AceTraderFx : Daily Recommendations on Majors

AceTraderFx Feb 26: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 26 Feb 2016 08:32 GMT

USD/JPY - 112.86
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 113.39/40 is likely to be seen.
However, as broad outlook remains consolidative, reckon resistance at 113.95 should remain intact and bring another fall later today or early tomorrow.

On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.

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

DAILY MARKET OUTLOOK
Update Time: 29 Feb 2016 04:35 GMT

EUR/USD - 1.0925
Euro's intra-day selloff in New York session on Friday after release of a slew of upbeat U.S. economic data and subsequent breach of 1.0957 sup (now res) to a fresh 3-week trough of 1.0911/12.
This suggests recent decline from February's 1.1377 peak to retrace medium-term upmove from 1.0523 (2015 December bottom) would pressure price towards 1.0849 (61.8% r) later this.

Today, outlook remains bearish for weakness to 1.0880/90 after consolidation and only a daily close above 1.0957 would indicate temporary low is in place and risk stronger retracement towards 1.1020/30 but res at 1.1068 (Friday's high) should remain intact.

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AceTraderFx Feb 29: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 29 Feb 2016 09:08 GMT

USD/JPY - 113.04
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.

On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.

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

DAILY MARKET OUTLOOK
Update Time: 01 Mar 2016 04:33 GMT

EUR/USD - 1.0880
Despite yesterday's anticipated resumption of recent decline from February's 1.1377 peak to a fresh 3-week low of 1.0859 after data showed euro zone moved back into deflation, subsequent minor recovery in New York due to downbeat U.S. economic data suggests consolidation is in store.
As long as 1.0912 (last Friday's low, now res) holds, marginal weakness is likely, however, loss of near term downward momentum should keep price above 1.0810 sup and bring correction later today or tomorrow.

A firm rise above 1.0912/22 would be the 1st signal temporary bottom is in place and bring stronger retracement twd 1.0957/63.

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

DAILY MARKET OUTLOOK
Update Time: 01 Mar 2016 09:19 GMT

USD/JPY - 113.11
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.

On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.

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AceTraderFx Mar 2: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 02 Mar 2016 04:08 GMT

EUR/USD - 1.0870
Despite yesterday's anticipated resumption of recent decline from Feb's 3-1/2 month peak at 1.1377 to a 1-month trough of 1.0834 after release of a string of upbeat U.S. data and dovish comments by ECB President Mario Draghi, subsequent short-covering rebound signals temporary low has been made and consolidation is in store.
As long as 1.0912 (previous low, now res) holds, marginal weakness is likely, however, weakening of downward momentum should limit downside to 1.0800/10 and bring correction later this week.

On the upside, a daily close above 1.0912 would confirm long-awaited correction has taken place, then risk is seen for stronger retracement to 1.0950/60 but 1.0987/90 should cap upside.

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

DAILY MARKET OUTLOOK
Update Time: 02 Mar 2016 08:47 GMT

USD/JPY - 114.21
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and gain towards 114.30/40 is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.

On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.

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

DAILY MARKET OUTLOOK
Update Time: 03 Mar 2016 04:01GMT

EUR/USD - 1.0872
Despite euro's anticipated resumption of recent decline from Feb's 1.1377 peak to a 1-month trough of 1.0826 in New York morning after upbeat U.S. private ADP employment report, subsequent rebound to 1.0874 (Australia) suggests temporary low has been made and consolidation with mild upside bias remains, above 1.0912 (previous sup, now res) is needed to bring stronger retracement to 1.3950/60.

On the downside, below 1.0826 would yield marginal weakness towards 1.0800/10, however, loss of downward momentum should keep price well above daily sup at 1.0776 and bring a much-needed correction later today or tomorrow.

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AceTraderFx Mar 3: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 03 Mar 2016 08:31 GMT

USD/JPY - 113.94
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and marginal gain from here is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.

On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.

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

DAILY MARKET OUTLOOK
Update Time: 04 Mar 2016 04:23 GMT

EUR/USD - 1.0941
Yesterday's rally above 1.0912 to as high as 1.0973 in New York session due to broad-based long liquidation in the USD confirms recent decline from February's 3-1/2 month peak at 1.1377 has indeed formed a low at 1.0826 on Wednesday and consolidation with upside bias remains for further gain to 1.1030/35.
However, near term o/bot condition should cap euro below 1.1060/68 res today.

On the downside, only firm break of 1.0912 would suggest 1st leg of correction is over and risk stronger retracement towards 1.0853/58 but 1.0826 should remain intact.

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AceTraderFx Mar 4: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 04 Mar 2016 08:44 GMT

USD/JPY - 113.82
Despite the greenback's selloff to a fresh 2-week trough at 111.04, subsequent strong rebound suggests further choppy trading above February's low at 110.99 would continue with upside bias and marginal gain from here is likely to be seen, however, as broad outlook remains consolidative, reckon resistance at 114.88 should remain intact and bring another fall later today or early tomorrow.

On the downside, only below 111.04 would revive bearishness for a re-test of 110.99, break would confirm recent downtrend has resumed and yield further weakness towards 110.40/50.

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

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DAILY MARKET OUTLOOK
Update Time: 07 Mar 2016 03:00 GMT

EUR/USD - 1.0993
Although euro's retreat after Friday's rally from 1.0904 to as high as 1.1044 in post-U.S. jobs data New York morning session suggests upmove from last Wednesday's 1-month bottom at 1.0826 has made a temporary top and expect initial consolidation before extending aforesaid rise to 1.1060/68, loss of momentum should cap price below 1.1100/05.

Expect 1.0960/70 to hold and yield such move and only below 1.0904 would signal said correction from 1.0826 over, risk weakness to 1.0848/81 next.

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

DAILY MARKET OUTLOOK
Update Time: 07 Mar 2016 09:05 GMT

USD/JPY - 113.62
Despite the greenback's rally to 114.56 last Tuesday, subsequent sharp retreat to 113.12 last Friday on poor U.S. wage growth data suggests further choppy trading below February's high at 114.88 would continue with mild downside bias and marginal weakness towards 112.80/90 is likely to be seen.
However, as broad-outlook remains consolidative, reckon price would hold well above support at 112.38 and yield rebound.

On the upside, only above 114.56 would revive bullishness for a re-test of 114.88, break would confirm erratic upmove from 110.99 has once again resumed and extend towards 115.30/40.

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

DAILY MARKET OUTLOOK
Update Time: 08 Mar 2016 04:15 GMT

EUR/USD - 1.1017
Despite yesterday's retreat to 1.0940 in Europe, euro's subsequent strong rebound to 1.1026 in New York session due to broad-based usd's weakness following rally in oil and metals' prices suggests pullback from last Friday's 1.1044 high has ended and near term upmove from last Wednesday's 1-month trough at 1.0826 would head to 1.1060/68 target after consolidation, loss of momentum should cap price at 1.1100/05 today.

On the downside, expect 1.0970/80 to hold from such rise and only below 1.0940 signals 1st leg of correction from 1.0826 has ended, risks stronger retacement towards 1.0904.

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

DAILY MARKET OUTLOOK
Update Time: 09 Mar 2016 04:20 GMT

EUR/USD - 1.0993
Despite yesterday's anticipated resumption of upmove from last Wed's 1-month bottom at 1.0826 to 1.1058 in New York morning on broad-based retreat in global equities, subsequent strong retreat to 1.0993 signals aforesaid rise has indeed formed a temporary top there and choppy trading with near term downside bias is seen ahead of Thursday's ECB monetary policy meeting, however, reckon sup at 1.0940 would contain weakness and bring rebound later today or tomorrow.

Only above 1.1058/68 res area is needed to revive bullish prospect of further subsequent headway to 1.1100/05 whilst below 1.0940 may risk stronger retracement twd 1.0904.

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

DAILY MARKET OUTLOOK
Update Time: 10 Mar 2016 05:03 GMT

EUR/USD - 1.0985
Despite yesterday's strong rebound from 1.0946 to 1.1035 in New York session, subsequent retreat suggests choppy price swings below Tuesday's 1.1058 peak would continue ahead of ECB's monetary policy meeting later today.
As long as sup at 1.0940/46 sup holds, outlook remains mildly bullish for euro's early upmove from last Wednesday's 1-month bottom at 1.0826 to head toward 1.1000/05 later.

On the downside, a daily close below 1.0904 (last Friday's low) would indicate aforesaid correction has ended, then risk would shift to the downside for a re-test of 1.0826 later next week.

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

DAILY MARKET OUTLOOK
Update Time: 10 Mar 2016 09:08GMT

USD/JPY - 113.60
Despite the greenback's rally to 114.56 last Tuesday, subsequent sharp retreat to 113.12 last Friday on poor U.S. wage growth data suggests further choppy trading below February's high at 114.88 would continue with mild downside bias and marginal weakness towards 112.80/90 is likely to be seen.
However, as broad-outlook remains consolidative, reckon price would hold well above support at 112.38 and yield rebound.

On the upside, only above 114.56 would revive bullishness for a re-test of 114.88, break would confirm erratic upmove from 110.99 has once again resumed and extend towards 115.30/40.

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

DAILY MARKET OUTLOOK
Update Time: 11 Mar 2016 04:30 GMT

EUR/USD - 1.1200
Despite euro's intra-day selloff from 1.0990 to a fresh 1-month low of 1.0822 after anticipated ECB's rate cut and more easing measures, subsequent short-covering rebound and then a sharp rally to as high as 1.1218 following ECB President Draghi's 'no further rate cuts' comments confirms correction from February's 3-1/2 month peak at 1.1377 has ended there and outlook remains supportive for re-test of said res level later this month.
Today, expect 1.1116 would contain pullback and yield further headway to 1.1250 after consolidation but 1.1290/00 should cap upside.

On the downside, only below 1.1116 signals temporary top has been made and yield 1-2 days of consolidation before prospect of further rise.

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

DAILY MARKET OUTLOOK
Update Time: 14 Mar 2016 05:39 GMT

EUR/USD - 1.1155
Despite euro's strong retreat to 1.1081 on Friday, subsequent rebound to 1.1193 in New York session signals pullback from last week's 1.1218 (Thursday) has ended there and outlook remains mildly bullish for near term upmove from Thursdays fresh 1-mnth bottom at 1.0821 to resume after consolidation and yield marginal gain to 1.1250, 'loss of momentum' should cap price below 1.1300 and risk has increased for a correction to take place later.

Only below 1.1081 would risk stronger retracement towardsd 1.0858 (previous res, now sup) before prospect of a strong rebound.

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

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DAILY MARKET OUTLOOK
Update Time: 14 Mar 2016 08:41 GMT

USD/JPY - 113.74
As price has ratcheted higher in Asia today to 114.01 following last Thursday's selloff from 114.45 to 112.61, suggesting choppy trading inside this near term established broad range would continue and as long as sup at 113.34 (Friday's New York low) holds, mild upside bias remains for marginal gain to 114.15/15.However, dlr's upside should falter below 114.45.

On the downside, below 113.34 would signal aforesaid erratic rise has ended and yield subsequent weakness to 112.95/00.

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