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

AceTraderFx Jun 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 14 Jun 2017 05:03 GMT

EUR/USD - 1.1211
Yesterday’s sideways swings following early rebound from last Friday’s 1-week low at 1.1167 signals first leg of correction from May’s near 7-month peak at 1.1285 has ended and range trading would continue ahead of Fed rate decision later today, as long as 1.1263 holds downside bias remains for stronger correction to 1.1035/40 but daily sup at 1.1110 should remain intact.

Only above 1.1285 confirms Medium Term uptrend has once again resumed and extend gain to 1.1320/30, loss of momentum should cap price below 1.1366 this week.

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jun 2017 05:21GMT

EUR/USD - 1.1155
Yesterday’s anticipated weakness to 1.1133 and then daily close below last week’s 1.1167 low confirms euro’s medium-term upmove has indeed made a temporary top at Wed’s 7-month peak at 1.1286 and re-test of next daily sup at 1.1110 is envisaged, near term loss of momentum would keep price above 1.1076 today.

Only above 1.1194 signals 1st leg of correction is over but 1.1225/29 would cap upside.

EU will release inflation data n EZ FInMins are meeting in Brussels today, so keep an eye out on comments by some of the officials during European session.

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Jun 2017 06:18 GMT

EUR/USD - 1.1196
although euro’s rally from to 1.1139 to 1.1201 (New York) after downbeat U.S. eco. data suggests 1st leg of correction from Wednesday’s 7-month peak at 1.1296 has ended at 1.1133 (Thursday) and consolidation with mild upside bias is in store, reckon 1.1245/50 would cap present rise and yield another leg of decline later this week.

A firm break of 1.1155/60 would signal correction is over and bring weakness to 1.1110, however, loss of downward momentum would keep price to 1.1076.

Apart rm release of a slew of euro countries’ eco. data, pay attention to speeches by ECB’s Lautenschlaeger at 09:00GMT, then later ECB’s Nousy at 14:00GMT.

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

DAILY MARKET OUTLOOK on Major

Update Time: 23 Jun 2017 06:10 GMT

EUR/USD - 1.1149
Euro’s retreat from 1.1178 to 1.1140 yesterday suggests 1st leg of correction from Tuesday’s near 3-week bottom at 1.1119 has ended and consolidation is in store before prospect of another rise, reckon res at 1.1213 would cap upside and yield resumption of recent decline later next week.

Only below 1.1119 would extend early fall from June’s 7-month peak at 1.1296 towards next daily downside chart objective at 1.1076.

Eco. calendar for the euro area countries is pretty heavy starting with France’s GDP, Markit mfg and services PMIs, Germany’s mfg & services PMIs, Italy’s industrial sales n orders, EU Markit mfg n services PMIs.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2017 05:00 GMT

EUR/USD - 1.1184
Yesterday’s retreat from 1.1220 to 1.1175 in New York afternoon after dovish comments by ECB’s Draghi suggests euro’s corrective rise from last Tuesday’s near 3-week low at 1.1119 has possibly ended and consolidation with downside bias is in store, below 1.1140/46 sup would bring subsequent weakness towards 1.1119.

On the upside, only above previous res at 1.1225/29 would yield marginal gain, however, loss of upward momentum should cap price at 1.1240/44.

Data to be released on Tuesday:
UK CBI trades, U.S. redbook, home price and consumer confidence.

AceTraderFx Jun 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2017 02:07 GMT

EUR/USD - 1.1344
Euro’s spectacular rally on Tue on the back of surprise hawkish comments by ECB’s Draghi and then intra-day break of previous Jun’s 1.1296 high at 1.1296 (now sup) to a 10-month peak at 1.1349 in New York suggests MediumTerm upmove would head to next daily chart obj. at 1.1366.
However, overbought condition would cap price below 1.1415.

On the downside, a daily close below 1.1296 would be the first indication temporary top is in place and yield stronger retracement towards 1.1220 later this week.

Data to be released on Wednesday:
Germany import price index, UK housing prices, France consumer confidence, Italy CPI, HICP, U.S. mortgage applications, wholesale inventories, goods trade balance and pending home sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Jun 2017 01:16 GMT

EUR/USD - 1.1437
Despite yesterday’s expected resumption of recent upmove to a 14-month peak at 1.1445 on broad-based usd’s weakness in New York due to fall in U.S. equities and marginal gain is envisaged after consolidation, loss of upward momentum should cap price below psychological 1.1500 level and risk has increased for a long-overdue minor correction to take place.

A firm break of 1.1289 (New York low) anytime would be the 1st signal temporary top is in place, risk stronger retracement to 1.1325/30.

Data to be released on Friday:
New Zealand building permits, Japan Tokyo CPI, National CPI, unemployment rate, household spending, industrial production.
Germany retail sales, France consumer spending, CPI, UK consumer confidence, GDP, current account, EU CPI, core CPI.
Canada GDP, PPI, U.S. PCE, personal spending, Chicago PMI and consumer sentiment.

AceTraderFx July 04: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jul 2017 01:40 GMT

EUR/USD - 1.1371

Yesterday’s break of previous 1.1389/93 sup due to long liquidation in the euro and then subsequent weakness to 1.1355 in New York on the back of upbeat U.S. eco. data confirms recent uptrend has made a temporary top at last Thursday’s 14-month peak at 1.1445 and consolidation with downside bias remains for weakness to 1.1320/25 before prospect of rebound later.

On the upside, only above 1.1427 would signal aforesaid correction has ended and bring re-test of 1.1445.

Data to be released on Tuesday:
New Zealand business confidence, Australia retail sales, RBA rate decision, UK construction PMI, EU PPI and Canada manufacturing PMI.

AceTraderFx July 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jul 2017 01:47 GMT

EUR/USD - 1.1355
Despite euro’s intra-day recovery from yesterday’s 1.1337 low and subsequent sideways move in holiday-thinned North American session, as long as 1.1389/93 (previous sup, now res) holds, outlook remains mildly bearish for decline from last Thursday’s near 14-month peak at 1.1445 to resume, loss of downward momentum is expected to keep price above 1.1292/96 and bring rebound.

A firm break above 1.1393 would be the 1st signal said minor correction from 1.1445 has possibly ended and yield subsequent gain twd 1.1427.

Economic data due out on Wednesday include U.K. BRC shop prices, Australia’s AIG services index, China’s Caxin services PMI, Italy’s, France’s, Germany and EU’s services PMI, U.K. services PMI, EU retail sales. U.S. data include Redbook ales, ISM New York index, durable goods,factory orders and then FOMC minutes.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jul 2017 05:15 GMT

EUR/USD - 1.1341
Euro’s rebound from yesterday’s near 1-week bottom at 1.1313 (Europe) and then subsequent bounce in post-Fed minutes New York trading suggests decline from last Thursday’s near 14-month peak at 1.1445 has made a temporary low and consolidation is in store, as long as 1.1400 holds, downside bias remains for marginal weakness but reckon 1.1292 sup would contain downside.

A daily close above 1.1400 signals correction is over and yields re-test of 1.1445.

Data to be released today:
Australia imports, exports, trade balance, Germany industrial orders, Swiss CPI, U.S. trade balance, jobless claims, ISM non-manufacturing PMI, Canada imports, exports and trade balance.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jul 2017 01:12 GMT

EUR/USD - 1.1401
Fri’s intra-day retreat from 1.1440 to 1.1380 in post-NFP New York trading suggests further choppy trading below Jun’s near 14-month peak at 1.1445 would continue with downside bias, below 1.1380 would bring another fall to 1.1357/60, however, as outlook remains consolidative, 1.1330 would contain weakness.

Only above 1.1440/45 extends Medium Term upmove to 1.1460/70, however, loss of upward momentum should cap price well below 1.1500.

Data to be released today:
Japan current account, trade balance, machinery orders, China CPI, PPI, Germany imports, exports, current account, trade balance and EU sentix index on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jul 2017 01:25 GMT

EUR/USD - 1.1395
Despite moving narrowly in yesterday’s lackluster session, euro’s decline from 1.1440 to 1.1380 in post-NFP New York trading suggests choppy trading below June’s near 14-month peak at 1.1445 would continue with downside bias, a firm break of 1.1380 would ring stronger retracement towards 1.1330.

Only above 1.1440/45 confirms Medium Term upmove has resumed, however, loss of upward momentum should cap price below ‘psychological’ 1.1500.

Data to be released on Tuesday:
UK BRC retail sales, Australia NAB business conditions, business confidence, Italy industrial output.
Canada housing starts, U.S. Redbook, wholesale inventories and wholesale sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jul 2017 02:03 GMT

EUR/USD - 1.1474
Despite swing broadly sideways in last 2 sessions, yesterday’s rally in New York due to usd’s broad-based weakness and then break of June’s near 14-month peak at 1.1445 to 1.1479 confirms Medium Term uptrend from 1.0341 (January) has finally resumed and test of ‘psychological’ 1.1500 level is now envisaged, reckon minor res at 1.1530 would cap upside.

On the downside, only a daily close below 1.1445 would be the 1st signal temporary top is made, risk stronger retracement towards 1.1380.

Data to be released on Wednesday:
Japan CGPI, Australia consumer sentiment.
UK unemployment rate, average week earnings, EU industrial production.
Canada BoC rate decision, U.S. mortgage applications and Beige book. Fed Chair will testify before the Congress.

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jul 2017 02:20 GMT

EUR/USD - 1.1435
Despite yesterday’s initial gain to a fresh 14-month peak of 1.1490 in Europe, subsequent selloff after release of Fed Yellen’s prepared statements to as low as 1.1392 due to broad-based long liquidation in the euro suggests long-overdue correction has occured and expect choppy consolidation to take place before prospect of another fall but 1.1330/40 should hold.

Only above 1.1460/70 may risk another rise towards 1.1490 but option barrier at 1.1500 is expected to cap euro’s upside.

Data to be released on Thursday:
China exports, imports, trade balance, Germany CPI, HICP, France HICP, Swiss PPI, U.S. jobless claims, PPI and core PPI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jul 2017 02:30 GMT

EUR/USD - 1.1477
Euro’s anticipated gain to 1.1487 in New York yesterday suggests re-test of last Wed’s 14-month peak at 1.1490 would be forthcoming soon and above ‘psychological’ 1.1500 level would encourage for Medium Term uptrend to head towards next daily chart obj. at 1.1530 later.

Only a firm break below 1.1435 would prolong choppy consolidation and risk weakness to 1.1400 but sup at 1.1371 should remain intact.

Data to be released on Tuesday:
New Zealand CPI, China House Price Index.
UK RPI, CPI, PPI input, PPI output, DCLG house price.
U.S. export price, import price, redbook and NAHB housing market.

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jul 2017 01:30 GMT

EUR/USD - 1.1477
Euro’s anticipated gain to 1.1487 in New York yesterday suggests re-test of last Wed’s 14-month peak at 1.1490 would be forthcoming soon and above ‘psychological’ 1.1500 level would encourage for MT uptrend to head towards next daily chart objective at 1.1530 later.

Only a firm break below 1.1435 would prolong choppy consolidation and risk weakness to 1.1400 but sup at 1.1371 should remain intact.

Data to be released on Wednesday:
Australia Westpac leading index, EU construction output.
UK inflation report hearings.
U.S. MBA mortgage, building permits, housing starts and Canada manufacturing sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jul 2017 02:33 GMT

EUR/USD - 1.1527
Although the euro remained on the back foot yesterday due to broad-based long liquidation of recent long euro positions ahead of Thursday’s ECB policy meeting following Tuesday’s rally to a fresh 14-month of 1.1584, as 1.1511 (New York) has contained weakness, consolidation with upside bias is retained.
However, near term ‘loss of upward momentum’ may cap price below 2016 peak at 1.1617.

A daily close below 1.1500 would confirm temporary top has been made and risk stronger retracement to 1.1472, then later towards 1.1435.

Data to be released on Thursday:
Japan imports, exports, trade balance, Australia NAB business confidence, employment change, unemployment rate, Japan interest rate decision, monetary policy statement, outlook report, all industry activity, press conference.
Swiss trade balance, exports, imports, EU PPI, current account, UK retail sales and core retail sales.
ECB interest rate decision, consumer confidence, monetary policy statement and press conference, U.S. initial jobless claims, Philadelphia Fed survey.

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jul 2017 02:22 GMT

EUR/USD - 1.1668
Despite euro’s marginal rise above last Fri’s fresh 22-month high of 1.1682 to 1.1684 at Asian open due to renewed weakness in dlr/yen, lack of follow-through buying and intra-day pullback suggests consolidation is in store, reckon 1.1617 sup would contain retreat and yield resumption of MT uptrend twd 2015 peak at 1.1715.

Only below 1.1617 confirms temporary top is made and risks stronger retracement towards 1.1484 before prospect of rebound.

Data to be released today:
Japan Nikei manufacturing PMI, coincident index, leading economic index.
France manufacturing PMI, services PMI, Germany manufacturing PMI, services PMI, EU manufacturing PMI, services PMI
Canada wholesales MM, and U.S. manufacturing PMI, services PMI, existing homes sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jul 2017 05:21 GMT

EUR/USD - 1.1643
Despite yesterday’s anticipated rise to a fresh 23-month high of 1.1512 in New York morning, failure to re-test 2015 peak at 1.1715 and subsequent strong retreat due to upbeat U.S. data and rising Treasury yields suggests Medium Term uptrend has formed a temporary top and range trading is in store ahead of FOMC policy statements later today.

As long as 1.1617/26 sup area holds, upside bias remains but above 1.1612/15 needed to extend gain towards 1.1752, a daily close below 1.1617 may risk stronger correction towards 1.1684.

Euro area countries will release a slew of eco. data starting with France’s consumer confidence, then the same from Italy as well as business confidence.
ECB’s Board member Lautenschlager will give a speech in Berlin at 15:30GMT followed by ECB’s Nowotny at 16:00GMT in Vienna.

AceTraderFx July 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jul 2017 02:28 GMT

EUR/USD - 1.1685
Despite a brief jump in thin Asian lunch session yesterday to a near 2-1/2 year high of 1.1777, subsequent stronger-than-expected decline to 1.1651 due to broad-based usd’s short-covering rally in New York session suggests temporary top has been made and 1-2 days of choppy consolidation is in store.

As long as this week’s low at 1.1614 holds, prospect of another rebound remains but 1.1777 should cap upside.
A daily close below 1.1614 would risk stronger correction to 1.1584, then 1.1561/65.

Data to be released on Friday:
U.K. consumer confidence, Japan household spending, CPI, unemployment rate, retail sales, Australia PPI, France GDP, consumer spending, CPI, Germany import price, Swiss KOF indicator, EU consumer confidence, business climate, economic sentiment, industrial sentiment, service sentiment, Germany CPI, HICP, Canada GDP and U.S. employment wages, employment benefits, employment cost, GDP, employment cost index, Michigan consumer sentiment, PCE, GDP.