AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 20 Sep 2016 09:29 GMT

USD/JPY - 101.73
Despite the greenback's strong rebound from last Tuesday's low at 101.42 to 103.36 last Wednesday, subsequent strong retreat suggests the recovery from September's low at 101.21 has ended there and choppy trading with downside bias would be seen for weakness towards 101.42, below would confirm this view and yield re-test of 101.21 later this week.

On the upside, only above 102.59 would indicate the pullback from 103.36 has ended instead and turn outlook bullish for gain towards 103.06.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 21 Sep 2016 01:09 GMT

EUR/USD - 1.1152
Despite yesterday's short-covering brief rise above 1.1198 res to 1.1213 in early European trading, subsequent decline to 1.1147 (Reuters) near New York close suggests euro is en route to key daily sup at 1.1123 after consolidation, loss of downward momentum is likely to keep price above sup at 1.1084 ahead of Fed's rate decision later in the day.

On the upside, only above 1.1198 signals temporary low is in place and risks re-test of 1.1213, break would risk stronger retracement of recent decline towards 1.1250/53.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 22 Sep 2016 01:50 GMT

EUR/USD - 1.1200
Despite yesterday's anticipated resumption of recent decline from September's 1.1366 high to a 1-month trough of 1.1121 ahead of European open, euro's subsequent rally in post-FOMC New York session to 1.1197, then intra-day break of this level at Asian open today signals aforesaid fall has made a temporary low and 1-2 days of consolidation with upside bias is in store.

Expect 1.1155/60 to hold and bring further gain towards 1.1250/53.
However, near term o/bough condition should cap price below previous res at 1.1184/85.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 22 Sep 2016 09:01 GMT

USD/JPY - 100.65
Despite intra-day resumption of decline from September's peak at 104.32 to 100.10 at Asian open, subsequent rebound suggests a temporary low has possibly been made and choppy trading with mild upside bias would be seen.
However, 101.02 (previous support, now resistance) would hold and yield retreat later today.

On the downside, only below 100.10 would revive bearishness for further weakness towards 100.65/70.
Having said that, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 23 Sep 2016 03:07 GMT

EUR/USD - 1.1211
Although yesterday's impressive rally in Europe and then intra-day gain to session highs of 1.1257 confirms recent decline has indeed made a temporary bottom at Wed's 5-week trough at 1.1121, subsequent retreat to 1.1200 ahead of New York close suggests 1st leg of correction has ended and sideways consolidation is in store, reckon 1.1160/70 would contain pullback and yield rebound.
However, above said yesterday's high needed to extend aforesaid upmove toward 1.1284/85.

On the downside, only below 1.1140 aborts daily bullish bias on the euro and risk would shift to the downside for weakness to 1.1121/23.

Pay attention to a slew of euro zone data in European morning.
Today is PMI day with France kicking off with France with GDP and Markit Mfg and Services PMIs, then the sames PMIs from Germany followed by the release of same PMIs from the EU.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 26 Sep 2016 03:02 GMT

EUR/USD - 1.1235
Friday's rebound from 1.1193 to 1.1240 (New York) strongly suggests euro's pullback last week's 1.1257 (Thursday) high has ended and near term upmove from Wednesday's 5-week bottom would head to 1.1284/85 after consolidation.
However, loss of upward momentum should prevent strong gain today and reckon 1.1300/10 would cap upside.

Only below 1.1193 sup dampens present bullish scenario on euro and may risk stronger retracement of aforesaid rise to 1.1160/70 before prospect of a rebound later this week.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 26 Sep 2016 09:17 GMT

USD/JPY - 100.60
Despite last week's resumption of decline from September's peak at 104.32 to 100.10 Thursday, subsequent strong rebound to 101.24 Friday suggests a temporary low has possibly been made and choppy trading with mild upside bias would be seen.
However, 101.58 (previous support, now resistance) would hold and yield retreat later today.

On the downside, only below 100.10 would revive bearishness for further weakness towards 100.65/70.
Having said that, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later.

 

[AceTRaderForex]

AceTraderFx Sept 27: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1244
Yesterday's anticipated resumption of near term upmove from last Wed's 5-week trough of 1.1121 to 1.1279 (New York) following release of upbeat German Ifo data suggests early erratic fall from 1.1366 (August's high) has ended and although intra-day retreat in Asia signals consolidation is in store before prospect of further gain, 'loss of momentum' is likely to limit upside to 1.1300/10 and bring pullback.

Expect 1.1221 sup to hold for aforesaid move and only below 1.1193 (Friday's low) dampens bullishness on euro and may risk stronger retracement to 1.1168/73.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 27 Sep 2016 09:20 GMT

USD/JPY - 100.54
Despite intra-day 1-tick break of last Thursday's 1-month trough at 100.10, subsequent rally to 100.99 suggests a minor low has possibly been made there and choppy trading with upside bias would be seen.
However, above resistance at 101.24 is needed to add credence to this view and yield stronger retracement of medium-term decline towards 101.58/60 before prospect of another retreat.

On the downside, only below 100.09 would revive bearishness for weakness towards 99.70/80.
However, near term loss of momentum would keep price above key daily support at 99.54 and yield correction.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 29 Sep 2016 02:07 GMT

EUR/USD - 1.1227
Despite euro's roller-coaster moves after staging a rebound from yesterday's 1.1182 low (Europe) to 1.1237, intra-day firmness suggests pullback from Monday's 1.1279 high has ended and outlook remains supportive for near term rise from last Wednesday's 5-week trough at 1.1121 to head to 1.1300 after consolidation.
However, 'loss of upward momentum' should cap price below daily res at 1.1327 today and risk has increased for a stronger correction to take place later.

On the downside, only below 1.1182 aborts present bullish scenario on euro and may yield weakness to 1.1149/50 but 1.1121 low should remain intact.

 

[AceTRaderForex]

AceTraderFx Sept 30: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 30 Sep 2016 02:14 GMT

EUR/USD - 1.1210
Although yesterday's anticipated rebound from 1.1197 to 1.1250 in New York session suggests euro's correction from this week's 1.1279 high has ended earlier at 1.1182 (Wednesday), subsequent intra-day choppy sideways swings suggest consolidation is in store before prospect of another rise, above 1.3250 is needed to retain bullishness for subsequent gain towards 1.3279.

A break below indicated sup at 1.1182 would risk stronger retracement towards 1.1149/50 but September's 5-week trough at 1.1121 should remain intact.

 

[AceTRaderForex]

AceTraderFx Sept 30: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 30 Sep 2016 09:32 GMT

USD/JPY - 101.08
Dollar's intra-day wild swings which started in Asia suggests early correction from Tuesday's 1-month bottom has made a top yesterday at 101.84 (New York) and choppy consolidation is expected to continue, as long as 101.40/50 holds, near term downside bias remains for weakness towards 100.45/50 later today due to anticipated renewed yen-buying on risk aversion, however, reckon 100.20 would hold from here.

Only above 101.79/84 res would bring stronger retracement of recent decline from September's 104.32 high to 102.20 (50% r) before prospect of another strong retreat early next week.

 

[AceTRaderForex]

AceTraderFx Oct 3: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 03 Oct 2016 04:28 GMT

EUR/USD - 1.1230
Despite Fri's decline to a 1-week low of 1.1153 on continued market woes over Deutsche Bank which had led to broad-based euro weakness in European trading, the single currency's rally to 1.1251 due to intra-day spectacular jump in DB share price in New York morning suggests correction from last week's high at 1.1279 (Mon) has ended and consolidation with upside bias is in store. Above said res would encourage for subsequent gain to 1.1300/10.

On the downside, only below 1.1182 would dampen current bullish scenario on euro and yield further sideways swings but reckon 1.1153 should remain intact.

 

[AceTRaderForex]

AceTraderFx Oct 3: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 03 Oct 2016 09:14 GMT

USD/JPY - 101.41
Although dollar's cross-inspired rebound from 100.75 (Friday) to 101.65 today suggests correction from 101.84 top has ended and consolidation is expected before near term rise from last Tuesday's 1-month trough at 100.09 to retrace recent decline heads to 102.20 later, however, 'loss of momentum' should prevent strong gain and reckon res at 102.78 should remain intact.

Expect 100.75 sup to hold for this move and only below this level dampens bullishness on dollar, risks 100.45/50 before prospect of another rebound later this week.

 

[AceTRaderForex]

AceTraderFx Oct 4: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 04 Oct 2016 01:02 GMT

EUR/USD - 1.1204
Despite euro's sterling-led retreat in New York session yesterday, as early rally from last Friday's 1.1153 trough to as high as 1.1251 suggests correction from last week's high at 1.1279 (Monday) has ended there, outlook remains supportive for gain to 1.1260/65 after consolidation.
However, 1.1279 would hold on 1st testing due to loss of near term upwards momentum.

On the downside, only below 1.1182 would dampen present bullish scenario on euro and risk marginal weakness, however, 1.1153 low should remain intact and yield another rebound later this week.

 

[AceTRaderForex]

AceTraderFx Oct 5: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 05 Oct 2016 02:00 GMT

EUR/USD - 1.1210
Despite euro's sterling-led weakness to 1.1138 in New York, intra-day 'jump' to as high as 1.1239 on media report of ECB is considering a tapering down of its QE programme suggests price would remain confined inside recent broad range of 1.1327-1.1121 and as long as 1.1172/77 holds, consolidation with mild upside bias remains for marginal gain to 1.1250/51.
However, reckon last week's high at 1.1279 would cap present euro's upmove.

On the downside, below 1.1151/53 would shift risk to downside for re-test of 1.1138 and then 1.1121.

 

[AceTRaderForex]

AceTraderFx Oct 6: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 06 Oct 2016 01:36 GMT

EUR/USD - 1.1204
Despite yesterday's retreat from 1.1233 (Europe) to 1.1190 in New York after upbeat U.S. ISM services data, as euro's early rally from 1.1138 to as high as 1.1239 on Tuesday suggests recent decline from 1.1279 has made a low there, consolidation with mild upside bias remains ahead of Friday's key U.S. jobs data.
As long as 1.1153/58 holds, gain towards 1.1250 is still envisaged.

A daily close below 1.1153 would shift risk to the downside for weakness towards September's bottom at 1.1121.

 

[AceTRaderForex]

AceTraderFx Oct 6: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 06 Oct 2016 09:09 GMT

USD/JPY - 103.66
Dollar's rally to 103.66 yesterday and intra-day break of this level confirms recent decline from 104.32 (September high) has indeed ended earlier at 100.09 last week and consolidation with upside bias remains for further headway towards next chart obj. at 103.81.
However, overbought condition would prevent strong gain and reckon 104.32 would hold on 1st testing.

On the downside, only below 101.84 signals top is in place and may risk stronger pullback to 101.45/502 but 101.16 should contain weakness.

 

[AceTRaderForex]

AceTraderFx Oct 7: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 07 Oct 2016 05:24 GMT

EUR/USD - 1.1130
Yesterday's weakness to 1.1141 after robust U.S. jobless claims and intra-day sterling-led marginal break of September's low at 1.1121 to 1.1118 in Asia suggests recent erratic decline from 1.1366 (August) to retrace euro's medium-term upmove from 1.0912 (June) has finally resumed and price is en route to 1.1085 (61.8% r), then towards next chart obj. at 1.1046 (especially if key U.S. payrolls released later today turns out to be stronger than market forecast).

On the upside, only above 1.1190 (Wednesday's low, now res) would be the first signal a temporary low is in place and may risk stronger gain to 1.1220/30.

 

[AceTRaderForex]

AceTraderFx Oct 11: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 11 Oct 2016 02:02 GMT

EUR/USD - 1.1133
Despite Friday's rally from European 7-week trough of 1.1104 to 1.1205 in New York morning following soft U.S. data, yesterday's stronger-than-expected retreat to 1.1131 suggests aforesaid correction has possibly ended there and consolidation with downside bias remains, below 1.1104 needed to extend Medium Term fall towards 1.1085 later.

On the upside, above 1.1185 would be the 1st first signal pullback is over and revives previous upside bias for re-test of 1.1205.