AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

AceTraderFx Mar 31: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 31 Mar 2016 02:04 GMT

EUR/USD - 1.1328
Euro's rally to as high as 1.1303 in New York afternoon on Tuesday due to dovish remarks from Fed's chair Yellen, then yesterday's breach of previous March's peak at 1.1343 to 1.1365 suggests a re-test of 2016 peak at 1.1377 (Feb) would be forthcoming soon.
However, above there is needed to bring resumption of erratic upmove from January's bottom at 1.0523 towards 1.1450/60 later.

On the downside, a daily close below support at 1.1283 would indicate a temporary top has been made and yield retracement towards 1.1245/55 before prospect of a rebound.

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AceTraderFx Apr 1: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 01 Apr 2016 03:37 GMT

EUR/USD - 1.1369
Euro's rally above 2016 peak at 1.1377 (Feburary) to a fresh 4-1/2 month peak at 1.1412 in New York morning signals erratic upmove from January's bottom at 1.0523 has resumed and further gain to 1.1450/60 is envisaged after consolidation.
However, 'loss of momentum' should cap price below 1.1495 (2015 Oct high) today and yield retreat later.
On the downside, only a daily close below support at 1.1310 would indicate a top has been made instead and turn outlook bearishness for subsequent correction towards 1.1220/30.

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AceTraderFx Apr 5: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 05 Apr 2016 04:08GMT

EUR/USD - 1.1397
Euro's rebound after retreating strongly from last Friday's 5-month peak of 1.1438 to 1.1335 in New York session suggests mild upside bias remains for recent upmove to resume after consolidation.
However, near term 'loss of upward momentum' should prevent strong gain today and reckon chart res at 1.1495 should remain intact.
On the downside, below 1.1335 would confirm a temporary top has been made and bring retracement towards 1.1310/15 but 1.1283 should hold, yield rebound.

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AceTraderFx Apr 6: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 06 Apr 2016 02:31 GMT

EUR/USD - 1.1382
Euro's rebound after last Friday's intra-day strong retreat from a fresh 5-month peak of 1.1438 to 1.1335 suggests mild upside bias remains for recent upmove to resume after consolidation.
However, near term 'loss of upward momentum' should prevent strong gain today and reckon chart res at 1.1495 should remain intact.

On the downside, below 1.1335 would confirm a temporary top has been made and bring retracement towards 1.1310/15 but 1.1283 should hold, yield rebound.

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AceTraderFx Apr 7: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK
Update Time: 07 Apr 2016 04:09 GMT

EUR/USD - 1.1413
Despite euro's brief break of previous support at 1.1335 to 1.1327 ahead of New York open yesterday, subsequent intra-day rally to 1.1432 signals pullback from last Friday's fresh 5-month peak of 1.1438 has ended there and consolidation with upside bias would be seen, above said resistance anytime would confirm recent upmove has resumed and extend gain towards next chart objective at 1.1495 before prospect of correction.
On the downside, only a daily close below 1.1327 would confirm a temporary top has been made and bring retracement to 1.1283 but reckon 1.1220/25 would hold, yield rebound.

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

DAILY MARKET OUTLOOK
Update Time: 08 Apr 2016 04:00 GMT

EUR/USD - 1.1371
Despite euro's brief rise above last Friday's high of 1.1438 to a fresh 5-1/2 month peak at 1.1454 in European morning, subsequent intra-day selloff to 1.1338 in New York morning signals MT uptrend has made a temporary top there and a few days of consolidation with mild downside bias would be seen.
However, reckon 1.1260/70 would hold and yield rebound later.

On the upside, a break of 1.1454 would bring further gain to 1.1495 but loss of momentum should limit upside to 1.1510/20 and yield retreat.

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

DAILY MARKET OUTLOOK
Update Time: 12 Apr 2016 05:00GMT

EUR/USD - 1.1410
Euro's rebound after last Thursday's intra-day strong retreat from a fresh 5-1/2 month peak at 1.1454 to 1.1338 suggests mild upside bias remains for MT uptrend to resume after consolidation.
However, 'loss of momentum' should prevent strong gain above said high and reckon price would falter well below 1.1495 (2015 Oct 15 high) and yield correction later.

On the downside, only below 1.1338 would confirm a temporary top has been made and bring another leg of correction towards 1.1282/83 and then possibly towards 1.1220/25 before prospect of a rebound.
On the upside, above 1.1454 would yield another upmove to 1.1470/80 but 'loss of momentum' should cap price below and yield correction later.

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

DAILY MARKET OUTLOOK
Update Time: 13 Apr 2016 03:03 GMT

EUR/USD - 1.1370
Despite euro's brief rally above last week's top at 1.1454 to a fresh 5-1/2 month peak at 1.1465 in Europe on Tuesday, subsequent intra-day sharp selloff to 1.1336 in New York morning on long-liquidation suggests a temporary top has been made and consolidation with downside bias is seen, however, reckon support at 1.1283 would hold and yield rebound later.

On the upside, only a firm breach of 1.1465 would indicate MT uptrend has resumed and extend gain to 1.1495 and then 1.1512 before correction occurs.

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

DAILY MARKET OUTLOOK
Update Time: 18 Apr 2016 04:02 GMT

EUR/USD - 1.1294
Euro's selloff from last Tuesday's fresh 5-1/2 month peak at 1.1465 to as low as 1.1234 on Thursday signals Medium Term uptrend from 1.0523 (Dec 2015) has made a temporary top there and despite subsequent recovery to 1.1317 on Friday, as long as 1.1346 (previous support, now resistance) holds, choppy trading with downside bias remains.
However, reckon 1.1144 would contain weakness and yield rebound 'later'.

On the upside, only a daily close above 1.1346 would indicate 1st leg of correction over and yield gain towards 1.1401 before down.

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

DAILY MARKET OUTLOOK
Update Time: 20 Apr 2016 04:07GMT

EUR/USD - 1.1358
Yesterday's rise from 1.1303 to 1.1385 in New York suggests euro's decline from last Tuesday's 5-1/2 month peak at 1.1465 has ended at 1.1234 (Thur) and as long as said Tuesday's low holds, consolidation with mild upside bias still remains for gain towards 1.1438, break would yield resumption of MT uptrend to re-test 1.1465, then towards 1.1512 'later'.

On the downside, only a firm break below 1.1272/74 would signal correction is over instead and bring weakness towards 1.1234.


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AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time