AceTraderFx : Daily Recommendations on Major

Discussion in 'Technical Analysis' started by AceTRaderForex, Feb 17, 2016.

  1. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 17: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 17 Feb 2016 05:03 GMT

    EUR/USD - 1.1142
    Despite intra-day anticipated brief break of yesterday's 1.1124 low to 1.1119 at Asian open, as recent decline from last Thursday's 3-1/2 month peak at 1.1377 is losing 'downward momentum', steep fall is not envisaged today and reckon euro's downside would hold well above last week's 1.1086 low and bring subsequent rebound.

    On the upside, above 1.1147/52 would be the 1st signal said decline has possibly made a temporary low and bring gain to re-test Tuesday's 1.1193 high, break there would yield stronger retracement to 1.1245/50 later.
     
    Last edited by a moderator: Oct 18, 2016
  2. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 18 Feb 2016 03:28 GMT

    EUR/USD - 1.1136
    Despite yesterday's resumption of decline from last Thursday's 3-1/2 month peak of 1.1377 to 1.1106 in New York morning, subsequent rebound following mildly dovish FOMC minutes suggests temporary low is possibly made and consolidation with upside bias is in store, above 1.1193 would confirm this view and bring stronger retracement to 1.1240/50.

    Below 1.1106 would extend marginal weakness, however, loss of downward momentum should prevent steep fall today and reckon daily chart sup at 1.1086 would hold on 1st testing and bring rebound.
     
  3. AceTRaderForex

    AceTRaderForex Master Trader

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


    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 18 Feb 2016 09:13 GMT

    USD/JPY - 113.68
    Dollar's intra-day retreat from 114.32 suggests further choppy trading below Tuesday's high at 114.88 would continue with downside bias, however, below yesterday's low at 113.38 is needed to signal the correction from last week's trough at 110.99 has ended there and yield stronger retracement towards 113.10/20, however, support at 112.93 should remain intact and yield rebound later.

    On the upside, only above 114.51 would indicate aforesaid pullback is over instead and turn outlook bullish for a re-test of said top, break, 115.10/20.
     
  4. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 19: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 19 Feb 2016 05:16 GMT

    EUR/USD - 1.1123
    Although euro's break of indicated daily sup at 1.1086 to 1.1071 in New York morning on Thur suggests the medium- term rise from 2015 Dec's 7-1/2 month bottom at 1.0523 has made a top last week at 1.1377, intra-day rebound in Asia today suggests consolidation with near term upside bias is in store, above 1.1150/57 res would bring stronger retracement to 1.1179, however, reckon res at 1.1193 would hold and yield retreat later today or Monday.

    Below 1.1071 would extend to 1.1060 (December's high, now sup), however, weakening of downward momentum should keep euro above projected sup at 1.0035/40.
     
  5. AceTRaderForex

    AceTRaderForex Master Trader

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


    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 19 Feb 201609:02 GMT

    USD/JPY - 112.94
    Dollar's intra-day retreat from 114.32 suggests further choppy trading below Tuesday's high at 114.88 would continue with downside bias, however, below hourly support at 112.59 is needed to signal the correction from last week's trough at 110.99 has ended there and yield stronger retracement towards 112.10/13.
    However, support at 111.89 should remain intact and yield rebound later.

    On the upside, only above 114.51 would indicate aforesaid pullback is over instead and turn outlook bullish for a re-test of said top, break, 115.10/20.
     
  6. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 19: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 22 Feb 2016 03:44 GMT

    EUR/USD - 1.1112
    Despite euro's resumption of decline from February's 3-1/2 month peak of 1.1377 to a 2-week trough of 1.1067 in New York last Friday, subsequent rebound to 1.1138 suggests temporary low is possibly in place and a day of choppy consolidation with upside bias is envisaged.
    Above 1.1138/39 res would add credence to this view and yield a much-needed retracement towards 1.1179, however, reckon res at 1.1193 would cap upside.

    On the downside, only below 1.1060 (previous res, now sup) would risk marginal weakness, near term loss of momentum momentum should prevent steep fall and 1.1030/40 is expected to contain weakness, bring correction.
     
  7. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 22: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 22 Feb 2016 08:31 GMT

    USD/JPY - 112.94
    Dollar's intra-day selloff from 113.21 to 112.31 on Friday strongly suggests the first leg of correction from February's 15-month trough at 110.99 has ended at 114.88 last Tuesday and consolidation with downside bias would be seen for weakness towards 112.10/13.
    However, near term loss of momentum would keep price above support at 111.66/70.

    On the upside, only above 114.51 would indicate aforesaid pullback is over instead and turn outlook bullish for a re-test of said top, break, 115.10/20.
     
  8. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 23: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 23 Feb 2016 03:45 GMT

    EUR/USD - 1.1043
    Euro's selloff below 1.1067/71 sup (now res) yesterday's to 1.1003 in New York suggests decline from Feb's 3-1/2 month peak at 1.1377 would resume after minor consolidation and further weakness to 1.0985 is envisaged.
    However, near term loss of momentum should prevent steep fall and reckon 1.3950/60 would hold from here today and risk has increased for a much-needed correction to take place.

    On the upside, a daily close above 1.1067 would confirm aforesaid decline has finally formed a temporary low, then stronger retracement to 1.1138/39 would follow, however, res at 1.1193 should remain intact.
     
  9. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 23: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 23 Feb 2016 09:04 GMT

    USD/JPY - 111.99
    Dollar's selloff to 112.31 last Friday, then intra-day fall below this level strongly suggests the first leg of correction from February's 15-month trough at 110.99 has ended at 114.88 last Tuesday and consolidation with downside bias would be seen for weakness towards 111.70/80.
    However, near term loss of momentum would keep price above support at 111.57/60.

    On the upside, only above 113.05 would indicate aforesaid pullback is over instead and turn outlook bullish for stronger gain towards 113.39, then 113.62.
     
  10. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 24: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 24 Feb 2016 04:48 GMT

    EUR/USD - 1.1010
    Although euro is expected to gain respite in Asia following yesterday's intra-day decline from 1.1052 to 1.0990 following release of downbeat German Ifo data and initial consolidation is in store, outlook remains mildly bearish for recent decline from February's 1.1377 peak to pressure price to 1.0950/60.
    However, loss of near term downward momentum should prevent steep fall and risk has increased for a much-needed minor correction to take place later today or tomorrow.
    On the upside, expect 1.1052 to hold and yield one more fall, only a daily close above 1.1067/71 would signal temporary bottom is finally in place and may bring stronger retracement towards 1.1093.
     
  11. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 24: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 24 Feb 2016 08:26 GMT

    USD/JPY - 112.07
    Dollar's selloff to 111.77 yesterday, then intra-day fall below this level strongly suggests the first leg of correction from February's 15-month trough at 110.99 has ended at 114.88 last Tuesday and consolidation with downside bias would be seen for weakness towards 111.30/40, however, near term loss of momentum would keep price above support at 111.10/15.

    On the upside, only above 113.05 would indicate aforesaid pullback is over instead and turn outlook bullish for stronger gain towards 113.39, then 113.62.
     
  12. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 25 Feb 2016 05:00 GMT

    EUR/USD - 1.1027
    Although yesterday's rally from a fresh 3-week bottom of 1.0957 to as high as 1.1046 in New York session confirms euro's recent decline from February's 1.1377 peak has finally made a temporary low and 1-2 days of choppy consolidation is in store, as long as 1.1067/71 (previous ups, now res) holds, downside bias remains.
    Below 1.0957 needed to extend marginal weakness, loss of momentum should keep price well above minor chart at 1.0904.

    A firm rise above 1.1071 would signal long-awaited correction of aforesaid decline has taken place and risk stronger retracement towards 1.1138/39 before prospect of retreat next week.
     
  13. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 25 Feb 2016 08:37 GMT

    USD/JPY - 112.17
    Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 112.63 is likely to be seen. However, as broad outlook remains consolidative, reckon resistance at 113.05 should remain intact and bring another fall later today or early tomorrow.

    On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
     
  14. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 26: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 26 Feb 2016 03:38 GMT

    EUR/USD - 1.1049
    Despite yesterday's intra-day choppy swings after early decline to to Wed's 3-week trough at 1.0957, subsequent rebound from 1.0987 to 1.1050 in New York session, then intra-day brief rise to 1.1060 in Asia today suggests recent fall from Feb's 3-1/2 month peak at 1.1377 has made a temporary low and consolidation with upside bias remains for a long-overdue correction to 1.1090/00, near term o/bot condition should cap euro below 1.1138/39 res.

    On the downside, only below 1.0987 sup suggests correction is over and risks re-test of 1.0957, however, loss of downward momentum should keep price well above minor daily sup at 1.0904 today.
     
  15. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 26 Feb 2016 08:32 GMT

    USD/JPY - 112.86
    Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 113.39/40 is likely to be seen.
    However, as broad outlook remains consolidative, reckon resistance at 113.95 should remain intact and bring another fall later today or early tomorrow.

    On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
     
  16. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK

    Update Time: 29 Feb 2016 02:35 GMT

    EUR/USD - 1.0925
    Euro's intra-day selloff in New York session on Friday after release of a slew of upbeat U.S. economic data and subsequent breach of 1.0957 sup (now res) to a fresh 3-week trough of 1.0911/12.
    This suggests recent decline from February's 1.1377 peak to retrace medium-term upmove from 1.0523 (2015 December bottom) would pressure price towards 1.0849 (61.8% r) later this.

    Today, outlook remains bearish for weakness to 1.0880/90 after consolidation and only a daily close above 1.0957 would indicate temporary low is in place and risk stronger retracement towards 1.1020/30 but res at 1.1068 (Friday's high) should remain intact.
     
  17. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK

    Update Time: 29 Feb 2016 09:08 GMT

    USD/JPY - 113.04
    Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.

    On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
     
  18. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Mar 1: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 01 Mar 2016 03:33 GMT

    EUR/USD - 1.0880
    Despite yesterday's anticipated resumption of recent decline from February's 1.1377 peak to a fresh 3-week low of 1.0859 after data showed euro zone moved back into deflation, subsequent minor recovery in New York due to downbeat U.S. economic data suggests consolidation is in store.
    As long as 1.0912 (last Friday's low, now res) holds, marginal weakness is likely, however, loss of near term downward momentum should keep price above 1.0810 sup and bring correction later today or tomorrow.

    A firm rise above 1.0912/22 would be the 1st signal temporary bottom is in place and bring stronger retracement twd 1.0957/63.
     
  19. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Mar 1: Daily Recommendations on Major -USD/JPY


    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 01 Mar 201609:19 GMT

    USD/JPY - 113.11
    Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.

    On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.
     
  20. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Mar 2: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK
    Update Time: 02 Mar 2016 03:08 GMT

    EUR/USD - 1.0870
    Despite yesterday's anticipated resumption of recent decline from Feb's 3-1/2 month peak at 1.1377 to a 1-month trough of 1.0834 after release of a string of upbeat U.S. data and dovish comments by ECB President Mario Draghi, subsequent short-covering rebound signals temporary low has been made and consolidation is in store.
    As long as 1.0912 (previous low, now res) holds, marginal weakness is likely, however, weakening of downward momentum should limit downside to 1.0800/10 and bring correction later this week.
    On the upside, a daily close above 1.0912 would confirm long-awaited correction has taken place, then risk is seen for stronger retracement to 1.0950/60 but 1.0987/90 should cap upside.
     

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