AceTraderFx : Daily Recommendations on Majors

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

DAILY MARKET OUTLOOK
Update Time: 10 Dec 2015 08:13 GMT

USD/JPY - 121.70
The greenback's selloff below last week's low at 122.30 to as low as 121.07 yesterday on dollar's broad-based weakness post the release of downbeat U.S. wholesale inventories data signals the decline from November's 12-week peak at 123.77 has resumed and consolidation with downside bias remains for weakness towards 120.80/90.
However, loss of momentum should keep price above 120.57 this week and yield rebound later.

On the upside, only above 122.30 (previous support, now resistance) would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain to 122.72.

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

DAILY MARKET OUTLOOK
Update Time: 11 Dec 2015 08:10 GMT
USD/JPY - 121.82

The greenback's selloff below last week's low at 122.30 to as low as 121.07 on Wednesday on dollar's broad-based weakness post the release of downbeat U.S. wholesale inventories data signals the decline from November's 12-week peak at 123.77 has resumed and consolidation with downside bias remains for weakness towards 120.80/90, however, loss of momentum should keep price above 120.57 this week and yield rebound later.

On the upside, only above 122.30 (previous support, now resistance) would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain to 122.72.

AceTraderFx Dec 14: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 14 Dec 2015 03:03 GMT

EUR/USD - 1.0981
The single currency's rise above previous high at 1.0981 to 1.1043 last Wednesday on dollar's broad-based weakness signals upmove from last December'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.

AceTraderFx Dec 14: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 14 Dec 2015 08:14 GMT

USD/JPY - 121.25
The greenback's selloff below last Wednesday's low at 121.07 to as low as 120.58 on Friday on dollar's broad-based weakness, due partly to the selloff in global equities signals the decline from November's 12-week peak at 123.77 has resumed and consolidation with downside bias remains for weakness towards 120.20/30.
However, loss of momentum should keep price above 120.02 this week and yield rebound later.

On the upside, only above 121.87 would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain to 122.30 (previous support, now resistance).

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

DAILY MARKET OUTLOOK
Update Time: 15 Dec 2015 02:05 GMT

EUR/USD - 1.0997
The single currency's rise above previous high at 1.0981 to 1.1043 last Wednesday on dollar's broad-based weakness signals upmove from last December'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.

AceTraderFx Dec 15: Daily Recommendations on Major -USD/JPY
Update Time: 15 Dec 2015 08:18 GMT

USD/JPY - 120.67
The greenback's selloff below last Wednesday's low at 121.07 to as low as 120.58 on Friday on dollar's broad-based weakness, due partly to the selloff in global equities signals the decline from November's 12-week peak at 123.77 has resumed and consolidation with downside bias remains for weakness towards 120.20/30.
However, loss of momentum should keep price above 120.02 this week and yield rebound later.

On the upside, only above 121.87 would indicate aforesaid correction has ended instead and turn outlook bullish for stronger gain to 122.30 (previous support, now resistance).

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

DAILY MARKET OUTLOOK
Update Time: 16 Dec 2015 08:12 GMT

USD/JPY - 121.94
Despite the greenback's selloff to 120.35 on Monday, subsequent rebound on increasing speculation that the Federal Reserve will hike its rate later today suggests the corrective fall from November's 12-week peak at 123.77 has ended there and consolidation with upside bias would be seen for gain towards 122.26/30.
However, near term loss of momentum should keep price below 122.46/50, yield retreat.

On the downside, only below 121.07 would indicate aforesaid recovery has ended and turn outlook bearish for weakness to 120.58.

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

DAILY MARKET OUTLOOK
Update Time: 17 Dec 2015 02:03 GMT

EUR/USD - 1.0875
Despite a brief spike down to 1.0888 after the Federal Reserve hiked its interest rate by 25 bps for the first time in nearly a decade, the single currency rose to 1.1012.
However, euro's selloff again in volatile trading to 1.0866 in Australia today suggests the corrective decline from Tuesday's high at 1.1060 has resumed and consolidation with downside bias would be seen for further weakness towards 1.0830 before prospect of a recovery.

On the upside, only above 1.0959 would indicate the 1st leg of correction is over and turn outlook bullish for gain towards 1.1012 but aforesaid high should hold on 1st testing.

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

DAILY MARKET OUTLOOK
DAILY MARKET OUTLOOK
Update Time: 17 Dec 2015 08:51 GMT

USD/JPY - 122.41
Despite a brief retreat to 121.38 after the Federal Reserve hiked its interest rate by 25 basis points, subsequent rally to 122.64 today suggests recent upmove from Monday's low at 120.35 has resumed and consolidation with upside bias would be seen for gain towards 122.70/80, then to 123.09/10.
However, near term loss of momentum would keep price below 123.48 and yield correction later today or tomorrow.

On the downside, only below indicated support at 121.38 would confirm a temporary top has been made and turn outlook bearish for a stronger retracement to 121.18.

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

DAILY MARKET OUTLOOK
Update Time: 18 Dec 2015 03:09 GMT

EUR/USD - 1.0837
Despite a brief spike down to 1.0888 after the Federal Reserve hiked its interest rate by 25 bps for the first time in nearly a decade, the single currency rose to 1.1012.
However, euro's selloff again in volatile trading to 1.0803 in New York yesterday suggests the corrective decline from Tuesday's high at 1.1060 has resumed and consolidation with downside bias would be seen for further weakness towards 1.0780/90 before prospect of a recovery.

On the upside, only above 1.0959 would indicate the 1st leg of correction is over and turn outlook bullish for gain towards 1.1012 but aforesaid high should hold on 1st testing.

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

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DAILY MARKET OUTLOOK
Update Time: 21 Dec 2015 08:40 GMT

USD/JPY - 121.41
Although last Friday's intra-day selloff from a 4-week high of 123.59 (Reuters) after BOJ's extension of the maturity of its bond-purchase programme suggests choppy trading below November's peak at 123.77 would continue, intra-day cross- inspired rebound from 121.04 signals consolidation is in store with near term upside bias before prospect of another fall later today or tomorrow twd 120.75/85 but December's low at 120.35 would remain intact.

On the upside, only above 121.90/00 suggests a temporary low is made and may risk stronger gain twd 122.35/45 before another fall.

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

DAILY MARKET OUTLOOK
Update Time: 22 Dec 2015 07:45 GMT

USD/JPY - 121.17
Although dollar's rebound from yesterday's 120.84 low made in New York following downbeat U.S. data suggests early selloff from last Friday's 4-week peak at 123.59 has made a temporary low and consolidation with mild upside bias is seen ahead of release of key U.S. GDP data later today, reckon 121.76 would cap dollar's upside and yield marginal weakness, loss of momentum should keep price above last week's bottom at 120.35 and bring stronger correction later this week.

On the upside, only above said res at 121.76 may risk stronger gain to 122.25/35, however, reckon 122.54 (61.8% r of 123.59-120.84) should cap rebound and yield subsequent decline.

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

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DAILY MARKET OUTLOOK
Update Time: 23 Dec 2015 01:31 GMT

EUR/USD - 1.0951
Euro's intra-day rally above Monday's 1.0939 high in Europe on Monday and later to session highs of 1.0984 in New York after downbeat U.S. data has justified our recent bullish bias as the early rise from last week's low at 1.0802 suggests correction from 1.1060 has ended there and consolidation with mild upside bias remains for subsequent headway towards 1.1013.

Therefore, buying euro on dips is recommended and only below yesterday's low at 1.0903 would dampen bullish scenario, risks weakness to 1.0848/53.

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

DAILY MARKET OUTLOOK
Update Time: 23 Dec 2015 08:00 GMT

USD/JPY - 120.95
Despite yesterday's resumption of decline from last Fri's 4-week peak at 123.59 to 120.72 due to downbeat U.S. data, subsequent minor rebound suggests consolidation is likely to be in store ahead of release of U.S. data later, as long as 121.50/51 res holds, marginal weakness is still envisaged, however, near term loss of downward momentum should keep dlr above Dec's bottom at 120.35 and risk has increased for a stronger retracement to take place tomorrow.

On the upside, a daily close above 121.51 would bring stronger gain to 121.76/80, however, 122.11/16 should remain intact.

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

DAILY MARKET OUTLOOK
Update Time: 28 Dec 2015 01:04 GMT

EUR/USD - 1.0972
Euro's intra-day firmness in holiday-thinned Asian trading Monday suggests re-test of last week's high at 1.0894 (Tuesday) would be forthcoming soon where a break there would signal the correction from December's 6-week peak at 1.1060 has ended earlier at 1.0870 (Wednesday), then further gain towards 1.1013 would follow later today or tomorrow.

On the downside, only below 1.0924 (previous minor res, now sup) would 'prolong' choppy trading and may risk weakness to 1.0903, however, reckon 1.0870 sup should remain intact.

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

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DAILY MARKET OUTLOOK
Update Time: 29 Dec 2015 03:07 GMT

EUR/USD - 1.0982
Yesterday's brief break of last week's 1.0984 high to 1.0993 suggests euro's correction from Dec's 6-week peak at 1.1060 has ended earlier at 1.0802 and consolidation with upside bias remains for further gain to 1.1013, however, near term loss of momentum should cap price below 1.1060.

On the downside, only below previous sup area at 1.0932/42 would abort present bullish view and may risk weakness to 1.0870 later.

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

DAILY MARKET OUTLOOK
Update Time: 30 Dec 2015 02:00 GMT

EUR/USD - 1.0924
Yesterday's selloff from 1.0992 (Europe) to as low as 1.0899 in NY session confirms euro's early erratic rise from 1.0802 has made a top at 1.0993 on Mon and consolidation with downside bias remains for a strong retracement of this move and as long as 1.0958/60 (previous sup, now res) holds, downside bias is seen for weakness towards 1.0870, however, near term loss of momentum should keep price above 1.0848/53 today.

On the upside, a daily close above 1.0958 would signal pullback is over, then outlook would turn bullish for re-test of 1.0993 and later towards daily res at 1.1013.

AceTraderFx Dec 30: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 30 Dec 2015 08:46 GMT

USD/JPY - 120.45
Despite dollar's retreat from 120.63 to 120.20 on Monday, subsequent erratic rise to 120.58 today in in Europe today suggests further sideways swings above last Friday's 7-week bottom at 120.05 would continue, as long as 120.72 (previous sup, now res) holds, outlook remains mildly bearish for recent decline to resume to 119.91/96, loss of momentum should keep price above daily sup at 119.62.

A daily close above 119.72 would confirm temporary low has been made and may risk stronger retracement to 121.10/14.

AceTraderFx Dec 31: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 31 Dec 2015 02:41 GMT

EUR/USD - 1.0926
Although yesterday's intra-day price swings suggest further choppy trading above Tuesday's 1.0899 low would continue, as long as 1.0958/60 (previous sup, now res) holds, early decline from 1.0993 (Monday) to retrace upmove from 1.0802 would yield marginal weakness, loss of near term downward momentum should prevent steep fall below sup at 1.0870.

On the upside, above 1.0960 would signal aforesaid pullback from 1.0993 has ended, then risk is seen for another rise to 1.0980/90.

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

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DAILY MARKET OUTLOOK
Update Time: 04 Jan 2016 03:06 GMT

EUR/USD - 1.0868
Despite euro's brief break of last Thursday's 1.0851 low to 1.0827 in Asia today on initial USD's broad-based strength following hawkish comments by U.S. Cleveland Fed President Loretta Mester, intra-day rebound suggests choppy sideways trading is in store, as long as 1.0900/10 holds, near term decline from last week's 1.0993 high may pressure price to 1.0820/25, reckon daily sup at 1.0802 would remain intact.

On the upside, a daily close above 1.0900 signals aforesaid fall from 1.0993 has ended, then further gain to previous res area at 1.0938/44 would be seen.