[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]23 Feb 2016[/B] [I]02:45 GMT[/I]
EUR/USD - 1.1043
Euro’s selloff below 1.1067/71 sup (now res) yesterday’s to 1.1003 in New York suggests decline from Feb’s 3-1/2 month peak at 1.1377 would resume after minor consolidation and further weakness to 1.0985 is envisaged.
However, near term loss of momentum should prevent steep fall and reckon 1.3950/60 would hold from here today and risk has increased for a much-needed correction to take place.
On the upside, a daily close above 1.1067 would confirm aforesaid decline has finally formed a temporary low, then stronger retracement to 1.1138/39 would follow, however, res at 1.1193 should remain intact.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]24 Feb 2016[/B] [I]04:48 GMT[/I]
EUR/USD - 1.1010
Although euro is expected to gain respite in Asia following yesterday’s intra-day decline from 1.1052 to 1.0990 following release of downbeat German Ifo data and initial consolidation is in store, outlook remains mildly bearish for recent decline from February’s 1.1377 peak to pressure price to 1.0950/60.
However, loss of near term downward momentum should prevent steep fall and risk has increased for a much-needed minor correction to take place later today or tomorrow.
On the upside, expect 1.1052 to hold and yield one more fall, only a daily close above 1.1067/71 would signal temporary bottom is finally in place and may bring stronger retracement towards 1.1093.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]25 Feb 2016[/B] [I]04:00 GMT[/I]
EUR/USD - 1.1027
Although yesterday’s rally from a fresh 3-week bottom of 1.0957 to as high as 1.1046 in New York session confirms euro’s recent decline from February’s 1.1377 peak has finally made a temporary low and 1-2 days of choppy consolidation is in store, as long as 1.1067/71 (previous ups, now res) holds, downside bias remains.
Below 1.0957 needed to extend marginal weakness, loss of momentum should keep price well above minor chart at 1.0904.
A firm rise above 1.1071 would signal long-awaited correction of aforesaid decline has taken place and risk stronger retracement towards 1.1138/39 before prospect of retreat next week.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: 26 Feb 2016 03:38 GMT
EUR/USD - 1.1049
Despite yesterday’s intra-day choppy swings after early decline to to Wed’s 3-week trough at 1.0957, subsequent rebound from 1.0987 to 1.1050 in New York session, then intra-day brief rise to 1.1060 in Asia today suggests recent fall from Feb’s 3-1/2 month peak at 1.1377 has made a temporary low and consolidation with upside bias remains for a long-overdue correction to 1.1090/00, near term o/bot condition should cap euro below 1.1138/39 res.
On the downside, only below 1.0987 sup suggests correction is over and risks re-test of 1.0957, however, loss of downward momentum should keep price well above minor daily sup at 1.0904 today.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]29 Feb 2016[/B] [I]04:35 GMT[/I]
EUR/USD - 1.0925
Euro’s intra-day selloff in New York session on Friday after release of a slew of upbeat U.S. economic data and subsequent breach of 1.0957 sup (now res) to a fresh 3-week trough of 1.0911/12.
This suggests recent decline from February’s 1.1377 peak to retrace medium-term upmove from 1.0523 (2015 December bottom) would pressure price towards 1.0849 (61.8% r) later this.
Today, outlook remains bearish for weakness to 1.0880/90 after consolidation and only a daily close above 1.0957 would indicate temporary low is in place and risk stronger retracement towards 1.1020/30 but res at 1.1068 (Friday’s high) should remain intact.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]01 Mar 2016[/B] [I] 04:33 GMT[/I]
EUR/USD - 1.0880
Despite yesterday’s anticipated resumption of recent decline from February’s 1.1377 peak to a fresh 3-week low of 1.0859 after data showed euro zone moved back into deflation, subsequent minor recovery in New York due to downbeat U.S. economic data suggests consolidation is in store.
As long as 1.0912 (last Friday’s low, now res) holds, marginal weakness is likely, however, loss of near term downward momentum should keep price above 1.0810 sup and bring correction later today or tomorrow.
A firm rise above 1.0912/22 would be the 1st signal temporary bottom is in place and bring stronger retracement twd 1.0957/63.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]09 Mar 2016 [/B]04:20 GMT
[B]EUR/USD - 1.0993[/B]
Despite yesterday’s anticipated resumption of upmove from last Wed’s 1-month bottom at 1.0826 to 1.1058 in New York morning on broad-based retreat in global equities, subsequent strong retreat to 1.0993 signals aforesaid rise has indeed formed a temporary top there and choppy trading with near term downside bias is seen ahead of Thursday’s ECB monetary policy meeting, however, reckon sup at 1.0940 would contain weakness and bring rebound later today or tomorrow.
Only above 1.1058/68 res area is needed to revive bullish prospect of further subsequent headway to 1.1100/05 whilst below 1.0940 may risk stronger retracement twd 1.0904.
[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 11 Mar 2016 [/B] [I]04:30 GMT[/I]
EUR/USD - 1.1200
Despite euro’s intra-day selloff from 1.0990 to a fresh 1-month low of 1.0822 after anticipated ECB’s rate cut and more easing measures, subsequent short-covering rebound and then a sharp rally to as high as 1.1218 following ECB President Draghi’s ‘no further rate cuts’ comments confirms correction from February’s 3-1/2 month peak at 1.1377 has ended there and outlook remains supportive for re-test of said res level later this month.
Today, expect 1.1116 would contain pullback and yield further headway to 1.1250 after consolidation but 1.1290/00 should cap upside.
On the downside, only below 1.1116 signals temporary top has been made and yield 1-2 days of consolidation before prospect of further rise.
[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 15 Mar 2016 [/B] [I] 05:02 GMT[/I]
[B]EUR/USD - 1.1106[/B]
Despite yesterday’s decline from 1.1176 (New Zealand) to 1.1099 in Europe in reaction to setback by Germany’s ruling CDU party in Sunday’s regional election, then a brief breach of 1.1081 sup to 1.1077 (interbank low) in New York, subsequent rebound suggests consolidation with upside bias is in store, above 1.1176 would signal pullback from last week’s high at 1.1218 (Thursday) has ended and yield gain towards 1.1250 later this week.
On the downside, only below 1.1058 (previous res, now sup) would risk stronger correction of upmove from last Thursday’s post-ECB rate cut 1-month bottom towards 1.1019 (50% r) before prospect of a rebound.
[B]DAILY MARKET OUTLOOK[/B]
Update Time:[B] 15 Mar 2016 [/B] [I]03:07 GMT[/I]
[B]EUR/USD - 1.1105[/B]
Despite yesterday’s ‘sterling-led’ marginal weakness below Mon’s 1.1077 low to 1.1072 in Europe, subsequent rebound to 1.1125 in New York following weak U.S. retail sales data suggests consolidation is in store initially and mild upside bias remains , a firm break above overead res area at 1.1125/35 would signal pullback from last Thursday’s 1.1218 peak has ended, then outlook would improve for further subsequent headway towards 1.1193.
On the downside, below 1.1072 would risk stronger retracement of euro’s early spectacular rally from last Thursday’s 1-month trough at 1.0821 towards 1.1058 (previous res, now sup), loss of momentum should keep price well above 1.1019 (50% r from 1.0821) and bring another rise later this week.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]22 Mar 2016 [/B] [I]03:13 GMT[/I]
[B]EUR/USD - 1.1237[/B]
Although euro’s weakness to 1.1234 yesterday and then intra-day brief break of this level in Asia today suggests recent upmove has made a temporary top at last Thursday’s 1-month peak at 1.1343 and further choppy consolidation is in store, as long as sup at 1.1206 holds, bullishness remains for another strong rebound, above 1.1285 would be the 1st signal said pullback is over and yield 1.1307, then later towards 1.1343.
Only a daily close below 1.1206 would risk stronger retracement to 1.1176, however, loss of momentum would keep euro above 1.1140/44 today.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]23 Mar 2016 [/B] [I]03:01GMT[/I]
EUR/USD - 1.1215
Despite euro’s recovery in New York session following yesterday’s decline from 1.1260 (Asia) to 1.1189 in Euroepan morning on news of terrorist attacks in Brussels, as this move signals recent upmove from March’s low at 1.0821 has made a temporary top last week at 1.1343 (Thursday), consolidation with downside bias remains for further weakness to 1.1140/45 but near term loss of momentum should limit downside to 1.1125.
On the upside, only a firm rise above 1.1260 signals 1st leg of correction is over and risks stronger gain to 1.1285, however, reckon res at 1.1307 should remain intact.
[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.