AceTraderFx : Daily Recommendations on Major

Discussion in 'Technical Analysis' started by AceTRaderForex, Feb 17, 2016.

  1. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 21 Dec 2017 09:30 GMT

    USD/JPY - 113.59
    The greenback's strong rebound from last Friday's low at 112.03 strongly suggests the pullback from last Tuesday's high at 113.75 has ended there and consolidation with upside bias remains for upmove from November's 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.

    On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.

    Data to be released on Thursday:
    Japan Bank of Japan interest rate decision, Swiss exports, imports, trade balance, France business climate, U.K. PSNB, PSNCR.
    U.S. GDP, PCE, core PCE, initial jobless claims, national activity index, monthly home price, Canada CPI, core CPI, retail sales, and EU consumer confidence.
     
  2. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Dec 22: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 22 Dec 2017 06:30 GMT

    EUR/USD - 1.1839
    Despite yesterday's sideways swings below Wed's 2-week high of 1.1902, intra-day brief but sharp selloff to 1.1817 at Asian open in pre-holiday thin trading in delayed reaction to early news of election win by Catalan separatists suggests upmove from 1.1718 (December low) has made a temporary top and choppy consolidation is in store ahead of long X'mas weekend holiday.

    As long as 1.1875/80 holds, stronger retracement to 1.1806 and possibly towards 1.1776/77 mat be seen whilst a firm break above 1.1880 signals pullback from 1.1902 is over and brings re-test of this res, then later to 1.1930/40.

    Euro area countries will release some eco. data but market focus is obviously reaction from Europe players on the election win by Catalan separatists, so keep your powder dry and be nimble and be quick when European markets open at 07:00GMT (however, European early birds may start trading around 06:30GMT).
     
  3. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 22 Dec 2017 10:00 GMT

    USD/JPY - 113.42
    The greenback's strong rebound from last Friday's low at 112.03 strongly suggests the pullback from last Tuesday's high at 113.75 has ended there and consolidation with upside bias remains for upmove from November's 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.

    On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.

    Data to be released on Friday:
    Germany GfK consumer sentiment, France consumer spending, GDP, producer prices, Swiss KOF indicator, U.K. GDP, Italy business confidence, consumer confidence, industrial order, industrial sales.
    Canada GDP, retail sales, and U.S. building permits, personal income, PCE, core PCE, durable goods, durables ex-transport, durables ex-def, University of Michigan sentiment, new home sales, KC Fed manufacturing
     
  4. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 27 Dec 2017 05:30 GMT

    EUR/USD - 1.1860
    Despite euro's intra-day sideways swings following early retreat from last week's high at 1.1902 (Wednesday) to 1.1817 on Friday, as long as said reaction low holds, consolidation with upside bias remains for re-test of 1.1902, break would extend erratic upmove from 1.1718 (Dec low) to 1.1930/40, however, reckon November's peak at 1.1961 should cap upside.

    On the downside, only below 1.1817 risks stronger retracement of said upmove to 1.7767/77 before prospect of rebound later this week.

    No key eco. data is due out today n with many banks' trading books are closed for the year, year-end fund flows will definitely have a great impact on intra-day price moves.
     
  5. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Dec 27: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 27 Dec 2017 09:30 GMT

    USD/JPY - 113.18
    The greenback's strong rebound from last Friday's low at 112.03 strongly suggests the pullback from last Tuesday's high at 113.75 has ended there and consolidation with upside bias remains for upmove from November's 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.

    On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.

    Data to be released today:
    Japan construction orders, housing starts, Swiss UBS consumption indicator, ZEW investor sentiment, U.K. BBA mortgage approvals, and U.S. redbook, pending home sales on Wednesday.
     
  6. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 28 Dec 2017 05:30 GMT

    EUR/USD - 1.1910
    Although yesterday's break of last week's high at 1.1902 to a 3-week peak of 1.1910 in New York due to downbeat U.S. consumer confidence and falling treasury yields confirms recent erratic upmove has once again resumed, loss of upward momentum is expected to cap price below Nov's top at 1.1961 today.

    On the downside, only below 1.1847 sup signals temporary high is in place and risk stronger retracement but sup at 1.1817 should remain intact.

    No key EZ eco. data is sue out but we have EU economic bulletin due to release at 09:00GMT.
     
  7. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 28 Dec 2017 09:30 GMT

    USD/JPY - 112.75
    The greenback's strong rebound from last Friday's low at 112.03 strongly suggests the pullback from last Tuesday's high at 113.75 has ended there and consolidation with upside bias remains for upmove from November's 2-month trough at 110.84 to resume and yield re-test of said resistance, break would extend to 114.00/10 before prospect of a retreat due to near term loss of momentum.

    On the downside, only below 112.83 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 112.51, then 112.03 again.

    Data to be released on Thursday :
    Japan industrial production, retail sales, and U.S. wholesale inventories, initial jobless claims, Chicago PMI.
     
  8. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 29 Dec 2017 06:30 GMT

    EUR/USD - 1.1943
    Yesterday's resumption of recent upmove to a 1-month high at 1.1959 (New York) due to broad-based usd's weakness suggests re-test of November's 2-month peak at 1.1961 would be forthcoming soon, break would encourage for subsequent headway towards 1.2000, however, near term loss of upward momentum should prevent strong gain and res at 1.2034 should cap upside.

    Only below 1.1910 (previous res, now sup) confirms temporary top is in place and risks stronger retracement to 1.1879/81 but reckon sup at 1.1847 should hold from here and yield another leg of upmove next week.

    On the eco. data front, Italy will release PPI and Germany will release important preliminary CPI data at New York open.
     
  9. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Jan 02: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 02 Jan 2018 03:30 GMT

    EUR/USD - 1.2012
    Euro's rally last Friday above November's 2-month top at 1.1961 to as high as 1.2028 (New York) due to broad-based usd's weakness suggests recent upmove would resume after consolidation and yield marginal gain.
    However, loss of near term upward momentum would cap price below 2017 peak at 1.2093 (September).

    On the downside, only below 1.1959/61 (previous res, now sup area) signals temporary top is made and risks stronger retracement towards 1.1937 before prospect of rebound later this week.

    Today is PMI day in the euro zone, Italy will kick off with Markit manufacturing PMI, then the same from France and last but not least, the same from Germany.
     
  10. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 03 Jan 2018 05:30 GMT

    EUR/USD - 1.2055
    Yesterday's impressive rally to a 3-1/2 month high of 1.2082 suggests re-test of 2017 peak at 1.2093 would be forthcoming next, however, near term loss of upward momentum is likely to prevent strong gain and reckon 1.2125/30 would cap present rise and bring a much-needed minor correction.

    On the downside, a daily close below 1.2027 would signal temporary top is in place and may risk stronger retracement, however, 1.1959/61 (previous res, now sup) should contain weakness.

    Data to be released on Wednesday:
    Swiss retail sales, manufacturing PMI, Germany unemployment change, unemployment rate, U.K. Markit construction PMI.
    U.S. MBA mortgage application, redbook, ISM New York index, construction spending, ISM manufacturing PMI, FOMC minutes.
     
  11. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 03 Jan 2018 09:30 GMT

    USD/JPY - 112.36
    Despite dollar's selloff to 112.06 yesterday, subsequent rebound suggests further choppy trading above previous support at 112.03 would continue with upside bias and marginal gain from here is likely to be seen, however, resistance at 112.99 should remain intact and yield retreat later this week. Below 112.03/06 would revive bearishness for stronger weakness towards 111.70/80.

    On the upside, only above 112.99 would indicate a temporary low has been made instead and risk stronger gain to 113.64 but December's peak at 113.75 would remain intact.

    Pay attention to release of Fed minutes later at 19:00GMT, however before that, we have a slew of eco. data starting with U.S. mortgage application, Redbook sales, ISM NY index, construction spending and ISM mfg index.
     
  12. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 04 Jan 2018 06:00 GMT

    EUR/USD - 1.2006
    Although yesterday's decline from 1.2066 (AUS) to as low as 1.2002 in post-FOMC minutes New York session confirms euro's recent strong upmove has made a temporary top at Tuesday's 3-1/2 month peak at 1.2082 and choppy sideways trading would continue ahead of Friday's key U.S. jobs report, reckon 1.1959/61 (previous res, now sup) would contain weakness and bring subsequent rebound.

    On the downside, only a daily close below 1.1959 risks stronger correction to 1.1910/20 before prospect of rebound.

    Euro area countries will release a slew of eco. data starting with Germany's retail sales, France's consumer confidence n CPI, EU CPI and PPI data.
     
  13. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 05 Jan 2018 06:00 GMT

    EUR/USD - 1.2075
    Yesterday's break of Tuesday's 3-1/2 month high at 1.2082 to 1.2089 in New York suggests re-test of 2017 peak at 1.2093 (September) would be forthcoming next where a break there would extend Medium Term uptrend from 1.0541 (2017 low in January) towards projected target 1.2147.
    However, near term loss of upward momentum would prevent strong gain.

    On the downside, below 1.2037 anytime suggests temporary top is in place and may risk retracement towards 1.2002, however, 1.1959/61 (previous res, now sup) should remain intact.

    Euro area countries will release a slew of eco. data stating (pls refer to our EI page for reference).
    However, pay attention to EU CPI n PPI data due out at 10:00GMT, if CPI comes in higher than expectation, euro will head higher.
     
  14. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 08 Jan 2018 07:00 GMT

    EUR/USD - 1.2037
    Euro's intra-day decline from 1.2083 to 1.2021 in post-NFP New York morning on Friday suggests further 'choppy' trading below last Thursday's 3-1/2 month peak at 1.2089 would continue, as long as last week's low at 1.2002 holds, consolidation with upside bias remains but only above 2017 peak at 1.2093 would extend Medium Term uptrend to next projected target at 1.2125 later.

    A daily close below 1.2002 would confirm temporary top is made and risk stronger retracement to 1.1959/61.

    Data to be released today:
    Germany industrial orders, Swiss CPI, U.K. Halifax house price, EU retail sales, business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence on Monday.
     
  15. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Jan 09: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 09 Jan 2018 06:10 GMT

    EUR/USD - 1.1964
    Although yesterday's selloff below last week's low at 1.2002 to 1.1956 in New York suggests recent strong upmove has made a temporary top at last Thursday's 3-1/2 month peak at 1.2089 and consolidation with downside bias remains for further weakness, near term loss of downward momentum should keep price above 1.1902 (previous res, now sup) and bring rebound later today or tomorrow.

    On the upside, a daily close above 1.2021 signals said correction has possibly ended and yields gain towards 1.2052.

    Euro area countries will release a slew of eco. data starting with German ind. production n trade data, then France's trade data, Italy's n EU's unemployment.
     
  16. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 10 Jan 2018 05:30 GMT

    EUR/USD - 1.1943
    Euro's decline on Tue from 1.1976 (Asia) to 1.1916 in New York due to broad-based selling of the euro as well as usd's strength on soaring U.S. yields confirms recent upmove has made a top at last Thursday's 3-1/2 month high at 1.2089 n as long as 1.1976 holds, downside bias remains for marginal weakness, however, loss of momentum should keep price above 1.1885.

    On the upside, a daily close above 1.1976 needed to signal said decline has made a temporary low and outlook would turn bullish for subsequent headway towards 1.2021.

    Eco. data in the euro area is very light with France's industrial production being the only data due out, so funds flow will have a greater influence on intra-day price swings during European trading.
     
  17. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 10 Jan 2018 09:30 GMT

    USD/JPY - 111.91
    The greenback's selloff to 112.37 yesterday and then intra-day fall below this support and previous low at 112.03 signals erratic decline from December's peak at 113.75 has finally resumed and further weakness towards 111.65/70 would be seen after consolidation.
    However, loss of momentum would keep price above 111.41 and yield a much-needed correction later this week.

    On the upside, only above 113.39 would revive bullishness for gain towards 113.64 but resistance at 113.75 should hold on first testing and yield retreat.

    Data to be released on Wednesday:
    Australia NAB business conditions, China PPI, CPI.
    France industrial output, Italy industrial output, U.K. construction output, industrial output, manufacturing output, trade balance, NIESR GDP estimate.
    U.S. MBA mortgage application, import prices, export prices, wholesale inventories, wholesale sales, Canada building permits
     
  18. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 11 Jan 2018 05:30 GMT

    EUR/USD - 1.1960
    Although yesterday's intra-day jump to 1.2018 in hectic European morning on media report China may slow or halt its purchase of U.S. Treasuries suggests correction from last Thursday's 3-1/2 month peak at 1.2089 has possibly ended at 1.1916 (Tuesday), subsequent strong retreat should bring choppy sideways swings.

    Above 1.2018 would encourage for further headway towards 1.2052 whilst below 1.1916 may risk one more fall, however, 'loss of downward momentum' would keep price above 1.1885.

    Data to be released on Thursday:
    Australia retial sales, Japan conincident indicator, leading indicator.
    Italy CPI, CPI (EU NORM), EU industrial production, U.S. initial jobless claims, PPI, core PPI, Canada new house price index
     
  19. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 12 Jan 2018 06:00 GMT

    EUR/USD - 1.2063
    Yesterday's impressive rally from 1.1930 and then break of Wed's 1.2018 high to 1.2059 (NY) after hawkish ECB minutes suggests correction from last Thur's 3-1/2 month top at 1.2089 has ended at 1.1916 (Tue) and euro is en route to 2017 peak at 1.2093, break there would encourage for further headway twd next projected target at 1.2145.

    On the downside, only a daily close below 1.2000 'prolongs' choppy sideways swings but 1.1930/40 should remain intact.

    Although euro area countries will release some eco. data during European morning, the main focus is U.S. inflation data n retail sales, so stay tuned to these numbers when they come out at 13:30GMT.
     
  20. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 15 Jan 2018 06:00 GMT

    EUR/USD - 1.2202
    Friday's spectacular rally above 2017 high at 1.2093 (now sup) to a 3-year peak of 1.2218 near NY close suggests euro's uptrend would resume after minor consolidation, however, overbought condition is likely to prevent strong gain and reckon projected res at 1.2275/80 may hod on 1st testing and yield a much-needed modest retracement later today in holiday-thinned N. American session or tomorrow.

    On the downside, only below 1.2150/60 may risk stronger pullback to 1.2132/37 before prospect of another rise later this week.

    With U.S. financial markets closed for a holiday n the only eco. data fm the euro area countries is EI trade balance, funds flow will have a great influence on intra-day price swings.
     

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