AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 30 Sep 201605:14 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 Oct 3: Daily Recommendations on Major -EUR/USD

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 4: Daily Recommendations on Major -EUR/USD

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

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

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 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

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 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 12 Oct 201605:13 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 18: Daily Recommendations on Major USD/JPY

DAILY MARKET OUTLOOK
Update Time: 18 Oct 201609:35 GMT

USD/JPY - 104.03
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

DAILY MARKET OUTLOOK
Update Time: 19 Oct 2016 05:01 GMT

EUR/USD - 1.0991
Euro's strong retreat from 1.1026 (Asia) to 1.0970 in New York yesterday suggests early correction from Monday's fresh 10-week trough at 1.0964 has ended there and expect minor consolidation before recent decline from 1.1366 (August) resumes.
However, 'loss of downward momentum' should prevent steep fall and reckon key daily sup at 1.0912 would contain weakness and yield a much-needed correction.

On the upside, only above said Tuesday's 1.1026 high would prolong choppy trading and risk stronger retracement to 1.1050/60 before said downtrend resumes later this week.

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