AceTraderFx Feb 28: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 28 Feb 2018[/B] [I]06:00 GMT[/I]
EUR/USD - 1.2236
Yesterday’s selloff from 1.2346 (Europe) and then intra-day break of last week’s low at 1.2260 to 1.2221 after hawkish testimony by new Fed Chairman J. Powell confirms euro’s decline from Feb’s fresh 3-year peak at 1.2555 has finally resumed and re-test of 1.2206 target (February low) is now envisaged after consolidation.
However, a daily close below there needed to retain bearishness for subsequent weakness towards 1.2166.
On the upside, only a daily close above 1.2260 would be the 1st signal temporary low is in place, then risk would shift to the upside for stronger retracement to 1.2300/10.
[B]Data out on Wednesday : [/B]
U.K. Gfk consumer confidence, Germany Gfk consumer confidence, unemployment change, unemployment rate, Swiss UBS consumption indicator, KOF indicator, ZEW investor sentiment, France consumer spending, GDP, CPI, producer prices, Italy CPI, EU CPI, core CPI.
U.S. MBA mortgage application, GDP annualized, GDP deflator, Core PCE prices, PCE prices, Chicago PMI, pending home sales, and Canada producer prices
AceTraderFx Mar 02: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 02 Mar 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2276
Despite yesterday’s anticipated resumption of recent decline from February’s 1.2555 peak to a 7-week trough of 1.2155, subsequent rally due to broad-based usd’s weakness on fear of global trade war following news of Trump would impose tariffs on U.S. steel and AL imports suggests long-awaited correction of aforesaid fall has occurred and consolidation with upside bias is seen.
However, reckon res at 1.2355 (this week’s high on Monday) should cap present rise.
On the downside, only below 1.2222 signals 1st leg of correction is over and may risk stronger pullback to 1.2190/00 before prospect of another rise next week.
Euro area countries will release a slew of eco. data during European morning (pls refer to EI section for details) n ECB Board member Mersch will give a speech at a financial conference in Prague at 08:10GMT.
AceTraderFx Mar 05: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 05 Mar 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2330
Despite extending Fri’s gain to 1.2365 in Australia today, intra-day strong retreat to 1.2300 ahead of Tokyo open following news of Italian election has delivered a hung parliament result suggests upmove from last Thursday’s 7-week bottom at 1.2155 has made a temporary top and choppy sideways swings are in store, as long as 1.2288 holds, marginal gain is still envisaged but 1.2412/15 res should remain intact.
On the downside, below 1.2288 would risk stronger retracement of aforesaid rise towards 1.2252 before prospect of a rebound later today or tomorrow.
On the eco. data front, today is PMI day in the euro area countries, Italy will kick off with Markit servcies PMI, then the sale fm France, Germany n the EU, EU will later release Sentix investor confidence index n retail sales.
AceTraderFx Mar 09: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 09 Mar 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2304
Despite euro’s brief jump to a fresh 2-1/2 week high of 1.2446 on market reaction to ECB’s removal of its usual easing bias statement, subsequent selloff during Draghi’s press conference to as low as 1.2299 suggests early rally from last Thursday’s 7-week trough at 1.2155 has made a top and choppy trading with downside bias is seen ahead of key U.S. jobs data.
As long 1.2365/70 holds, further weakness is envisaged but reckon 1.2222 would hold on 1st testing. Only a daily close above 1.2400 would bring re-test of 1.2446 next week.
[B]Data to be released on Friday: [/B]
New Zealand retail sales, China PPI, CPI, Japan BoJ interest rate decision, machine tool orders.
Germany industrial output, current account, exports, imports, France budget balance, industrial output, U.K. construction output, industrial output, manufacturing output, trade balance non-EU, NIESR GDP estimate, EU trade balance, employment.
U.S. non-farm payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales, and Canada employment change, unemployment rate
AceTraderFx Mar 12: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 12 Mar 2018[/B] [I]06:00 GMT[/I]
EUR/USD - 1.2312
Despite extending decline from last Thur’s 2-1/2 week high of 1.2446 (post-ECB top) to 1.2273 after release of robust U.S. payrolls (but tepid wage growth) Fri, subsequent rebound to 1.2334 on short-covering suggests temporary low has been made and expect range trading initially before said fall extends marginal weakness, loss of downward momentum should keep euro above 1.2222.
On the upside, only a daily close above 1.2365 signals correction from 1.2446 has possibly ended and yield stronger gain to 1.2400/10.
[B]Data out today: [/B]
Australia market holiday, Japan business survey index, machine tool orders, and U.S. Federal budget on Monday
AceTraderFx Mar 14: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 14 Mar 2018[/B] [I]06:30 GMT[/I]
EUR/USD - 1.2391
Yesterday’s break above 1.2365/69 res to 1.2407 due to broad-based usd’s weakness after Trump fired Sec. of State Tillerson suggests early correction from last Thursday’s 2-1/2 week peak at 1.2446 has ended at 1.2273 (Friday) and consolidation with upside bias remains for gain towards 1.2446 but above needed to head to 1.2475/80 later.
Only below 1.2340/45 prolongs choppy trading below 1.2446 and risks stronger retracement to 1.2315.
[B]Data to be released on Wednesday: [/B]
New Zealand current account, Australia consumer sentiment, Japan machinary orders, China industrial output, retail sales.
Germany CPI, HICP, Italy retail sales, EU industrial production.
U.S. MBA mortgage application, PPI, core PPI, retail sales, retail sales ex-autos, business inventories
AceTraderFx Mar 15: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 15 Mar 2018[/B] [I]06:00 GMT[/I]
EUR/USD - 1.2381
Although yesterday’s initial gain to 1.2413 suggests euro’s correction from last Thursday’s 2-1/2 week peak at 1.2446 has ended earlier at 1.2273 (Friday), subsequent retreat to 1.2347 in New York would bring sideways trading before prospect of another rise, above 1.2413 would encourage for gain towards 1.2446.
On the downside, only below 1.2347 dampens bullish bias and may risk stronger retracement to 1.2315 but reckon 1.2291 should contain weakness.
[B]Data to be released on Thursday: [/B]
France CPI, Swiss producer import price, SNB interest rate decision, and U.S. initial jobless claims, New York Fed manufacturing index, import price, export price, Philadelphia Fed survey, NAHB housing market index
AceTraderFx Mar 20: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 20 Mar 2018[/B] [I]06:00 GMT[/I]
EUR/USD - 1.2344
Euro’s impressive rally from Mon’s 2-week trough of 1.2258 (Europe) to as high as 1.2359 after report of ECB rate-hike talk suggests early erratic fall from Mar’s high at 1.2446 has ended and upside bias is seen for further gain, however, as broad outlook remains consolidative ahead of FOMC announcement tomorrow, reckon 1.2413 would cap present rise.
Only a daily close below 1.2300 would shift risk to downside for another prove at 1.2258/60 sup.
Euro area countries will release a slew of eco. data starting with Germany’s PPI, Germany’s ZEW eco. sentiment n current conditions, then EU will release ZEW eco. sentiment. Later in NY morning, EU will release consumer confidence.
AceTraderFx Mar 23: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 23 Mar 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2335
Although yesterday’s stronger-than-expected decline from 1.2389 to as low as 1.2286 (NY) signals early upmove from Tuesday’s fresh 2-week bottom at 1.2240 has made a top, intra-day selloff in dlr/yen is likely to pressure usd broadly and consolidation with upside bias remains, above 1.2359 would encourage for subsequent re-test of 1.2389.
On the downside, only a daily close below 1.2286 prolongs recent volatile sideways swings below March’s 1.2446 peak and may risk weakness towards 1.2240 next week.
No important euro area eco. data is due out today but we have EC meeting where EU’s Barnier will speak of Brexit transition, EU President Juncker and EC’s Tusk will have hold a press conference at 12:00GMT, so stay tune.
AceTraderFx Mar 26: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 26Mar 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2356
Euro’s erratic rise to 1.2373 on Friday suggests pullback from last week’s high at 1.2389 (Thursday) has ended and consolidation with upside bias remains for gain to 1.2400, only a daily close above 1.2413 would retain bullishness for subsequent headway towards March’s peak at 1.2446.
On the downside, only below 1.2286 ‘prolongs’ recent choppy sideways swings and may risk weakness to 1.2240/50.
Europe has moved its clock forward by one hour and Germany will kick off with import price and then Italy’s trade balance Buba President and ECB board member wil speak at 09:30GMT and then he and ECB’s Nowotny will be sat 10:30GMT.
Then at 13:00GMT, ECB’s Nouy will speak at European Parliament’s Eco. and Monetary Affairs Committee.
AceTraderFx Mar 28: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 28 Mar 2018[/B] [I]10:30 GMT[/I]
EUR/USD - 1.2412
Despite euro’s resumption of recent upmove from 1.2155 (March low) to a 5-week high of 1.2477, intra-day cable-led sharp fall to 1.2373 at New York open suggests further choppy trading below February’s 3-year peak at 1.2555 would continue as long as 1.2440/50 holds, downside bias remains for stronger retracement of said upmove to 1.2310/20.
Only a daily close above 1.2440 signals pullback over and may head to 1.2500/10 later.
[B]Data to be released on Wednesday: [/B]
New Zealand ANZ business outlook, ANZ activity outlook, Germany Gfk consumer confidence.
France consumer confidence, Italy industrial orders, industrial sales, Swiss ZEW investor sentiment, U.K. CBI distributive trades.
U.S. MBA mortgage application, GDP annualized final, GDP deflator final, core PCE price final, PCE price final, goods trade balance, wholesales inventories, pending home sales.
AceTraderFx Apr 06: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 06Apr 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2253
Although euro has rebounded in Australia on selloff in dlr/yen following Trump’s comments of imposing extra tariffs on China after yesterday’s decline to a 1-month trough at 1.2218, as long as res area at 1.2283/90 holds, marginal weakness is likely, loss of downward momentum should keep price above 1.2175/80.
A daily close above 1.2290 signals low is in place, then outlook would turn bullish for stronger retracement to 1.2315, then 1.2344.
The euro area countries will release a slew of eco. data starting with Germany’s industrial output, France’s trade balance. ECB Board member Coeure will at a conference in Italy at 06:45GMT.
AceTraderFx Apr 09: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 09 Apr 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2273
Euro’s intra-day rally from last Friday’s 1-month bottom of 1.2215 (Europe) to 1.2291 in post-NFP New York session due to broad-based usd’s weakness on continued U.S/China trade tension and falling U.S. stocks suggests recent decline has made a temporary low and consolidation with upside bias is seen, above 1.2315 would add credence to this view and bring stronger retracement towards 1.2344.
On the downside, only below 1.2236/40 would dampen bullish prospect of further gain and may risk weakness to 1.2215/20.
On the eco. data front, Germany will release imports n exports data. trade balance n current account, then the EU will release Sentix investor confidence index. ECB VP Constancio will speak at the ECON Committee in Brussels at 13:00GMT n then at 16:45GMT, ECB Board member and chief economist Praet will participate in a meeting of the European Finance Forum in Frankfurt.
AceTraderFx Apr 16: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 16 Apr 2018[/B] [I]06:30 GMT[/I]
EUR/USD - 1.2332
Although euro has shown muted reaction to U.S./allied missile strikes on Syria in early trading on Monday, as long as sup at 1.2300 holds, consolidation with upside bias remains and above 1.2370/80 would encourage for re-test of last week’s high at 1.2397 (Wed).
Only below 1.2300 risks stronger retracement of euro’s recent rise from March’s 1.2215 bottom, however, reckon sup at 1.2260 would contain weakness.
Eco. calendar is very light with Germany Mar wholesale price index being the only release due out at 06:00GMT. Later today, ECB Board member Praet will make a keynote dinner speech at the 2018 NABE International Symposium in Madrid, Spain.
AceTraderFx Apr 17: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 17 Apr 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2387
Euro’s intra-day rally from 1.2324 (Asia) to 1.2395 in New York on Monday due to usd’s broad-based weakness suggests early pullback from last week’s high at 1.2397 has ended at 1.2300 (Thursday) and gain to 1.2440/45 is envisaged after consolidation.
Overbought readings on hourly indicators should cap price below March’s peak at 1.2477.
Only below 1.2324 prolongs choppy consolidation and may risk weakness towards 1.2300.
On the data front, Italy will kick off with final CPI, Germany’s will release ZEW eco. sentiment n current conditions, then EU’s ZEW eco. sentiment and finally Italy’s trade balance. German FinMin Scholz will speak at 0830GMT.
AceTraderFx Apr 18: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 18 Apr 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2370
Despite euro’s initial gain to a near 3-week high of 1.2414 in European morning, as intra-day selloff in cable had led to broad-based usd’s rally in New York and knocked price to 1.2337 signals temp. top has been made and choppy range trading with downside bias is seen for another corrective fall, reckon sup at 1.2300 would remain intact and yield another rise later this week.
Above 1.2414 would extend upmove from 1.2215 towards 1.2446.
However, loss of upward momentum should cap price below 1.2477.
[B]Data to be released on Wednesday : [/B]
Japan exports, imports, trade balance, China house price.
Germany wholesale price index, Italy industrial orders, industrial sales, U.K. DCLG house price index, core CPI, CPI, RPI, core RPI, PPI input, PPI output, PPI core output, EU HICP final, core HICP.
Canada BoC rate decision, and U.S. MBA mortgage application
AceTraderFx Apr 19: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 19 Apr 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2375
Although yesterday’s rally to 1.2397 signals euro’s 1st leg of correction from Tuesday’s 2-week high at 1.2414 has ended at 1.2337, as long as 1.2397 holds, choppy sideways swings would continue before another fell to 1.2300/10.
Above 1.2397 would bring re-test of 1.2414, however, loss of upward momentum should cap price below March’s peak at 1.2477 this week.
[B]Data to be released on Thursday: [/B]
New Zealand CPI, Australia Westpac leading index, employment change, unemployment rate, Japan tertiary industry index, EU current account, U.K. retail sales, core retail sales, initial jobless claims, leading indicator, and Canada ADP employment change
AceTraderFx Apr 20: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 20 Apr 2018[/B] [I]06:30 GMT[/I]
EUR/USD - 1.2338
Although yesterday’s erratic rise to 1.2400 signals euro’s 1st leg of correction from Tuesday’s 2-week high at 1.2414 has ended at 1.2337, subsequent selloff to 1.2229 on broad-based usd’s strength in New York suggests choppy sideways swings would continue and may head to 1.2300/10 before rebound.
Only above 1.2400 would risk re-test of 1.2414, however, loss of upward momentum should cap price below 1.2446.
On the data front, Germany will release producer price index n the later in New York, we have EU’s consumer confidence. German FinMin Scolz and ECB Board member Weidmann will speak at 11:30GMT.
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AceTraderFx Apr 23: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 23 Apr 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2266
Friday’s weakness to 1.2250 due to rising U.S. yields and renewed usd’s strength suggests decline from last week’s high at 1.2414 would resume after consolidation, near term loss of downward momentum should prevent steep drop and reckon April’s bottom at 1.2215 would remain intact, bring subsequent rebound.
On the upside, only above 1.2324/29 (previous sup, now res) would signal said fall has made a low and risk stronger gain to 1.2353/58 but 1.2395/00 should cap upside.
Today is PMI day in the euro area countries, France will kick off with Markit mfg and services PMIs, then the same from Germany and then the EU. Germany will release Bundesbank monthly report and ECB Executive Board member Coeure will participate in a financial conference in Frankfurt at 14:00GMT.
AceTraderFx Apr 26: Daily Recommendations on Major -EUR/USD
[B]DAILY MARKET OUTLOOK on Major [/B]
Update Time: [B] 26 Apr 2018[/B] [I]05:30 GMT[/I]
EUR/USD - 1.2173
Euro’s intra-day recovery after yesterday’s resumption of recent decline to a fresh 7-week trough at 1.2160 (New York) suggests sideways trading may be seen above key daily sup at 1.2155 (March low) ahead of ECB’s rate decision.
As long as 1.2218/20 holds, re-test of 1.2155 is likely but a firm break there needed to extend subsequent weakness towards 1.2093.
On the upside, above 1.2220 signals temporary low is made and would risk stronger retracement to 1.2250, break, 1.2300.
Ahead of ECB announcement at 11:45GMT and presser at 12:30GMT, Germany will release Gfk May consumer confidence.
Then at 16:20GMT, ECB’s Nouy will speak at a conference