AceTraderFx : Daily Recommendations on Majors

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

DAILY MARKET OUTLOOK
Update Time: 01 Apr 2016 03:37 GMT

EUR/USD - 1.1369
Euro's rally above 2016 peak at 1.1377 (Feburary) to a fresh 4-1/2 month peak at 1.1412 in New York morning signals erratic upmove from January's bottom at 1.0523 has resumed and further gain to 1.1450/60 is envisaged after consolidation.
However, 'loss of momentum' should cap price below 1.1495 (2015 Oct high) today and yield retreat later.

On the downside, only a daily close below support at 1.1310 would indicate a top has been made instead and turn outlook bearishness for subsequent correction towards 1.1220/30.

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

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DAILY MARKET OUTLOOK
Update Time: 01 Apr 2016 08:09 GMT

USD/JPY - 112.32
Intra-day dollar's weakness to 112.06 due to active yen-buying on the back of weakness in the Nikkie suggests decline from this week's 113.80 peak to correct upmove from Mar's 16-month trough at 110.67 would resume, below 112.02 would pressure price to 111.87 (61.8% r), loss of momentum should keep price above 111.37.

Only a daily close above 112.68 (reaction high from 112.02) would risk stronger retracement of aforesaid fall to 113.15/25 before prospect of another decline next week.

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AceTraderFx Apr 5: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 05 Apr 2016 04:08GMT

EUR/USD - 1.1397
Euro's rebound after retreating strongly from last Friday's 5-month peak of 1.1438 to 1.1335 in New York session suggests mild upside bias remains for recent upmove to resume after consolidation.
However, near term 'loss of upward momentum' should prevent strong gain today and reckon chart res at 1.1495 should remain intact.

On the downside, below 1.1335 would confirm a temporary top has been made and bring retracement towards 1.1310/15 but 1.1283 should hold, yield rebound.

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

DAILY MARKET OUTLOOK
Update Time: 05 Apr 2016 09:02 GMT

USD/JPY - 110.48
Dollar's intra-day cross-inspired breach of March's 16-month bottom at 110.67 confirms MT downtrend from 2015 peak at 125.86 has resumed and further weakness to 110.09 and then 109.50/60 would be seen.
However, loss of momentum should keep price well above 109.00 today and yield rebound later.

On the upside, only a daily close above 111.06/10 would indicate a temporary low has been made and yield retracement to 111.37, then 111.80 before prospect of a retreat.

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

DAILY MARKET OUTLOOK
Update Time: 06 Apr 2016 02:31 GMT

EUR/USD - 1.1382
Euro's rebound after last Friday's intra-day strong retreat from a fresh 5-month peak of 1.1438 to 1.1335 suggests mild upside bias remains for recent upmove to resume after consolidation.
However, near term 'loss of upward momentum' should prevent strong gain today and reckon chart res at 1.1495 should remain intact.

On the downside, below 1.1335 would confirm a temporary top has been made and bring retracement towards 1.1310/15 but 1.1283 should hold, yield rebound.

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

DAILY MARKET OUTLOOK
Update Time: 06 Apr 2016 09:17 GMT

USD/JPY - 110.32
Dollar's cross-inspired selloff to a fresh 17-month trough at 109.92 confirms MT downtrend from 2015 peak at 125.86 has resumed and further weakness to 109.80 and then 109.50/60 would be seen.
However, loss of momentum should keep price well above 109.00 ahead of FOMC minutes later today.

On the upside, only a daily close above 111.06/10 would indicate a temporary low has been made and yield retracement to 111.37, then 111.80 before prospect of a retreat.
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AceTraderFx Apr 7: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1413
Despite euro's brief break of previous support at 1.1335 to 1.1327 ahead of New York open yesterday, subsequent intra-day rally to 1.1432 signals pullback from last Friday's fresh 5-month peak of 1.1438 has ended there and consolidation with upside bias would be seen, above said resistance anytime would confirm recent upmove has resumed and extend gain towards next chart objective at 1.1495 before prospect of correction.

On the downside, only a daily close below 1.1327 would confirm a temporary top has been made and bring retracement to 1.1283 but reckon 1.1220/25 would hold, yield rebound.

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

DAILY MARKET OUTLOOK
Update Time: 07 Apr 2016 09:06 GMT

USD/JPY - 108.55
Dollar's intra-day cross-inspired selloff below yesterday's fresh 17-month trough at 109.34 confirms MT downtrend from 2015 peak at 125.86 has once again resumed and further weakness to 108.20/30 and then 107.60/70 would be seen before prospect of correction due to loss of momentum.

On the upside, only a daily close above 109.91/92 would indicate a temporary low has been made and yield retracement to 110.41 but resistance at 110.64 should remain intact.

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

DAILY MARKET OUTLOOK
Update Time: 08 Apr 2016 04:00 GMT

EUR/USD - 1.1371
Despite euro's brief rise above last Friday's high of 1.1438 to a fresh 5-1/2 month peak at 1.1454 in European morning, subsequent intra-day selloff to 1.1338 in New York morning signals MT uptrend has made a temporary top there and a few days of consolidation with mild downside bias would be seen.
However, reckon 1.1260/70 would hold and yield rebound later.

On the upside, a break of 1.1454 would bring further gain to 1.1495 but loss of momentum should limit upside to 1.1510/20 and yield retreat.

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

DAILY MARKET OUTLOOK
Update Time: 08 Apr 2016 09:08 GMT

USD/JPY - 108.99
Despite dollar's selloff to a fresh 17-month trough at 107.67 in New York morning yesterday, subsequent rebound to 108.46, then 109.10 in European morning today signals MT downtrend has made a temporary low there and consolidation with upside bias would be seen.
However, reckon 109.50/60 would limit upside and yield another selloff later today or early next week.

On the downside, below 108.07 support would confirm correction over and bring re-test of 107.67, break would extend weakness towards 107.10/20.

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

DAILY MARKET OUTLOOK
Update Time: 11 Apr 2016 05:09 GMT

EUR/USD - 1.1407
Despite euro's rebound after last Thursday's intra-day strong retreat from a fresh 5-1/2 month peak at 1.1454 to 1.1338, as this move signals MT uptrend has made a temporary top there, choppy trading with mild downside bias remains, below said support would bring another leg of correction towards 1.1282/83 but reckon 1.1220/25 would contain weakness, bring rebound.

On the upside, above 1.1454 would yield another upmove to 1.1470/80 but 'loss of momentum' should cap price below 1.1495 (2015 October 15 high) and yield correction later.

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

DAILY MARKET OUTLOOK
Update Time: 11 Apr 2016 08:14 GMT

USD/JPY - 108.16
Despite dollar's selloff to a fresh 17-month trough at 107.63 in Asian morning today, subsequent rebound in European morning suggests MT downtrend has made a temporary low there and consolidation would be seen, however, reckon 109.10 would cap upside and yield another selloff later this week.

On the downside, below 107.63 yield further weakness towards 107.20/30 before correction occurs due to loss of momentum.

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AceTraderFx Apr 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 12 Apr 2016 05:00GMT

EUR/USD - 1.1410
Euro's rebound after last Thursday's intra-day strong retreat from a fresh 5-1/2 month peak at 1.1454 to 1.1338 suggests mild upside bias remains for MT uptrend to resume after consolidation.
However, 'loss of momentum' should prevent strong gain above said high and reckon price would falter well below 1.1495 (2015 Oct 15 high) and yield correction later.

On the downside, only below 1.1338 would confirm a temporary top has been made and bring another leg of correction towards 1.1282/83 and then possibly towards 1.1220/25 before prospect of a rebound.
On the upside, above 1.1454 would yield another upmove to 1.1470/80 but 'loss of momentum' should cap price below and yield correction later.
AceTrader - Best Intra-day Forex Trading Strategies
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AceTraderFx Apr 12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 12 Apr 2016 08:23 GMT

USD/JPY - 108.18
Despite dollar's selloff to a fresh 17-month trough at 107.63 in Asian session on Monday, subsequent intra-day rebound to 108.44 in New York morning suggests MT downtrend has possibly made a temporary bottom there and a few days of choppy sideways trading would be seen.
However, as long as resistance at 109.10 holds, bearishness remains for another selloff later this week.

On the downside, below 107.63 would yield further weakness towards 107.20/30 before correction occurs due to loss of momentum.

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AceTraderFx Apr 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 13 Apr 2016 04:03 GMT

EUR/USD - 1.1370
Despite euro's brief rally above last week's top at 1.1454 to a fresh 5-1/2 month peak at 1.1465 in Europe on Tuesday, subsequent intra-day sharp selloff to 1.1336 in New York morning on long-liquidation suggests a temporary top has been made and consolidation with downside bias is seen, however, reckon support at 1.1283 would hold and yield rebound later.

On the upside, only a firm breach of 1.1465 would indicate MT uptrend has resumed and extend gain to 1.1495 and then 1.1512 before correction occurs.

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AceTraderFx Apr 13: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 13 Apr 2016 08:04GMT

USD/JPY - 108.90
Although dollar's rebound from Monday's fresh 17-month trough at 107.63 and then intra-day breach of 108.44 (yesterday's high in New York) signals Medium Term downtrend has made a temporary bottom there, as long as resistance at 109.10 holds, bearishness remains for another selloff later today or tomorrow.

On the downside, 108.44 would indicate a top has been made and yield weakness to 108.12, break would confirm correction over and bring re-test of 107.63, then towards 107.20/30.
Only above 109.10 would dampen bearishness and risk stronger correction towards 109.34 and possibly towards 109.91/92.

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

DAILY MARKET OUTLOOK
Update Time: 14 Apr 2016 08:18 GMT

USD/JPY - 109.20
Dollar's rally from Monday's fresh 17-month trough at 107.63 to as high as 109.41 in yesterday New York, then 109.55 in today's Asian morning signals MT downtrend has made a temporary bottom there and as long as 108.75/79 holds, stronger retracement towards 109.60/70 would be seen, however, 'loss of momentum' should cap price below 109.92 (previous support, now resistance) and yield another fall later.

On the downside, only a daily close below 108.44 would indicate correction over and yield weakness to 108.12, break would bring re-test of 107.63.

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AceTraderFx Apr 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 18 Apr 2016 06:02 GMT

EUR/USD - 1.1294
Euro's selloff from last Tuesday's fresh 5-1/2 month peak at 1.1465 to as low as 1.1234 on Thursday signals Medium Term uptrend from 1.0523 (Dec 2015) has made a temporary top there and despite subsequent recovery to 1.1317 on Friday, as long as 1.1346 (previous support, now resistance) holds, choppy trading with downside bias remains.
However, reckon 1.1144 would contain weakness and yield rebound 'later'.

On the upside, only a daily close above 1.1346 would indicate 1st leg of correction over and yield gain towards 1.1401 before down.

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AceTraderFx Apr 18: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK
Update Time: 18 Apr 2016 08:28 GMT

USD/JPY - 108.23
Although Friday's selloff from 109.74 to 108.60 and then intra-day gap-down open to 107.75 (Reuters) in New Zealand signals recovery from last Monday's 17-month trough at 107.63 has ended, subsequent intra-day recovery suggests choppy sideways trading would be seen for Medium Term downtrend resumes to next downside objective 106.98.

On the upside, a daily close above 108.60 (previous support, now resistance) would prolong choppy trading but reckon price should falter well below 109.74 another decline.

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

DAILY MARKET OUTLOOK
Update Time: 19 Apr 2016 05:11 GMT

EUR/USD - 1.1322
Yesterday's rise from 1.1274 to 1.1332 in New York confirms euro's decline from last Tuesday's 5-1/2 month peak at 1.1465 has indeed made a low at 1.1234 (Thursday) and as long as said Mon's low holds, consolidation with mild upside bias still remains for gain toward 1.1346, however, reckon 1.1377 (61.8% r of 1.1465-1.1334) would cap upside and yield another fall later this week.

On the downside, a firm break of 1.1272/74 any time signal correction is over and brings weakness toward 1.1234.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time