AceTraderFx Mar 30: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 30 Mar 2021 03:00GMT
EUR/USD - 1.1768
Euro’s intra-day brief break of last Thursday’s 1.1762 low to a fresh 4-month trough of 1.1761 (New York) signals medium-term erratic downtrend from 1.2349 (Jan) has resumed and expect minor consolidation before prospect of further decline, loss of downward momentum would limit weakness to 1.1700/10.
On the upside, only a daily close above 1.1804 signals temporary low is in place and risk stronger recovery, however, reckon res at 1.1850 would cap upside.
Data to be released on Tuesday :
New Zealand building permit, Japan unemployment, retail sales.
Italy consumer confidence, Swiss KOF indicator, France producer prices, EU economic sentiment, industrial sentiment, services sentiment, consumer confidence, business climate, Germany CPI, HCIP.
Canada average weekly earnings, U.S. redbook, monthly home price, CS home price, consumer confidence.
AceTraderFx Mar 31: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 31 Mar 2021 03:00GMT
EUR/USD - 1.1723
Euro’s anticipated resumption of recent downtrend from 2021 peak at 1.2349 (Jan) to a fresh 4-1/2 month trough of 1.1712 in New York yesterday due to continued usd’s strength on the back of rising U.S. yields should pressure price after consolidation, loss of near term downward momentum would limit weakness to 1.1660/65.
On the upside, only a daily close above 1.1761 signals temporary low is made and yields stronger retracement of said decline, however, reckon 1.1800/10 should cap upside.
Data to be released on Wednesday :
Japan industrial output, construction orders, housing starts, New Zealand NBNZ business outlook, NBNZ own activity, building permits, China NBS non-mfg PMI, NBS mfg PMI.
Germany import prices, unemployment change, unemployment rate, U.K. GDP, nationwide house price, France consumer spending, CPI, producer prices, Swiss investor sentiment, EU HCIP, Italy CPI.
U.S. MBA mortgage app, ADP employment change, Chicago PMI, pending home sales, Canada GDP, producer prices.
AceTraderFx Apr 01: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 01 Apr 2021 03:00GMT
EUR/USD - 1.1723
Despite resumption of recent decline to a fresh 4-1/ 2 month trough of 1.1705 (Asia) yesterday, subsequent bounce to 1.1759 in New York suggests temporary low is possibly made and subsequent retreat would bring range trading before one morel rise, reckon res at 1.1804 should cap upside and bring another fall.
Only below 1.1705 extends marginal weakness, however, loss of downward momentum should keep euro above 1.1662 and risk has increased for a correction to take place ahead of Friday’s U.S. jobs report.
The euro area countries will release a slew of eco. data, pls refer to our EI page for details. Today is PMI day, pay attention to Germany’s retails sales n then PMI data from Germany and the EU.
AceTraderFx Apr 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 07 Apr 2021 03:00GMT
EUR/USD - 1.1871
Euro’s rally yesterday above Mon’s 1.1819 high to a near 2-week top of 1.1877 due to continued usd’s weakness on falling U.S. yields suggests upmove from last Wednesday’s 4-1/2 month trough at 1.1705 remains in progress and would extend marginal gain, overbought condition should cap price at 1.1947 and risk has increased for a strong retracement of said rise.
On the downside, below 1.1819 signal at least the 1st leg of correction over and heads back to 1.1786/96.
Data to be released on Wednesday :
Australia AIG construction index, Markit services PMI, Japan coincident index, leading indicator.
Italy Markit services PMI, France Markit services PMI, Germany Markit services PMI, EU Markit services PMI, UK Markit services PMI.
U.S. MBA mortgage applications, trade balance, and Canada trade balance, exports, imports, Ivey PMI.
AceTraderFx Apr 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 08 Apr 2021 03:00GMT
EUR/USD - 1.1870
Despite resumption of recent upmove from March’s 4-1/2 month trough at 1.1705 to a 2-week high of 1.1914 (New York) yesterday, loss of upward momentum should cap euro’s upside below res at 1.1947 and yield decline later today.
A daily close below 1.1850 would be the 1st signal said corrective rise has made a top, then risk would shift to downside for weakness to 1.1776/86 tomorrow or early next week.
Data to be released on Thursday:
Japan current account, trade balance, consumer confidence.
Germany industrial orders, France imports, exports, current account, trade balance, UK RICS housing price, construction PMI, EU producer prices.
U.S. initial jobless claims, continuing jobless claims.
AceTraderFx Apr 09: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 09 Apr 2021 03:00GMT
EUR/USD - 1.1906
Euro’s resumption of upmove from March’s 4-1/2 month trough at 1.1705 to a fresh 2-week high of 1.1927 in New York yesterday on usd’s weakness suggests stronger retracement to 1.1947 would be seen after consolidation, however, loss of upward momentum should cap price below 1.1988/90 today.
On the downside, only below 1.1861/66 would risk weakness to 1.1819/21 but 1.1786/96 may hold.
The euro area countries will release a slew of eco. data, please refer to our EI page for details.
Pay attention to German indutrial outout at European open. ECB President n ECB board member Panetta will participate in the IMF/World Bank Spring meeting.
AceTraderFx Apr 12: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 12 Apr 2021 03:00GMT
EUR/USD - 1.1898
Euro’s choppy swings from last Thursday’s 2-week high at 1.1927 may continue and as long as near term good sup at 1.1861 holds, corrective rise from Mar’s 1.1705 low may extend marginal gain, however, loss of upward momentum should cap price below 1.1990 and yield decline later.
A daily close below 1.1861 signals top is made and yields weakness to 1.1819/21, then 1.1786/96
Data to be released today:
Japan corporate goods price, machinery orders.
EU retail sales, U.S. Federal Budget on Monday.
AceTraderFx Apr 13: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 13 Apr 2021 03:00GMT
EUR/USD - 1.1912
Despite euro’s daily sideways swings following early retreat from last Thursday’s 2-week high of 1.1927, as long as previous good sup at 1.1861/62 holds, corrective rise from Mar’s 4-1/2 month trough at 1.1705 would extend marginal gain, ‘loss of upward momentum’ should cap price below 1.1990 and yield decline.
A daily close below said sup signals 1st least the 1st leg of correction over and heads back to 1.1786/96 later this week.
On the data front, Germany will kick off with wholesale price index, then ZEW economic sentiment, current conditions n survey expectation. Italy will release industrial output.
AceTraderFx Apr 14: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 14 Apr 2021 03:00GMT
EUR/USD - 1.1950
Yesterday’s break of last week’s 1.1927 high to 1.1955 due to usd’s weakness on falling US yields suggests recent corrective rise from 1.1705 (March) has resumed, loss of upward momentum is expected to cap price at 1.1988/90 and bring at least a strong retracement of aforesaid upmove.
A daily close below 1.1927 signals temporary top is in place and yields weakness to 1.1861/65 later this week.
On the data front, we have EU’s industrial production for Feb. A number of ECB officials including ECB President Lagarde will speak later today, please refer to our EI section for details.
AceTraderFx Apr 15: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 15 Apr 2021 03:00GMT
EUR/USD - 1.1982
Despite euro’s resumption of recent upmove from March’s 4-1/2 month trough at 1.1705 to 1.1987 yesterday, loss of upward momentum would prevent strong gain above daily 1.1990 res and yield retreat, below 1.1927 (previous res, now sup) indicates top is in place and heads back towards 1.1878.
Only a daily close above psychological 1.2000 handle may risk stronger gain to 1.2045/50 before prospect of decline.
Data to be released on Thursday :
New Zealand food price index, Australia consumer inflation experience, employment change, unemployment rate.
Germany CPI, HICP, wholesale price index, France CPI, Italy CPI.
U.S. New York Fed manufacturing, initial jobless claims, continuous jobless claims, Philly Fed manufacturing index, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index, Canada manufacturing sales, ADP employment change.
AceTraderFx Apr 16: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 16 Apr 2021 03:00GMT
EUR/USD - 1.1970 Despite euro’s intra-day retreat after hitting a 5-week peak of 1.1993 (Europe), as long as 1.1952/57 sup holds, corrective rise from March’s 4-1/2 month bottom at 1.1705 may extend marginal gain, loss of upward momentum would cap price at 1.2024 and yield retracement of aforesaid rise.
A daily close below 1.1952 signals temporary top is made and heads back towards 1.1878 early next week.
Data to be released on Friday :
New Zealand manufacturing PMI, China housing prices, industrial output, retail sales.
Swiss producer/import price, Italy trade balance, EU trade balance, HICP.
U.S. building permits, housing starts, U. Mich. sentiment, Canada wholesale trade.
AceTraderFx Apr 19: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 19 Apr 2021 03:00GMT
EUR/USD - 1.1973
Despite Friday’s retreat from a fresh 5-week peak of 1.1994, as long as 1.1951 sup (Friday low) holds, euro’s recent corrective upmove would extend marginal gain after consolidation, however, loss of upward momentum would limit upside to 1.2027 and yield decline later today or tomorrow.
A daily close below 1.1951 signals long-awaited retracement has occurred and would head back to 1.1927 1st, then 1.1695/00.
Data to be released today :
U.K. rightmove house price, Japan exports, imports, trade balance, industrial output, capacity utilization, industrial output, EU construction output, current account on Monday.
AceTraderFx Apr 20: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 20 Apr 2021 03:00GMT
EUR/USD - 1.2043
Euro’s rally on Monday above last week’s 1.1994 high (now sup) to a 6-week top at 1.2048 suggests recent rise from March’s 4-1/2 month bottom at 1.1705 would extend marginal gain, near term loss of upward momentum should cap price below March’s peak at 1.2112 and yield decline later this week.
A daily close below 1.1994 anytime indicates said upmove has made a top, then stronger retracement towards 1.1943 would follow.
Data to be released on Tuesday :
Japan tertiary industry index, Germany producer prices.
U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings.
U.S. redbook.
AceTraderFx Apr 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 21 Apr 2021 03:00GMT
EUR/USD - 1.2038
Although euro’s retreat from Tuesday’s 6-week peak of 1.2079 to 1.2023 (NY) suggests recent upmove from 1.1705 (March) has made a temporary top, as long as 1.1994 (previous res, now sup) holds, mild upside bias remains for marginal gain, ‘loss of upward momentum’ should cap price below daily res at 1.2112 and yield strong retracement of aforesaid rise later today or tomorrow.
Below 1.1994 anytime signals long-awaited correction has taken place and would head back towards 1.1943.
Data to be released on Wednesday :
New Zealand CPI, Australia Westpac leading index, retail sales.
U.K. core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output prices, DCLG house price index.
U.S. MBA mortgage application, Canada CPI, CPI BoC core, core CPI, Bank of Canada interest rate decision.
AceTraderFx Apr 22: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 22 Apr 2021 03:00GMT
EUR/USD - 1.2037
Yesterday’s rebound from 1.1999 to 1.2038 (New York) suggests pullback from Tuesday’s 6-week peak at 1.2079 has possibly ended and above 1.2043/48 would bring re-test of said res, loss of upward momentum should cap price below 1.2112 (March high) and bring correction later today or tomorrow.
Below 1.1994/99 anytime signals recent upmove from 1.1705 has made a top, then stronger retracement towards 1.1943 would follow.
Market focus today will be the European Central Bank meeting with refinancing rate and deposit rate scheduled to be released at 11:45 GMT. Traders should pay close attention to President Christine Lagarde’s press conference at 12:30 GMT
AceTraderFx Apr 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 23 Apr 2021 03:00GMT
EUR/USD - 1.2014
Euro’s brief break of Wednesday’s 1.1999 low to 1.1994 Thursday in post-ECB New York strongly suggests recent upmove from March’s 4-1/2 month bottom at 1.1705 has made a temporary at 1.2079 (Tuesday) and consolidation with downside bias is in store for further weakness, near term oversold condition is likely to keep price above this week’s trough at 1.1943 (Monday) and bring recovery.
On the upside, only above 1.2069 (New York high) risks re-test of 1.2079 but loss of upward momentum should cap price below daily res at 1.2112.
Today is PMI day in the euro area countries, please refer to our EI page for details n pay attention to Germany’s n the EU’s Markit mfg n services PMIs at 07:30GMT n 08:00GMT respectively, if actual readings come in lower than street forecast, then expect euro to come under renewed selling pressure.
ECB President Lagarde will participate in the panel on climate change organised by Mike Bloomberg at 14:30GMT.
AceTraderFx Apr 26: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 26 Apr 2021 03:00GMT
EUR/USD - 1.2093
Euro’s break of last Tuesday’s 1.2079 top to a 7-week peak of 1.2099 Fri on renewed usd’s weakness suggests recent upmove has once again resumed and would re-test 1.2112 (Mar peak), overbought condition is likely to cap price at 1.2155/65.
On the downside, only below 1.2047 (New York low) signals temporary top is in place, then risk is seen for stronger retracement to 1.1994/94 later this week.
Pay attention to release of a slew of key German Ifo data n in particular the business climate for Apr, street forecast is 97.7 vs prev. reading of 96.6, a stronger-than-expected reading would trigger more euro buying. ECB member Panneta will speak at 12:00GMT n then ECB Chief Economist Lane will soeak at 13:00GMT.
AceTraderFx Apr 27: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 27 Apr 2021 03:00GMT
UR/USD - 1.2080
Euro’s retreat from Monday’s 8-week high of 1.2116 to 1.2062 suggests recent strong upmove has possibly made a temporary top and subsequent bounce to 1.2094 would bring initial consolidation in Asia, below 1.2062 would yield retracement to 1.2047, then later towards 1.1994.
Only above 1.2116 risks marginal gain, however, loss of upward momentum should cap price well below 1.2169 and yield a long-overdue correction ahead of Wednesday’s key FOMC announcement.
Economic calendar in the euro area countries is pretty light with data due out from Italy (please see EI page for details) which will be overlooked by traders.
AceTraderFx Apr 28: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 28 Apr 2021 03:00GMT
EUR/USD - 1.2088
Yesterday’s rebound from 1.2057 to 1.2091 suggests pullback from Monday’s 8-week high at 1.2116 has ended and recent strong upmove from 1.1705 (March) would yield marginal gain, loss of upward momentum should cap euro at 1.2160/69 and yield a long-overdue correction.
A daily close below 1.2057 would be 1st signal temporary top is made, then stronger retracement towards chart objective at 1.1994 would follow later this week.
The euro area countries will release a slew of eco. data (please refer to our EI page for details), pay attention to German Gfk consumer confidence at 06:00GMT.
ECB President Lagarde Lagarde will speak at a forum named “Global Leaders Series” at 14:00GMT.
AceTraderFx Apr 29: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 29 Apr 2021 03:00GMT
EUR/USD - 1.2134
Euro’s intra-day rally above Monday’s 1.2116 high to a fresh 8-week peak of 1.2134 Wednesday after Fed’s dovish hold suggests recent strong upmove from March’s 4-1/2 month trough at 1.1705 would head to 1.2175/80, however, overbought condition should prevent strong gain and reckon 1.2200/10 would cap upside and yield a long-overdue correction.
A daily close below 1.2102 would signal temporary top is in place and heads back towards 1.2057 but 1.1994/99 should contain weakness.
Data to be released on Thursday :
New Zealand imports, trade balance, exports, NBNZ business outlook, NBNZ outlook activity, Australia export prices, import prices.
U.K. nationwide house price, Germany import prices, unemployment change, unemployment rate, CPI, HICP, Italy producer prices, EU economic sentiment, industrial sentiment, services sentiment, consumer confidence, business climate.
US GDP, GDP deflator, PCE prices, initial jobless claims, continuous jobless claims, pending home sales, Canada average weekly earnings.
DAILY MARKET OUTLOOK on Major