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.
AceTraderFx Aug 01: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 01 Aug 2017 02:28 GMT
EUR/USD - 1.1825
Yesterday’s impressive rally to a fresh 29-month peak of 1.1845 in New York session due to renewed broad-based usd’s weakness suggests recent uptrend would head to 1.1880/85 after consolidation.
Near term loss of momentum is likely to limit upside to 1.1900/10 and risk has increased for a minor correction to take place.
A daily close below 1.1777 (previous high, now sup) anytime would confirm temporary top has been made, risk stronger retracement towards 1.1724.
Data release for Tuesday:
Italy, France, Germany Markit Manufacturing PMI for Jul
Germany Unemployment Change/Rate for Jul
EU Markit Manufacturing PMI for Jul & GDP Prelim YY & QQ for Q2.
AceTraderFx Aug 02: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 02 Aug 2017 02:00GMT
EUR/USD - 1.1814
Although euro’s intra-day retreat from Tuesday’s fresh 2-1/2 year high at 1.1846 (AUS) signals temporary top has been made, as 1.1786 has contained weakness in New York morning, consolidation with upside bias is seen before prospect of marginal gain, loss of upward momentum is likely to limit gain to 1.1875/80 and bring correction.
On the downside, only a daily close below 1.1777 (previous res, now sup) would risk stronger retracement towards 1.1724.
Data to be released on Wednesday:
New Zealand unemployment rate, employment change, labour cost, Australia building permits, private house approvals, Japan consumer confidence index.
U.K. BRC shop price index, Swiss consumer confidence, retail sales, manufacturing PMI, EU Non-monetary policy ECB meeting, PPI, U.K. Markit construction PMI, and U.S. MBA mortgage application, ADP employment change, ISM New York index.
AceTraderFx Aug 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 08 Aug 2017 02:20 GMT
EUR/USD - 1.1800
Despite euro’s intra-day selloff in post-NFP New York morning to 1.1729 last Friday, subsequent rebound to 1.1814 in Europe yesterday signals 1st leg of correction from Wednesday’s fresh 2-1/2 year peak at 1.1909 has ended and 1-2 days of sideways trading is in store, reckon 1.1831/41 would cap present recovery and yield retreat.
Below 1.1764 (Monday’s low) would signal recovery is over but break of 1.1924/29 sup needed to bring stronger correction towards 1.1681 later this week.
Data to be released on Tuesday:
U.K. BRC retail sales, NIESR GDP estimate, Japan bank lending, current account, trade balance, eco watchers outlook, Australia NAB business confidence, NAB business conditions, China exports, imports, trade balance, Swiss unemployment rate, Germany exports, imports, trade balance, current account, France exports, imports, trade balance, current account, budget balance, Canada housing starts, and U.S. redbook, JOLTS job openings.
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.
DAILY MARKET OUTLOOK on Major