[B]EUR/USD - 1.1408[/B]
The single currency’s rally above Monday’s high at 1.1373 to as high as 1.1441 on dollar’s broad-based weakness after the Federal Reserve refrained from hiking its interest rates suggests recent erratic uptrend from 1.1087 to retrace decline from August’s peak at 1.1715 remains in progress and consolidation with upside bias would be seen for gain towards 1.1470/80, however, loss of momentum should keep price below 1.1531 and yield a correction.
On the downside, only a daily close below 1.1275 would confirm a temporary top has been made and yield stronger pullback towards 1.1220/30.
[B]EUR/USD - 1.1305[/B]
Euro’s near term reversal from a 3-week peak of 1.1460 (European high) to as low as 1.1267 and New York session on Friday due to broad-based buying in the usd confirms euro’s recent erratic upmove from September’s 1.1087 low has formed a top there and consolidation with downside bias is in store in next few days.
Expect 1.1350/60 to cap intra-day recovery and yield further weakness towards 1.1214.
However, near term oversold condition should prevent steep fall today and reckon minor sup at 1.1172 would remain intact and bring subsequent rebound.
[B]EUR/USD - 1.1204[/B]
Euro’s near term reversal from a 3-week peak of 1.1460 (European high) to as low as 1.1267 in New York session on Friday, and then further lower to 1.1181 on Monday due to broad-based buying in the USD confirms euro’s recent erratic upmove from September’s 1.1087 low has formed a top there and consolidation with downside bias is in store in next few days.
Expect 1.1330/40 to cap intra-day recovery and yield further weakness towards 1.1172.
However, near term oversold condition should prevent steep fall today and reckon minor sup at 1.1131 would remain intact and bring subsequent rebound.
[B]EUR/USD - 1.1185[/B]
Despite euro’s selloff on Tuesday below Monday’s low at 1.1181 to 1.1105, subsequent rebound on ECB Draghi’s less dovish comments suggests the pullback from last Friday’s high at 1.1460 has ended there and consolidation with upside bias would be seen, above 1.1268 would add credence to this view and extend gain towards 1.1330.
However, resistance at 1.1373 should remain intact this week and yield retreat later.
On the downside, only below 1.1105 would revive bearishness for a re-test of September’s trough at 1.1087, break would confirm the erratic decline from August’s peak at 1.1715 has resumed and extend to 1.1018.
[B]EUR/USD - 1.1254[/B]
Despite Friday’s intra-day weakness to 1.1116 in European morning, subsequent erratic climb back to 1.1248 in New York afternoon on Monday suggests further ‘choppy’ trading above last Wed’s 2-1/2 week trough at 1.1105 would continue and marginal gain twd 1.1260/70 can’t be ruled out, reckon euro’s upside would falter well below last week’s peak at 1.1296 (Thursday) and yield another decline.
Look to sell euro on intra-day rise and below 1.1150/60 would encourage for weakness twd 1.1116 but break of 1.1105 needed to bring re-test of September’s bottom at 1.107 later this week.
[B]EUR/USD - 1.1252[/B]
Despite Friday’s intra-day weakness to 1.1116 in European morning, subsequent erratic climb back to 1.1248 in New York afternoon on Monday suggests further ‘choppy’ trading above last Wed’s 2-1/2 week trough at 1.1105 would continue and marginal gain twd 1.1260/70 can’t be ruled out, reckon euro’s upside would falter well below last week’s peak at 1.1296 (Thur) and yield another decline.
Look to sell euro on intra-day rise and below 1.1150/60 would encourage for weakness twd 1.1116 but break of 1.1105 needed to bring re-test of Sep’s bottom at 1.107 later this week.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]02 Oct 2015[/B] [I]02:58 GMT[/I]
[B]EUR/USD - 1.1190[/B]
Despite yesterday’s decline to 1.1135 in European morning, subsequent rebound on short-covering in euro, then intra-day rally in NY session to 1.1209 after mixed U.S. data suggests choppy sideways trading is in store ahead of the release of key U.S. jobs report.
As long as 1.1168 (Thur’s European morning high, now sup) holds, consolidation with upside bias remains remains for a retracement of this week’s fall from 1.1281 (Tue) twd 1.1237, however, reckon 1.1268 would cap intra-day gain and yield retreat.
On the downside, below 1.1135 would yield swift drop twd Sep’s 1.1087 bottom, below would signal a downside break of the 1-month long broad sideways trading has occured and would yield weakness twd 1.1018 early next week.
[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 05 Oct 2015[/B][I] 01:18 GMT[/I]
[B]EUR/USD - 1.1225[/B]
Although price has retreated after Friday’s rally to 1.1319 and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1319, break would yield stronger retracement of decline from 1.1459 towards 1.1330.
However, near term loss of momentum would keep price well below 1.1390 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 06 Oct 2015[/B] [I]01:21 GMT[/I]
[B]EUR/USD - 1.1180[/B]
Although price has retreated after Friday’s rally to 1.1319 and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1319, break would yield stronger retracement of decline from 1.1459 towards 1.1330.
However, near term loss of momentum would keep price well below 1.1390 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
[B]DAILY MARKET OUTLOOK [/B]
Update Time:[B] 07 Oct 2015 [/B][I] 01:16 GMT[/I]
[B]EUR/USD - 1.1262[/B]
Although price has retreated after Friday’s rally to 1.1319 and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1319, break would yield stronger retracement of decline from 1.1459 towards 1.1330.
However, near term loss of momentum would keep price well below 1.1390 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]08 Oct 2015[/B] [I]01:11 GMT[/I]
[B]EUR/USD - 1.1240[/B]
Although price has retreated after Friday’s rally to 1.1319 and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1319, break would yield stronger retracement of decline from 1.1459 towards 1.1330.
However, near term loss of momentum would keep price well below 1.1390 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
[B]DAILY MARKET OUTLOOK
[/B]Update Time: [B]09 Oct 2015[/B] [I]01:21 GMT[/I]
[B]EUR/USD - 1.1281[/B]
Although price has retreated after yesterday’s breach of last Friday’s high at 1.1319 to 1.1328 on dovish FOMC minutes and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1328, break would yield stronger retracement of decline from 1.1459 towards 1.1373.
However, near term loss of momentum would keep price well below 1.1390 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: 13 Oct 2015 [I]01:28 GMT[/I]
[B]EUR/USD - 1.1351[/B]
Although price has retreated after Friday’s breach of last October’s high at 1.1319 to 1.1387 on dovish FOMC minutes and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1387, break would yield stronger retracement of decline from 1.1460 towards 1.1405/10.
However, near term loss of momentum would keep price well below 1.1336 (previous support, now resistance) and yield retreat.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]14 Oct 2015[/B] [I]01:39 GMT[/I]
[B]EUR/USD - 1.1389[/B]
Although price has retreated after yesterday’s breach of Monday’s high at 1.1397 to 1.1411 on dollar’s broad-based weakness and further choppy trading is likely to be seen, as aforesaid move signals the recent upmove from 1.1105 has resumed, upside bias is seen for gain towards 1.1411, break would yield stronger retracement of decline from 1.1460 towards 1.1425/60.
However, near term loss of momentum would keep price well below aforesaid top.
On the downside, only below 1.1150 would confirm a temporary top has been made and turn outlook bearish for further weakness to 1.1120/25.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]16 Oct 2015[/B] [I]01:22 GMT[/I]
[B]EUR/USD - 1.1364[/B]
Despite yesterday’s rise above Wednesday’s high at 1.1489 to 1.1495, subsequent selloff to suggests the erratic upmove from September’s trough at 1.1087 has formed a temporary top there and consolidation with downside bias would be seen for a stronger retracement towards 1.1319 (previous resistance, now support).
However, loss of near term momentum would keep price above 1.1296 and yield a much-needed correction early next week.
On the upside, only above 1.1460 would confirm aforesaid pullback has ended and turn outlook bullish for a re-test of 1.1495, break, 1.1510/20.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]19 Oct 2015[/B] [I]01:15 GMT[/I]
[B]EUR/USD - 1.1375[/B]
Despite Thursday’s rise above Wednesday’s high at 1.1489 to 1.1495, subsequent selloff to suggests the erratic upmove from September’s trough at 1.1087 has formed a temporary top there and consolidation with downside bias would be seen for a stronger retracement towards 1.1319 (previous resistance, now support).
However, loss of near term momentum would keep price above 1.1296 and yield a much-needed correction early next week.
On the upside, only above 1.1460 would confirm aforesaid pullback has ended and turn outlook bullish for a re-test of 1.1495, break, 1.1510/20.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]23 Oct 2015[/B] [I]01:08 GMT[/I]
[B]EUR/USD - 1.1105[/B]
The single currency’s selloff yesterday to 1.1114 on dovish comments from ECB President Mario Draghi, then lower to 1.1071 ahead of Asian open today signals the erratic decline from August’s high at 1.1715 has once again resumed and consolidation with downside bias would be seen for further weakness towards 1.1040/50.
However, over sold condition would keep price above daily support at 1.1018 and yield a much-needed recovery early next week.
On the upside, only above 1.1296 would be the 1st signal that a temporary low has been made and yield stronger retracement towards 1.1319/20.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]27 Oct 2015[/B] [I]01:09 GMT[/I]
[B]EUR/USD - 1.1045[/B]
The single currency’s selloff last week on dovish comments from ECB President Mario Draghi to 1.0997 on Friday, then lower to 1.0989 yesterday signals the erratic decline from August’s high at 1.1715 has once again resumed and consolidation with downside bias would be seen for further weakness towards 1.0960/70.
However, over sold condition would keep price above support at 1.0938 and yield a much-needed recovery later this week.
On the upside, only above 1.1296 would be the 1st signal that a temporary low has been made and yield stronger retracement towards 1.1319/20.
[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 28 Oct 2015[/B] [I]02:35 GMT[/I]
[B]EUR/USD - 1.1037[/B]
The single currency’s selloff last week on dovish comments from ECB President Mario Draghi to 1.0997 on Friday, then lower to 1.0989 on Monday signals the erratic decline from August’s high at 1.1715 has once again resumed and consolidation with downside bias would be seen for further weakness towards 1.0960/70.
However, over sold condition would keep price above support at 1.0938 and yield a much-needed recovery later this week.
On the upside, only above 1.1296 would be the 1st signal that a temporary low has been made and yield stronger retracement towards 1.1319/20.
[B]DAILY MARKET OUTLOOK[/B]