AceTraderFx : Daily Recommendations on Majors

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

DAILY MARKET OUTLOOK on Major USD/JPY
14 Jun 2016 08:37GMT

DAILY USD/JPY OUTLOOK .....106.03
Dlr's resumption of recent fall from 111.45 (May) to 105.74 yesterday suggests re-test of May's 18-month trough at 105.55 would be seen and despite subsequent strong bounce to 106.58 in New York, intra-day retreat has retained bearishness, below 105.55, 105.35, 104.75.

Exit short and sell again for 105.60. Only above 106.58 prolongs choppy trading, risks gain to 107.00.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 15 Jun 2016 04:37 GMT

EUR/USD - 1.1211
Although euro's selloff below Monday's low at 1.1232 to 1.1189 in yesterday's New York morning suggests early rise from May's bottom at 1.1098 has ended at last Thursday's 1-month peak at 1.1416 and consolidation with downside bias would be seen, near term loss of momentum should limit downside to 1.1155/65 today and bring rebound later.

On the upside, only a daily close above 1.1303 would indicate a temporary low has been made and bring stronger gain towards 1.1383/93.

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

DAILY MARKET OUTLOOK on Major USD/JPY
15 Jun 2016 09:07GMT

USD/JPY - 106.28
Dollar's breach of Monday's low at 105.74 to 105.63 yesterday confirms correction from May's 18-month trough at 105.55 has ended earlier at 111.45 and re-test of this support is seen after consolidation, break would yield resumption of Medium Term downtrend to 104.70/80 but 'loss of momentum' should keep price well above 114.00 this week.

Intra-day rebound suggests choppy trading would be seen ahead of FOMC monetary decision later today (18:00GMT).
A daily above 107.26 needed to indicate a temporary low is made and bring retracement towards 107.90 before down.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 16 Jun 2016 05:07 GMT

EUR/USD - 1.1272
Although euro's selloff below Monday's low at 1.1232 to 1.1189 on Wednesday, subsequent rally to 1.1298 in New York yesterday following the release of unchanged Fed's rate decision and FOMC statement suggests further choppy trading above May's bottom at 1.1098 would continue with mild upside bias, a daily close above 1.1303 would indicate pullback from last Thursday's 1-month peak at 1.1416 has ended and yield gain to 1.1353 and later 1.1416 again.

On the downside, only below 1.1189 would bring further weakness to 1.1137 but 1.1098 should hold on 1st testing.

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AceTraderFx Jun 16: Daily Recommendations on Major -USD/CHF

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DAILY MARKET OUTLOOK on Major USD/CHF
16 Jun 2016 08:19GMT

DAILY USD/CHF OUTLOOK - 0.9604
Despite dlr's intra-day brief breach of last Thursday's 0.9578 low to a 5-week trough of 0.9571, loss of momentum should prevent steep fall and bring a minor retrace. of early fall from May's 0.9956 top before prospect of another decline next week.

Still favour selling on recovery for 0.9560 or buy at 0.9540 for 0.9620. Below 0.9498, 0.9444.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 17 Jun 2016 04:19GMT

EUR/USD - 1.1259
Despite yesterday's intra-day selloff which started at European open which later knocked euro sharply lower to a 2-week trough of 1.1131 in New York morning, subsequent 'sterling-led' ferocious short-covering rally to 1.1251 and then a brief rise to 1.1272 just ahead of Asian open today confirms euro's early fall from June's high at 1.1416 has formed a low and 1-2 days of choppy consolidation is in store.

A daily close above previous 1.1303 res is needed to bring stronger gain to 1.1353 whilst below 1.1189 would indicate correction is over and bring re-test of 1.1131 early next week.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 17 Jun 2016 09:07GMT

USD/JPY - 104.28
Although yesterday's cross-inspired erratic rise from a fresh 22-month trough of 103.56 to 104.60 in New York, then a brief upmove to 104.83 at Asian open today signals recent downtrend has formed a temporary low there, intra-day retreat suggests choppy consolidation with downside bias is in store.

Below 103.75/80 signals correction is over and brings re-test of 103.56, loss of downward momentum would keep price above 103.00/10 today. On the upside, a daily close above 104.83 would yield stronger retracement towards 105.55 before prospect of retreat.

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AceTraderFx Jun 20: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 20 Jun 2016 04:09GMT

EUR/USD - 1.1351
Euro's intra-day 'pound-led' rally above Friday's high of 1.1296 to 1.1358 in Asian morning signals recent upmove from last Thursday's 2-week trough at 1.1131 has resumed and consolidation with upside bias would be seen today.
However, broad outlook is consolidative and reckon this month's top at 1.1416 would remain intact ahead of Jun 23 referendum and yield retreat later.

On the downside, below 1.1296 would indicate a temporary top has been made and bring retracement to 1.1242 but support at 1.1223 should hold.

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AceTraderFx Jun 20: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 20 Jun 2016 09:07GMT

USD/JPY - 104.58
Although dollar's intra-day breach of Friday's high of 104.83 to 104.85 confirms recent downtrend has formed a temporary low at last Thursday's 22-month trough at 103.55, subsequent intra-day retreat suggests choppy trading with mild downside bias would be seen, below 104.30/40 would confirm 1st leg of correction over and yield weakness towards 104.08 before prospect of a rebound.

On the upside, only a move back above 104.85 would bring stronger retracement to 105.55 (previous sup, now resistance) later.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 21 Jun 2016 04:09GMT

EUR/USD - 1.1334
Although euro's 'cable-led' rally above Friday's high of 1.1296 to 1.1358 in Asian morning yesterday, subsequent retreat to 1.1302 in overnight New York session suggests choppy trading would be seen before signals recent upmove from last Thursday's 2-week trough at 1.1131 resumes to June's peak at 1.1416 but sharp gain above there is not likely ahead of June 23 referendum.

On the downside, below 1.1272 would indicate a temporary top has been made and bring retracement to 1.1242 but support at 1.1223 should hold.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 21 Jun 2016 09:07GMT

USD/JPY - 104.45
Despite dollar's selloff from yesterday's high of 104.85 to as low as 103.58 at Asian open today, subsequent intra-day rally suggests recent downtrend is not ready to resume yen and further choppy trading above Thursday's 22-month trough at 103.55 would continue, above 104.85 anytime would confirm a temporary low has been made and yield stronger retracement towards 105.55 (previous daily support, now resistance), break would extend towards 106.00 but 106.35/40 should cap upside and yield another decline later.

On the downside, only below 103.55/58 would bring further weakness towards 102.80 and then possibly 102.20/30 but 'loss of momentum' should keep price above 102.00.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 22 Jun 2016 04:09GMT

EUR/USD - 1.1244
Despite euro's rally from last Thursday's low at 1.1131 to 1.1383 in Asian on Monday signals correction from June's peak at 1.1416 has ended there, subsequent selloff to 1.1302 and then 1.1241 in New York yesterday following 'dovish' remarks from ECB's President Mario Draghi signals a temporary top has been made and choppy trading with downside bias for weakness towards 1.1223 and then 1.1179/89 is seen ahead of 23 June referendum.

On the upside, only above 1.1350 would confirm pullback over and bring re-test of 1.1383, break would extend gain to 1.1416 later.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 22 Jun 2016 09:07GMT

USD/JPY - 104.37
Although dollar's rally from 103.58 (Asia) to as high as 105.05 in New York on Tuesday signals Medium Term downtrend has made a temporary low at last Thursday's 22-month trough at 103.55, subsequent intra-day retreat suggests choppy trading is in store but as long as support area at 103.55-58 holds, another leg of correction towards 105.55 is seen but reckon resistance at 106.14 would hold.

On the downside, only a firm break of 103.55-58 would extend weakness to 102.80 and then 102.40/50 but 'loss of momentum' should keep price above 102.00.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 23 Jun 2016 0:00GMT

EUR/USD - 1.1330
Although 'cable-led' rise above yesterday's high of 1.1338 to 1.1348 ahead of Asian open signals euro's pullback from Monday's high of 1.1383 has ended earlier 1.1237 on Tuesday, a break of said temporary high is needed to encourage for a re-test of June's peak at 1.1416, break would confirm erratic upmove from May's 2-month trough at 1.1098 has resumed and yield further headway to 1.1447 and later 1.1481.

On the downside, only below 1.1237 (yesterday's low) would turn near term outlook bearish for subsequent weakness to 1.1179/89 but last week's bottom at 1.1131 (Thursday) should remain intact ahead of the outcome of EU referendum.

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

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

USD/JPY - 104.52
Despite dollar's brief rally to 104.99 ahead of Asian open today, subsequent selloff to 104.05 at European open suggests further choppy trading below Tuesday's high of 105.05 (New York) would continue, however, only a break of last Thursday's 22-month trough at 103.55 would confirm Medium Term downtrend has resumed and yield further weakness to 102.80 and then 102.40/50 but 'loss of momentum' should keep price above 102.00.

On the upside, above 104.98-105.05 would signal a temporary low has been made and bring another leg of correction towards 105.55 but reckon resistance at 106.14 would cap upside.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 24 Jun 2016 03:40GMT

EUR/USD - 1.1200
Despite euro's brief rise above yesterday's fresh 1-month peak at 1.1422 (New York) to 1.1432 in Australia, subsequent intra-day decline to 1.1271 and then 1.1180 in Asian morning due to latest vote count on EU referendum suggests re-test of last week's 1.1131 low may be seen but break is needed to extend weakness to May's bottom at 1.1098.

On the upside, a move back above would bring stronger retracement of early fall from May's 8-month peak at 1.1617 to 1.1481 and then possibly towards 1.1530 before down.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 24 Jun 2016 09:00GMT

EUR/USD - 1.1140
Although euro's intra-day selloff from 1.1432 (AUS) and then breach of May's bottom at 1.1098 due to broad-based weakness in the single currency (except versus the British pound) during vote count for EU referendum signals erratic decline from May's 8-month peak at 1.1617 has resumed, subsequent rebound to 1.1190 in European morning suggests a temporary low has been made and a few days of choppy consolidation would be seen before said fall resumes to next downside objective at 1.0826.

Below 1.1000/08 would indicate recovery over and bring re-test of 1.0912, break, 1.0826.
Only a daily close above 1.1297 would dampen bearishness on euro and may bring subsequent gain towards 1.1432.

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AceTraderFx Jun 27: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 27 Jun 2016 04:00GMT

EUR/USD - 1.1010
Euro's selloff from a 1-month peak at 1.1432 to a fresh 3-month trough of 1.0912 following 'Brexit' outcome signals erratic decline from May's peak at 1.1617 has resumed n despite subsequent intra-day recovery to 1.1190, as long as 1.1230/40 holds, downside bias remains but below 1.0912 needed to extend aforesaid fall towards 1.0840/50.

On the upside, a move back above 1.1230/40 would confirm a low has been made and yield correction to 1.1300 and possibly 1.3160/70 but said 1.1432 resistance should remain intact.

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AceTraderFx Jun 27: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 27 Jun 2016 09:07GMT

USD/JPY - 102.03
Despite Friday's initial selloff from 107.84 to a fresh 29-month trough at 99.00 in Asia following the winning of Brexit vote outcome, subsequent intra-day rebound to 103.25 on short-covering in Europe suggests a Medium Term downtrend has made a temporary low there and a few days of choppy consolidation would be seen.

Below 99.94 needed to confirm recovery over and bring re-test of 99.00, break would extend weakness towards 98.00. On the upside, only above 103.25 would bring stronger retracement towards 106.72 before prospect of a retreat.

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AceTraderFx Jun 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 28 Jun 2016 04:00GMT

EUR/USD - 1.1025
Despite yesterday's anticipated weakness from 1.1084 (Europe) to 1.0971 in New York morning, subsequent rebound suggests further volatile trading above last Friday's 3-month bottom at 1.0912 would continue, as long as 1.1075/85 res holds, downside bias remains, below 1.091 would encourage for re-test of 1.0912.

On the upside, above said res area would dampen present bearish scenario and may risk another bounce to 1.1140/50, however, reckon 1.190 (reaction high from 1.0912) should cap upside and yield another fall later.

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