[B]DAILY MARKET OUTLOOK [/B]
Update Time:[B] 20 Jul 2015[/B][I] 00:28 GMT[/I]
[B]EUR/USD - 1.0829[/B]
Euro’s intra-day brief break of Friday’s 5-week low at 1.0829 suggests re-test of key daily sup at 1.0819 (May low) would be forthcoming soon, a break there would confirm early erratic fall from 1.1467 (May top) has finally resumed and yield subsequent weakness to next daily chart objective at 1.0785, near term loss of momentum should keep euro above 1.0700/10.
Expect 1.0871/72 (previous sup, now res) to hold and yield aforesaid decline and only above 1.0907 (Friday high) would dampen bearishness, risk 1.0926/30.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]21 Jul 2015[/B] [I]01:21 GMT[/I]
[B]EUR/USD - 1.0825[/B]
Euro’s brief break of daily key support at 1.0819 (May) to 1.0808 near New York close confirms early erratic fall from 1.1467 (May top) has finally resumed and further weakness to next daily chart objective at 1.0785 would be seen.
However, near term loss of momentum should keep euro above 1.0700/10 today and bring correction later.
Expect 1.0870/73 (yesterday’s high, and previous support, now resistance) to hold and yield aforesaid decline and only above 1.0907 (Friday high) would dampen bearishness, risk 1.0926/30.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]22 Jul 2015[/B] [I]01:11 GMT[/I]
[B]EUR/USD - 1.0947[/B]
Yesterday’s intra-day rally after holding above Monday’s fresh near 2-month trough at 1.0808 to as high as 1.0969 in New York signals erratic decline from 1.1467 (May top) has made a temporary low there and several days of choppy consolidation would be seen.
However, reckon price would falter well below resistance at 1.1083 and yield another sell-off later.
On the downside, a daily close below 1.0900/10 would indicate recovery over and bring re-test of 1.0808, break would extend weakness to daily chart objective at 1.0785 next.
[B] DAILY MARKET OUTLOOK[/B]
Update Time: [B]23 Jul 2015[/B] [I]01:26 GMT[/I]
[B]EUR/USD - 1.0936[/B]
Despite yesterday’s stronger-than-expected sharp retreat from 1.0967 in Europe to as low as 1.0869 in New York morning, as euro has risen sharply in New York afternoon. suggesting pullback from Tuesday’s 1.0969 high has ended there and consolidation with upside bias remains for near term up-move from Monday’s 12-week bottom at 1.0808 to resume to 1.1000/10.
However, loss of momentum should cap price below minor res at 1.1036 and yield retreat.
On the downside, only below 1.0869 would abort above short- term bullish scenario on euro as risk would shift to the downside for weakness towards 1.0808/12.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]24 Jul 2015[/B] [I]01:18 GMT[/I]
[B]EUR/USD - 1.0988[/B]
Euro’s rally above Tuesday’s high of 1.0869 to 1.1005 in European and then 1.1019 in New York confirms decline from May’s peak at 1.1467 has formed a temporary low at Monday’s 12-week bottom at 1.0808 and as long as 1.0922/23 support holds, upside bias remains for stronger retracement towards chart resistance at 1.1083 which is likely to hold today.
On the downside, only below 1.0869 would abort above short-term bullish scenario on euro as risk would shift to the downside for weakness towards 1.0808/12.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]27 Jul 2015[/B] [I]00:58 GMT[/I]
[B]EUR/USD - 1.0988[/B]
Euro’s retreat from last Thursday’s high of 1.1019 to as low as 1.0925 Friday signals 1st leg of correction from last Monday’s 12-week bottom at 1.0808 has ended there.
While as long as the said resistance holds, further weakness towards 1.0889 (61.8% r of 1.0808-1.1019) would be seen.
However, reckon support at 1.0869 would remain intact and yield rebound later.
On the upside, only a move back above 1.1019 would indicate recent decline is still being retraced and extend gain to 1.1036/40 and then possibly towards 1.1083 before prospect of a retreat.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]28 Jul 2015[/B] [I]01:23 GMT[/I]
[B]EUR/USD - 1.1092[/B]
Yesterday’s rally above 1.1019 (now sup) to as high as 1.1129 in NY morning signals erratic decline from May’s peak at 1.1467 has made a temporary low last week at 1.0808 and as long as support at 1.1050 holds, consolidation with upside bias remains, above 1.1129 would yield stronger retracement towards 1.1160/70 but reckon daily resistance at 1.1216 would remain intact today.
On the downside, only a daily close below 1.1019 (previous resistance, now support) would indicate a top is made and shift risk downside for weakness towards 1.0969.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]29 Jul 2015[/B] [I]01:00 GMT[/I]
[B]EUR/USD - 1.1075[/B]
Despite euro’s retreat from Monday’s high of 1.1129 to 1.1022 yesterday, subsequent rebound suggests as long as 1.1019 (previous resistance, now support) holds, consolidation with upside bias remains.
However, break of said temporary high at 1.1129 is needed to signal the rise from last Monday’s fresh 12-week trough at 1.0808 to retrace decline from May’s peak at 1.1467 has resumed and yield further gain to 1.1160/70, then possibly towards 1.1216.
Below 1.1019/22 would shift risk to downside for further weakness to 1.0968 (50% r of 1.0808-1.1129) but support at 1.0925 should remain intact.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]30 Jul 2015[/B] [I]01:10 GMT[/I]
[B]EUR/USD - 1.0967[/B]
Euro’s close below 1.1022 on Wednesday after an intra-day sharp sell-off from 1.1080 to 1.0967 in post-FOMC New York session signals up-move from July’s 12-week trough at 1.0808 has made a temporary top at 1.1129 on Monday and consolidation with downside bias is seen for a retracement to 1.0940/50, however, reckon support at 1.0925 would hold and yield rebound later.
On the upside, a move back above 1.1080 would confirm correction over and bring re-test of 1.1129, break would extend aforesaid rise towards 1.1150/60.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]31 Jul 2015[/B] [I]01:07 GMT[/I]
[B]EUR/USD - 1.0936[/B]
Euro’s decline from this week’s high of 1.1129 (Monday) to as low as 1.0894 yesterday signals correction from July’s 12-week bottom at 1.0808 has ended there and as long as 1.1122 (previous support, now resistance) holds, consolidation with downside bias remains, a daily close below 1.0869 would retain bearishness for a re-test of 1.0808 next week.
On the upside, only a move back above 1.1122 would prolong choppy trading but price should falter below 1.1080 (post-FOMC high on Wed) and yield another fall.
[B]DAILY MARKET OUTLOOK [/B]
Update Time:[B] 03 Aug 2015[/B][I] 01:01 GMT[/I]
[B]EUR/USD [/B]- 1.0980
Euro’s strong retreat to 1.0965 in NY session on Friday after early intra-day brief rally to 1.1114 signals further choppy trading below last week’s top at 1.1129 would continue and with mild downside bias.
However, break of 1.0894 (reaction low on Thursday) needed to indicate correction from July’s 12-week trough at 1.0808 has ended and yield weakness towards this support later this week.
On the upside, only a move back above 1.1114 would bring re-test of 1.1129, break would shift risk to upside for stronger retracement of early erratic fall from 1.1467 (May) towards 1.1216.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]05 Aug 2015[/B] [I]01:04 GMT[/I]
[B]EUR/USD - 1.0875[/B]
Yesterday’s breach of last week’s low at 1.0894 ansd then daily close below there signals euro’s correction from July’s 12-week trough at 1.0808 has ended earlier at 1.1129 and consolidation with downside bias remains. However, break of 1.0808 needed to confirm MT decline from 1.1467 (May) has resumed and extend weakness to 1.0700 later in this month.
On the upside, a move back above 1.0988/96 would prolong choppy trading but price should falter well below resistance area a 1.1114-29 and yield another sell-off.
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[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]06 Aug 2015[/B] [I]01:00 GMT[/I]
[B]EUR/USD[/B] - 1.0913
Despite euro’s sharp retreat from 1.0938 to 1.0850 in New York after release of upbeat U.S. services PMI and ISM non-manufacturing PMI, subsequent rebound after holding above yesterday’s low at 1.0848 (Asia) suggests further choppy trading would continue.
However, as early breach of last week’s bottom at 1.089 indicates correction from July’s 12-week trough at 1.0808 has ended earlier at 1.1129, consolidation with downside bias remains but below 1.0808 needed to confirm MT decline from 1.1467 (May) has resumed and extend weakness to 1.0700 later in this month.
On the upside, only a move back above 1.0988/96 would shift risk to upside for stronger gain to 1.1060/70 but resistance area a 1.1114-29 should remain intact.
[B]Intra-day Market Moving News and Views
07 Aug 2015[/B] [I]08:31GMT[/I]
[B]EUR/USD[/B] - ..... The single currency found renewed buying after a brief drop to 1.0907 at European open and then ratcheted higher to 1.0950 due to active cross-buying in euro vs other major ccys (jpy, gbp n chf), however, profit-taking emerged there and swiftly knocked price to 1.0927.
Earlier, data from Destatis showed German industrial production fell unexpectedly with an adjusted annual rate of 1.4%, from +0.2% in the preceding month.
In a separate report, Destatis said that Germany’s trade balance rose to 24.0 bln euros, from 19.5 bln euros in the preceding month whose figure was revised down from 22.8 bln euros.
At the moment, bids are reported in 1.0920-1.0900 region with bids and stops touted at 1.0880-70, whilst offers from various accounts are tipped at 1.0960-70 with stops reported just above 1.0980.
[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]10 Aug 2015[/B] [I]02:28 GMT[/I]
[B]EUR/USD[/B] - 1.0961
Despite euro’s brief sell-off to as low as 1.856 on Friday following the release of solid U.S. jobs report, subsequent rally to 1.0979 suggests further choppy trading above last week’s low at 1.0847 would continue with mild upside bias and above resistance area at 1.0988/96 would yield stronger retracement of decline from 1.1129 towards 1.1022 (61.8% r).
However, resistance at 1.1080/84 should remain intact and yield retreat later.
On the downside, only below 1.0907 would indicate aforesaid recovery has ended and risk would shift to the downside for further weakness towards 1.0873.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]11 Aug 2015[/B] [I]01:00 GMT[/I]
[B]EUR/USD - 1.1028[/B]
Despite euro’s brief sell-off to as low as 1.856 on Friday following the release of solid U.S. jobs report, subsequent rally to 1.1042 yesterday suggests up-move from week’s low at 1.0847 to retrace the decline from 1.1129 would head towards 1.1080/84 after initial consolidation.
However, near term loss of momentum would cap price below resistance at 1.1105/ 10 and yield retreat later.
On the downside, only below 1.0925 would indicate aforesaid recovery has ended and risk would shift to the downside for further weakness towards 1.0873.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]12 Aug 2015[/B] [I]01:12 GMT[/I]
[B]EUR/USD - 1.1041[/B]
Despite euro’s brief sell-off to as low as 1.856 on Friday following the release of solid U.S. jobs report, subsequent rally to 1.1088 yesterday suggests up-move from week’s low at 1.0847 to retrace the decline from 1.1129 would head towards 1.1110/15 after initial consolidation.
However, near term loss of momentum would cap price below aforesaid high and yield retreat later.
On the downside, only below 1.0925 would indicate aforesaid recovery has ended and risk would shift to the downside for further weakness towards 1.0873.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]13 Aug 2015[/B] [I]01:01 GMT[/I]
[B]EUR/USD - 1.1156[/B]
Despite euro’s brief sell-off to as low as 1.856 on Friday following the release of solid U.S. jobs report, subsequent rally to 1.1214 yesterday suggests up-move July’s trough at 1.0808 has once again resumed and consolidation with upside bias would be see for further gain towards 1.1279.
However, near term loss of momentum would prevent sharp gain beyond there and reckon resistance at 1.1292 would hold and yield retreat.
On the downside, only below 1.0925 would indicate aforesaid recovery has ended and risk would shift to the downside for further weakness towards 1.0873.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]14 Aug 2015[/B] [I]01:09 GMT[/I]
[B]EUR/USD - 1.1155[/B]
Despite euro’s sharp sell-off from Wednesday’s high at 1.1214 to 1.1080 yesterday, subsequent strong rebound suggests the pullback has possibly ended and consolidation with upside bias would be seen.
Above 1.1189 would add credence to this view and yield resumption of recent erratic uptrend from July’s trough at 1.0808 for a re-test of said high, break would extend towards 1.1250/60 early next week.
On the downside, only below 1.1080 would confirm a temporary top has been made and risk would shift to the downside for a stronger retracement towards 1.1031.