AceTraderFx : Daily Recommendations on Majors

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 30 Sep 2016 05:14 GMT

EUR/USD - 1.1210
Although yesterday's anticipated rebound from 1.1197 to 1.1250 in New York session suggests euro's correction from this week's 1.1279 high has ended earlier at 1.1182 (Wednesday), subsequent intra-day choppy sideways swings suggest consolidation is in store before prospect of another rise, above 1.3250 is needed to retain bullishness for subsequent gain towards 1.3279.

A break below indicated sup at 1.1182 would risk stronger retracement towards 1.1149/50 but September's 5-week trough at 1.1121 should remain intact.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 30 Sep 2016 09:32 GMT

USD/JPY - 101.08
Dollar's intra-day wild swings which started in Asia suggests early correction from Tuesday's 1-month bottom has made a top yesterday at 101.84 (New York) and choppy consolidation is expected to continue, as long as 101.40/50 holds, near term downside bias remains for weakness towards 100.45/50 later today due to anticipated renewed yen-buying on risk aversion, however, reckon 100.20 would hold from here.

Only above 101.79/84 res would bring stronger retracement of recent decline from September's 104.32 high to 102.20 (50% r) before prospect of another strong retreat early next week.

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AceTraderFx Oct 3: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 03 Oct 2016 04:28 GMT

EUR/USD - 1.1230
Despite Fri's decline to a 1-week low of 1.1153 on continued market woes over Deutsche Bank which had led to broad-based euro weakness in European trading, the single currency's rally to 1.1251 due to intra-day spectacular jump in DB share price in New York morning suggests correction from last week's high at 1.1279 (Mon) has ended and consolidation with upside bias is in store. Above said res would encourage for subsequent gain to 1.1300/10.

On the downside, only below 1.1182 would dampen current bullish scenario on euro and yield further sideways swings but reckon 1.1153 should remain intact.

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AceTraderFx Oct 3: Daily Recommendations on Major -USD/JPY

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 03 Oct 2016 09:14 GMT

USD/JPY - 101.41
Although dollar's cross-inspired rebound from 100.75 (Friday) to 101.65 today suggests correction from 101.84 top has ended and consolidation is expected before near term rise from last Tuesday's 1-month trough at 100.09 to retrace recent decline heads to 102.20 later, however, 'loss of momentum' should prevent strong gain and reckon res at 102.78 should remain intact.

Expect 100.75 sup to hold for this move and only below this level dampens bullishness on dollar, risks 100.45/50 before prospect of another rebound later this week.

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AceTraderFx Oct 4: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 04 Oct 2016 05:02 GMT

EUR/USD - 1.1204
Despite euro's sterling-led retreat in New York session yesterday, as early rally from last Friday's 1.1153 trough to as high as 1.1251 suggests correction from last week's high at 1.1279 (Monday) has ended there, outlook remains supportive for gain to 1.1260/65 after consolidation.
However, 1.1279 would hold on 1st testing due to loss of near term upwards momentum.

On the downside, only below 1.1182 would dampen present bullish scenario on euro and risk marginal weakness, however, 1.1153 low should remain intact and yield another rebound later this week.

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

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

EUR/USD - 1.1210
Despite euro's sterling-led weakness to 1.1138 in New York, intra-day 'jump' to as high as 1.1239 on media report of ECB is considering a tapering down of its QE programme suggests price would remain confined inside recent broad range of 1.1327-1.1121 and as long as 1.1172/77 holds, consolidation with mild upside bias remains for marginal gain to 1.1250/51, however, reckon last week's high at 1.1279 would cap present euro's upmove.

On the downside, below 1.1151/53 would shift risk to downside for re-test of 1.1138 and then 1.1121.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 06 Oct 2016 01:36 GMT

EUR/USD - 1.1204
Despite yesterday's retreat from 1.1233 (Europe) to 1.1190 in New York after upbeat U.S. ISM services data, as euro's early rally from 1.1138 to as high as 1.1239 on Tuesday suggests recent decline from 1.1279 has made a low there, consolidation with mild upside bias remains ahead of Friday's key U.S. jobs data.
As long as 1.1153/58 holds, gain towards 1.1250 is still envisaged.

A daily close below 1.1153 would shift risk to the downside for weakness towards September's bottom at 1.1121.

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

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

USD/JPY - 103.66
Dollar's rally to 103.66 yesterday and intra-day break of this level confirms recent decline from 104.32 (September high) has indeed ended earlier at 100.09 last week and consolidation with upside bias remains for further headway towards next chart obj. at 103.81.
However, overbought condition would prevent strong gain and reckon 104.32 would hold on 1st testing.

On the downside, only below 101.84 signals top is in place and may risk stronger pullback to 101.45/502 but 101.16 should contain weakness.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 07 Oct 2016 05:24 GMT

EUR/USD - 1.1130
Yesterday's weakness to 1.1141 after robust U.S. jobless claims and intra-day sterling-led marginal break of September's low at 1.1121 to 1.1118 in Asia suggests recent erratic decline from 1.1366 (August) to retrace euro's medium-term upmove from 1.0912 (June) has finally resumed and price is en route to 1.1085 (61.8% r), then towards next chart obj. at 1.1046 (especially if key U.S. payrolls released later today turns out to be stronger than market forecast).

On the upside, only above 1.1190 (Wednesday's low, now res) would be the first signal a temporary low is in place and may risk stronger gain to 1.1220/30.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 11 Oct 2016 05:02 GMT

EUR/USD - 1.1133
Despite Friday's rally from European 7-week trough of 1.1104 to 1.1205 in New York morning following soft U.S. data, yesterday's stronger-than-expected retreat to 1.1131 suggests aforesaid correction has possibly ended there and consolidation with downside bias remains, below 1.1104 needed to extend Medium Term fall towards 1.1085 later.

On the upside, above 1.1185 would be the 1st first signal pullback is over and revives previous upside bias for re-test of 1.1205.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 11 Oct 2016 09:12 GMT

USD/JPY - 103.94
Despite the greenback's fall to 102.81 yesterday, subsequent rally to 103.78 and intra-day break of this level to 104.07 confirms the pullback from last Thursday's high at 104.16 has ended there and consolidation with upside bias remains for recent upmove to resume and above 104.16 would bring re-test of September's high at 104.32, break would yield 104.87/90 later.

On the downside, only below 102.81 would indicate a temporary top has been made and risk would increase for a stronger retracement to 102.46/50.

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

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DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 12 Oct 2016 05:13 GMT

EUR/USD - 1.1048
Yesterday's selloff below last Friday's low at 1.1104 (now res) to a 2-month trough of 1.1049 in New York due to broad-based gain in the greenback (except vs yen) confirms recent erratic fall from 1.1366 (August high) would resume after consolidation, near term loss of momentum may keep price initially above 'psychological' sup at 1.1000 and bring a much needed minor correction later today or tomorrow.

On the upside, only a daily close above 1.1104 would signal temporary low is in place and may risk stronger retracement towards 1.1147/48 before prospect of another decline later this week.

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

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DAILY MARKET OUTLOOK on Major USD/JPY
Update Time: 12 Oct 2016 09:14 GMT

USD/JPY - 103.50
Despite the greenback's fall to 102.81 Monday, subsequent rally to 103.78 and yesterday's break of this level to 104.07 confirms the pullback from last Thursday's high at 104.16 has ended there and consolidation with upside bias remains for recent upmove to resume and above 104.16 would bring re-test of September's high at 104.32, break would yield 104.87/90 later.

On the downside, only below 102.81 would indicate a temporary top has been made and risk would increase for a stronger retracement to 102.46/50.

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AceTraderFx Oct 13: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 13 Oct 2016 05:19 GMT

EUR/USD - 1.1008
Yesterday's resumption of recent decline to a 9-week trough of 1.1005 in New York morning suggests euro would remain under pressure and extend weakness to 1.0965/75 after initial consolidation, however, near term 'loss of downward momentum' should keep price well above medium-term key sup at 1.0912 (June low) this week and risk has increased for a much-needed minor correction to take place later today or tom (tomorrow).

On the upside, only a break of 1.1070 res signals temporary low has been made and yield stronger retracement towards 1.1104.

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AceTraderFx Oct 13: Daily Recommendations on Major USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 13 Oct 2016 09:01 GMT

USD/JPY - 103.85
Despite the greenback's rally to a fresh 2-month high at 104.64 at Asian open today, subsequent selloff to as low as 103.56 suggests recent erratic uptrend has formed a temporary top there and choppy trading with downside bias would be for minor retracement towards 103.28/29, then 103.18.
However, as broad-outlook remains consolidative, reckon support at 102.81 would remain intact and yield rebound.

On the upside, only above 104.48 would indicate said pullback is over and yield resumption of upmove from August's low at 99.54 for a re-test of 104.64, break, 104.84 later.

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AceTraderFx Oct 14: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 14 Oct 2016 04:02 GMT

EUR/USD - 1.1055
Although euro's intra-day rally from yesterday's 10-week trough of 1.0985 (Europe) confirms recent decline from 1.1366 (August) has indeed made a temporary low there and 1-2 days of consolidation is in store, as long as 1.1070/80 holds, outlook remains mildly bearish for marginal weakness, 'loss of downward momentum' should keep price well above key daily chart sup at 1.0912.

A daily close above 1.1070 would signal aforesaid decline has made a low, then risk would shift to the upside for stronger retarcement to 1.1104, then 1.1130/35 next week.

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AceTraderFx Oct 14: Daily Recommendations on Major USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 14 Oct 2016 09:07 GMT

USD/JPY - 104.24
Despite the greenback's rally to a fresh 2-month high at 104.64 at Asian open today, subsequent selloff to as low as 103.56 suggests recent erratic uptrend has formed a temporary top there and choppy trading with downside bias would be for minor retracement towards 103.28/29, then 103.18.
However, as broad-outlook remains consolidative, reckon support at 102.81 would remain intact and yield rebound.

On the upside, only above 104.48 would indicate said pullback is over and yield resumption of upmove from August's low at 99.54 for a re-test of 104.64, break, 104.84 later.

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AceTraderFx Oct 17: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 17 Oct 2016 05:20 GMT

EUR/USD - 1.0971
Euro's resumption of recent downtrend to a fresh 10-week trough of 1.0970 near Friday's New York close, then to 1.0964 in Asia today suggests price would remain under pressure and head to key daily sup at 1.0912 (June's low) after consolidation, oversold condition is likely to prevent steep fall today and reckon 1.0880/85 would contain weakness.

Expect 1.1025/30 to hold and yield aforesaid decline and only above 1.1060 (Friday's high in Australia) would dampen present bearish scenario on the euro.

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AceTraderFx Oct 17: Daily Recommendations on Major USD/JPY

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DAILY MARKET OUTLOOK
Update Time: 17 Oct 2016 09:29 GMT

USD/JPY - 104.19
Despite the greenback's rally to a fresh 2-month high at 104.64 at Asian open last Thursday, subsequent selloff to as low as 103.34 suggests recent erratic uptrend has formed a temporary top there and choppy trading with downside bias would be for minor retracement towards 103.28/29, then 103.18.
However, as broad-outlook remains consolidative, reckon support at 102.81 would remain intact and yield rebound.

On the upside, only above 104.48 would indicate said pullback is over and yield resumption of upmove from August's low at 99.54 for a re-test of 104.64, break, 104.84 later.

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AceTraderFx Oct 18: Daily Recommendations on Major EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 18 Oct 2016 05:10 GMT

EUR/USD - 1.0921
Euro's intra-day break of yesterday's 1.1008 high (New York) after resumption of recent decline to a 10-week trough of 1.0964 suggests temporary low has been made and 1-2 days of consolidation with near term upside bias is seen for a long-overdue minor retracement to 1.1060.
However, reckon 1.1104 (previous low, now res) should remain intact.

On the downside, below 1.0985 would signal correction is over, then weakness towards key daily sup at 1.0912 (June's low) would follow.

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