AceTraderFx : Daily Recommendations on Majors

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

DAILY MARKET OUTLOOK
Update Time: 23 Nov 2015 01:50 GMT

EUR/USD - 1.0630
Despite last week's rebound from Wednesday's low at 1.0617 to 1.0763 on Thursday, subsequent strong retreat retreat suggests consolidation with downside bias remains for erratic decline from 1.1715 to resume and yield re-test of said support, break would extend to 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 1.0763 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0831.

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

DAILY MARKET OUTLOOK
Update Time: 23 Nov 2015 08:36 GMT

USD/JPY - 123.11
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 24 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 24 Nov 2015 01:47 GMT

EUR/USD - 1.0642
Despite last week's rebound from Wednesday's low at 1.0617 to 1.0763 on Thursday, subsequent strong retreat retreat suggests consolidation with downside bias remains for erratic decline from 1.1715 to resume and yield re-test of said support, break would extend to 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 1.0763 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0831.

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

DAILY MARKET OUTLOOK
Update Time: 24 Nov 2015 08:41 GMT

USD/JPY - 122.55
Despite last week's rally from Monday's low at 122.22 to a fresh 12-week peak at 123.77 on Wednesday, subsequent retreat to 122.62 last Thursday and intra-day breach of this level confirms a temporary top has been made there and consolidation with downside bias would be seen for weakness towards 122.38/40, then to 122.21.

However, loss of momentum should keep price above 121.90/00 and yield recovery.

AceTraderFx Nov 25 Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 25 Nov 2015 01:21 GMT

EUR/USD - 1.0655
Euro finally gained respite on Tuesday and ratcheted higher to 1.0673 in New York session due to broad-based short covering in euro before briefly retreating to 1.0628 following upbeat Q3 U.S. GDP data.

Another day of consolidation is expected after hitting a fresh 7-month bottom at 1.0592 on Monday n as long as 1.0600/10 holds, consolidation with upside bias remains for another corrective rise toward 1.0700/08 before prospect of a decline later this week. But below 1.0592 needed to yield marginal weakness toward projected target at 1.0565/70.

AceTraderFx Nov 26 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 26 Nov 2015 01:14 GMT

EUR/USD - 1.0618
Despite yesterday's selloff from 1.0689 in Europe on Reuters report the ECB is mulling more stimulus measures at its next monetary meeting and then intra-day weakness to a fresh 7-month bottom of 1.0565 in NY morning, subsequent short- covering rally to 1.0642 suggests a temporary low has been made and choppy consolidation is envisaged.

As long as 1.0592 (previous low) holds, marginal gain above 1.0642 is likely, however, only a daily close above 1.0689 confirms long-awaited correction has occured and yields gain to 1.0730/40. Below 1.0565 would risk marginal weakness but loss of momentum should keep price well above daily chart sup at 1.0521 today.

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

DAILY MARKET OUTLOOK
Update Time: 30 Nov 2015 01:08 GMT

EUR/USD - 1.0577
Despite euro's intra-day decline from 1.0638 to 1.0569 on Friday, subsequent short-covering rebound in New York afternoon suggests further choppy trading above last Wed's fresh 7-month trough at 1.0569 would continue before recent downtrend resumes, break of said last week's low would extend weakness to 1.0540/50, loss of momentum should keep price above daily sup at 1.0521 today.

On the upside, only above 1.0638/42 res would prolong near term sideways swings and risk stronger retracement to 1.0689 before prospect of another decline.

ceTraderFx Nov 30: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 30 Nov 2015 08:20 GMT

USD/JPY - 122.82
Friday's intra-day rebound from 122.30 to 122.88 (New York) has retained our previous view that dollar's early decline from November's 12-week peak at 123.77 has ended last week at 122.26 and consolidation with upside bias is seen, above 122.94/96 would encourage for subsequent headway towards 123.26.

On the downside, only break of 122.21/26 sup would risk stronger retracement of recent upmove to 122.01.
However, reckon 121.74 (previous res, now sup) would contain weakness.

AceTraderFx Dec 1: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 01 Dec 2015 01:17 GMT

EUR/USD - 1.0568
Yesterday's marginal weakness below last Wednesday's 7-month trough of 1.0565 to 1.0558 in New York suggests euro's medium-term downtrend would resume after consolidation and reckon 1.0595/05 res area would hold and yield one more fall.
However, near term loss of momentum should keep price above daily sup at 1.0521 today and bring a long-overdue correction later.

On the upside, a daily close above 1.0605 would be the 1st signal temporary low is in place, then euro would move higher to 1.0638/42 but last week's high at 1.0689 (Wed) should cap upside.

AceTraderFx Dec 1: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 01 Dec 2015 08:22 GMT

USD/JPY - 122.87
Despite yesterday's cross-inspired break of 122.94 res to 123.34 in New York, intra-day sharp retreat to 122.64 due to broad-based long liquidation is the usd in Asian morning suggests further 'choppy' trading below Nov's 12-week peak at 123.77 would continue with near term downside bias, only below 122.21/26 sup would bring stronger retracement of early upmove to 122.00/01.

On the upside, above 123.34 is needed to revive previous bullish scenario on dollar for subsequent re-test of 123.77.

AceTraderFx Dec 2: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 02 Dec 2015 08:38 GMT

USD/JPY - 123.11
Yesterday's intra-day decline from 123.28 to 122.64 in Asia and then subsequent choppy swings in New York session suggests further volatile trading below Mon's high at 123.34 would continue.
Below 122.64 would bring stronger retracement to 122.45/50 but previous sup at 122.21/26 is expected to hold and bring another rebound.

A firm break of 123.34 would encourage for re-test of November's 12-week peak at 123.77.
However, loss of momentum should cap dollar below 124.00/10 and risk has increased for a correction to occur later.

AceTraderFx Dec 3: Daily Recommendations on Major -EUR/USD

Update Time: 03 Dec 2015 02:32 GMT
EUR/USD - 1.0597

Despite euro's intra-day selloff in New York session on upbeat U.S. data and then marginal break of Monday's 1.0558 low to a fresh 7-1/2 month trough of 1.0550 following hawkish comments by Fed Chair Janet Yellen.
Subsequent swift rebound on short covering to 1.0627 suggests a temporary bottom has possibly been made and choppy consolidation is expected ahead of ECB monetary policy meeting.

Above res at 1.0637/42 would bring stronger retracement of recent downtrend to 1.0689 whilst below 1.0550 yields weakness towards next daily chart sup at 1.0521 before prospect of a much-needed correction

AceTraderFx Dec 4: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 04 Dec 2015 01:49 GMT

EUR/USD - 1.0909
Euro's spectacular 3.45% rally from yesterday's fresh 7-1/2 month bottom of 1.0523 to as high as 1.0981 near New York close confirms recent downtrend has indeed formed a low there and 'choppy' trading is seen ahead of release of key U.S. jobs report later today.

As long as 1.0848/53 holds, outlook remains supportive for further gain towards next daily chart objective at 1.1073.
A daily close below said sup area would suggest 1st leg of correction is over, then risk of a stronger retracement towards 1.0752 50% r) can't be ruled out before prospect of another rise next week.

AceTraderFx Dec 7: Daily Recommendations on Major -EUR/USD

​ DAILY MARKET OUTLOOK
Update Time: 07 Dec 2015 03:00 GMT

EUR/USD - 1.0859
Although price has retreated after last week's spectacular 3.45% rally from Wednesday's fresh 7-1/2 month bottom of 1.0523 to as high as 1.0981 Friday and further choppy trading would be seen, as said move confirms recent downtrend has indeed formed a low there, upside bias remains for a re-test of said resistance, break would extend towards 1.1000/10 before prospect of correction.

On the downside, a daily close below support area at 1.0770/80 would suggest 1st leg of correction is over, then risk of a stronger retracement twd 1.0752 50% r) can't be ruled out before prospect of another rise next week.

AceTraderFx Dec 7: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 07 Dec 2015 08:22 GMT

USD/JPY - 123.35
Despite the greenback's strong retreat from 123.68 (Wed) to 122.30 last Thursday, subsequent rebound on the release of upbeat U.S. jobs report suggests consolidation with upside bias remains and above 123.68 would yield a re-test of November's fresh 12-year peak at 123.77, break would extend towards 124.00/10 before prospect of a much-needed correction due to loss of momentum.

On the downside, only below 122.64 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 122.30.

AceTraderFx Dec 8: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 08 Dec 2015 03:01 GMT

EUR/USD - 1.0851
Although price has retreated after last week's spectacular 3.45% rally from Thursday's fresh 7-1/2 month bottom of 1.0523 to as high as 1.0981 and further choppy trading would be seen, as said move confirms recent downtrend has indeed formed a low there, upside bias remains for a re-test of said resistance, break would extend towards 1.1000/10 before prospect of correction.

On the downside, a daily close below support area at 1.0770/80 would suggest 1st leg of correction is over, then risk of a stronger retracement towards 1.0752 50% can't be ruled out before prospect of another rise next week.

AceTraderFx Dec 8: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 08 Dec 2015 08:16 GMT

USD/JPY - 123.05
Despite the greenback's strong retreat from 123.68 (Wednesday) to 122.30 last Thursday, subsequent rebound on the release of upbeat U.S. jobs report.
It suggests consolidation with upside bias remains and above 123.68 would yield a re-test of November's fresh 12-year peak at 123.77, break would extend towards 124.00/10 before prospect of a much-needed correction due to loss of momentum.

On the downside, only below 122.64 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 122.30.

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

DAILY MARKET OUTLOOK
Update Time:09 Dec 2015 01:11 GMT

EUR/USD - 1.0883
Although price has retreated after last week's spectacular 3.45% rally from Thursday's fresh 7-1/2 month bottom of 1.0523 to as high as 1.0981 and further choppy trading would be seen, as said move confirms recent downtrend has indeed formed a low there, upside bias remains for a re-test of said resistance, break would extend towards 1.1000/10 before prospect of correction.

On the downside, a daily close below support area at 1.0770/80 would suggest 1st leg of correction is over, then risk of a stronger retracement towards 1.0752 50% r can't be ruled out before prospect of another rise next week.

AceTraderFx Dec 9: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 09 Dec 2015 08:26 GMT

USD/JPY - 122.83
Despite the greenback's strong retreat from 123.68 (Wednesday) to 122.30 last Thursday, subsequent rebound on the release of upbeat U.S. jobs report suggests consolidation with upside bias remains and above 123.68 would yield a re-test of November's fresh 12-year peak at 123.77, break would extend towards 124.00/10 before prospect of a much-needed correction due to loss of momentum.

On the downside, only below 122.64 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness towards 122.30.

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

DAILY MARKET OUTLOOK
Update Time: 10 Dec 2015 01:06 GMT

EUR/USD - 1.1017
The single currency's rise above previous high at 1.0981 to 1.1043 yesterday on dollar's broad-based weakness signals upmove from last Thursday's fresh 7-1/2 month trough at 1.0523 has resumed and consolidation with upside bias would be seen for gain towards 1.1070/80.
However, loss of momentum would prevent strong gain above there and reckon resistance at 1.1119 would remain intact and yield retreat.

On the downside, a daily close below support area at 1.0770/80 would suggest 1st leg of correction is over, then risk of a stronger retracement towards 1.0752 50% r) can't be ruled out before prospect of another rise next week.