AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

AceTraderFx Nov 11: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 11 Nov 2016 08:29 GMT

USD/JPY - 106.68
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]

AceTraderFx Nov 14: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 14 Nov 2016 02:19 GMT

EUR/USD - 1.0795
Euro's intra-day selloff after penetrating last Fri's 1.0831 low to a 10-month bottom of 1.0773 in Asia due to renewed broad-based usd's strength confirms medium-term downtrend has resumed, however, oversold condition should prevent steep fall and reckon key daily sup at 1.0711 (2016 bottom) would remain intact and risk has increased for a much-needed minor correction to occur later today or tomorrow.

On the upside, above 1.0831 would be the 1st signal temporary low has been made and yield stronger retracement to1.0865/70 but recon 1.0919/23 res would cap upside.

 

[AceTRaderForex]

AceTraderFx Nov 14: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 14 Nov 2016 08:35 GMT

USD/JPY - 107.90
The greenback's intra-day rally above last Thursday's 5-month peak at 106.95 on dollar's broad-based strength signals recent erratic uptrend remains in progress and consolidation with upside bias would be seen for marginal gain, however, over bought condition would prevent steep gain and risk would increase for a much-needed correction later today.

On the downside, only below 106.95 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 106.03.

 

[AceTRaderForex]

AceTraderFx Nov 15: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 15 Nov 2016 01:12 GMT

EUR/USD - 1.0766
Although euro's intra-day rebound at Asian open suggests recent downtrend has made a temporary low at Mon's 10-month trough at 1.0709 (NY) and consolidation with near term upside bias is in store, reckon 1.0786/89 would cap present recovery and yield one more fall, loss of downward momentum should keep price above 1.0674 today.

On the upside, above 1.0828/31 (previous sup, now res) anytime would confirm long-awaited correction has taken place and risk stronger gain to 1.0865/75 later.

 

[AceTRaderForex]

AceTraderFx Nov 15: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 15 Nov 2016 08:20 GMT

USD/JPY - 108.11
The greenback's intra-day rally above last Thursday's 5-month peak at 106.95 on dollar's broad-based strength signals recent erratic uptrend remains in progress and consolidation with upside bias would be seen for marginal gain, however, over bought condition would prevent steep gain and risk would increase for a much-needed correction later today.

On the downside, only below 106.95 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 106.03.

 

[AceTRaderForex]

AceTraderFx Nov 16: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 16 Nov 2016 01:46 GMT

EUR/USD - 1.0747
Although yesterday's intra-day selloff from 1.0817 (Europe) to as low as 1.0714 in New York after upbeat U.S. retail sales data confirms correction from Mon's 10-month bottom at 1.0709 has ended, euro's rebound in Asia today suggests further choppy sideways swings would continue before medium-term downtrend extends twd 1.0674 target later today or tomorrow.

Only abv 1.0817 aborts present bearish scenario on euro and risks stronger correction to 1.0855/65 before prospect of a retreat.

 

[AceTRaderForex]

AceTraderFx Nov 16: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 16 Nov 2016 08:25 GMT

USD/JPY - 109.46
Although the greenback's rally to a fresh 5-1/2 month peak at 109.33 yesterday and intra-day break of this level signals erratic medium-term upmove has once again resumed and consolidation with upside bias remains for marginal gain, over bought condition would prevent sharp from here and reckon 110.35 would remain intact and risk would increase for a much-needed correction later this week.

On the downside, only below 108.15 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 107.70/80.

 

[AceTRaderForex]

AceTraderFx Nov 17: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 17 Nov 2016 02:53 GMT

EUR/USD - 1.0698
Euro's rebound from Wed's fresh 10-month trough at 1.0666 in New York suggests consolidation is in store as market awaits Fed Chair Yellen's testimony later today, a firm rise above 1.0730 would be the 1st signal temporary low has been made and bring a long-overdue correction to 1.0760, however, res at 1.0817 should cap subsequent rise.

On the downside, below 1.0666 would risk marginal weakness, however, loss of downward momentum should keep price above minor chart sup at 1.0617 and yield correction.

 

[AceTRaderForex]

AceTraderFx Nov 17: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 17 Nov 2016 08:36 GMT

USD/JPY - 109.02
Although the greenback's rally to a fresh 5-1/2 month peak at 109.33 Tuesday and yesterday's break of this level to 109.76 signals erratic medium-term upmove has once again resumed and consolidation with upside bias remains for marginal gain, over bought condition would prevent sharp from here and reckon 110.35 would remain intact and risk would increase for a much-needed correction later this week.

On the downside, only below 108.15 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 107.70/80.

 

[AceTRaderForex]

AceTraderFx Nov 18: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 18 Nov 2016 05:06 GMT

EUR/USD - 1.0592
Despite euro's intra-day break of overnight New York low of 1.0619 to a fresh 11-1/2 month trough of 1.0582 in Asia today following yesterday's upbeat U.S. data and then hawkish comments by Fed's Chair Yellen, oversold condition is likely to prevent steep fall today and reckon key and pivotal daily chart sup at 1.0523 would remain intact and risk has increased for a much-needed short covering rebound to occur later today.

On the upside, above 1.0666 (previous low, now res) would be the 1st signal a temporary bottom has been made, then stronger retracement towards 1.0746 would follow.

 

[AceTRaderForex]

AceTraderFx Nov 18: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 18 Nov 2016 09:33 GMT

USD/JPY - 110.75
Although the greenback's intra-day rise to a fresh 5-1/2 month peak at 110.93 signals erratic medium-term uptrend remains in progress and consolidation with upside bias would be seen for marginal gain, reckon loss of momentum would prevent strong gain beyond here and risk would increase for a much-needed correction later today or early next week.

On the downside, only below 109.76 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 109.33.

 

[AceTRaderForex]

AceTraderFx Nov 21: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 21 Nov 2016 05:30 GMT

EUR/USD - 1.0605
Despite Friday' resumption of medium-term downtrend to a fresh 11-1/2 month bottom at 1.0570 in New York session due to broad-based usd's strength, subsequent recovery and intra-day gain to 1.0624 (New Zealand) suggests choppy trading above said temporary low is in store in Asia, as long as Friday's high at 1.0643 holds, outlook remains mildly bearish for one more fall.
However, loss of momentum would keep euro above daily sup at 1.0523.

On the upside, a firm break of 1.0643 would signal long-awaited correction of recent decline has taken place, then risk would shift to the upside for stronger retracement to 1.0666, then later to 1.0690/00.

 

[AceTRaderForex]

AceTraderFx Nov 21: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 21 Nov 2016 09:13 GMT

USD/JPY - 110.92
Although the greenback's intra-day rise to a fresh 5-1/2 month peak at 111.19 signals erratic medium-term uptrend remains in progress and consolidation with upside bias would be seen for marginal gain, reckon loss of momentum would prevent strong gain beyond here and risk would increase for a much-needed correction later today or early next week.

On the downside, only below 109.76 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 109.33.

 

[AceTRaderForex]

AceTraderFx Nov 22: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 22 Nov 2016 05:22 GMT

EUR/USD - 1.0646
Despite yesterday's retreat from 1.0649 (Europe) to 1.0590 in New York session, euro's intra-day gain to 1.0650 in Asia suggests recent downtrend has made a temporary low at last Friday's fresh 11-1/2 month trough at 1.0570 and consolidation with upside bias is seen for stronger retracement to 1.0675/80, however, reckon 1.0700/05 would cap present rise and yield subsequent decline.

Below 1.0590 would signal correction is over, then risk is seen for re-test of 1.0570.
However, loss of momentum should keep price above daily sup at 1.0523.

 

[AceTRaderForex]

AceTraderFx Nov 22: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 22 Nov 2016 09:35 GMT

USD/JPY - 110.76
Although the greenback's intra-day rise to a fresh 5-1/2 month peak at 111.36 in New York yesterday signals erratic medium-term uptrend remains in progress and consolidation with upside bias would be seen for marginal gain, reckon loss of momentum would prevent strong gain beyond here and risk would increase for a much-needed correction later today.

On the downside, only below 109.76 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 109.33.

 

[AceTRaderForex]

AceTraderFx Nov 23: Daily Recommendations on Major

DAILY MARKET OUTLOOK
Update Time: 23 Nov 2016 05:40 GMT

EUR/USD - 1.0630
Despite euro's intra-day strong retreat yesterday from 1.0658 (Europe) to 1.0584 in New York, subsequent rebound near Tuesday's close suggests further volatile price swings above last Friday's fresh 11-1/2 month bottom at 1.0750 would continue with mild upside bias for gain to 1.0678/83.
However, reckon 1.0700/05 would cap upside and yield another fall 'later' this week.

Only below 1.0570 would extend marginal weakness, however, loss of downward momentum should keep price well above daily sup at 1.0523 and bring another correction.

 

[AceTRaderForex]

AceTraderFx Nov 23: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 23 Nov 2016 09:23 GMT

USD/JPY - 111.08
Although the greenback's re-test of Monday's fresh 5-1/2 month peak at 111.36 in New York yesterday signals erratic medium-term uptrend remains in progress and consolidation with upside bias would be seen for marginal gain, reckon loss of momentum would prevent strong gain beyond here and risk would increase for a much-needed correction later today.

On the downside, only below 109.76 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 109.33.

 

[AceTRaderForex]

AceTraderFx Nov 24: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 24 Nov 2016 05:19 GMT

EUR/USD - 1.0533
Yesterday's breach of last Fri's 1.0570 low (now res) to a fresh 11-1/2 month trough at 1.0526 suggests medium-term downtrend would resume after consolidation and below Dec 2015 bottom at 1.0523 would pressure euro to psychological sup at 1.0500 (also option barrier), loss of momentum would limit weakness to 1.0480/85 today and major sup at 1.0457 (2015 12-year low) should remain intact this week.

On the upside, only above 1.0600 would signal temporary low has been made and risk would shift to upside for subsequent retracement to 1.0640/50 before prospect of a retreat later.

 

[AceTRaderForex]

AceTraderFx Nov 24: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 24 Nov 2016 09:24 GMT

USD/JPY - 113.35
Although the greenback's intra-day rise to a fresh 7-1/2 month peak at 113.53 in European morning signals erratic medium-term uptrend remains in progress and consolidation with upside bias would be seen for marginal gain, reckon loss of momentum would prevent strong gain beyond here and risk would increase for a much-needed correction later today.

On the downside, only below 109.76 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 109.33.

 

[AceTRaderForex]

AceTraderFx Nov 25: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 25 Nov 2016 05:13 GMT

EUR/USD - 1.0542
Despite yesterday's intra-day brief weakness to a 20-month bottom of 1.0518 in European morning, subsequent short-covering rebound to 1.0586 suggests temporary low has possibly been made and 1-2 days of choppy consolidation is in store with mild upside bias, above 1.0586 would add credence to this view and bring stronger retracement to 1.0630/40 but recon res at 1.0658 would rap euro's corrective rise.

Below 1.0518 would risk test of psychological level at 1.0500 and also option barrier but major sup at 1.0457 (2015 trough) should remain intact.