[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]09 May 2017[/B] [I]05:10 GMT[/I]
EUR/USD - 1.0930
Although euro’s decline from a near 6-month peak of 1.1024 to as low as 1.0917 (New York) suggests recent uptrend has made a temporary top and several days of choppy consolidation is in store, near term oversold condition should keep price well above 1.0876 sup and bring rebound later today, however, reckon 1.1000 should cap upside.
On the downside, only below 1.0876 risk stronger retracement towards next sup at 1.0852 before prospect of a rebound.
[B]Data to be released today: [/B]
Swiss unemployment rate, Germany industrial output, exports, imports, trade balance, France budget balance, Italy retail sales.
Canada building permits, U.S. Redbook retail sales, wholesale sales and wholesale inventories.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]10 May 2017[/B] [I]05:45 GMT[/I]
EUR/USD - 1.0894
Despite extending corrective fall from Monday’s fresh near 6-month peak of 1.1024 (New Zealand) to 1.0864 in New York yesterday, as renewed buying above daily sup at 1.0852 has lifted price, consolidation with upside bias is in store, above 1.0931/34 would signal pullback is over and yield subsequent headway to 1.0958 but 1.0996/00 should hold.
Only a daily below 1.0852 sup aborts recent bullishness on euro and risks stronger retracement to 1.0821, then towards 1.0778 next week.
[B]Data to be released on Wednesday: [/B]
UK house price, Australia consumer confidence, China PPI, CPI, Japan leading economic indicator, France industrial output, exports, imports, trade balance, current account, Italy industrial output.
U.S. mortgage applications, import price index and export price index.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]16 May 2017[/B] [I]05:06 GMT[/I]
EUR/USD - 1.0985
Yesterday’s impressive gain to 1.0990 due to broad-based buying in the euro signals early correction from last Monday’s 6-month peak at 1.1024 has ended at 1.0840 (Thursday) and price is poised to re-test said temporary top after consolidation, break would encourage for resumption of MT uptrend towards projected target at 1.1067 later this week.
On the downside, only a daily close below 1.0934 (previous res, now sup) would ‘prolong’ broad sideways consolidation and risk stronger retracement to 1.0900.
[B]Data to be released on Tuesday: [/B]
Italy GDP, UK CPI, RPI, PPI input, PPI output, EU GDP, ZEW economic sentiment, Germany ZEW economic sentiment, current conditions.
U.S. building permits, housing starts, redbook retail sales, industrial output, capacity utilisation and manufacturing output.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]19 May 2017[/B] [I]01:40 GMT[/I]
EUR/USD - 1.1106
Despite yesterday’s stronger-than-expected decline from a fresh 6-month peak made in Asia at 1.1172 to 1.1076 in New York due to broad-based recovery in the usd, subsequent rebound suggests consolidation with upside bias is in store, above 1.1140/45 would signal pullback is over and bring subsequent re-test of 1.1172.
Only a daily close below 1.1076 would bring stronger correction of recent uptrend and yield weakness towards 1.1024 before prospect of a recovery.
[B]
Data to be released on Friday: [/B]
France unemployment, Germany PPI, EU current account, consumer sentiment, UK CPI trends and Canada retail sales.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 24 May 2017 [/B][I] 05:20 GMT[/I]
EUR/USD - 1.1183
Euro’s anticipated decline from Tuesday’s fresh 6-month peak of 1.1268 to as low as 1.1176 in New York session due to broad-based short covering in the usd ahead of release of Fed minutes later today signals long-overdue correction of MT uptrend has taken place and 1-2 days of choppy trading with downside bias remains.
However, near term oversold condition should keep price above 1.1098 sup and bring rebound later this week.
Only above 1.1248 (New York high) signals pullback is possibly over and risks re-test of 1.1268, however, daily res at 1.1300 is expected to remain intact.
[B]Data to be released on Wednesday: [/B]
Germany consumer sentiment, Swiss industrial production, Italy trade balance, U.S. monthly home price, existing home sales and Canada BoC rate decision and Fed minutes.
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time:[B] 31 May 2017[/B] [I]05:146 GMT[/I]
EUR/USD - 1.1176
Despite yesterday’s resumption of recent decline from last Tuesday’s 6-month peak at 1.1268 to 1.1110 in Europe, subsequent impressive rally to 1.1206 in New York suggests said correction has ended and consolidation with upside bias remains for further gain to 1.1235, a daily close above there would bode well for euro to bring re-test of 1.1268.
On the downside, only below 1.1140/45 dampens present bullish view and may risk weakness towards 1.1110.
Eco. calendar from the euro area countries is heavy (please refer to EI page for details).
Pay attention to speech by ECB Board member Benoit Coeure will be speak at a financial conference in Frankfurt at 07:20GMT. Then at 12:30GMT, ECB Executive Board member Sabine Lautenschlager will speak at an event in Berlin.
AceTraderFx Jun 01: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2017 05:26 GMT
EUR/USD - 1.1240
Yesterday’s anticipated rally from 1.1165 to 1.1253 suggests re-test of May’s fresh 6-month peak at 1.1268 would be forthcoming soon, break would extend MT uptrend from 1.0341 (Jan) to 1.1300.
On the downside, only failure to penetrate 1.1268 res and a daily close below 1.1206 would ‘prolong’ choppy consolidation and risk weakness towards 1.1110 later.
Data to be released on Thursday:
Swiss GDP, retail sales, Italy manufacturing PMI, GDP, France manufacturing PMI, Germany manufacturing PMI, EU manufacturing PMI, UK manufacturing PMI, house prices, mortgage approvals.
U.S. ADP employment, initial jobless claims, manufacturing PMI, ISM manufacturing PMI, and construction spending.
AceTraderFx June 06: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 06 Jun 2017 01:33 GMT
EUR/USD - 1.1267
Despite yesterday’s strong retreat to 1.1235 due to broad-based long liquidation in the euro, intra-day rebound on renewed decline in usd/yen suggests pullback from last Friday’s near 7-month peak at 1.1285 has possibly ended and price would head to next daily chart obj. at 1.1300.
However, ‘loss of upward momentum’ should cap euro below 1.1366 ahead of Thursday’s ECB meeting.
Only a daily close below 1.1235 would risk stronger retracement to 1.1202/03 before prospect of a rebound later this week.
Data to be released on Tuesday:
UK BRC retail sales, Australia current account, RBA rate decision, EU retail sales, U.S. Redbook and Canada Ivey PMI.
AceTraderFx June 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2017 05:03 GMT
EUR/USD - 1.1274
Euro’s rebound to 1.1283 yesterday suggests correction from last Friday’s near 7-month peak at 1.1285 has ended earlier at 1.01235 (Monday) and Medium Term upmove would head to next daily objective at 1.1300 after consolidation.
However, ‘loss of upward momentum’ should cap price below 1.1366 res ahead of Thursday’s ECB monetary policy meeting.
On the downside, only below 1.1235 sup would prolong choppy consolidation and risk stronger retracement to 1.1202/05 before of another rise later.
AceTraderFx Jun 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2017 02:11 GMT
EUR/USD - 1.1248
Euro is expected to range trade ahead of ECB Draghi’s press conference following yesterday’s ‘roller-coaster’ moves due to media reports of diverging ECB’s views on inflation and growth .
As long as good sup at 1.0203-05 holds, Medium Term upmove would head to 1.1300 chart obj., however, loss of upward momentum should cap price below daily res at 1.1366.
A daily close below said sup would confirm top has been made, then risk would shift to the downside for stronger retracement to 1.1165.
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.
