AceTraderFx: Daily Market Outllook on Major -EUR/USD

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AceTraderFx Jul 18: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 18 Jul 2016 05:12GMT

EUR/USD - 1.1060
Euro's intra-day selloff from 1.1149 (Europe) to 1.1053 after release of upbeat U.S. economic data and then brief drop to 1.1025 near New York close on news of a military coup in Turkey confirms near term erratic rise from 1.1002 has ended at 1.1165 (Thursday) and downside bias remains.
However, as daily outlook remains broadly consolidative, reckon pivotal sup at 1.0971 would remain intact.

Expect 1.1098 (previous sup, now res) to cap recovery in Asia and yield marginal decline decline below said Friday's low and only above 1.1100/10 may risk stronger gain to 1.1130/40 before prospect of another fall.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 20 Jul 201601:20 GMT

EUR/USD - 1.1006
Yesterday's brief break of July's 1.1002 low to 1.1000 in New York after upbeat U.S. housing data should pressure euro towards indicated daily pivotal sup at 1.0971, a daily close below this level would confirm early correction from June's 3-month bottom at 1.0912 has ended, then weakness towards this key sup would be seen later this week.

Expect 1.1050/60 to cap intra-day recovery and yield further weakness, above there would abort present bearish scenario on euro and risk stronger retracement towards 1.1084.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 21 Jul 2016 05:01 GMT

EUR/USD - 1.1022
Despite euro's recovery in Wed's New York session after intra-day resumption of recent erratic decline to a 3-week trough of 1.0982 in early European trading and consolidation is seen ahead of ECB's monetary policy meeting decision and then ECB President Draghi's post-meeting press conference, as long as 1.1084 res holds, weakness to daily pivotal sup at 1.0971 is expected where a daily close below this level would bring re-test of Jun's 3-month bottom at 1.0912.

On the upside, above 1.1084 would suggest euro's daily swings in last 3 weeks inside early broad range of 1.1186-1.0971 would continue, then risk is seen for another rise to 1.1126/29 but 1.1165 (last week's high) should remain intact.

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AceTraderFx Jul 25: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 25 Jul 2016 03:02 GMT

EUR/USD - 1.0970
Friday's brief break of indicated daily pivotal sup at 1.0971 to 1.0955 in New York session following upbeat U.S. data and later news of shooting in Munich suggests a 'downside break' of recent 1-month long broad consolidation has occured and re-test of June's 3-month trough at 1.0912 is in the cards after consolidation.

Expect 1.1000/10 to hold for this move n only above there would 'prolong' recent daily wild swings and may risk another rise towards 1.1030/40 later.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 26 Jul 2016 04:06 GMT

EUR/USD - 1.0992
Although euro's intra-day erratic rise from Monday's 1-month low at 1.0952 (Asia) to 1.0999 in New York suggests recent decline has made a temporary low there n consolidation is in store, as long as 1.1000/140 holds.
Outlook remains mildly bearish for weakness towards June's 3-month bottom at 1.0912 which should hold on 1st testing due to loss of momentum.
On the upside, a daily close above 1.1000 would prolong recent daily price swings and shift risk to upside for gain towards 1.1041, however, reckon res at 1.1060 would hold.

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AceTraderFx Jul 27: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
27 Jul 2016 03:16GMT

EUR/USD - ..... The euro is a difficult animal to trade and has probably frustrated both bears and bulls in recent several trading sessions.
Despite a surprise pop up above Monday's high at 1.0999 ahead of European yesterday to 1.1030 after tripping stops above 1.1000, news of an attack in France quickly led to broad-based euro selling, price retreated and later fell back to 1.0978 in New York morning before moving narrowly in New York afternoon.
Although range trading is expected to continue, pay attention to a slew of eco. data in European morning starting off with German import/export prices, Gfk consumer confidence index, then French PPI n consumer confidence n later Italy's business and consumer confidence.
Bids are noted at 1.0980-70 with stops below there, more stops are touted below 1.0950.
However, there is talk of good buying interest above 1.0910. Offers are tipped at 1.1010/20 and more above with stops reported above 1.1030.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 28 Jul 2016 04:27 GMT

EUR/USD - 1.1067
Euro's spectacular rally yesterday from post-FOMC low at 1.0961 in New York to as high as 1.1076 in Australia earlier today has reinforced our previous view recent erratic decline has indeed formed a temporary low at Monday's 1-month trough at 1.0952 and consolidation with upside bias remains for further gain to 1.1120/30.
However, near term overbought condition would cap price well below res at 1.1165.

Expect 1.1030 (previous res, now sup) to hold for this move and only a daily close below there may risk stronger pullback but reckon 1.0978 would remain intact and yield another rise.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 29 Jul 2016 04:37 GMT

EUR/USD - 1.1079
Yesterday's follow-through buying of euro in Asia and then in Europe to as high as 1.1120 after Fed left rate unchanged on Wednesday suggests upmove from this week's bottom at 1.0952 (Monday) would resume after consolidation and reckon 1.1030 (previous res, now sup) would contain pullback and yield further headway to 1.1140/50.
However, as broad outlook remains 'consolidative', res at 1.1186/90 should cap upside.

On the downside, only a daily close below 1.1030 may risk stronger retracement of aforesaid rise to 1.0998/1.1008 before prospect of another upmove next week.

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AceTraderFx Aug 01: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 1 Aug 2016 04:03 GMT

EUR/USD - 1.1167
Last Friday's anticipated rally above 1.1120 (now sup) and then res at 1.1190 (June's post-Brexit high) to 1.1197 after downbeat U.S. GDP confirms medium-term downtrend from 1.1617 (May high) has indeed formed a low earlier at 1.0912 in June and outlook remains supportive for further headway to 1.1230/40 after consolidation, near term loss of momentum should prevent strong gain above indicated target today.
On the downside, only below 1.1120 signals temporary high is in place, then risk would shift to the downside for retracement to 1.1095/00, however, reckon 1.1060/68 should remain intact and bring another rebound.

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AceTraderFx Aug 02: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 02 Aug 201603:52 GMT

EUR/USD - 1.1167
Despite yesterday's narrow movement following last Friday's spectacular rally above previous res at 1.0120 (now sup) to a near 4-week peak of 1.1197, as 1.1154/57 has contained pullback, outlook remains bullish for recent upmove to resume after initial consolidation.
However, near term loss of upward momentum would prevent strong gain and reckon 1.3237 would cap upside.

On the downside, only a daily close below 1.1154 signal temporary top is in place, then risk would shift to downside for a retracement to 1.1120, break may extend towards 1.1068/73 later this week.

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