[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]22 May 2015 [/B][I]01:23 GMT[/I]
[B]EUR/USD - 1.1122[/B]
Euro’s erratic rise from Wednesday’s low at 1.1062 to as high as 1.1181 in Europe yesterday signals decline from last Friday’s 3-month peak at 1.1467 has made a temporary low there and despite subsequent intra-day retreat in New York session, reckon price would hold above said support and bring another corrective bounce later, above 1.1181 would extend gain to 1.1217 later.
On the downside, only below 1.1062 would extend aforesaid fall to retrace the entire upmove from March’s 12-year trough at 1.0457 towards 1.0962 next week.
[B]DAILY MARKET OUTLOOK
[/B]Update Time: [B]26 May 2015[/B] [I]01:53 GMT[/I]
[B]EUR/USD - 1.0936[/B]
Despite trading narrowly in holiday-thinned North American session on Monday, euro-bearish news on Greek debt repayment which came out earlier in Australia sent the euro lower at Asian open today to a fresh 3-week low of 1.0931.
this is suggesting the recent decline from May’s 3-month peak at 1.1467 would pressure price to 1.0900/10 after consolidation, near term ‘loss of momentum’ should keep euro above dynamic sup at 1.0843 today (being 61.8% r of 1.0457-1.1457).
On the upside, only above 1.1008/10 res would signal a temporary low is made, yield stronger retracement to 1.1040/43 but 1.1062 (previous sup, now res) should remain intact and yield another decline.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]27 May 2015[/B] [I]01:30 GMT[/I]
[B]EUR/USD - 1.0867[/B]
Euro’s sell off below Monday’s low at 1.0959 (now resistance) to 1.0863 yesterday signals fall from May’s 3-month peak at 1.1467 to retrace erratic upmove from March’s 12-year trough at 1.0457 remains in progress and further weakness to 1.0843/49 and then 1.0800 would be seen before rebound occurs due to ‘loss of momentum’.
On the upside, only a daily close above 1.0959 (previous support) would indicate a low is possibly made and shift risk to upside for subsequent gain towards 1.1008/10.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]28 May 2015 [/B] [I]01:09 GMT[/I]
[B]EUR/USD - 1.0913[/B]
Euro’s strong rebound from a fresh 1-month trough at 1.0819 on Wednesday due to optimism over Greek debt deal suggests a temporary low has been made and choppy trading with mild upside bias would be seen.
However, above 1.0959 (previous support, now resistance) needed to confirm this view and yield stronger retracement of decline from May’s 3-month peak at 1.1467 towards 1.1008/10.
On the downside, below 1.0819 would extend aforesaid fall to retrace the entire rise from March’s 12-year trough at 1.0457 towards 1.0740/50 but reckon 1.0700/10 would hold.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]29 May 2015[/B] [I]01:13 GMT[/I]
[B]EUR/USD - 1.0961[/B]
Euro’s strong rebound from Wednesday’s fresh 1-month trough at 1.0819 and then breach of 1.0959 (previous support and subsequent resistance) signals decline from May’s 3-month peak at 1.1467 has made a temporary low there and choppy trading with mild upside bias would be seen.
However, reckon measured resistance at 1.1030 would cap upside today and yield retreat later.
On the downside, only below 1.0819 would extend aforesaid fall to retrace the entire rise from March’s 12-year trough at 1.0457 towards 1.0740/50 and then 1.0700/10.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]01 Jun 2015[/B] [I]00:54 GMT[/I]
[B]EUR/USD - 1.0940[/B]
Euro’s retreat after a brief rise to 1.1006 Friday suggests the correction from last Wednesday’s fresh 1-month trough at 1.0819 has possibly ended there and consolidation with downside bias is seen.
However, only a break of 1.0867 support would confirm this view and bring resumption of decline from May’s peak at 1.1467 to re-test said temporary low and then 1.0785 later.
On the upside, above 1.1006 would yield marginal gain but resistance at 1.1059/62 should remain intact.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]02 Jun 2015[/B] [I]01:20 GMT[/I]
[B]EUR/USD - 1.0927[/B]
Euro’s erratic fall from last Friday’s high of 1.1006 to 1.0887 yesterday suggests the correction from last Wednesday’s fresh 1-month trough at 1.0819 has ended there and consolidation with downside bias remains, however, only a break of 1.0867 support would encourage for a re-test of said support and then resumption of decline from May’s peak at 1.1467 to 1.0785 later.
On the upside, above 1.1006 would defer present bearishness on euro and yield marginal gain but resistance at 1.1059/62 should remain intact.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]03 Jun 2015[/B] [I]01:12 GMT[/I]
[B]EUR/USD - 1.1146[/B]
Euro’s rally above 1.1006 (Friday high, now support) to as high as 1.1195 yesterday on optimism of Greek debt deal signals decline from May’s 3-month peak at 1.1467 has made a low last Wednesday at 1.0819 and consolidation with upside bias remains, above said resistance would extend gain to 1.1205/15 and then 1.1240/50 but reckon price would falter well below previous daily resistance at 1.1290 today.
On the downside, only a daily close below aforesaid 1.1006 would confirm a top is made instead and shift risk to downside for subsequent weakness to 1.0920/30.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]04 Jun 2015[/B] [I]01:05 GMT[/I]
[B]EUR/USD - 1.1265[/B]
Euro’s rally above Tuesday’s high of 1.1195 (now support) to a fresh 2-week high of 1.1285 in New York on Tuesday suggests the 3-legged fall from May’s 3-month peak at 1.1467 has possibly ended last week at 1.0819 and consolidation with upside bias remains.
However, a daily close above 1.1392 is needed to confirm this view and bring re-test of said resistance later.
Below 1.1079 (yesterday’s low in New York morning) would indicate a top is made instead and shift risk to downside for weakness to 1.1006 and then 1.0940/50.
[B]Intra-day Market Moving News and Views
04 Jun 2015[/B] [I]07:05GMT[/I]
[B]EUR/USD [/B]- ..... Despite yesterday's ferocious rally to a 2-week high of 1.1285 in NY morning after 10-year German Bund yields staged its sharpest 2-day rise since 1998, euro pared yesterday's gain as intra-day Bund yields eased, currently 0.899% vs Wednesday's high of 0.954% (intra-day traders are advised to follow short-term interest rate swings).
The single currency fell from Asian high at 1.1276 to 1.1235 in early European trading after tripping stops below 1.1240, current softness suggests choppy trading with downside bias remains.
As yesterday’s rally was partly driven by heavy stoploss-buying, not a lot of bids are noted, a mixture of buying interest and stops is reported at 1.1195-85, below there would spark more technical selling.
Offers are seen at 1.1250-60 and more above with stops touted above 1.1300.
After a slew of heavy EZ eco. data in last few days, no European data are due out today but Jean-Claude Juncker, President of European Commission, is due to make a speech at 08:00GMT.
[B]DAILY MARKET OUTLOOK
[/B]Update Time: [B]05 Jun 2015[/B] [I]01:16 GMT[/I]
[B]EUR/USD - 1.1208[/B]
Euro’s sell off after a brief rally to a fresh 2-1/2 week peak at 1.1380 in Europe on Thursday and then subsequent fall below of 1.1195 (previous res) signals upmove from last week’s bottom at 1.0819 has made a temporary top there and consolidation with downside bias would be seen.
However, reckon daily support at 1.1079 would contain weakness and yield rebound later.
On the upside, only above 1.1380 would retain bullishness for stronger gain towards May’s 3-month peak at 1.1467.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]08 Jun 2015[/B] [I]01:33 GMT[/I]
[B]EUR/USD - 1.1100[/B]
Euro tumbled from 1.1280 to as low as 1.1149 on Friday following the release of robust U.S. non-farm payroll data suggests correction from last Monday’s low at 1.0819 has ended Thursday at 1.1380 and consolidation with downside bias remains, below said support would add credence to this view and yield weakness towards 1.1006 (previous resistance, now support) later.
On the upside, only a move back above 1.1280 would dampen this bearish scenario and shift risk to upside for subsequent gain towards 1.1380.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]09 Jun 2015[/B] [I]01:14 GMT[/I]
[B]EUR/USD - 1.1283[/B]
Despite euro’s sharp sell off to 1.1049 last Friday following the release of upbeat U.S. non-farm payroll data, yesterday’s rally to 1.1307 suggests correction from last week’s top at 1.1380 has ended there and consolidation with upside bias would be seen.
However, only a break of said resistance would retain bullishness and extend early rise from 1.0819 towards May’s 3-month peak at 1.1467 later.
On the downside, below 1.1178 (previous resistance, now support) would prolong choppy trading but support at 1.1049 should remain intact.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]10 Jun 2015[/B] [I]00:58 GMT[/I]
[B]EUR/USD - 1.1297[/B]
As euro has staged a strong rebound after yesterday’s intra-day sell off from 1.1345 to 1.1214, suggesting further choppy trading inside recent established broad range of 1.1467-1.0819 would continue and marginal gain above last week’s peak at 1.1380 would be seen.
However, price should falter well below aforesaid upper range level at 1.1467 and bring retreat later.
On the downside, only a daily close below 1.1214 turn outlook bearish and yield weakness to 1.1178/80 and then 1.1000/10.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]11 Jun 2015[/B] [I]01:10 GMT[/I]
[B]EUR/USD - 1.1300[/B]
Euro’s rally above 1.1345 (Tuesday) and then last week’s peak at 1.1380 to a fresh 3-week high of 1.1387 on Wednesday signals correction from May’s peak at 1.1467 has ended earlier at 1.0819 and despite subsequent to 1.1260.
However intra-day rebound to 1.1353 in New York on hopes of a Greek deal suggests upside bias remains for a re-test of said high later this month.
On the downside, only below 1.1214 would indicate further choppy trading inside 1.1467-1.0819 broad range would continue and yield weakness towards 1.1178/80 and possibly towards 1.1049 before rebound occurs.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]12 Jun 2015 [/B][I] 01:17 GMT[/I]
[B]EUR/USD - 1.1255[/B]
Euro’s retreat from Wednesday’s high of 1.1387 to 1.1181 yesterday following the release of upbeat U.S. retail sales reports signals recent upmove from May’s bottom at 1.0819.
This has made a temporary top there and as long as 1.1332 (yesterday’s high) holds, choppy trading with downside bias remains.
However below 1.1178/81 would bring another corrective decline towards 1.1136 later.
On the upside, only a move back above 1.1132 would indicate pullback over and bring re-test of 1.1387 but firm break needed to encourage for gain towards May’s 3-month peak at 1.1467.
[B]DAILY MARKET OUTLOOK
15 Jun 2015[/B] [I]00:01GMT[/I]
[B]EUR/USD - 1.1220[/B]
Although Friday’s rally from 1.1151 to as high as 1.1297 (NY) signals 1st leg of correction from Wednesday’s 3-week peak at 1.1387 has ended, intra-day gap-down open to 1.1208/09 in NZ on breakdown in Greek talk suggests downside bias remains.
Exit long as below 1.1181 would risk re-test of 1.1151.
Only above 1.1270 yields 1.1297, above, 1.1332.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]16 Jun 2015[/B] [I]01:00 GMT[/I]
[B]EUR/USD - 1.1273[/B]
Euro’s strong rebound from 1.1189 to 1.1295 on Monday suggests consolidation with upside bias remains and above resistance at 1.1297 would signal correction from last Wednesday’s fresh 3-week peak at 1.1387 has ended earlier at 1.1151 on Friday, yield further gain to 1.1332 and then 1.1387 later this week.
On the downside, only a move back below 1.1151 would abort this mildly bullish scenario and risk stronger retracement of up move from May’s bottom at 1.0819 towards 1.1115 before prospect of a rebound.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]17 Jun 2015[/B] [I]01:07 GMT[/I]
[B]EUR/USD - 1.1247[/B]
Despite euro’s brief rise to 1.1330 on Tuesday due to short-covering, subsequent intra-day sell off to 1.1204 suggests further choppy trading below last Wednesday’s 3-week peak at 1.1387 would continue and with mild downside bias, below 1.1204 would extend weakness to 1.1175/80 but support at 1.1151 may hold today.
On the upside, above 1.1295/97 would prolong sideways trading and may bring another bounce to 1.1320/30.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]18 Jun 2015[/B] [I]01:26 GMT[/I]
[B]EUR/USD - 1.1355[/B]
Despite euro’s brief sell off to 1.1206 following the release of Fed’s unchanged rate decision, renewed broad-based weakness in the greenback lifted price from there.
Euro later rallied to 1.1358 due to dovish remarks from Fed’s Chair Yellen, suggesting a re-test of last Wednesday’s 3-week peak at 1.1387 would be seen and break would yield resumption of up move from May’s bottom at 1.0819 towards the key resistance at 1.1467 (May’s 3-month peak) later.
On the downside, only a daily close below 1.1300 would indicate further choppy trading inside 1.1387-1.1151 broad range would continue and may yield another fall towards 1.1204-06.