AceTraderFx : Daily Recommendations on Majors

AceTraderFx Sept 7: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 07 Sep 2016 04:33 GMT

EUR/USD - 1.1246
Euro's spectacular rally above 1.1182 res and then last Fri's post-NFP high of 1.1252 to 1.1263 in New York morning due to usd's broad-based weakness after key U.S. ISM non-manufacturing PMI index fell to its lowest in 6 years suggests early erratic fall from Aug's 6-week peak at 1.1366 has indeed formed a low last week at 1.1123 and as long as 1.1205/08 holds, consolidation with upside bias remains for further headway towards 1.1300.
However, overbought condition should cap price well below res at 1.1341.

On the downside, only below 1.1200 signals aforesaid correction from 1.1123 has ended, then risk would shift to the downside for subsequent weakness towards 1.1140 later this week.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 08 Sep 2016 04:21 GMT

EUR/USD - 1.1243
Euro's anticipated marginal gain to 1.1271 yesterday confirms recent erratic fall from 1.1366 (August high) has made a low last week at 1.1123 and consolidation with mild upside is seen ahead of ECB's monetary policy announcement ECB President Drgahi's press conference later today.
As long as 1.1200/10 holds, gain to 1.1300/10 is likely but said August's peak at 1.1366 should cap upside.

Below 1.1200 would confirm aforesaid rise from 1.1123 has ended and risk would shift to the downside for weakness towards 1.1140/50 later.

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AceTraderFx Sept 9: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 09 Sep 2016 04:19 GMT

EUR/USD - 1.1272
Despite yesterday's resumption of recent upmove in Europe on broad-based buying of euro and then to 1.1327 after ECB kept its monetary policy unchanged, subsequent strong retreat in New York session due to usd's rebound vs its major peers suggests further volatile trading below August's -week peak at 1.1366 would continue with near term downside bias.

On the downside, below previous sup at 1.1229 would risk stronger retracement towards 1.1182 whilst a move back above 1.1300 is needed to revive bullish prospect of another rise towards 1.1327.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 12 Sep 2016 04:18 GMT

EUR/USD - 1.1237
Although dollar's decline to 1.1199 in New York morning on Friday following hawkish comments by Fed's Rosengren confirms upmove from last week's low at 1.1123 has ended at 1.1327 (Thur), subsequent rebound and intra-day gain in Asia led by initial fall in usd/yen ahead of Asian open suggests consolidation is in store.

As long as Friday's 1.1285 top holds, downside bias remains but below 1.1199 needed to extend subsequent weakness to 1.1170/80. Above 1.1285 would risk stronger gain to 1.1300/10 but reckon 1.1327 would hold from here.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 13 Sep 2016 04:37GMT

EUR/USD - 1.1230
Yesterday's 'roller-coaster' moves in hectic Monday's session following decline from last week's high of 1.1327 to 1.1199 (Friday) are expected to continue and as long as 1.1285 res holds, consolidation with downside bias remains for a stronger retracement of early erratic rise from 1.1123 to 1.1182.
However, reckon 1.1250/60 would contain weakness and bring rebound later this week.

On the upside, only above 1.1285 suggests pullback from 1.1327 has ended, then risk would shift to the upside for stronger gain towards said res level.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 13 Sep 2016 09:07 GMT

USD/JPY - 101.81
Despite the greenback's rise to 103.06 last Friday, subsequent retreat suggests the recovery from last Wednesday's low at 101.21 has possibly ended there and choppy trading with downside bias would be seen for weakness towards 101.40/45, below would confirm this view and yield re-test of aforesaid support.

On the upside, only above 103.06 would revive bullishness for gain towards 103.81 but September's peak at 104.32 would hold on first testing and yield retreat later this week.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 14 Sep 2016 5:02 GMT

EUR/USD - 1.1215
Euro's daily swings in last 2 daily session following early decline from last week's high at 1.1327 to 1.1199 (Friday) are expected to continue.
However, as aforesaid fall signals recent upmove from 1.1121 has made a top there, anticipated broad-based usd's strength should pressure the single currency to 1.1150/60 after consolidation.

On the upside, only above 1.1260/68 res would dampen near term bearish scenario and may risk stronger gain to 1.1285/95, however, said last week's peak at 1.1327 should remain intact.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 14 Sep 2016 09:47 GMT

USD/JPY - 102.93
The greenback's intra-day rally and subsequent breach of previous resistance at 103.06 confirms decline from September's peak at 104.32 has ended at 101.21 last Wednesday and choppy trading with upside bias would be seen for gain towards 103.81, then 104.00.
However, aforesaid top should hold on first testing and yield retreat later this week.

On the downside, only below 101.42 would indicate above mentioned recovery has ended and risk re-test of 101.21, break would yield stronger retracement to 100.90/95.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 15 Sep 2016 05:10 GMT

EUR/USD - 1.1246
Despite yesterday's brief jump to 1.1274 in New York morning, subsequent retreat suggests euro's sideways swings in last 3 daily sessions are likely to continue and as long as previous res at 1.1285 holds, another retreat is expected later but as price remains confined inside early established broad range of 1.1327-1.1199, below lower level is needed to extend subsequent weakness to 1.1150/60.

On the upside, a firm rise above 1.1285 would risk stronger gain to 1.1300/10 but reckon indicated upper level at 1.1327 would continue to hold from here today.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 15 Sep 2016 09:14 GMT

USD/JPY - 102.39
The greenback's intra-day rally and subsequent breach of previous resistance at 103.06 confirms decline from September's peak at 104.32 has ended at 101.21 last Wednesday and choppy trading with upside bias would be seen for gain towards 103.81, then 104.00.
However, aforesaid top should hold on first testing and yield retreat later this week.

On the downside, only below 101.42 would indicate above mentioned recovery has ended and risk re-test of 101.21, break would yield stronger retracement to 100.90/95.

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AceTraderFx Sept 19: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 19 Sep 2016 09:12 GMT

USD/JPY - 101.75
Despite the greenback's strong rebound from last Tuesday's low at 101.42 to 103.36 last Wednesday, subsequent strong retreat suggests the recovery from September's low at 101.21 has ended there and choppy trading with downside bias would be seen for weakness towards 101.42, below would confirm this view and yield re-test of 101.21 later this week.

On the upside, only above 102.59 would indicate the pullback from 103.36 has ended instead and turn outlook bullish for gain towards 103.06.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 20 Sep 2016 09:29 GMT

USD/JPY - 101.73
Despite the greenback's strong rebound from last Tuesday's low at 101.42 to 103.36 last Wednesday, subsequent strong retreat suggests the recovery from September's low at 101.21 has ended there and choppy trading with downside bias would be seen for weakness towards 101.42, below would confirm this view and yield re-test of 101.21 later this week.

On the upside, only above 102.59 would indicate the pullback from 103.36 has ended instead and turn outlook bullish for gain towards 103.06.

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

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

EUR/USD - 1.1152
Despite yesterday's short-covering brief rise above 1.1198 res to 1.1213 in early European trading, subsequent decline to 1.1147 (Reuters) near New York close suggests euro is en route to key daily sup at 1.1123 after consolidation, loss of downward momentum is likely to keep price above sup at 1.1084 ahead of Fed's rate decision later in the day.

On the upside, only above 1.1198 signals temporary low is in place and risks re-test of 1.1213, break would risk stronger retracement of recent decline towards 1.1250/53.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 22 Sep 2016 04:08 GMT

EUR/USD - 1.1200
Despite yesterday's anticipated resumption of recent decline from September's 1.1366 high to a 1-month trough of 1.1121 ahead of European open, euro's subsequent rally in post-FOMC New York session to 1.1197, then intra-day break of this level at Asian open today signals aforesaid fall has made a temporary low and 1-2 days of consolidation with upside bias is in store.

Expect 1.1155/60 to hold and bring further gain towards 1.1250/53.
However, near term o/bough condition should cap price below previous res at 1.1184/85.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 22 Sep 2016 09:01 GMT

USD/JPY - 100.65
Despite intra-day resumption of decline from September's peak at 104.32 to 100.10 at Asian open, subsequent rebound suggests a temporary low has possibly been made and choppy trading with mild upside bias would be seen.
However, 101.02 (previous support, now resistance) would hold and yield retreat later today.

On the downside, only below 100.10 would revive bearishness for further weakness towards 100.65/70.
Having said that, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later.

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AceTraderFx Sept 26: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 26 Sep 2016 04:02 GMT

EUR/USD - 1.1235
Friday's rebound from 1.1193 to 1.1240 (New York) strongly suggests euro's pullback last week's 1.1257 (Thursday) high has ended and near term upmove from Wednesday's 5-week bottom would head to 1.1284/85 after consolidation.
However, loss of upward momentum should prevent strong gain today and reckon 1.1300/10 would cap upside.

Only below 1.1193 sup dampens present bullish scenario on euro and may risk stronger retracement of aforesaid rise to 1.1160/70 before prospect of a rebound later this week.

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AceTraderFx Sept 26: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 26 Sep 2016 09:17 GMT

USD/JPY - 100.60
Despite last week's resumption of decline from September's peak at 104.32 to 100.10 Thursday, subsequent strong rebound to 101.24 Friday suggests a temporary low has possibly been made and choppy trading with mild upside bias would be seen.
However, 101.58 (previous support, now resistance) would hold and yield retreat later today.

On the downside, only below 100.10 would revive bearishness for further weakness towards 100.65/70.
Having said that, loss of momentum would prevent steep fall below there and risk would increase for a much-needed correction later.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 27 Sep 2016 04:02 GMT

EUR/USD - 1.1244
Yesterday's anticipated resumption of near term upmove from last Wed's 5-week trough of 1.1121 to 1.1279 (
New York) following release of upbeat German Ifo data suggests early erratic fall from 1.1366 (Aug's high) has ended and although intra-day retreat in Asia signals consolidation is in store before prospect of further gain, 'loss of momentum' is likely to limit upside to 1.1300/10 and bring pullback.

Expect 1.1221 sup to hold for aforesaid move and only below 1.1193 (Friday's low) dampens bullishness on euro and may risk stronger retracement to 1.1168/73.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 27 Sep 2016 09:20 GMT

USD/JPY - 100.54
Despite intra-day 1-tick break of last Thursday's 1-month trough at 100.10, subsequent rally to 100.99 suggests a minor low has possibly been made there and choppy trading with upside bias would be seen.
However, above resistance at 101.24 is needed to add credence to this view and yield stronger retracement of medium-term decline towards 101.58/60 before prospect of another retreat.

On the downside, only below 100.09 would revive bearishness for weakness towards 99.70/80.
However, near term loss of momentum would keep price above key daily support at 99.54 and yield correction.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 29 Sep 2016 04:07 GMT

EUR/USD - 1.1227
Despite euro's roller-coaster moves after staging a rebound from yesterday's 1.1182 low (Europe) to 1.1237, intra-day firmness suggests pullback from Monday's 1.1279 high has ended and outlook remains supportive for near term rise from last Wednesday's 5-week trough at 1.1121 to head to 1.1300 after consolidation.
However, 'loss of upward momentum' should cap price below daily res at 1.1327 today and risk has increased for a stronger correction to take place later.


On the downside, only below 1.1182 aborts present bullish scenario on euro and may yield weakness to 1.1149/50 but 1.1121 low should remain intact.

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