AceTraderForex Apr 22: Daily Market Outllook on Major -EUR/USD

AceTraderFx May 10: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 10 May 2022 03:00GMT

EUR/USD - 1.0562
Although euro’s retreat from last Thursday’s 8-day high of 1.0641 suggests recovery from April’s fresh 5-year bottom at 1.0472 has possibly ended, Friday’s rebound from 1.0483 to 1.0600 in New York and yesterday’s fall to 1.0496 at European open suggest further volatile swings above said support would continue before prospect of another fall, below 1.0483 would head towards 1.0472, then 1.0405/10.

On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.

Data to be released on Tuesday:
New Zealand retail sales, NAB business conditions, NAB business confidence.
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.

AceTraderFx May 11: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 11 May 2022 03:00GMT

EUR/USD - 1.0532
Although euro’s retreat from last Thursday’s 8-day high of 1.0641 suggests recovery from April’s fresh 5-year bottom at 1.0472 has possibly ended, subsequent daily volatile swings and yesterday’s retreat from 1.0585 in Europe signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.

On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.

Data to be released on Wednesday:
Australia Westpac consumer sentiment, China PPI, CPI, Japan coincident index, leading indicato,
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.

AceTraderFx May 12: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 12 May 2022 03:00GMT

EUR/USD - 1.0523
Although euro’s retreat from last Thursday’s 8-day high of 1.0641 suggests recovery from April’s fresh 5-year bottom at 1.0472 has possibly ended and despite yesterday’s wild swings in post-US CPI, subsequent retreat from 1.0576 on broad-based rebound in usd signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.

On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.

Data to be released on Thursday:
New Zealand food price index, inflation forecast, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, Australia consumer inflation, Swiss producer/import price.
U.K. RICS housing price balance, GDP, trade balance, construction output, manufacturing output, industrial output, NIESR GDP estimate.
U.S. initial jobless claims, continuing jobless claims and PPI.

AceTraderFx May 13: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 13 May 2022 03:00GMT

EUR/USD - 1.0379
Euro’s selloff below Apr’s 1.0472 low to a fresh 5-year bottom at 1.0355 in New York yesterday on broad-based usd’s strength due to risk-off trading suggests re-test of 2017 trough at 1.0341 would be seen, break would extend further weakness towards 1.0210 later next week.

On the upside, only a daily close above 1.0472 would indicate a temporary low is in place and risk stronger retracement to 1.0500/05.

Data to be released on Friday:
New Zealand manufacturing PMI.
France CPI, EU industrial production.
U.S. import prices, export prices and University of Michigan sentiment.

AceTraderFx May 16: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 16 May 2022 03:00GMT

EUR/USD - 1.0402
Although euro’s selloff below 1.0472 (Apr) to 1.0355 last Thursday and then break there to a fresh 5-year bottom at 1.0350 in New York Friday on continued usd’s strength signals recent decline would extend marginally, subsequent rebound suggests consolidation is in store and below said support would yield re-test of 2017 trough at 1.0341, break, 1.0309 later.

On the upside, only a daily close above 1.0443 would indicate a temporary low is in place and risk stronger retracement towards 1.0472 before down.

Data to be released later:
New Zealand business NZ PSI, China industrial order, retail sales, Japan machine tool orders.
Germany wholesales price index, EU trade balance.
Canada housing starts, manufacturing sales, wholesale trade, U.S. manufacturing on Monday.

AceTraderFx May 17: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 17 May 2022 03:00GMT

EUR/USD - 1.0444
Euro’s strong rebound from last Friday’s fresh 5-year bottom at 1.0350 to as high as 1.0442 in New York Monday on broad-based retreat in usd in tandem with U.S. yields suggests recent erratic decline has made a temp. low there and as long as 1.0390/91 holds, stronger retracement towards 1.0472 may be seen but reckon 1.0503 should cap upside and yield decline.

On the downside, only a daily close below 1.0390 would indicate aforesaid recovery over and heads towards 2017 1.0341 trough later this week.

Data to be released on Tuesday:
Japan tertiary industry activity.
France ILO unemployment rate, U,K. Claimant count, ILO unemployment rate, employment change, average weekly earnings, Italy trade balance, CPI, EU employment, GDP.
U.S. retail sales, redbook, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index and New Zealand GDT price index.

AceTraderFx May 18: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 18 May 2022 03:00GMT

EUR/USD - 1.0557
Euro’s rally above 1.0472 (Apr) to as high as 1.0555 in New York Tue on ECB Knot’s hawkish comments and intra-day break there on continued broad-based retreat in usd suggests corrective upmove from last Fri’s fresh 5-year bottom at 1.0350 would head towards 1.0585, however, loss of momentum would cap price at 1.0600/10 and yield retreat later this week.

On the downside, only a daily close below 1.0472 would signal a temporary top made and risk weakness towards 1.0442, break, 1.0419/20.

Data to be released on Wednesday:
New Zealand PPI, Japan GDP, industrial production, capacity utilization, Australia Westpac leading index, wage price index, China house price.
U.K. CPI, RPI, PPI input prices, PPI output prices, PPI core output prices, DCLG house price, EU HICP.
U.S. MBA mortgage application, building permits, housing starts and Canada CPI.

AceTraderFx May 19: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 19 May 2022 03:00GMT

EUR/USD - 1.0479
Euro’s selloff from 1.0563 to 1.0461 in New York yesterday on renewed safe-haven usd’s buying due to fall in U.S. yields and U.S. stocks suggests recent corrective upmove from last Friday’s fresh 5-year bottom at 1.0350 has ended there and below 1.0438/42 would yield further weakness to 1.0390/00 later.

On the upside, only a daily close above 1.0495/00 may risk stronger recovery to 1.0530/40.

Data to be released on Thursday:
Japan machinery orders, exports, imports, trade balance, Australia employment change, unemployment rate.
EU current account, construction orders.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, existing home sales, leading index, Canada new housing price index and producer prices.

AceTraderFx May 20: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 20 May 2022 03:00GMT

EUR/USD - 1.0578
Although euro’s rally above 1.0563 (Wednesday) to 1.0608 in New York yesterday on broad-based weakness in usd due to fall in U.S. yields suggests recent corrective upmove from last Friday’s 5-year bottom at 1.0350 would extend marginally and gain towards 1.0625 may be seen, reckon 1.0641 would remain intact and yield retreat due to loss of momentum.

On the downside, a daily close below 1.0541 would signal top is possibly made and further weakness to 1.0507/10 is seen Mon.

Data to be released on Friday:
New Zealand imports, trade balance, exports, Japan nationwide CPI.
U.K. Gfk consumer confidence, PSNB, retail sales, Germany producer prices and Swiss industrial production.

AceTraderFx May 23: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 23 May 2022 03:00GMT

EUR/USD - 1.0579
Euro’s retreat from 1.0598 to 1.0534 in New York on Fri suggests corrective upmove from May’s fresh 5-year bottom at 1.0350 has made a temporary top at Thur’s near 2-week peak at 1.0608 and minor consolidation is seen, a daily close below 1.0534 would yield weakness towards 1.0507, then 1.0461/66.

On the downside, only above 1.0598 would bring re-test of 1.0608 but loss of momentum should cap euro below 1.0641 and yield retreat later.

Data to be released later :
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index and Canada Market Holiday on Monday.

AceTraderFx May 24: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 24 May 2022 03:00GMT

EUR/USD - 1.0678
Euro’s rally above last week’s high at 1.3608 (Thursday) to as high as 1.3697 in New York Monday on hawkish comments from ECB’s Lagarde suggests corrective upmove from May’s 5-year bottom at 1.0350 would extend towards 1.0738 but reckon 1.0762/67 should cap upside and yield retreat today.

On the downside, only a daily close below 1.0641 would signal a temporary top is made and risk weakness towards 1.0608, break, 1.0563.

Data to be released on Tuesday:
New Zealand retail sales, Australia S&P Global manufacturing PMI, S&P Global services PMI.
U.K. Rightmove house price, PSNB, PSNCR, S&P Global manufacturing PMI, S&P Global services PMI, CBI distributive trade, France business climate, S&P Global manufacturing PMI, S&P Global services PMI, Germany S&P Global manufacturing PMI, S&P Global services PMI, EU S&P Global manufacturing PMI, S&P Global services PMI.
U.S. building permits, redbook, S&P Global manufacturing PMI, S&P Global services PMI , new home sales and Richmond Fed manufacturing.

AceTraderFx May 25: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 25 May 2022 03:00GMT

EUR/USD - 1.0728
Although euro’s rally above 1.0697 (Mon) to a 1-month peak at 1.0748 in New York after hawkish comments from ECB’s Lagarde suggests upmove from May’s 5-year bottom at 1.0350 would extend marginally, reckon 1.0770/75 would remain intact and yield prospect of another fall due to loss of momentum.

On the downside, daily close below 1.0697 would indicate a temporary top is in place and yield weakness towards 1.0662, break, 1.0608/10 later.

Data to be released on Wednesday:
Australia construction work done, New Zealand RBNZ interest rate decision, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer confidence, France consumer confidence, Swiss investor sentiment, U.S. mortgage application, durable goods, durables ex-transport and durables ex-defense.

AceTraderFx May 26: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 26 May 2022 03:00GMT

EUR/USD - 1.0700
Euro’s strong retreat from Tue’s 1-month peak at 1.0748 to as low as 1.0643 at New York open yesterday on rebound in usd suggests upmove from May’s 5-year bottom at 1.0350 has made a temporary top there and weakness to 1.0620/25 is envisaged after consolidation, break would extend towards 1.0588 later next week.

On the upside, only a daily close above 1.0723 would risk stronger gain towards 1.0748, break, 1.0771.

Data to be released on Thursday:
Australia capital expenditure, building carpex.
Germany Market Holiday, France Market Holiday, Swiss Market Holiday, Italy business confidence, consumer confidence, industrial sales.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing, Canada retail sales and average weekly earnings.

AceTraderFx May 27: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 27 May 2022 03:00GMT

EUR/USD - 1.0737
Euro’s strong rebound from 1.0663 to 1.0731 in New York on broad-based usd’s weakness due to rally in U.S. stocks suggests pullback form Tue’s 1-month 1.0748 peak has possibly ended and above would extend upmove from May’s 5-year bottom at 1.0350 to 1.0780/90, however, loss of momentum should cap price below 1.0807 and yield decline later.

On the downside, only a daily close below 1.0690/95 would indicate a temporary top possibly made and yield weakness towards 1.0663, then 1.0643 Mon.

Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales, Italy trade balance.
U.S. personal income, personal spending, PCE price index, goods trade balance, wholesale inventories, University of Michigan sentiment and Canada budget balance.

AceTraderFx May 30: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 30 May 2022 03:00GMT

EUR/USD - 1.0734
Although euro’s retreat from Fri’s 1-month peak at 1.0764 signals corrective upmove from May’s 5-year bottom at 1.0350 has ended, subsequent strong bounce to 1.0750 in New York on risk sentiment suggests choppy swings would be seen and above 1.0764 would extend to 1.0787/92 before decline due to loss of momentum.

On the downside, a daily close below 1.0698 would revive bearishness for weakness towards 1.0643, break, 1.0608 later.

Data to be released later today :
Germany import prices, Swiss non-farm payrolls, KOF indicator, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada current account.
U.S. Market Holiday on Monday.

AceTraderFx May 31: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2022 03:00GMT

EUR/USD - 1.0747
Euro’s intra-day strong retreat in Asia on broad-based rebound in usd suggests recent corrective upmove from May’s 5-year bottom at 1.0350 has possibly made a temporary top at yesterday’s fresh 1-month peak at 1.0786 and further weakness to 1.0727/31 would be seen, below would head towards 1.0698, 1.0663 later.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk one more rise towards 1.0807.

Data to be released on Tuesday :
New Zealand building permits, NBNA business outlook, NBNA own activity, Japan unemployment rate , industrial production, retail sales, consumer confidence, construction orders, Australia building permits, business inventories, current account, net exports contribution, China NBS manufacturing PMI, NBS non-manufacturing PMI.
U.K. nationwide house price, Swiss exports, imports, trade balance, retail sales, GDP, France consumer spending, GDP, CPI, producer prices, Germany unemployment rate, unemployment change, Italy GDP, CPI, EU HICP, Canada GDP.
U.S. monthly home price, Chicago PMI, consumer confidence and Dallas Fed manufacturing business index.

AceTraderFx Jun 01: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2022 03:00GMT

EUR/USD - 1.2611
Although euro’s selloff from Mon’s fresh 1-month peak at 1.0786 to as low as 1.0680 in New York Tue on broad-based usd’s rebound in tandem with U.S. yields suggests correction from May’s 5-year bottom at 1.0350 has made a temporary top there, subsequent strong rebound on retreat in usd would yield consolidation before prospect of another fall, below 1.0680 would bring stronger retracement towards 1.0643.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk stronger gain towards 1.0807

Data to be released on Wednesday:
Australia AIG manufacturing index, manufacturing PMI, GDP.
U.K. BRC shop price index, S&P Global manufacturing PMI, Japan business capex, Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, S&P Global manufacturing PMI, France budget balance, S&P Global manufacturing PMI, Swiss manufacturing PMI, Italy S&P Global manufacturing PMI, unemployment rate, EU S&P Global manufacturing PMI, unemployment rate.
U.S. mortgage application, ADP employment change, redbook, S&P Global manufacturing PMI, construction spending, ISM manufacturing PMI, JOLTS job openings, Canada BOC rate decision and S&P Global manufacturing PMI.

AceTraderFx Jun 02: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2022 03:00GMT

EUR/USD - 1.0646
Euro’s selloff from Monday’s 1-month 1.0786 high to 1.0680 Tuesday and yesterday’s break there to as low as 1.0628 in New York on rally in usd in tandem with US yields suggests correction from May’s 5-year trough of 1.0350 has made a temporary top there and further weakness towards 1.0608 would be seen but oversold condition should keep price above 1.0568 and yield rebound.

On the upside, only a daily close above 1.0680 would indicate pullback over and risk stronger gain towards 1.0706 before down.

Data to be released on Thursday:
New Zealand import prices, export prices, Australia trade balance, imports, exports.
Swiss CPI, U.K. Market Holiday, Italy Market Holiday, EU producer prices.
Canada building permits, U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durables goods, durable ex-transport and factory orders.

AceTraderFx Jun 06: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 06 Jun 2022 03:00GMT

EUR/USD - 1.0722
Euro’s selloff from last Monday’s 1-month peak at 1.0786 to 1.0628 Wed suggests corrective upmove from May’s 20-year bottom at 1.0350 has made a top and despite Fri’s strong rebound to 1.0764, subsequent retreat to 1.0705 in post-NFP New York on broad-based usd’s strength would head back to 1.0660/65, break would yield re-test of 1.0628.

On the upside, only a daily close above 1.0764 aborts bearishness on euro and risks stronger gain towards 1.0786.

Data to be released today:
New Zealand Market Holiday, China Caixin services PMI.
France Market Holiday, Germany Market Holiday and Swiss Market Holiday on Monday.

AceTraderFx Jun 07: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2022 03:00GMT

EUR/USD - 1.0689
Euro’s selloff from last Mon’s 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May’s fresh 5-year bottom at 1.0350 has made a top there and despite subsequent strong rebound to 1.0764 Fri, yesterday’s retreat from 1.0751 to 1.0685 in New York on broad-based usd’s strength due to rally in US yields has retained bearishness for 1.0660, 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Tuesday:
Australia AIG services index, RBA interest rate decision, Japan coincident index, leading indicator, all household spending.
U.K. BRC retail sales, S&P Global services PMI, Germany industrial orders, EU sentix index.
U.S. trade balance, redbook, Canada trade balance, imports, exports, Ivey PMI and New Zealand GDT price.