AceTraderFx Aug 20: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 20 Aug 2021 03:00GMT
EUR/USD - 1.1683
Although euro’s short-covering rebound from Thursday’s 9-month bottom at 1.1667 to 1.1704 (New York) suggests initial consolidation is in store, outlook remains for medium-term downtrend to head towards next daily chart objective at 1.1603 early next week.
Only a daily close above 1.1715 signals temporary low is made and may risk stronger retracement towards 1.1742 but 1.1761 should cap upside and yield another fall.
Euro area eco. calendar is pretty light today with German producer price for Jul being the only data due out at 06:00GMT.
AceTraderFx Aug 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 23 Aug 2021 03:00GMT
EUR/USD - 1.1702
Euro’s rebound from Fri’s 9-1/2 month trough at 1.1664 to 1.1704 on short covering in New York suggests recent downtrend has made a temporary low and range trading is in store before prospect of one more fall, ‘loss of momentum’ should keep price above key daily sup at 1.1603.
A daily close above 1.1715 would risk stronger retracement towards 1.1742, break may extend to 1.1770/80 later this week.
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 German n EU’s Markit mfg n services PMIs at 07:30GMT n 08:00GMT respectively.
AceTraderFx Aug 24: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 24 Aug 2021 03:00GMT
EUR/USD - 1.1744
Yesterday’s rally above Fri’s 1.1704 high (now sup) to 1.1750 confirms medium-term downtrend has made a temporary low at Friday’s 9-1/2 month trough at 1.1664 and upside bias remains for stronger retracement towards 1.1804 res which may hold on 1st testing.
Only a daily close below 1.1704 signals said correction has ended, then risk would shift to downside for weakness to 1.1793 but 1.1664 should remain intact
Data to be released on Tuesday:
New Zealand retail sales.
Germany GDP.
U.S. building permits, redbook, new home sales and Richmond Fed manufacturing.
AceTraderFx Aug 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 25 Aug 2021 03:00GMT
EUR/USD - 1.1754
Yesterday’s marginal gain to 1.1765 on broad-based usd’s weakness suggests upmove from Friday’s 9-1/2 month bottom at 1.1664 would extend marginally after consolidation, however, loss of upward momentum should cap price below res at 1.1804 today and yield decline later this week.
A daily close below Tue’s 1.1728 low (Europe) signals said corrective rise has possibly ended and heads back to 1.1693, then 1.1673.
Data to be released on Wednesday:
New Zealand imports, trade balance, exports, Australia construction work done, Japan coincident index, Germany Ifo business climate, Ifo current conditions, Ifo expectations.
Swiss investor sentiment, U.K. CBI distributive trades, MBA mortgage application, durable goods, durables ex-transport and durables ex-defense.
AceTraderFx Aug 26: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 26 Aug 2021 03:00GMT
EUR/USD - 1.1769
Despite yesterday’s resumption of upmove from Friday’s 9-1/2 month trough of 1.1664 to 1.1774 (New York) after meeting renewed buying at 1.1726, near term loss of upward momentum should cap price below res at 1.1804 and yield strong retreat later today or tomorrow.
On the downside, below 1.1726 signals at least the 1st leg of correction from 1.1664 is over and heads back towards 1.1693.
On the data front, we have Germany’s Gfk consumer sentiment, France’s business climate n then Italy’s industrial sales. ECB board member Schnabel will participate in Economist Roundtable on ECB’s strategy review organized by the German Federal Ministry of Finance at 15:00GMT.
AceTraderFx Aug 27: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 27 Aug 2021 03:00GMT
EUR/USD - 1.1744
Yesterday’s retreat from 1.1779 to 1.1747 (New York), then intra-day break there in Asia signals 1st leg of correction from last Friday’s 9-1/2 month bottom at 1.1664 has ended and downside bias remains for a strong retracement of said move ahead of Fed J. Powell’s Jackson Hole speech but reckon 1.1664 would hold.
Only above 1.1779 risks one more rise towards res at 1.1804 before prospect of decline next week.
On the data front, Germany will kick off with import prices, then France’s consumer confidence and Italy’s business and consumer confidence but market’s key focus is Jackson Hole.
AceTraderFx Aug 30: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 30 Aug 2021 03:00GMT
EUR/USD - 1.1801
Friday’s rally from 1.1735 in New York to a near 2-week high of 1.1802 after dovish Fed J. Powell’s Jackson Hole speech suggests upmove from August’s 1.1664 bottom remains in force, however, overbought condition should cap price below 1.1857 and yield retracement of said move.
A daily close below 1.1779 would be the 1st signal temporary top is made and yield retracement towards 1.1735 later today or tomorrow.
The euro area countries will release a slew of eco. data, please refer to our EI page for details.
ECB Board member Schnabel will chair at ECB Annual Research Conference at 15:00GMT.
AceTraderFx Aug 31: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 31 Aug 2021 03:00GMT
EUR/USD - 1.1797
Despite euro’s retreat from Monday’s 2-week high of 1.1810 (Asia) to 1.1784 in New York morning, subsequent rebound suggests upmove from Aug’s 9-1/2 month bottom at 1.1664 would extend marginal gain after consolidation, loss of upward momentum should cap price below 1.1857 and yield strong retracement of said rise later today or tomorrow.
A daily close below 1.1779 would indicate temporary top is made and head back towards 1.1735 (Friday’s low).
Data to be released on Tuesday:
Japan building permits, unemployment rate, industrial output, China NBS non-manufacturing PMI, NBS manufacturing PMI, New Zealand NBNZ business outlook, NBNZ own activity, Australia building permits, current account, net exports contribution, Japan consumer confidence, construction orders, housing starts.
France consumer spending, GDP, CPI, producer prices, Germany unemployment change, unemployment rate, Italy GDP, CPI, producer prices, EU HICP.
Canada GDP, U.S. redbook, monthly home price, Chicago PMI and consumer confidence.
AceTraderFx Sept 01: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 01 Sept 2021 03:00GMT
EUR/USD - 1.1805
Euro’s retreat from Tuesday’s 3-week high of 1.1847 suggests recent upmove from August’s bottom at 1.1664 has possibly made a top and consolidation with downside bias is seen, below 1.1784 would add credence to this view and head back towards 1.1735 later.
On the upside, only above 1.1847 risks marginal gain but loss of upward momentum would cap price at 1.1885/90 and yield decline.
Data to be released on Wednesday:
Australia AIG manufacturing index, manufacturing PMI, GDP, Japan Jibun bank manufacturing PMI, China caixin manufacturing PMI.
Germany retail sales, Markit manufacturing PMI, U.K. nationwide house price, Swiss manufacturing PMI, Italy Markit manufacturing PMI, France Markit manufacturing PMI, Italy unemployment rate, EU Markit manufacturing PMI, unemployment rate, U.K. Markit manufacturing PMI.
U.S. MBA mortgage application, ADP employment change, Markit manufacturing PMI, construction spending, ISM manufacturing PMI and Canada Markit manufacturing PMI.
AceTraderFx Sept 02: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 02 Sept 2021 03:00GMT
EUR/USD - 1.1841
Yesterday’s rally from 1.1794 (Europe) and then break of Tue’s 1.1847 top to 1.1856 on downbeat U.S. private payrolls and falling U.S. yields suggests recent upmove from Aug’s bottom at 1.1664 remains in force, however, loss of upward momentum should cap price below Jul’s peak at 1.1909 ahead of Friday’s key U.S. jobs report.
On the downside, a daily close below 1.1810 signals temporary top is in place and would head back to 1.1784, then later, 1.1735/45.
Data to be released on Thursday:
Australia trade balance, imports, exports.
Swiss CPI, retail sales, GDP, EU producer prices.
U.S. producer prices, international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durable goods, factory orders, durables ex-transport, Canada building permits, trade balance, exports and imports.
AceTraderFx Sept 03: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 03 Sept 2021 03:00GMT
UR/USD - 1.1882
Euro’s intra-day break of Thur’s near 1-month high of 1.1875 at Asian open on continued usd’s weakness suggests recent upmove from Aug’s bottom at 1.1664 remains in force and may head towards 1.1909 (Jul’s peak), above needed to retain bullishness for further headway to next chart objective at 1.1975 later next week.
On the downside, a daily close below 1.1856 would be the first signal temporary top is in place, then risk would shift to the downside for a much-needed retracement to 1.1835, then to 1.1784/94.
Today is PMI day in the euro area countries, please refer to our EI page for details n pay attention to German n EU’s Markit services PMIs, a better-than-expected number would boslter this week’s bullish sentiment on the euro.
AceTraderFx Sept 06: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 06 Sept 2021 03:00GMT
EUR/USD - 1.1879
Euro’s intra-day sideways swings are hitting a 1-month high of 1.1908 on Friday after a huge miss in U.S. payrolls suggests consolidation would continue in Asia before recent upmove resume, however, loss of upward momentum should cap price below daily res at 1.1975.
On the downside, only a daily close below 1.1856 signals temporary top is in place, then risk is seen for a stronger retracement to 1.1835, then later towards 1.1794.
Although market is expected to be quiet in Euroepan afternoon as markets in U.S. n Canada are closed for Labor Day holiday, pay attention to release German industrial orders and then EU’s Sentix index at 06:00GMT n 08:30GMT respectively, if actual readings are better than forecast, the euro would extend further gain.
AceTraderFx Sept 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 07 Sept 2021 03:00GMT
EUR/USD - 1.1877
Although euro’s retreat to 1.1856 (Europe) yesterday after hitting a 1-month peak of 1.1908 in post-NFP New York on Friday suggests recent upmove has made a temporary top, intra-day rebound at Asian open on Tuesday has retained bullishness for marginal gain, however, ‘loss of upward momentum’ should cap price below daily res at 1.1975 ahead of Thursday’s ECB monetary policy meeting and yield correction.
Only a daily close below 1.1856 risks stronger retracement to 1.1835, then later to 1.1784/94.
Data to be released on Tuesday:
Australia AIG services index, China exports, imports, trade balance, Australia RBA interest rate decision, Japan coincident index, leading indicator, New Zealand GDT price index.
U.K. BRC retail sales, Japan all household spending, Swiss unemployment rate, Germany industrial output, ZEW economic sentiment, ZEW current conditions, U.K. Halifax house prices, EU employment, GDP, ZEW survey expectations
AceTraderFx Sept 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 08 Sept 2021 03:00GMT
EUR/USD - 1.1847
Yesterday’s break of 1.1856 low to 1.1838 due to broad-based usd’s strength on the back of rally in U.S. yields suggests recent upmove from August’s 1.1664 bottom has made a temporary top at Friday’s 1-month peak at 1.1908 and stronger retracement is seen, however, near term, o/sold condition should keep price above 1.1757 (61.8% r from 1.1864).
On the upside, only above 1.1884/86 res signals pullback has ended and yields re-test of 1.1908 later today or tomorrow.
Data to be released on Wednesday:
Japan current account, trade balance, GDP, Eco watchers outlook, Eco watchers current.
France non-farm payrolls, current account, trade balance, imports, exports, Italy retail sales.
U.S. MBA mortgage application, redbook, JOLTS job openings, Canada BoC interest rate decision and Ivey PMI.
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AceTraderFx Sept 09: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 09 Sept 2021 03:00GMT
EUR/USD - 1.1815
Yesterday’s anticipated weakness to 1.1803 suggests euro’s recent upmove from August’s 9-1/2 month bottom at 1.1664 has formed a temporary top last Friday at 1.1908 and strong retracement of said move is envisaged, however, a daily close below 1.1757 (61.8% r) needed to signal correction is over and yield further weakness next week.
Only a firm break above 1.1856 (ECB’s hawkish hold perhaps) signals pullback has ended, then risk would shift to the upside for re-test of 1.1908.
Data to be released on Thursday:
New Zealand manufacturing sales.
U.K. RICS housing price balance, China PPI, CPI, Germany exports, imports, trade balance, EU ECB refinancing rate, deposit rate.
U.S. initial jobless claims and continuing jobless claims.
AceTraderFx Sept 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 10 Sept 2021 03:00GMT
EUR/USD - 1.1825
Despite euro’s retreat from 1.1841 to 1.1806 yesterday’s after ECB said it will slow its bond buying operation, subsequent recovery suggests further sideways swings above this week’s 1.1803 low (Wednesday) would continue, as long as 1.1856 (Monday’ low, now res) holds, decline from last Friday’s 1-month peak at 1.1908 would pressure price lower, however, loss of downward momentum should keep euro above 1.1757 (61.8% r of 1.1664-1.1908).
Only a daily close above 1.1856 signals pullback is possibly ended and risks gain to 1.1884/86, break would yield re-test of 1.1908 next week.
Data to be released on Friday :
New Zealand retail sales.
Germany CPI, HICP, U.K. GDP, industrial output, manufacturing output, construction output, trade balance, NISER GDP estimate, France industrial output, Italy industrial output.
U.S. PPI, wholesale inventories, wholesale sales, Canada capacity utilization, employment change and unemployment rate.
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AceTraderFx Sept 13: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 13 Sept 2021 03:00GMT
EUR/USD - 1.1809
Euro’s retreat from 1.1850 (Europe) to 1.1810 near New York close Friday on renewed usd’s strength due to risk-off sentiment and intra-day break there suggests recovery from last week’s 1.1803 low has ended and decllne from September’s 1-month high at 1.1908 would resume, however, loss of downward momentum is likely to keep price well above 1.1757 and bring correction.
Only a daily close above 1.1850 dampens bearishness on euro but break of 1.1884/86 res needed to yield re-test of 1.1908 later this week.
The only eco. data due out today is Germany’s wholesale price index. ECB board member Panetta will participate in G20 Finance and Central Bank Deputies’ meeting n ECB’s Schnabel will speak at a conference at 09:00GMT.
AceTraderFx Sept 14: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 14 Sept 2021 03:00GMT
EUR/USD - 1.1811
Despite Monday’s anticipated resumption of recent decline from September’s 1-month peak at 1.1908 to a 2-week trough of 1.1771 ahead of New York open, subsequent rebound in New York morning to 1.1817 on broad-based usd’s retreat due to falling U.S. Treasury yields suggests said fall has made a temporary low and consolidation is in store.
As long as res at 1.1850 (Friday high) holds, downside bias remains for another decline but reckon 1.1735 would contain weakness. A daily close above 1.0850 signals pullback from 1.1908 has possibly ended and risk would shift to upside for gain to 1.1884/86, then re-test of 1.1908 later this week.
Data to be released on Tuesday:
New Zealand Westpac consumer survey, Australia NAB business conditions, NAB business confidence, house price index, Japan industrial output, capacity utilization.
U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price.
Canada leading index, manufacturing sales, U.S. CPI and redbook retail sales.
AceTraderFx Sept 15: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 15 Sept 2021 03:00GMT
EUR/USD - 1.1802
Euro’s intra-day decline from 1.1845 to 1.1800 in hectic New York trading on Tuesday suggests recovery from 1.1771 (Monday) has ended and recent fall from Sep’s 1-month peak at 1.1908 would resume after consolidation, loss of downward momentum would keep price above 1.1735/40.
Only above 1.1850/51 res dampens bearish outlook and may risk stronger gain toward 1.1884 before prospect of retreat later this week.
Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, tertiary industry activity, Australia consumer sentiment, China industrial output, retail sales.
Germany wholesale price index, U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, France CPI, Italy CPI, EU industrial production, labour costs.
U.S. MBA mortgage application, New Yotk Fed manufacturing, import prices, export prices, industrial production, capacity utilization, manufacturing output, NAHB housing market index and Canada CPI.
AceTraderFx Sept 16: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 16 Sept 2021 03:00GMT
EUR/USD - 1.1820
Despite yesterday’s sideways swings following early retreat from 1.1845 to 1.1800 on Tuesday, as this move signals recovery from Monday’s 1.1771 low has possibly ended, downside bias remains, a daily close below 1.1800 would encourage for resumption of decline from September’s 1.1908 peak, however, loss of downward momentum should keep price above 1.1730/35.
Only above 1.1845/51 res area dampens bearish outlook and may risk stronger gain to 1.1884/86 but only break there would yield subsequent re-test of 1.1908.
Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, Australia consumer inflation experience, employment change, unemployment rate, RBA Bulletin.
Italy trade balance, EU trade balance.
Canada housing starts, wholesale trade, ADP employment change, U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, retail sales and business inventories.
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DAILY MARKET OUTLOOK on Major