AceTraderForex Apr 22: Daily Market Outllook on Major -EUR/USD

[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 08 Apr 2016[/B] [I]02:00 GMT[/I]

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.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]12 Apr 2016[/B] [I]05:00GMT[/I]

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.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]13 Apr 2016[/B] [I]04:03 GMT [/I]

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.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]14 Apr 2016 [/B] [I]04:09 GMT [/I]

EUR/USD - 1.1263
Euro’s selloff below support at 1.1346 yesterday confirms recent uptrend has made a temporary top at Tuesday’s fresh 5-1/2 month peak at 1.1465 and consolidation with downside bias remains.
However, near term o/sold condition may limit weakness to 1.1220 today and yield rebound later.

On the upside, only a daily close above 1.1346 would indicate a low has been made and yield subsequent gain towards 1.1401.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]18 Apr 2016[/B] [I] 04:02 GMT[/I]

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.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]27 Apr 2016[/B] [I]01:08 GMT[/I]

EUR/USD - 1.1306
Friday’s breach of previous week’s low at 1.1234 to 1.1218 in New York and then marginal weakness to a fresh 3-week trough at 1.1216 ahead of Asian open yesterday signals erratic decline from April’s 5-1/2 month peak at 1.1465 to retrace Medium Term uptrend has resumed and despite subsequent rebound to as high as 1.1340 yesterday, reckon daily resistance at 1.1399 would cap upside and downside bias remains for further weakness to next daily chart objective at 1.1144 after consolidation.

On the upside, only a daily close above 1.1399 would turn outlook bullish for subsequent gain to 1.1438 and then a possible re-test of 1.1465.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]4 May 2016[/B] [I]02:08 GMT[/I]

EUR/USD - 1.1480
Despite yesterday’s resumption of recent upmove and intra-day rally to an 8-month peak of 1.1617 in Europe, subsequent selloff in new York session due to broad-based short-covering in the greenback confirms temporary top has been made and consolidation with initial downside bias is seen, below 1.1447/48 support needed to bring stronger correction to 1.1410/14.

On the upside, above 1.1539/42 suggests 1st leg of correction is over and may bring stronger gain to 1.1580/85 but 1.1617 should remain intact ahead of release Fri’s key U.S. jobs data.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]06 May 2016[/B] [I]06:08 GMT[/I]

[B]EUR/USD [/B]- 1.1401
Yesterday’s selloff below 1.1467 sup (now res) to as low as 1.1386 in New York morning due to renewed broad-based USD’s strength ahead of release of key U.S. jobs report later today confirms euro’s medium-term uptrend from 1.0523 (December 2015) has formed a top at Tuesday’s 8-month peak at 1.1617 and consolidation with downside bias remains for further weakness 1.1310/20 later today or next Monday, oversold condition should keep price above 1.1272 sup.

On the upside, a daily close above 1.1467 (possibly due to downbeat U.S. payrolls data) would signal 1st leg of correction from 1.1617 over and risk stronger retracement towards 1.1530 but 1.1560/65 should cap upside.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]10 May 2016[/B] [I]01:08 GMT[/I]

EUR/USD - 1.1390
Euro’s selloff from 1.1481 to 1.1387 last Friday and intra-day breach of this support signals decline from last Tuesday’s 8-month peak at 1.1617 has once again resumed and consolidation with downside bias is seen for weakness towards 1.1360/70, then 1.1341.
However, near term loss of momentum would prevent steep fall below there and reckon support at 1.1310 would remain intact and yield rebound later.

On the upside, only above 1.1481 would indicate aforesaid pullback has ended instead and turn outlook bullish for gain towards 1.1530.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]11 May 2016[/B] [I]01:08 GMT[/I]

EUR/USD - 1.1374
Euro’s retreat yesterday and subsequent breach of Monday’s low at 1.1375 to 1.1359 signals decline from last Tuesday’s 8-month peak at 1.1617 has once again resumed and consolidation with downside bias is seen for weakness towards 1.1341.
However, near term loss of momentum would prevent steep fall below there and reckon support at 1.1310 would remain intact and yield rebound later.

On the upside, only above 1.1481 would indicate aforesaid pullback has ended instead and turn outlook bullish for gain towards 1.1530.

[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]13 May 2016[/B] [I]04:08 GMT[/I]

EUR/USD - 1.1373
Despite the single currency’s strong rebound from Tuesday’s low at 1.1359 to 1.1447 on Wednesday, yesterday’s retreat suggests aforesaid recovery is over and decline from last Tuesday’s 8-month peak at 1.1617 would resume after consolidation and extend towards 1.1341, then 1.1310 ahead of today’s U.S. retail sales data.
However, support at 1.1272 should hold and yield recovery later.

On the upside, only above 1.1415 would indicate pullback from 1.1447 has ended instead and turn outlook bullish for gain to said resistance.

[B]DAILY MARKET OUTLOOK on Major EUR/USD[/B]
Update Time: [B]16 May 2016[/B] [I]01:08 GMT[/I]

EUR/USD - 1.1306
The single currency’s selloff from last Wednesday’s high at 1.1447 to 1.1283 on Friday after the release of upbeat U.S. economic data signals decline from May’s 8-month peak at 1.1617 remains in progress and consolidation with downside bias would be seen for weakness towards 1.1272, then to 1.1234.
however, near term loss of momentum would keep price above April’s bottom at 1.1216 and yield rebound.

On the upside, only above 1.1359 (previous support, now resistance) would indicate a temporary low has been made and risk stronger retracement towards 1.1415.

[B]DAILY MARKET OUTLOOK on Major EUR/USD[/B]
Update Time: [B]19 May 2016[/B] [I]01:50 GMT[/I]

EUR/USD - 1.1225
Yesterday’s break of last week’s 1.1283 low to 1.1256 in European morning and then subsequent selloff after hawkish FOMC minutes to a 6-*week trough of 1.1206 (Reuters) in Australia today confirms decline from May’s 8-month peak at 1.1617 has once again resumed and expect 1.1256 to hold, yield further weakness towards next chart objective at 1.1144 which should hold on 1st testing today.

On the upside, only a daily close above 1.1283 signals a temporary low is in place, then risk is seen for a stronger retracement towards 1.1349 before of another fall next week.

[B]DAILY MARKET OUTLOOK on Major EUR/USD[/B]
Update Time: [B]20 May 2016[/B] [I]01:50 GMT[/I]

EUR/USD - 1.1302
Despite staging a recovery in New York session on Thursday after intra-day resumption of recent decline from May’s 8-month peak of 1.1617 to a 7-week trough of 1.1180 on minor short covering, outlook remains bearish for aforesaid fall to resume after consolidation.
However, near term loss of downward momentum should keep price above daily sup at 1.1144 today.

On the upside, only a daily close above 1.1256 (previous sup, now res) confirms temporary low is in place and risks stronger retracement towards 1.1288/93 before prospect of another fall next week.

[B]DAILY MARKET OUTLOOK on Major EUR/USD[/B]
Update Time: [B]27 May 2016[/B] [I]05:03 GMT[/I]

EUR/USD - 1.1188
Yesterday’s break of 1.1180 level to 1.1217 in New York morning confirms euro’s recent decline from May’s 8-month peak at 1.1617 has indeed formed a temporary low earlier at 1.1129 on Wed and several days of volatile consolidation with near term upside bias is seen, a daily close above res at 1.1243 needed to bring stronger retracement towards 1.1293 next week.

On the downside, below 1.1146/50 would suggests said correction is over and risk one more fall to 1.1200/10, however, ‘loss of momentum’ would keep price above 1.1070.

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

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.

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

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.

[B]DAILY MARKET OUTLOOK on Major EUR/USD[/B]
Update Time: [B]07 Jun 2016[/B] [I]02:18 GMT[/I]

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.

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

[B]EUR/USD - 1.1300[/B]
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).

[B]DAILY MARKET OUTLOOK on Major EUR/USD[/B]
Update Time: [B]14 Jun 2016 [/B][I]04:09 GMT[/I]

[B]EUR/USD - 1.1296[/B]
Although euro’s rebound from 1.1232 to 1.1303 (New York) yesterday suggests early decline from last Thursday’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 towards 1.1383/93 before prospect of another retreat.