AceTraderFx : Daily Recommendations on Major

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Apr 26: Daily Recommendations on Major -EUR/USD


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DAILY MARKET OUTLOOK
Update Time: 26 Apr 2016 03:08 GMT

EUR/USD - 1.1267
Friday's breach of previous week's low at 1.1234 to 1.1218 in New York and then marginal weakness to a fresh 3-week trough at 1.1216 ahead of Asian open yesterday signals erratic decline from April's 5-1/2 month peak at 1.1465 to retrace Medium Term uptrend has resumed and further weakness to next daily chart objective at 1.1144 is seen after consolidation.

On the upside, only a daily close above 1.1309/10 would indicate a temporary bottom has bee made and yield retracement towards 1.1345/55 but resistance at 1.1399 (last Thursday's high) should cap upside.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 27: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 27 Apr 2016 01:08 GMT

EUR/USD - 1.1306
Friday's breach of previous week's low at 1.1234 to 1.1218 in New York and then marginal weakness to a fresh 3-week trough at 1.1216 ahead of Asian open yesterday signals erratic decline from April's 5-1/2 month peak at 1.1465 to retrace Medium Term uptrend has resumed and despite subsequent rebound to as high as 1.1340 yesterday, reckon daily resistance at 1.1399 would cap upside and downside bias remains for further weakness to next daily chart objective at 1.1144 after consolidation.

On the upside, only a daily close above 1.1399 would turn outlook bullish for subsequent gain to 1.1438 and then a possible re-test of 1.1465.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
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74
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www.acetraderfx.com
AceTraderFx Apr 27: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 27 Apr 2016 09:13 GMT

USD/JPY - 111.18
Although dollar has extended erratic upmove from April's 17-month trough at 107.63 to a fresh 3-week peak of 111.91 on Monday, subsequent cross-inspired retreat to 110.67 yesterday suggests choppy trading would be seen ahead of FOMC rate decision and statement later today.
Above 111.91 would signal said move to retrace Medium Term downtrend has resumed and extend gain towards 112.50/60 later.

On the downside, only a daily close below 110.67 would abort and risks correction towards 110.28.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 28: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 28 Apr 2016 01:08 GMT

EUR/USD - 1.1308
Although euro has retreated after a brief rally from 1.1272 to 1.1363 in post-FOMC New York session, only below said sup would indicate recovery from Mon's 3-week trough at 1.1216 has ended there and yield re-test of this level later today or tomorrow.
Break there anytime would confirm erratic decline from April's 5-1/2 month peak at 1.1465 to retrace Medium Term uptrend has resumed and yield further weakness to next daily chart objective at 1.1144.

On the upside, only a daily close above 1.1399 would turn outlook bullish for subsequent gain to 1.1438 and then a possible re-test of 1.1465.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 28: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 28 Apr 201609:03 GMT


USD/JPY - 108.33
Dollar's intra-day more than 3 percent decline from Asian high of 111.88 to as low as 108.06 in European after unchanged BoJ's rate decision confirms correction from April's 17-month trough at 107.63 has ended on Monday at 111.91 and consolidation with downside bias would be seen.
However, break of said sup is needed to confirm Medium Term downtrend has resumed and extend weakness towards 106.90/00 later.

On the upside, only a daily close above 109.40/50 would indicate further choppy sideways would continue and yield gain towards 109.90/00 before retreat occurs.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 29: Daily Recommendations on Major -EUR/USD
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DAILY MARKET OUTLOOK
Update Time: 29 Apr 2016 05:08 GMT

EUR/USD - 1.1364
As euro has rebounded after yesterday's intra-day pullback from 1.1368 (Europe) to 1.1310 in New York, suggesting upside bias remains for erratic rise from Monday's 3-week trough at 1.1216 to extend gain towards next chart objective at 1.1399 after consolidation.
However, a daily close above there is needed to confirm early correction from April's 5-1/2 month peak at 1.1465 has ended there and yield re-test of this res next week, then resumption of Medium Term uptrend to 1.1500 later.

On the upside, only a daily close below 1.1272 would indicate aforesaid recovery from 1.1216 over instead and bring re-test of 1.1216, break would extend weakness to 1.1160/70.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 29: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 29 Apr 2016 09:03 GMT

USD/JPY - 107.04
As dollar has followed yesterday's decline on renewed broad-based buying in yen and penetrated previous April's bottom at 107.63 to a fresh 18-month trough at 107.08 in Asia, then marginally lower to 106.91 in European morning, confirming Medium Term downtrend from 2015 peak at 125.86 has resumed and further weakness to 106.55 and later 106.10 is seen next week, however, o/sold condition would prevent sharp decline below latter indicated level and yield a much-needed minor correction later.

On the upside, only a daily close above 108.73 would indicate a temporary low has been made and bring retracement to 109.40/50 and possibly towards 109.80/90 before down.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 3: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 3 May 2016 09:03 GMT

USD/JPY - 105.56
As the greenback has continued to ratchet lower after intra-day breach of yesterday's fresh 18-month trough at 106.14, suggesting recent decline remains in progress and downside bias would be seen for weakness towards 105.10/20.
However, loss of momentum would prevent steep fall below there and reckon support at 104.88 would remain intact and yield a much-needed correction later.

On the upside, only above resistance at 106.82 would indicate a temporary low has been made and turn outlook bullish for a stronger retracement towards 107.88/92.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 4: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 4 May 2016 02:08 GMT

EUR/USD - 1.1480
Despite yesterday's resumption of recent upmove and intra-day rally to an 8-month peak of 1.1617 in Europe, subsequent selloff in new York session due to broad-based short-covering in the greenback confirms temporary top has been made and consolidation with initial downside bias is seen, below 1.1447/48 support needed to bring stronger correction to 1.1410/14.

On the upside, above 1.1539/42 suggests 1st leg of correction is over and may bring stronger gain to 1.1580/85 but 1.1617 should remain intact ahead of release Fri's key U.S. jobs data.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 6: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 06 May 2016 06:08 GMT

EUR/USD - 1.1401
Yesterday's selloff below 1.1467 sup (now res) to as low as 1.1386 in New York morning due to renewed broad-based USD's strength ahead of release of key U.S. jobs report later today confirms euro's medium-term uptrend from 1.0523 (December 2015) has formed a top at Tuesday's 8-month peak at 1.1617 and consolidation with downside bias remains for further weakness 1.1310/20 later today or next Monday, oversold condition should keep price above 1.1272 sup.

On the upside, a daily close above 1.1467 (possibly due to downbeat U.S. payrolls data) would signal 1st leg of correction from 1.1617 over and risk stronger retracement towards 1.1530 but 1.1560/65 should cap upside.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 6: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 06 May 2016 09:29 GMT

USD/JPY - 106.95
Despite Tuesday's resumption of recent downtrend to a fresh 18-month trough at 105.55 in European session, subsequent strong rebound and brief spike up to 107.47 in Australia today suggests a temporary bottom has been made and consolidation with upside bias would be seen for gain towards 107.90/00.

However, resistance at 108.73 would remain intact and bring another fall later.
On the downside, only below 106.13 would confirm aforesaid recovery has ended and turn outlook bearish for a re-test of 105.55, break would extend Medium Term downtrend to 105.05/10.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 9: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 09 May 2016 05:08 GMT

EUR/USD - 1.1402
Euro's selloff from 1.1481 to 1.1387 last Friday and intra-day breach of this support signals decline from last Tuesday's 8-month peak at 1.1617 has once again resumed and consolidation with downside bias is seen for weakness towards 1.1360/70, then 1.1341.
However, near term loss of momentum would prevent steep fall below there and reckon support at 1.1310 would remain intact and yield rebound later.

On the upside, only above 1.1481 would indicate aforesaid pullback has ended instead and turn outlook bullish for gain towards 1.1530
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 9: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 09 May 2016 09:09 GMT

USD/JPY - 107.57
Despite last Tuesday's resumption of recent downtrend to a fresh 18-month trough at 105.55 in European session, subsequent strong rebound to 107.50 last Thursday and intra-day breach of this level suggests a temporary bottom has been made and consolidation with upside bias would be seen for gain towards 107.90/00.
However, resistance at 108.73 would remain intact and bring another fall later.

On the downside, only below 106.13 would confirm aforesaid recovery has ended and turn outlook bearish for a re-test of 105.55, break would extend Medium Term downtrend to 105.05/10.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 10: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 10 May 2016 01:08 GMT

EUR/USD - 1.1390
Euro's selloff from 1.1481 to 1.1387 last Friday and intra-day breach of this support signals decline from last Tuesday's 8-month peak at 1.1617 has once again resumed and consolidation with downside bias is seen for weakness towards 1.1360/70, then 1.1341.
However, near term loss of momentum would prevent steep fall below there and reckon support at 1.1310 would remain intact and yield rebound later.

On the upside, only above 1.1481 would indicate aforesaid pullback has ended instead and turn outlook bullish for gain towards 1.1530.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 10: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 10 May 2016 09:09 GMT

USD/JPY - 108.89
Despite last Tuesday's resumption of recent downtrend to a fresh 18-month trough at 105.55 in European session, subsequent strong rebound to 108.60 yesterday and intra-day breach of this level suggests a temporary bottom has been made and consolidation with upside bias would be seen for gain towards 109.10/20.
However, resistance at 109.46 would remain intact and bring another fall later.

On the downside, only below 106.13 would confirm aforesaid recovery has ended and turn outlook bearish for a re-test of 105.55, break would extend Medium Term downtrend to 105.05/10.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 11: Daily Recommendations on Major -EUR/USD


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DAILY MARKET OUTLOOK
Update Time: 11 May 2016 01:08 GMT

EUR/USD - 1.1374
Euro's retreat yesterday and subsequent breach of Monday's low at 1.1375 to 1.1359 signals decline from last Tuesday's 8-month peak at 1.1617 has once again resumed and consolidation with downside bias is seen for weakness towards 1.1341.
However, near term loss of momentum would prevent steep fall below there and reckon support at 1.1310 would remain intact and yield rebound later.

On the upside, only above 1.1481 would indicate aforesaid pullback has ended instead and turn outlook bullish for gain towards 1.1530.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 12: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 12 May 2016 02:08 GMT

EUR/USD - 1.1427
Despite the single currency's retreat to 1.1359 on Tuesday, subsequent strong rebound to 1.1447 yesterday suggests the decline from last Tuesday's 8-month peak at 1.1617 has possibly made a temporary low there and consolidation with upside bias would be seen for gain towards 1.1481.
However, near term loss of momentum would prevent strong gain above there and reckon resistance at 1.1530 would hold and yield retreat.

On the downside, only below 1.1375 would revive bearishness for stronger retracement of recent uptrend towards 1.1341, then 1.1300/10.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 12: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 12 May 2016 09:09 GMT

USD/JPY - 108.91
Despite last Tuesday's resumption of recent downtrend to a fresh 18-month trough at 105.55 in European session, subsequent strong rebound to 109.38 yesterday suggests a temporary bottom has been made and consolidation with upside bias would be seen for marginal gain towards 109.60.
However, resistance at 109.90 would remain intact and bring another fall later.

On the downside, only below 106.13 would confirm aforesaid recovery has ended and turn outlook bearish for a re-test of 105.55, break would extend Medium Term downtrend to 105.05/10.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 13: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 13 May 2016 04:08 GMT

EUR/USD - 1.1373
Despite the single currency's strong rebound from Tuesday's low at 1.1359 to 1.1447 on Wednesday, yesterday's retreat suggests aforesaid recovery is over and decline from last Tuesday's 8-month peak at 1.1617 would resume after consolidation and extend towards 1.1341, then 1.1310 ahead of today's U.S. retail sales data.
However, support at 1.1272 should hold and yield recovery later.

On the upside, only above 1.1415 would indicate pullback from 1.1447 has ended instead and turn outlook bullish for gain to said resistance.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx May 16: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 16 May 2016 02:08 GMT

EUR/USD - 1.1306
The single currency's selloff from last Wednesday's high at 1.1447 to 1.1283 on Friday after the release of upbeat U.S. economic data signals decline from May's 8-month peak at 1.1617 remains in progress and consolidation with downside bias would be seen for weakness towards 1.1272, then to 1.1234.
however, near term loss of momentum would keep price above April's bottom at 1.1216 and yield rebound.

On the upside, only above 1.1359 (previous support, now resistance) would indicate a temporary low has been made and risk stronger retracement towards 1.1415.