AceTraderforex Sept 11, 2013 : Daily Market Outlook on Minors/Crosses EUR/JPY

[B]DAILY EUR/JPY CROSS OUTLOOK - 133.25[/B]
11 Sep 2013 [I]04:23GMT[/I]

Y’day’s anticipated rally abv res at 132.74 (Jul) strongly suggests MT uptrend has resumed n a re-test of May’s 3-1/2 year peak at 133.82 is envisaged, break wud encourage for further gain to 134.15/25 later this week b4 correction occurs.

Hold long for this move. Only below 132.43 (previous res) wud indicate temp. top is made, 132.14.

[B]STRATEGY :[/B] Hold long

[B]POSITION : [/B]Long at 132.80

[B]OBJECTIVE :[/B] 133.80

[B]STOP-LOSS : [/B]132.80

[B]RES :[/B] 133.31/133.82/134.16

[B]SUP : [/B]133.88/132.43/132.14

INTRA-DAY EUR/JPY CROSS OUTLOOK - 140.25
27 Jan 2014
04:28GMT

Although euro’s intra-day rally after initial
brief break of Fri’s low at 139.76 (NY) to a fresh
6-week bottom at 139.20 suggests a temp. low has
been made n choppy trading is in store, reckon 140.
20/30 wud cap upside n yield subsequent retreat.

Hold short for 139.85 n exit on decline as 139.
45/50 wud remain intact. Abv 140.51 risks 140.80.


DAILY TECHNICAL OUTLOOK ON EUR/USD
06 Feb 2014
00:41GMT

Trend Daily Chart
Sideways

Daily Indicators
Falling

21 HR EMA
1.3527

55 HR EMA

1.3523

Trend Hourly Chart
Sideways

Hourly Indicators
Rising

13 HR RSI
58

14 HR DMI
+ve

Daily Analysis
Consolidation b4 decline resumes

Resistance
1.3603 - Last Wed’s low
1.3574 - Last Fri’s high
1.3555 - Y’day’s high

Support
1.3477 - Mon’s 2-month low
1.3455 - 38.2% r of 1.2745-1.3894
1.3399 - Nov 21 low

. EUR/USD - 1.3507
… The single currency fluctuated wildly in Wed NY session. Despite a brief bounce fm European 1.3499 low to 1.3555 in NY morning after release of less-than-expected U.S. ADP employment, euro dropped swiftly to 1.3504 on upbeat U.S. ISM non-manuf. report b4 recovering to 1.3546.

. Looking at the hourly chart, the erratic rise fm Mon’s 2-month low at 1.3477 to 1.3555 (Wed) is viewed as a minor retracement of recent decline fm Jan’s 2-year peak at 1.3894 n as long as indicated res at 1.3574 res (last Fri’s high) holds, outlook remains bearish for aforesaid fall to correct the intermediate MT rise fm 2013 trough at 1.2745 to resume after consolidation, below said sup wud extend weakness to next downside objective at 1.3455, this is the ‘minimum’ 38.2% r of 1.2745-1.3894, however, previous daily sup at 1.3399 wud contain downside n yield a much needed strg rebound later this week as ‘bullish convergences’ wud appear on the hourly oscillators on next decline.

. Today, we’re holding a short position in anticipation of a re-test of 1.3477. On the upside, only abv 1.3603/09 (last Wed’s low, now res n 50% r of 1.3740-1.3477 resp.) wud confirm a temp. low is made n risk retrace. twd 1.3677.

DAILY EUR/JPY CROSS OUTLOOK - 139.50
02 Mar 2014 [I]23:49GMT[/I]

Despite Fri’s rally to 141.11, intra-day gap-down
open to 139.39 suggests choppy trading below Feb’s
peak at 141.29 would continue with downside bias n
below 139.12 would extend weakness to 138.79 before
prospect of rebound later.

Sell on pullback with stop as indicated, above would
abort n risk gain to 140.78 but 141.29 would hold.

[B]Daily EUR/JPY CROSS OUTLOOK[/B] - 139.74

[B]15 May 2014[/B] [I]02:01GMT [/I]

Yesterday’s sell off below last Fri’s low at 139.88
to 139.49 signals erratic decline from Mar’s high at
143.79 to retrace up move from this year’s low at 136.
24 (Feb) has resumed and further weakness to 139.10/12
is envisaged but 138.79 would contain downside.

Sell on recovery with stop as indicated, above would
suggest a temp. low is made and risk gain to 140.72.

[B]STRATEGY :[/B] Sell at 139.95

[B]OBJECTIVE :[/B] 139.20

[B]STOP-LOSS :[/B] 140.30

[B]RES :[/B] 140.28/140.72/140.95

[B]SUP :[/B] 139.39/139.12/138.79