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.

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