AceTraderFx : Daily Recommendations on Majors

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 28 Jun 2016 09:15GMT

USD/JPY - 102.12
Despite's dollar's weakness to 101.41 just ahead of New York open yesterday, subsequent bounce to 102.13 and then intra-day brief rise above this level due to recovery in the Nikkie index suggests further volatile trading above last Friday's 29-month bottom at 99.00 would continue and gain to 102.47 can not be ruled out.
However, upside is expected to falter below 103.25 (Friday's reaction high) and yield another fall later.

On the downside, a daily close below 101.41 would suggest aforesaid correction from 99.00 is over, then outlook would turn bearish for weakness to 100.60/65, then 100.00/10.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 29 Jun 2016 04:00GMT

EUR/USD - 1.1055
Euro's erratic rise from 1.0971 (Monday) to 1.1121 in Europe yesterday suggests further 'choppy' trading above last Friday's 3-month bottom at 1.0912 would continue and despite subsequent retreat to 1.1034 in New York session, as long as 1.1000/10 holds, consolidation with mild upside bias remains, above 1.1112 would extend marginal gain but previous res at 1.1180/90 should hold until release of Friday's key U.S. jobs data.

A daily close below 1.1000 would signal correction from 1.0912 has ended, then re-test of this level would be seen later.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 29 Jun 2016 09:15GMT
USD/JPY - 102.39
Although dollar's erratic rise from 101.41 (Monday) to 102.84 in Australia today suggests further volatile price swings above last Friday's 29-month bottom at 99.00 would continue.

Intra-day cross-inspired retreat signals near term downside bias remains, reckon 101.77/82 would hold and bring subsequent rebound, above 102.84 needed to extend gain towards 103.25.

Below 101.77 would risk weakness twd 101.41 but expect 101.00/10 to contain weakness.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 30 Jun 2016 02:20GMT

EUR/USD - 1.1107
Euro's erratic rise from 1.0971 (Monday) to 1.1130 in New York yesterday and then 1.1134 ahead of Asian open today suggests further 'choppy' trading above last Friday's 3-month trough at 1.0912 would continue and as long as support at 1.1034 holds, consolidation with mild upside bias remains, above 1.1134 would extend marginal gain but previous res at 1.1180/90 should hold .

On the downside, a daily close below 1.1034 would signal correction from 1.0912 has ended, then re-test of this level would be seen later.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 30 Jun 2016 09:15GMT

USD/JPY - 102.81
Although dollar's erratic rise from 101.41 (Monday) to 103.05 in Australia today suggests further volatile price swings above last Friday's 29-month bottom at 99.00 would continue, intra-day cross-inspired retreat signals near term downside bias remains, reckon 101.77/82 would hold and bring subsequent rebound, above 102.84 needed to extend gain towards 103.25.

Below 101.77 would yield weakness towards 101.41 but 101.00/10 should contain weakness.

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AceTraderFx Jul 04: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1133
Despite euro's daily wild swings last week, Friday's gain to 1.1170 suggests choppy trading above June's 3-month trough at 1.0912 would continue and above 1.1190 (post-Brexit high) would bring stronger retracement of recent downtrend to 1.1230/40 before prospect of a retreat due to near term loss of upward momentum.

On the downside, below 1.1072 (Fri's low) anytime suggests erratic rise from last week's low at 1.0971 has made a top, then risk is seen for subsequent weakness towards 1.1024.

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AceTraderFx Jul 04: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 04 Jul 2016 09:15GMT

USD/JPY - 102.66
Despite dollar's resumption of erratic upmove from last week's low of 101.41 (Monday) to 103.40 ahead of Asian open last Friday's subsequent weakness to 102.44 and then marginal drop to 102.43 at Asian open today signals aforesaid rise has made a temporary top and consolidation with downside bias is in store, reckon 101.75/80 would contain weakness and yield further choppy trading.

On the upside, only a daily close above 103.05 signals pullback from 113.40 is over and brings another rise to 103.30/40.

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AceTraderFx Jul 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 05 Jul 2016 05:20 GMT

EUR/USD - 1.1133
Despite intra-day rebound from 1.1098 (Europe) to as high as 1.1164 near holiday-thinned North American close, euro's retreat in Asia today suggests choppy trading below last Friday's 1.1170 high would continue and below 1.1098 would confirm near term erratic rise from last week's 1.0971 low (Mon) has made a top, then weakness towards 1.1024 chart objective may be seen later.

On the upside, only above 1.1170 would bring test of post-Brexit high of 1.1190 but only break there is needed to turn outlook bullish for a stronger retracement of medium-term downtrend to 1.0237/42.

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AceTraderFx Jul 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 06 Jul 2016 05:02 GMT

EUR/USD - 1.1043
Despite yesterday's brief jump to session high of 1.1186 in early European trading, intra-day broad-based strength in the greenback (except vs the yen) in New York session and subsequent weakness to 1.1063 near Tuesday's close suggests euro's recent 'gyrations' would continue inside early established broad range of 1.0912-1.1190 and downside bias remains for weakness to 1.1024 after consolidation, near term o/sold condition is expected to keep price above pivotal sup at 1.0971.

On the upside, only above 1.1120/30 would dampen intra-day bearish view on euro and risk stronger gain but 1.1170/80 should cap upside and yield another fall later this week.

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AceTraderFx Jul 06: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 06 Jul 2016 10:16 GMT

USD/JPY - 100.93
Dollar's selloff from last Friday's high of 103.40 to as low as 100.58 in Asia today suggests correction from June's 29-month trough at 99.00 has ended there and consolidation with downside bias remains.
However, a daily close below 99.94 is needed to confirm this view and bring resumption of Medium Term downtrend to re-test said support and then 98.00 'later'.

On the upside, only above 102.40/50 would indicate pullback from 113.40 is over instead and bring another rise to 103.30/40, break, 104.00/10.

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AceTraderFx Jul 07: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 07 Jul 2016 04:08 GMT

EUR/USD - 1.1091
Despite yesterday's resumption of decline from this week's high of 1.1186 (Tuesday) to as low as 1.1029 in New York morning, subsequent strong bounce to 1.1112 suggests euro's recent 'gyrations' inside early broad range of 1.1190-1.0971 would continue, at least until release of Fri's key U.S. payrolls data.

As long as 1.1024/29 sup area holds, mild upside bias but only above 1.1186/90 res would extend erratic rise from June's 3-month bottom at 1.0912 towards 1.1237.
Below 1.1024/29 sup would shift risk to downside for weakness towards pivotal sup at 1.0971.

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AceTraderFx Jul 07: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 07 Jul 2016 09:50 GMT

USD/JPY - 101.01
Dollar's selloff from last Friday's high of 103.40 to as low as 100.20 in Europe yesterday suggests correction from June's 29-month trough at 99.00 has ended there.
However, yesterday's intra-day rebound to 101.47 (New York) indicates further consolidation would be seen.

A daily close below 99.94 is needed to bring re-test of 99.00 and then resumption of Medium Term downtrend towards 98.00 'later'.

On the upside, only above 102.40/50 would indicate pullback from 113.40 is over instead and bring another rise to 103.30/40, break, 104.00/10.

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AceTraderFx Jul 08: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 08 Jul 2016 05:06 GMT

EUR/USD - 1.1071
Euro's daily swings seen in last 2 week following early rebound from June's post-Brexit 3-month bottom at 1.0912 may continue even after release of key U.S. jobs data later today.
However, this week's decline from 1.1186 to 1.1029 (Wednesday) suggests consolidation with downside bias remains, a daily close below pivotal sup at 1.0971 is needed to retain bearish prospect of a re-test of 1.0912 next week.

On the upside, above 1.1220/30 would risk another rise towards strong res at 1.1186/90 where only a break there would abort bearishness on euro and shift risk to upside for stronger retracement towards 1.1237 instead.

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AceTraderFx Jul 08: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 08 Jul 2016 10:00 GMT

USD/JPY - 100.61
Dollar's selloff from last Friday's high of 103.40 to as low as 100.20 in Europe on Wednesday suggests correction from June's 29-month trough at 99.00 has ended there and as price has retreated again after recovering to 101.47, choppy trading with downside bias remains but a daily close below 99.84/94 is needed to bring re-test of 99.00 and then resumption of Medium Term downtrend towards 98.00 'later'.

On the upside, only above 102.40/50 would indicate pullback from 113.40 is over instead and yield another rise to 103.30/40, break, 104.00/10.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 11 Jul 2016 05:18 GMT

EUR/USD - 1.1048
Despite Friday's volatile trading immediately after release of upbeat U.S. jobs data, as euro had fallen after intra-day brief rebound from 1.1002 to as high as 1.1120, choppy consolidation with downside bias is seen, below said Friday's 1.1002 low would extend erratic fall from last week's 1.1186 top towards daily pivotal sup at 1.0971.

On the upside, only above 1.1120 would 'prolong' recent 'gyrations inside established broad range of 1.1190-1.0971 and may risk stronger gain to 1.1150/60 but 1.1186 should cap upside.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 11 Jul 2016 09:11 GMT

USD/JPY - 101.98
Although dollar's near term selloff from 103.40 to as low as 100.00 last Friday signals correction from June's 29-month trough at 99.00 has ended there, intra-day rally to 102.13 following BoJ's official signals more stimulus from the central bank suggests further choppy sideways trading would continue but reckon 103.40 would remain intact.

On the downside, only below 99.84/94 would retain bearishness for a re-test of 99.00 and then resumption of MT downtrend towards 98.00 'later'.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 12 Jul 2016 04:08 GMT

EUR/USD - 1.1055
Despite yesterday's intra-day rebound from European low of 1.1016 to 1.1075 in New York morning, subsequent narrow move and subdued New York afternoon session suggests euro would continue to move inside last Friday's 1.1002-1.1120 broad range with a neutral bias.

As long as indicated upper level holds, decline from from last week's 1.1186 high may resume later today or tomorrow to 1.0985/95 whilst above said 1.1120 res would risk stronger gain to 1.1145/55 but 1.1186 should remain intact.

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AceTraderFx Jul 12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 12 Jul 2016 10:09 GMT

USD/JPY - 103.04
Although dollar's rally from last Friday's low at 100.00 and then intra-day rally above last week's 103.40 high signals erratic upmove from June's 29-month trough at 99.00 to retrace Medium Term downtrend has resumed and further gain towards 104.40/50 may be seen, reckon price would falter well below 105.55 (previous sup, now res) and yield retreat later.

On the downside, only below 101.40/50 would indicate a temporary top has been made and bring weakness towards 100.60/70 but support at 100.00 should remain intact.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 13 Jul 2016 05:09 GMT

EUR/USD - 1.1060
Although yesterday's initial rise in Europe and then a brief break of last Fri's post-NFP high of 1.1120 confirms decline from last week's peak at 1.1186 (Wednesday) has made a low at 1.1002, subsequent intra-day erratic decline in New York session, then in Asia today suggests recent daily price swings inside early broad range of 1.1186-1.0971 would continue.

As long as 1.1120/26 res holds, consolidation with downside bias remains for further fall today.
However, sup area at 1.1002/16 should contain weakness and bring another bounce later today or tomorrow.

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

DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 13 Jul 2016 10:08 GMT

USD/JPY - 104.23
Although dollar's rally from last Friday's low at 100.00 and then yesterday breach of res at 103.40 to as high as 104.99 signals erratic upmove from June's 29-month trough at 99.00 to retrace Medium Term downtrend has resumed, subsequent retreat suggests a few days of choppy trading would be seen before said move yield further headway towards 105.55 (previous sup) but reckon 106.20/30 would cap upside.

On the downside, only below 102.45 would confirm a top has been made and bring weakness towards 101.00 but support at 100.00 should remain intact.

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