AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 16 Jun 2016 05:07 GMT

EUR/USD - 1.1272
Although euro's selloff below Monday's low at 1.1232 to 1.1189 on Wednesday, subsequent rally to 1.1298 in New York yesterday following the release of unchanged Fed's rate decision and FOMC statement suggests further choppy trading above May's bottom at 1.1098 would continue with mild upside bias, a daily close above 1.1303 would indicate pullback from last Thursday's 1-month peak at 1.1416 has ended and yield gain to 1.1353 and later 1.1416 again.

On the downside, only below 1.1189 would bring further weakness to 1.1137 but 1.1098 should hold on 1st testing.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 17 Jun 2016 04:19GMT

EUR/USD - 1.1259
Despite yesterday's intra-day selloff which started at European open which later knocked euro sharply lower to a 2-week trough of 1.1131 in New York morning, subsequent 'sterling-led' ferocious short-covering rally to 1.1251 and then a brief rise to 1.1272 just ahead of Asian open today confirms euro's early fall from June's high at 1.1416 has formed a low and 1-2 days of choppy consolidation is in store.
A daily close above previous 1.1303 res is needed to bring stronger gain to 1.1353 whilst below 1.1189 would indicate correction is over and bring re-test of 1.1131 early next week.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 20 Jun 2016 04:09GMT

EUR/USD - 1.1351
Euro's intra-day 'pound-led' rally above Friday's high of 1.1296 to 1.1358 in Asian morning signals recent upmove from last Thursday's 2-week trough at 1.1131 has resumed and consolidation with upside bias would be seen today.
However, broad outlook is consolidative and reckon this month's top at 1.1416 would remain intact ahead of Jun 23 referendum and yield retreat later.

On the downside, below 1.1296 would indicate a temporary top has been made and bring retracement to 1.1242 but support at 1.1223 should hold.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 22 Jun 2016 04:09GMT

EUR/USD - 1.1244
Despite euro's rally from last Thursday's low at 1.1131 to 1.1383 in Asian on Monday signals correction from June's peak at 1.1416 has ended there, subsequent selloff to 1.1302 and then 1.1241 in New York yesterday following 'dovish' remarks from ECB's President Mario Draghi signals a temporary top has been made and choppy trading with downside bias for weakness towards 1.1223 and then 1.1179/89 is seen ahead of 23 June referendum.

On the upside, only above 1.1350 would confirm pullback over and bring re-test of 1.1383, break would extend gain to 1.1416 later.

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AceTraderFx Jun 23: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 23 Jun 2016 04:00GMT

EUR/USD - 1.1330
Although 'cable-led' rise above yesterday's high of 1.1338 to 1.1348 ahead of Asian open signals euro's pullback from Monday's high of 1.1383 has ended earlier 1.1237 on Tuesday, a break of said temporary high is needed to encourage for a re-test of June's peak at 1.1416, break would confirm erratic upmove from May's 2-month trough at 1.1098 has resumed and yield further headway to 1.1447 and later 1.1481.

On the downside, only below 1.1237 (yesterday's low) would turn near term outlook bearish for subsequent weakness to 1.1179/89 but last week's bottom at 1.1131 (Thursday) should remain intact ahead of the outcome of EU referendum.

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AceTraderFx Jun 24: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 24 Jun 2016 03:40GMT

EUR/USD - 1.1200
Despite euro's brief rise above yesterday's fresh 1-month peak at 1.1422 (New York) to 1.1432 in Australia, subsequent intra-day decline to 1.1271 and then 1.1180 in Asian morning due to latest vote count on EU referendum suggests re-test of last week's 1.1131 low may be seen but break is needed to extend weakness to May's bottom at 1.1098.

On the upside, a move back above would bring stronger retracement of early fall from May's 8-month peak at 1.1617 to 1.1481 and then possibly towards 1.1530 before down.

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AceTraderFx Jun 27: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 27 Jun 2016 04:00GMT

EUR/USD - 1.1010
Euro's selloff from a 1-month peak at 1.1432 to a fresh 3-month trough of 1.0912 following 'Brexit' outcome signals erratic decline from May's peak at 1.1617 has resumed n despite subsequent intra-day recovery to 1.1190, as long as 1.1230/40 holds, downside bias remains but below 1.0912 needed to extend aforesaid fall towards 1.0840/50.

On the upside, a move back above 1.1230/40 would confirm a low has been made and yield correction to 1.1300 and possibly 1.3160/70 but said 1.1432 resistance should remain intact.

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AceTraderFx Jun 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 28 Jun 2016 04:00GMT

EUR/USD - 1.1025
Despite yesterday's anticipated weakness from 1.1084 (Europe) to 1.0971 in New York morning, subsequent rebound suggests further volatile trading above last Friday's 3-month bottom at 1.0912 would continue, as long as 1.1075/85 res holds, downside bias remains, below 1.091 would encourage for re-test of 1.0912.

On the upside, above said res area would dampen present bearish scenario and may risk another bounce to 1.1140/50, however, reckon 1.190 (reaction high from 1.0912) should cap upside and yield another fall later.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 29 Jun 2016 02:20GMT

EUR/USD - 1.1055
Euro's erratic rise from 1.0971 (Monday) to 1.1121 in Europe yesterday suggests further 'choppy' trading above last Friday's 3-month bottom at 1.0912 would continue and despite subsequent retreat to 1.1034 in New York session, as long as 1.1000/10 holds, consolidation with mild upside bias remains, above 1.1112 would extend marginal gain but previous res at 1.1180/90 should hold until release of Friday's key U.S. jobs data.

A daily close below 1.1000 would signal correction from 1.0912 has ended, then re-test of this level would be seen later.

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

DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 30 Jun 2016 02:20GMT

EUR/USD - 1.1107
Euro's erratic rise from 1.0971 (Monday) to 1.1130 in New York yesterday and then 1.1134 ahead of Asian open today suggests further 'choppy' trading above last Friday's 3-month trough at 1.0912 would continue and as long as support at 1.1034 holds, consolidation with mild upside bias remains, above 1.1134 would extend marginal gain but previous res at 1.1180/90 should hold .
On the downside, a daily close below 1.1034 would signal correction from 1.0912 has ended, then re-test of this level would be seen later.

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