AceTraderFx Mar 17: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 17 Mar 2022 03:00GMT
EUR/USD - 1.1047
Although euro’s erratic rise from Monday’s 1.0902 low to as high as 1.1047 in post-FOMC trading Wednesday and intra-day break there in Australia suggests further choppy trading above March’s fresh 22-month trough at 1.0807 would continue, however, reckon 1.1060/65 would hold and yield another fall, below 1.1015/20, 1.0951 (New York), break, 1.0927.
On the upside, only a daily close above 1.1094 would risk re-test of 1.1120, break, 1.1146 later.
Data to be released on Thursday:
Japan machinery orders, Australia employment change, unemployment rate.
Swiss exports, imports, trade balance, EU HICP, U.K. BoE interest rate decision, asset purchase program, BoE QE total, BoE QE Corp bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. Philly Fed manufacturing index, initial jobless claims, continuing jobless claims, housing starts, building permits, industrial production, capacity utilization and manufacturing output.
AceTraderFx Mar 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 18 Mar 2022 03:00GMT
EUR/USD - 1.1086
Euro’s strong rebound from last Monday’s fresh 22-month bottom at 1.0807 signals erratic decline from 1.1495 (February) has made a low there and yesterday’s break of last Thursday’s 1.1120 top to a 12-day peak at 1.1137 in New York on broad-based usd’s weakness signals gain to 1.1145/55 is envisaged but 1.1187 should hold.
On the downside, only a daily close below Wednesday’s 1.1009 trough signals temporary top is made and would risk weakness to 1.0951/55 on next Monday.
Data to be released on Friday:
New Zealand GDP, Japan nationwide CPI, BOJ interest rate decision, tertiary industry activity.
Italy trade balance, EU labour costs, trade balance, Canada retail sales, new housing price index, U.S. leading index change and existing home sales.
AceTraderFx Mar 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 21 Mar 2022 03:00GMT
EUR/USD - 1.1047
Euro’s strong retreat from last Friday’s 12-day high at 1.1137 to as low as 1.1004 in New York signals corrective upmove from March’s fresh 22-month bottom at 1.0807 has possibly made a temporary top there and consolidation with downside bias remains, below 1.1004 would yield further weakness towards 1.0972 but 1.0951 should remain intact.
On the upside, only a daily close above 1.1094 would dampen bearishness and risk stronger gain to 1.1118/20, break, 1.1137 again.
Data to be released next week :
New Zealand exports, trade balance, imports, Japan Market Holiday.
U.K. Rightmove house price, Germany producer prices.
U.S. national activity on Monday.
AceTraderFx Mar 22: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 22 Mar 2022 03:00GMT
EUR/USD - 1.1010
Euro’s strong retreat from last Thursday’s 12-day high of 1.1137 to 1.1004 Friday suggests corrective upmove from March’s fresh 22-month bottom at 1.0807 has made a temporary top there and yesterday’s retreat from 1.1069 to 1.1011 near New York close on renewed usd’s strength has retained bearishness, below 1.1004 would pressure price towards 1.0972 but 1.0951 may hold.
On the upside, only a daily close above 1.1071 would risk stronger gain towards 1.1094, break, 1.1118 later.
Data to be released on Tuesday:
Australia Westpac consumer survey, EU current account, construction output.
U.K. PSNCR, PSNB.
Canada producer prices, U.S. redbook and Richmond Fed manufacturing.
AceTraderFx Mar 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 23 Mar 2022 03:00GMT
EUR/USD - 1.1028
Although euro’s decline from last week’s high at 1.1137 (Thur) to as low as 1.0961 at European open yesterday signals corrective upmove from Mar’s fresh 22-month bottom at 1.0807 has possibly made a temporary top there, subsequent rebound to 1.1045 in New York due to broad-based retreat in usd on risk sentiment suggests retracement to 1.1069/71 may be seen before prospect of another fall.
On the upside, only a daily close above 1.1094 would risk stronger gain towards 1.1118.
Data to be released on Wednesday:
Japan coincident index, leading indicator.
U.K. PPI output prices, input prices, RPI, CPI, DCLG house price index.
U.S. MBA mortgage application, building permits, new home sales and EU consumer confidence.
AceTraderFx Mar 24: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time 24 Mar 2022 03:00GMT
EUR/USD - 1.0990
Yesterday’s weakness to 1.0965 (New York) suggests correction from this week’s low at 1.0961 Tuesday) has ended at 1.1045 and despite subsequent short-covering rebound to 1.1013 in Asia today, present retreat has retained bearishness, below 1.0961 would extend decline from 1.1137 to retrace March’s 22-month bottom at 1.0807 to 1.0933 (61.8% r) later today.
Only a daily close above 1.1045 ‘prolongs’ choppy sideways swings and may risk stronger gain to 1.1069/71.
Data to be released on Thursday:
Australia services PPI, manufacturing PMI, Japan Jibun bank manufacturing PMI, services PMI.
France business climate, Markit services PMI, Markit manufacturing PMI, Germany Markit services PMI, Markit manufacturing PMI, Swiss SNB interest rate decision, EU Markit services PMI, Markit manufacturing PMI, U.K. Markit services PMI, Markit manufacturing PMI.
U.S. continuing jobless claims, initial jobless claims, PCE prices, GDP, durables ex-defense, durables ex-transport, durable goods, current account, Markit services PMI, Markit manufacturing PMI and KC Fed manufacturing.
AceTraderFx Mar 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time 25 Mar 2022 03:00GMT
EUR/USD - 1.1010
Although euro’s decline from last week’s high at 1.1137 to as low as 1.0961 (Tuesday) suggests early correction from March’s 22-month bottom at 1.0807 has possibly ended, subsequent rebound to 1.1045 the same day and then daily choppy swings on Wednesday and Thursday would bring further consolidation before prospect of another fall towards 1.0927.
On the upside, only a daily close above 1.1045 dampens bearish outlook on euro and may risk stronger gain to 1.1069/71.
Data to be released on Friday :
Japan Tokyo CPI.
U.K. Gfk consumer confidence, retail sales, Italy trade balance, business confidence, consumer confidence, Germany Ifo expectations, Ifo current conditions, Ifo business climate.
U.S. pending home sales, University of Michigan sentiment and Canada budget balance.
AceTraderFx Mar 28: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 28 Mar 2022 03:00GMT
EUR/USD - 1.0973
Despite euro’s daily wild swings following early decline from 1.11737 to 1.0961 (Tuesday), intra-day weakness suggests downside bias remains, a daily close below 1.0961 would signal correction from March’s 22-month bottom at 1.0807 has ended, then bearish outlook is retained for further fall towards pivotal sup at 1.0902.
Only above 1.1045 ‘prolongs’ volatile trading and may risk another rise to 1.1069/71 but 1.1100/10 should cap upside.
Data to be released today:
U.S. wholesale inventories, goods trade balance and Dallas Fed manufacturing business index on Monday.
AceTraderFx Mar 29: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 29 Mar 2022 03:00GMT
EUR/USD - 1.0984
Although Monday’s initial break of last week’s low at 1.0961 to 1.0945 in Europe suggests euro’s correction from March’s 22-month bottom at 1.0807 has ended, subsequent short-covering rebound to 1.0999 would yield choppy swings before prospect of another fall, loss of momentum should keep price above pivotal sup at 1.0902.
Only a daily close above 1.1000 may shift risk to the upside for risk stronger retracement to 1.1035/45.
Data to be released today:
Japan unemployment rate, Australia retail sales.
Germany import prices, Gfk consumer sentiment.
Canada average weekly earnings, U.S. redbook, monthly home price, JOLTS jobs openings and consumer confidence on Tuesday.
AceTraderFx Mar 30: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 30 Mar 2022 03:00GMT
EUR/USD - 1.1097
Although euro’s decline from 1.1137 to 1.0945 Mon suggests recovery from Mar’s fresh 22-month bottom at 1.0807 has ended, yesterday’s rally from 1.0976 in Europe to as high as 1.1136 in New York following positive outcome of latest Ukraine-Russia peace talk signals choppy trading above said support would continue with upside bias and above 1.1137 may head towards 1.1167 later.
On the downside, only a daily close below 1.1045 indicates a temporary top is made and risks stronger retracement towards 1.0999, break, 1.0970/75.
Data to be released on Wednesday:
New Zealand building permits, NBNZ own activity, NBNZ business outlook.
U.K. BRC shop price index, Japan retail sales, Swiss KOF indicator, investor sentiment, Italy industrial sales, producer prices, EU consumer confidence, services sentiment, industrial sentiment, economic sentiment, business climate.
U.S. MBA Mortgage application, PCE prices, GDP, Germany HICP and CPI.
AceTraderFx Mar 31: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 31 Mar 2022 03:00GMT
EUR/USD - 1.1167
Euro’s rally above previous resistance at 1.1137 to a 4-week high at 1.1170 in New York yesterday on broad-based retreat in usd suggests corrective upmove from March’s fresh 22-month 1.0807 bottom remains in force and further gain to 1.1200/05 may be seen before prospect of decline later due to loss of upward momentum.
On the downside, a daily close below 1.1100 signals a temporary top is made and risks stronger retracement to 1.1071/72, break, 1.1045.
Data to be released on Thursday:
Japan industrial output, housing starts, construction orders, Australia building permits, China NBS non-manufacturing PMI, NBS manufacturing PMI.
U.K. nationwide house price, Swiss retail sales, France producer prices, CPI, consumer spending, Germany retail sales, unemployment rate, unemployment change, Italy CPI, unemployment rate, EU unemployment rate.
U.S. continuing jobless claims, initial jobless claims, PCE price index, personal spending, personal income, Chicago PMI and Canada GDP.
AceTraderFx Apr 01: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 01 Apr 2022 03:00GMT
EUR/USD - 1.1069
Euro’s selloff from yesterday’s 4-week peak at 1.1184 (Asia) to as low as 1.1061 in New York on cross-selling in euro suggests corrective upmove from March’s fresh 22-month bottom at 1.0807 has possibly ended there and would head back to 1.1045 after consolidation, reckon 1.0996 would hold initially.
On the upside, only a daily close above 1.1133/36 may risk stronger retracement to 1.1160/70 before down.
Data to be released on Friday:
Australia AIG manufacturing index, manufacturing PMI, Japan Tankan small non-manufacturing PMI, Tankan small manufacturing index, Tankan big non-manufacturing PMI, Tankan big manufacturing index, China Caixin manufacturing PMI.
Swiss CPI, manufacturing PMI, France budget balance, Markit manufacturing PMI, Italy Markit manufacturing PMI, Germany Markit manufacturing PMI, EU Markit manufacturing PMI, HICP, U.K. Markit manufacturing PMI.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, Markit manufacturing PMI, ISM manufacturing PMI, construction spending and Canada Markit manufacturing PMI.
AceTraderFx Apr 04: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 04 Apr 2022 03:00GMT
EUR/USD - 1.1051
Euro’ selloff from last Thursday’s 4-week high at 1.3184 to as low as 1.1029 in post-NFP New York Friday suggests recent erratic upmove from March’s 22-month bottom at 1.0807 has possibly made a temporary top there and consolidation with downside bias remains for weakness towards 1.0996 but 1.0970/75 should remain intact.
On the upside, only a daily close above 1.1076 would risk stronger gain to 1.1100/10 before another fall later.
Data to be released next week :
China Market Holiday.
Germany current account, trade balance, imports, exports.
EU Sentix index, Canada building permits.
U.S. durables ex-transport, factory orders, durable goods and durables ex-defense on Monday.
AceTraderFx Apr 06: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 06 Apr 2022 03:00GMT
EUR/USD - 1.0901
Euro’s selloff below 1.0945 (now resistance) to a near 4-week bottom at 1.0901 in New York yesterday on rally in usd in tandem with U.S. yields on Fed Brainard’s hawkish comments suggests correction from March’s 22-month trough at 1.0807 has ended earlier at 1.1184 last Thursday and weakness to 1.0845/50 is envisaged but 1.0807 should contain downside today.
On the upside, only a daily close above 1.0961 would risk stronger retracement towards 1.0988, break, 1.1029 later.
Data to be released on Wednesday:
China Caixin services PMI.
Germany industrial orders, U.K. Markit construction PMI, EU producer prices.
U.S. MBA mortgage application and Canada Ivey PMI.
AceTraderFx Apr 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 07 Apr 2022 03:00GMT
EUR/USD - 1.0907
Euro’s resumption of decline from last Thursday’s 4-week peak at 1.1184 to as low as 1.0874 yesterday suggests correction from March’s 22-month bottom at 1.0807 has possibly ended there and as 1.0937 has capped subsequent recovery in New York, consolidation with downside bias remains for re-test of said support, below would extend towards 1.0846 but 1.0807 should remain intact.
On the upside, only a daily close above 1.0940/45 may risk stronger retracement of said fall towards 1.0988.
Data to be released on Thursday:
Australia AIG services index, exports, imports, trade balance, Japan leading indicator, coincident index, machine tool orders.
Swiss unemployment rate, Germany industrial output, U.K. Halifax house price, EU retail sales.
U.S. continuing jobless claims and initial jobless claims.
AceTraderFx Apr 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 08 Apr 2022 03:00GMT
EUR/USD - 1.0862
Euro’s selloff from last Thursday’s high at 1.1184 to 1.0866 in New York yesterday on continued usd’s strength, then present break there in Asia suggests correction from March’s 22-month bottom at 1.0807 has ended and bearishness remains for re-test of said support, break needed to extend decline to 1.0755/60.
On the upside, only a daily close above 1.0938 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.
Data to be released on Friday:
Japan current account, trade balance, consumer confidence, Eco watchers current, Eco watchers outlook.
Italy retail sales.
Canada unemployment rate, employment change, U.S. wholesale sales and wholesale inventories.
AceTraderFx Apr 11: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 11 Apr 2022 03:00GMT
EUR/USD - 1.0887
Euro’s selloff from 1.1184 (Thursday) to a 1-month bottom at 1.0837 on continued usd’s strength due to rally in U.S. yields suggests early correction from March’s 22-month bottom at 1.0807 has ended and as 1.0934 has capped rebound in New Zealand today, consolidation with downside bias remains for re-test of 1.0837, break would extend said decline towards 1.0807 again.
On the upside, only a daily close above 1.0938 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.
Data to be released today:
New Zealand retail sales, China CPI, PPI.
U.K. construction output, manufacturing output, industrial output, GDP, trade balance.
Canada leading index on Monday.
AceTraderFx Apr 12: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 12 Apr 2022 03:00GMT
EUR/USD - 1.0881
Euro’s selloff from 1.1184 (Thursday) to a 1-month bottom at 1.0837 on continued usd’s strength due to rally in U.S. yields suggests early correction from March’s 22-month bottom at 1.0807 has ended and as price has fallen again after yesterday’s gap-up open to 1.0934 in New Zealand, consolidation with downside bias remains for re-test of 1.0837, break, 1.0807 later.
On the upside, only a daily close above 1.0934/38 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.
Data to be released on Tuesday:
Japan producer prices, Australia NAB business confidence, NAB business conditions.
U.K. BRC retail sales, average weekly earnings, employment change, ILO unemployment rate, claimant count,
Germany HICP, CPI, ZEW current conditions, ZEW economic sentiment, France exports, imports, trade balance, current account, EU ZEW survey expectation.
U.S. CPI, redbook and Federal budget.
AceTraderFx Apr 13: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2022 03:00GMT
EUR/USD - 1.0823
Euro’s selloff from 1.1184 (Thur) to 1.0837 on Mon and yesterday’s break there to a fresh 1-month bottom at 1.0822 in New York on continued usd’s strength due to rally in U.S. yields suggests early correction from Mar’s 22-month bottom at 1.0807 has ended and downside bias remains for re-test of 1.0807, break would recent downtrend to 1.0760.later.
On the upside, only a daily close above 1.0903 signals a temporary bottom is in place and risks stronger retracement towards 1.0933/38, break, 1.0961.
Data to be released on Wednesday:
New Zealand food price index, RBNZ interest rate decision, Japan machinery orders, Australia consumer sentiment, China trade balance, imports, exports.
U.K. PPI output prices, PPI input prices, RPI, CPI, DCLG house price, Italy industrial output.
U.S. MBA mortgage application, PPI and Canada interest decision.
AceTraderFx Apr 14: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 14 Apr 2022 03:00GMT
EUR/USD - 1.0889
Despite euro’s selloff below 1.0822 (Tuesday) to a fresh 1-month bottom at 1.0809 in New York morning, subsequent rally to 1.0894 on broad-based usd’s retreat due to fall in U.S. yields suggests stronger retracement to 1.0933/38 would be seen before prospect of another decline, below below 1.0807, 1.0760.
On the upside, a daily close above 1.0988 would signal a temporary bottom is in place and risk stronger gain to 1.1020/30.
Data to be released on Thursday :
New Zealand manufacturing PMI, Australia unemployment rate, employment change, Japan industrial production.
U.K. RICS housing price balance, Germany wholesale price index, Swiss producer/import price, EU ECB deposit rate, ECB refinancing rate.
U.S. retail sales, continuing jobless claims, initial jobless claims, imports prices, export prices, University of Michigan sentiment, business inventories, Canada wholesale trade and manufacturing sales.
DAILY MARKET OUTLOOK on Major