AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

AceTraderFx Mar 22: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 22 Mar 2017 09:33 GMT

USD/JPY - 111.37
The greenback's selloff yesterday and subsequent break of February's trough at 111.60 signals the erratic decline from December 2016 peak at 118.66 has finally resumed and consolidation with downside bias remains for further weakness towards 111.10/15.
However, as this move is losing downward momentum, reckon support at 110.80 would remain intact and yield a much-needed correction later.

On the upside, only above 112.26 (previous support) would indicate a temporary low has been made and risk stronger retracement towards 112.90.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 23 Mar 2017 05:07 GMT

EUR/USD - 1.0785
Although euro has retreated from yesterday's high at 1.0825 after failure to re-test February's peak at 1.0829, as long as 1.0770/76 sup holds, outlook remains mildly bullish for such a move to take place later today, above would extend Medium Term rise from January's near 14-year bottom at 1.0341 towards next daily chart objective at 1.0875 which may hold on 1st testing.

A daily close below 1.0670 confirms temporary top is in place and risk stronger retracement towards 1.0720 before prospect of rebound.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 23 Mar 2017 09:02 GMT

USD/JPY - 111.19
The greenback's selloff yesterday and subsequent break of February's trough at 111.60 signals the erratic decline from December 2016 peak at 118.66 has finally resumed and consolidation with downside bias remains for further weakness towards 110.50/60, however, as this move is losing downward momentum, reckon support at 110.27 would remain intact and yield a much-needed correction later.

On the upside, only above 112.26 (previous support) would indicate a temporary low has been made and risk stronger retracement towards 112.90.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 24 Mar 2017 4:02GMT

EUR/USD - 1.0783
Although euro's intra-day retreat from 1.0805 to 1.0769 yesterday (Europe) and then narrow movement in subdued New York session suggests recent upmove has made a temporary top at Wed's 5-week peak at 1.0825, as long as 1.0769 sup holds, re-test of February's high at 1.0829 is still envisaged, above would encourage for subsequent headway towards next daily res at 1.0875.

A daily close below 1.0769 confirms recent erratic rise from 1.0494 (February) has formed a top, then risk would shift to downside for stronger retracement towards 1.0720 later.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 24 Mar 2017 09:16 GMT

USD/JPY - 111.26
The greenback's selloff yesterday and subsequent break of February's trough at 111.60 signals the erratic decline from December 2016 peak at 118.66 has finally resumed and consolidation with downside bias remains for further weakness towards 110.50/60.
However, as this move is losing downward momentum, reckon support at 110.27 would remain intact and yield a much-needed correction later.

On the upside, only above 112.26 (previous support) would indicate a temporary low has been made and risk stronger retracement towards 112.90.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 27 Mar 2017 05:03 GMT

EUR/USD - 1.0845
Euro's intra-day rally above February's 1.0829 high to a 15-week peak of 1.0850 in delayed market reaction to the dropping of Trump healthcare bill late Friday and also Sunday's regional election win in Germany by ruling Merkel's party suggests medium-term uptrend has resumed.
However, overbought condition is likely to limit gain to 1.0890/00 today.

On the downside, only below 1.0791 (Friday's New York low) would signal temporary top is in place and yield stronger retracement to 1.0760/70 later.

 

[AceTRaderForex]

AceTraderFx Mar 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 28 Mar 2017 05:22 GMT

EUR/USD - 1.0863
Despite yesterday's impressive rally above February's 1.0829 high (now sup) to a 4-month peak of 1.0907 in New York morning, subsequent retreat on short-covering rebound in USD suggests temporary top has been made and consolidation is in store before prospect of marginal rise, near term loss of upward momentum would cap price at 1.0940/50.

On the downside, only a daily close below 1.0829 confirms temporary top has been made, then risk would shift to downside for a stronger retracement to 1.0665/70.

 

[AceTRaderForex]

AceTraderFx Mar 28: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 28 Mar 2017 09:12 GMT

USD/JPY - 110.66
The greenback opened lower in New Zealand as President Trump failed to push through his healthcare bill in Congress and subsequent fall below last week's low at 110.63 signals decline from December's peak at 118.66 has once again resumed and consolidation with downside bias remains for weakness towards 109.90/00.
However, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later this week.

On the upside, only above 111.58 would be the first sign that a temporary low has been made and risk stronger retracement to 112.11 before prospect of another decline later.

 

[AceTRaderForex]

AceTraderFx Mar 29: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 29 Mar 2017 05:02GMT

EUR/USD - 1.0820
Euro's decline from 1.0873 (Europe) to 1.0799 in New York yesterday as upbeat U.S. data had led to broad-based short covering in the USD confirms recent uptrend has made a temporary top at Monday's 4-month peak at 1.0907 and consolidation with downside bias remains for weakness to 1.0740/50.
Near term oversold condition should keep price above sup at 1.0720 and bring rebound.

On the upside, only above 1.0873 signals aforesaid correction from 1.0907 has ended and revive bullish prospect of a re-test of this res level.

Data to be released later:
UK house prices, mortgage approvals, Italy business confidence, consumer confidence, U.S. wage inflation and pending home sales.

 

[AceTRaderForex]

AceTraderFx Mar 29: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 29 Mar 2017 09:01 GMT

USD/JPY - 111.07
Despite the greenback's selloff to a fresh 4-month trough 110.11 on Monday after U.S. President Trump's failure to push through his healthcare bill in Congress, subsequent strong rebound to 111.32 today suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement towards 111.58.
However, near term loss of momentum would keep price below 111.95.

On the downside, only below 110.63 would indicate aforesaid correction has ended instead and turn outlook bearish for a re-test of 110.11, break would extend towards 109.50/60.

 

[AceTRaderForex]

AceTraderFx Mar 30: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 30 Mar 2017 06:00 GMT

EUR/USD - 1.0748
Yesterday's resumption of decline from Monday's 4-month peak at 1.0907 to 1.0741 strongly suggests euro's medium-term rise from January's near 4-year trough at 1.0341 has made a temporary top and consolidation with downside bias remains, a daily close below last week's 1.0720 low (Tuesday) would add credence to this view and bring stronger retracement towards 1.0650/55 'later'.

On the upside, only above 1.0799 (previous low, now res) would abort present bearish scenario on euro, risk stronger gain towards 1.0827.

Data to be released later:
German import prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE, core PCE, jobless claims and Canada PPI.

 

[AceTRaderForex]

AceTraderFx Mar 30: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 30 Mar 2017 09:07 GMT

USD/JPY - 111.10
Despite the greenback's selloff to a fresh 4-month trough 110.11 on Monday after U.S. President Trump's failure to push through his healthcare bill in Congress, subsequent strong rebound to 111.43 today suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement towards 111.58.
However, near term loss of momentum would keep price below 111.95.

On the downside, only below 110.63 would indicate aforesaid correction has ended instead and turn outlook bearish for a re-test of 110.11, break would extend towards 109.50/60.

 

[AceTRaderForex]

AceTraderFx Mar 31: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 31 Mar 2017 06:01 GMT

EUR/USD - 1.0680
Yesterday's break of last week's low at 1.0720 to 1.0673 due to continued broad-based USD strength confirms euro's medium-term upmove from 1.0341 (January) has formed a top at Monday's 4-month peak at 1.0907 and consolidation with downside bias remains for further weakness.
However, oversold condition should prevent steep fall ahead of weekend break and reckon sup at 1.0601 would remain intact.

Only above 1.0741 indicates temporary bottom has been made and may risk stronger retracement to 1.0768/73 before prospect of another fall next week.

Data to be released later:
UK house prices, GDP, current account, Germany retail sales, unemployment rate, France PPI, CPI, EU CPI, core CPI, Italy CPI, HICP, PPI.
U.S. PCE, personal income, personal spending, Chicago PMI, consumer sentiment and Canada GDP MM - Jan

 

[AceTRaderForex]

AceTraderFx Mar 31: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 31 Mar 2017 09:35 GMT

USD/JPY - 111.88
Despite the greenback's selloff to a fresh 4-month trough 110.11 on Monday after U.S. President Trump's failure to push through his healthcare bill in Congress, subsequent strong rebound to 112.20 today suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement towards 112.50/60.
However, near term loss of momentum would keep price below 112.90.

On the downside, only below 110.63 would indicate aforesaid correction has ended instead and turn outlook bearish for a re-test of 110.11, break would extend towards 109.50/60.

Data to be released later:
UK house prices, GDP, current account, Germany retail sales, unemployment rate, France PPI, CPI, EU CPI, core CPI, Italy CPI, HICP, PPI.
U.S. PCE, personal income, personal spending, Chicago PMI, consumer sentiment and Canada GDP MM - Jan

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 03 Apr 2017 06:06 GMT

EUR/USD - 1.0677
Friday's resumption of decline from 1.0907 (Monday) to a 2-week low at 1.0652 at New York close confirms euro's medium-term upmove from January's 1.0341 bottom has made a top there and expect initial consolidation today before aforesaid fall extends marginal weakness.
However, 'loss of downward momentum' should keep price well above daily chart sup at 1.0601.

On the upside, only above 1.0720 (previous sup, now res) would defer bearish scenario but 1.0740/50 should cap upside and yield another decline later this week.

Data to be released later:
Swiss manufacturing PMI, Italy manufacturing PMI, France manufacturing PMI, Germany manufacturing PMI, EU manufacturing PMI, PPI, unemployment rate, UK manufacturing PMI.
Canada manufacturing PMI, U.S. manufacturing PMI, ISM manufacturing PMI and construction spending.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 03 Apr 2017 09:28 GMT

USD/JPY - 111.42
Despite the greenback's selloff to a fresh 4-month trough 110.11 on Monday after U.S. President Trump's failure to push through his healthcare bill in Congress, subsequent strong rebound to 112.20 Friday suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement towards 112.50/60.
However, near term loss of momentum would keep price below 112.90.

On the downside, only below 110.63 would indicate aforesaid correction has ended instead and turn outlook bearish for a re-test of 110.11, break would extend towards 109.50/60.

 

[AceTRaderForex]

TrendsetterFX: Daily Recommendations on Major- EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Apr 2017 05:15 GMT

EUR/USD - 1.0680
Although euro's rebound from yesterday's fresh 2-week trough at 1.0636 (Europe) signals recent decline from March's 4-month peak at 1.0907 has made a temporary low and consolidation is in store, as long as previous res at 1.0702 holds, downside bias remains for marginal weakness, loss of downward momentum should keep price above minor daily sup at 1.0601.

Only a daily close above 1.0702 would risk stronger retracement of aforesaid fall to 1.0730/40 before prospect of another fall later this week.

Data to be released on Wednesday:

Australia service index, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, UK services PMI, U.S. ADP employment, services PMI, and ISM non-manufacturing PMI.

 

[AceTRaderForex]

TrendsetterFX: Daily Recommendations on Major- USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Apr 2017 09:43 GMT

USD/JPY - 110.69
Although dollar's cross-inspired decline from 112.20 (Friday) to 110.27 yesterday suggests early correction from March's fresh 4-month low at 110.11 has ended, intra-day cross-inspired rebound to 110.91 suggests consolidation is in store, as long as 1111.00/10 holds, downside bias remains for re-test of 110.11, break needed to extend weakness to 109.80/90.

Only a daily close above 111.13 'prolongs' choppy sideways swings and risks another rise towards 111.59.

 

[AceTRaderForex]

AceTraderFX Apr 06: Daily Recommendations on Major- EUR/USD

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

EUR/USD - 1.0675
Despite yesterday's marginal weakness to a fresh 2-week trough of 1.0635 after release of FOMC minutes, subsequent rebound on broad-based long USD liquidation suggests recent decline from Mar's 4-month peak at 1.0709 has possibly made a temporary low and consolidation with upside bias is seen, above 1.0702 res needed to bring stronger retracement to 1.0730/40.

On the downside, below 1.0635/40 would yield one more fall.
However, loss of downward momentum should keep price well above minor daily sup at 1.0601 today.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 07 Apr 2017 06:02 GMT

EUR/USD - 1.0644
Although euro has remained under pressure after yesterday's rebound from a 3-week trough of 1.0630 to 1.0675 (New York), as recent decline from Mar's 4-month peak at 1.0709 is losing downward momentum.
Minor daily sup at 1.0601 is expected to hold ahead of release of key U.S. jobs data later.

Above 1.0785/89 would bring stronger retracement of aforesaid fall to 1.0702.
However, reckon 1.0736/40 would cap upside.

Data to be released on Friday:

Japan leading economic index, Swiss unemployment rate, Germany industrial production, current account, imports, exports, trade balance, France exports, imports, trade balance, current account, UK house prices, industrial production, manufacturing production, trade balance, Italy retail sales, Canada unemployment rate, employment change, Ivey PMI, U.S. average hourly earnings, unemployment rate, non-farm payrolls, private payrolls and wholesale inventories.