AceTraderFx : Daily Recommendations on Major

AceTRaderForex

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AceTraderFx Oct 27: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK

Update Time: 27 Oct 2016 05:07 GMT

EUR/USD - 1.0903
Despite euro's retreat from yesterday's 1.0946 (NY high), as early strong rebound from Tuesday's fresh 7-month trough at 1.0851 confirms recent downtrend has finally made a temporary low there, several days of choppy consolidation with upside bias remains and reckon 1.0873 sup would contain weakness, yield further subsequent headway towards 1.0986 but 1.1000/05 would cap upside today.

Only below 1.0873 would dampen near term bullish bias on euro and may risk re-test of 1.0851.
However, loss of downward momentum should limit weakness to 1.0821.
 

AceTRaderForex

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AceTraderFx Oct 27: Daily Recommendations on Major USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 27 Oct 2016 08:46 GMT


USD/JPY - 104.67
Despite dollar's rally to a fresh near 3-month peak at 104.87 Tuesday, subsequent selloff to 104.12 in New York, then 104.02 yesterday suggests erratic decline from August's trough at 99.54 has made a temporary top there and consolidation with downside bias would be seen for a stronger retracement towards 103.72, however, price would hold above 113.52 and yield rebound.

On the upside, only above 104.87 would revive bullishness for one more rise towards 105.00/10, however, loss of momentum would prevent strong gain above there and yield correction.
 

AceTRaderForex

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AceTraderFx Oct 28: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 28 Oct 2016 05:02 GMT


EUR/USD - 1.0905

Although yesterday's intra-day strong retreat from 1.0942 to 1.0883 in New York session confirms euro's 1st leg of correction from Tuesday's 7-month trough at 1.0851 has ended at 1.0946 (Wed) and choppy consolidation is in store ahead of release of key U.S. GDP data later today, as long as sup at 1.0873 holds, upside bias remains for another bounce to 1.0942/46, break would bring stronger retracement towards 1.0986.

A firm break of 1.0873 would suggest said correction is over and yield resumption of medium-tern downtrend to 1.0850/51, then later towards next chart objective at 1.0821.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Oct 31: Daily Recommendations on Major EUR/USD


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DAILY MARKET OUTLOOK

Update Time: 31 Oct 2016 01:20 GMT

EUR/USD - 1.0970
Euro's impressive rally above previous res at 1.0946 (now sup) to 1.0992 in New York last Friday despite upbeat U.S. GDP data confirms medium-term downtrend has indeed formed a low earlier last week at 1.0851 and consolidation with upside bias remains for gain towards daily chart obj. at 1.1040.
However, a daily close above this res level is needed to retain bullish prospect for further subsequent gain.

On the downside, below 1.0946 would signal 1st leg of correction is over and may risk weakness towards 1.0902/05 but 1.0883 should remain intact.
 

AceTRaderForex

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Mar 19, 2013
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AceTraderFx Oct 31: Daily Recommendations on Major USD/JPY


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DAILY MARKET OUTLOOK
Update Time: 31 Oct 2016 09:43 GMT


USD/JPY - 104.95
The greenback's rise above Tuesday's high at 104.87 to a fresh 3-month high at 105.53 Friday suggests recent erratic upmove from August's trough at 99.54 has once again resumed and consolidation with upside bias would be seen for gain towards 105.70/80, however, near term loss of momentum would keep price below 106.00 today and yield a much-needed correction later.

On the downside, only below 104.30 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 104.02 later next week.
 

AceTRaderForex

Master Trader
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AceTraderFx Nov 1: Daily Recommendations on Major EUR/USD


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DAILY MARKET OUTLOOK
Update Time: 01 Nov 2016 05:00 GMT


EUR/USD - 1.0967
Despite yesterday's intra-day strong retreat from 1.0992 (New Zealand) to 1.0936 in New York morning, subsequent rebound to 1.0988 to Australia today suggests pullback from last Friday's 1.0992 high has ended there and near term upmove from last Tuesday's 7-month trough at 1.0851 would resume to 1.1025 after consolidation.
However, loss of upward momentum should cap price below previous res area at 1.1040/60 and yield decline.

On the downside, only below 1.0936 would risk stronger retracement of said upmove to 1.0899/02 before prospect of another rebound.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Nov 1: Daily Recommendations on Major USD/JPY


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DAILY MARKET OUTLOOK
Update Time: 01 Nov 2016 09:31 GMT

USD/JPY - 105.10
The greenback's rise above Tuesday's high at 104.87 to a fresh 3-month high at 105.53 Friday suggests recent erratic upmove from August's trough at 99.54 has once again resumed and consolidation with upside bias would be seen for gain towards 105.70/80.
However, near term loss of momentum would keep price below 106.00 today and yield a much-needed correction later.

On the downside, only below 104.30 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 104.02 later next week.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Nov 2: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 02 Nov 2016 05:05 GMT


EUR/USD - 1.1055
Yesterday's impressive rally above last week's 1.0992 high (now sup) to a 2-week peak of 1.1069 in New York due to broad-based usd's weakness confirms medium-term downtrend has made a low at last Tuesday's 7-month bottom at 1.0851 and consolidation with upside bias remains for further headway to 1.1100/04, overbought condition should cap euro below 1.1121 and bring subsequent retreat.

A daily close below 1.0992 would confirm 1st leg of correction has ended, then risk would shift to the downside for weakness to 1.1060, then towards 1.0936.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Nov 2: Daily Recommendations on Major USD/JPY


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DAILY MARKET OUTLOOK
Update Time: 02 Nov 2016 09:30 GMT


USD/JPY - 103.54
The greenback's selloff from last Friday's 3-month peak at 105.53 to 103.81 yesterday and intra-day break of this level signals recent erratic uptrend has formed a temporary top there and consolidation with downside bias would be seen for a stronger retracement towards 103.17/20.
However, over sold condition would prevent steep fall below there and risk would increase for a much-needed correction later.

On the upside, only above 104.87 would indicate aforesaid pullback has ended and turn outlook bullish for gain to 105.23 but abovementioned top would hold on first testing and yield retreat.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Nov 4: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK

Update Time: 04 Nov 2016 02:01 GMT

EUR/USD - 1.1100
Despite yesterday's retreat from Asian 3-week high of 1.1126 to as low as 1.1060 in New York morning due to intra-day active selling in eyr/gbp cross following U.K. High Court's Brexit ruling, subsequent rebound suggests pullback is over and upmove from last Tuesday's 7-month trough at 1.0851 to correct euro's medium-term downtrend would head to 1.1160/70 after consolidation, loss of upward momentum should cap price at 1.1200/05.

On the downside, only a daily close below 1.1050/60 sup confirms temporary top is in place and may risk stronger retracement to 1.0992.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Nov 4: Daily Recommendations on Major USD/JPY


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DAILY MARKET OUTLOOK

Update Time: 04 Nov 2016 09:21 GMT

USD/JPY - 103.05
The greenback's selloff from last Friday's 3-month peak at 105.53 to 103.03 Wednesday, then to 102.55 yesterday signals recent erratic uptrend has formed a temporary top there and consolidation with downside bias would be seen for a stronger retracement towards 102.20/30.
However, over sold condition would prevent steep fall below there and risk would increase for a much-needed correction later.

On the upside, only above 104.87 would indicate aforesaid pullback has ended and turn outlook bullish for gain to 105.23 but above mentioned top would hold on first testing and yield retreat.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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74
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AceTraderFx Nov 7: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK

Update Time: 07 Nov 2016 02:25 GMT

EUR/USD - 1.1085
Although initial strong retreat to 1.1045 at Monday open in New Zealand following Friday's resumption of recent upmove to a fresh 3-week peak of 1.1143 in post-NFP New York session suggests temporary low has been made, as long as said intra-day low holds, choppy consolidation with upside bias remains, above 1.1126/30 would encourage for marginal gain above 1.1143.
However, loss of upward momentum should cap euro below res at 1.1205.

Below 1.1045 anytime would confirm early rise from October's 1.0851 bottom has made a top, then risk would shift to the downside for stronger retracement twowards 1.0992 (previous res, now sup).
 

AceTRaderForex

Master Trader
Mar 19, 2013
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74
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AceTraderFx Nov 7: Daily Recommendations on Major USD/JPY


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DAILY MARKET OUTLOOK

Update Time: 07 Nov 2016 09:26 GMT

USD/JPY - 104.49
Despite the greenback's selloff from October's 3-month peak at 105.53 to 103.03 last Wednesday, then to 102.55 last Thursday, intra-day stronger-than-expected rebound on news that FBI cleared Clinton's charges suggests aforesaid correction has ended and consolidation with upside bias would be seen for gain towards 105.10/20.
However, above mentioned peak should remain intact on first testing and yield retreat.

On the downside, only below 103.36 (previous resistance, now support) would indicate the recovery has ended and turn outlook bearish for weakness towards 102.83.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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74
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AceTraderFx Nov 8: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK

Update Time: 08 Nov 2016 02:08 GMT

EUR/USD - 1.1042
Although yesterday's initial selloff to 1.1045 in New Zealand confirms euro's recent strong upmove from October's 7-month trough at 1.0851 has made a temporary top last Friday at 1.1143, as 1.1028 in New York afternoon session has contained weakness, consolidation with mild upside bias is in store.
Above 1.1075/80 would add credence to this view and bring stronger gain towards 1.1110 but reckon 1.1143 top would remain intact ahead of outcome of U.S. presidential election.

On the downside, only a daily close below 1.1028 would shift risk to downside for stronger retracement of aforesaid rise and risks weakness to 1.0992 but reckon minor sup at 1.0936 would hold from here.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Nov 8: Daily Recommendations on Major USD/JPY

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DAILY MARKET OUTLOOK

Update Time: 08 Nov 2016 09:24 GMT

USD/JPY - 104.44
Despite the greenback's selloff from October's 3-month peak at 105.53 to 103.03 last Wednesday, then to 102.55 last Thursday, intra-day stronger-than-expected rebound on news that FBI cleared Clinton's charges suggests aforesaid correction has ended and consolidation with upside bias would be seen for gain towards 105.10/20.
However, above mentioned peak should remain intact on first testing and yield retreat.

On the downside, only below 103.36 (previous resistance, now support) would indicate the recovery has ended and turn outlook bearish for weakness towards 102.83.
 

AceTRaderForex

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

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DAILY MARKET OUTLOOK

Update Time: 09 Nov 2016 01:42 GMT

EUR/USD - 1.1027
Expect 'volatile' price swings due to U.S. presidential election uncertainty, however, intra-day brief drop to 1.0990 in Asia suggests recent upmove from October's 7-month bottom at 1.0851 has made a top last Friday at 1.1143, as long as 1.1067/74 res area holds, consolidation with downside bias remains for subsequent weakness towards 1.0963 (61.8% r of said rise).
However, near term loss of downward momentum should keep euro above chart sup at 1.0936.

On the upside, a firm rise above 1.1074 would be the 1st signal aforesaid correction from 1.1143 has ended, then stronger gain to 1.1100/10 may follow.
 

AceTRaderForex

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

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DAILY MARKET OUTLOOK
Update Time: 09 Nov 2016 09:07 GMT


USD/JPY - 103.51
Despite the greenback's selloff to as low as 101.19 in Asia after initial polls showed Trump leading, subsequent strong rebound on short-covering after Trump's victory suggests recent erratic decline from October's peak at 105.53 has made a temporary low there and choppy trading with upside bias would be seen, however, resistance at 104.63 should remain intact and yield another retreat later today.

On the downside, only below 102.55 (previous resistance) would indicate aforesaid recovery is over and turn outlook bearish for weakness towards 102.16/20.
 

AceTRaderForex

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


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DAILY MARKET OUTLOOK
Update Time: 10 Nov 2016 05:28 GMT


EUR/USD - 1.0921
As yesterday's 'roller-coaster' ride in euro ended with the single currency falling from an 8-week peak of 1.1300 (Asia) to as low as 1.0907 near New York close, suggesting early correction from October's 7-month bottom at 1.0851 has indeed ended and consolidation with downside bis remains for subsequent weakness towards said key daily sup.

On the upside, expect 1.0990 (Wednesday's Asian low, now res) to hold for this move and only a daily close above this level would 'prolong' volatile consolidation an may risk stronger retracement to 101060/70 before prospect of another fall.
 

AceTRaderForex

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

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DAILY MARKET OUTLOOK
Update Time: 10 Nov 2016 08:22 GMT


USD/JPY - 105.68
Despite the greenback's selloff from 105.47 to as low 101.19 yesterday, subsequent rally to 105.89, then to a fresh 3-month peak at 105.95 in Asia suggests recent erratic uptrend has once again resumed and consolidation with upside bias would be seen for gain towards 106.10/20, however, loss of momentum would keep price below 106.50 and yield a much-needed correction later.

On the downside, only below 104.30 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 103.78/80.
 

AceTRaderForex

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


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DAILY MARKET OUTLOOK

Update Time: 11 Nov 2016 00:32 GMT


EUR/USD - 1.0885
Yesterday's resumption of decline from Wed's 8-week peak at 1.1300 to 1.0865 in New York suggests re-test of key sup at 1.0851 (Oct's 7-month bottom) is on the cards after initial consolidation, break there would extend medium-term downtrend twd next daily downside chart objective at 1.0821.

On the upside, expect 1.0950/54 to hold for this move n only a daily close above there confirms temporary low is ion place and may risk stronger correction to 1.0980/90 before prospect of another fall next week.