AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

AceTraderFx Nov 25: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 25 Nov 2016 09:26 GMT

USD/JPY - 112.80
Despite the greenback's intra-day resumption of erratic medium-term uptrend to a fresh 8-month peak at 113.90, subsequent retreat suggests a temporary top has been made and a much-awaited correction has occured, downside bias remains for retracement towards 112.35, however, as broad-outlook remains consolidative, reckon 111.91 would remain intact and yield recovery.

On the upside, only above 113.90 would revive bullishness and extend said move marginally before prospect of retreat due to over bought condition.

 

[AceTRaderForex]

AceTraderFx Nov 28: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 28 Nov 2016 01:35 GMT

EUR/USD - 1.0617
Euro's anticipated rally above 1.0586 res to 1.0628 in New York last Friday confirms recent downtrend has indeed made a temporary low at Thursday's 20-month trough at 1.0518 and consolidation with upside bias remains for marginal gain, however, reckon res at 1.0658 would cap intra-day gain and yield subsequent retreat.

On the downside, below 1.0583 would b the 1st signal 1st leg of correction is over and bring stronger pullback but 1.0535/40 should remain intact and yield further choppy sideways trading today.

 

[AceTRaderForex]

AceTraderFx Nov 29: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 29 Nov 2016 01:28 GMT

EUR/USD - 1.0605
Although yesterday's initial rally above last week's high at 1.0658 to 1.0686 on short-covering in euro confirms recent downtrend has made a temporary bottom at last Thursday's 20-month trough at 1.0518, subsequent sharp retreat to as low as 1.0564 in New York and then intra-day bounce to 1.0622 ahead of Asian open today suggests choppy price swings would be seen.

As long as 1.0658 holds, consolidation with mild downside bias remains, below 1.0564 would extend marginal weakness but 1.0518 should remain intact. Above 1.0686 would risk stronger correction to 1.0705/09 but res at 1.0746 should cap upside.

 

[AceTRaderForex]

AceTraderFx Nov 29: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 29 Nov 2016 09:49 GMT

USD/JPY - 112.46
Despite the greenback's rally last week to a fresh 8-month 113.90 on Friday, subsequent selloff to as low as 111.36 today suggests a temporary top has been made and consolidation with downside bias would be seen for stronger retracement towards 110.89/90, however, near term loss of momentum would prevent steep fall beyond there and risk would increase for a rebound later this week.

On the upside, only above 112.98 would indicate the first leg of correction has ended and turn outlook bullish for gain towards 113.31, then to 113.53.

 

[AceTRaderForex]

AceTraderFx Nov 30: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 30 Nov 2016 01:14 GMT

EUR/USD - 1.0646
Although euro's strong retreat from 1.0686 to as low as 1.0564 on Monday suggests 1st leg of correction from last Thursday's 20-month trough at 1.0518 has ended, yesterday's intra-day rally from 1.0565 (New York) to 1.0660 in Asia today suggests consolidation with upside bias remains, above said res would bring stronger correction of recent downtrend to 1.0705/09.
However, near term overbought condition would cap price below daily res at 1.0646.

On the downside, below 1.0564/65 sup any time signals correction is over, then risk would shift to the downside for a re-test of 1.0518 later this week.

 

[AceTRaderForex]

AceTraderFx Nov 30: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 30 Nov 2016 09:15 GMT

USD/JPY - 112.80
Despite the greenback's rally last week to a fresh 8-month 113.90 on Friday, subsequent selloff to as low as 111.36 today suggests a temporary top has been made and consolidation with downside bias would be seen for stronger retracement towards 110.89/90, however, near term loss of momentum would prevent steep fall beyond there and risk would increase for a rebound later this week.

On the upside, only above 112.98 would indicate the first leg of correction has ended and turn outlook bullish for gain towards 113.31, then to 113.53.

 

[AceTRaderForex]

AceTraderFx Dec 1: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 01 Dec 2016 03:43 GMT

EUR/USD - 1.0593
Despite euro's sideways move following yesterday's intra-day selloff from 1.0667 and then a brief breach of Monday's low at 1.0564 to 1.0553 after robust U.S. economic data, as this move signals correction from last Friday's 20-month bottom at 1.0518 has ended earlier at 1.0686 (Monday), consolidation with downside bias remains.
However, below 1.0518 is needed to extend weakness towards psychological target at 1.0500 (option barrier).

On the upside, only above 1.0667 aborts daily bearish outlook on euro and may risk re-test of 1.0686.

 

[AceTRaderForex]

AceTraderFx Dec 2: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 02 Dec 2016 05:44 GMT

EUR/USD - 1.0673
Euro's intra-day rally from 1.0585 in New York session on Thursday following Reuters report of ECB's tapering and then break of European high at 1.0640 to 1.0677 today suggests re-test of this week's high at 1.0686 would be forthcoming next, break would extend upmove from November's 20-month bottom at 1.0518 towards res at 1.0746 which should hold ahead of release of key U.S. payrolls report.

A firm break of 1.0600/05 would signal top is made and shift risk to downside for subsequent weakness towards 1.0553 (Wednesday).

 

[AceTRaderForex]

AceTraderFx Dec 2: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 02 Dec 2016 09:13 GMT

USD/JPY - 113.91
Despite the greenback's resumption of recent winning streak to a fresh 9-month peak at 114.83 in Australia yesterday, subsequent strong retreat to 113.58 today suggests a minor top has been made and mild downside bias would be seen for retracement towards 113.50/60.
However, 113.34 (previous resistance, now support) should remain intact and yield another rise towards said high later today or early tomorrow.

On the downside, only below 113.34 would abort daily bullishness and yield stronger correction of medium-term upmove towards 112.96, then 112.50/60.

 

[AceTRaderForex]

AceTraderFx Dec 5: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 05 Dec 2016 05:08 GMT

EUR/USD - 1.0560
Despite euro's intra-day selloff at New Zealand open and then a brief break of November's low of 1.0518 to a fresh 20-month bottom of 1.0506 following news of election defeat by Italy's PM Mateo Renzi, subsequent brief but strong bounce to 1.0594 suggests temporary low is in place and choppy sideways swings are expected until European open.

Below 1.0500 (psychological sup and option barrier) is needed to extend Medium term downtrend towards 2015 trough at 1.0457 whilst above 1.0625 (Friday's low, now res) may risk toner correction to 1.0680/90 later.

 

[AceTRaderForex]

AceTraderFx Dec 5: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 05 Dec 2016 09:03 GMT

USD/JPY - 114.11
Despite the greenback's resumption of recent winning streak to a fresh 9-month peak at 114.83 last Thursday, subsequent sharp selloff to 112.88 today on risk aversion suggests a minor top has been made and mild downside bias would be seen for retracement towards 112.50/60.
However, support at 112.06 should remain intact and yield another rise towards said high later today or early tomorrow.

On the upside, only above 14.21 would indicate the first leg of correction has ended instead and turn outlook bullish for gain towards 114.54, then 114.83 again.

 

[AceTRaderForex]

AceTraderFx Dec 6: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 06 Dec 2016 02:02 GMT

EUR/USD - 1.0761
Despite yesterday's initial selloff ahead of Asian open to a fresh 20-month bottom of 1.0505, subsequent intra-day rally to 1.0730 in European morning, then later to session highs of 1.0796 in New York confirms medium-term downtrend has made a temporary low there and consolidation with upside bias remains for marginal gain, near term loss of momentum should cap price below 1.0851 (Oct's low, now res).

On the downside, expect 1.0715/20 to contain pullback and yield marginal rise, only below 1.0680/90 signals 1st leg of correction is over and yields stronger retracement to 1.0625/30 before prospect of another rise later this week

 

[AceTRaderForex]

AceTraderFx Dec 6: Daily Recommendations on Major

DAILY MARKET OUTLOOK
Update Time: 06 Dec 2016 09:08 GMT

USD/JPY - 113.83
Despite the greenback's resumption of recent winning streak to a fresh 9-month peak at 114.83 last Thursday, subsequent sharp selloff to 112.88 today on risk aversion suggests a minor top has been made and mild downside bias would be seen for retracement towards 112.50/60.
However, support at 112.06 should remain intact and yield another rise towards said high later today or early tomorrow.

On the upside, only above 14.21 would indicate the first leg of correction has ended instead and turn outlook bullish for gain towards 114.54, then 114.83 again.

 

[AceTRaderForex]

AceTraderFx Dec 7: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 07 Dec 2016 05:01GMT

EUR/USD - 1.0715
Although euro's spectacular rally from Monday's fresh 20-month trough at 1.0505 to as high as 1.0796 confirms medium-term downtrend has formed a temporary low there and this bottom is likely to hold for remaining of this month, yesterday's intra-day retreat from 1.0785 (Europe) to 1.0699 in New York session suggests another day of choppy trading is in store ahead of Thursday's ECB's monetary policy meeting.
As long as 1.0667 (50% r) holds, consolidation with upside bias remains but above 1.0796 needed to extend aforesaid rise towards 1.0851 later this week.

Only a daily close below 1.0667 would risk stronger retracement to 1.0630/35 before prospect of another rise.

 

[AceTRaderForex]

AceTraderFx Dec 7: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 07 Dec 2016 09:08 GMT

USD/JPY - 114.24
Despite the greenback's resumption of recent winning streak to a fresh 9-month peak at 114.83 last Thursday, subsequent sharp selloff to 112.88 on Monday on risk aversion suggests a minor top has been made and mild downside bias would be seen for retracement towards 112.50/60.
However, support at 112.06 should remain intact and yield another rise towards said high later today or early tomorrow.

On the upside, only above 114.54 would indicate the first leg of correction has ended instead and turn outlook bullish for gain towards 114.83 again.

 

[AceTRaderForex]

AceTraderFx Dec 8: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 08 Dec 2016 05:08GMT

EUR/USD - 1.0772
Euro's intra-day brief break of yesterday's 1.0768 (New York) high confirms pullback from 1.07966 has ended at 1.0699 on Tuesday and outlook remains mildly bullish for near term upmove from Monday's fresh 20-month bottom at 1.0505 to head to 1.0820/30, loss of upward momentum is expected to cap price below 1.0851 (October's low) ahead of ECB's monetary policy announcement.

On the downside, only below 1.0699 prolongs choppy consolidation and may risk stronger retracement of aforesaid rise to 1.0650/60 before prospect of another rebound.

 

[AceTRaderForex]

AceTraderFx Dec 9: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 09 Dec 2016 05:10 GMT

EUR/USD - 1.0617
Despite yesterday's anticipated resumption of this week's rise and intra-day brief jump up a 3-week peak of 1.0875 after ECB extended its QE programme but reduced stimulus, subsequent selloff on broad-based euro selling and then break of previous 1.0699 sup to as low as 1.0598 in New York session confirms correction from Monday's 20-month bottom at 1.0505 has ended and consolidation with downside bias remains for re-test of said temporary low next week.

On the upside, only a move back above 1.0699 (now res) would prolong volatile consolidation and may risk stronger retracement of Thur's decline to 1.0735/40.

 

[AceTRaderForex]

AceTraderFx Dec 9: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 09 Dec 2016 09:15 GMT

USD/JPY - 114.48
Despite yesterday's initial fall to 113.14, subsequent rally to 114.37 and intra-day rise above this level suggests the first leg of correction from last Thursday's 9-month peak at 114.83 has ended at 112.88 Monday and consolidation with upside bias remains.
However, above 114.78 (reaction high) is needed to confirm this view and yield resumption of medium-term upmove for a re-test of 114.83 later today or early next week.

On the downside, only below 113.14 would abort daily bullishness and risk weakness towards 112.88, break there would retain bearishness for a stronger retracement towards 112.40/50.

 

[AceTRaderForex]

AceTraderFx Dec 12: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 12 Dec 2016 01:27 GMT

EUR/USD - 1.0548
Although euro's decline from 1.0875 last Thursday to 1.0531 on Friday confirms early correction from week's 20-month bottom at 1.0505 (Monday) has ended there.
Intra-day minor recovery in Asia should bring consolidation with near term upside bias, above 1.0589 would yield stronger retracement towards 1.0630 before prospect of another fall later today or tomorrow.

On the downside, only below 1.0500/05 needed to extend medium-term downtrend towards key sup at 1.0457 (2015 trough) later this week.

 

[AceTRaderForex]

AceTraderFx Dec 13: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 13 Dec 2016 05:00 GMT

EUR/USD - 1.0633
Although yesterday's anticipated rally from 1.0526 (Asia) to as high as 1.0651 in New York suggests further choppy trading above last Mon's fresh 20-month trough at 1.0505 would continue and as long as 1.0585/90 holds, consolidation with upside bias remains for marginal gain, near term loss of momentum should cap euro below 1.0699 (previous sup, now res) and yield subsequent decline.

Below 1.0585/90 any time signals top has been made and brings weakness to 1.0550/55.