AceTraderFx : Daily Recommendations on Major

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 8: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 08 Apr 2016 04:00 GMT

EUR/USD - 1.1371
Despite euro's brief rise above last Friday's high of 1.1438 to a fresh 5-1/2 month peak at 1.1454 in European morning, subsequent intra-day selloff to 1.1338 in New York morning signals MT uptrend has made a temporary top there and a few days of consolidation with mild downside bias would be seen.
However, reckon 1.1260/70 would hold and yield rebound later.

On the upside, a break of 1.1454 would bring further gain to 1.1495 but loss of momentum should limit upside to 1.1510/20 and yield retreat.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 8: Daily Recommendations on Major -USD/JPY


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DAILY MARKET OUTLOOK
Update Time: 08 Apr 201609:08 GMT

USD/JPY - 108.99
Despite dollar's selloff to a fresh 17-month trough at 107.67 in New York morning yesterday, subsequent rebound to 108.46, then 109.10 in European morning today signals MT downtrend has made a temporary low there and consolidation with upside bias would be seen.
However, reckon 109.50/60 would limit upside and yield another selloff later today or early next week.

On the downside, below 108.07 support would confirm correction over and bring re-test of 107.67, break would extend weakness towards 107.10/20.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 11: Daily Recommendations on Major -EUR/USD


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DAILY MARKET OUTLOOK
Update Time: 11 Apr 2016 05:09 GMT

EUR/USD - 1.1407
Despite euro's rebound after last Thursday's intra-day strong retreat from a fresh 5-1/2 month peak at 1.1454 to 1.1338, as this move signals MT uptrend has made a temporary top there, choppy trading with mild downside bias remains, below said support would bring another leg of correction towards 1.1282/83 but reckon 1.1220/25 would contain weakness, bring rebound.

On the upside, above 1.1454 would yield another upmove to 1.1470/80 but 'loss of momentum' should cap price below 1.1495 (2015 October 15 high) and yield correction later.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 11: Daily Recommendations on Major -USD/JPY


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DAILY MARKET OUTLOOK
Update Time: 11 Apr 2016 09:03 GMT

USD/JPY - 108.16
Despite dollar's selloff to a fresh 17-month trough at 107.63 in Asian morning today, subsequent rebound in European morning suggests MT downtrend has made a temporary low there and consolidation would be seen, however, reckon 109.10 would cap upside and yield another selloff later this week.

On the downside, below 107.63 yield further weakness towards 107.20/30 before correction occurs due to loss of momentum.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 12: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 12 Apr 2016 05:00GMT

EUR/USD - 1.1410
Euro's rebound after last Thursday's intra-day strong retreat from a fresh 5-1/2 month peak at 1.1454 to 1.1338 suggests mild upside bias remains for MT uptrend to resume after consolidation.
However, 'loss of momentum' should prevent strong gain above said high and reckon price would falter well below 1.1495 (2015 Oct 15 high) and yield correction later.

On the downside, only below 1.1338 would confirm a temporary top has been made and bring another leg of correction towards 1.1282/83 and then possibly towards 1.1220/25 before prospect of a rebound.
On the upside, above 1.1454 would yield another upmove to 1.1470/80 but 'loss of momentum' should cap price below and yield correction later.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com

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


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DAILY MARKET OUTLOOK
Update Time: 12 Apr 2016 08:23 GMT

USD/JPY - 108.18
Despite dollar's selloff to a fresh 17-month trough at 107.63 in Asian session on Monday, subsequent intra-day rebound to 108.44 in New York morning suggests MT downtrend has possibly made a temporary bottom there and a few days of choppy sideways trading would be seen.
However, as long as resistance at 109.10 holds, bearishness remains for another selloff later this week.

On the downside, below 107.63 would yield further weakness towards 107.20/30 before correction occurs due to loss of momentum.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 13: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 13 Apr 2016 03:03 GMT

EUR/USD - 1.1370
Despite euro's brief rally above last week's top at 1.1454 to a fresh 5-1/2 month peak at 1.1465 in Europe on Tuesday, subsequent intra-day sharp selloff to 1.1336 in New York morning on long-liquidation suggests a temporary top has been made and consolidation with downside bias is seen, however, reckon support at 1.1283 would hold and yield rebound later.

On the upside, only a firm breach of 1.1465 would indicate MT uptrend has resumed and extend gain to 1.1495 and then 1.1512 before correction occurs.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 13: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 13 Apr 2016 08:04GMT

USD/JPY - 108.90
Although dollar's rebound from Monday's fresh 17-month trough at 107.63 and then intra-day breach of 108.44 (yesterday's high in New York) signals Medium Term downtrend has made a temporary bottom there, as long as resistance at 109.10 holds, bearishness remains for another selloff later today or tomorrow.

On the downside, 108.44 would indicate a top has been made and yield weakness to 108.12, break would confirm correction over and bring re-test of 107.63, then towards 107.20/30.
Only above 109.10 would dampen bearishness and risk stronger correction towards 109.34 and possibly towards 109.91/92.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 13: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 14 Apr 2016 04:09 GMT

EUR/USD - 1.1263
Euro's selloff below support at 1.1346 yesterday confirms recent uptrend has made a temporary top at Tuesday's fresh 5-1/2 month peak at 1.1465 and consolidation with downside bias remains.
However, near term o/sold condition may limit weakness to 1.1220 today and yield rebound later.

On the upside, only a daily close above 1.1346 would indicate a low has been made and yield subsequent gain towards 1.1401.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 14: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 14 Apr 2016 08:18 GMT

USD/JPY - 109.20
Dollar's rally from Monday's fresh 17-month trough at 107.63 to as high as 109.41 in yesterday New York, then 109.55 in today's Asian morning signals MT downtrend has made a temporary bottom there and as long as 108.75/79 holds, stronger retracement towards 109.60/70 would be seen, however, 'loss of momentum' should cap price below 109.92 (previous support, now resistance) and yield another fall later.

On the downside, only a daily close below 108.44 would indicate correction over and yield weakness to 108.12, break would bring re-test of 107.63.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 18: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 18 Apr 2016 04:02 GMT

EUR/USD - 1.1294
Euro's selloff from last Tuesday's fresh 5-1/2 month peak at 1.1465 to as low as 1.1234 on Thursday signals Medium Term uptrend from 1.0523 (Dec 2015) has made a temporary top there and despite subsequent recovery to 1.1317 on Friday, as long as 1.1346 (previous support, now resistance) holds, choppy trading with downside bias remains.
However, reckon 1.1144 would contain weakness and yield rebound 'later'.

On the upside, only a daily close above 1.1346 would indicate 1st leg of correction over and yield gain towards 1.1401 before down.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 18: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 18 Apr 2016 08:28 GMT

USD/JPY - 108.23
Although Friday's selloff from 109.74 to 108.60 and then intra-day gap-down open to 107.75 (Reuters) in New Zealand signals recovery from last Monday's 17-month trough at 107.63 has ended, subsequent intra-day recovery suggests choppy sideways trading would be seen for Medium Term downtrend resumes to next downside objective 106.98.

On the upside, a daily close above 108.60 (previous support, now resistance) would prolong choppy trading but reckon price should falter well below 109.74 another decline.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 19: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 19 Apr 2016 05:01 GMT

EUR/USD - 1.1322
Yesterday's rise from 1.1274 to 1.1332 in New York confirms euro's decline from last Tuesday's 5-1/2 month peak at 1.1465 has indeed made a low at 1.1234 (Thursday) and as long as said Mon's low holds, consolidation with mild upside bias still remains for gain toward 1.1346, however, reckon 1.1377 (61.8% r of 1.1465-1.1334) would cap upside and yield another fall later this week.

On the downside, a firm break of 1.1272/74 any time signal correction is over and brings weakness toward 1.1234.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 19: Daily Recommendations on Major -USD/JPY


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DAILY MARKET OUTLOOK
Update Time: 19 Apr 2016 09:37GMT USD/JPY - 109.13

Despite yesterday's initial selloff to 107.84 due to yen-buying on risk aversion following sharp fall in oil prices, subsequent rally to 108.99 in New York following strong rebound in oil prices together with gain in global stocks, then today's follow-through gain to 109.22 in Asia suggests further volatile trading above last Monday's fresh 17-month bottom at 107.63 would continue with near term upside bias, above 109.74 is needed to bring stronger retracement of medium-term downtrend to 109.90/00 later.

On the downside, below 108.46/50 would be 1st signal said Monday's rise from 107.84 has ended and yield weakness to 108.12/15.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 20: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 20 Apr 2016 04:07GMT

EUR/USD - 1.1358
Yesterday's rise from 1.1303 to 1.1385 in New York suggests euro's decline from last Tuesday's 5-1/2 month peak at 1.1465 has ended at 1.1234 (Thur) and as long as said Tuesday's low holds, consolidation with mild upside bias still remains for gain towards 1.1438, break would yield resumption of MT uptrend to re-test 1.1465, then towards 1.1512 'later'.

On the downside, only a firm break below 1.1272/74 would signal correction is over instead and bring weakness towards 1.1234.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com

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


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DAILY MARKET OUTLOOK
Update Time: 21 Apr 2016
01:48GMT

EUR/USD - 1.1298
Yesterday's intra-day selloff after a brief rise above Tuesday's 1.1385 high to 1.1388 at New York open suggests correction from last Thursday's 2-week trough at 1.1234 has ended there and consolidation with downside bias would be seen.
However, break of said support needed to confirm erratic decline from last Tuesday's 5-1/2 month peak at 1.1465 has resumed and extend weakness towards 1.1114.

On the upside, a move back above 1.1388 would encourage a subsequent re-test of 1.1465 and break would extend MT uptrend towards 1.1512 'later'.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 21: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 21 Apr 2016 09:06 GMT

USD/JPY - 109.75
Yesterday's rally above last week's 109.74 high after mildly upbeat U.S. data and then intra-day gain to 109.90 in Asia suggests dollar's corrective rise from last Mon's fresh 17-month trough at 107.63 would yield marginal gain to 110.15/25 after consolidation, however, loss of momentum should prevent strong gain today and reckon 110.67 (Mar's low, now res) should remain intact and bring subsequent strong retreat.

On the downside, a daily close below 109.49 would be the 1st signal aforesaid upmove has made a temporary top and risk stronger retracement to 109.12/15, then towards 108.77.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx April 22: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 22 Apr 2016 05:00 GMT

EUR/USD - 1.1298
Eruo's selloff after a brief rally to 1.1398 to as low as 1.1270 in New York session on dovish remarks from ECB's President Mario Draghi signals further choppy trading below last Tuesday's 5-1/2 month peak at 1.1465 would continue with downside bias but only below 1.1234 (reaction low on last Thursday) would indicate MT uptrend is still being retraced and yield further weakness to 1.12113 and then 1.1167 later.

On the upside, a move back above 1.1398 would encourage a subsequent re-test of 1.1465 and break would yield further headway towards 1.1512.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 25: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 25 Apr 2016 03:01 GMT

EUR/USD - 1.1230
Eruo's breach of previous week's low at 1.1234 to 1.1218 in New York and then marginal weakness to 1.1216 ahead of Asian open today signals erratic decline from April's 5-1/2 month peak at 1.1465 to retrace Medium Term uptrend has resumed and further weakness to next daily chart objective at 1.1144 is seen later this week.

On the upside, only a move back above 1.1309/10 would indicate a temporary low has bee made but resistance at 1.1399 (last Thursday's high) would cap upside.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Apr 25: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 25 Apr 2016 09:13 GMT

USD/JPY - 111.14
Although dollar has extended erratic upmove from April's 17-month trough at 107.63 to 111.91 ahead of Asian open, subsequent intra-day cross-inspired retreat to 111.03 in Asia suggests a temporary top has been made and choppy consolidation would be seen, however, reckon 110.74 (previous resistance, now support) would hold and yield rebound later.

On the upside, above 111.91 would bring resumption of aforesaid rise to retrace Medium Term downtrend to 112.10/20 and then 112.50/60 later.
Only a daily close below 110.74 aborts and risks correction towards 110.28.