AceTraderFx Aug 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 10 Aug 2017 01:22 GMT
EUR/USD - 1.1759
Euro’s anticipated rebound from 1.1689 to 1.1761 in New York on Wednesday signals 1st leg of correction from last Wednesday’s fresh 2-1/2 year peak at 1.1909 has ended and intra-day retreat from 1.1771 (AUS) would bring consolidation before another rise to 1.1800 later today.
On the downside, only below 1.1716 may risk weakness towards 1.1689 before prospect of another rebound.
Data to be released on Thursday:
New Zealand interest rate decision, monetary policy statement, press conference, U.K. house price balance, manufacturing output, industrial output, goods trade balance, Japan CGPI, machinery orders, tertiary industry index, France industrial output, Italy trade balance, Canada new house price index, and U.S. PPI, core PPI, Fed budget.
AceTraderFx Aug 11: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 11 Aug 2017 02:35 GMT
EUR/USD - 1.1770
Yesterday’s anticipated rise to 1.1784 after weak U.S. PPI data confirms euro’s 1st leg of correction from last week’s fresh 2-1/2 year peak at 1.1909 has ended at 1.1689 (Wednesday) and consolidation with upside bias remains for further gain.
However, near term o/bot condition may cap price at 1.1824 and yield subsequent retreat.
On the downside, only below 1.1705 dampens bullish view and may risk re-test of 1.1689.
Data to be released on Friday:
New Zealand manufacturing PMI, food price index, Japan’s market holiday Germany CPI, HICP, France CPI, nonfarm payroll prelim, Italy CPI, and U.S CPI, core CPI.
AceTraderFx Aug 15: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]15 Aug 2017[/B] [I]02:25 GMT[/I]
EUR/USD - 1.1788
Euro’s decline to 1.1770 yesterday suggests early rise from last week’s 1.1689 low has made a temporary top at 1.1846 (Friday) and choppy consolidation with near term downside bias is in store, reckon 1.1749 would contain weakness and bring another rebound but above 1.1846 needed to extend said erratic upmove to 1.1880/90.
A daily close below 1.1749 would prolong choppy trading below August’s 1.1909 peak and may risk weakness to 1.1705, then possibly towards 1.1689 later this week.
Investors are looking to a report on U.S. retail sales due Tuesday for their next clue on the trajectory of U.S. inflation.
AceTraderFx Aug 16: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]16 Aug 2017[/B] [I]02:25 GMT[/I]
EUR/USD - 1.1738
Although euro’s rebound after falling one tick below last week’s 1.1689 low in New York following robust U.S. data suggests recent decline has made a temporary bottom and consolidation is in store, as long as 1.1769/70 (previous sup, now res) holds, outlook remains mildly bearish for one more fall, loss of downward momentum should keep price above daily sup at 1.1614.
On the upside, a daily close above 1.1769 would be the 1st signal correction from 1.1909 has ended, then price would head back to 1.1810/15.
[B]Data to be released on Wednesday: [/B]
Australia Westpac leading index, Italy GDP, UK claimant count, average earnings, ILO unemployment rate, EU GDP.
Canada housing starts, and U.S. MBA mortgage application, building permits, housings starts, FOMC minutes.
AceTraderFx Aug 18: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]18 Aug 2017[/B] [I]02:25 GMT[/I]
EUR/USD - 1.1728
Despite yesterday’s resumption of recent ‘erratic’ decline from Aug’s 1.1909 peak to a 3-week trough of 1.1663 after ECB minutes said policymakers showed concerns over recent euro’s strength, subsequent rebound to 1.1753 in New York due to broad-based usd’s weakness suggests low is possibly made and consolidation with upside bias is seen for retracement of aforesaid fall to 1.1790/93.
Only below 1.1700/05 may risk weakness towards 1.1663, however, loss of downward momentum is expected to keep the single currency above daily chart sup at 1.1614.
[B]Data to be released on Friday: [/B]
Germany PPI, EU current account, construction output, Canada retail sales, CPI, core CPI, and U.S. university of Michigan sentiment.
AceTraderFx Aug 22: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]22 Aug 2017[/B] [I]02:05 GMT[/I]
EUR/USD - 1.0821
Yesterday’s anticipated rally from 1.1732 (Europe) to as high as 1.1828 in New York due to renewed broad-based usd’s weakness suggests early correction from August’s 2-1/2 year peak at 1.1909 has ended at 1.1663 last week and consolidation with upside bias remains for gain to 1.1890/92 after consolidation, near term overbought condition would cap price below said August’s high.
On the downside, only below 1.1775 (Friday’s high, now sup) would signal temporary top is made and may risk stronger retreat towards 1.1732 before prospect of another rise.
[B]Data to be released on Tuesday: [/B]
U.S. President Trump to address the nation on Afghanistan, Swiss imports, exports, trade balance, U.K. PSNB, PSNCR, CBI industry trends survey, Germany ZEQWeconomic sentiment, ZEW current conditions, EU ZEW economic sentiment.
Canada retail sales, and U.S. redbook, monthly home price, Richmond Fed composite index.
AceTraderFx Aug 25: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]25 Aug 2017[/B] [I]02:05 GMT[/I]
EUR/USD - 1.1795
Yesterday’s relatively narrow move suggests further sideways swings would continue ahead of key speeches by Fed Chair Yellen and ECB’s Draghi at Jackson Hole Symposium later today and as long as 1.1741 sup holds, upside bias remains for re-test of this week’s 1.1828 high (Mon), above signals correction from August’s peak at 1.1909 has ended and price would head to 1.1845, then towards 1.1892 next week.
Only a daily close below 1.1741 would risk another fall but reckon last week’s bottom at 1.1663 should remain intact.
[B]Data to be released on Friday: [/B]
New Zealand exports, imports, trade balance, Japan leading economic index, coincident index, France business climate, Swiss industrial production, U.K. GDP, BBA mortgage approvals, CBI distributive trades, and U.S. initial jobless claims, building permits, existing home sales, KC Fed manufacturing.
Fed Chair Yellen and ECB’s Draghi will deliver key speech at Jackson Hole Symposium during New York session.
AceTraderFx Aug 29: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]29 Aug 2017[/B] [I]05:35 GMT[/I]
EUR/USD - 1.1968
Euro’s intra-day marginal gain above Monday’s fresh 30-mnth peak at 1.1983 to 1.1985 in Australia due to selloff in usd/jpy suggests price would extend recent upmove towards ‘psychological’ level at 1.2000 after consolidation.
However, loss of upward momentum would prevent strong rise and reckon 1.2030/35 should remain intact.
On the downside, only below 1.1918 would indicate temporary top has been made and may risk stronger retracement to 1.1880/90 later before prospect of a rebound.
Pay attention to release of German Gfk consumer confidence at European open and then later France’s consumer spending and Q2 GDP.
AceTraderFx Aug 31: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]31 Aug 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1895
Yesterday’s break of 1.1947 sup to 1.1881 after upbeat U.S. eco. data confirms euro’s recent strong uptrend has made a top at Tuesday’s fresh 30-month peak at 1.2070 and as long as 1.1947 holds, stronger retracement towards 1.1823/28 would be seen later today or tomorrow.
Only a daily close above 1.1947 signals 1st leg of correction is over and risk stronger recovery to 1.1984/86 before prospect of another fall.
[B]Data to be released on Thursday: [/B]
Japan industrial production, construction orders, housing starts, China NBS non-manufacturing PMI, NBS manufacturing PMI, Australia HIA new home sales, capital expenditure, building capex, New Zealand ANZ business confidence, ANZ activity outlook.
U.K. GFK consumer confidence, France producer prices, CPI, Italy unemployment rate, CPI, CPI(EU Norm), Germany retail sales, unemployment rate, unemployment change, EU unemployment rate, CPI.
Canada GDP, and U.S. personal income, personal spending, PCE, initial jobless claims, Dallas Fed PCE, Chicago PMI, pending home sales.
AceTraderFx Sept 01: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 01 Sep 2017[/B] [I]05:10 GMT[/I]
EUR/USD - 1.0909
Despite yesterday’s resumption of decline from Tuesday’s fresh 30-month peak at 1.3070 to 1.1824 at New York open, subsequent strong rebound after soft U.S. data and Treasury yields suggests 1st leg of correction is over and choppy sideways swings are seen ahead of release of key U.S. jobs report.
As long as res at 1.1984 holds, downside bias remains for re-test of 1.1824 but reckon 1.1774 sup would contain weakness and only above 1.1984 may risk stronger retracement to 1.2000/10 before another fall next week.
[B]Data to be released on Friday: [/B]
New Zealand terms of trade index, Australia AIG manufacturing index, Japan business Capex, Nikkei manufacturing PMI, consumer confidence, China Caixin manufacturing PMI.
Swiss retail sales, manufacturing PMI, Italy Markit manufacturing PMI, GDP, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, , U.K. Markit manufacturing PMI.
Canada Markit manufacturing PMI, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, Markit manufacturing PMI, construction spending, ISM manufacturing PMI, ISM prices paid, University of Michigan sentiment.
AceTraderFx Sept 04: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 04 Sep 2017[/B] [I]05:10GMT[/I]
EUR/USD - 1.1883
Despite euro’s brief jump to 1.1979 after soft U.S. jobs data last Friday, subsequent strong retreat to 1.1850 in New York session suggests recovery from 1.1824 (Thursday) has ended there and choppy swings are in store with downside bias, below 1.1824 would extend decline from last week’s fresh 30-month peak at 1.2070 to 1.1780/90.
Only above 1.1947 would prolong choppy trading and may risk stronger gain to 1.1974/79 before prospect of another fall.
[B]Data to be released today: [/B]
Australia ANZ job ads, EU sentix index, U.K. Markit construction PMI, EU producer prices, Canada market holiday and U.S. market holiday on Monday.
AceTraderFx Sept 11: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]11 Aug 2017[/B] [I]05:05 GMT[/I]
EUR/USD - 1.2013
Despite euro’s resumption of its recent uptrend to a fresh 10-1/2 month peak at 1.2093 ahead of European open last Friday, subsequent strong retreat to 1.3016 in New York, then intra-day marginal weakness below this sup suggests temporary top has been made, a firm break of 1.2000 would bring stronger retracement to 1.1985 but reckon 1.1930 would hold.
Only above 1.2060/70 signals pullback is over and brings re-test of 1.2093, loss of upward momentum would cap price below 1.2140/50.
[B]Data to be released today: [/B]
Japan trade balance, machinery orders, tertiary industry index, Italy industrial output, and Canada housing starts on Monday.
AceTraderFx Sept 13: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]13 Aug 2017[/B] [I]05:20 GMT[/I]
EUR/USD - 1.1978
Despite yesterday’s resumption of recent decline from last Fri’s fresh 30-month peak at 1.2093 to 1.1927, subsequent rebound to 1.1973 in New York, then intra-day break of this level suggests said fall has made a temporary low n 1-2 days of choppy consolidation with mild upside bias is seen, however, res at 1.2029 should cap present gain.
On the downside, below 1.1947/48 sup would yield one more fall, however, loss of downward momentum should keep price well above minor sup at 1.0903.
[B]
Data to be released on Wednesday: [/B]
Japan corp goods price, Australia consumer sentiment, Germany CPI, HICP, Swiss producer/import price, U.K. claimant count, ILO unemployment rate, avg wk earnings, EU employment, industrial production, and U.S. MBA mortgage app, PPI.
AceTraderFx Sept 14: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2017 05:20 GMT
EUR/USD - 1.1880
Although yesterday’s break of Tuesday’s 1.1927 low (now res) to 1.1874 due to renewed usd’s broad-based gain confirms decline from last Fri’s fresh 30-month peak at 1.2093 has resumed, near term loss of downward momentum would prevent steep fall and reckon sup at 1.1824 should hold and bring rebound.
On the upside, a daily close above 1.1927 signals 1st leg of correction is over and brings a much-needed recovery towards 1.1965 but res at 1.1995 should cap euro’s upside.
France will release CPI data n then the same from Italy during European morning.
Pay attention to speech by ECB Board member and Buba President Weidmann at 15:30GMT and then ECB Board member Mersch at 16:00GMT.
ECB’s Smets and Jazbec will also speak at conference on Macroprudential Policies later today.
AceTraderFx Sept 18: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]18 Sept 2017[/B] [I]05:00 GMT[/I]
EUR/USD - 1.1947
Euro’s anticipated rally to 1.1988 last Fri confirms 1st leg of correction from September’s 30-month peak at 1.2093 has ended earlier at 1.1839 (Thur) and subsequent retreat would bring consolidation before marginal gain to 1.1995, near term ‘loss of momentum’ would cap price below res at 1.2029.
On the downside, only a daily close below 1.1902 sup suggests said corrective rise has ended and bring weakness to 1.1867, then re-test of 1.1839.
A small handful of eco. data is due out during European morning starting with Italy’s trade balance n EU CPI data.
ECB Board member Sabine Lautenschlager is participating in panel at a conference called “Supervisory policy implementation in the current macro-financial environment: a cross-sectoral journey,” in Basel, Switzerland at 14:30 GMT.
AceTraderFx Sept 25: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]25 Sept 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1930
Despite euro’s gain to 1.2005 in Europe last Friday, subsequent weakness to 1.1938 in New York, then intra-day gap down to 1.1897 after Sunday’s inconclusive election win by Germany’s Merkel suggests price would continue to ‘gyrate’ inside recent 1.1839-1.2034 broad range.
As long as 1.2005 holds, downside bias remains for subsequent weakness towards last week’s low at 1.1862 and only above 1.2005 risks possible re-test of 1.2034 later.
[B]Data to be released today: [/B]
Japan Nikkei manufacturing PMI, leading indicator, coincident indicator.
Germany IFO business climate, IFO current conditions, IFO expectations.
U.S. national activity index, Dallas Fed manufacturing business index.
AceTraderFx Oct 03: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]03 Oct 2017[/B] [I]05:5 GMT[/I]
EUR/USD - 1.1711
Euro’s intra-day anticipated break of last Wed’s 5-week trough at 1.1718 confirms recent fall from September’s 2-1/2 year peak at 1.2093 has once again resumed, however, near term loss of momentum would prevent steep fall and reckon 1.1663 (August low) would contain weakness, bring correction later today or tomorrow.
On the upside, a daily close above 1.1763 would be the 1st signal temporary low is made and yield retracement to 1.1800/10.
As Sun’s Catalan referendum for independence from Spain is seen by market as risk for the EU following media report the Catalan Parliament will hold meeting today to decide whether to issue a declaration of independence or not, euro is therefore expected to remain under pressure in Europe, so selling the single currency is favoured.
Eco. data calendar is very light with EU PPI being the only data due out.
AceTraderFx Oct 06: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]06 Oct 2017[/B] [I]06:00 GMT[/I]
DAILY MARKET OUTLOOK
EUR/USD - 1.1709
Yesterday’s intra-day selloff to 1.1700 in New York suggests re-test of Wednesday’s 5-week trough at 1.1697 would be forthcoming soon where a break there would extend recent decline from September’s 2-1/2 year peak at 1.2093 towards 1.163 (August low), loss of momentum would keep price above 1.1610/15.
On the upside, only above 1.1788 would risk stronger correction of aforesaid fall towards 1.1833 before prospect of another decline next week.
[B]Data to be released on Friday: [/B]
China market holiday, Japan coincident indicator, leading indicator.
Germany industrial orders, France current account, U.K. Halifax house price, Italy retail sales.
Canada employment change, unemployment rate, Ivey PMI, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale sales.
AceTraderFx Oct 12: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]12 Oct 2017[/B] [I]05:25 GMT[/I]
EUR/USD - 1.1859
Euro’s resumption of upmove from last Fri’s near 7-week bottom at 1.1670 and then yesterday’s daily close above res at 1.1833 suggests early correction from 1.2093 (September) has possibly ended and consolidation with upside bias remains for further gain, loss of upward momentum should cap price below 1.1931 (61.8% r from 1.2093) today.
On the downside, only below 1.1796 sup signals temporary top is made, however, reckon 1.1763 sup would contain weakness.
On the eco. data front, France will release CPI, then EU’s industrial production. Pay attention to speeches by a line of ECB officials who are attending several conferences in Washington D.C. ECB’s Draghi will speak at 14:30GMT, then ECB’s Praet at the same time (diff. venue), ECB’s Coeure at 19:45GMT n then ECB’s Lautenschlager at 20:10GMT.
The 2017 Annual Meetings of the World Bank Group and the International Monetary Fund will take place between Oct 13-15 in Washington, D.C., so expect lots of breaking news on comments by various senior officials.
AceTraderFx Oct 13: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]13 Oct 2017[/B] [I]05:25 GMT[/I]
EUR/USD - 1.1842
Although euro’s intra-day cable-led retreat from yesterday’s fresh 2-week high of 1.1880 to 1.1828 (NY), then 1.1826 today confirms near term upmove from Oct’s near 7-week bottom at 1.1760 has made a temporary top and consolidation is in store ahead of U.S. inflation data, as long as 1.1796/02 sup area holds, upside bias remains but reckon 1.1936 would cap this week’s gain.
A daily close below 1.1796 confirms 1st leg of upmove is over and may risk stronger retracement to 1.1740/50 before rebound.
[B]Data to be released on Friday: [/B]
Germany CPI, HICP, Swiss producer/import price, Italy CPI.
U.S. CPI, real weekly earnings, retail sales, retail control, business inventories, University of Michigan sentiment.
DAILY MARKET OUTLOOK on Major