AceTraderFx: Daily Market Outllook on Major -EUR/USD

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AceTraderFx Dec 16: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 16 Dec 2016 05:14 GMT

EUR/USD - 1.0418
Euro's firm break of 2015 bottom of 1.2457 (now res) to a 13-year trough of 1.0367 in New York yesterday suggests recent strong downtrend would resume after initial consolidation before further marginal fall, having said that, weakening of near term downward momentum should keep price well above 1.0300/10 and risk has increased for a much-needed correction to take place later today or next Monday.

On the upside, a daily close above 1.0457 would be the 1st signal temporary low is in place, then stronger retracement twowards 1.0523/26 would follow.

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AceTraderFx Dec 20: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 20 Dec 201605:15 GMT

EUR/USD - 1.0403
Despite euro's initial short-covering rise to 1.0480 in European morning on Monday, subsequent erratic decline to 1.0393 in New York afternoon session following upbeat speech by Fed Chair Janet Yellen suggests correction from last Thursday's 13-year bottom at 1.0367 has ended there and re-test of this temporary low is envisaged after consolidation.
However, near term loss of downward momentum should keep price above 1.0330/35 today and risk has increased for a stronger retracement to take place later this week.

On the upside, only a daily close above 1.0480 signal temporary low has been made and may risk further gain to 1.0526/30.

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AceTraderFx Dec 21: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 21 Dec 2016 05:09 GMT

EUR/USD - 1.0383
Although euro's anticipated rebound rebound from Tuesday's fresh 13-year trough at 1.0352 to 1.0407 (New York) suggests recent downtrend has made a temporary low there and consolidation is in store in Asia, above 1.0418 needed to retain near term upside bias for stronger retracement but reckon res at 1.0480 would remain intact and yield another fall next week.

On the downside, below 1.0352 would risk marginal weakness, however, loss of downward momentum should keep price well above option refence at 1.0300.

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AceTraderFx Dec 28: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 28 Dec 2016 02:00GMT

EUR/USD - 1.0468
Euro's daily swings in holiday-thinned Monday and Tuesday sessions following early retreat from last week's high of 1.0499 (Thursday) to 1.0427 on Friday are expected to continue and below 1.0427 sup would confirm upmove from December's 13-year bottom at 1.0352 has made a temporary top and yield subsequent weakness to 1.0400/05 but reckon 1.0383/89 sup area would hold.

On the upside, above 1.0499 would risk stronger correction of recent decline to 1.0526, loss of momentum is likely to cap price at 1.0550/55.

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AceTraderFx Dec 29: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK
Update Time: 29 Dec 2016 01:27 GMT

EUR/USD - 1.0431
Although yesterday's selloff from 1.0480 to as low as 1.0372 suggests euro's correction from last Tuesday's fresh 15- year trough at 1.0352 has ended at 1.0499 (Thursday), subsequent rebound and then intra-day rise above 1.0427 (previous sup, now res) in Asia suggests further volatile swings 'inside' indicated broad range would continue.

Only above 1.0499 would bring stronger retracement of recent downtrend towards 1.0552 whilst below 1.0372 would yield re-test of 1.0352, then 1.0330/35.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jan 2017 02:10 GMT

EUR/USD - 1.0400
Despite yesterday's intra-day selloff from 1.0490 at European open and then a brief break of Dec's 13-year trough of 1.0352 to 1.0341 in New York morning after upbeat U.S. data, subsequent strong bounce to 1.0433 due to broad-based profit taking in usd suggests a temporary low has been made and consolidation is in store.

Above 1.0451 (Monday's low, now res) would bring stronger correction to 1.0480/90 whilst below 1.0341 would yield marginal weakness.
However, loss of downward momentum should keep price above 1.0300 today.

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

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jan 2017 05:08 GMT

EUR/USD - 1.0515
Although euro's intra-day rally above yesterday's 1.0500 high to 1.0541 at Asian open due to renewed broad-based usd's weakness confirms recent downtrend has made a temporary low at Tuesday's near 14-year bottom at 1.0341, near term overbought condition should prevent strong gain and expect consolidation before prospect of marginal rise.
However, reckon res at 1.0591 would cap upside.

On the downside, below 1.0446 (Wed's European high, now sup) any time signals at least the 1st leg of correction from 1.0341 has ended and risk subsequent weakness to 1.0390/00.

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AceTraderFx Dec 09 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jan 2017 02:05 GMT

EUR/USD - 1.0533
Euro's strong retreat in post-NFP New York session from 1.0622 to as low as 1.0525 confirms first leg of correction from last Tuesday's near 14-year trough at 1.0341 has ended there and 1-2 days of consolidation with downside bias remains for weakness to 1.0481/83, however, reckon 1.0433 (previous res, now sup) would contain downside and yield another rebound.

On the upside, only above 1.0575/85 suggests pullback is possibly over and risks re-test of 1.0622 later.

Data to be released today:

Japan market holiday, Australia building approvals, China CPI, PPI, Germany industrial production, trade balance, current account, exports, imports, Swiss retail sales, UK Halifax house price, Italy unemployment rate, EU sentix index and unemployment rate.

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AceTraderFx Dec 10 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jan 2017 03:00 GMT

EUR/USD - 1.0587
Although euro's strong rebound from 1.0511 yesterday signals pullback from 1.0622 (Friday) has ended there and consolidation with upside bias is seen, above said res is needed to extend near term upmove from last Tuesday's near 14-year bottom at 1.0341 towards December's 1.0655 high, loss of upward momentum should cap euro at 1.0680/85.

On the downside, only below 1.0511 dampens bullish bias on euro and risks stronger retracement to 1.0481/83 before of another rise later this week.

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jan 2017 01:24 GMT

EUR/USD - 1.0557
Despite yesterday's initial brief break of last Friday's high at 1.0622 to 1.0627 in Asia, subsequent retreat to 1.0559 in Europe, then 1.0552 in New York afternoon session confirms early erratic rise from last Tuesday's near 14-year bottom at 1.0341 has indeed made a temporary top and a day of consolidation with near term downside bias is seen, reckon 1.0481/83 would contain weakness and bring subsequent rebound.

On the upside, expect 1.2600/04 to cap intra-day recovery and yield further decline and only above there may risk one more rise twd daily res at 1.2655 before prospect of a correction.

Data to be released today:

Australia consumer sentiment, Japan leading indicator, UK construction output, industrial output, manufacturing output, trade balance and Canada housing starts. President Donald Trump will hold his first press conference in 2017 around 16:00GMT.

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