AceTraderFx : Daily Recommendations on Majors

AceTraderFx May 30 : Daily Recommendations on Major GBP/USD

DAILY MARKET OUTLOOK on Major GBP/USD
Update Time: 30 May 2016 08:12GMT

GBP/USD - 1.4610
Cable's erratic fall from last Thursday's 3-week high to 1.4604 Friday due to dlr's broad-based gain after Fed Yellen's hawkish comments suggests 'choppy' trading below May's 4-mth peak at 1.4770 would continue with downside bias, below 1.4550, 1.4488 (61.8% r).

Incline to turn short on recovery for 1.4560 1st and only above 1.4689 may risk gain to 1.4720/30.

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AceTraderFx May 31 : Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 31 May 2016 04:03GMT

EUR/USD - 1.1148
Despite the single currency's fall to a fresh 2-month trough at 1.1098 yesterday, subsequent strong rebound suggests recent downtrend from May's peak at 1.1617 has formed a minor low there and consolidation with upside bias would be seen for gain towards 1.1169, then 1.1201/05.
However, as broad-outlook remains consolidative, reckon resistance at 1.1217 would hold and yield retreat later.

On the downside, only below 1.1098 would revive bearishness for weakness towards 1.1058/60, then 1.1020 later this week but near term loss of momentum would keep price above 1.1000.

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AceTraderFx May 31 : Daily Recommendations on Major

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 31 May 2016 09:07 GMT

USD/JPY - 111.02
Although price has eased after yesterday's rally to a fresh 1-month peak at 111.45 on dollar's broad-based strength following last week's comments from Fed's Yellen and further choppy trading would be seen, as said move signals recent erratic uptrend has resumed, consolidation with upside bias remains for a re-test of aforesaid resistance, break would yield further gain towards 111.80/90 before prospect of retreat later this week.

On the downside, only below 110.59 would indicate a temporary top has been made and risk stronger retracement towards 110.00.

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AceTraderFx Jun 1: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 01 Jun 2016 04:08 GMT

EUR/USD - 1.1121
Despite the single currency's fall to a fresh 2-month trough at 1.1098 yesterday, subsequent strong rebound suggests recent downtrend from May's peak at 1.1617 has formed a minor low there and consolidation with upside bias would be seen for gain towards 1.1169, then 1.1201/05.
However, as broad-outlook remains consolidative, reckon resistance at 1.1217 would hold and yield retreat later.

On the downside, only below 1.1098 would revive bearishness for weakness towards 1.1058/60, then 1.1020 later this week but near term loss of momentum would keep price above 1.1000.

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AceTraderFx Jun 1: Daily Recommendations on Major

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 01 Jun 2016 09:06 GMT

USD/JPY - 109.95
Although price has retreated after yesterday's rally to a fresh 1-month peak at 111.45 on dollar's broad-based strength following last week's comments from Fed's Yellen and further choppy trading would be seen, as said move signals recent erratic uptrend has resumed, consolidation with upside bias remains for a re-test of aforesaid resistance, break would yield further gain towards 111.80/90 before prospect of retreat later this week.

On the downside, only below 109.42 would indicate a temporary top has been made and risk stronger retracement towards 109.11.

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AceTraderFx Jun 2: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 02 Jun 2016 01:17 GMT

EUR/USD - 1.1188
Despite the single currency's fall to a fresh 2-month trough at 1.1098 on Monday, subsequent strong rebound suggests recent downtrend from May's peak at 1.1617 has formed a minor low there and consolidation with upside bias would be seen for gain towards 1.1201/05.
However, as broad-outlook remains consolidative, reckon resistance at 1.1217 would hold and yield retreat later.

On the downside, only below 1.1098 would revive bearishness for weakness towards 1.1058/60, then 1.1020 later this week but near term loss of momentum would keep price above 1.1000.

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AceTraderFx Jun 2: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 02 Jun 2016 09:31 GMT

USD/JPY - 108.89
The greenback's sharp retreat in Asia today and subsequent breach of yesterday's low at 109.05 signals corrective decline from Monday's fresh 1-month peak at remains in progress and consolidation with downside bias remains for weakness towards 108.50/60.
However, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later.

On the upside, only above 109.69 would indicate a temporary low has been made and yield stronger retracement towards 110.14 (50% r).

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AceTraderFx Jun 3: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 03 Jun 2016 04:05 GMT

EUR/USD - 1.1150
Despite the single currency's initial rise to 121220 in European morning yesterday, subsequent sharp retreat to 1.1145 in New York morning on ECB's cautious economic outlook suggests the recovery from Monday's fresh 2-month trough at 1.1098 has ended there and consolidation with downside bias would be seen for weakness towards 1.1114, below would confirm this view and yield re-test of aforesaid support.

On the upside, only above 1.1220 would revive bullishness for a stronger retracement of medium-term decline towards 1.1280/83 before prospect of retreat.

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AceTraderFx Jun 3: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 03 Jun 2016 09:25 GMT

USD/JPY - 108.85
The greenback's sharp retreat in Asia today and subsequent breach of yesterday's low at 108.53 signals corrective decline from Monday's fresh 1-month peak at remains in progress and consolidation with downside bias remains for weakness towards 108.20/23.
However, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later.

On the upside, only above 109.69 would indicate a temporary low has been made and yield stronger retracement towards 110.14 (50% r).

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Buy or Sell?

AceTraderFx Jun 6: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 06 Jun 2016 01:27 GMT

EUR/USD - 1.1348
The single currency's rally to as high as 1.1375 on Friday after the release of much weaker-than-expected U.S. non-farm payrolls data suggests upmove from last week's low at 1.1098 remains in progress and consolidation with upside bias would be seen for gain towards 1.1447/50.
However, near term loss of momentum would prevent sharp move beyond there and reckon 1.1481 would hold and yield retreat later.

On the downside, only below 1.1220 (previous resistance) would indicate a temporary top has been made and risk stronger retracement towards 1.1173.

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AceTraderFx Jun 6: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 06 Jun 2016 09:16 GMT

USD/JPY - 107.11
Despite the greenback's resumption of recent decline on much weaker-than-expected U.S. jobs report on Friday to 106.35 in Australia today, subsequent rebound suggests a minor low has been made and consolidation is in store, however, resistance at 107.65 would remain intact and bring another fall towards said support later, break would extend towards 105.90/00 before prospect of correction.

On the upside, only above 108.09 would confirm a temporary low has been made and yield stronger retracement to 108.40/50 before another retreat later this week.

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AceTraderFx Jun 7: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 07 Jun 2016 03:08 GMT

EUR/USD - 1.1357
The single currency's rally to as high as 1.1375 on Friday after the release of much weaker-than-expected U.S. non-farm payrolls data, then to 1.1393 yesterday suggests upmove from last week's low at 1.1098 remains in progress and consolidation with upside bias would be seen for gain towards 1.1447/50.
However, near term loss of momentum would prevent sharp move beyond there and reckon 1.1481 would hold and yield retreat later.

On the downside, only below 1.1220 (previous resistance) would indicate a temporary top has been made and risk stronger retracement towards 1.1173.

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AceTraderFx Jun 7: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 07 Jun 2016 09:23 GMT

USD/JPY - 107.76
Despite the greenback's resumption of recent decline on much weaker-than-expected U.S. jobs report on Friday to 106.35 in Australia today, subsequent rebound suggests a minor low has been made and consolidation is in store, however, resistance at 108.07 would remain intact and bring another fall towards said support later, break would extend towards 105.90/00 before prospect of correction.

On the upside, only above 108.07 would confirm a temporary low has been made and yield stronger retracement to 108.40/50 before another retreat later this week.

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AceTraderFx Jun 8: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 08 Jun 2016 04:25 GMT

EUR/USD - 1.1363
The single currency's rally to as high as 1.1375 on Friday after the release of much weaker-than-expected U.S. non-farm payrolls data, then to 1.1393 yesterday suggests upmove from last week's low at 1.1098 remains in progress and consolidation with upside bias would be seen for gain towards 1.1447/50.
However, near term loss of momentum would prevent sharp move beyond there and reckon 1.1481 would hold and yield retreat later.

On the downside, only below 1.1220 (previous resistance) would indicate a temporary top has been made and risk stronger retracement towards 1.1173.

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AceTraderFx Jun 8: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 08 Jun 2016 09:23 GMT

USD/JPY - 107.21
Despite the greenback's resumption of recent decline on much weaker-than-expected U.S. jobs report on Friday to 106.35 in Australia today, subsequent rebound suggests a minor low has been made and consolidation is in store.
However, resistance at 108.07 would remain intact and bring another fall towards said support later, break would extend towards 105.90/00 before prospect of correction.

On the upside, only above 108.07 would confirm a temporary low has been made and yield stronger retracement to 108.40/50 before another retreat later this week.

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AceTraderFx Jun 10: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 10 Jun 2016 04:35 GMT

EUR/USD - 1.1300
Although euro's anticipated decline from Thursday's fresh 1-month peak at 1.1416 (Asia) to as low as 1.1306 in New York and then intra-day weakness below said sup in Asia confirms early upmove from May's 1.1098 trough has indeed made a temporary top there.
With near term loss of downward momentum it would prevent steep fall and reckon 1.1270/80 would contain downside, bring subsequent rebound but several days of choppy consolidation is now envisaged.

On the downside, only a daily close below 1.1265/70 would shift risk to downside for a stronger retracement of indicated upmove towards 1.1220 (previous res, now sup).

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AceTraderFx Jun 10: Daily Recommendations on Major GBP/USD

DAILY MARKET OUTLOOK on Major GBP/USD
Update Time: 10 Jun 2016 08:46GMT

DAILY GBP/USD OUTLOOK .......1.4430
Although cable's wild swings after rebound from Monday's near 3-week trough at 1.4352 to 1.4664 (Tuesday) ended with a downside break to 1.4447 in Europe, intra-day rebound from 1.4410 suggests erratic fall from 1.4664 has possibly made a low n yield 1.4427.

Buy again for this move but 1.4565/70 would hold and only below 1.4400 may risk fall towards 1.4352.

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AceTraderFx Jun 13: Daily Recommendations on Major

DAILY MARKET OUTLOOK on Major
13 Jun 2016 08:26GMT

DAILY GBP/USD OUTLOOK - 1.4245
Friday's sharp selloff to a 6-week low of 1.4180 in illiquid New York session and then to 1.4159 today on renewed 'Brexit' fear suggests erratic decline from May's 1.4770 peak to retrace Medium Term rise from 1.3836 (2015 low) would pressure cable towards 1.4005 later this week.

Lower short entry for 1.4150 next and only a daily close above 1.4312 risks 1.4350/60, break, 1.4410.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 14 Jun 2016 05:09 GMT

EUR/USD - 1.1296
Although euro's rebound from 1.1232 to 1.1303 (New York) yesterday suggests early decline from last Thursday's 1-month peak at 1.1416 has made a temporary low and choppy consolidation is in store, reckon res area at 1.1322/37 would cap intra-day again and yield another fall later today, loss of momentum should keep price above 1.1200.

On the upside, only a daily close above 1.1337 would risk stronger gain towards 1.1383/93 before prospect of another retreat.

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