AceTraderFx : Daily Recommendations on Majors

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

DAILY MARKET OUTLOOK
Update Time: 15 Mar 2016 05:02 GMT

EUR/USD - 1.1106
Despite yesterday's decline from 1.1176 (New Zealand) to 1.1099 in Europe in reaction to setback by Germany's ruling CDU party in Sunday's regional election, then a brief breach of 1.1081 sup to 1.1077 (interbank low) in New York, subsequent rebound suggests consolidation with upside bias is in store, above 1.1176 would signal pullback from last week's high at 1.1218 (Thursday) has ended and yield gain towards 1.1250 later this week.

On the downside, only below 1.1058 (previous res, now sup) would risk stronger correction of upmove from last Thursday's post-ECB rate cut 1-month bottom towards 1.1019 (50% r) before prospect of a rebound.

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AceTraderFx Mar 15: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 15 Mar 2016 08:46 GMT

USD/JPY - 113.06
Despite intra-day brief rise to 114.15 in Asian morning after Bank of Japan's rate decision, subsequent sharp retreat suggests further choppy trading inside recent broad range of 114.56-112.23 would continue with downside bias and weakness towards 112.61 would be seen, however, indicated lower level would remain intact and yield rebound later today.

On the upside, only above 114.15 would revive bullishness for a re-test of March's peak at 114.56, break would extend towards 114.88 before retreat.

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AceTraderFx Mar 16: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 15 Mar 2016 05:07 GMT

EUR/USD - 1.1105
Despite yesterday's 'sterling-led' marginal weakness below Mon's 1.1077 low to 1.1072 in Europe, subsequent rebound to 1.1125 in New York following weak U.S. retail sales data suggests consolidation is in store initially and mild upside bias remains , a firm break above overead res area at 1.1125/35 would signal pullback from last Thursday's 1.1218 peak has ended, then outlook would improve for further subsequent headway towards 1.1193.

On the downside, below 1.1072 would risk stronger retracement of euro's early spectacular rally from last Thursday's 1-month trough at 1.0821 towards 1.1058 (previous res, now sup), loss of momentum should keep price well above 1.1019 (50% r from 1.0821) and bring another rise later this week.

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

DAILY MARKET OUTLOOK
Update Time: 16 Mar 2016 8:24 GMT

USD/JPY - 113.68
Despite yesterday's brief rise to 114.15 in Asian morning after Bank of Japan's rate decision, subsequent sharp retreat suggests further choppy trading inside recent broad range of 114.56-112.23 would continue with downside bias and weakness towards 112.61 would be seen, however, indicated lower level would remain intact and yield rebound later today.

On the upside, only above 114.15 would revive bullishness for a re-test of March's peak at 114.56, break would extend towards 114.88 before retreat.

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

DAILY MARKET OUTLOOK
Update Time: 17 Mar 2016 05:00 GMT

EUR/USD - 1.1213
Euro's anticipated rebound from 1.1058 to a 1-month peak of 1.1242 in post-FOMC New York session Wednesday after dovish Fed statement has justified our recent bullish stance and expect minor consolidation to take place in Asia before upmove from last week's 1.0821 low (Thursday) resumes towards 1.1290/00, near term overbought condition should cap price below minor daily res at 1.1335.

On the downside, only a daily close below 1.1193 (previous res, now sup) signals temporary top is made and risks stronger retracement towards 1.1150. However, reckon 1.1125 should remain intact.

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AceTraderFx Mar 17: Daily Recommendations on Major -USD/JPY
DAILY MARKET OUTLOOK
Update Time: 17 Mar 2016 08:06 GMT

USD/JPY - 111.70
The greenback's selloff to 112.33 yesterday on dollar's broad-based weakness post the Federal Reserve's unchanged rate decision, then intra-day fall below said support to 111.48 signals recent erratic downtrend from March's high at 114.56 remains in progress and consolidation with downside bias remains for weakness towards 111.30/40, however, near term loss of momentum would keep price above support at 111.04.

On the upside, only above 112.63 would indicate a temporary low has been made and turn outlook bullish for a much-needed correction towards 112.96/00.

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

DAILY MARKET OUTLOOK
Update Time: 18 Mar 2016 04:21 GMT

EUR/USD - 1.1322
Yesterday's continuation of Wed's spectacular rally to 1.1343 in Europe suggests price is en route to re-test February's 3-1/2 month peak at 1.1377 after consolidation, above would extend marginal gain, however, near term loss of upward momentum is likely to prevent strong gain today and reckon 1.1400/10 would cap upside.

Expect 1.1278 (New York low) to hold and yield further rise and only below would signal a temporary top is in place, risk stronger retracement towards 1.1206 before prospect of another rise next week.

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

DAILY MARKET OUTLOOK
Update Time: 21 Mar 2016 05:00 GMT

EUR/USD - 1.1280
Euro's intra-day strong retreat from 1.1337 to 1.1256 last Fri suggests recent upmove has made a temporary high at Thursday's 1-month peak at 1.1343 and consolidation with near term downside bias remains for a marginal weakness, reckon sup at 1.1206 would contain downside and bring rebound, however, a daily close above 1.1307 is needed to signal pullback is over and yield gain towards February 's 3-1/2 month high at 1.1377.

On the downside, only a daily close below indicated sup at 1.1206 would bring stronger correction to 1.1145/50 before prospect of a rebound later this week.

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

DAILY MARKET OUTLOOK
Update Time: 21 Mar 2016 09:09 GMT

USD/JPY - 111.40
The greenback's selloff last week and subsequent breach of February's trough at 110.99 to 110.67 last Thursday signals erratic medium-term decline has once again resumed and consolidation with downside bias remains for weakness towards 110.40/43, however, near term loss of momentum would prevent steep fall below there and shift risk to the upside for a stronger correction.

On the upside, only above 112.63 would indicate a temporary low has been made and turn outlook bullish for a much-needed correction towards 112.96/00.

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AceTraderFx Mar 22: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 22 Mar 2016 05:13 GMT

EUR/USD - 1.1237
Although euro's weakness to 1.1234 yesterday and then intra-day brief break of this level in Asia today suggests recent upmove has made a temporary top at last Thursday's 1-month peak at 1.1343 and further choppy consolidation is in store, as long as sup at 1.1206 holds, bullishness remains for another strong rebound, above 1.1285 would be the 1st signal said pullback is over and yield 1.1307, then later towards 1.1343.

Only a daily close below 1.1206 would risk stronger retracement to 1.1176, however, loss of momentum would keep euro above 1.1140/44 today.

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

DAILY MARKET OUTLOOK
Update Time: 22 Mar 2016 09:07 GMT

USD/JPY - 111.67
The greenback's selloff last week and subsequent breach of February's trough at 110.99 to 110.67 last Thursday signals erratic medium-term decline has once again resumed and consolidation with downside bias remains for weakness towards 110.40/43, however, near term loss of momentum would prevent steep fall below there and shift risk to the upside for a stronger correction.

On the upside, only above 112.63 would indicate a temporary low has been made and turn outlook bullish for a much-needed correction towards 112.96/00.

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

DAILY MARKET OUTLOOK
Update Time: 23 Mar 2016 09:08 GMT

USD/JPY - 112.57
Despite the greenback's selloff to as low as 110.67 last Thursday, subsequent strong rebound suggests MT decline has possibly made a temporary low there and consolidation with upside bias would be seen for gain towards 112.96, then 113.46/50.
However, near term loss of momentum would prevent strong move beyond there and risk would increase for a much-needed retreat later.

On the downside, only below 111.38 would indicate aforesaid correction has ended instead and turn outlook bearish for weakness towards 111.22, then 110.99.

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

DAILY MARKET OUTLOOK
Update Time: 24 Mar 2016 05:02GMT

EUR/USD - 1.1170
Despite yesterday's resumption of decline from last Thursday's 1-month high of 1.1343 to 1.1159 (interbank low) in New York in the aftermath of Tuesday's terrorist attacks in Brussels.
Near term loss of momentum is expected to prevent steep fall ahead of the long Easter holiday and reckon 1.1125 (previous res, now sup) would remain intact and bring a much-needed minor retracement of aforesaid fall later today.

On the upside, above 1.1200/05 wold be the 1st signal temporary low has been made, then outlook would improve for subsequent headway to 1.1235/39, however, euro's upside should falter below res at 1.1260 and yield another leg of decline next week.

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

DAILY MARKET OUTLOOK
Update Time: 24 Mar 2016 09:07 GMT

USD/JPY - 111.85
Dlr's intra-day brief break of yesterday's 112.91 high confirms near term upmove from last Thursday's 16-month bottom has once again resumed and as long as 112.30 (Asia low) holds, further gain to 113.30/34 is envisaged, however, loss of upward momentum should cap price well below res at 113.82 and yield subsequent strong retreat.

On the downside, below 112.30 would signal 1st leg of correction is over and risk weakness to 111.84/88, however, sup at 111.38 should continue to hold from here and yield another leg of upmove next week.

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

DAILY MARKET OUTLOOK
Update Time: 29 Mar 2016 05:45 GMT

EUR/USD - 1.1196
Despite yesterday's narrow movement in subdued Asian session, subsequent rally above 1.1176 res (now sup) to 1.1220 in holiday-thinned New York morning after release of soft U.S. inflation data confirms euro's recent decline from March's 1-month peak at 1.1343 has formed a temporary low last Thursday at 1.1144 and consolidation with mild upside bias remains for marginal gain, reckon 1.1260 would cap present rise and yield another fall.

On the downside, a daily close below 1.1176 would signal aforesaid correction has ended, re-test of 1.1144 would be seen, then weakness to 1.1125.

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

DAILY MARKET OUTLOOK
Update Time: 29 Mar 2016 08:21 GMT

USD/JPY - 113.65
U.S. dollar's intra-day break of yesterday's 113.69 high confirms near term upmove from last March's 16-month bottom has once again resumed and as long as 113.15 support holds, further gain to 114.00/10 is envisaged, however, loss of upward momentum should cap price below daily res at 114.45 today and yield retreat later.

On the downside, only a daily close below 113.15 would signal a temporary top has possibly been made and risk weakness towards 112.20/37.

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

DAILY MARKET OUTLOOK
Update Time: 30 Mar 2016 01:10GMT

EUR/USD - 1.1297
Euro's rally to as high as 1.1303 in New York afternoon on Tuesday due to dovish remarks from Fed's chair Yellen signals recent decline from March's 1-month peak at 1.1343 has ended last Thursday at 1.1144 and consolidation with upside bias remains.
However, break of said temporary top is needed to bring resumption of upmove from March's bottom at 1.0521 towards 2016 peak at 1.1377 (February) later.

On the downside, a daily close below 1.1220 (Monday's high, now support) would prolong choppy trading but support at 1.1144 should remain intact.

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

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DAILY MARKET OUTLOOK
Update Time: 30 Mar 2016 08:16 GMT

USD/JPY - 112.11
Despite dollar's initial rise to 113.80 in European morning yesterday, subsequent intra-day selloff to 112.61 in New York afternoon on dovish remarks from Fed's Yellen and today's breach of this support confirms upmove from March's 16-month trough at 110.67 has made a temporary top there, consolidation with downside bias remains for stronger retracement to 111.87 (61.8%) but near term o/sold condition should keep price well above support at 111.38 today, yield rebound later.

On the upside, only above 112.81 would confirm 1st leg of correction over and bring gain to 113.15/24 but resistance at 113.46 should remain intact.

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

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DAILY MARKET OUTLOOK
Update Time: 31 Mar 2016 05:04 GMT

EUR/USD - 1.1328
Euro's rally to as high as 1.1303 in New York afternoon on Tuesday due to dovish remarks from Fed's chair Yellen, then yesterday's breach of previous March's peak at 1.1343 to 1.1365 suggests a re-test of 2016 peak at 1.1377 (Feb) would be forthcoming soon.
However, above there is needed to bring resumption of erratic upmove from January's bottom at 1.0523 towards 1.1450/60 later.

On the downside, a daily close below support at 1.1283 would indicate a temporary top has been made and yield retracement towards 1.1245/55 before prospect of a rebound.

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AceTraderFx Mar 31: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 31 Mar 2016 09:21 GMT

USD/JPY - 112.43
Dollar's early selloff from Tue's 113.80 high on the back of dovish comments by Fed Chair Yellen to 1.02 yesterday confirms upmove from March's 6-month trough at 110.67 has ended there and choppy consolidation with downside bias is seen ahead of Fri's key U.S. jobs data.
Expect 12.70/80 to cap intra-day recovery and yield weakness towards 111.87 (61.8% r of 110.67-13.80), however, loss of momentum should keep price above 111.37.

On the upside, only above 113.15/24 res area dampens present bearish scenario but reckon 13.80 should remain intact.

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