AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 Jan 201709:15 GMT

USD/JPY - 113.13
The greenback's intra-day fall below yesterday's trough at 113.64 signals erratic decline from December's 10-1/2 month peak at 118.66 remains in progress and consolidation with downside would be seen for weakness towards 112.88/90.
However, over sold condition would prevent steep fall below there and reckon 112.42 would remain intact initially and yield a much-needed rebound later this week.

On the upside, only above 114.25 (previous support, now resistance) would indicate a temporary low has been made and risk stronger retracement towards 115.45.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jan 2017 02:17 GMT

EUR/USD - 1.0704
Euro's rally which began in Asia yesterday's due to broad-based usd weakness and then intra-day rally above last week's 1.0685 high to 1.0719 confirms upmove from Jan's near 14-year bottom at 1.0341 has once again resumed and would head to 1.0740/50 after consolidation, loss of near term upward momentum is likely to prevent strong gain and risk has increased for a much-needed pullback to occur later today or tomorrow.

Expect 1.0635 (Monday's high, now sup) to hold for further gain and only below there signals temporary top is made, risks stronger retracement to 1.0580/90.

 

[AceTRaderForex]

AceTraderFx Dec 18: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jan 2017 09:10 GMT

USD/JPY - 113.19
The greenback's intra-day fall below yesterday's trough at 113.64 signals erratic decline from December's 10-1/2 month peak at 118.66 remains in progress and consolidation with downside would be seen for weakness towards 112.88/90, however, over sold condition would prevent steep fall below there and reckon 112.42 would remain intact initially and yield a much-needed rebound later this week.

On the upside, only above 114.25 (previous support, now resistance) would indicate a temporary low has been made and risk stronger retracement towards 115.45.

 

[AceTRaderForex]

AceTraderFx Jan 19: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 19 Jan 2017 02:18 GMT

EUR/USD - 1.0628
Euro's intra-day decline from 1.0703 to as low as 1.0628 after traders interpreted Fed Chair Yellen's speech as hawkish suggests recent erratic upmove fro Jan's near 14-year bottom at 1.0341 has made a temporary top at 1.0719 Tue and consolidation with downside bias remains for weakness to 1.0580.
However, bear term oversold condition should keep price above 1.0530 ahead of ECB President Draghi's press conference.

Expect 1.0685 to hold for this move and only above 1.0703 aborts near term bearish view, risks re-test of 1.0719, then projected upside target at 1.0740.

 

[AceTRaderForex]

AceTraderFx Jan 19: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 Jan 2017 09:15 GMT

USD/JPY - 114.81
The greenback's intra-day fall below yesterday's trough at 113.64 signals erratic decline from December's 10-1/2 month peak at 118.66 remains in progress and consolidation with downside would be seen for weakness towards 112.88/90.
However, over sold condition would prevent steep fall below there and reckon 112.42 would remain intact initially and yield a much-needed rebound later this week.

On the upside, only above 114.25 (previous support, now resistance) would indicate a temporary low has been made and risk stronger retracement towards 115.45.

 

[AceTRaderForex]

AceTraderFx Jan 19: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jan 2017 02:19 GMT

EUR/USD - 1.0672
Although euro's strong rebound from 1.0589 yesterday signals 1st leg of correction Tuesday's 5-week peak at 1.0719 has ended and consolidation with upside bias is seen, above 1.0703 needed to signal upmove from January's near 14-year bottom has once again resumed and extend to 1.0740/50, loss of upward momentum should cap price at 1.0780/85.

On the downside, below 1.0622 would turn outlook bearish for another corrective fall to 1.0550/55.

 

[AceTRaderForex]

AceTraderFx Jan 23: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 23 Jan 2017 02:10 GMT

EUR/USD - 1.0727
Euro's rally in post-Trump inauguration New York session and then intra-day break of last week's (Tuesday) 1.0719 high confirms recent upmove from Jan's near 14-year bottom at 1.0341 has once again resumed and gain to 1.0740/50 is seen after consolidation, o/bot condition is likely to cap price below 1.0820 today and risk has increased for a correction to take place later.

On the downside, only below 1.0693 (New Zealand low) signals temporary top has been made and may risk stronger retracement to 1.0625/35.

 

[AceTRaderForex]

AceTraderFx Jan 23: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 23 Jan 2017 09:05 GMT

USD/JPY - 113.42
Although dollar's spectacular rally from Tue's 14-week bottom at 112.57 to as high as 115.61 yesterday confirms recent decline from 118.66 (December) has ended there, subsequent retreat on renewed broad-based usd weakness suggests 1-2 days of choppy consolidation is in store, as long as 114.00/10 holds, re-test of 115.61 is still envisaged.

On the downside, below 114.00 anytime indicates 1st leg of correction is over and risks stronger retracement to 113.65/70 before prospect of another strong rebound later this week.

 

[AceTRaderForex]

AceTraderFx Jan 24: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jan 2017 06:00 GMT

EUR/USD - 1.0755
Yesterday's resumption of upmove from January's near 14-year bottom at 1.0341 and then intra-day initial gain to a 6-week high at 1.0774 (Australia) suggests euro would head twowards 1.0800 after consolidation.
However, near term loss of upward momentum should prevent strong gain today and reckon res at 1.0875 would remain intact.

On the downside, only a daily close below Mon's New York low at 1.0707 confirms temporary top has been made and risk stronger recent to 1.0650/60 but sup at 1.0625 would contain weakness.

 

[AceTRaderForex]

AceTraderFx Jan 24: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jan 2017 09:21 GMT

USD/JPY - 113.25
Although dollar's spectacular rally from Tuesday's 14-week bottom at 112.57 to as high as 115.61 yesterday confirms recent decline from 118.66 (Dec) has ended there, subsequent retreat on renewed broad-based usd weakness suggests 1-2 days of choppy consolidation is in store, as long as 114.00/10 holds, re-test of 115.61 is still envisaged.

On the downside, below 114.00 anytime indicates 1st leg of correction is over and risks stronger retracement to 113.65/70 before prospect of another strong rebound later this week.

 

[AceTRaderForex]

AceTraderFx Jan 25: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jan 2017 02:16GMT

EUR/USD - 1.0734.. The euro finally pared recent strong gain and is currently trading just a tad above yesterday's low at 1.0721 as intra-day broad-based usd strength (or some may call it short covering rebound) knocked the single currency from a 6-week high of 1.0775 to 1.0721 in New York session.

Looks like the 1.0775 high print will remain for a day or do and consolidation is the order of the day. Having said that, current weakness in dlr/yen is likely to prevent the greenback rising vs its other G3 currencies, so one can trade on both sideways of the market.

Offers are noted at 1.0745/55 and more above with stops reported above 1.0775, however, more selling is touted at 1.0800. a mixture of bids and stops is reported at 1.0725/20, more stops are touted below 1.0700.

Euro area countries will release a slew of eco. data strating with France's business climate, then the important Germany's Ifo business climate, Italy's industrial orders and trade balance.

 

[AceTRaderForex]

AceTraderFx Jan 25: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Jan 2017 09:19 GMT

USD/JPY - 113.62
Despite the greenback's resumption of erratic decline from December's 10-1/2 month peak at 118.66 to a fresh 7-week trough at 112.53 yesterday in Australia, subsequent strong rebound to 113.99 today suggests a temporary low has been made there and consolidation with mild upside bias would be seen.
However, resistance at 114.54 should remain intact and yield another fall later this week.

On the downside, only below 113.17 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.

 

[AceTRaderForex]

AceTraderFx Jan 26: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jan 2017 05:12 GMT

EUR/USD - 1.0759
Although yesterday's brief drop to 1.0712 in Europe and then subsequent strong bounce to 1.0770 in New York morning suggests euro's pullback from Tuesday's 6-week high at 1.0775 has ended, subsequent intra-day price swings should bring further choppy trading before recent rise from January's near 14-year bottom at 1.0341 resumes, 'loss of upward momentum' should cap price at 1.0820.

Only a daily close below 1.0712 signals temporary top is in place and risk stronger correction to 1.0652 but reckon 1.0625 sup would contain weakness and bring rebound.

 

[AceTRaderForex]

AceTraderFx Jan 26: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jan 2017 09:01 GMT

USD/JPY - 113.78
Despite the greenback's resumption of erratic decline from December's 10-1/2 month peak at 118.66 to a fresh 7-week trough at 112.53 on Tuesday, subsequent strong rebound to 113.99 yesterday suggests a temporary low has been made there and consolidation with mild upside bias would be seen.
However, resistance at 114.54 should remain intact and yield another fall later this week.

On the downside, only below 112.90 would indicate aforesaid recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.

 

[AceTRaderForex]

AceTraderFx Jan 27: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jan 2017 01:23 GMT

EUR/USD - 1.0677
Euro's firm break of previous 1.0707/12 sup (now res) yesterday to as low as 1.0658 due to broad-based short covering in the usd suggests confirms recent upmove from January's near 14-year trough at 1.0341 has made a top at 1.0775 on Tuesday and consolidation with downside bias remains for further weakness, near term oversold condition should keep price well above daily sup at 1.0589 today.

On the upside, only a daily close above 1.0712 signals aforesaid correction from 1.0775 is over and risk another rise towards 1.0750/60 later.

 

[AceTRaderForex]

AceTraderFx Feb 01: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 01 Feb 2017 01:40 GMT

EUR/USD - 1.0793
Yesterday's impressive rally above last week's 1.0775 high to a 7-week peak of 1.0811 (New York) following 'euro comments' by U.S.
Trump's trade adviser confirms upmove from January's near 14-year bottom at 1.0341 has once again resumed and expect initial consolidation before bringing further gain, near term loss of upward momentum should cap price below daily res at 1.0875 (2016 December high) and yield subsequent minor correction.

On the downside, only a daily close below 1.0740 suggests aforesaid rise has made a temporary top, then risk would shift to the downside for stronger retracement towards 1.0685 but this week's low at 1.0620 should remain intact.

 

[AceTRaderForex]

AceTraderFx Feb 03: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 03 Feb 2017 03:17 GMT

EUR/USD - 1.0758
Although euro's strong retreat from yesterday's 8-week high of 1.0829 to as low as 1.0756 in New York session due to broad-based short-covering rebound in the greenback confirms recent erratic upmove has made a temporary top there and consolidation with downside bias remains ahead of release of key U.S. jobs report, a daily close below 1.0732 sup needed to bring stronger retracement to 1.0685 and then towards 1.0620 later next week.

On the upside, above 1.0829 would extend marginal gain, however, loss of near term upward momentum should cap price below daily res at 1.0875 and risk is seen for a much-needed correction to take place.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Feb 2017 01:19 GMT

EUR/USD - 1.0785
Euro's strong rebound from 1.0712 to 1.0797 in post-NFP New York trading on Friday signals correction from Thursday's 8-week peak at 1.0829 has ended there and intra-day retreat from 1.0800 (Australia) suggests consolidation is in store before re-test of said last week's high, break would extend recent upmove from January's near 14-year trough at 1.0341 to 1.0840/50, near term loss of upward momentum should cap price below key res at 1.0875 (December high).

On the downside, only below 1.0712 aborts present bullish scenario on the single currency.

 

[AceTRaderForex]

AceTraderFx Feb 07: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 07 Feb 2017 05:16 GMT

EUR/USD - 1.0726
Although yesterday's decline from 1.0800 (AUS) to 1.0706 suggests choppy trading below last Thursday's 8-week peak at 1.0829 would continue, subsequent rebound in New York afternoon signals consolidation is in store, above would signal correction is over and yield another rise to 1.0790/00.

Below 1.0706 would extend marginal weakness, near term loss of downward momentum should keep price above 1.2665/70 and bring another bounce later today.

 

[AceTRaderForex]

AceTraderFx Feb 08: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 08 Feb 2017 06:00 GMT

EUR/USD - 1.0678
Yesterday's break of previous 1.0706/12 sup area (now res) to 1.0656 and then daily close below there confirms recent erratic rise from January's near 14-year bottom at 1.0341 has made a top at 1.0829 last week and choppy consolidation with downside bias remains for subsequent weakness towards 1.0620.
On the upside, only a firm rise above indicated res would confirm temporary low is made, then risk is seen for stronger gain to 1.0750/55 before prospect of another fall later this week.