[B] DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 01 Feb 2017[/B] [I]01:40 GMT[/I]
EUR/USD - 1.0793
Yesterday’s impressive rally above last week’s 1.0775 high to a 7-week peak of 1.0811 (New York) following ‘euro comments’ by U.S.
Trump’s trade adviser confirms upmove from January’s near 14-year bottom at 1.0341 has once again resumed and expect initial consolidation before bringing further gain, near term loss of upward momentum should cap price below daily res at 1.0875 (2016 December high) and yield subsequent minor correction.
On the downside, only a daily close below 1.0740 suggests aforesaid rise has made a temporary top, then risk would shift to the downside for stronger retracement towards 1.0685 but this week’s low at 1.0620 should remain intact.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 03 Feb 2017[/B] [I]03:17 GMT[/I]
EUR/USD - 1.0758
Although euro’s strong retreat from yesterday’s 8-week high of 1.0829 to as low as 1.0756 in New York session due to broad-based short-covering rebound in the greenback confirms recent erratic upmove has made a temporary top there and consolidation with downside bias remains ahead of release of key U.S. jobs report, a daily close below 1.0732 sup needed to bring stronger retracement to 1.0685 and then towards 1.0620 later next week.
On the upside, above 1.0829 would extend marginal gain, however, loss of near term upward momentum should cap price below daily res at 1.0875 and risk is seen for a much-needed correction to take place.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 06 Feb 2017[/B] [I]01:19 GMT[/I]
EUR/USD - 1.0785
Euro’s strong rebound from 1.0712 to 1.0797 in post-NFP New York trading on Friday signals correction from Thursday’s 8-week peak at 1.0829 has ended there and intra-day retreat from 1.0800 (Australia) suggests consolidation is in store before re-test of said last week’s high, break would extend recent upmove from January’s near 14-year trough at 1.0341 to 1.0840/50, near term loss of upward momentum should cap price below key res at 1.0875 (December high).
On the downside, only below 1.0712 aborts present bullish scenario on the single currency.
[B]DAILY MARKET OUTLOOK on Major[/B]
Update Time: [B]10 Feb 2017[/B] [I]05:016 GMT[/I]
EUR/USD - 1.0663
Yesterday’s decline from 1.0710 in Europe and then later to 1.0651 in New York following Trump’s comments of a ‘phenomenal’ tax plan suggests correction from 1.0641 (Wednesday) has ended the same day at 1.0714 and decline from last Thursday’s 8-week peak at 1.0829 would head to 1.0620 after consolidation, loss of downward momentum is expected to keep price above 1.0580/89 sup today.
On the upside, only above 1.0714 confirms 1st leg of correction is over and may risk stronger retracement towards 1.0755 before prospect of another fall next week.
Data to be released on Friday:
Japan CGPI, China exports, imports, trade balance, France industrial production, Italy industrial output, UK construction output, industrial output, manufacturing output, trade balance, Canada employment, U.S. export price, import price and consumer sentiment.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [I]16 Feb 2017[/I] [I]02:50 GMT[/I]
EUR/USD - 1.0620
Despite euro’s resumption of recent decline from Feburary’s 1.0829 peak to a 5-week trough of 1.0522 after upbeat U.S. eco. data, subsequent rally to as high as 1.0608, then intra-day rise above there in Asia confirms aforesaid fall has made a temporary low and 1-2 days of choppy consolidation is in store.
Expect 1.0675 to cap present corrective rise and yield subsequent retreat, however, a daily below 1.0561 needed to signal correction is over and yield further weakness to 1.0480/85.
Data to be released :
Germany WPI, U.S. building permits, housing starts and jobless claims.
[B] DAILY MARKET OUTLOOK [/B]
Update Time: [B]27 Feb 2017[/B] [I]02:08 GMT[/I]
EUR/USD - 1.0565
Despite euro’s resumption of near term upmove from last Wed’s 6-week trough at 1.0494 to 1.0618 in New York morning on Fri, subsequent strong retreat suggests 1st leg of correction has ended and 1-2 days of choppy consolidation is in store, reckon 1.0522/26 would contain pullback and yield one more rise to 1.0640/50 before down.
Only a daily close below 1.0522 suggests said retracement has ended and brings one more fall twd next daily chart objective at 1.0454 later this week.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]03 Apr 2017[/B] [I]06:06 GMT[/I]
EUR/USD - 1.0677
Friday’s resumption of decline from 1.0907 (Monday) to a 2-week low at 1.0652 at New York close confirms euro’s medium-term upmove from January’s 1.0341 bottom has made a top there and expect initial consolidation today before aforesaid fall extends marginal weakness.
However, ‘loss of downward momentum’ should keep price well above daily chart sup at 1.0601.
On the upside, only above 1.0720 (previous sup, now res) would defer bearish scenario but 1.0740/50 should cap upside and yield another decline later this week.
[B]Data to be released later: [/B]
Swiss manufacturing PMI, Italy manufacturing PMI, France manufacturing PMI, Germany manufacturing PMI, EU manufacturing PMI, PPI, unemployment rate, UK manufacturing PMI.
Canada manufacturing PMI, U.S. manufacturing PMI, ISM manufacturing PMI and construction spending.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]05 Apr 2017[/B] [I]05:15 GMT[/I]
EUR/USD - 1.0680
Although euro’s rebound from yesterday’s fresh 2-week trough at 1.0636 (Europe) signals recent decline from March’s 4-month peak at 1.0907 has made a temporary low and consolidation is in store, as long as previous res at 1.0702 holds, downside bias remains for marginal weakness, loss of downward momentum should keep price above minor daily sup at 1.0601.
Only a daily close above 1.0702 would risk stronger retracement of aforesaid fall to 1.0730/40 before prospect of another fall later this week.
[B]Data to be released on Wednesday:[/B]
Australia service index, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, UK services PMI, U.S. ADP employment, services PMI, and ISM non-manufacturing PMI.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 06 Apr 2017[/B] [I]06:03GMT[/I]
EUR/USD - 1.0675
Despite yesterday’s marginal weakness to a fresh 2-week trough of 1.0635 after release of FOMC minutes, subsequent rebound on broad-based long USD liquidation suggests recent decline from Mar’s 4-month peak at 1.0709 has possibly made a temporary low and consolidation with upside bias is seen, above 1.0702 res needed to bring stronger retracement to 1.0730/40.
On the downside, below 1.0635/40 would yield one more fall.
However, loss of downward momentum should keep price well above minor daily sup at 1.0601 today.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]07 Apr 2017[/B] [I]06:02 GMT[/I]
EUR/USD - 1.0644
Although euro has remained under pressure after yesterday’s rebound from a 3-week trough of 1.0630 to 1.0675 (New York), as recent decline from Mar’s 4-month peak at 1.0709 is losing downward momentum.
Minor daily sup at 1.0601 is expected to hold ahead of release of key U.S. jobs data later.
Above 1.0785/89 would bring stronger retracement of aforesaid fall to 1.0702.
However, reckon 1.0736/40 would cap upside.
[B]Data to be released on Friday: [/B]
Japan leading economic index, Swiss unemployment rate, Germany industrial production, current account, imports, exports, trade balance, France exports, imports, trade balance, current account, UK house prices, industrial production, manufacturing production, trade balance, Italy retail sales, Canada unemployment rate, employment change, Ivey PMI, U.S. average hourly earnings, unemployment rate, non-farm payrolls, private payrolls and wholesale inventories.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]10 Apr 2017[/B] [I]05:11 GMT[/I]
EUR/USD - 1.0582
Friday’s selloff to a 4-week low of 1.0581 confirms euro’s recent decline from March’s 1.0907 peak has resumed and as long as 1.0630 (previous sup, now res) holds, outlook remains mildly bearish for further weakness, oversold condition is likely to keep price above daily chart sup at 1.0525 today and risk has increased for a minor correction to take place soon.
A daily close above 1.0630 would signal temporary bottom has been made and yield 1-2 days of consolidation, bring stronger retracement towards 1.0667, however, reckon res at 1.0684/89 would cap upside.
[B]Data to be released today: [/B]
Japan current account, machine tool orders, Italy industrial output, EU sentix index and Canada housing starts.
[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]12 Apr 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.0600
Yesterday’s intra-day rally to 1.0631 in New York morning due to short covering suggests recent decline from 1.0907 (March high) has made a temporary low at Monday’s fresh 4-week trough of 1.0571. Despite present retreat in Asia, 1.0571 should remain intact today and bring another corrective bounce towards 1.0660/70 later today.
Only below 1.0571 would extend said decline towards next daily chart obj. at 1.0525.
However, loss of downward momentum has increased risk of a much-needed correction soon.
Newbie here. Thanks AceTraderForex. Been trading forex for only a short while, but have appreciated the BabyPips forum for quite some time. Keep the EUR/USD posts coming. I enjoy them. Cheers,
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]18 Apr 2017 [/B] [I]02:13 GMT[/I]
EUR/USD - 1.0644
Despite extending last week’s decline to 1.0604 ahead of Asian open on Monday, subsequent erratic rise to 1.0670 in New York suggests further ‘choppy’ trading above April’s 1.0571 bottom at 1.0571 would continue, as long as 1.0678 (reaction high) holds, consolidation with downside bias remains for another fall towards 1.0590.
Only above 1.0678 would risk stronger retracement of recent fall from 1.0907 (mar high) towards 1.0702 before prospect of another fall later this week.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 19 Apr 2017[/B] [I]02:11 GMT
[/I]
EUR/USD - 1.0723
Yesterday’s ‘cable-led’ rally above last week’s 1.0678 high (now sup) to 1.0736 in New York session confirms early decline from March’s 1.0907 peak has ended at 1.0571 and gain to 1.0775/80 is envisaged after consolidation, loss of upward momentum would cap price at 1.0800.
On the downside, only a daily close below 1.0678 signals top has been made, then risk is seen for a stronger retracement to 1.0635 later.
[B]Data to be released later: [/B]
Italy trade balance, WPI, EU CPI, core CPI, trade balance.
U.S. mortgage applications and Fed Beige book.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]21 Apr 2017[/B] [I]05:19 GMT[/I]
EUR/USD - 1.0718
Although euro’s strong retreat from Thursday’s 3-week high of 1.0778 (Europe) in New York after news of fatal shooting in Paris confirms recent upmove has made a temporary top and sideways swings are in store, as long as 1.0678 (previous res, now sup) holds, upside bias remains but above 1.0778 needed to extend marginal gain to 1.0800/10 before correction.
Below 1.0678 anytime would risk stronger retracement towards 1.0635.
[B]Data to be released: [/B]
France manufacturing PMI, services PMI, Germany manufacturing PMI, services PMI, Italy industrial orders, EU manufacturing PMI, services PMI, current account, UK retail sales.
Canada CPI, U.S. manufacturing PMI, services PMI, and home sales.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]24 Apr 2017[/B] [I]05:21 GMT[/I]
EUR/USD - 1.0844
Despite initial gap-up open and then a brief rise to a 5-month peak of 1.0939 shortly after New Zealand open as election win on the first round of French Presidential election by centrist Macron has triggered broad-based short-covering in the euro vs usd, yen, gbp and chf, intra-day strong retreat after short-term buying quickly fizzled out suggests temporary top has been made and ‘choppy’ sideways swings with downside bias is envisaged.
As long as 1.0800 holds, stronger retracement towards 1.0778 would be seen, break would extend weakness to 1.0730/40 later today or tom but 1.0683 sup (Friday’s low) should remain intact.
[B]
Data to be released later:[/B]
Germany Ifo business climate, current assessment, expectations, UK house price, CBI trends.
Canada wholesale sales and U.S. National activity index on Monday.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]26 Apr 2017[/B] [I]01:50 GMT[/I]
EUR/USD - 1.0937
Although yesterday’s brief break of Monday’s 1.0939 high to a fresh 5-month peak of 1.0950 in New York on ECB sources the ECB may tweak its language following Thursday’s policy meeting, as recent upmove is losing upward momentum, strong gain is not expected today and reckon 1.1000 (option barrier) would remain intact.
On the downside, a daily below 1.0900 anytime signals temporary top is in place, then risk would shift to the downside for a stronger retracement towards 1.0852 later.
[B]Data to be released on Wednesday: [/B]
Australia CPI, France consumer confidence, U.S. mortgage applications, building permits and Canada retail sales.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]27 Apr 2017[/B] [I]02:41 GMT[/I]
EUR/USD - 1.0908
Despite yesterday’s stronger-than-expected decline from a fresh 5-1/2 month peak of 1.0951 (Europe) to 1.0856 in New York morning due to broad-based long liquidation in the euro, subsequent rebound after market was disappointed by Trump’s vague tax plan suggests said correction is possibly over and consolidation with upside bias is seen ahead of ECB press conference.
Above 1.091 would encourage for marginal gain, loss of momentum is likely to cap price below 1.1000.
Below 1.0856 would shift risk to downside for stronger correction to 1.0821 sup, break may extend towards 1.0778.
[B]Data to be released on Thursday: [/B]
Australia export price index, import price index, Japan BoJ rate decision.
Germany consumer confidence, CPI, HICP, UK house price, CBI trades, Italy business confidence, consumer confidence, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, ECB rate decision.
U.S. jobless claims, durable goods, trade balance, wholesale inventories and pending home sales.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 08 May 2017[/B] [I]05:08 GMT[/I]
EUR/USD - 1.0976
Despite initial gain to a near 6-month peak of 1.1024 in early New Zealand trading following expected election win by France’s Macron, intra-day strong retreat to 1.0958 at Asian open suggests temporary top has been made and choppy trading is in store, as long as last Friday’s post-NFP low at 1.0949/50 holds, upside bias remains for another bounce but above 1.1024 needed to head to 1.1040/50.
A daily close below 1.0949 would risk stronger correction of recent uptrend to 1.0900 but reckon sup at 1.0876 would contain weakness.