AceTraderFx Dec 17: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 1 7 Dec 2021 03:00GMT
EUR/USD - 1.1331
Despite euro’s impressive rally in post-FOMC New York to 1.1299 on Wednesday, then yesterday’s break there to 1.1360 after ECB’s unchanged rate decision, subsequent retreat to 1.1299 suggests choppy trading inside recent 1.1187-1.1382 broad range would continue, below 1.1291/99 yields weakness to 1.1254/58 but 1.1223 should contain downside.
On the upside, only a daily close above 1.1360 may risk further gain towards 1.1382, break, 1.1434 next week.
We have data dump frm the euro area countries, pls refer to our EI page for details n pay attention to Ifo business climate at 09:00GMT.
AceTraderFx Dec 20: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 20 Dec 2021 03:00GMT
EUR/USD - 1.1249
Euro’s selloff from 1.1360 in post-ECB Thur to as low as 1.1236 on Fri due to safe-haven usd buying suggests choppy trading below previous 1.1382 res would continue with downside bias, below last week’s 1.1223 low (Wed) signals correction from Nov’s 16-month trough at 1.1187 has ended and yield re-test of this level later.
Only a daily close abv 1.1282 ‘prolongs’ recent choppy sideways swings and may risk stronger gain to 1.1325/35.
No economic data is due out from the euro area countries today.
AceTraderFx Dec 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 21 Dec 2021 03:00GMT
EUR/USD - 1.1278
Despite euro’s decline from last week’s high at 1.1360 (Thur) to 1.1236 Friday, then to 1.1235 (New Zealand) yesterday, subsequent rebound to 1.1303 in New York suggests daily choppy swings inside recent 1.1223-1.1360 range would continue, as long as 1.1360 holds, downside bias remains but below lower level is needed to head towards Nov’s 1.1187 low later this week.
On the upside, only a daily close above 1.1325 may risk stronger gain to 1.1345/50 but 1.1360 should cap upside.
Data to be released on Tuesday:
New Zealand Westpac consumer survey, GDT price index.
Germany Gfk consumer sentiment, U.K. PSNB, PSNCR, Swiss trade balance, exports, imports, Italy industrial sales, producer prices.
U.S. current account, Canada new housing price index, retail sales, U.S. redbook and EU consumer confidence.
AceTraderFx Dec 22: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 22 Dec 2021 03:00GMT
EUR/USD - 1.1286
Despite euro’s decline from last week’s high at 1.1360 (Thur) to to 1.1235 on Mondsay, subsequent rebound to 1.1303 and yesterday’s retreat from 1.1302 to 1.1261 suggests daily choppy swings inside recent 1.1223-1.1360 range would continue with downside bias but below lower level is needed to head towards Nov’s 1.1187 bottom ‘later’ this week.
On the upside, only a daily close above 1.1303 risks stronger gain to 1.1325 but reckon 1.1345/50 should cap upside.
Data to be released on Wednesday:
Australia Westpac leading index.
U.K. GDP, France producer prices, Italy trade balance, U.K. current account, MBA mortgage application, GDP, PCE prices, national activity index, consumer confidence and existing home sales.
AceTraderFx Dec 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 23 Dec 2021 03:00GMT
EUR/USD - 1.3331
Euro’s erratic rise from this week’s low at 1.2235 (Mon) to 1.1342 yesterday suggests recent daily wild swings are likely to continue possibly until end of next week as price continues to gyrate inside 1.1187-1.1382 broad range.
As long as last week’s high at 1.1360 holds, prospect of another retreat remains, below 1.1300 would add credence to this view and head back towards 1.1261. A daily close above 1.1360 would risk re-test of 1.1382.
Data to be released on Thursday :
Japan coincident index, leading indicator.
Germany import prices, Italy business confidence, consumer confidence.
U.S. building permits, personal income, personal spending, core PCE price index, durable goods, durables ex-transport, durables ex-defense, initial jobless claims, continuing jobless claims, University of Michigan sentiment, new home sales, Canada GDP and average weekly earnings.
AceTraderFx Dec 24: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 24 Dec 2021 03:00GMT
EUR/USD - 1.1325
Euro’s rise from this week’s low at 1.1235 (Mon) to 1.1342 Wed and yesterday’s choppy sideways swings suggests further volatile trading inside recent 1.1382-1.1223 range would continue, as long as last week’s high at 1.1360 (Thur) holds, downside bias remains, below 1.1291 (NY low) would head back to 1.1261/64 but reckon 1.1235 would remain intact.
A firm break of 1.1360 would shift risk to upside for re-test of Nov’s peak at 1.1382.
No economic data is due out on this Christmas Eve, Germany and other European centres are closed.
AceTraderFx Dec 28: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 28 Dec 2021 03:00GMT
EUR/USD - 1.1330
Despite euro’s relatively narrow swings in holiday-thin Monday’s session, as last week’s rise from 1.1235 (Mon) to 1.1343 and subsequent retreat to 1.1304 suggests price remains confined inside recent 1.1187-1.1382 broad range, possibly for rest of this holiday-abbreviated week, reckon 1.1360 should cap upside and yield decline, below 1.1291 would pressure price back towards 1.1261.
Only above said pivotal res at 1.1360 aborts recent bearish outlook and risks re-test of 1.1382.
Data to be released on Tuesday :
New Zealand Market Holiday, Australia Market Holiday, Japan unemployment rate, industrial production.
U.K. Market Holiday.
Canada Market Holiday, U.S. redbook, monthly home price and Richmond Fed manufacturing.
AceTraderFx Dec 29: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 29 Dec 2021 03:00GMT
EUR/USD - 1.1315
Despite last week’s rise from 1.1235 to 1.1343 (Friday), euro’s retreat to 1.1290 in New York yesterday suggests the daily wild swings inside recent broad range of 1.1187-1.1382 would continue this week, as long as 1.1343 holds, downside bias remains, below 1.1261 would yield weakness toward 1.1223 later.
On the upside, only above 1.1343 risks gain towards pivotal res at 1.1360 where a break there yields re-test of 1.1382
Data to be released on Wednesday :
Swiss investor sentiment, U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales.
AceTraderFx Dec 30: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 30 Dec 2021 03:00GMT
EUR/USD - 1.1351
Euro’s intra-day rally from 1.1274 (Europe) and then a brief break above last week’s 1.1360 high to 1.1368 in New York due to broad-based usd’s weakness suggests an upside break of the near 1-month long daily swings from 1.1382 has occurred, above there would extend upmove from Nov’s 16-month bottom at 1.1187 towards 1.1434 later.
Only a daily close below 1.1334 ‘prolongs’ choppy consolidation and yields weakness to 1.1274, then 1.1235.
No eco. data is due out from the euro area countries. Markets in Germany, France, Italy n Switzerland will closed for holiday on Fri.
AceTraderFx Dec 31: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 31 Dec 2021 03:00GMT
EUR/USD - 1.1325
Euro’s intra-day choppy sideways swings on Thur and subsequent weakness to 1.1299 in New York after hitting a 4-week high of 1.1368 ( Wed) signals further volatile swings below daily 1.1382 res would continue, below 1.1290/99 would head back to 1.1274 but reckon 1.1235 should hold.
On the upside, only above 1.1368 would yield re-test of 1.1382, break extends upmove from 1.1187 (Nov) towards 1.1434 later next week.
Data to be released on Friday :
New Zealand Market Holiday, Australia Market Holiday, China NBS manufacturing PMI, NBS non-manufacturing PMI.
Germany Market Holiday, Swiss Market Holiday, Italy Market Holiday, France Market Holiday.
AceTraderFx Jan 03: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 03 Jan 2022 03:00GMT
EUR/USD - 1.1363
Friday’s marginal gain above previous daily res at 1.1382 to a 6-week high of 1.1386 in holiday-thin N. American session suggests corrective rise from Nov’s 16-month bottom at 1.1187 may extend further headway after consolidation, loss of momentum is likely to cap price below 1.1434.
On the downside, a daily close below 1.1343 anytime signals top is in place and yields weakness to 1.1299/04 later.
AceTraderFx Jan 04: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 04 Jan 2022 03:00GMT
EUR/USD - 1.1305
Despite euro’s rally to a 6-week high of 1.1386 last Fri, yesterday’s selloff to 1.1280 in New York on broad-based usd’s strength due to rally in U.S. yields suggests upmove from Nov’s 16-month trough at 1.1187 has made a top there and below last week’s 1.1274 bottom (Wed) would yield stronger retracement towards 1.1235.
On the upside, only a daily close above 1.1336 dampens present bearish view on euro and may risk gain to 1.1366, break, 1.1386.
Data to be released on Tuesday:
New Zealand Market Holiday, GDT price index, Australia AIG services, manufacturing PMI.
U.K. BRC shop price index, Markit manufacturing PMI, Japan Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, unemployment change, unemployment rate, Swiss CPI, France CPI.
Canada producer prices, Markit manufacturing PMI, U.S. redbook, ISM manufacturing PMI and JOLTS job openings.
AceTraderFx Jan 05: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 05 Jan 2022 03:00GMT
EUR/USD - 1.1284
Euro’s selloff from Friday’s 6-week high of 1.1386 to 1.1280 (Monday), then yesterday’s weakness to 1.1273 suggests correction from November’s 16-month trough at 1.1187 has ended and despite bouncing to 1.1322 in New York on broad-based weakness in usd, subsequent retreat signals bearishness is retained but 1.1223 may contained downside.
Only a daily close above 1.1322 dampens present bearish view on euro and may risk gain to 1.1350/60, break, 1.1386.
Data to be released on Wednesday:
Japan consumer confidence.
France consumer confidence, Markit Services PMI, Italy Markit Services PMI, CPI, Germany Markit Services PMI, EU Markit Services PMI.
U.S. MBA mortgage application, ADP employment change, Markit Services PMI, Canada building permits and new housing price index.
AceTraderFx Jan 06: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 06 Jan 2022 03:00GMT
EUR/USD - 1.1310
Euro’s early decline from last Fri’s 6-week peak at 1.1386 to 1.1273 this week (Tue) suggests corrective rise from Nov’s 16-month bottom at 1.1187 has possibly ended there and despite staging a short-covering rally to 1.1346 yesterday, subsequent retreat after hawkish Fed minutes has retained bearishness, below 1.1273 would encourage for weakness towards 1.1223.
Only a daily close above 1.1346 shifts risk to upside for a possible re-test of 1.1386 later.
The euro area countries will release a slew of eco. data, pls refer to our EI page for details n pay attention to German industrial order.
ECB board member Schnabel will speak before the German parliament at 14:00GMT.
AceTraderFx Jan 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 07 Jan 2022 03:00GMT
EUR/USD - 1.1293
Euro’s early decline from last Fri’s 6-week peak at 1.1386 to 1.1273 (Tue) suggests correction from Nov’s 16-month bottom at 1.1187 has possibly ended there, below 1.1273 would add credence to this view and head towards 1.1223.
On the upside, only a daily close above 1.1346 shifts risk to upside for a possible re-test of 1.1386 next week.
The euro area countries will release a slew of eco. data, pls refer to our EI page for details, pay attention to EU’s retail sales, eco. n consumer sentiment indices at 10:00GMT.
AceTraderFx Jan 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 10 Jan 2022 03:00GMT
EUR/USD - 1.1352
Euro’s rally to 1.1364 in post-NFP New York Friday and break of previous 1.1346 resistance on broad-based usd’s weakness suggests pullback from Dec’s 6-week peak at 1.1386 has ended but above 1.1386 is needed to extend corrective rise from Nov’s 16-month trough at 1.1187 towards 1.1434.
On the downside, a daily close below 1.1322 would prolong choppy sideways swings and weakness towards 1.1285, then 1.1273 would be seen later.
Data to be released today:
Australia building permits, Japan Market Holiday.
Italy industrial sales, unemployment rate, EU Sentix index, unemployment rate.
U.S. wholesale inventories, wholesale sales on Monday.
AceTraderFx Jan 11: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 11 Jan 2022 03:00GMT
EUR/USD - 1.1332
Although euro’s selloff from 1.1364 (Friday) to as low as 1.1286 in New York yesterday on cross-selling in euro suggests further choppy trading below Dec’s 6-week peak at 1.1386 would continue, subsequent strong rebound signals price may continue to gyrate inside 1.1386-1.1273 broad range before prospect of a downside break, below 1.1273 yields weakness towards 1.1235.
On the upside, only a daily close above 1.1386 resistance s risk stronger correction to 1.1420/30 later this week.
Data to be released on Tuesday:
Australia retail sales, trade balance, imports, exports, Japan coincident index, leading indicator.
U.K. BRC retail sales, NIESR GDP estimate, Italy retail sales.
U.S. mortgage application and redbook.
AceTraderFx Jan 12: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 12 Jan 2022 03:00GMT
EUR/USD - 1.1369
Although euro’s break of last Fri’s top at 1.1364 to 1.1374 in New York Tuesday on broad-based usd’s weakness after Fed Powell’s less hawkish comments suggests re-test of Nov’s 1.1386 peak is seen, above needed to extend rise from Nov’s 16-month 1.1187 bottom towards 1.1434 later.
On the downside, a daily close below 1.1314 would prolong choppy sideways swings and yield weakness to 1.1273/78.
Data to be released on Wednesday:
Japan current account, trade balance, Eco watchers current, Eco watchers outlook, China PPI, CPI.
Germany wholesale trades, EU industrial production, U.S. MBA mortgage application, CPI and Federal budget.
AceTraderFx Jan 13: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 13 Jan 2022 03:00GMT
EUR/USD - 1.1442
Despite euro’s daily wild swings from Dec’s 6-week high at 1.1386, yesterday’s rally above there to as high as 1.1452 in New York Wednesday on broad-based usd’s weakness despite strong but in-line U.S. inflation data confirms upmove from Nov’s 16-month bottom at 1.1187 has finally resumed and above 1.1463 would yield stronger gain to 1.1515/25 after consolidation.
On the downside, only a daily close below 1.1386 signals a temporary top is in place and weakness towards 1.1355 is seen later.
Data to be released on Thursday:
New Zealand building permits, Australia consumer inflation.
U.K. RICS housing price balance, Italy industrial output, trade balance.
U.S. initial jobless claims, continuing jobless claims and PPI.
AceTraderFx Jan 14: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 14 Jan 2022 03:00GMT
EUR/USD - 1.1456
Euro’s rally above 1.1452 (Wed) to a fresh 7-week peak at 1.1481 in New York Thursday on continued usd’s weakness suggests recent upmove from Nov’s 16-month trough at 1.1187 would extend towards 1.1525 but near term ‘loss of momentum’ should cap price at 1.1542/47 and yield decline later.
On the downside, only below 1.1415/20 may signal a temporary top is in place and risk stronger retracement towards 1.1386.
On the data front, the euro area will release a slew of data, pls refer to our EI page for details.
We also have ECB President Lagarde n ECB board member de Cos will also speak during NY morning.
DAILY MARKET OUTLOOK on Major