AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

AceTraderFx Jan 03: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK EUR/USD
Update Time: 03 Jan 2017 01:50 GMT

EUR/USD - 1.0476
Yesterday's intra-day decline in holiday-thinned Monday's session from 1.0532 (Asia) to 1.0451 suggests euro's correction from December's fresh 13-year bottom at 1.0352 has ended last Friday at 1.0655 and consolidation with downside bias remains for subsequent weakness to 1.0400/05, reckon pivotal sup at 1.0372 (last week's low) would remain intact.

On the upside, only above said yesterday's 1.0532 high aborts present bearish scenario on euro and may risk subsequent gain to 1.0580/90.

 

[AceTRaderForex]

AceTraderFx Dec 03: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 Jan 2017 09:14 GMT

USD/JPY - 117.83
Despite the greenback's sharp selloff from last Wednesday's high at 117.82 to 116.05 last Friday, subsequent strong rebound signals the decline from December's 10-1/2 month peak at 118.66 has made a temporary low over there and consolidation with upside bias would be seen for gain towards 118.24.
However, as broad-outlook remains consolidative, resistance at 118.43 should remain intact, yield retreat.

On the downside, only below 116.74 would indicate aforesaid recovery has ended there instead and turn outlook bearish for weakness to 116.43 later this week.

 

[AceTRaderForex]

AceTraderFx Dec 04: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jan 2017 02:10 GMT

EUR/USD - 1.0400
Despite yesterday's intra-day selloff from 1.0490 at European open and then a brief break of Dec's 13-year trough of 1.0352 to 1.0341 in New York morning after upbeat U.S. data, subsequent strong bounce to 1.0433 due to broad-based profit taking in usd suggests a temporary low has been made and consolidation is in store.

Above 1.0451 (Monday's low, now res) would bring stronger correction to 1.0480/90 whilst below 1.0341 would yield marginal weakness.
However, loss of downward momentum should keep price above 1.0300 today.

 

[AceTRaderForex]

AceTraderFx Dec 04: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jan 2017 09:26 GMT

USD/JPY - 117.76
Despite the greenback's sharp selloff from last Wednesday's high at 117.82 to 116.05 last Friday, subsequent strong rebound signals the decline from December's 10-1/2 month peak at 118.66 has made a temporary low over there and consolidation with upside bias would be seen for gain towards 118.24.
However, as broad-outlook remains consolidative, resistance at 118.43 should remain intact, yield retreat.

On the downside, only below 116.74 would indicate aforesaid recovery has ended there instead and turn outlook bearish for weakness to 116.43 later this week.

 

[AceTRaderForex]

AceTraderFx Dec 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jan 2017 03:48 GMT

EUR/USD - 1.0515
Although euro's intra-day rally above yesterday's 1.0500 high to 1.0541 at Asian open due to renewed broad-based usd's weakness confirms recent downtrend has made a temporary low at Tuesday's near 14-year bottom at 1.0341, near term overbought condition should prevent strong gain and expect consolidation before prospect of marginal rise.
However, reckon res at 1.0591 would cap upside.

On the downside, below 1.0446 (Wed's European high, now sup) any time signals at least the 1st leg of correction from 1.0341 has ended and risk subsequent weakness to 1.0390/00.

 

[AceTRaderForex]

AceTraderFx Dec 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jan 2017 03:25 GMT

EUR/USD - 1.0588
Yesterday's rally above 1.0575 res to 1.0615 in New York following soft U.S. private payrolls suggests euro's near term upmove from Tuesday's near 14-year bottom would resume after consolidation and head towards last week's high at 1.0655.
However, a break of this res level needed to retain bullishness for further subsequent headway to 1.0707/17.

On the downside, a break below 1.0541 (Thursday's) Asian high, now sup) would be the first signal temporary top is in place and risk would shift to downside for a stronger retracement to 1.0481/83.

 

[AceTRaderForex]

AceTraderFx Dec 06: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jan 2017 09:11 GMT

USD/JPY - 116.21
Despite the greenback's intra-day resumption of decline from December's 10-1/2 month peak at 118.66 to 115.07 ahead of Asian open, subsequent rebound suggests a temporary low has been made and choppy trading with upside bias would be seen ahead of today's release of U.S. jobs report and gain towards 116.78/80 is likely.
However, 117.23 should remain intact and yield another retreat later.

On the downside, only below 115.07 would revive bearishness for a stronger retracement of medium-term decline towards 114.74, then 114.30 early next week.

 

[AceTRaderForex]

AceTraderFx Dec 09 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jan 2017 02:05 GMT

EUR/USD - 1.0533
Euro's strong retreat in post-NFP New York session from 1.0622 to as low as 1.0525 confirms first leg of correction from last Tuesday's near 14-year trough at 1.0341 has ended there and 1-2 days of consolidation with downside bias remains for weakness to 1.0481/83, however, reckon 1.0433 (previous res, now sup) would contain downside and yield another rebound.

On the upside, only above 1.0575/85 suggests pullback is possibly over and risks re-test of 1.0622 later.

Data to be released today:

Japan market holiday, Australia building approvals, China CPI, PPI, Germany industrial production, trade balance, current account, exports, imports, Swiss retail sales, UK Halifax house price, Italy unemployment rate, EU sentix index and unemployment rate.

 

[AceTRaderForex]

AceTraderFx Dec 09 Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jan 2017 09:29 GMT

USD/JPY - 117.18
Despite the greenback's intra-day resumption of decline from December's 10-1/2 month peak at 118.66 to 115.07 ahead of Asian open, subsequent rebound suggests a temporary low has been made and choppy trading with upside bias would be seen ahead of today's release of U.S. jobs report and gain towards 116.78/80 is likely.
However, 117.23 should remain intact and yield another retreat later.

On the downside, only below 115.07 would revive bearishness for a stronger retracement of medium-term decline towards 114.74, then 114.30 early next week.

 

[AceTRaderForex]

AceTraderFx Dec 10 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jan 2017 03:00 GMT

EUR/USD - 1.0587
Although euro's strong rebound from 1.0511 yesterday signals pullback from 1.0622 (Friday) has ended there and consolidation with upside bias is seen, above said res is needed to extend near term upmove from last Tuesday's near 14-year bottom at 1.0341 towards December's 1.0655 high, loss of upward momentum should cap euro at 1.0680/85.

On the downside, only below 1.0511 dampens bullish bias on euro and risks stronger retracement to 1.0481/83 before of another rise later this week.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jan 2017 09:11 GMT

USD/JPY - 115.86
Despite the greenback's intra-day resumption of decline from December's 10-1/2 month peak at 118.66 to 115.07 ahead of Asian open, subsequent rebound suggests a temporary low has been made and choppy trading with upside bias would be seen ahead of today's release of U.S. jobs report and gain towards 116.78/80 is likely.
However, 117.23 should remain intact and yield another retreat later.

On the downside, only below 115.07 would revive bearishness for a stronger retracement of medium-term decline towards 114.74, then 114.30 early next week.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jan 2017 01:24 GMT

EUR/USD - 1.0557
Despite yesterday's initial brief break of last Friday's high at 1.0622 to 1.0627 in Asia, subsequent retreat to 1.0559 in Europe, then 1.0552 in New York afternoon session confirms early erratic rise from last Tuesday's near 14-year bottom at 1.0341 has indeed made a temporary top and a day of consolidation with near term downside bias is seen, reckon 1.0481/83 would contain weakness and bring subsequent rebound.

On the upside, expect 1.2600/04 to cap intra-day recovery and yield further decline and only above there may risk one more rise twd daily res at 1.2655 before prospect of a correction.

Data to be released today:

Australia consumer sentiment, Japan leading indicator, UK construction output, industrial output, manufacturing output, trade balance and Canada housing starts. President Donald Trump will hold his first press conference in 2017 around 16:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jan 2017 09:26 GMT

USD/JPY - 115.84
Despite the greenback's intra-day resumption of decline from December's 10-1/2 month peak at 118.66 to 115.07 ahead of Asian open, subsequent rebound suggests a temporary low has been made and choppy trading with upside bias would be seen ahead of today's release of U.S. jobs report and gain towards 116.78/80 is likely.
However, 117.23 should remain intact and yield another retreat later.

On the downside, only below 115.07 would revive bearishness for a stronger retracement of medium-term decline towards 114.74, then 114.30 early next week.

 

[AceTRaderForex]

AceTraderFx Dec 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jan 2017 05:09 GMT

EUR/USD - 1.0599
Despite yesterday's intra-day decline in Europe and New York morning session due to broad-based usd's strength ahead of U.S. President-elect Trump's news conference, subsequent rally from 1.0454 to as high as 1.0622 on active long usd liquidation signals pullback from 1.0627 (Tuesday) has ended and above said overhead res would extend upmove from last Tuesday's near 14-year bottom at 1.0341 towards key daily res at 1.0655, break there needed to retain bullish prospect of subsequent headway towards 1.0700/10.

On the downside, only below 1.0511 would abort present bullishness on the euro.

 

[AceTRaderForex]

AceTraderFx Dec 12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jan 2017 09:20 GMT

USD/JPY - 114.03
Despite the greenback's intra-day resumption of decline from December's 10-1/2 month peak at 118.66 to 115.07 ahead of Asian open, subsequent rebound suggests a temporary low has been made and choppy trading with upside bias would be seen ahead of today's release of U.S. jobs report and gain towards 116.78/80 is likely.
However, 117.23 should remain intact and yield another retreat later.

On the downside, only below 115.07 would revive bearishness for a stronger retracement of medium-term decline towards 114.74, then 114.30 early next week.

 

[AceTRaderForex]

AceTraderFx Dec 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jan 2017 05:00 GMT

EUR/USD - 1.0614
Despite yesterday's anticipated resumption of recent upmove from Jan's near 14-year trough at 1.0341 to 1.0685, subsequent retreat in NY session on broad-based usd dlr recovery suggests a temporary top has been made and consolidation with initial downside bias is in store.

As long as sup at 1.0564 holds, prospect of another rise towards 1.0700/10 remains, below said sup would risk stronger retracement of aforesaid rise towards 1.0511 next week.

 

[AceTRaderForex]

AceTraderFx Dec 13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jan 2017 09:50 GMT

USD/JPY - 114.62
Although the greenback has staged a recovery after yesterday's resumption of decline from December's 10-1/2 month peak at 118.66 to 113.76 and minor consolidation is in store, as 115.18 has capped upside in Asia today, downside bias is retained for another fall towards said support, break there would yield stronger weakness towards 113.40/50 before prospect of a correction early next week.

On the upside, only above 115.63 would indicate a temporary low has been made and risk would increase for a stronger retracement towards 116.34 but resistance at 116.87 would remain intact.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jan 2017 02:12 GMT

EUR/USD - 1.0612
Euro's intra-day decline from 1.0673 to 1.0596 in New York on Friday, then initial sterling-led weakness to 1.0595 at New Zealand open today suggests choppy trading below last Thursday's 1-month peak at 1.0685 would continue.
A firm break of 1.0595/96 sup would bring stronger retracement of recent upmove to 1.0550/55 but previous sup at 1.0511 should contain weakness.

On the upside, above 1.0673 would extend recent rise from 1.0341 (January's low) towards 1.0700/10 before prospect of a correction due to loss of upward momentum.

Data to be released today:
Japan CGPI, machinery orders, UK house prices, Italy CPI, HICP, EU CPI, core CPI, trade balance and U.S. market holiday on Monday.

 

[AceTRaderForex]

AceTraderFx Jan 16: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
16 Jan 2017 07:00GMT

EUR/USD - ..... Euro traded broadly sideways in directionless Asian morning. Despite being dragged lower by the pound fm 1.0615 at New Zealand open to intra-day low of 1.0595, renewed buying lifted the pair and price rebounded to 1.0635 in Australia, price then move relatively sideways in Asia.

The fact that Friday's retreat from 1.0673 to 1.0596 in New York morning suggests further choppy trading below last Thursday's 1-month peak at 1.0685 would continue, consolidation with downside bias remains.
Offers are tipped at 1.0635/45 and more with some stops above 1.0675, however, more stops are touted above 1.0685 and then above 1.0700.
Bids are noted at 1.0600-1.0590 with stops below there.

Euro area countries will release some eco. data starting with Italy's Dec CPI (Final), the same fm the EU (Final), EU CPI n trade balance.

ECB policymakers Francois Villeroy de Galhau and Peter Praet will speak at a Bank of France's "Secular Stagnation and Growth Measurement Conference" at 08:00GMT, then ECB Board Member Yves Mersch will deliver a speech at the farewell ceremony for Bank of Finland Deputy Governor Pentti Hakkarainen in Helsinki at 12:30GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 Jan 2017 04:00 GMT

EUR/USD - 1.0610
Although yesterday's anticipated weakness to 1.0580 (Europe) suggests euro's recent upmove from January's near 14-year trough at 1.0341 has made a temporary top last week at 1.0685 (Thursday), intra-day rebound at Asian open today signals 1st leg of correction is over and consolidation is in store before prospect of stronger retracement to 1.0550/55.

Only above 1.0650/55 indicates said pullback is over, then risk is seen for a re-test of 1.0685.
However, loss of upward momentum would limit gain to 1.0700/10.