AceTraderFx March 13: Daily Recommendations on Major – EUR/USD

[acetraderfx]

DAILY MARKET OUTLOOK EUR/USD - 1.3860
Update Time: 12 Mar 2014 01:41 GMT

Despite euro's retreat to 1.3834 yesterday, subsequent rebound to 1.3877 in New York afternoon suggests the correction from last Friday's fresh 2-year high at 1.3915 has possibly ended there and consolidation with upside bias would be seen, however, above Monday's high at 1.3897 is needed to confirm this view and yield resumption of medium-term uptrend for a re-test of said top.

On the downside, only a daily close below 1.3825 (previous resistance, now support) would indicate a temporary top has been made and bring retracement towards 1.3776.

 

[acetraderfx]

AceTraderFx Jun 6: Daily Market Outlook on EUR/USD

Daily Market Outlook on EUR/USD - 1.3659

Update Time: 06 Jun 2014 01:01GMT

Despite Thursday's sell off to a near 4-month trough of 1.3503 after ECB's bold stimulus measures, intra-day swift rally due to active short-covering and subsequent strong gain above 1.3650 res to 1.3670 confirms euro's decline from May's near 2-1/2 year peak at 1.3995 has formed a temporary low there and several days of choppy consolidation with upside bias is envisaged.

As long as 1.3586 (previous sup) holds, further gain to 1.3690/00 is expected later today, however, near term overbought condition should cap euro's upside below res at 1.3734 today.

 

[acetraderfx]

AceTraderFx Jul 4: Daily Market Outlook on EUR/USD

DAILY MARKET OUTLOOK EUR/USD - 1.3603

Update Time: 04 Jul 2014 00:34 GMT

Euro's intra-day sell off to 1.3596 in New York morning after release of robust U.S. jobs report confirms recent erratic rise from June's near 4-month trough at 1.3503 has made a top earlier at 1.3700 on Tuesday and consolidation with downside bias remains for further weakness to 1.3577, however, anticipated near term oversold condition is expected to keep price above 1.3537/42 and bring subsequent rebound.

On the upside, only a daily close above 1.3643 (Wed's low, now res) would dampen present bearish scenario on the euro and risk stronger gain toward 1.3664 but 1.3700 should remain intact and yield further 'choppy' trading.

 

[acetraderfx]

AcetraderFx Jul 16: Daily Outlook on Major EUR/USD

DAILY MARKET OUTLOOK EUR/USD - 1.3565

Update Time: 16 Jul 2014 01:21 GMT

Euro's breach of last Monday's low at 1.3576 to 1.3562 on Tuesday due to broad-based firmness in greenback confirms correction from June's bottom at 1.3503 has ended earlier at 1.3700 in July and as price is currently trading below both 21-hour and 55-hour EMAs, suggesting consolidation with downside bias remains for a re-test of said low later this week.

On the upside, only a break of 1.3650 would prolong choppy trading above aforesaid low at 1.3503 and may risk another bounce towards 1.3700.

 

[acetraderfx]

AceTraderFx Aug 20: DAILY MARKET OUTLOOK EUR/USD

DAILY MARKET OUTLOOK EUR/USD - 1.3307

Update Time: 20 Aug 2014 03:53 GMT

Euro came under renewed selling pressure shortly after Asian open on Wed following yesterday's break of previous August's low at 1.3333 to a fresh 9-month trough of 1.3313 in New York morning due to upbeat U.S. housing starts data.

Although the single currency has hit an intra-day low of 1.3304 in thin Asian trading, below option barrier at 1.3300 needed to extend medium-term downtrend to 1.3270/75 later in the day. On the upside, only a daily close above 1.3333 would signal temporary low is in place and risk stronger recovery to 1.3365/75.

 

[acetraderfx]

AceTraderFx Aug 28: Daily Market Outllook on Major -EUR/USD

DAILY MARKET OUTLOOK EUR/USD - 1.3193
Update Time: 28 Aug 2014 00:36 GMT


Although euro's rally from yesterday's fresh near 1-year low at 1.3152 (Asia) to 1.3210 in New York signals mid-term downtrend from May's 2-1/2 year peak at 1.3995 has made a temporary low there, reckon 1.3220/24 would limit upside and bearishness remains for further weakness to 1.3120/30 after consolidation.
However, loss of momentum should keep price above 1.3105 today and risk a 'much-needed' minor correction later.

On the upside, only a daily close above 1.3220/24 would shift risk to upside for stronger retracement towards 1.3261 but resistance at 1.3296 should remain intact.

 

[acetraderfx]

AceTraderFx Sept 1: Daily Trading Ideals on EUR/USD

DAILY MARKET OUTLOOK EUR/USD - 1.3129

Update Time: 01 Sep 2014 01:00 GMT


Euro's intra-day breach of last Friday's fresh near 1-year low at 1.3132 after ECB's Coeure's dovish comments on Reuters Saturday signals mid-term downtrend from May's 2-1/2 year peak at 1.3995 has resumed and further weakness to daily objective at 1.3105 and then 1.3060/70 would be seen before correction occurs due to 'loss of momentum'.

On the upside, only a daily close above 1.3160 would indicate a temporarily low has been made and risk retracement towards 1.3196 but last week top at 1.3221 should remain intact.

 

[acetraderfx]

AceTraderFx Sept 12: Daily Outlook on Major EUR/USD

DAILY MARKET OUTLOOK EUR/USD - 1.2925

Update Time: 12 Sep 2014 01:04 GMT

Euro's rebound after Wednesday's retreat from 1.2963 to 1.2883 suggests a few days of consolidation above Tuesday's fresh 14-month trough at 1.2860 would be seen, however, reckon daily res at 1.2990 (last Friday's high) would hold and another decline is envisaged later.

Below 1.2860 would signal mid-term downtrend from 1.3995 (July) has once again resumed and bring further weakness to 1.2839 and then possibly towards 1.2800. On the upside, only a daily close above 1.2990 would yield stronger retracement to 1.3030/40 before down.

 

[acetraderfx]

AceTraderFx Sept 22: Daily Outlook on Major EUR/USD


DAILY MARKET OUTLOOK EUR/USD - 1.2848
Update Time: 22 Sep 2014 00:54 GMT

Euro's sell off to a fresh 14-month trough of 1.2829 Friday and then marginally to 1.2826 in Australia today signals mid-term downtrend from May's 2-1/2 year peak at 1.3995 has once again resumed and further weakness to 1.2772 would be seen after consolidation.
However, 'loss of momentum' should keep price above 1.2745 today and risk correction later.

On the upside, a daily close above 1.2831 (last Thursday's high) would abort daily bearishness and yield stronger gain to 1.2880/90.

 

[acetraderfx]

AceTraderFx Jan 19: Daily Outlook on Major- EUR/USD

DAILY MARKET OUTLOOK (EUR/USD)
Update Time: 19 Jan 2015 02:31 GMT

The single currency tumbled to a fresh 11-year low at 1.1460 on Friday on speculation that ECB's president Mario Draghi will announce a 550 billion-euro ($635 billion) bond-purchase program this week.
However, short-covering in New York lifted the pair to 1.1589, suggesting further choppy consolidation would be seen.
On the upside, as long as 1.1648 resistance remains intact, bearishness remains for a retreat to 1.1500/10 but said temporary low at 1.1460 should hold from here.

Looking ahead, a breach of 1.1460 would extend weakness to 1.1400 and later 1.1350/57 before prospect of a much-needed correction later.