AceTraderFx Dec 27: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 27 Dec 2017[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1860
Despite euro’s intra-day sideways swings following early retreat from last week’s high at 1.1902 (Wednesday) to 1.1817 on Friday, as long as said reaction low holds, consolidation with upside bias remains for re-test of 1.1902, break would extend erratic upmove from 1.1718 (Dec low) to 1.1930/40, however, reckon November’s peak at 1.1961 should cap upside.
On the downside, only below 1.1817 risks stronger retracement of said upmove to 1.7767/77 before prospect of rebound later this week.
No key eco. data is due out today n with many banks’ trading books are closed for the year, year-end fund flows will definitely have a great impact on intra-day price moves.
AceTraderFx Jan 02: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 02 Jan 2018[/B] [I]06:00 GMT[/I]
EUR/USD - 1.2012
Euro’s rally last Friday above November’s 2-month top at 1.1961 to as high as 1.2028 (New York) due to broad-based usd’s weakness suggests recent upmove would resume after consolidation and yield marginal gain.
However, loss of near term upward momentum would cap price below 2017 peak at 1.2093 (September).
On the downside, only below 1.1959/61 (previous res, now sup area) signals temporary top is made and risks stronger retracement towards 1.1937 before prospect of rebound later this week.
Today is PMI day in the euro zone, Italy will kick off with Markit manufacturing PMI, then the same from France and last but not least, the same from Germany.
AceTraderFx Jan 04: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 04 Jan 2018[/B] [I]06:00 GMT[/I]
EUR/USD - 1.2006
Although yesterday’s decline from 1.2066 (AUS) to as low as 1.2002 in post-FOMC minutes New York session confirms euro’s recent strong upmove has made a temporary top at Tuesday’s 3-1/2 month peak at 1.2082 and choppy sideways trading would continue ahead of Friday’s key U.S. jobs report, reckon 1.1959/61 (previous res, now sup) would contain weakness and bring subsequent rebound.
On the downside, only a daily close below 1.1959 risks stronger correction to 1.1910/20 before prospect of rebound.
Euro area countries will release a slew of eco. data starting with Germany’s retail sales, France’s consumer confidence n CPI, EU CPI and PPI data.
AceTraderFx Jan 10: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 10 Jan 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1943
Euro’s decline on Tue from 1.1976 (Asia) to 1.1916 in New York due to broad-based selling of the euro as well as usd’s strength on soaring U.S. yields confirms recent upmove has made a top at last Thursday’s 3-1/2 month high at 1.2089 n as long as 1.1976 holds, downside bias remains for marginal weakness, however, loss of momentum should keep price above 1.1885.
On the upside, a daily close above 1.1976 needed to signal said decline has made a temporary low and outlook would turn bullish for subsequent headway towards 1.2021.
Eco. data in the euro area is very light with France’s industrial production being the only data due out, so funds flow will have a greater influence on intra-day price swings during European trading.
AceTraderFx Jan 11: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 11 Jan 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.1960
Although yesterday’s intra-day jump to 1.2018 in hectic European morning on media report China may slow or halt its purchase of U.S. Treasuries suggests correction from last Thursday’s 3-1/2 month peak at 1.2089 has possibly ended at 1.1916 (Tuesday), subsequent strong retreat should bring choppy sideways swings.
Above 1.2018 would encourage for further headway towards 1.2052 whilst below 1.1916 may risk one more fall, however, ‘loss of downward momentum’ would keep price above 1.1885.
[B]Data to be released on Thursday: [/B]
Australia retial sales, Japan conincident indicator, leading indicator.
Italy CPI, CPI (EU NORM), EU industrial production, U.S. initial jobless claims, PPI, core PPI, Canada new house price index
AceTraderFx Jan 15: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 15 Jan 2018[/B] [I]06:00 GMT[/I]
EUR/USD - 1.2202
Friday’s spectacular rally above 2017 high at 1.2093 (now sup) to a 3-year peak of 1.2218 near NY close suggests euro’s uptrend would resume after minor consolidation, however, overbought condition is likely to prevent strong gain and reckon projected res at 1.2275/80 may hod on 1st testing and yield a much-needed modest retracement later today in holiday-thinned N. American session or tomorrow.
On the downside, only below 1.2150/60 may risk stronger pullback to 1.2132/37 before prospect of another rise later this week.
With U.S. financial markets closed for a holiday n the only eco. data fm the euro area countries is EI trade balance, funds flow will have a great influence on intra-day price swings.
AceTraderFx Jan 22: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 22 Jan 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2245
Euro’s decline on Friday from 1.2295 to 1.2215 (New York) suggests further ‘choppy’ trading below last Wednesday’s fresh 3-year peak at 1.2323 would continue and despite initial higher open to 1.2274 today following U.S. govt. shutdown and Germany’s SPD voted to continue coalition talks, volatile consolidation is expected to continue.
As long as 1.2166 sup holds, another bounce towards 1.2295 is still envisaged but above is needed to bring re-test of 1.2323.
No eco. data is due out from the euro area countries except release of Germany’s Bundesbank Monthly Report during European morning.
AceTraderFx Jan 25: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 25 Jan 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2404
Yesterday’s rally above last Wed’s 3-year high of 1.2323 (now sup) to as high as 1.3415 due to broad-based usd’s decline following weak dollar comments by U.S. Mnuchin suggests recent uptrend would head to 1.2450/60 after consolidation, near term loss of upward momentum should cap price below 1.2500.
On the downside, below 1.2356 anytime signals temporary top has been made and risks stronger retracement towards 1.2323.
Ahead of the key ECB rate decision and then press conference, euro area countries will release a slew of data starting with Germany’s Gfk consumer confidence n important Ifo bussiness climate and eco. assessment, Italy’s trade balance, industrial orders n sales, so one can expect a ‘lively’ European morning session.
AceTraderFx Jan 29: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 29 Jan 2018[/B] [I]06:30 GMT[/I]
EUR/USD - 1.2401
Although euro’s strong rebound to 1.2494 on Friday suggests early pullback from Thursday’s fresh 3-year peak at 1.2538 has ended at 1.2365 on the same day, intra-day weakness in Asia suggests choppy sideways swings would continue, as long as said sup hold, prospect of another rebound remains, above 1.2450/55 would head back towards 1.2494.
Below 1.2365 would risk stronger retracement of recent uptrend towards 1.2323 before prospect of rebound.
Eco. calendar is pretty light with Germany’s import prices n Italy’s PPI being the only data due out today. ECB’s Chief Economist Praet will deliver a speech at Council of the EU in Brussels at 10:00GMT (so stay tune to his comments), ECB’s Lautenschlager and Bundesbank Board member Dombret will speak at a banking conference in FFT and lastly ECB Board member Coeure will speaking at a banking event in Paris at 16:00GMT.
AceTraderFx Jan 31: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 31 Jan 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2420
Yesterday’s intra-day rally from 1.2336 (Europe) to as high as 1.2454 in New York morning suggests euro’s early correction from last Thursdays fresh 3-year peak at 1.2538 has possibly ended and consolidation with upside bias is seen, above 1.2454 would add credence to this view and yield further headway towards 1.2494.
Only below 1.2365 prolongs choppy sideways swings and may risk weakness towards 1.2336, break would yield stronger retracement to 1.2300/05.
[B]Data due out on Wednesday: [/B]
Japan industrial production, consumer confidence index, construction orders, housing start, Australia CPI, China NBS non-manufacturing PMI, NBS manufacturing PMI.
UK Gfk consumer confidence, BRC retail sales, Germany retail sales, unemployment change, unemployment rate, Swiss UBS consumption indicator, ZEW investor sentiment, France CPI, producer prices, Italy unemployment rate, EU CPI, unemployment rate.
U.S. MBA mortgage application, ADP employment change, Chicago PMI, pending home sales, Fed interest rate decision, and Canada GDP
AceTraderFx Feb 01: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 01 Feb 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2422
Although euro’s intra-day gain to 1.2475 in New York morning suggests early correction from last Thursday’s fresh 3-year peak at 1.2538 has ended at 1.2336 (Tuesday), subsequent strong retreat to 1.2388 in post-FOMC trading on mildly hawkish Fed statement suggests choppy consolidation below 1.2538 would continue until release of Friday’s key payrolls data.
Below 1.2388 would risk weakness towards 1.2336 which is likely to hold from here and only above 1.2494 would head towards 1.2538.
Today is PMI day in the euro area counties, Italy will release Markit mfg PMI, then the same from France, Germany and the EU. ECB Chief Economist Praet will deliver a speech in Brussels at 11:15GMT.
AceTraderFx Feb 05: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 05 Feb 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2456
Despite euro’s erratic rise from last week’s 1.2336 low to 1.2522 (Thursday), Friday’s intra-day selloff to as low as 1.2409 after robust U.S. jobs data suggests further choppy trading below January’s 3-year peak at 1.2538 would continue and subsequent strong bounce to 1.2490 in New York afternoon, then intra-day weakness to 1.2425 should bring more ‘sideways swings’ before prospect of another fall to 1.2384/86.
On the upside, only above 1.2490 would risk stronger gain towards 1.2518 (Friday’s high) but 1.2538 should continue to hold from here.
Today is PMI day in the euro area countries, Italy will kick off with the release of Markit services PMI, then the same from France, Germany and then the EU. Later, EU will release Sentix investor confidence n retail sales. Lastly, ECB’s Draghi will make statement on the Draft Resolution of the European Parliament in Stasbourg, France at 16:00GMT.
AceTraderFx Feb 07: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 07 Feb 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2387
Despite yesterday’s intra-day selloff from 1.2434 (Europe) to a near 2-week trough of 1.2314 in New York morning, subsequent rally to 1.2405 due to strong bounce in U.S. equities suggests euro’s correction from Jan’s 3-year peak at 1.2538 has possibly ended and consolidation with upside bias is seen, above 1.2434 would encourage for further gain twd 1.2475 later this week.
ON the downside, only below 1.2336 would risk marginal weakness to 1.2300, loss of downward momentum should keep price above 1.2271/75.
[B]Data out on Wednesday: [/B]
New Zealand unemployment rate, Australia AIG construction index, Japan conincident indicator, leading indicator.
Germany industrial output, France current account, trade balance, imports, exports, Italy retail sales.
U.S. MBA mortgage application, ADP employment, and Canada building permits
AceTraderFx Feb 09: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
09 Feb 2018 03:30GMT
USD/JPY - 108.87… Dollar remains on the back foot after yesterday’s selloff from 109.79 (Europe) to as low as 108.59 due to active sage-haven buying of the yen on risk aversion following another day of plunge in U.S. equities where the Dow fell 1,032 points, or 4.15% to 23,860.46.
Many traders have global market indices n charts on the screens as stock market prices take centre stage. The Nikkie shed over 3% (circa 32296, down 3.22%) following o/n selloff in the Dow and dlr briefly hit intra-day low of 108.50 before staging a recovery on bargain hunting.
Expect range trading for now as Asian traders await European stock markets’ reaction at the open, price is likely to fall if the Dax and Footsie fall at the open, so trading the pair from short side in anticipation of more yen buying is favoured.
Offers are tipped at 109.00/10 with some stops above 109.20.
Bids are noted at 108.50-40 with stops reported below 108.25, more stops are touted below 108.00.
The only eco. data due out in the U.S. is wholesale inventories n sales, so all eyes are on the Dow n S&P 500, be nimble n be quick when stock indices swing around.
AceTraderFx Feb 14: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 14 Feb 2018[/B] [I]06:30 GMT[/I]
EUR/USD - 1.2358
Yesterday’s yen-led rally above 1.2314 to 1.2371 in New York signals euro’s recent correction from January’s 3-year peak at 1.2538 has possibly ended and consolidation with upside bias is seen, near term loss of upward momentum is expected to cap price at 1.2434 and bring subsequent retreat.
On the downside, expect 1.2314 to and yield marginal gain and only a daily close below there risks stronger retracement towards 1.2285 before prospect of another rise.
Today is GDP day in the euro area counties, Germany will kick off with GDP, CPI, then Italy’s GDP, the same from the EU n industrial production. Also, there is quite a no. of ECB members n European officials delivering speeches during the day, please refer to our Economic Indicators page for details.
AceTraderFx Feb 15: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 15 Feb 2018[/B] [I]07:00 GMT[/I]
EUR/USD - 1.2459
Euro’s intra-day rally in post-U.S. CPI New York session from 1.2276 to as high as 1.2465 signals early correction from Jan’s 3-year peak at 1.2538 has ended there and upside bias remains for gain to 1.2500/10, break there would encourage for re-test of 1.2538 later today or tomorrow.
Expect 1.2392 (previous res, now sup) to hold for this move and only a daily close below there ‘prolongs’ volatile consolidation and risks stronger retracement to 1.2345/55.
[B]Data to be released on Thursday: [/B]
Australia consumer confidence, employment change, unemployment rate, Japan machinery orders, industrial production, capacity utilization, machine tool orders.
France ILO unemployment rate, Italy trade balance, EU trade balance.
U.S. New York Fed manufacturing index, initial jobless claims, Philadelphia Fed Survey, PPI, Industrial production, capacity utilization, manufacturing output, NAHB housing market index
AceTraderFx Feb 20: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 20 Feb 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2406
Although euro’s anticipated decline from last Friday’s fresh 3-year peak at 1.2555 to 1.2269 in holiday-thinned North American morning Monday confirms recent uptrend has made a top there, subsequent short-covering rebound would bring consolidation before prospect of marginal weakness, loss of near term downward momentum would keep price above 1.2320/25.
On the upside, only a daily close above 1.2460 signals 1st leg of correction is over and may risk stronger retracement to 1.2485/95 before another fall later this week.
Euro area countries will release some data during European morning starting with Germany’s PPI, Germany’s ZEW eco. sentiment and current situation survey and EU’s ZEW eco. sentiment. Out-going ECB VP Constancio will participate in ECOFIN meeting in Brussels today.
AceTraderFx Feb 22: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 22 Feb 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2272
As euro has fallen sharply after yesterday’s rebound from 1.2300 to 1.2359 (post-FOMC minutes), suggesting decline from last Friday’s fresh 3-year peak at 1.2555 has once again resumed, near term loss of downward momentum would prevent steep fall today and reckon sup at 1.2206 (Feb’s bottom) would remain intact.
On the upside, only above 1.2320 signals temporary low is possibly made and would head back to 1.2359/61 but 1.2412/15 res should remain intact.
[B]Data to be released on Thursday: [/B]
France business climate, CPI (EU norm), Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy industrial orders, industrial sales, CPI, CPI (EU norm), U.K. GDP, Canada retail sales, budget balance and U.S. initial jobless claims, leading indicators, KC Fed manufacturing
AceTraderFx Feb 26: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 26 Feb 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2282
Despite euro’s intra-day sideways swings on Fri following a brief but strong rebound from Thursday’s 9-day trough of 1.2260 to 1.2352, as long as said res (reaction high) holds, consolidation with downside bias remains and below 1.2260 would extend recent fall from February’s 1.2555 peak marginally lower, however, loss of downward momentum should keep price above Feb’s bottom at 1.2206 today.
On the upside, above initial res at 1.2321 would risk stronger gain towards 1.2352 but only a firm break there needed to yield stronger correction to 1.2390/00.
Although no eco. data is due out from the euro area countries, pay attention to speech by ECB President Mario Draghi before the European Parliament’s ECON committee at 14:00GMT.
However, prior that, ECB’s Coeure will speak at 10:00GMT.
AceTraderFx Feb 27: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 27 Feb 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2330
Although euro’s decline from 1.2355 (Europe) to as low as 1.2278 in New York morning yesterday suggests early correction from last week’s low at 1.2260 has ended, intra-day rebound in Asia may bring further choppy sideways swings, as long as 1.2355 holds, re-test of 1.2260 is likely.
Loss of downward momentum should keep price above 1.2206 (February bottom).
On the upside, a daily close above 1.2355 would risk stronger retracement of early fall from February’s 3-year peak at 1.2555 to 1.2372, however, res at 1.2412/15 should cap upside.
[B]Data out on Tuesday: [/B]
France consumer confidence, Italy business confidence, consumer confidence, trade balance, Germany CPI, HICP, EU business climate, economic sentiment, industrial sentiment, service sentiment, consumer confidence