AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

AceTraderFx Jan 27: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jan 2017 01:23 GMT

EUR/USD - 1.0677
Euro's firm break of previous 1.0707/12 sup (now res) yesterday to as low as 1.0658 due to broad-based short covering in the usd suggests confirms recent upmove from January's near 14-year trough at 1.0341 has made a top at 1.0775 on Tuesday and consolidation with downside bias remains for further weakness, near term oversold condition should keep price well above daily sup at 1.0589 today.

On the upside, only a daily close above 1.0712 signals aforesaid correction from 1.0775 is over and risk another rise towards 1.0750/60 later.

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Feb 2017 01:40 GMT

EUR/USD - 1.0793
Yesterday's impressive rally above last week's 1.0775 high to a 7-week peak of 1.0811 (New York) following 'euro comments' by U.S.
Trump's trade adviser confirms upmove from January's near 14-year bottom at 1.0341 has once again resumed and expect initial consolidation before bringing further gain, near term loss of upward momentum should cap price below daily res at 1.0875 (2016 December high) and yield subsequent minor correction.

On the downside, only a daily close below 1.0740 suggests aforesaid rise has made a temporary top, then risk would shift to the downside for stronger retracement towards 1.0685 but this week's low at 1.0620 should remain intact.

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Feb 2017 03:17 GMT

EUR/USD - 1.0758
Although euro's strong retreat from yesterday's 8-week high of 1.0829 to as low as 1.0756 in New York session due to broad-based short-covering rebound in the greenback confirms recent erratic upmove has made a temporary top there and consolidation with downside bias remains ahead of release of key U.S. jobs report, a daily close below 1.0732 sup needed to bring stronger retracement to 1.0685 and then towards 1.0620 later next week.

On the upside, above 1.0829 would extend marginal gain, however, loss of near term upward momentum should cap price below daily res at 1.0875 and risk is seen for a much-needed correction to take place.

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AceTraderFx Feb 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 Feb 2017 01:19 GMT

EUR/USD - 1.0785
Euro's strong rebound from 1.0712 to 1.0797 in post-NFP New York trading on Friday signals correction from Thursday's 8-week peak at 1.0829 has ended there and intra-day retreat from 1.0800 (Australia) suggests consolidation is in store before re-test of said last week's high, break would extend recent upmove from January's near 14-year trough at 1.0341 to 1.0840/50, near term loss of upward momentum should cap price below key res at 1.0875 (December high).

On the downside, only below 1.0712 aborts present bullish scenario on the single currency.

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

DAILY MARKET OUTLOOK on Major

Update Time: 08 Feb 2017 06:00 GMT

EUR/USD - 1.0678
Yesterday's break of previous 1.0706/12 sup area (now res) to 1.0656 and then daily close below there confirms recent erratic rise from January's near 14-year bottom at 1.0341 has made a top at 1.0829 last week and choppy consolidation with downside bias remains for subsequent weakness towards 1.0620.

On the upside, only a firm rise above indicated res would confirm temporary low is made, then risk is seen for stronger gain to 1.0750/55 before prospect of another fall later this week.

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

DAILY MARKET OUTLOOK on Major
Update Time: 09 Feb 2017 05:00 GMT

EUR/USD - 1.0687
Despite euro's resumption of recent decline from last week's 1.0829 peak to 1.0641 in European morning yesterday, subsequent rebound on broad-based USD retreat in New York session suggests 1st leg of correction has ended and 1-2 days of choppy consolidation with near term upside bias is seen, reckon res at 1.0755 would cap present rise and yield another fall.

Only below 1.0641 would extend aforesaid decline to 1.0620.
However, loss of downward momentum should keep price above previous sup at 1.0580/89.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Feb 2017 05:016 GMT

EUR/USD - 1.0663
Yesterday's decline from 1.0710 in Europe and then later to 1.0651 in New York following Trump's comments of a 'phenomenal' tax plan suggests correction from 1.0641 (Wednesday) has ended the same day at 1.0714 and decline from last Thursday's 8-week peak at 1.0829 would head to 1.0620 after consolidation, loss of downward momentum is expected to keep price above 1.0580/89 sup today.

On the upside, only above 1.0714 confirms 1st leg of correction is over and may risk stronger retracement towards 1.0755 before prospect of another fall next week.
Data to be released on Friday:

Japan CGPI, China exports, imports, trade balance, France industrial production, Italy industrial output, UK construction output, industrial output, manufacturing output, trade balance, Canada employment, U.S. export price, import price and consumer sentiment.

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AceTraderFx Feb 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 13 Feb 20170 5:05 GMT

EUR/USD - 1.0622
Although euro's rebound from last Friday's 3-week trough at 1.0608 to 1.0652 in New York session suggests recent decline from Febuary's 1.0829 peak has made a minor low and initial sideways swings are in store, as long as 1.0668/70 holds, marginal weakness is likely, loss of downward momentum would keep price above previous sup at 1.0580/89 today and bring stronger correction later.

Above 1.0670 would yield retracement to 1.0710/14 b4 prospect of one more fall.

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AceTraderFx Feb 14: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 14 Feb 2017 05:12 GMT

EUR/USD - 1.0603
Despite euro's resumption of recent decline from Febuary's 8-week high of 1.0829 to a fresh 3-week low of 1.0592 on Monday, then intra-day one-tick lower below said level in Asia, near term loss of downward momentum is expected prevent steep fall below previous sup area at 1.0580/89 and risk has increased for a much-needed correction to take place.

On the upside, a firm rise above 1.0659 would be the signal temporary bottom is in place, then euro would head back to 1.0690/00 later.
Data to be released :
Germany GDP, CPI, HICP, Swiss CPI, Italy GDP, UK CPI, RPI, PPI input, PPI output, EU GDP, industrial production, U.S. PPI and redbook.

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

DAILY MARKET OUTLOOK
Update Time: 16 Feb 2017 02:50 GMT

EUR/USD - 1.0620
Despite euro's resumption of recent decline from Feburary's 1.0829 peak to a 5-week trough of 1.0522 after upbeat U.S. eco. data, subsequent rally to as high as 1.0608, then intra-day rise above there in Asia confirms aforesaid fall has made a temporary low and 1-2 days of choppy consolidation is in store.

Expect 1.0675 to cap present corrective rise and yield subsequent retreat, however, a daily below 1.0561 needed to signal correction is over and yield further weakness to 1.0480/85.

Data to be released :
Germany WPI, U.S. building permits, housing starts and jobless claims.

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