AceTraderFx: Daily Market Outllook on Major -EUR/USD

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AceTraderFx Aug 03: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 03 Aug 2016 04:23 GMT

EUR/USD - 1.1214

Yesterday's anticipated rally above last Friday's 1.1197 high (now sup) to a 6-week peak of 1.1237 in New York due to broad-based usd's weakness suggests recent upmove from 1.0912 (June's low) would resume after initial consolidation, near term weakening of upward momentum should prevent strong gain and reckon upside would falter below 1.1300 and bring a much-needed minor correction later today or tomorrow.

Below 1.1187 (New York low) signals a temporary top is in place, then risk is seen for a stronger retracement to 1.1154/57 sup before prospect of another rise later this week.

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

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

EUR/USD - 1.1145
Although yesterday's break of indicated sup at 1.1154/57 confirms euro's recent rise from June's 3-month trough at 1.0912 has indeed formed a temporary top on Tuesday at 1.1234 and consolidation with near term downside bias remains ahead of Friday's key U.S. jobs data, near term oversold condition is likely to prevent steep fall below 1.1110/20 and another rebound is envisaged later today.

On the upside, above 1.1187/90 would be the first signal aforesaid pullback is over but above 1.1205/09 res is needed to bring re-test of 1.1234.

Only below 1.1104 would risk stronger correction towards 1.1068/73 before prospect of a rebound.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 05 Aug 201604:20 GMT

EUR/USD - 1.1131
Despite yesterday's resumption of decline from Tuesday's 6-week high of 1.1234 to 1.1114 ahead of New York open, near term loss of downward momentum is expected to prevent steep fall ahead of release of key U.S. jobs data at 12:30GMT later today and reckon 1.1095/00 would hold and bring rebound, above 1.1190/97 needed to signal pullback from 1.1234 over and bring subsequent gain towards this res level.

A daily close below 1.1100 would shift risk to the downside for a stronger retracement of early upmove from Jun's 3-month bottom at 1.0912 and yield weakness to 1.1068/73, then 1.1030 next week.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 08 Aug 2016 4:03 GMT

EUR/USD - 1.1088
Friday's intra-day selloff from 1.1161 to 1.1046 in New York morning session following robust U.S. jobs report confirms recent 3-legged rise from 1.0912 (June's low) has made a top earlier last week at 1.1234 and consolidation with downside bias remains for weakness to 1.1030 (previous res, now sup), near term loss of momentum should keep euro well above 11000 today and bring rebound.

On the upside, only a daily close above 1.1114 (Thursday's low, now res) signals 1st leg of correction from 1.1234 over and may risk stronger gain towards 1.1161 before prospect of another decline.

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AceTraderFx Aug 09: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 09 Aug 2016 04:13 GMT

EUR/USD - 1.1084
Although yesterday's intra-day sideways swings following early decline from last Tue's 6-week peak of 1.1234 to 1.3046 on Fri suggests initial consolidation is in store, outlook remains bearish for aforesaid fall to head to 1.1030, near term 'loss of downward momentum' should keep euro abvoe 1.1000/05 and risk has increased for a stronger retracement later this week.

On the upside, only a daily close abv 1.1114 (previous sup, now res) would bring further gain to 1.1135/40 but res at 1.1161 should remain intact.

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AceTraderFx Aug 10: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 10 Aug 2016 04:21 GMT

EUR/USD - 1.1143
Euro's rally above 1.1105 res to 1.1123 in New York morning on soft U.S. data, then intra-day gain to 1.1146 in Asia confirms decline from last Tuesday's 6-week peak at 1.1234 has made a low at 1.1046 (Friday) and consolidation with upside bias remains for further gain, near term overbought condition should cap price below res at 1.1190/97 and yield retreat later today or tomorrow.

On the downside, below 1.1095/05 (previous res, now sup) would indicate aforesaid strong rebound from 1.1046 has ended and yield weakness to 1.1070/72 but 1.1046 is expected to remain intact ahead of release of Friday's key U.S. retail sales data.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 11 Aug 2016 04:02 GMT

EUR/USD - 1.1182
Yesterday's rally at Asian open above 1.1123 res (now sup) to 1.1190 in New York due to broad-based usd's weakness, then 1.1192 today signals correction from last Tuesday's 6-week peak at 1.1234 had ended earlier at 1.1046 (Friday) and consolidation with upside bias remains for further gain.
However, above said 1.1234 res needed to extend recent erratic upmove from 1.0912 (June's Brexit bottom) towards 1.1260/64.

On the downside, only below 1.1123 'prolongs' recent broad sideways swings and may risk weakness to 1.1095/05 but 1.1070/72 sup should remain intact.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 16 Aug 2016 05:01 GMT

EUR/USD - 1.1181
Despite the single currency's rally to 1.1222 last Friday, subsequent sharp retreat suggests further choppy trading below August's 6-week peak at 1.1234 would continue with downside bias and yield weakness towards 1.1105, however, support at 1.1070 would remain intact today and yield rebound later.

On the upside, only above 1.1122 would revive bullishness for a re-test of aforesaid top, break would confirm recent erratic upmove from June's 3-month low at 1.0912 has resumed and extend towards 1.1260/64.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 17 Aug 2016 02:17 GMT

EUR/USD - 1.1286
The single currency's rally above August's peak at 1.1234 to a fresh 7-week peak at 1.1323 yesterday suggests recent erratic upmove from June's low at 1.0912 has once again resumed and consolidation with upside bias would be seen for gain towards 1.1348, then 1.1368.
However, loss of momentum would prevent steep rise beyond there and risk a much-needed correction later.
On the downside, only below 1.1203 (previous resistance, now support) would indicate a temporary top has been made and turn outlook bearish for a stronger retracement to 1.1154.

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

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

EUR/USD - 1.1299
The single currency's rally above August's peak at 1.1234 to a fresh 7-week peak at 1.1323 Tuesday suggests recent erratic upmove from June's low at 1.0912 has once again resumed and consolidation with upside bias would be seen for gain towards 1.1348, then 1.1368. However, loss of momentum would prevent steep rise beyond there and risk a much-needed correction later.

On the downside, only below 1.1203 (previous resistance, now support) would indicate a temporary top has been made and turn outlook bearish for a stronger retracement to 1.1154.

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