[B]AceTraderFx Nov 07: Daily Recommendations on Major -EUR/USD [/B]
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]07 Nov 2017[/B] [I]05:20 GMT[/I]
EUR/USD - 1.1611
Although euro’s selloff from last Friday’s post-NFP high at 1.1691 to 1.1581 on Monday signals correction from October’s 3-month trough at 1.1575 has ended, subsequent rebound in New York session due to broad-based usd’s weakness suggests further choppy sideways swings would continue before Medium Term decline resumes.
As long as 1.1660/70 holds, re-test of 1.1575 is envisaged later, break would head to 1.1540/50.
Only above 1.1670 may risk gain towards 1.1691.
Germany will release industrial production, then Italy’s retail sales n later the same fm the EU.
Today there is EU ECOFIN meeting in Brussels (ECB’s Constancio will participate at the meeting). At 09:00GMT, ECB’s Draghi will giving a welcome address at an ECB forum in Frankfurt, then ECB’s Nouy will speak at the same venue at 09:15GMT, then ECB’s Angeloni at 10:00GMT, then ECB’s Latenschlager at 14:30GMT.
AceTraderFx Nov 09: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]09 Nov 2017[/B] [I]05:20 GMT[/I]
EUR/USD - 1.1592
Although euro’s rebound from Tuesday’s fresh 3-month trough at 1.1554 suggests recent downtrend has made a temporary low, as 1.1611 has capped yesterday’s rebound, consolidation with downside bias is retained, below 1.1570/75 would bring one more fall but ‘loss of downward momentum’ should keep price above 1.1512.
A daily close above 1.1624 res would risk stronger retracement to 1.1660/70, however, reckon res at 1.1691 should cap upside and yield retreat.
[B]News to be released on Thursday: [/B]
New Zealand interest rate decision, Japan trade balance, current account, machinery orders, tertiary industry index, eco watchers outlook, eco watchers current.
U.K. RICS housing survey, China PPI, CPI, Swiss unemployment rate, Germany exports, imports, trade balance, current account, Canada new housing price index and U.S. initial jobless claims, wholesale inventories, wholesale sales.
AceTraderFx Nov 13: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]13 Nov 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1650
Euro’s erratic rise to 1.1678 last Friday due to renewed usd’s weakness suggests recent decline from 1.2093 (September) has made a temporary low at Tuesday’s fresh 3-month trough at 1.1554 and subsequent retreat would bring consolidation before marginal gain towards next chart obj. at 1.1691, loss of upward momentum would cap price below 1.1726 and yield decline.
On the downside, below 1.1616 (previous res, now sup) signals 1st leg of correction is over and may risk weakness to 1.1579/81.
Similar to the U.S., no eco. data is due out from the euro area countries, however, ECB’s Vice President Constancio will make a speech in Frankfurt at 9:00GMT.
AceTraderFx Nov 17: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B]17 Nov 2017[/B] [I]06:00 GMT[/I]
EUR/USD - 1.1815
Euro’s intra-day rise above 1.1800/05 strongly suggests early retreat from Wed’s 3-week high at 1.1861 has ended yesterday at 1.1757 and recent upmove from 1.1554 would head towards next daily objective at 1.1880 (October high) before prospect of correction due to loss of upward momentum.
On the downside, only below 1.1757 would dampen present bullish scenario on euro and may risk stronger retracement towards 1.1726.
Eco. data due out today from the EU are current account and construction output.
Today the EU Economic and Financial Affairs Council will have a meeting in Brussels, ECB President Draghi, Bundesbank President Weidmann and Deutsche Bank CEO Cryan will speak at the Frankfurt European Banking Congress “Europe into a New Era ? How to Seize the Opportunities” in Frankfurt, Germany at 08:30GMT.
AceTraderFx Nov 21: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 21 Nov 2017[/B] [I]04:00 GMT[/I]
EUR/USD - 1.1743
Despite shrugging initial market concerns on breakdown in German coalition talks and staging an intra-day rally from 1.1723 to 1.1809 (Europe), euro’s subsequent fall back to 1.1728 in New York on broad-based usd’s strength suggests choppy trading below last week’s high at 1.1861 would continue, below 1.1723 would bring stronger retracement of recent upmove towards 1.1691.
Only above e.1809 aborts daily downside bias and risks gain to .1822, break may head to 1.1840/50.
[B]Data to be released on Tuesday:[/B]
Japan all industry activity index, Swiss trade balance, exports, imports, U.K. PSNB, PSNCR, CBI industry trends survey, New Zealand GDT price index, Canada wholesale sales, and U.S. national activity index, redbook, existing home sales.
AceTraderFx Nov 22: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 22 Nov 2017[/B] [I]04:00 GMT[/I]
EUR/USD - 1.1739
Despite yesterday’s resumption of decline from last week’s high at 1.1861 to 1.1714 in New York morning, subsequent minor rebound suggests initial consolidation would take place and above 1.1758 (European high) would bring stronger retracement to 1.1770/80 before prospect of one more fall, loss of downward momentum is likely to limit weakness to 1.1691/95.
Only above 1.1809 (Monday high) suggests said correction is over and may head towards 1.1850/60 later this week.
As no euro area eco. data is due out, European traders may well respect Tuesday’s 1.1714-1.1758 range until release of U.S. eco. data later in the day.
AceTraderFx Nov 23: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 23 Nov 2017[/B] [I]06:00 GMT[/I]
EUR/USD - 1.1818
Yesterday’s anticipated rally to 1.1827 due to broad-based usd’s weakness after dovish FOMC minutes suggests correction from last week’s high at 1.1861 has ended at 1.1714 (Tuesday) and re-test of said temporary high is envisaged after consolidation, break would encourage for subsequent headway to 1.1880 (October high).
On the downside, only below 1.1773 would prolong choppy sideways trading and may risk stronger retracement to 1.1733/36 before prospect of another bounce.
Today is PMI day n euro area countries will release a slew of eco. data starting with Germany’s GDP, France’s bus. climate, Markit mfg and services PMIs, then the same fm Germany and the EU plus Italy’s trade balance.
Pay attention to release of ECB’s minutes at 12:30GMT, before that, ECB’s Chief Economist Praet will speak at a conference in Luxembourg at 08:35GMT and later ECB’s Board member Coeure will speak in Paris.
AceTraderFx Nov 27: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 27 Nov 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1923
Euro’s impressive rally on Friday above October’s 1.1880 high (now sup) to a 2-month peak of 1.1944 suggests recent strong upmove would head to 1.980/90 after consolidation, loss of near term upward momentum is likely to cap price below 1.2000 and risk has increased for a much-needed minor retracement to take place.
On the downside, expect 1.1880 to hold and yield subsequent rise and only below there confirms temporary top is made, risks stronger correction towards 1.1837.
EZ eco. calendar is pretty light with Italy’s business and consumer confidence bring the only data due out.
There is an EU Foreign Affairs Council meeting today and ECB’s Vice President Constancio will participate in a panel discussion in FFT at 11:15GMT.
AceTraderFx Nov 28: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 28 Nov 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1905
Despite yesterday’s resumption of recent strong upmove to a fresh 2-month peak of 1.1961 in New York morning, subsequent stronger-than-expected decline to 1.1891 near Monday’s close suggests temporary top has been made and 1-2 days of consolidation is in store.
As long as 1.1861 (previous res, now sup) holds, re-test of 1.1961 is envisaged but reckon 1.2005 should cap upside. Below 1.1861 may risk stronger correction towards 1.1937 before prospect of rebound.
Germany will release Gfk consumer confidence and import prices, then France’s consumer confidence during European morning.
AceTraderFx Nov 29: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 29 Nov 2017[/B] [I]06:00 GMT[/I]
EUR/USD - 1.1843
Yesterday’s intra-day selloff from 1.1920 (Europe) to as low as 1.1828 in New York afternoon due to active selling of euro vs sterling following media reports a Brexit divorce deal has been struck confirms recent upmove from November’s 1.1554 has made a top at 1.1961 (Monday) and as long as 1.1875/85 holds, stronger retracement towards 1.1813 is likely, oversold condition would keep price above 1.1790/00.
A daily close above 1.1875 signals pullback is possibly over and yield stronger gain towards 1.1920.
[B]Data to be released on Wednesday: [/B]
Japan retail sales, Swiss UBS consumption indicator, ZEW investor sentiment, France consumer spending, GDP, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, and U.S. MBA mortgage application, GDP, PCE, pending home sales, Fed’s beige book.
AceTraderFx Nov 30: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 30 Nov 2017[/B] [I]06:00 GMT[/I]
EUR/USD - 1.1861
Although euro’s intra-day rebound from yesterday’s 1.1817 (New York) low suggests decline from Monday’s 2-month peak at 1.1961 has finally made a temporary low there and consolidation with initial upside bias is in store, reckon 1.1920 res would cap present rise and yield retreat.
On the downside, below 1.1828 would extend marginal weakness weakness to 1.1800/05.
However, loss of downward momentum should keep price above 1.1770/75.
AceTraderFx Dec 05: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 05 Dec 2017[/B] [I]06:30 GMT[/I]
EUR/USD - 1.1874
Despite yesterday’s weakness to 1.1830 (New York) on usd’s broad-based strength due to market optimism on U.S. tax overhaul, subsequent rebound on profit taking in the usd suggests euro would continue to ‘gyrate’ inside recent broad range of 1.1961-1.1809 range with upside bias, above 1.1900 would add credence to this view and may head back towards 1.1940.
On the downside, only below last week’s 1.1809 low would risk stronger correction of recent upmove to 1.1770/75 before prospect of a recovery later this week.
Today is PMI day, Italy will release Markit services PMI, then the same from France, Germany and the EU.
EU will also release retail sales. Last but not least, Buba President n ECB Board member Weidmann will at a conference in FFT at 16:30GMT.
AceTraderFx Dec 06: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 06 Dec 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1827
Euro’s intra-day rebound after yesterday’s brief break of last week’s low at 1.1809 (New York) suggests range trading is in store initially, a firm break above 1.1840/45 would signal recent decline from 1.1961 has made a low there, then stronger retracement to 1.1877/78 and later 1.1900 would follow.
On the downside, below 1.1801 would risk marginal weakness, however, loss of downward momentum would keep price above 1.1770/75 and bring strong recovery.
[B]Data to be released on Wednesday: [/B]
Australia GDP, Germany industrial orders, Swiss CPI, U.S. MBA mortgage application, ADP employment change, nonfarm productivity, and Canada BoC rate statement, BoC interest rate decision.
AceTraderFx Dec 08: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 08 Dec 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1768
Although yesterday’s intra-day wild swings ended with euro’s resumption of recent decline to a 2-week low at 1.1772 near New York close after early brief rebound to 1.1814, loss of downward momentum would prevent steep fall today ahead of release of key U.S. jobs data and reckon daily sup at 1.1714 would remain intact.
On the upside, a daily close above 1.1814 signals decline from 1.191 has made a temp. low, then stronger gain to 1.1848 and later to 1.1877/78 would follow.
Eco. calendar in the euro area is pretty light with Germany’s trade balance and France’s industrial output being the only the data due out but all eyes are on U.S. payrolls number.
AceTraderFx Dec 12: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 12 Dec 2017[/B] [I]05:00 GMT[/I]
EUR/USD - 1.1777
Despite extending gain from last Friday’s near 3-week trough of 1.1730 to 1.1812 in New York morning, euro’s subsequent retreat suggests consolidation with downside bias is in store, below 1.1746/50 would signal correction is over and yield subsequent weakness towards next daily chart sup at 1.1714.
Only a daily close above 1.1814 res would risk stronger retracement to 1.1848, then 1.1877/78 before prospect of another fall later this week.
[B]Data to be released on Tuesday: [/B]
Japan CGPI, tertiary industry index, Australia NAB business conditions, NAB business confidence, house price.
France non-farm payrolls, U.K. DCLG house price, CPI, core CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output, EU ZEW economic sentiment, Germany ZEW economic sentiment, ZEW current conditions.
U.S. PPI, core PPI, redbook, federal budget.
AceTraderFx Dec 13: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 13 Dec 2017[/B] [I]05:50 GMT[/I]
EUR/USD - 1.1747
Despite euro’s intra-day recovery after yesterday’s resumption of recent decline to a 3-week trough of 1.1718, as long as 1.1764/65 (previous sup, now res) holds, outlook remains mildly bearish for test of next daily sup at 1.1714, loss of downward momentum would keep price above 1.1678 and bring correction.
A daily close above 1.1793 signals decline from 1.1961 (November) has made a low and risk stronger gain to 1.1812/14, then 1.1848.
Euro area countries will release a slew of eco. data starting with Germany’s final CPI data for November and wholesale price, then Italy’s industrial production, then the same from the EU and employment data.
AceTraderFx Dec 15: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 15 Dec 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1788
Although euro’s anticipated resumption of upmove from Tie’s 3-week low at 1.1718 to 1.1863 in post-ECB suggests early correction fm Nov’s peak at 1.1961 has ended, subsequent strong retreat to 1.1771, then 1.1765 today signals choppy sideways swings are in store b4 prospect of another rise next week.
Only below 1.1730 dampens bullishness on euro an risks re-test of 1.1714/18 sup.
[B]Data to be released on Friday: [/B]
Japan Tankan big manufacturing index, Tankan big manufacturing outlook DI, Tankan big non-manufacturing index, Tankan big non-manufacturing DI, Tankan small manufacturing index, Tankan small manufacturing outlook DI, Tankan small non-manufacturing index, Tankan small non-manufacturing outlook DI.
EU trade balance, Canada manufacturing sales, and U.S. New York Fed manufacturing, industrial production, capacity utilization, manufacturing output.
AceTraderFx Dec 19: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 19 Dec 2017[/B] [I]06:00 GMT[/I]
EUR/USD - 1.1782
Although yesterday’s impressive rally from 1.1738 (Australia) to as high as 1.31834 in New York morning due to profit-taking in USD ahead of U.S. tax bill vote suggests choppy consolidation above last week’s bottom at 1.1718 would continue, subsequent retreat would bring sideways swings in Asia and Europe.
As long as sup area at 1.1730/38 holds, another bounce to 1.1834 is still envisaged, above would encourage for re-test of 1.1863.
Below 1.1730 would shift risk to downside for weakness towards 1.1714/18.
On the eco data front, Germany will release Ifo data and then EU’s labour cost and construction output.
ECB’s Council member Hansson will speak at a conference at 09:00GMT.
AceTraderFx Dec 20: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 20 Dec 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1843
Euro’s intra-day erratic rise above Mon’s 1.1834 high to 1.1849 due to broad-based usd’s retreat and rising euro bond yields suggests re-test of last week’s high at 1.1861 would be forthcoming soon where a break there would extend recent upmove from December’s trough at 1.1718 to 1.1890/00.
On the downside, only below 1.1776/77 sup signals temporary top is made and may risk stronger retracement towards 1.1738 but 1.1718 should remain intact.
[B]Data to be released on Wednesday: [/B]
Germany producer prices, EU current account, U.K. CBI distributive trades.
Canada wholesale sales, budget balance and U.S. MBA mortgage application, existing home sales.
AceTraderFx Dec 21: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 21 Dec 2017[/B] [I]06:00 GMT[/I]
EUR/USD - 1.1873
Yesterday’s rally above last week’s high at 1.1863 to 1.1902 in New York morning due partly to rising German bond yields confirms recent upmove from December’s 1.1718 low has resumed and subsequent retreat would bring consolidation before marginal gain, loss of upward momentum should cap price below November’s peak at 1.191 today.
On the downside, a firm break of 1.1849 would be the signal temporary top is made, then risk is seen for stronger retracement to 1.1829, then 1.1806.
Eco. calendar in the euro area countries is very thin with France’s business climate and EU consumer confidence being the only 2 releases due out, so pay attention to German bond yields and U.S. eco. data later in the day.