AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 07 Apr 2017 09:06 GMT

USD/JPY - 110.60
The greenback's selloff in New York Wednesday after release of FOMC minutes to 110.29 yesterday, then 110.14 today after U.S. strikes on Syria confirms the first leg of correction from last Monday's 4-month trough at 110.11 has ended at 112.20 last Friday and consolidation with downside bias would be seen for medium-term decline to resume and yield re-test of aforesaid sup, break would extend towards 109.90/92 before prospect of a much-needed correction due to over sold condition.

On the upside, only above 111.59 would indicate the pullback has ended instead and turn outlook bullish for gain towards 111.94 but resistance at 112.20 would remain intact and yield retreat.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 10 Apr 2017 05:11 GMT

EUR/USD - 1.0582
Friday's selloff to a 4-week low of 1.0581 confirms euro's recent decline from March's 1.0907 peak has resumed and as long as 1.0630 (previous sup, now res) holds, outlook remains mildly bearish for further weakness, oversold condition is likely to keep price above daily chart sup at 1.0525 today and risk has increased for a minor correction to take place soon.

A daily close above 1.0630 would signal temporary bottom has been made and yield 1-2 days of consolidation, bring stronger retracement towards 1.0667, however, reckon res at 1.0684/89 would cap upside.

Data to be released today:
Japan current account, machine tool orders, Italy industrial output, EU sentix index and Canada housing starts.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 11 Apr 2017 05:15 GMT

EUR/USD - 1.0586
Despite euro's recovery from Mon's fresh 4-week trough of 1.0571 (Asia), as renewed at 1.0607 in New York session has capped said corrective bounce, outlook remains mildly bearish for recent decline from March's peak at 1.0907 to head towards 1.0525 chart obj.
However, loss of downward momentum should keep price well above pivotal sup at 1.0494 (March low).

Only a daily close above 1.0630 (previous sup, now res) confirms temporary low has been made and may risk stronger retracement towards 1.0667 before retreat.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 11 Apr 2017 09:14 GMT

USD/JPY - 110.67
Despite the greenback's strong rebound from last Friday's low at 110.14 to 110.58 yesterday, subsequent retreat suggests further choppy trading inside recent range of 110.11-112.20 would continue with mild downside bias.
However, as broad-outlook remains consolidative, reckon support at 110.27/29 would remain intact and yield another recovery later today.

On the downside, below March's 4-month trough at 110.11 is needed to confirm medium-term decline has once again resumed and extend weakness to 109.60/70 before prospect of a correction due to loss of momentum.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 12 Apr 2017 05:30 GMT

EUR/USD - 1.0600
Yesterday's intra-day rally to 1.0631 in New York morning due to short covering suggests recent decline from 1.0907 (March high) has made a temporary low at Monday's fresh 4-week trough of 1.0571. Despite present retreat in Asia, 1.0571 should remain intact today and bring another corrective bounce towards 1.0660/70 later today.

Only below 1.0571 would extend said decline towards next daily chart obj. at 1.0525.
However, loss of downward momentum has increased risk of a much-needed correction soon.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK
Update Time: 13 Apr 2017 06:23 GMT

EUR/USD - 1.0670
Yesterday's anticipated rally above 1.0631 (now sup) to 1.0675 in New York following U.S. Trump's usd-bearish comments confirms recent decline from 1.0709 (March high) has made a temporary low at 1.0571 (Monday) and consolidation remains for marginal gain, near term loss of upward momentum should cap price below previous res at 1.0702 and yield subsequent retreat.

On the downside, below 1.0600 would be the 1st signal said correction from 1.0571 has ended, then price would fall towards next daily downside chart sup at 1.0525.

Data to be released later:
UK housing price, Germany CPI, Swiss PPI, Italy CPI.
Canada manufacturing sales, U.S. jobless claims, PPI, core PPI and consumer sentiment.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Apr 2017 02:13 GMT

EUR/USD - 1.0644
Despite extending last week's decline to 1.0604 ahead of Asian open on Monday, subsequent erratic rise to 1.0670 in New York suggests further 'choppy' trading above April's 1.0571 bottom at 1.0571 would continue, as long as 1.0678 (reaction high) holds, consolidation with downside bias remains for another fall towards 1.0590.

Only above 1.0678 would risk stronger retracement of recent fall from 1.0907 (mar high) towards 1.0702 before prospect of another fall later this week.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Apr 2017 09:27 GMT

USD/JPY - 108.87
Despite the greenback's resumption of recent losing streak to a fresh 5-month trough at 108.13 yesterday, subsequent rally to 109.22 in Asia today suggests recent erratic downtrend has made a minor low there and choppy trading with upside bias would be seen for retracement towards 109.39, then to 109.85/86.
However, as broad-outlook remains consolidative, reckon 110.14 (previous support) would remain intact and yield retreat.

On the downside, only below 108.13 would revive bearishness for one more fall to 108.30 but as this move is losing downward momentum, reckon 108.13 would hold and bring a much-needed correction later this week.

 

[AceTRaderForex]

AceTraderFx Apr 19: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2017 02:11 GMT

EUR/USD - 1.0723
Yesterday's 'cable-led' rally above last week's 1.0678 high (now sup) to 1.0736 in New York session confirms early decline from March's 1.0907 peak has ended at 1.0571 and gain to 1.0775/80 is envisaged after consolidation, loss of upward momentum would cap price at 1.0800.

On the downside, only a daily close below 1.0678 signals top has been made, then risk is seen for a stronger retracement to 1.0635 later.

Data to be released later:
Italy trade balance, WPI, EU CPI, core CPI, trade balance.
U.S. mortgage applications and Fed Beige book.

 

[AceTRaderForex]

AceTraderFx Apr 19: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2017 09:08 GMT

USD/JPY - 108.82
Despite the greenback's resumption of recent losing streak to a fresh 5-month trough at 108.13 on Monday, subsequent rally to 109.22 yesterday suggests recent erratic downtrend has made a minor low there and choppy trading with upside bias would be seen for retracement towards 109.39, then to 109.85/86, however, as broad-outlook remains consolidative, reckon 110.14 (previous support, now resistance) would remain intact and yield retreat.

On the downside, only below 108.13 would revive bearishness for one more fall to 108.30 but as this move is losing downward momentum, reckon 108.13 would hold and bring a much-needed correction later this week.

 

[AceTRaderForex]

AceTraderFx Apr 20: Daily Recommendations on Major

DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2017 05:06 GMT

EUR/USD - 1.0718
Despite euro's retreat from Wed's fresh 2-week high of 1.0737 (Europe) to 1.0701 in New York, subsequent rebound has retained bullish prospect of a resumption of recent upmove from March's low at 1.0371 after consolidation, loss of upward momentum would cap price well below 1.0800 and risk has increased for a correction to take place.

A daily close below 1.0700 would be the 1st signal temporary top has been formed and yield stronger retracement towards 1.0635.

 

[AceTRaderForex]

AceTraderFx Apr 20: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2017 09:01 GMT

USD/JPY - 109.03
Despite the greenback's resumption of recent losing streak to a fresh 5-month trough at 108.13 on Monday, subsequent rally to 109.22 yesterday suggests recent erratic downtrend has made a minor low there and choppy trading with upside bias would be seen for retracement towards 109.39, then to 109.85/86.
However, as broad-outlook remains consolidative, reckon 110.14 (previous support, now resistance) would remain intact and yield retreat.

On the downside, only below 108.13 would revive bearishness for one more fall to 108.30 but as this move is losing downward momentum, reckon 108.13 would hold and bring a much-needed correction later this week.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2017 05:19 GMT

EUR/USD - 1.0718
Although euro's strong retreat from Thursday's 3-week high of 1.0778 (Europe) in New York after news of fatal shooting in Paris confirms recent upmove has made a temporary top and sideways swings are in store, as long as 1.0678 (previous res, now sup) holds, upside bias remains but above 1.0778 needed to extend marginal gain to 1.0800/10 before correction.

Below 1.0678 anytime would risk stronger retracement towards 1.0635.

Data to be released:
France manufacturing PMI, services PMI, Germany manufacturing PMI, services PMI, Italy industrial orders, EU manufacturing PMI, services PMI, current account, UK retail sales.
Canada CPI, U.S. manufacturing PMI, services PMI, and home sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Apr 2017 05:20 GMT

EUR/USD - 1.0844
Despite initial gap-up open and then a brief rise to a 5-month peak of 1.0939 shortly after New Zealand open as election win on the first round of French Presidential election by centrist Macron has triggered broad-based short-covering in the euro vs usd, yen, gbp and chf, intra-day strong retreat after short-term buying quickly fizzled out suggests temporary top has been made and 'choppy' sideways swings with downside bias is envisaged.

As long as 1.0800 holds, stronger retracement towards 1.0778 would be seen, break would extend weakness to 1.0730/40 later today or tom but 1.0683 sup (Friday's low) should remain intact.

Data to be released later:
Germany Ifo business climate, current assessment, expectations, UK house price, CBI trends.
Canada wholesale sales and U.S. National activity index on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Apr 2017 09:16 GMT

USD/JPY - 110.12
Despite today's gap-up open to 110.61 in New Zealand due to active buying in euro/yen cross on news of a victory by France's centrist candidate Macron in the first round of election, subsequent retreat suggests the correction from April's 5-month trough at 108.13 has possibly ended there and choppy trading with downside bias would be seen for a stronger retracement to 109.46/50.
However, support at 108.89 should remain intact and yield rebound.

On the upside, only above 110.61 would revive bullishness for one more rise towards 111.00/02 before prospect of another fall due to near term loss of momentum.

Data to be released later:
Germany Ifo business climate, current assessment, expectations, UK house price, CBI trends.
Canada wholesale sales and U.S. National activity index on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2017 05:00 GMT

EUR/USD - 1.0864
Euro's relatively narrow move in European and New York session on Monday following a gap-up open to a 5-month peak of 1.0939 in New Zealand, then intra-day retreat to 1.0821 in Asia suggests recent uptrend has made a temporary top, as long as 1.0900 holds, consolidation mild downside bias remains for a retracement towards 1.0800 before rebound.

Only a firm break above 1.0900 would suggest pullback is over and yield subsequent re-test of 1.0939.
Below 1.0800 risks weakness towards 1.0778 before prospect of a rebound.

Data to be released later:
France business climate, UK PSNB, PSNCR, U.S. redbook, home price, new home sales and Richmond Fed manufacturing survey.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2017 09:11 GMT

USD/JPY - 110.40
Despite yesterday's gap-up open to 110.61 in New Zealand due to active buying in euro/yen cross on news of a victory by France's centrist candidate Macron in the first round of election, subsequent retreat suggests the correction from April's 5-month trough at 108.13 has possibly ended there and choppy trading with downside bias would be seen for a stronger retracement to 109.46/50, however, support at 108.89 should remain intact and yield rebound.

On the upside, only above 110.61 would revive bullishness for one more ris towards 111.00/02 before prospect of another fall due to near term loss of momentum.

Data to be released today:
France business climate, UK PSNB, PSNCR, U.S. redbook, home price, new home sales and Richmond Fed manufacturing survey.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2017 01:50 GMT

EUR/USD - 1.0937
Although yesterday's brief break of Monday's 1.0939 high to a fresh 5-month peak of 1.0950 in New York on ECB sources the ECB may tweak its language following Thursday's policy meeting, as recent upmove is losing upward momentum, strong gain is not expected today and reckon 1.1000 (option barrier) would remain intact.

On the downside, a daily below 1.0900 anytime signals temporary top is in place, then risk would shift to the downside for a stronger retracement towards 1.0852 later.

Data to be released on Wednesday:
Australia CPI, France consumer confidence, U.S. mortgage applications, building permits and Canada retail sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2017 09:17 GMT

USD/JPY - 111.31
Despite the greenback's retreat from Monday's high at 110.61 to 109.60 Tuesday, subsequent rally and break of aforesaid resistance suggests corrective rise from April's 5-month trough at 108.13 has once again resumed and consolidation with upside bias would be seen for gain towards 111.58/60, then 111.88.
However, loss of momentum would prevent strong move beyond there and risk would increase for a much-needed correction later.

On the downside, only below 110.61 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement to 110.30/34 before prospect of a rebound later.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2017 02:41 GMT

EUR/USD - 1.0908
Despite yesterday's stronger-than-expected decline from a fresh 5-1/2 month peak of 1.0951 (Europe) to 1.0856 in New York morning due to broad-based long liquidation in the euro, subsequent rebound after market was disappointed by Trump's vague tax plan suggests said correction is possibly over and consolidation with upside bias is seen ahead of ECB press conference.

Above 1.091 would encourage for marginal gain, loss of momentum is likely to cap price below 1.1000.
Below 1.0856 would shift risk to downside for stronger correction to 1.0821 sup, break may extend towards 1.0778.

Data to be released on Thursday:
Australia export price index, import price index, Japan BoJ rate decision.
Germany consumer confidence, CPI, HICP, UK house price, CBI trades, Italy business confidence, consumer confidence, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, ECB rate decision.
U.S. jobless claims, durable goods, trade balance, wholesale inventories and pending home sales.