below 104.64 would indicate a temporary top has been made and bring retracement towards 103.91 before rebound occurs.

 

[AceTRaderForex]

AceTraderFx Jul 20: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 20 Jul 2016 01:20 GMT

EUR/USD - 1.1006
Yesterday's brief break of July's 1.1002 low to 1.1000 in New York after upbeat U.S. housing data should pressure euro towards indicated daily pivotal sup at 1.0971, a daily close below this level would confirm early correction from June's 3-month bottom at 1.0912 has ended, then weakness towards this key sup would be seen later this week.

Expect 1.1050/60 to cap intra-day recovery and yield further weakness, above there would abort present bearish scenario on euro and risk stronger retracement towards 1.1084.

 

[AceTRaderForex]

AceTraderFx Jul 20: Daily Recommendations on Major - USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 20 Jul 2016 09:12 GMT

USD/JPY - 106.39
Last week's rally above res at 103.40 (now sup) signals erratic rise from June's 29-month trough at 99.00 to retrace Medium term downtrend has resumed and yesterday's breach of last Friday's 106.32 high to 106.53 suggests choppy trading with upside bias remains.
Above 106.53 would extend gain to 107.00/10 but price should falter below 107.84 (pre-Brexit high) today.

On the downside, below 104.64 would indicate a temporary top has been made and bring retracement towards 103.91 before rebound occurs.

 

[AceTRaderForex]

AceTraderFx Jul 21: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 21 Jul 2016 04:01 GMT

EUR/USD - 1.1022
Despite euro's recovery in Wed's New York session after intra-day resumption of recent erratic decline to a 3-week trough of 1.0982 in early European trading and consolidation is seen ahead of ECB's monetary policy meeting decision and then ECB President Draghi's post-meeting press conference, as long as 1.1084 res holds, weakness to daily pivotal sup at 1.0971 is expected where a daily close below this level would bring re-test of Jun's 3-month bottom at 1.0912.

On the upside, above 1.1084 would suggest euro's daily swings in last 3 weeks inside early broad range of 1.1186-1.0971 would continue, then risk is seen for another rise to 1.1126/29 but 1.1165 (last week's high) should remain intact.

 

[AceTRaderForex]

AceTraderFx Jul 21: Daily Recommendations on Major - USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 21 Jul 2016 08:46 GMT

USD/JPY - 106.82
Despite dollar's intra-day extension of erratic upmove form Jun's 29-month trough at 99.00 to a fresh 6-week peak at 107.49 in Asia, subsequent intra-day retreat suggests choppy trading would be seen before said move to retrace MT downtrend resumes to next upside target 107.90.

On the downside, only below 106.00/10 would indicate a temporary top has been made and bring retracement towards 105.66 before prospect of a rebound.

 

[AceTRaderForex]

AceTraderFx Jul 22: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 22 Jul 2016 05:35 GMT

EUR/USD - 1.1026
Despite euro's brief bounce to 1.1060 during post-ECB meeting press conference, intra-day selloff to 1.0980 in New York morning to a fresh 3-week trough of 1.0980 and then subsequent bounce to 1.1036 (Australia) strongly suggests temporary low has been formed and consolidation with upside bias is in store, above 1.1060 confirms this move and brings stronger retracement to 1.1084, a daily close above there would extend gain towards 1.1449 next week.

Only below indicated daily pivotal sup at 1.0971 would risk re-test of June's 3-month trough at 1.0912.

 

[AceTRaderForex]

AceTraderFx Jul 25: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 25 Jul 2016 03:02 GMT

EUR/USD - 1.0970
Friday's brief break of indicated daily pivotal sup at 1.0971 to 1.0955 in New York session following upbeat U.S. data and later news of shooting in Munich suggests a 'downside break' of recent 1-month long broad consolidation has occured and re-test of June's 3-month trough at 1.0912 is in the cards after consolidation.

Expect 1.1000/10 to hold for this move n only above there would 'prolong' recent daily wild swings and may risk another rise towards 1.1030/40 later.

 

[AceTRaderForex]

AceTraderFx Jul 25: Daily Recommendations on Major - USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 25 Jul 2016 09:09 GMT

USD/JPY - 106.27
Although dollar's sharp selloff from a fresh 6-week peak at 107.49 to as low as 105.42 last Thursday signals erratic upmove form June's 29-month trough at 99.00 has formed a temporary top there, subsequent rebound to 106.40 on Friday and then 106.73 in Asia today suggests first leg of correction over and choppy trading would be seen but reckon 107.27 res would hold and yield another fall later.

Below 105.42 would bring stronger retracement towards 64 before prospect of a rebound. Only above 107.49 indicates Medium term decline is still being retraced and extend gain to next upside target 107.90.

 

[AceTRaderForex]

AceTraderFx Jul 26: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 26 Jul 2016 09:12 GMT

USD/JPY - 104.10
Dollar's selloff from yesterday's high of 106.73 and then today's firm breach of sup at 105.42 (now res) signals erratic upmove form June's 29-month trough at 99.00 has formed a temporary top at last Thursday's 6-week peak of 107.49 and consolidation with downside bias is seen for weakness to 103.75 (50.0% r).

However, reckon 103.30/40 would limit downside today and bring rebound later.
On the upside, only above 106.73 would confirm correction over and bring re-test of 107.49, break would extend gain towards 107.90/00.

 

[AceTRaderForex]

AceTraderFx Jul 27: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 27 Jul 2016 09:09 GMT

USD/JPY - 105.45
Although dollar's spectacular rally to 106.54 in Asia on talk of more Japan's stimulus package suggests correction from last Thursday's 6-week peak at 107.49 has ended at 103.99 on Tuesday, subsequent intra-day retreat to 105.10 suggests choppy trading would be seen but as long as 104.60 holds, upside bias remains.
Above pivotal res at 106.73 anytime would confirm this view and bring re-test of 107.49 'later'

On the downside, only below 103.99 would bring stronger retracement of erratic upmove form June's 29-month trough at 99.00 to 103.25 (50% r) but sup at 102.45 should remain intact.

 

[AceTRaderForex]

AceTraderFx Jul 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 28 Jul 2016 02:27 GMT

EUR/USD - 1.1067
Euro's spectacular rally yesterday from post-FOMC low at 1.0961 in New York to as high as 1.1076 in Australia earlier today has reinforced our previous view recent erratic decline has indeed formed a temporary low at Monday's 1-month trough at 1.0952 and consolidation with upside bias remains for further gain to 1.1120/30.

However, near term overbought condition would cap price well below res at 1.1165.
Expect 1.1030 (previous res, now sup) to hold for this move and only a daily close below there may risk stronger pullback but reckon 1.0978 would remain intact and yield another rise.

 

[AceTRaderForex]

AceTraderFx Jul 28: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 28 Jul 2016 09:12 GMT

USD/JPY - 104.74
Despite dollar's spectacular rally to 106.54 in Asia yesterday due to talk of more Japan's stimulus package, subsequent selloff following Fed's unchanged rate decision in New York session and then and fall below 105.10 (reaction low) to as low as 104.49 at European open today suggests choppy trading below last Thursday's 6-week peak at 107.49 would continue but only a break of 103.99 (Tuesday) would bring stronger retracement of early upmove from June's 29-month trough at 99.00 towards 103.25 later.

On the upside, above 105.30 would prolong choppy trading but res area at 106.05-14 should remain intact.

 

[AceTRaderForex]

AceTraderFx Jul 29: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 29 Jul 2016 04:37 GMT

EUR/USD - 1.1079
Yesterday's follow-through buying of euro in Asia and then in Europe to as high as 1.1120 after Fed left rate unchanged on Wednesday suggests upmove from this week's bottom at 1.0952 (Monday) would resume after consolidation and reckon 1.1030 (previous res, now sup) would contain pullback and yield further headway to 1.1140/50.
However, as broad outlook remains 'consolidative', res at 1.1186/90 should cap upside.

On the downside, only a daily close below 1.1030 may risk stronger retracement of aforesaid rise to 1.0998/1.1008 before prospect of another upmove next week.

 

[AceTRaderForex]

AceTraderFx Jul 29: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 29 Jul 2016 09:04 GMT

USD/JPY - 103.70
Although dollar's initial 'wild swings' in Australia and Asian morning ended with price tumbling from 105.75 to a 2-week trough of 102.71 after BoJ expanded its stimulus package smaller than market expectation, subsequent minor rebound suggests consolidation is in store.

Above 104.50 would signal recent decline from 107.49 (July's high) has made a low, then outlook would improve for stronger subsequent gain to 105.00.
Below 103.00 may risk re-test of 102.71, however, near term loss of momentum is likely to limit weakness to 102.20/25 today.

 

[AceTRaderForex]

AceTraderFx Aug 01: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 1 Aug 2016 01:03 GMT

EUR/USD - 1.1167
Last Friday's anticipated rally above 1.1120 (now sup) and then res at 1.1190 (June's post-Brexit high) to 1.1197 after downbeat U.S. GDP confirms medium-term downtrend from 1.1617 (May high) has indeed formed a low earlier at 1.0912 in June and outlook remains supportive for further headway to 1.1230/40 after consolidation, near term loss of momentum should prevent strong gain above indicated target today.

On the downside, only below 1.1120 signals temporary high is in place, then risk would shift to the downside for retracement to 1.1095/00.
However, reckon 1.1060/68 should remain intact and bring another rebound.

 

[AceTRaderForex]

AceTraderFx Aug 01: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 1 Aug 2016 04:03 GMT

EUR/USD - 1.1167
Last Friday's anticipated rally above 1.1120 (now sup) and then res at 1.1190 (June's post-Brexit high) to 1.1197 after downbeat U.S. GDP confirms medium-term downtrend from 1.1617 (May high) has indeed formed a low earlier at 1.0912 in June and outlook remains supportive for further headway to 1.1230/40 after consolidation, near term loss of momentum should prevent strong gain above indicated target today. On the downside, only below 1.1120 signals temporary high is in place, then risk would shift to the downside for retracement to 1.1095/00, however, reckon 1.1060/68 should remain intact and bring another rebound.