AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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DAILY MARKET OUTLOOK
Update Time: 11 Mar 2016 04:30 GMT

EUR/USD - 1.1200
Despite euro's intra-day selloff from 1.0990 to a fresh 1-month low of 1.0822 after anticipated ECB's rate cut and more easing measures, subsequent short-covering rebound and then a sharp rally to as high as 1.1218 following ECB President Draghi's 'no further rate cuts' comments confirms correction from February's 3-1/2 month peak at 1.1377 has ended there and outlook remains supportive for re-test of said res level later this month.

Today, expect 1.1116 would contain pullback and yield further headway to 1.1250 after consolidation but 1.1290/00 should cap upside.
On the downside, only below 1.1116 signals temporary top has been made and yield 1-2 days of consolidation before prospect of further rise.

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

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DAILY MARKET OUTLOOK
Update Time: 14 Mar 2016 04:39 GMT

EUR/USD - 1.1155
Despite euro's strong retreat to 1.1081 on Friday, subsequent rebound to 1.1193 in New York session signals pullback from last week's 1.1218 (Thursday) has ended there and outlook remains mildly bullish for near term upmove from Thursdays fresh 1-mnth bottom at 1.0821 to resume after consolidation and yield marginal gain to 1.1250, 'loss of momentum' should cap price below 1.1300 and risk has increased for a correction to take place later.
Only below 1.1081 would risk stronger retracement towardsd 1.0858 (previous res, now sup) before prospect of a strong rebound.

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

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DAILY MARKET OUTLOOK
Update Time: 15 Mar 2016 05:02 GMT

EUR/USD - 1.1106
Despite yesterday's decline from 1.1176 (New Zealand) to 1.1099 in Europe in reaction to setback by Germany's ruling CDU party in Sunday's regional election, then a brief breach of 1.1081 sup to 1.1077 (interbank low) in New York, subsequent rebound suggests consolidation with upside bias is in store, above 1.1176 would signal pullback from last week's high at 1.1218 (Thursday) has ended and yield gain towards 1.1250 later this week.

On the downside, only below 1.1058 (previous res, now sup) would risk stronger correction of upmove from last Thursday's post-ECB rate cut 1-month bottom towards 1.1019 (50% r) before prospect of a rebound.

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

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DAILY MARKET OUTLOOK
Update Time: 15 Mar 2016 03:07 GMT

EUR/USD - 1.1105
Despite yesterday's 'sterling-led' marginal weakness below Mon's 1.1077 low to 1.1072 in Europe, subsequent rebound to 1.1125 in New York following weak U.S. retail sales data suggests consolidation is in store initially and mild upside bias remains , a firm break above overead res area at 1.1125/35 would signal pullback from last Thursday's 1.1218 peak has ended, then outlook would improve for further subsequent headway towards 1.1193.

On the downside, below 1.1072 would risk stronger retracement of euro's early spectacular rally from last Thursday's 1-month trough at 1.0821 towards 1.1058 (previous res, now sup), loss of momentum should keep price well above 1.1019 (50% r from 1.0821) and bring another rise later this week.

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AceTraderFx Mar 17: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 17 Mar 2016 04:00 GMT

EUR/USD - 1.1213
Euro's anticipated rebound from 1.1058 to a 1-month peak of 1.1242 in post-FOMC New York session Wednesday after dovish Fed statement has justified our recent bullish stance and expect minor consolidation to take place in Asia before upmove from last week's 1.0821 low (Thursday) resumes towards 1.1290/00, near term overbought condition should cap price below minor daily res at 1.1335.
On the downside, only a daily close below 1.1193 (previous res, now sup) signals temporary top is made and risks stronger retracement towards 1.1150. However, reckon 1.1125 should remain intact.

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

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DAILY MARKET OUTLOOK
Update Time: 18 Mar 2016 04:21 GMT

EUR/USD - 1.1322
Yesterday's continuation of Wed's spectacular rally to 1.1343 in Europe suggests price is en route to re-test February's 3-1/2 month peak at 1.1377 after consolidation, above would extend marginal gain, however, near term loss of upward momentum is likely to prevent strong gain today and reckon 1.1400/10 would cap upside.

Expect 1.1278 (New York low) to hold and yield further rise and only below would signal a temporary top is in place, risk stronger retracement towards 1.1206 before prospect of another rise next week.

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

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DAILY MARKET OUTLOOK
Update Time: 21 Mar 2016 05:00 GMT

EUR/USD - 1.1280
Euro's intra-day strong retreat from 1.1337 to 1.1256 last Fri suggests recent upmove has made a temporary high at Thursday's 1-month peak at 1.1343 and consolidation with near term downside bias remains for a marginal weakness, reckon sup at 1.1206 would contain downside and bring rebound, however, a daily close above 1.1307 is needed to signal pullback is over and yield gain towards February 's 3-1/2 month high at 1.1377.

On the downside, only a daily close below indicated sup at 1.1206 would bring stronger correction to 1.1145/50 before prospect of a rebound later this week.

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

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DAILY MARKET OUTLOOK
Update Time: 22 Mar 2016 05:13 GMT

EUR/USD - 1.1237
Although euro's weakness to 1.1234 yesterday and then intra-day brief break of this level in Asia today suggests recent upmove has made a temporary top at last Thursday's 1-month peak at 1.1343 and further choppy consolidation is in store, as long as sup at 1.1206 holds, bullishness remains for another strong rebound, above 1.1285 would be the 1st signal said pullback is over and yield 1.1307, then later towards 1.1343.

Only a daily close below 1.1206 would risk stronger retracement to 1.1176, however, loss of momentum would keep euro above 1.1140/44 today.

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AceTraderFx Mar 29: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK
Update Time: 29 Mar 2016 05:45 GMT

EUR/USD - 1.1196
Despite yesterday's narrow movement in subdued Asian session, subsequent rally above 1.1176 res (now sup) to 1.1220 in holiday-thinned New York morning after release of soft U.S. inflation data confirms euro's recent decline from March's 1-month peak at 1.1343 has formed a temporary low last Thursday at 1.1144 and consolidation with mild upside bias remains for marginal gain, reckon 1.1260 would cap present rise and yield another fall.
On the downside, a daily close below 1.1176 would signal aforesaid correction has ended, re-test of 1.1144 would be seen, then weakness to 1.1125.

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

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DAILY MARKET OUTLOOK
Update Time: 30 Mar 2016 01:10GMT

EUR/USD - 1.1297
Euro's rally to as high as 1.1303 in New York afternoon on Tuesday due to dovish remarks from Fed's chair Yellen signals recent decline from March's 1-month peak at 1.1343 has ended last Thursday at 1.1144 and consolidation with upside bias remains.
However, break of said temporary top is needed to bring resumption of upmove from March's bottom at 1.0521 towards 2016 peak at 1.1377 (February) later.

On the downside, a daily close below 1.1220 (Monday's high, now support) would prolong choppy trading but support at 1.1144 should remain intact.

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