AceTraderForex Apr 22: Daily Market Outllook on Major -EUR/USD - Page 28
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  1. #271

    Smile AceTraderFx Apr 10: Daily Recommendations on Major -EUR/USD

    Update Time: 10 Apr 2017 05:11 GMT

    EUR/USD - 1.0582
    Friday's selloff to a 4-week low of 1.0581 confirms euro's recent decline from March's 1.0907 peak has resumed and as long as 1.0630 (previous sup, now res) holds, outlook remains mildly bearish for further weakness, oversold condition is likely to keep price above daily chart sup at 1.0525 today and risk has increased for a minor correction to take place soon.

    A daily close above 1.0630 would signal temporary bottom has been made and yield 1-2 days of consolidation, bring stronger retracement towards 1.0667, however, reckon res at 1.0684/89 would cap upside.

    Data to be released today:
    Japan current account, machine tool orders, Italy industrial output, EU sentix index and Canada housing starts.

  2. #272

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

    Update Time: 12 Apr 2017 05:30 GMT

    EUR/USD - 1.0600
    Yesterday's intra-day rally to 1.0631 in New York morning due to short covering suggests recent decline from 1.0907 (March high) has made a temporary low at Monday's fresh 4-week trough of 1.0571. Despite present retreat in Asia, 1.0571 should remain intact today and bring another corrective bounce towards 1.0660/70 later today.

    Only below 1.0571 would extend said decline towards next daily chart obj. at 1.0525.
    However, loss of downward momentum has increased risk of a much-needed correction soon.

  3. #273
    Join Date
    Apr 2017
    Newbie here. Thanks AceTraderForex. Been trading forex for only a short while, but have appreciated the BabyPips forum for quite some time. Keep the EUR/USD posts coming. I enjoy them. Cheers,

  4. #274

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

    Update Time: 18 Apr 2017 02:13 GMT

    EUR/USD - 1.0644
    Despite extending last week's decline to 1.0604 ahead of Asian open on Monday, subsequent erratic rise to 1.0670 in New York suggests further 'choppy' trading above April's 1.0571 bottom at 1.0571 would continue, as long as 1.0678 (reaction high) holds, consolidation with downside bias remains for another fall towards 1.0590.

    Only above 1.0678 would risk stronger retracement of recent fall from 1.0907 (mar high) towards 1.0702 before prospect of another fall later this week.

  5. #275

    Smile AceTraderFx Apr 19: Daily Recommendations on Major EUR/USD

    Update Time: 19 Apr 2017 02:11 GMT

    EUR/USD - 1.0723
    Yesterday's 'cable-led' rally above last week's 1.0678 high (now sup) to 1.0736 in New York session confirms early decline from March's 1.0907 peak has ended at 1.0571 and gain to 1.0775/80 is envisaged after consolidation, loss of upward momentum would cap price at 1.0800.

    On the downside, only a daily close below 1.0678 signals top has been made, then risk is seen for a stronger retracement to 1.0635 later.

    Data to be released later:
    Italy trade balance, WPI, EU CPI, core CPI, trade balance.
    U.S. mortgage applications and Fed Beige book.

  6. #276

    Smile AceTraderFx Apr 21: Daily Recommendations on Major -EUR/USD

    Update Time: 21 Apr 2017 05:19 GMT

    EUR/USD - 1.0718
    Although euro's strong retreat from Thursday's 3-week high of 1.0778 (Europe) in New York after news of fatal shooting in Paris confirms recent upmove has made a temporary top and sideways swings are in store, as long as 1.0678 (previous res, now sup) holds, upside bias remains but above 1.0778 needed to extend marginal gain to 1.0800/10 before correction.

    Below 1.0678 anytime would risk stronger retracement towards 1.0635.

    Data to be released:
    France manufacturing PMI, services PMI, Germany manufacturing PMI, services PMI, Italy industrial orders, EU manufacturing PMI, services PMI, current account, UK retail sales.
    Canada CPI, U.S. manufacturing PMI, services PMI, and home sales.

  7. #277

    Smile AceTraderFx Apr 24: Daily Recommendations on Major -EUR/USD

    Update Time: 24 Apr 2017 05:21 GMT

    EUR/USD - 1.0844
    Despite initial gap-up open and then a brief rise to a 5-month peak of 1.0939 shortly after New Zealand open as election win on the first round of French Presidential election by centrist Macron has triggered broad-based short-covering in the euro vs usd, yen, gbp and chf, intra-day strong retreat after short-term buying quickly fizzled out suggests temporary top has been made and 'choppy' sideways swings with downside bias is envisaged.

    As long as 1.0800 holds, stronger retracement towards 1.0778 would be seen, break would extend weakness to 1.0730/40 later today or tom but 1.0683 sup (Friday's low) should remain intact.

    Data to be released later:

    Germany Ifo business climate, current assessment, expectations, UK house price, CBI trends.
    Canada wholesale sales and U.S. National activity index on Monday.

  8. #278

    Smile AceTraderFx Apr 26: Daily Recommendations on Major -EUR/USD

    Update Time: 26 Apr 2017 01:50 GMT

    EUR/USD - 1.0937
    Although yesterday's brief break of Monday's 1.0939 high to a fresh 5-month peak of 1.0950 in New York on ECB sources the ECB may tweak its language following Thursday's policy meeting, as recent upmove is losing upward momentum, strong gain is not expected today and reckon 1.1000 (option barrier) would remain intact.

    On the downside, a daily below 1.0900 anytime signals temporary top is in place, then risk would shift to the downside for a stronger retracement towards 1.0852 later.

    Data to be released on Wednesday:
    Australia CPI, France consumer confidence, U.S. mortgage applications, building permits and Canada retail sales.

  9. #279

    Smile AceTraderFx Apr 27: Daily Recommendations on Major -EUR/USD

    Update Time: 27 Apr 2017 02:41 GMT

    EUR/USD - 1.0908
    Despite yesterday's stronger-than-expected decline from a fresh 5-1/2 month peak of 1.0951 (Europe) to 1.0856 in New York morning due to broad-based long liquidation in the euro, subsequent rebound after market was disappointed by Trump's vague tax plan suggests said correction is possibly over and consolidation with upside bias is seen ahead of ECB press conference.

    Above 1.091 would encourage for marginal gain, loss of momentum is likely to cap price below 1.1000.
    Below 1.0856 would shift risk to downside for stronger correction to 1.0821 sup, break may extend towards 1.0778.

    Data to be released on Thursday:
    Australia export price index, import price index, Japan BoJ rate decision.
    Germany consumer confidence, CPI, HICP, UK house price, CBI trades, Italy business confidence, consumer confidence, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, ECB rate decision.
    U.S. jobless claims, durable goods, trade balance, wholesale inventories and pending home sales.

  10. #280

    Smile AceTraderFx May 08: Daily Recommendations on Major -EUR/USD

    Update Time: 08 May 2017 05:08 GMT

    EUR/USD - 1.0976
    Despite initial gain to a near 6-month peak of 1.1024 in early New Zealand trading following expected election win by France's Macron, intra-day strong retreat to 1.0958 at Asian open suggests temporary top has been made and choppy trading is in store, as long as last Friday's post-NFP low at 1.0949/50 holds, upside bias remains for another bounce but above 1.1024 needed to head to 1.1040/50.

    A daily close below 1.0949 would risk stronger correction of recent uptrend to 1.0900 but reckon sup at 1.0876 would contain weakness.

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