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

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AceTraderFx May 8: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 08 May 2015 01:19 GMT

EUR/USD - 1.1248
Despite euro's brief rise above Wednesday high of 1.1371 to a fresh 10-week peak at 1.1392 in Europe on Thursday, subsequent intra-day sell off to 1.1237 in New York and then 1.1228 in Australia on Friday signals recent erratic up move has made a temporary top there and consolidation with downside bias is seen for a retracement towards 1.1120/30 but this week's low at 1.1066 (Tuesday) should hold.

On the upside, only above 1.1392 would confirm up move from March's 12-yaer trough at 1.0457 has resumed and extend gain to next daily chart objective at 1.1450, then 1.1534 later this month.

 

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AceTraderFx May 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 12 May 2015 01:00 GMT

EUR/USD - 1.1140
Euro's intra-day breach of Friday's low at 1.1179 to 1.1131 in New York on lack of positive development after the special Euro group meeting.
This is suggesting the fall from last Thursday's 10-week peak at 1.1392 to correct recent strong up move has once again resumed and weakness towards 1.1090/00 is envisaged.
However, loss of momentum should keep price above 1.1062 (previous res, now sup) today and yield rebound later.

On the upside, only above 1.1228/37 area signals 1st leg of correction is over but 1.1290 (Friday's New York high) should hold from here.

 

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

DAILY MARKET OUTLOOK
Update Time: 13 May 2015 01:27 GMT

EUR/USD - 1.1217
Despite euro's retreat after intra-day rally from 1.1134 to 1.1279 on Tuesday, as this move suggests correction from last Thursday's 10-week peak at 1.1392 has ended Monday at 1.1131, choppy trading with upside bias remains.
Looking ahead, a daily close above 1.1325 (previous support, now resistance) would confirm this view and bring resumption of upmove from March's 12-year trough at 1.0457 to re-test said temporary top, then 1.1440/50.

On the downside, only below 1.1131/34 would shift risk to downside for stronger retracement towards 1.1060/62.

 

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

DAILY MARKET OUTLOOK
Update Time: 14 May 2015 01:15 GMT

EUR/USD - 1.1357
Euro's intra-day rally from 1.1202 to as high as 1.1383 on Wednesday signals correction from last Thursday's 10-week peak at 1.1392 has ended at 1.1131 (Monday) and re-test of this resistance is seen.
Break would confirm erratic upmove from March's 12-year trough at 1.0457 has resumed and bring further gain towards daily chart objective at 1.1450 later.

On the downside, only a failure to penetrate 1.1392 resistance and then move back below 1.1279 (Tue high, now support) would indicate further choppy trading inside 1.1392-1.1131 would continue and risk weakness towards 1.1202.

 

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AceTraderFx May 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 15 May 2015 01:13 GMT

EUR/USD - 1.1402
Euro's rally above last Thursday's high of 1.1392 to a fresh near 3-month peak at 1.1445 yesterday signals erratic up move from March's 12-year trough at 1.0457 to retrace long-term downtrend has resumed and further gain to daily chart resistance at 1.1450 and then 1.1500 would be seen after consolidation.

On the downside, only a failure to penetrate 1.1445 and then move back below support at 1.1340/44 would indicate a temporary top is made and risk retracement towards 1.1279 (Tuesday high, now support) before rebound occurs.

 

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AceTraderFx May 18: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 18 May 2015 01:00 GMT

EUR/USD - 1.1433
Euro's rally to a fresh near 3-month peak at 1.1467 Friday signals erratic up move from March's 12-year trough at 1.0457 to retrace long-term downtrend has resumed.
Further gain to 1.1500 and then daily chart resistance at 1.1534 would be seen later this week before correction occurs.

On the downside, only a failure to penetrate 1.1467 and then move back below 1.1390/00 would indicate a temporary top is made and risk retracement towards 1.1223.

 

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AceTraderFx May 19: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 19 May 2015 00:47 GMT

EUR/USD - 1.1318
Euro's sell off from 1.1447 to 1.1229 on Monday signals erratic upmove from March's 12-year trough at 1.0457 has made a temporary top at last Friday's fresh 3-month peak at 1.1467 and as long as 1.1366/70 holds.
Choppy trading with downside bias remains for another corrective fall to 1.1255/65 later, however, reckon support at 1.1202 (last Wednesday low) would contain weakness and bring rebound later.

On the upside, only a move back above 1.1420/27 would indicate correction over instead, yield gain to 1.1447 and then re-test of 1.1467.

 

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AceTraderFx May 20: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 20 May 2015 01:02 GMT

EUR/USD - 1.1132
Euro's sell off to 1.1118 in New York yesterday after dovish comments from ECB's Benoit Coeure and upbeat U.S. housing data signals erratic up move from March's 12-year trough at 1.0457 has indeed made a temporary top at 1.1467 last Friday and consolidation with downside bias remains for another leg of correction to 1.0662/66, then 1.1020/30 later.

On the upside, only above 1.1217 resistance would abort this bearish scenario and shift risk to upside for stronger gain towards 1.1250/60.

 

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AceTraderFx May 21: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 21 May 2015 01:09 GMT

EUR/USD - 1.1112
Despite euro's choppy sideways move after extending decline from last Friday's 3-month peak at 1.1467 to 1.1062 yesterday, downside bias remains for said move to retrace the entire up move from March's 12-year trough at 1.0457 to resume after consolidation and yield further weakness to 1.0994 (50% r) but sharp fall below is not likely due to near term loss of momentum.

On the upside, only a daily close above 1.1217 resistance would indicate a low is made and shift risk to upside for stronger gain towards 1.1260/70 and possibly towards 1.1321/26.

 

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AceTraderFx May 22: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 22 May 2015 01:23 GMT

EUR/USD - 1.1122
Euro's erratic rise from Wednesday's low at 1.1062 to as high as 1.1181 in Europe yesterday signals decline from last Friday's 3-month peak at 1.1467 has made a temporary low there and despite subsequent intra-day retreat in New York session, reckon price would hold above said support and bring another corrective bounce later, above 1.1181 would extend gain to 1.1217 later.

On the downside, only below 1.1062 would extend aforesaid fall to retrace the entire upmove from March's 12-year trough at 1.0457 towards 1.0962 next week.