AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 08 Sep 201604:21 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

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 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 13 Sep 2016 01:37 GMT

EUR/USD - 1.1230
Yesterday's 'roller-coaster' moves in hectic Mon'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 14: Daily Recommendations on Major -EUR/USD

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 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 15 Sep 2016 04:50 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 21: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 21 Sep 2016 05:09 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 23: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 23 Sep 2016 05:07 GMT

EUR/USD - 1.1211
Although yesterday's impressive rally in Europe and then intra-day gain to session highs of 1.1257 confirms recent decline has indeed made a temporary bottom at Wed's 5-week trough at 1.1121, subsequent retreat to 1.1200 ahead of New York close suggests 1st leg of correction has ended and sideways consolidation is in store, reckon 1.1160/70 would contain pullback and yield rebound.
However, above said yesterday's high needed to extend aforesaid upmove toward 1.1284/85.

On the downside, only below 1.1140 aborts daily bullish bias on the euro and risk would shift to the downside for weakness to 1.1121/23.

Pay attention to a slew of euro zone data in European morning.
Today is PMI day with France kicking off with France with GDP and Markit Mfg and Services PMIs, then the sames PMIs from Germany followed by the release of same PMIs from the EU.

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

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 29: Daily Recommendations on Major -EUR/USD

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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