AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 02 Mar 201608:47 GMT

USD/JPY - 114.21
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.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 03 Mar 2016 04:01GMT

EUR/USD - 1.0872
Despite euro's anticipated resumption of recent decline from Feb's 1.1377 peak to a 1-month trough of 1.0826 in New York morning after upbeat U.S. private ADP employment report, subsequent rebound to 1.0874 (Australia) suggests temporary low has been made and consolidation with mild upside bias remains, above 1.0912 (previous sup, now res) is needed to bring stronger retracement to 1.3950/60.

On the downside, below 1.0826 would yield marginal weakness towards 1.0800/10, however, loss of downward momentum should keep price well above daily sup at 1.0776 and bring a much-needed correction later today or tomorrow.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 03 Mar 201608:31 GMT

USD/JPY - 113.94
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 marginal gain from here 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.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 04 Mar 2016 04:23 GMT

EUR/USD - 1.0941
Yesterday's rally above 1.0912 to as high as 1.0973 in New York session due to broad-based long liquidation in the USD confirms recent decline from February's 3-1/2 month peak at 1.1377 has indeed formed a low at 1.0826 on Wednesday and consolidation with upside bias remains for further gain to 1.1030/35.

However, near term o/bot condition should cap euro below 1.1060/68 res today.
On the downside, only firm break of 1.0912 would suggest 1st leg of correction is over and risk stronger retracement towards 1.0853/58 but 1.0826 should remain intact.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 07 Mar 2016 03:00 GMT

EUR/USD - 1.0993
Although euro's retreat after Friday's rally from 1.0904 to as high as 1.1044 in post-U.S. jobs data New York morning session suggests upmove from last Wednesday's 1-month bottom at 1.0826 has made a temporary top and expect initial consolidation before extending aforesaid rise to 1.1060/68, loss of momentum should cap price below 1.1100/05.

Expect 1.0960/70 to hold and yield such move and only below 1.0904 would signal said correction from 1.0826 over, risk weakness to 1.0848/81 next.

 

[AceTRaderForex]

AceTraderFx Mar 7: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 07 Mar 2016 09:05 GMT

USD/JPY - 113.62
Despite the greenback's rally to 114.56 last Tuesday, subsequent sharp retreat to 113.12 last Friday on poor U.S. wage growth data suggests further choppy trading below February's high at 114.88 would continue with mild downside bias and marginal weakness towards 112.80/90 is likely to be seen.
However, as broad-outlook remains consolidative, reckon price would hold well above support at 112.38 and yield rebound.

On the upside, only above 114.56 would revive bullishness for a re-test of 114.88, break would confirm erratic upmove from 110.99 has once again resumed and extend towards 115.30/40.

 

[AceTRaderForex]

AceTraderFx Mar 8: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 08 Mar 2016 04:15 GMT

EUR/USD - 1.1017
Despite yesterday's retreat to 1.0940 in Europe, euro's subsequent strong rebound to 1.1026 in New York session due to broad-based usd's weakness following rally in oil and metals' prices suggests pullback from last Friday's 1.1044 high has ended and near term upmove from last Wednesday's 1-month trough at 1.0826 would head to 1.1060/68 target after consolidation, loss of momentum should cap price at 1.1100/05 today.

On the downside, expect 1.0970/80 to hold from such rise and only below 1.0940 signals 1st leg of correction from 1.0826 has ended, risks stronger retacement towards 1.0904.

 

[AceTRaderForex]

AceTraderFx Mar 9: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 09 Mar 2016 04:20 GMT

EUR/USD - 1.0993
Despite yesterday's anticipated resumption of upmove from last Wed's 1-month bottom at 1.0826 to 1.1058 in New York morning on broad-based retreat in global equities, subsequent strong retreat to 1.0993 signals aforesaid rise has indeed formed a temporary top there and choppy trading with near term downside bias is seen ahead of Thursday's ECB monetary policy meeting, however, reckon sup at 1.0940 would contain weakness and bring rebound later today or tomorrow.

Only above 1.1058/68 res area is needed to revive bullish prospect of further subsequent headway to 1.1100/05 whilst below 1.0940 may risk stronger retracement twd 1.0904.

 

[AceTRaderForex]

AceTraderFx Mar 10: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 10 Mar 2016 05:03 GMT

EUR/USD - 1.0985
Despite yesterday's strong rebound from 1.0946 to 1.1035 in New York session, subsequent retreat suggests choppy price swings below Tuesday's 1.1058 peak would continue ahead of ECB's monetary policy meeting later today.

As long as sup at 1.0940/46 sup holds, outlook remains mildly bullish for euro's early upmove from last Wednesday's 1-month bottom at 1.0826 to head toward 1.1000/05 later.
On the downside, a daily close below 1.0904 (last Friday's low) would indicate aforesaid correction has ended, then risk would shift to the downside for a re-test of 1.0826 later next week.

 

[AceTRaderForex]

AceTraderFx Mar 10: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 10 Mar 2016 09:08GMT

USD/JPY - 113.60
Despite the greenback's rally to 114.56 last Tuesday, subsequent sharp retreat to 113.12 last Friday on poor U.S. wage growth data suggests further choppy trading below February's high at 114.88 would continue with mild downside bias and marginal weakness towards 112.80/90 is likely to be seen.
However, as broad-outlook remains consolidative, reckon price would hold well above support at 112.38 and yield rebound.

On the upside, only above 114.56 would revive bullishness for a re-test of 114.88, break would confirm erratic upmove from 110.99 has once again resumed and extend towards 115.30/40.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 11 Mar 2016 03:30 GMT

EUR/USD - 1.1200
Despite euro's intra-day selloff from 1.0990 to a fresh 1-month low of 1.0822 after anticipated ECB's rate cut and more easing measures, subsequent short-covering rebound and then a sharp rally to as high as 1.1218 following ECB President Draghi's 'no further rate cuts' comments confirms correction from February's 3-1/2 month peak at 1.1377 has ended there and outlook remains supportive for re-test of said res level later this month.

Today, expect 1.1116 would contain pullback and yield further headway to 1.1250 after consolidation but 1.1290/00 should cap upside.
On the downside, only below 1.1116 signals temporary top has been made and yield 1-2 days of consolidation before prospect of further rise.

 

[AceTRaderForex]

AceTraderFx Mar 11: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 11 Mar 2016 09:04 GMT

USD/JPY - 113.74
Despite the greenback's rally to 114.56 last Tuesday, subsequent sharp retreat to 113.12 last Friday on poor U.S. wage growth data suggests further choppy trading below February's high at 114.88 would continue with mild downside bias and marginal weakness towards 112.80/90 is likely to be seen.
However, as broad-outlook remains consolidative, reckon price would hold well above support at 112.38 and yield rebound.

On the upside, only above 114.56 would revive bullishness for a re-test of 114.88, break would confirm erratic upmove from 110.99 has once again resumed and extend towards 115.30/40.

 

[AceTRaderForex]

AceTraderFx Mar 14: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 14 Mar 2016 05:39 GMT

EUR/USD - 1.1155
Despite euro's strong retreat to 1.1081 on Friday, subsequent rebound to 1.1193 in New York session signals pullback from last week's 1.1218 (Thursday) has ended there and outlook remains mildly bullish for near term upmove from Thursdays fresh 1-mnth bottom at 1.0821 to resume after consolidation and yield marginal gain to 1.1250, 'loss of momentum' should cap price below 1.1300 and risk has increased for a correction to take place later.

Only below 1.1081 would risk stronger retracement towardsd 1.0858 (previous res, now sup) before prospect of a strong rebound.

 

[AceTRaderForex]

AceTraderFx Mar 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 15 Mar 2016 05:02 GMT

EUR/USD - 1.1106
Despite yesterday's decline from 1.1176 (New Zealand) to 1.1099 in Europe in reaction to setback by Germany's ruling CDU party in Sunday's regional election, then a brief breach of 1.1081 sup to 1.1077 (interbank low) in New York, subsequent rebound suggests consolidation with upside bias is in store, above 1.1176 would signal pullback from last week's high at 1.1218 (Thursday) has ended and yield gain towards 1.1250 later this week.

On the downside, only below 1.1058 (previous res, now sup) would risk stronger correction of upmove from last Thursday's post-ECB rate cut 1-month bottom towards 1.1019 (50% r) before prospect of a rebound.

 

[AceTRaderForex]

AceTraderFx Mar 16: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 15 Mar 2016 03:07 GMT

EUR/USD - 1.1105
Despite yesterday's 'sterling-led' marginal weakness below Mon's 1.1077 low to 1.1072 in Europe, subsequent rebound to 1.1125 in New York following weak U.S. retail sales data suggests consolidation is in store initially and mild upside bias remains , a firm break above overead res area at 1.1125/35 would signal pullback from last Thursday's 1.1218 peak has ended, then outlook would improve for further subsequent headway towards 1.1193.

On the downside, below 1.1072 would risk stronger retracement of euro's early spectacular rally from last Thursday's 1-month trough at 1.0821 towards 1.1058 (previous res, now sup), loss of momentum should keep price well above 1.1019 (50% r from 1.0821) and bring another rise later this week.

 

[AceTRaderForex]

AceTraderFx Mar 16: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 16 Mar 2016 8:24 GMT

USD/JPY - 113.68
Despite yesterday's brief rise to 114.15 in Asian morning after Bank of Japan's rate decision, subsequent sharp retreat suggests further choppy trading inside recent broad range of 114.56-112.23 would continue with downside bias and weakness towards 112.61 would be seen, however, indicated lower level would remain intact and yield rebound later today.

On the upside, only above 114.15 would revive bullishness for a re-test of March's peak at 114.56, break would extend towards 114.88 before retreat.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 17 Mar 2016 04:00 GMT

EUR/USD - 1.1213
Euro's anticipated rebound from 1.1058 to a 1-month peak of 1.1242 in post-FOMC New York session Wednesday after dovish Fed statement has justified our recent bullish stance and expect minor consolidation to take place in Asia before upmove from last week's 1.0821 low (Thursday) resumes towards 1.1290/00, near term overbought condition should cap price below minor daily res at 1.1335.
On the downside, only a daily close below 1.1193 (previous res, now sup) signals temporary top is made and risks stronger retracement towards 1.1150. However, reckon 1.1125 should remain intact.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 18 Mar 2016 04:21 GMT

EUR/USD - 1.1322
Yesterday's continuation of Wed's spectacular rally to 1.1343 in Europe suggests price is en route to re-test February's 3-1/2 month peak at 1.1377 after consolidation, above would extend marginal gain, however, near term loss of upward momentum is likely to prevent strong gain today and reckon 1.1400/10 would cap upside.

Expect 1.1278 (New York low) to hold and yield further rise and only below would signal a temporary top is in place, risk stronger retracement towards 1.1206 before prospect of another rise next week.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 21 Mar 2016 02:00 GMT

EUR/USD - 1.1280
Euro's intra-day strong retreat from 1.1337 to 1.1256 last Fri suggests recent upmove has made a temporary high at Thursday's 1-month peak at 1.1343 and consolidation with near term downside bias remains for a marginal weakness, reckon sup at 1.1206 would contain downside and bring rebound, however, a daily close above 1.1307 is needed to signal pullback is over and yield gain towards February 's 3-1/2 month high at 1.1377.

On the downside, only a daily close below indicated sup at 1.1206 would bring stronger correction to 1.1145/50 before prospect of a rebound later this week.

 

[AceTRaderForex]

AceTraderFx Mar 21: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 21 Mar 2016 09:09 GMT

USD/JPY - 111.40
The greenback's selloff last week and subsequent breach of February's trough at 110.99 to 110.67 last Thursday signals erratic medium-term decline has once again resumed and consolidation with downside bias remains for weakness towards 110.40/43, however, near term loss of momentum would prevent steep fall below there and shift risk to the upside for a stronger correction.
On the upside, only above 112.63 would indicate a temporary low has been made and turn outlook bullish for a much-needed correction towards 112.96/00.