AceTraderFx: Daily Market Outllook on Major -EUR/USD

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AceTraderFx May 30 : Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 30 May 2016 05:03 GMT

EUR/USD - 1.1106
Friday's selloff to a fresh 2-month low of 1.1110 near New York close after hawkish comments by Fed Chair Janey Yellen and then intra-day weakness to 1.1098 caused by usd's broad-based gain on rally in dlr/yen suggests recent decline from May's 1.1617 peak would pressure price towards 1.1070 before prospect of a rebound later.

On the upside, only above 1.1159/69 (previous sup area, now res) indicates a temporary bottom is in place and risks stronger retracement towards 1.1200.

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AceTraderFx Jun 1: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 01 Jun 2016 03:08 GMT

EUR/USD - 1.1121
Despite the single currency's fall to a fresh 2-month trough at 1.1098 yesterday, subsequent strong rebound suggests recent downtrend from May's peak at 1.1617 has formed a minor low there and consolidation with upside bias would be seen for gain towards 1.1169, then 1.1201/05.
However, as broad-outlook remains consolidative, reckon resistance at 1.1217 would hold and yield retreat later.

On the downside, only below 1.1098 would revive bearishness for weakness towards 1.1058/60, then 1.1020 later this week but near term loss of momentum would keep price above 1.1000.

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AceTraderFx Jun 2: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 02 Jun 2016 01:17 GMT

EUR/USD - 1.1188
Despite the single currency's fall to a fresh 2-month trough at 1.1098 on Monday, subsequent strong rebound suggests recent downtrend from May's peak at 1.1617 has formed a minor low there and consolidation with upside bias would be seen for gain towards 1.1201/05.
However, as broad-outlook remains consolidative, reckon resistance at 1.1217 would hold and yield retreat later.

On the downside, only below 1.1098 would revive bearishness for weakness towards 1.1058/60, then 1.1020 later this week but near term loss of momentum would keep price above 1.1000.

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AceTraderFx Jun 3: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 03 Jun 2016 04:05 GMT

EUR/USD - 1.1150
Despite the single currency's initial rise to 121220 in European morning yesterday, subsequent sharp retreat to 1.1145 in New York morning on ECB's cautious economic outlook suggests the recovery from Monday's fresh 2-month trough at 1.1098 has ended there and consolidation with downside bias would be seen for weakness towards 1.1114, below would confirm this view and yield re-test of aforesaid support.
On the upside, only above 1.1220 would revive bullishness for a stronger retracement of medium-term decline towards 1.1280/83 before prospect of retreat.

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AceTraderFx Jun 6: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 06 Jun 2016 01:27 GMT

EUR/USD - 1.1348
The single currency's rally to as high as 1.1375 on Friday after the release of much weaker-than-expected U.S. non-farm payrolls data suggests upmove from last week's low at 1.1098 remains in progress and consolidation with upside bias would be seen for gain towards 1.1447/50.
However, near term loss of momentum would prevent sharp move beyond there and reckon 1.1481 would hold and yield retreat later.

On the downside, only below 1.1220 (previous resistance) would indicate a temporary top has been made and risk stronger retracement towards 1.1173.

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AceTraderFx Jun 7: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 07 Jun 2016 04:08 GMT

EUR/USD - 1.1357
The single currency's rally to as high as 1.1375 on Friday after the release of much weaker-than-expected U.S. non-farm payrolls data, then to 1.1393 yesterday suggests upmove from last week's low at 1.1098 remains in progress and consolidation with upside bias would be seen for gain towards 1.1447/50.
However, near term loss of momentum would prevent sharp move beyond there and reckon 1.1481 would hold and yield retreat later.

On the downside, only below 1.1220 (previous resistance) would indicate a temporary top has been made and risk stronger retracement towards 1.1173.

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AceTraderFx Jun 8: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 08 Jun 2016 04:25 GMT

EUR/USD - 1.1363
The single currency's rally to as high as 1.1375 on Friday after the release of much weaker-than-expected U.S. non-farm payrolls data, then to 1.1393 yesterday suggests upmove from last week's low at 1.1098 remains in progress and consolidation with upside bias would be seen for gain towards 1.1447/50.
However, near term loss of momentum would prevent sharp move beyond there and reckon 1.1481 would hold and yield retreat later.

On the downside, only below 1.1220 (previous resistance) would indicate a temporary top has been made and risk stronger retracement towards 1.1173.

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AceTraderFx Jun 10: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 10 Jun 2016 04:35 GMT

EUR/USD - 1.1300
Although euro's anticipated decline from Thursday's fresh 1-month peak at 1.1416 (Asia) to as low as 1.1306 in New York and then intra-day weakness below said sup in Asia confirms early upmove from May's 1.1098 trough has indeed made a temporary top there.
With near term loss of downward momentum it would prevent steep fall and reckon 1.1270/80 would contain downside, bring subsequent rebound but several days of choppy consolidation is now envisaged.

On the downside, only a daily close below 1.1265/70 would shift risk to downside for a stronger retracement of indicated upmove towards 1.1220 (previous res, now sup).

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AceTraderFx Jun 13: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 13 Jun 2016 04:15 GMT

EUR/USD - 1.1250
Although euro's selloff to 1.1246 in New York session last Friday and then intra-day breach of this support ahead of Asian open signals fall from last Thursday's fresh 1-month peak at 1.1416 (Asia) to correct early upmove from May's 1.1098 trough has resumed.
Near term oversold condition should prevent steep fall and reckon 1.1159 would limit downside, bring subsequent rebound.

On the upside, only a daily close above 1.1337 would indicate aforesaid correction from 1.1416 has possibly ended and yield gain towards 1.1370, break confirms, 1.1416 again.

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AceTraderFx Jun 14: Daily Recommendations on Major EUR/USD

DAILY MARKET OUTLOOK

Update Time: 14 Jun 2016 02:29 GMT

EUR/USD - 1.1296
Although euro's rebound from 1.1232 to 1.1303 (New York) yesterday suggests early decline from last Thur's 1-month peak at 1.1416 has made a temporary low and choppy consolidation is in store, reckon res area at 1.1322/37 would cap intra-day again and yield another fall later today, loss of momentum should keep price above 1.1200.

On the upside, only a daily close above 1.1337 would risk stronger gain twd 1.1383/93 before prospect of another retreat.

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