AceTraderFx Oct 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 21 Oct 2021 03:00GMT
EUR/USD - 1.1655
Euro’s rebound from 1.1617 to 1.1658 yesterday suggests re-test of Tuesday’s near 3-week high at 1.1669 would be forthcoming soon, break there would extend corrective rise from October’s 1.1525 trough to 1.1700/05, however,’ loss of upward momentum’ should cap price below res at 1.1755 this week.
On the downside, only a daily close below 1.1617 signals said retracement is over, then outlook would turn bearish for weakness towards 1.1572 next week.
Data to be released on Thursday:
U.K. PSNB, PSNCR, CBI trend orders, France business climate, Italy industrial sales.
U.S. initial jobless claims, continuing jobless claims, existing home sales, leading index change, Canada ADP employment change, new housing price index and EU consumer confidence.
AceTraderFx Oct 22: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 22 Oct 2021 03:00GMT
EUR/USD - 1.1628
Yesterday’s retreat from 1.1667 to 1.1620 (New York) suggests further sideways swings below Tuesday’s near 3-week high at 1.1669 would continue, as long as 1.1617 (Wednesday’s reaction low) holds, outlook remains mildly bullish for corrective rise from October’s 1.1525 bottom to head towards 1.1703 before prospect of decline early next week.
On the downside, only a daily close below 1.1609 signals top is made and yields stronger retracement towards 1.1572.
Today is PMI day in the euro area countries, France will kick off with Markt mfg and servcies PMIs, then the same from Germany n the EU.
Pay attention to German n EU PMIs, if readings are sofyer than street forecasts, then euro will come under renewed selling pressure.
AceTraderFx Oct 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 25 Oct 2021 03:00GMT
EUR/USD - 1.1645
Despite euro’s daily sideways swings following early retreat from last Tuesday’s near 3-week high of 1.1669 to 1.1617 (Wednesday), as long as this sup holds, corrective rise from October’s 14-month trough at 1.1525 would head towards 1.1703 before decline due to loss of upward momentum.
A daily close below 1.1617 suggests correction is over and head back towards 1.1572.
On the data front, pay attention to key German Ifo business climate, current conditions n expectations at 08:00GMT, then later Buba monthly report. We also have ECB member de Cos speaking at 08:00GMT.
AceTraderFx Oct 26: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 26 Oct 2021 03:00GMT
EUR/USD - 1.1603
Euro’s intra-day fall from 1.1664 (Asia) and then subsequent break of 1.1617 sup in New York on Monday due to broad-based rebound in usd suggests the daily choppy sideways swings from last Tuesday’s near 3-week peak at 1.1669 had ended, a daily close below 1.1591 signals correction from October’s 14-month trough at 1.1525 has ended and re-test of this keep level would be seen later this week.
On the upside, only intra-day move back above 1.1650/55 aborts bearishness on euro and may risk re-test of 1.1669.
Data to be released on Tuesday:
U.S. building permits, redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.
AceTraderFx Oct 27: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 27 Oct 2021 03:00GMT
EUR/USD - 1.1601
Euro’s resumption of erratic fall from last Tue’s near 3-week high at 1.1669 to 1.1586 (New York) suggests correction from October’s 14-month bottom at 1.1525 has possibly ended, a daily close below 1.0572 would bring re-test of 1.1525 later this week.
Only above Tuesday’s 1.1625 high ‘prolongs’ choppy swings and may risk gain to 1.1664/69.
Data to be released on Wednesday:
New Zealand imports, trade balance, exports, NBNZ business outlook, NBNZ own activity, Australia CPI.
U.K. BRC shop price index, Germany Gfk consumer sentiment, Frnace consumer confidence, producer prices, Italy trade balance non-EU, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durable ex-transport, durables ex-defense, goods trade balance, wholesale inventories, and Canada BOC interest rate decision.
AceTraderFx Oct 28: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 28 Oct 2021 03:00GMT
EUR/USD - 1.1593
Euro’s marginal break of Tuesday’s 1.1586 low to 1.1585 in Europe Wednesday suggests correction from October’s 14-month trough at 1.1525 has possibly ended and as 1.1625 (New York high) has capped subsequent recovery, downside bias remains and below 1.1572 would head back towards 1.1525.
On the upside, only daily close above 1.1625 risks stronger gain to 1.1664/69, break, 1.1703.
Data to be released on Thursday:
Japan retail sales, BoJ interest rate decision, Australia export prices, import price.
Germany unemployment change, unemployment rate, Italy business confidence, consumer confidence, producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, ECB refinancing rate, ECB deposit rate.
Germany CPI, U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing and Canada average weekly earnings.
AceTraderFx Oct 29: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 29 Oct 2021 03:00GMT
EUR/USD - 1.1681
Euro’s impressive rally from 1.1583 (Europe) and intra-day break of last week’s 1.1669 high to a 1-month peak at 1.1692 in New York on downbeat US GDP report suggests upmove from Oct’s 14-month trough at 1.1525 has once again resumed and further gain is expected after consolidation but reckon 1.1755 res at should remain intact due to overbought condition.
On the downside, only a daily close below 1.1669 signals temporary top made, risks retracement to 1.1625, 1.1600.
We have data dump in the euro area countries in European morning, please refer to our EI page for details.
Pay attention to German and EU Q3 GDP, if actual readings come in better than forecast, then another bout of euro buying would be seen.
AceTraderFx Nov 01: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 01 Nov 2021 03:00GMT
EUR/USD - 1.1554
Euro’s selloff from 1.1689 to a 2-week trough at 1.1535 in New York Friday on heavy month-end usd’s demand suggests early corrective upmove from October’s 14-month low of 1.1525 has ended at 1.1692 Thursday and re-test of said sup is seen after consolidation, break extends to 1.1500 later.
On the upside, only a daily close above 1.1600 signals temporary low made, risks stronger retracement to 1.1625, 1.1655.
Eur area eco. calendar is very light as France and Italy plus other European countries are closed for All Saints’ Day holiday. Germany will release retail sales at 07:00GMT.
AceTraderFx Nov 02: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 02 Nov 2021 03:00GMT
EUR/USD - 1.1598
Euro’s stronger-than-expected rebound from Friday’s 2-week low of 1.1535 to 1.1609 Mon on broad-based usd’s retreat signals choppy trading above October’s 14-month 1.1525 bottom may continue, as long a previous res at 1.1625 holds, consolidation with downside bias remains, below 1.1580/83 signals recovery over and heads back towards 1.1535.
On the upside, only a daily close above 1.1625 may risk further gain to 1.1664/69 before prospect of another fall.
Data to be released on Tuesday:
New Zealand building permits, GDT price index, Australia RBA interest rate decision.
Swiss CPI, retail sales, Italy Markit manufacturing PMI, France Markit manufacturing PMI, , Germany Markit manufacturing PMI, EU Markit manufacturing PMI.
Canada building permits and U.S. redbook.
AceTraderFx Nov 03: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 03 Nov 2021 03:00GMT
EUR/USD - 1.1576
Euro’s retreat from 1.1613 to 1.1576 (New York) yesterday suggests early corrective rise from 1.1535 (Friday) has possibly ended, below 1.1564 would add credence to this view and bring re-test of said support, then 2021 bottom at 1.1525.
Only a daily close above 1.1625 prolongs choppy trading and may risk stronger gain towards 1.1669 (Fed’s dovish hold perhaps).
Data to be released on Wednesday :
Australia AIG construction index, services PMI, building permits, New Zealand employment change, unemployment rate, labour cost index, China Caixin services PMI, Japan Market holiday.
U.K. nationwide house price, France budget balance, Italy unemployment rate, U.K. Markit services PMI, EU unemployment rate.
U.S. MBA mortgage application, ADP employment change, international trade balance, goods trade balance, Markit services PMI, durables ex-defense, durable goods, factory orders, durables ex-transport, ISM non-manufacturing PMI, Fed interest rate decision.
AceTraderFx Nov 04: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 04 Nov 2021 03:00GMT
EUR/USD - 1.1615
Despite euro’s intra-day brief dip to 1.1563 on Fed’s bond tapering announcement Wednesday, subsequent rally to 1.1616 after Fed Powell’s dovish comments suggests choppy trading above last Friday’s 2-week low at 1.1535 would continue until release of Friday’s key U.S. jobs report.
As long as 1.1669 holds, consolidation with downside bias remains but below 1.1563 needed for weakness towards 1.1535.
Only a daily close above 1.1669 would risk re-test of last week’s 1.1692 peak (Thursday).
Data to be released on Thursday:
Japan services PMI, Australia trade balance, imports, exports.
Germany industrial orders, Markit services PMI, Swiss consumer confidence, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, producer prices, U.K. Markit construction PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchase, BOE MPC vote hike, BOE MPC vote unchanged, BOE MPC vote cut.
U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, Canada trade balance, exports and imports.
AceTraderFx Nov 05: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 05 Nov 2021 03:00GMT
EUR/USD - 1.1551
Despite euro’s bounce to 1.1616 Wednesday, subsequent selloff n break of last week’s 1.1535 low (Friday) to a 3-week bottom at 1.1529 Thursday on broad-based usd’s strength suggests correction from 1.1525 (October) has ended and re-test of said support is seen after consolidation, below yields further weakness to 1.1490.
On the upside, only a daily close above 1.1598 would signal low is made and bring stronger retracement to 1.1616, 1.1664/69.
On the data front, we have data dump from the euro area countries, please refer to our EI page for details, pay attention to German industrial output n EU’s retail sales. We also have a number of ECB officials scheduled to speak in European session.
AceTraderFx Nov 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 08 Nov 2021 03:00GMT
EUR/USD - 1.1566
Euro’s rebound from Friday’s 15-month trough at 1.1514 to 1.1573 on renewed usd’s weakness due to selloff in US yields despite upbeat US jobs report suggests Mid Term erratic decline has made a temporary low there and consolidation with mild upside bias remains, however, reckon 1.1600/10 would hold and yield retreat but below 1.1514 is needed for further weakness toward 1.1500, 1.1475/80.
On the upside, only a daily close above 1.1620/25 would yield stronger retracement to 1.1664/69 later.
On the data front, the only eco. indicator due out is EU’s Sentix investor confidence at 09:30GMT.
We have Eurogroup meeting today n a no. of ECB officials scheduled to speak in European seesion, pls refer to our EI page for details. ECB President Lagarde will participate at Eurogroup meeting at 11:01GMT.
AceTraderFx Nov 09: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 09 Nov 2021 03:00GMT
EUR/USD - 1.1585
Although euro’s intra-day rise on Monday from 1.1551 (Europe) and then break of Friday’s 1.1573 high to 1.1594 (New York) confirms recent downtrend has made a temporary low at Friday’s 15-month bottom at 1.1514 and mild upside bias remains for stronger retracement, overbought condition would prevent strong gain above res area at 1.1616/25 and yield decline later today or Wednesday.
On the downside, below 1.1551 anytime signals recovery is over and yield re-test of 1.1514.
Data to be released on Tuesday:
New Zealand retail sales, Japan current account, trade balance.
U.K. BRC retail sales, Australia NAB business conditions, NAB business confidence, Japan Eco watchers outlook, Eco watchers current, Germany exports, imports, trade balance, current account, France current account, trade balance, imports, exports, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations.
U.S. PPI and redbook.
AceTraderFx Nov 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 10 Nov 2021 03:00GMT
EUR/USD - 1.1592
Although euro’s gain to 1.1608 (New York) yesterday suggests corrective rise from Friday’s 15-month bottom at 1.1514 may extend marginal gain after consolidation, loss of upward momentum is likely to limit upside to 1.1625/35 and yield strong retracement of said upmove.
On the downside, a daily close below Tue’s 1.1571 low signals correction has possibly ended and heads back to 1.1525/35 later.
Data to be released on Tuesday:
Australia consumer sentiment, China PPI, CPI.
Germany CPI, HICP, Italy industrial output.
Canada leading index, U.S. MBA mortgage application, CPI, initial jobless claims, continuing jobless claims, wholesale inventories, wholesale sales and Federal budget.
AceTraderFx Nov 12: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 1 2 Nov 2021 03:00GMT
EUR/USD - 1.1445
Euro’s break of previous 1.1514 support to 1.1477 Wednesday, then yesterday’s fall to a fresh 15-month bottom of 1.1444 in holiday-thin New York suggests Mid Term decline from 20210 peak at 1.2349 (January) would extend to 1.1405/10 after consolidation but reckon 1.1383 should hold due to loss of momentum.
On the upside, only a daily close above 1.1514 signals a temporary bottom is made and retracement to 1.1571/74 is seen.
On the data front, we have a slew of eco. indicators from the euro area countries, please refer to our EI page for details. We also have ECB’s Chief Economist Lane participating at a workshop conference at 13:50GMT.
AceTraderFx Nov 15: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 15 Nov 2021 03:00GMT
EUR/USD - 1.1454
Euro’s marginal weakness to a fresh 15-month bottom at 1.1434 Friday suggests Medium-term decline from 2021 peak at 1.2349 (January) would resume after consolidation, however, loss of downward momentum should prevent steep fall today and reckon 1.1400/10 should hold from here.
On the upside, only a daily close above 1.1500 signals a temporary low is made and risks stronger retracement to 1.1520/30 before prospect of another fall.
Data to be released today:
Japan GDP, industrial output, capacity utilization.
U.K. Rightmove house price, China house prices, industrial output, retail sales, EU trade balance.
U.S. New York Fed manufacturing, Canada manufacturing sales and wholesale trade on Monday.
AceTraderFx Nov 16: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 1 6 Nov 2021 03:00GMT
EUR/USD - 1.1376
Euro’s selloff in New York session below Fri’s 1.1434 low (now res) due to broad-based euro’s weakness and rally in usd in tandem with U.S. yields to a 16-month trough of 1.1357 suggests recent downtrend would pressure price lower after consolidation, oversold condition is likely to keep price above 1.1291 and yield a much-needed correction later.
On the upside, only a daily close above 1.1434 signals temporary low is made and yields stronger retracement to 1.1461/63 before prospect of another fall later this week.
Data to be released on Tuesday:
Japan tertiary industry activities, New Zealand GDT price index.
U.K. Claimant count, ILO unemployment rate, employment change, average weekly earnings, France CPI, Italy CPI, EU employment, GDP.
Canada housing starts, U.S. import prices, export prices, retail sales, redbook, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index.
AceTraderFx Nov 17: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 1 7 Nov 2021 03:00GMT
EUR/USD - 1.1318
Euro’s selloff and break of Monday’s 1.1357 low to a fresh 16-month bottom at 1.1309 in New York yesterday due to usd’s rally in tandem with U.S. yields after robust US retail sales suggests recent downtrend would pressure price lower after consolidation , however, oversold condition should keep price above 1.1256 today and yield a much-needed minor correction later.
On the upside, only a daily close above 1.1385 (Tue high) signals temporary low is made and may risk stronger retracement to 1.1434 before prospect of another fall later this week.
Data to be released on Wednesday:
New Zealand PPI, Japan machinery orders, exports, imports, trade balance, Australia Westpac leading index, wage price index.
U.K. CPI, RPI, PPI input prices, PPI output prices, trade balance, DCLF house price index, Italy trade balance, EU construction output, HICP.
U.S. MBA mortgage application, building permits, housing starts and Canada CPI.
AceTraderFx Nov 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 18 Nov 2021 03:00GMT
EUR/USD - 1.1321
Euro’s rebound from a fresh 16-month bottom at 1.1265 Wednesday suggests medium-term downtrend from 2021 peak at 1.2349 (January) has made a temporary low and initial consolidation is seen before another fall, while loss of downward momentum would keep price above 1.1215/20 and bring correction.
On the upside, only a daily close above 1.1332 risks stronger retracement to 1.1357, break, 1.1385 later.
Data to be released on Thursday:
New Zealand inflation forecast.
Swiss trade balance, exports, imports, industrial production.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, leading index change and KC Fed manufacturing index.
DAILY MARKET OUTLOOK on Major