AceTraderFx : Daily Recommendations on Majors

AceTraderFx Nov 5: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 05 Nov 2015 08:17 GMT

USD/JPY - 121.62
The greenback's rally to 121.72 in New York morning yesterday on upbeat U.S. economic data together with hawkish comments from Fed's Yellen and intra-day breach of this level signals recent erratic upmove has resumed and consolidation with upside bias remains for further gain towards 122.15/20, however, loss of momentum would prevent strong gain above there and yield a much-needed correction later.

On the downside, only a daily close below 121.00 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement to 120.50/60.

AceTraderFx Nov 6: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 06 Nov 2015 02:15 GMT

EUR/USD - 1.0888
Despite the single currency's strong rebound from last Wednesday's low at 1.0896 to as high as 1.1073 last Friday, subsequent sharp selloff and breach of said lower level to 1.0844 yesterday on hawkish comments from Fed's Yellen signals recent erratic decline from 1.1715 has once again resumed and consolidation with downside bias would be seen for weakness towards 1.0808/10.
However, loss of momentum would keep price above 1.0774, yield correction.

On the upside, only above resistance at 1.1030 would indicate the pullback from 1.1073 has ended and turn outlook bullish for a re-test of 1.1073, break, 1.1096.

AceTraderFx Nov 6: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 06 Nov 2015 08:02 GMT

USD/JPY - 121.90
The greenback's rally to 122.01 at New York open yesterday on upbeat U.S. economic data together with hawkish comments from Fed's Yellen and intra-day firmness signals recent erratic upmove has resumed and consolidation with upside bias remains for further gain towards 122.15/20.
However, loss of momentum would prevent strong gain above there and yield a much-needed correction later.

On the downside, only a daily close below 121.00 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement to 120.50/60.

AceTraderFx Nov 9: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 09 Nov 2015 01:14 GMT

EUR/USD - 1.0737
The single currency's selloff to as low as 1.0707 on dollar's broad-based strength on Friday after the release of an upbeat U.S. jobs report signals erratic decline from 1.0715 remains in progress and consolidation with downside bias remains for weakness towards 1.0660/70.
However, over sold condition would keep price well above 1.0620/30 and yield a much-needed correction later this week.

On the upside, only above 1.0834 would be the first signal that a temporary low has been made and turn outlook bullish for a stronger retracement towards 1.0898/00.

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

DAILY MARKET OUTLOOK
Update Time: 10 Nov 2015 01:44 GMT

EUR/USD - 1.0752
The single currency's selloff to as low as 1.0704 (Reuters) on dollar's broad-based strength on Friday after the release of very upbeat U.S. jobs report signals erratic decline from 1.0715 remains in progress and consolidation with downside bias remains for weakness towards 1.0660/70.
However, over sold condition would keep price well above 1.0620/30 and yield a much-needed correction later this week.

On the upside, only above 1.0834 would be the first signal that a temporary low has been made and turn outlook bullish for a stronger retracement towards 1.0898/00.

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

DAILY MARKET OUTLOOK
Update Time: 11 Nov 2015 01:17 GMT

EUR/USD - 1.0739
The single currency's selloff to as low as 1.0704 (Reuters) on dollar's broad-based strength on Friday after the release of very upbeat U.S. jobs report, then lower 1.0674 yesterday signals erratic decline from 1.0715 remains in progress and consolidation with downside bias remains for weakness towards 1.0660/70.
However, over sold condition would keep price well above 1.0620/30 and yield a much-needed correction later this week.

On the upside, only above 1.0834 would be the first signal that a temporary low has been made and turn outlook bullish for a stronger retracement towards 1.0898/00.

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

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DAILY MARKET OUTLOOK
Update Time: 11 Nov 2015 08:48 GMT

USD/JPY - 123.15
The greenback's resumption of recent uptrend to a fresh 10-week peak at 123.61 on Monday on the back of Friday's release of upbeat U.S. jobs report suggests consolidation with upside bias remains for gain towards 123.79/80, then 124.00/01. However, over bought condition would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.

On the downside, only below 122.69 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 122.38/40.

AceTraderFx Nov12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 12 Nov 2015 01:05 GMT

EUR/USD - 1.0768
The single currency's selloff to as low as 1.0704 (Reuters) on dollar's broad-based strength on Friday after the release of very upbeat U.S. jobs report, then lower 1.0674 yesterday signals erratic decline from 1.0715 remains in progress and consolidation with downside bias remains for weakness towards 1.0660/70.
However, over sold condition would keep price well above 1.0620/30 and yield a much-needed correction later this week.

On the upside, only above 1.0834 would be the first signal that a temporary low has been made and turn outlook bullish for a stronger retracement towards 1.0898/00.

AceTraderFx Nov12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 12 Nov 2015 08:31 GMT

USD/JPY - 123.01
The greenback's resumption of recent uptrend to a fresh 10-week peak at 123.61 on Monday on the back of Friday's release of upbeat U.S. jobs report suggests consolidation with upside bias remains for gain towards 123.79/80, then 124.00/01, however, over bought condition would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.

On the downside, only below 122.69 would indicate a temporary top has been made and turn outlook bearish for a stronger retracement towards 122.38/40.

AceTraderFx Nov13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 13 Nov 2015 01:12 GMT

EUR/USD - 1.0800
Despite yesterday's intra-day decline from Asian 1.0780 high to 1.0691 following ECB President Draghi's dovish comments, euro's subsequent rally to as high as 1.0831 in New York session following speeches by 6 Fed officials confirms recent downtrend has made a temporary low at Tuesday's 6-1/2 month trough of 1.0674 and consolidation with upside bias is seen.
As long as 1.0770/80 holds, further gain towards 1.0880/90 is likely before prospect of another fall later today or Monday.

On the downside, only below 1.0734/36 signals correction is possibly over, then risk is seen for subsequent weakness towards 1.0691 but 1.0674 should remain intact.

AceTraderFx Nov13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 13 Nov 2015 09:29 GMT

USD/JPY - 122.77
Although yesterday's intra-day breach of support at 122.74 signals recent uptrend has made a temporary top at Monday's fresh 10-week peak at 123.61 and stronger retracement to 123.30/40 may be seen, reckon 122.00 (previous resistance, now support) would contain weakness and daily bullishness remains for another rise 'later'.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

AceTraderFx Nov16: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 16 Nov 2015 01:06 GMT

EUR/USD - 1.0718
Despite last week's rebound from Tuesday's low at 1.0674 to 1.0831 on Thursday, subsequent retreat and intra-day gap-down open on broad-based risk aversion strongly suggests the correction has ended and consolidation with downside bias remains for erratic decline from 1.1715 to resume and yield re-test of aforesaid low, break would extend towards 1.0650/60 before prospect of a recovery due to loss of momentum.

On the upside, only above 1.0831 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0894/98.

AceTraderFx Nov 16: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 16 Nov 2015 08:00 GMT

USD/JPY - 122.65
Although intra-day breach of Friday's support at 122.74 to 122.24 signals recent uptrend has made a temporary top at Monday's fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise 'later'.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

AceTraderFx Nov 17: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 17 Nov 2015 01:35 GMT

EUR/USD - 1.0682
Despite last week's rebound from Tuesday's low at 1.0674 to 1.0831 on Thursday, subsequent retreat and Monday's intra-day gap-down open on broad-based risk aversion strongly suggests the correction has ended and consolidation with downside bias remains for erratic decline from 1.1715 to resume and yield re-test of aforesaid low, break would extend towards 1.0650/60 before prospect of a recovery due to loss of momentum.

On the upside, only above 1.0831 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0894/98.

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

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DAILY MARKET OUTLOOK
Update Time: 17 Nov 2015 08:30 GMT

USD/JPY - 123.26
Although intra-day breach of Friday's support at 122.74 to 122.21 on Monday signals recent uptrend has made a temporary top at Monday's fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise 'later'.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

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

DAILY MARKET OUTLOOK
Update Time: 18 Nov 2015 01:03 GMT
EUR/USD - 1.0638
Despite last week's rebound from Tuesday's low at 1.0674 to 1.0831 on Thursday, subsequent retreat and breach of aforesaid support signals the erratic decline from 1.1715 has once again resumed and consolidation with downside bias would be seen for weakness towards 1.0600/10, then 1.0585/90, however, loss of momentum would keep price above support at 1.0564 and yield a much-needed correction later.

On the upside, only above 1.0831 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0894/98.

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

DAILY MARKET OUTLOOK
Update Time: 19 Nov 2015 01:14 GMT

EUR/USD - 1.0685
Despite last week's rebound from Tuesday's low at 1.0674 to 1.0831 on Thursday, subsequent retreat and breach of aforesaid support signals the erratic decline from 1.1715 has once again resumed and consolidation with downside bias would be seen for weakness towards 1.0600/10, then 1.0585/90, however, loss of momentum would keep price above support at 1.0564 and yield a much-needed correction later.

On the upside, only above 1.0831 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0894/98.

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

DAILY MARKET OUTLOOK
Update Time: 19 Nov 2015 08:27 GMT

USD/JPY - 123.17
Although intra-day breach of Friday's support at 122.74 to 122.21 on Monday signals recent uptrend has made a temporary top at Monday's fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise 'later'.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.

AceTraderFx Nov 20: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 20 Nov 2015 01:23 GMT

EUR/USD - 1.0710
Despite last week's rebound from Tuesday's low at 1.0674 to 1.0831 on Thursday, subsequent retreat and breach of aforesaid support signals the erratic decline from 1.1715 has once again resumed and consolidation with downside bias would be seen for weakness towards 1.0600/10, then 1.0585/90.
However, loss of momentum would keep price above support at 1.0564 and yield a much-needed correction later.

On the upside, only above 1.0831 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0894/98.

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

DAILY MARKET OUTLOOK
Update Time: 20 Nov 2015 08:20 GMT

USD/JPY - 123.01
Although intra-day breach of Friday's support at 122.74 to 122.21 on Monday signals recent uptrend has made a temporary top at Monday's fresh 10-week peak at 123.61 and stronger retracement to 122.01 (previous resistance, now support) may be seen, reckon 121.74 would contain weakness and daily bullishness remains for another rise 'later'.

Above 123.61 would extend gain to 123.79/80, then 124.00, however, loss of momentum would cap price below 124.63 and yield retreat.