AceTraderForex Apr 22: Daily Market Outllook on Major -EUR/USD

Trading Discussion Currencies
775

AceTraderFx Jan 07: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jan 2020 03:30GMT

EUR/USD - 1.1193
Euro’s gain to 1.1206 (Europe) on Monday suggests early correction from last Tuesday’s 4-1/2 month peak at 1.1239 has ended at 1.1126 on Friday and consolidation with upside bias remains for gain towards said temporary top but break there needed to extend recent upmove to next chart objective to 1.1185 later this week.

Only a daily close below 1.1180 suggests choppy trading below 1.1239 would continue and risk weakness to 1.1153/58 but reckon 1.1126 should remain intact.

Data to be released on Tuesday :
Japan services PMI, Australia ANZ job advertisements, New Zealand GDT price index.
Swiss CPI, Italy consumer price, CPI (EU norm), EU HICP, core HICP, retail sales.
U.S. international trade, goods trade balance, redbook, durables ex-defense, durable goods, durables ex-transport, ISM manufacturing PMI and Canada trade balance, exports, imports, Ivey PMI.

776

AceTraderFx Jan 08: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 08 Jan 2020 03:30GMT

EUR/USD - 1.1162
Although euro’s decline from 1.1206 (Mon) to 1.1134 yesterday suggests further choppy trading below last Tuesday’s 4-1/2 month peak at 1.1239 would continue, below 1.1126 (Fri’s reaction low) needed to bring stronger retracement of medium-term uptrend towards 1.1067 later this week.

On the upside, only above 1.1206 signals pullback from said Dec’s high has ended, then re-test of this key res would be seen.

Data to be released on Wednesday:
Australia building permits, Japan consumer confidence.
Germany industrial orders, France consumer confidence, current account, trade balance, imports, exports, UK Halifax house prices, EU economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. MBA mortgage application, ADP national employment.

777

AceTraderFx Jan 09: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jan 2020 03:30GMT

EUR/USD - 1.1111
Yesterday’s break of last week’s 1.1126 low confirms euro’s recent decline from December’s 4-1/2 month peak at 1.1239 to correct medium-term upmove has once again resumed and further weakness is envisaged after consolidation, loss of momentum is expected to keep price above 1.1067 sup and bring rebound.

On the upside, only a daily close above 1.1168 signals temporary low is made, however, pivotal res at 1.1206 should remain intact.

Data to be released on Thursday :
Australia AIG construction index, UK BRC retail sales, RICS housing price balance, Australia trade balance, imports, exports, China PPI, CPI, Germany industrial production, exports, imports, trade balance, current account, Swiss retail sales, Italy unemployment rate, EU unemployment rate, Canada house starts, building permits and U.S. initial jobless claims.

778

AceTraderFx Jan 10: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jan 2020 03:30GMT

EUR/USD - 1.1107
Despite euro’s recovery in New York after resumption of recent decline from Dec’s 4-1/2 month peak at 1.1239 to 1.1094 yesterday suggests initial consolidation is in store, outlook remains mildly bearish for weakness towards chart objective at 1.1067, loss of downward momentum should keep price above 1.1041.

On the upside, only a daily close above 1.1168 (downbeat U.S. jobs report perhaps) signals low is made, then risk would shift to upside for stronger retracement towards 1.1206 early next week.

Data to be released on Friday :
Japan all household spending, coincident index, leading indicator, Australia AIG services index, retail sales.
Swiss unemployment rate, France industrial output, Italy industrial output.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales and Canada unemployment change, employment rate.

779

AceTraderFx Jan 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jan 2020 03:30GMT

EUR/USD - 1.1117
Although euro’s strong rebound on Friday from 1.1086 (Europe) to 1.1129 in New York on soft U.S. jobs data suggests recent decline from December’s 4-1/2 month peak at 1.1239 has made a temporary low and stronger retracement towards 1.1144 (38.2% r) would be seen before prospect of another fall, below 1.1086 would extend to 1.1055/60.

Only above 1.1163/68 would risk gain to 1.1206 but 1.1239 should remain intact and yield retreat.

Data to be released later:
Italy retail sales and UK GDP, industrial output, manufacturing output, construction output, goods trade balance, goods trade balance non-EU on Monday.

780

AceTraderFx Jan 14: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 14 Jan 2020 03:30GMT

EUR/USD - 1.1132
Despite euro’s resumption of recent decline from December’s 4-1/2 month peak at 1.1239 to a 2-week bottom of 1.1086 on Friday, subsequent rebound to 1.1146 yesterday suggests temporary trough is in place and consolidation with upside bias remains, above 1.1168 needed to extend to 1.1200/06.

On the downside, only below 1.1086 would risk another fall to 1.1067/70, however, 1.1041 should remain intact.

Data to be released on Tuesday:
New Zealand NZIER business confidence, building permits, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, China exports, imports, trade balance.
U.S. core CPI, CPI, real weekly earnings, redbook, Federal budget.

781

AceTraderFx Jan 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 15 Jan 2020 03:30GMT

EUR/USD - 1.1128
Despite yesterday’s retreat from 1.1144 (Europe) to 1.1105 in New York, subsequent rebound to 1.1134 suggests further choppy trading above last Friday’s 2-week bottom at 1.1086 would continue and above 1.1168 would extend gain to 1.1180/85, however, reckon 1.1206 would remain intact.

On the downside, only below 1.1086 would revive bearishness for weakness to 1.1067/70, break, 1.1041.

Data to be released on Wednesday:
New Zealand food price index, Australia westpac consumer survey, Japan machine tool order.
France CPI (EU norm), CPI, Germany GDP, UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output, EU trade balance, industrial production.
U.S. PPI, core PPI.

782

AceTraderFx Jan 16: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jan 2020 03:30GMT

EUR/USD - 1.1154
Euro’s rally on Wednesday from 1.1119 (Europe) and then break of Monday’s 1.1146 high to 1.1163 in NY suggests recent upmove from last Friday’s 2-week bottom at 1.1086 has resumed and consolidation with mild upside bias would be seen, however, reckon 1.1180/85 would cap upside and yield retreat.

On the downside, below 1.1105 would indicate recovery has ended instead and bring re-test of 1.1086, break, 1.1067/70.

Data to be released on Thursday:
New Zealand retail sales, Japan corp goods price, machinery orders, UK RICS housing price balance, China house price index.
Germany CPI, HICP.
U.S. import prices, export prices, initial jobless claims, Philly Fed manufacturing survey, retail sales ex-autos, retail sales, business inventories, NAHB housing market index.

783

AceTraderFx Jan 17: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 17 Jan 2020 03:30GMT

EUR/USD - 1.1135
Despite euro’s rally from last Friday’s 2-week bottom at 1.1086 to 1.1172 yesterday, subsequent retreat to 1.1129 on upbeat U.S. data suggests temporary top made and consolidation with downside bias remains for weakness towards 1.1105 (Tuesday’s low), where break would bring re-test of 1.1086.

On the upside, only above 1.1172 would risk another rise to 1.1200/06 before prospect of correction.

Data to be released on Friday:
Australia manufacturing PMI, China industrial output, retail sales, GDP, Japan tertiary industry index.
Swiss producer/import price, France budget balance, Italy trade balance, global trade balance, CPI, CPI (EU norm), EU current account, construction output, HICP, HICP core, UK retail sales, retail sales ex-fuel.
U.S. building permit, housing starts, industrial production, capacity utilization, manufacturing output, JOLTS job openings, University of Michigan sentiment.

784

AceTraderFx Jan 20: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jan 2020 03:30GMT

EUR/USD - 1.1094
Euro’s selloff from Thursday’s 1.1172 high to 1.1087 on Friday, then intra-day 1-tick break of previous January’s 1.1086 low to 1.1085 bottom (Reuters) in New Zealand suggests recent decline from December’s 4-1/2 month peak at 1.1239 has resumed and further weakness to 1.1041/45 would be seen after consolidation.

On the upside, only above 1.1129 would risk stronger retracement to 1.1146, then possibly 1.1172.

Data to be released next week :
UK Rightmove house price index, Japan industrial output, capacity utilization, Germany production prices.
U.S. market holiday on Monday.

785

AceTraderFx Jan 21: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 21 Jan 2020 03:30GMT

EUR/USD - 1.1095
Euro’s fall from 1.1102 (Europe) yesterday and then break of previous Jan’s 1.1086 low to a 3-week bottom at 1.1077 suggests recent decline from December’s 4-1/2 month peak at 1.1239 has resumed and further weakness towards 1.1041, then 1.1005/10 would be seen after consolidation before prospect of correction.

On the upside, only above 1.1129 would indicate temporary trough made and risk gain to 1.1142/46.

Data to be released on Tuesday:
New Zealand services PMI, Japan Bank of Japan interest rate decision.
France business climate, UK ILO unemployment rate, employment change, average weekly earnings, claimant count, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations, Canada manufacturing sales.
U.S. redbook, and New Zealand GDT price index.

786

AceTraderFx Jan 22: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 22 Jan 2020 03:30GMT

EUR/USD - 1.1081
Despite euro’s rebound from Monday’s 3-week low at 1.1077 to 1.1118 in New York yesterday, subsequent retreat suggests recovery has ended and below 1.1077 would extend recent decline from December’s 4-1/2 month peak at 1.1239 to 1.1041, then 1.1005/10.

On the upside, only above 1.1129 would risk stronger retracement to 1.1142/46, then 1.1172.

Data to be released on Wednesday:
Australia consumer sentiment, France business climate.
Italy industrial orders, industrial sales, UK PSNB, PSNCR.
U.S. MBA mortgage applications, national activity index, monthly house price, existing home sales, and Canada CPI, new housing price index, wholesale trade, Bank of Canada interest rate decision.

787

AceTraderFx Jan 23: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 23 Jan 2020 03:30GMT

EUR/USD - 1.1088
Euro’s fall to a near 1-month low at 1.1071 (New York) yesterday suggests recent decline from December’s 4-1/2 month peak at 1.1239 to retrace medium term upmove from 2019 trough at 1.0880 (Oct) has resumed and would head to 1.1028/30 after consolidation before prospect of rebound due to ‘loss of momentum’.’

On the upside, only above 1.1142 would indicate temporary bottom is in place and risk gain towards 1.1172.

Data to be released on Thursday:
Japan exports, imports, trade balance, industrial activity, leading indicator, Australia employment change, unemployment rate.
EU ECB interest rate decision, ECB deposit rate decision, consumer confidence.
U.S. initial jobless claims, leading index, KC Fed manufacturing index.

788

AceTraderFx Jan 24: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jan 2020 03:30GMT

EUR/USD - 1.1053
Despite yesterday’s brief jump to 1.1108 at New York open, subsequent selloff below Wednesday’s 1.1071 low to a 7-week bottom at 1.1037 on dovish comments from ECB’s Lagarde suggests recent decline from December’s 4-1/2 month peak at 1.1239 has resumed and further weakness to 1.2982/85 would be seen after consolidation.

On the upside, only above 1.1108/18 would risk stronger retracement to 1.1142/46.

Data to be released on Friday:
New Zealand CPI, Australia manufacturing PMI, services PMI, Japan national CPI, national CPI, Jibun Bank manufacturing PMI, China market holiday.
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, Italy trade balance, EU Markit manufacturing PMI, Markit services PMI, UK manufacturing PMI, services PMI.
Canada retail sales, retail sales ex-autos, and U.S. Markit manufacturing PMI, Markit services PMI.

789

AceTraderFx Jan 29: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 29 Jan 2020 03:30GMT

EUR/USD - 1.1022
Euro’s break of Monday’s 1.1010 low to an 8-week bottom at 1.0999 in New York yesterday confirms recent decline from December’s 4-1/2 month peak at 1.1239 has resumed and subsequent rebound would bring range trading before prospect of another fall towards November’s 1.0982 low.

On the upside, only above 1.1037 would risk stronger retracement to 1.1061/71.

Data to be released on Wednesday:
Australia Westpac leading index, CPI, China market holiday, UK BRC shop price index, nationwide house price, Japan consumer confidence.
France consumer confidence, Italy consumer confidence, manufacturing business confidence, producer prices Swiss investor sentiment.
U.S. MBA mortgage application, wholesales investor, goods trade balance, pending home sales Fed interest rate decision.

790

AceTraderFx Jan 30: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 30 Jan 2020 03:30GMT

EUR/USD - 1.1017
Despite resumption of recent decline to a fresh 8-week trough of 1.1093, euro’s rebound in post-FOMC New York after Fed’s unchanged rate decision suggests temporary low is made and range trading is in store before prospect of marginal weakness, loss of momentum should keep price above 1.0945/50.

Only a daily close above 1.1037 would yield stronger retarcement to 1.1061, however, 1.1085/90 should cap upside and yield another drop next week.

Data to be released on Thursday :
New Zealand imports, trade balance, exports, China market holiday, Australia export prices, import prices.
Swiss KOF indicator, Germany unemployment change, unemployment rate, CPI, HICP, Italy unemployment rate, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, unemployment rate, UK BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, BoE interest rate decision, BoE QE total, BoE QE corporate bond purchases.
U.S. GDP, PCE prices, initial jobless claims, and Canada average weekly earnings.

791

AceTraderFx Jan 31: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 31 Jan 2020 03:30GMT

EUR/USD - 1.1031
Although euro’s rebound from Wed’s 8-week trough at 1.0993 to 1.1038 (New York) yesterday suggests recent decline from January’s 4-1/2 month peak at 1.1239 has made a temporary low, as long as 1.1058/61 res area holds, consolidation with downside bias remains for one more fall to 1.0982, loss of momentum should keep price above 1.0949.

A daily close above 1.1061 would risk stronger retracement of said fall to 1.1085/90 but 1.1108 should cap upside.

Data to be released on Friday :
Japan Tokyo core CPI, Tokyo CPI, unemployment rate, industrial output, retail sales, construction order, housing starts.
UK GfK consumer confidence, Australia PPI, China NBA manufacturing PMI, NBA non-manufacturing PMI, Germany retail sales, Swiss retail sales, France GDP, consumer spending, CPI (EU norm) , CPI, producer prices, Italy GDP, EU HICP , core HICP, GDP.
U.S. personal income, personal spending, core PCE price, PCE price, employment wages, employment cost, Chicago PMI, Michigan consumer sentiment index and Canada GDP, producer prices, budget balance.

792

AceTraderFx Feb 03: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 03 Feb 2020 03:30GMT

EUR/USD - 1.1082
Euro’s impressive rally on Friday from 1.1017 (Europe) to as high as 1.1096 in New York due to usd’s weakness vs G5 currencies and falling US yields suggests recent decline from 1.1239 (December) has made a low at last Wednesday’s fresh 8-week bottom at 1.0993 and consolidation with upside bias remains for further headway to 1.1142, overbough condition is likely to cap price below res at 1.1172.

On the downside, only below 1.1038 (Thursday’s high, now sup) signals temporary top is made and may risk weakness towards 1.1017 later.

Data to be released on Monday:
Australia AIG manufacturing index, building permits, ANZ job ads, Japan Jibun Bank manufacturing PMI, China Caixin manufacturing PMI.
Swiss manufacturing PMI, Italy Markit manufacturing PMI, France Markit manufacturing PMI, Germany Markit manufacturing PMI, EU Markit manufacturing PMI, UK Markit manufacturing PMI.
Canada Markit manufacturing PMI, and U.S. Markit manufacturing PMI, construction spending, ISM manufacturing PMI on Monday.

793

AceTraderFx Feb 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Feb 2020 03:30GMT

EUR/USD - 1.1044
Yesterday’s marginal break of Monday’s 1.1037 low to 1.1034 suggests the corrective rise from last Wednesday’s 8-week trough at 1.0993 has possibly ended earlier at 1.1096 (Friday) and consolidation with downside bias is in store, a daily close below 1.1034 would encourage for re-test of said last week’s low.

Only above 1.1080 would abort bearish bias and risk would shift to the upside for re-test of 1.1096, then later to 1.1108/18.

Data to be released on Wednesday :
New Zealand unemployment rate, employment change, labour cost index, Japan Jibun bank services PMI, China Caixin services PMI.
Swiss consumer confidence, Italy Markit services PMI, France Markit services PMI, Germany Markit services PMI, EU Markit services PMI, retail sales, UK Markit services PMI.
U.S. MBA mortgage applications, ADP national employment, trade balance, Markit services PMI, ISM non-manufacturing PMI, and Canada trade balance exports, imports.

794

AceTraderFx Feb 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 Feb 2020 03:30GMT

EUR/USD - 1.1000
Euro’s resumption of decline to 1.0994 yesterday due to usd’s strength in New York after robust U.S. ADP private jobs data suggests re-test pf January’s 8-week low at 1.0993 would be forthcoming soon, break would extend recent erratic fall from 1.1239 (December) to next chart objective at 1.0982 (November low), then later towards projected target at 1.0944.

Only a daily close above 1.1034 ‘prolongs’ volatile trading above 1.0993 and risks stronger gain to 1.1064/66, however, reckon 1.1096 should remain intact ahead of Friday’s key jobs data.

Data to be released on Thursday :
Australia retail sales, trade balance, imports, exports, NAB business confidence.
Germany industrial orders, and U.S. initial jobless claims, labour costs, productivity.