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AceTraderfx : DAILY TECHNICAL OUTLOOK ON Majors
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acetraderforex
post Oct 31 2014, 09:15 AM
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smile.gif AceTraderFx Oct 31: Daily Technical Outlook & Trading Ideals on GBP/USD


DAILY GBP/USD TECHNICAL OUTLOOK
Last Update At 31 Oct 2014 00:40GMT

Trend Daily Chart
Sideways

Daily Indicators
Bullish convergences

21 HR EMA
1.6006

55 HR EMA
1.6039

Trend Hourly Chart
Dow

Hourly Indicators
Bullish convergences

13 HR RSI
43

14 HR DMI
-ve

Daily Analysis
Consolidatin b4 one more fall

Resistance
1.6103 - Y'day's NY morning low
1.6089 - Tue's low
1.6038 - Y'day's high

Support
1.5950 - Y'day's low
1.5875 - Oct 15 low
1.5820 - 61.8% proj. of 1.7192-1.6052 fm 1.6525

. GBP/USD - 1.5993..Cable weakened to 1.5967 in Asia on Thur n then 1.5762 in Europe on Thur following Wed's FOMC selloff. Despite a minor bounce to .6009, price later briefly tumbled to session lows of 1.5950 after release of robust U.S. GDP but short-covering lifted price to 1.6038 b4 easing.

. Let's look at the bigger picture 1st, Wed's sharp sell off to 1.6003 n then 1.5950 Thur suggests the correction fm Oct's 11-month low at 1.5875 has ended earlier at 1.6186 last Tue n consolidation with downside bias remains for weakness to 1.5940/50 sup area (Oct 16 n y'day's low respectively), a daily close below there wud signal MT downtrend fm Jul's near 6-year peak at 1.7192 has once again resumed n yield re-test of Oct's 11-month low at 1.5875 next week. Looking ahead, below 1.5875 wud send cable lower to 1.5820, this is 50% proj. of the entire fall fm 1.7192-1.6052 measured fm 1.6525. Therefore, selling cable on recovery is the way to go n only abv 1.6088/89 (prev. sup, now res) wud dampen present bearish scenario on cable.

. Today, we're holding a short position in anticipation of marginal fall but 'bullish convergences' on hourly indicators wud keep cable abv 1.5900/10.
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acetraderforex
post Nov 3 2014, 09:00 AM
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smile.gif AceTraderFx Nov 3: Weekly Technical Outlook & Trading Ideals on USD/JPY


WEEKLY USD/JPY TECHNICAL OUTLOOK
Last Update At 02 Nov 2014 23:51GMT

Trend Daily Chart
Up

Daily Indicators
Bearish divergences

21 HR EMA
111.85

55 HR EMA
110.55

Trend Hourly Chart
Up

Hourly Indicators
O/bot

13 HR RSI
80

14 HR DMI
+ve

Daily Analysis
Resumption of uptrend

Resistance
113.54 - 50% proj. of 109.13-112.47 fm 111.89
113.16 - 2.618 times ext. of 106.25-108.37 fm 107.61
113.01 - Intra-day fresh high in NZ/AUS

Support

112.47 - Fri's high, now sup
111.89 - Reaction low fm 112.47
111.46 - Minor sup fm hourly chart

. USD/JPY - 112.87... The greenback maintained a steady tone initially last week as steady gains in the Nikkei boosted risk sentiment of yen selling. Dlr jumped on Fri when BoJ surprised the market with its aggressive stimulus measures, price jumped abv Oct's 110.09 high to a near 7-year peak of 112.47 in NY.

. Let's look at the bigger picture 1st, Fri's rally to 112.47 confirms the LT uptrend fm 2011 record low at 75.32 has once again resumed n price is en route to 114.92, this is 50% proj. of intermediate rise of 77.13-105.45 measured fm 100.76, however, as daily technical indicators have displayed 'bearish divergences' reckon 115.83, being 50% proj. of the entire said uptrend fm 75.32-105.45 measured fm 100.76, wud cap upside n yield correction later. Therefore, buying dlr on dips is recommended but profit shud be taken on subsequent rise. On the downside, below 110.09 (previous res, now sup) anytime wud signal temporary is in place n risk stronger retracement to 108.80/90.

. Today, dlr gapped higher to a fresh near 7-year peak of 113.01 in NZ/AUS , however, as hourly indicators' readings are in o/bot territory, reckon 113.54 wud cap upside. Look to buy on dips as sup at 11.89 shud hold fm here.
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acetraderforex
post Nov 4 2014, 09:30 AM
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smile.gif AceTraderFx Nov 4: Daily Technical Outlook & Trading Ideals on USD/CHF


DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 04 Nov 2014 01:10GMT

Trend Daily Chart
Up

Daily Indicators
Neutral

21 HR EMA
0.9648

55 HR EMA
0.9625

Trend Hourly Chart
Up

Hourly Indicators
Turning down

13 HR RSI
50

14 HR DMI
+ve

Daily Analysis
Consolidation b4 marginal rise

Resistance
0.9800 - Psychological lvl
0.9745 - 2.618 times ext. of 0.8698-0.9037 fm 0.8857
0.9692 - Y'day's fresh 1-year peak

Support
0.9612 - Fri's NY low
0.9581 - Fri's European low
0.9544 - Last Thur's NY low

. USD/CHF - 0.9645... Although the greenback opened higher in NZ on Mon due to dlr's broad-based strength n rose briefly to a fresh 1-year peak at 0.9692 at Asian open, price pared its gains n retreated to session low at 0.9635 in NY morning on poor U.S. mfg PMI b4 moving sideways in NY afternoon.

. Looking at the hourly n daily charts, y'day's breach of Oct's 1-year peak at 0.9690 signals the 3-legged upmove fm Mar's 2-1/2 year trough at 0.8698 has once again resumed n consolidation with upside bias wud be seen for gain twds 0.9722, being the 61.8% projection of 0.9104-0.9690 measured fm 0.9360.
Having said that, sharp move beyond there is unlikely to be seen due to loss of momentum n reckon res 0.9745/49 (2.618 times extension of 0.8698-0.9037 fm 0.8857 n equality of 0.9301-0.9690 measured fm 0.9360 respectively) shud remain intact n yield a much-needed correction later this week. On the downside, below sup 0.9581 (Fri's NY low) wud indicate a temp. top has been made n stronger retracement twds 0.9544 wud follow.

. Today, we are looking to trade fm both sides of the market n will buy dlr on dips to 0.9615 or wud sell if price climbs marginally to 0.9710 1st.
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acetraderforex
post Nov 5 2014, 09:51 AM
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smile.gif AceTraderFx Nov 5: Daily Technical Outlook & Trading Ideals on GBP/USD


DAILY GBP/USD TECHNICAL OUTLOOK
Last Update At 05 Nov 2014 03:06GMT

Trend Daily Chart
Sideways

Daily Indicators
Bullish convergences

21 HR EMA
1.5998

55 HR EMA
1.5999

Trend Hourly Chart
Sideways

Hourly Indicators
Neutral

13 HR RSI
54

14 HR DMI
+ve

Daily Analysis
Consolidation with downside bias

Resistance
1.6103 - Hourly sup (now res)
1.6055 - 50% r of 1.6183-1.5926
1.6038 - Last Thur's high

Support
1.5963 - Reaction low fm 1.6027 (Mon)
1.5926 - Mon's low
1.5875 - Oct 15 low

. GBP/USD - 1.6001...The British pound found renewed buying at 1.5965 at Asian open Tue n continued to trade with a firm undertone in Asia. Price gained to 1.6008 in early European morning b4 retreating to 1.5978. Later, cable rose to session high of 1.6016 at NY open b4 retreating on cross-selling vs euro.

. Looking at the daily picture, although price has staged a recovery after Mon's sharp retreat to 1.5926 n further choppy consolidation is envisaged for 1-2 days, as aforesaid move signals early correction fm 2014 trough at 1.5875 has indeed ended earlier at 1.6186 in Oct, reckon last Thur's high at 1.6038 wud cap upside n bring another fall twd said sup. Below ther wud signal the MT downtrend fm Jul's near 6-year peak at 1.7192 has possibly resumed n yield a re-test of 1.5875 later next week. On the upside, only abv 1.6055 (50% r of 1.6183-1.5926) wud indicate the pullback fm 1.6186 has ended instead n risk stronger gain twd 1.6103 (prev. sup, now res).

. Today, we are looking to sell cable on recovery to 1.6020 for weakness twd 1.5935 n only abv res 1.6038 wud prolong choppy trading n risk marginal gain but res at 1.6055 shud remain intact today n yield retreat.
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acetraderforex
post Nov 10 2014, 10:36 AM
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smile.gif AceTraderFx Nov 10: Weekly Technical Outlook & Trading Ideals on EUR/USD


WEEKLY EUR/USD TECHNICAL OUTLOOK
Last Update At 09 Nov 2014 23:57GMT

Trend Daily Chart
Down

Daily Indicators
Bullish convergences

21 HR EMA
1.2432

55 HR EMA
1.2441

Trend Hourly Chart
Sideways

Hourly Indicators
Rising

13 HR RSI
62

14 HR DMI
+ve

Daily Analysis
Initial rise b4 retreat

Resistance
1.2577 - Last Tue's high
1.2533 - Last Thur's high
1.2495 - Last Thur's European morning low

Support
1.2408 - Lst Fri's Euroepan morning high
1.2357 - Last Fri's 26-month low
1.2311 - 61.8% proj. of 1.3433-1.2500 fm 1.2888

. EUR/USD - 1.2460 ... The single currency continued its recent downtrend n hit a 2-year low at 1.2439 at the start of last week, despite staging a short-covering rebound to 1.2577 Tue, renewed selling emerged n knocked price to 1.2374 after ECB Draghi's dovish comments Thur, then 1.2357 on Fri b4 rebounding.

. Looking at bigger picture 1st, despite euro's resumption of the MT fall fm May's 2-1/2 year peak at 1.3995 to a fresh 2-year bottom at 1.2357,as aforesaid low was also accompanied by prominent bullish convergences on the hourly & daily oscillators n subsequent bounce to 1.2470 had pushed the hourly macd abv the zero line, suggesting consolidation with initial upside bias wud be seen. However, a daily close abv 1.2577 is needed to 'violate' recent series of lower highs n lower lows n yield stronger retracement twd next upside obj. at 1.2771 later this month. On the downside, below 1.2357 wud yield weakness to 1.2311 (61.8% proj. of 1.3433-1.2500 measured fm 1.2888) but 1.2146 shud hold fm here.

. Today, euro's gain to 1.2487 in NZ suggests 1-2 days of choppy sideways trading is in store, in view of abv analysis, one can trade the pair on both sides of the market as only below 1.2378 wud bring re-test of 1.2357.
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acetraderforex
post Nov 11 2014, 10:53 AM
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smile.gif AceTraderFx Nov 11: Daily Technical Outlook & Trading Ideals on USD/CHF


DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 11 Nov 2014 00:34GMT

Trend Daily Chart
Up

Daily Indicators
Bearish divergences

21 HR EMA
0.9668

55 HR EMA
0.967

Trend Hourly Chart
Sideways

Hourly Indicators
Rising

13 HR RSI
60

14 HR DMI
+ve

Daily Analysis
Consolidation with upside bias

Resistance
0.9772 - 61.8% proj. of 0.9024-0.9690 fm 0.9360
0.9742 - Last Fri's fresh 1-year peak
0.9705 - Last Fri's Euroepan morning low

Support
0.9617 - Y'day's low
0.960 - Last Thur's low
0.9580 - Last week's low (Tue)

. USD/CHF - 0.9680... Although the greenback opened lower to 0.9632 in NZ on Mon, price staged a recovery to 0.9659 at Asian open, renewed selling there knocked price to session low at 0.9617 in European morning. However, the pair rebounded strongly to 0.9684 in NY session due to broad-based strength in usd.

. Let's look at the hourly n daily charts, y'day's rebound fm 0.9617 suggests the pullback fm last Fri's fresh 1-year peak at 0.9742 has ended there n consolidation with initial upside bias remains, abv 0.9705/10 wud signal pull back is over n bring gain twd 0.9742, break there wud extend the 3-legged up move fm Mar's 2-1/2 year trough at 0.8698 twd projected target at 0.9772 (being 61.8% projection of 0.9024-0.9690 fm 0.9360). However, as hourly indicators wud display 'prominent' bearish divergences on such move, strg rise abv there is not envisaged n recon 0.9800/10 wud hold fm here n bring correction.

. Today, in view of abv analysis, we're standing aside initially n wud buy dlr on dips once 0.9705/10 res is penetrated. On the downside, we will sell dlr on recovery is price drops back below 0.9632 n such move wud indicate rebound is over, the weakness to 0.8580 wud follow, break 0.9455/60.
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acetraderforex
post Nov 13 2014, 10:55 AM
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smile.gif AceTraderFx Nov 13: Daily Technical Outlook & Trading Ideals on USD/JPY


DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 13 Nov 2014 00:29GMT

Trend Daily Chart
Up

Daily Indicators
Rising

21 HR EMA
115.47

55 HR EMA
115.33

Trend Hourly Chart
Sideways

Hourly Indicators
Neutral

13 HR RSI

51

14 HR DMI
-ve

Daily Analysis
Consolidation with upside bias

Resistance
117.09 - Equality proj. of 113.86-116.10 fm 114.85
116.42 - 61.8% proj. of 113.86-116.10 fm 114.85
116.10 - Tue's fresh 7-year high

Support
114.85 - Y'day's low
114.64 - Y'day's low
114.26 - Last Fri's low

. USD/JPY - 115.28 ...The greenback continued to take centre stage in Asia n swung wildly in Wed's session. Despite extending rebound fm Tue's 115.04 low to as high as 116.01 in Aust., price briefly dropped to 115.25 b4 bouncing back to 115.88 but only to ratchet lower to 114.85 in NY. Price later rose to 115.74.

. Looking at the hourly n daily charts, despite dlr's erratic fall fm Tue's fresh 7-year peak at 116.10 to 114.85 y'day, subsequent strg bounce in later NY trade suggests choppy consolidation with upside bias remains, however, abv 116.10 needed to extend the LT uptrend fm 2011 record low at 75.32 twd 116.42, this is 61.8% proj. of the near term rise 113.86-116.10 measured fm 115.04. Having said that, as hourly indicators' readings wud display prominent 'bearish divergences' on such move, upside shud falter well below 117.00 n risk has increased for a much-needed correction to occur. Failure to penetrate 115.88 (y'day's high in Tokyo) n a drop below 115.00/04 suggests choppy trading below 116.10 top wud continue, then stronger retracement to 114.64, n later 114.26 wud be seen.

. Today, in view of nr term upside risk, we have exited previous short position with a small loss n may sell dlr on recovery if price drops below 115.00.
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acetraderforex
post Nov 14 2014, 09:44 AM
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smile.gif AceTraderFx Nov 14: Daily Technical Outlook & Trading Ideals on EUR/USD


DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 14 Nov 2014 00:07GMT

Trend Daily Chart
Down

Daily Indicators
Bullish convergences

21 HR EMA
1.2468

55 HR EMA
1.2459

Trend Hourly Chart
Sideways

Hourly Indicators
Neutral

13 HR RSI
57

14 HR DMI
+ve

Daily Analysis
Consolidation with downside bias

Resistance
1.2560 - 38.2% r of 1.2888-1.2357
1.2533 - Last Thur's high
1.2509 - Mon's high

Support
1.2419 - Wed's low
1.2395 - Tue's low
1.2357 - Last Fri's 26-month low

. EUR/USD - 1.2474 ... Despite Wed's erratic decline to 1.2419, the single currency ratcheted higher on Thur n ratcheted higher back to 1.2490 in NY morning due to renewed cross buying in euro (eur/jpy rallied fm 143.57 to as high as 144.60). Price rose marginally to 1.2492 ahead of New York close b4 easing.

. Looking at the hourly & daily charts, the volatile price action fm last
Fri's 26-month trough at 1.2357 is possibly unfolding into a triangle with a-leg: 1.2509, b-leg: 1.2395, c-leg:1.2499, d-leg:1.2419. Therefore, as long as res at 1.2499 (reaction high on Mon/a-leg top) holds, consolidation with downside bias remains but below 1.2395 sup (b-leg trough) is needed to confirm correction is over n yield resumption of MT downtrend fm May's 2-1/2 year peak at 1.3995 for re-test of 1.2357, then later twd 1.2311 (this is 61.8% projection of 1.3433-1.2500 measured fm 1.2888) next week. On the upside, a daily close abv 1.2509 res wud bring stronger retracement to 1.2533 (last Thur's high) n then 1.2560 (38.2% r of 1.2888-1.2537) but reckon res 1.2577 may hold initially.

. Today, we're holding a short position entered y'day at 1.2485 for subsequent weakness to 1.2510 n only abv 1.2509 res wud abort bearish bias on euro.
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acetraderforex
post Nov 18 2014, 10:58 AM
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smile.gif AceTraderFx Nov 18: Daily Technical Outlook & Trading Ideals on USD/CHF


DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 18 Nov 2014 00:15GMT

Trend Daily Chart
Up

Daily Indicators
Bearish divergences

21 HR EMA
0.9633

55 HR EMA
0.9629

Trend Hourly Chart
Near term up

Hourly Indicators
Rising

13 HR RSI
62

14 HR DMI
+ve

Daily Analysis
Consolidation with upside bias

Resistance
0.9742 - Nov's fresh 1-year peak
0.9700 - Last Tue's high
0.9689 - Last Fri's high

Support
0.9574 - Last Fri's low
0.9553 - Y'day's low
0.9511 - Oct 28 high (now sup)

. USD/CHF - 0.9646... Despite a brief recovery to 0.9601 in Australia on Mon, intra-day sell off in dlr/yen led to broad-based usd's weakness n pressured price to 0.9553 in Asian morning. However, dlr quickly pared its losses n rose to 0.9624 in Europe n then to session high of 0.9652 in NY morning.

. Looking at the hourly n daily charts, despite y'day's retreat to 0.9553, subsequent strg rebound suggests the 1st leg of correction fm Nov's fresh 1-year peak at 0.9742 has ended there n consolidation with upside bias wud be seen. Abv res 0.9689 (last Fri's high) wud add credence to this view n extend gain to 0.9700 (last Tue's top), however, aforesaid peak may hold initially n yield more choppy consolidation. On the downside, only below 0.9553 wud indicate the corrective decline fm 0.9742 has resumed instead n turn outlook bearish for further weakness twds 0.9511 (prev. res, now sup).

. Today, in view of near term bullish bias, we are buying dlr on dips for gain to 0.9700 n only below 0.9574 (Fri's low) wud indicate recovery fm y'day's low at 0.9553 has ended n risk re-test of this lvl later.
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acetraderforex
post Nov 21 2014, 11:18 AM
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smile.gif AceTraderFx Nov 21: Daily Technical Outlook & Trading Ideals on EUR/USD


DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 21 Nov 2014 00:18GMT

Trend Daily Chart
Down

Daily Indicators
Bullish convergences

21 HR EMA
1.2541

55 HR EMA
1.2533

Trend Hourly Chart
Sideways

Hourly Indicators
Neutral

13 HR RSI
55

14 HR DMI
+ve

Daily Analysis
Chopy sideways trading to continue

Resistance
1.2685 - 61.8% r fm 1.2788-1.2357
1.2602 - Wed's NY high
1.2575 - Y'day's high

Support
1.2505 - Y'day's low
1.2480 - 50% r of 1.2357-1.2602
1.2444 - Tue's low

. EUR/USD - 1.2547... The single currency continued to whip around in intra-day trade on Thur. Despite staging a brief bounce fm 1.2524 to 1.2575, euro briefly dived to 1.2505 after release of downbeat German & EZ PMIs, however, the pair rebounded again to 1.2769 in New York morning b4 moving sideways.

. Looking at the hourly chart n daily charts, despite Wed's brief breach of Mon's high of 1.2578 to 1.2602, subsequent retreat to 1.2505 suggests the early 3-legged corrective upmove fm Nov's 26-month trough at 1.2357 has 'possibly' formed a temporary top there n few days of choppy consolidation is in store, how ever, below 1.2501/05 sup (Tue's NY low n y'day's low respectively) is needed to confirm n yield stronger pullback to 1.2444/51 (being Tue's low n 61.8% r of 1.2357-1.2602). Looking ahead, only breach of pivotal sup at 1.2399 wud indicate MT decline fm May's 2-1/2 year peak at 1.3995 has once again resumed n bring retest of 1.2357 low next week. Abv 1.2602 wud send euro to 1.2622 n later 1.2685, being 50% n 61.8% r respectively of intermediate fall fm 1.2888-1.2357.

. Today, we are standing ahead initially n may give a buy recommendation if price holds abv 1.2505 for a move to 1.2622.
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acetraderforex
post Nov 28 2014, 10:04 AM
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smile.gif AceTraderFx Nov 28: Daily Technical Outlook & Trading Ideals on EUR/USD


DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 28 Nov 2014 00:14GMT

Trend Daily Chart
Down

Daily Indicators
Bullish convergences

21 HR EMA
1.2475

55 HR EMA
1.2477

Trend Hourly Chart
Sideways

Hourly Indicators
Falling

13 HR RSI
33

14 HR DMI
-ve

Daily Analysis
Consolidation with downside bias

Resistance
1.2575 - Last Fri's high
1.2532 - Wed's high
1.2499 - Y'day's N. American high

Support
1.2444 - Wed's low
1.2402 - Tue's low
1.2357 - Nov 07 26-month low

. EUR/USD - 1.2456 ... Despite euro's brief bounce to 1.2524 in European morning on Thur, offers below Wed's 1.2532 checked intra-day gain n traders sold euro broadly after weak Spanish inflation data. Euro later ratcheted higher back to 1.2499 in quiet N. American session on short covering b4 coming off.

. Looking at the hourly n daily charts, although Wed's brief rally to 1.2532 suggests the decline fm last Wed's high at 1.2602 has indeed formed a low at 1.2360 on Mon n further 'choppy' consolidation abv Nov's 26-month trough at 1.2357 wud continue, y'day's retreat suggests downside bias remains, below 1.2444 sup wud bring subsequent decline twd 1.2402, a daily close below this pivotal sup is needed to confirm the recovery is over n yield resumption of MT downtrend for re-test 1.2357/60, then 1.2311 next week. On the upside, only abv 1.2532 wud extend aforesaid rise twd 1.2568/75 res area, however, as broad outlook remains 'consolidative', daily res at 1.2602 shud cap upside n yield decline later.

. Today, euro's intra-day break of y'day's 1.2466 low suggests the single currency shud remain under pressure n decline to our daily downside target at 1.2415 (our daily position is holding short at 1.2490).
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acetraderforex
post Dec 2 2014, 10:33 AM
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smile.gif AceTraderFx Dec 2:Daily Technical Outlook & Trading Ideals on USD/JPY


DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 01 Dec 2014 23:27GMT

Trend Daily Chart
Up

Daily Indicators
Rising

21 HR EMA
118.38

55 HR EMA
118.33

Trend Hourly Chart
Sideways

Hourly Indicators
Falling

13 HR RSI
46

14 HR DMI
-ve

Daily Analysis
Consolidatoin with downside bias

Resistance
119.15 - Y'day's fresh 7-year peak
118.98 - Prev. high on Nov 20
118.53 - Hourly chart

Support
117.87 - Y'day's low
117.24 - Last Thur's low
116.51 - 50% of the intermediate rise of 113.86-119.15

. USD/JPY - 118.30... Although dlr briefly jumped to a fresh 7-year peak at 119.15 in early Europe after Moody's downgraded Japan's rating to A1, price swiftly nose-dived to 118.09 on long-liquidation. Later, dlr fell to 117.87 in NY morning b4 recovering after upbeat ISM U.S. manf. PMI, d;r climbed to 118.41.

. Looking at the hourly n daily charts, y'day's aforesaid sharp decline after a brief breach of Nov's peak at 118.98 to 119.15 suggests LT up move fm record low at 75.32 (Oct 2011) has made a temporary top n a few days of choppy trading below this res wud be seen, a breach of 117.68/74 (hourly chart n 38.2% r of intermediate rise of 115.46-119.15) wud add credence to this view n yield stronger retracement twd 117.24/31, being last Thur's low n the 'natural' 50.0% of aforesaid upmove, however, reckon 116.51, being 50% r of intermediate rise of 113.86-119.15, wud hold n bring rebound later this week.

. Today, as long as 119.15 top holds, selling dlr on recovery in anticipation of another corrective fall twd 117.50 is favoured. Only a firm rise abv 119.15 wud revive early bullishness n extend gain to 119.35/40 n then later twd 119.80, this is 50% proj. of 113.86-118.98 measured fm 117.24.
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acetraderforex
post Dec 4 2014, 10:43 AM
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smile.gif AceTraderFx Dec 4:Daily Technical Outlook & Trading Ideals on GBP/USD



DAILY GBP/USD TECHNICAL OUTLOOK
Last Update At 04 Dec 2014 00:17GMT

Trend Daily Chart
Sideways

Daily Indicators
Turning up

21 HR EMA
1.5679

55 HR EMA
1.5678

Trend Hourly Chart

Sideways

Hourly Indicators
Neutral

13 HR RSI
57

14 HR DMI
+ve

Daily Analysis
Choppy consolidation to continue

Resistance
1.5826 - Last Thur's high
1.5763 - Mon's high
1.5719 - Y'day's high

Support
1.5619 - Y'day's low
1.5585 - Mon's fresh 14-1/2 month low
1.5528 - 50% proj. of 1.6186-1.5590 fm 1.5826

. GBP/USD - 1.5690... Cable swung wildly on Wed, despite a euro-led brief drop fm 1.5656 to 1.5619 in Europe, cross-buying in sterling lifted price n cable rebounded on short covering after upbeat U.K. services PMI n the upgrade of U.K. growth forecasts fm OBR. Price rose to 1.5719 in NY b4 retreating.

. Looking at the hourly n daily charts, despite cable's strg decline after Mon's rally fm a fresh 14-1/2 month trough at 1.5585 to 1.5763, y'day's rebound fm 1.5619 suggests further choppy trading abv said temporary bottom wud continue . Although consolidation with near term upside bias is seen, as long as 1.5763 res (reaction high) holds, prospect of another fall later today or tom still remains. Looking ahead, a breach of 1.5619 wud signal MT downtrend fm Jul's near 6-year peak at 1.7192 has resumed n bring re-test of 1.5585, break wud extend subsequent weakness to 1.5528, this is the 50% projection of intermediate fall fm 1.6186-1.5590 measured fm 1.5826.

. On the upside, abv 1.5763 wud confirm a temporary low is made instead n stronger retracement to 1.5826 wud follow. We are standing aside initially today n investors shud pay attention to the release of BoE rate decision at 12:00GMT.
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acetraderforex
post Dec 5 2014, 11:02 AM
Post #154
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smile.gif AceTraderFx Dec 5:Daily Technical Outlook & Trading Ideals on EUR/USD


DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 05 Dec 2014 00:14GMT

Trend Daily Chart
1.2364

Daily Indicators
Bullish convergences

21 HR EMA
Down

55 HR EMA
1.2364

Trend Hourly Chart
58

Hourly Indicators
Rising

13 HR RSI
Sideways

14 HR DMI
+ve

Daily Analysis
Choppy consoldiation iwth a neutral bias

Resistance
1.2532 - Last Wed's high
1.2507 - Mon's high
1.2457 - Y'day's high

Support
1.2340 - Hourly chart
1.2280 - Y'day fresh 27-month low
1.2242 - 2012 Aug 10 low

. EUR/USD - 1.23845... Euro rallied sharply against the usd on Thur as ECB refrained fm adding stimulus measures. Although price briefly fell to a fresh 27-month low at 1.2280 at the start of ECB's press conference, euro jumped to 1.2414 n then rose to 1.2457 on short-covering b4 retreating to 1.2360.

. Looking at the hourly n daily charts, y'day's rally fm a fresh 27-month trough to as high as 1.2457 in choppy NY session suggests MT downtrend fm May's 2-1/2 year peak at 1.3995 has formed a temporary low there n despite subsequent retreat, as long as 1.2325 (Thur's European morning high, now sup) holds, consolidation with upside bias remains, a daily close abv 1.2457 wud add credence to this view, then euro bring another leg of correction twd 1.2525/32(50% r of 1.2771-1.2280 n Nov 26 high respectively), however, as hourly technical indicators' readings wud be in o/bot territory on such move, a strg retreat is likely to take place next week.

. Today, in view of abv analysis, we're trading euro on both sides of the market initially as choppy sideways move is expected ahead of the key monthly U.S. jobs data. Only below 1.2280 wud risk one more fall to 1.2245/55.
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acetraderforex
post Dec 9 2014, 10:12 AM
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smile.gif AceTraderFx Dec 9: Daily Technical Outlook & Trading Ideals on USD/CHF



DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 09 Dec 2014 00:18GMT

Trend Daily Chart
Up

Daily Indicators
Bearish divergences

21 HR EMA
0.9774

55 HR EMA
0.9767

Trend Hourly Chart
Sideways

Hourly Indicators
Rising fm o/s

13 HR RSI
46

14 HR DMI
-ve

Daily Analysis
Resumption of MT downtrend

Resistance
0.9875 - 61.8% proj. of 0.8857-0.8690 fm 0.9360
0.9843 - 1.236 times extn. of 0.9530-0.9731 fm 0.9695
0.9818 - Y'day's high

Support
0.9738 - Last Fri's Euroepean high
0.9703 - Last Fri's low
0.9650 - Last Thur's low

. USD/CHF - 0.9767... Despite a brief retreat to 0.9774 in Asian morning y'day, renewed buying emerged n pushed price higher to a fresh 1-1/2 year peak of 0.9818 in European morning on renewed euro's weakness. However, price pared retreated sharply to 0.9738 in NY session due to broad-based usd's decline.

. Despite dlr's resumption of the 3-legged uptrend fm Mar's 2-1/2 year trough at 0.8698 to 0.9818, subsequent retreat to 0.9738 suggests a minor top is possibly in place n below 0.9703 wud add credence to this view, then several days of choppy consolidation with downside bias wud be seen n bring a long-overdue minor correction to 0.9650, however, reckon 0.9595 sup wud remain intact n yield subsequent rebound. On the upside, abv 0.9818 wud yield marginal gain twd 0.9875, this is 61.8% proj. of the MT intermediate rise fm 0.8857-0.8690 measured fm 0.9360. Having said that, as hourly & daily indicators' readings wud display 'bearish divergences' on such move, 'psychological res at 1.0000 shud remain intact this week n bring a strg correction.

. Today, in view of broad consolidation outlook, we're trading dlr on both sides of the market n wud sell on recovery or buy on next intra-day decline.


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acetraderforex
post Dec 16 2014, 10:39 AM
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smile.gif AceTraderFx Dec 16: Daily Technical Outlook & Trading Ideals on USD/JPY


DAILY USD/JPY TECHNICAL OUTLOOK
Last Update At 16 Dec 2014 00:08GMT

Trend Daily Chart
Sideways

Daily Indicators
Bearish divergences

21 HR EMA
118.15

55 HR EMA
118.44

Trend Hourly Chart
Sideways

Hourly Indicators
Falling

13 HR RSI
43

14 HR DMI
-ve

Daily Analysis
Choppy consolidation to continue

Resistance
119.56 - Last Thur's high
119.06 - Mon's high
118.98 - Mon's NY high

Support
117.45 - Last Thur's low
117.06 - Nov 17 high, now sup
116.41 - 38.2% r of 107.61-121.85

. USD/JPY - 117.94... Dlr swung wildly on Mon following Japan's national election on Sun. Despite falling fm NZ's high of 119.04 to 117.78 ahead of Tokyo open, dlr swiftly rallied to 119.06 in Asia. Dlr later chopped inside 117.78-119.06 range in Europe b4 falling to a fresh intra-day low at 117.57 in NY.

. Looking at the hourly n daily charts, y'day's decline to 117.57 signals recovery fm last Thur's low at 117.45 has indeed ended the same day at 119.56 n re-test of this sup wud be seen, a firm break there wud confirm LT uptrend fm 2011 record low at 75.32 has formed a temporary top at 121.85 (7-year peak on Dec 7), then the pair will be en route to 116.41, being a 'minimum' 38.2% r of the MT intermediate rise fm 107.61-121.85, however, reckon 114.73 (50% r) wud contain weakness this month n yield subsequent rebound.

. In view of abv analysis, despite recent volatile swing inside established range of 117.45-119.56, selling dlr on intra-day recovery for re-test of 117.45 is favoured n later resumption of aforesaid fall twd 117.06 (Nov 17 high) is recommended, however, price shud hold well abv 116.41 today. On the upside, only abv 119.00 wud prolong choppy trading but 119.56 res shud remain intact.
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acetraderforex
post Dec 23 2014, 11:02 AM
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smile.gif AceTraderFx Dec 23: Daily Technical Outlook & Trading Ideals on EUR/USD


DAILY EUR/USD TECHNICAL OUTLOOK
Last Update At 22 Dec 2014 23:49GMT

Trend Daily Chart
Sideways

Daily Indicators
Bullish convergences

21 HR EMA
1.2242

55 HR EMA
1.2286

Trend Hourly Chart
Down

Hourly Indicators
Bullish convergences

13 HR RSI
45

14 HR DMI
-ve

Daily Analysis
Consolidation b4 MT decline resumes

Resistance
1.2347 - 50% r of 1.2474-1.2220
1.2302 - Last Fri's high
1.2272 - Y'day's high

Support
1.2216 - 61.8% proj. of 1.2474-1.2277 fm 1.2358
1.2174 - 61.8% proj. of 1.2888-1.2247 fm 1.2570
1.2146 - 61.8% proj. of 1.3700-1.2500 fm 1.2888

. EUR/USD - 1.2223... Euro gained a respite on Mon after failure to breach last Fri's fresh 27-mth trough at 1.2220. Price ratcheted higher fm NZ's low at 1.2220 in Asia n then climbed to 1.2272 in European morning. Later, euro briefly fell to 1.2250 in NY morning n fell to a session low at 1.2217 near NY close.

. Looking at the daily chart, as previously mentioned, euro's resumption of MT downtrend fm 2014 high at 1.3995 (May) to 1.2220 last Fri suggests initial downside bias remains for further weakness to 1.2146, this is 61.8% proj. of intermediate downtrend fm 1.3700 to 1.2500 measured fm 1.2888. Having said that, as daily technical indicators' readings wud display prominent bullish convergences on such a move, reckon 'psychological' sup at 1.2000 wud remain intact this month n early Jan 2015 n risk has increased for a much-needed correction to take place later. On the upside, only a daily close abv 1.2386 (prev. hourly sup, now res) wud signal a low is in place, then risk a correction twd 1.2570.

. Today, as long as 1.2272 res holds, downside bias remains for MT down-trend to extend to 1.2200 n 1.2174 (61.8% proj. of 1.2888-1.2247 fm 1.2570) but loss of momentum wud limit fall to 1.2146.
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acetraderforex
post Jan 6 2015, 11:12 AM
Post #158
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smile.gif AceTraderFx Jan 6: Daily Technical Outlook & Trading Ideals on GBP/USD


DAILY GBP/USD TECHNICAL OUTLOOK
Last Update At 06 Jan 2015 00:40GMT

Trend Daily Chart
Down

Daily Indicators
Bullish convergences

21 HR EMA
1.5267

55 HR EMA
1.5345

Trend Hourly Chart
Down

Hourly Indicators
Turning up

13 HR RSI
45

14 HR DMI
-ve

Daily Analysis
Consolidation b4 one more fall

Resistance
1.5386 - Hourly sup (now res)
1.5352 - 38.2% r of 1.5621-1.5185
1.5320 - Y'day Asian high

Support
1.5203 - Y'day's NY morning sup
1.5185 - Y'day's fresh 16-month low (Reuters)
1.5137 - 1.618 times extn of 1.5785-1.5486 fm 1.5621

. GBP/USD - 1.5263... Cable tracked euro's intra-day move closely on Mon. Despite falling sharply below Fri's low of 1.5326 to a fresh 16-month trough at 1.5185 (Reuters) in thin Aust., short-covering lifted pound to 1.5320 in Asia b4 dropping to 1.5203 in NY morning. Cable later recovered to 1.5270 near NY close.

. Looking at the bigger picture, as mentioned previously, cable's break of Dec's 1.5486 to on 1.5326 Fri signals MT downtrend fm 2014 peak at 1.7192 (Jul) has once again resumed n a re-test of said Mon's low wud be seen after consolidation, break wud extend weakness to 1.5137 (1.618 times extension of 1.5785-1.5486 measured fm 1.5621) n then 1.5100. Having said that, as the daily technical indicators wud display 'bullish convergences' on such move, reckon psychological sup at 1.5000 wud hold on 1st testing this week n risk a minor correction later. On the upside, only a daily close abv 1.5486 wud signal a temporary low is made, then retracement to 1.5555 n possibly twd 1.5621 is likely b4 down.

. Today, as 1.5320 has capped rebound fm 1.5185, selling cable on intra-day recovery is recommended. On the upside, only abv 1.5352 (38.2% r of 1.5621-1.5185) risks retracement twd 1.5403 (50% r) but 1.5454 (61.% r) shud hold.
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acetraderforex
post Mar 31 2015, 10:46 AM
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smile.gif AceTraderFx Mar 31: Daily Technical Outlook & Trading Ideals USD/CHF


DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 31 Mar 2015 00:18GMT

Trend Daily Chart
Sideways

Daily Indicators
Turning down

21 HR EMA
0.9666

55 HR EMA
0.9643

Trend Hourly Chart
Near term up

Hourly Indicators
Rising

13 HR RSI
58

14 HR DMI
+ve

Daily Analysis
Choppy consolidation to continue

Resistance
0.9796 - Last Mon's Asian high
0.9729 - Mar 20 low (now res)
0.9693 - Last Fri's high

Support
0.9605 - Y'day's low
0.9558 - Last Fri's low
0.9536 - Last Tue's low

. USD/CHF - ...... Although the greenback traded sideways in Asia n briefly edged lower to 0.9605 in European morning, price swiftly rose to 0.9674 b4 retreating. However, dlr found renewed buying at 0.9620 in NY morning n gained to session high at 0.9689, helped by upbeat U.S. pending home sales data.

. Looking at the hourly n daily charts, dollar's strg rebound fm last wk's low at 0.9491 (Thur) to 0.9693 last Fri suggests the early 3-legged decline fm Mar's 2-month peak at 1.0129 has made a temporary low there n choppy trading with upside bias is seen. Abv 0.9693 wud extend gain twd 0.9729 (prev. sup, now res), then twds 0.9738, being the 50% r of fall fm 0.9984-0.9491, however, strg rise abv there is unlikely to be seen this week n reckon res 0.9796 wud remain intact n yield retreat later. On the downside, only below 0.9491 wud revive bearishness for a stronger retrace. of upmove fm Jan's 40-month trough at 0.7360 twds to 0.9448/50 (26 Feb low n 38.2% r of 0.8352 to 1.0129 resp.).

. Today, as current price is trading abv 21-hr n 55-hr emas, suggesting consolidation with upside bias remains, however, as hourly oscillators wud display bearish divergences on next rise, reckon 0.9729 wud hold on 1st testing.
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