AceTraderFx Apr 19: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2022 03:00GMT
EUR/USD - 1.0774
Euro’s selloff from last Thursday’s peak at 1.0923 to a near 2-year bottom at 1.0758 in post-ECB suggests medium term downtrend remains in force and as 1.0830 has capped subsequent recovery, yesterday’s retreat to 1.0771 on broad-based usd’s strength due to rally in U.S. yields suggests consolidation with downside bias remains, below 1.0758 would yield 1.0730/35.
On the upside, only a daily close above 1.0834 signals a temporary trough is in place and risks stronger gain to 1.0860/70.
Data to be released on Tuesday :
New Zealand business NZ PSI, GDT price index, Japan industrial production, capacity utilization.
Canada housing starts, U.S. housing starts, building permits and redbook.
AceTraderFx Apr 20: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2022 03:00GMT
EUR/USD - 1.0789
Euro’s break of 1.0771 (Mon) to 1.0762 in Asia Tuesday suggests recovery from last Thursday’s near 2-year bottom at 1.0758 has ended at 1.0830 the same day and as 1.0814 has capped subsequent rebound in Europe yesterday, bearishness remains for re-test of 1.0758, below would pressure price to 1.0720/22.
On the upside, only a daily close above 1.0813/14 would indicate a temporary trough is in place and risk stronger retracement towards 1.0834, 1.0855/60.
Data to be released on Wednesday:
Japan exports, imports, trade balance, tertiary industry activity, Australia Westpac leading index.
Germany producer prices, Italy trade balance, EU industrial production, trade balance.
U.S. MBA mortgage application, existing home sales, Canada new housing price index and CPI.
AceTraderFx Apr 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2022 03:00GMT
EUR/USD - 1.0842
Euro’s rally above 1.0834/37 resistance to 1.0867 in Europe on broad-based retreat in usd due to fall in U.S. yields suggests recent erratic decline has made a temporary bottom at last Thursday’s near 2-year bottom at 1.0758 and stronger retracement towards 1.0890/94 is likely before another fall, below 1.0807 would head back to 1.0783, then 1.0758/62 later.
On the upside, only a daily close above 1.0923 would risk stronger gain to 1.0938/45, break, 1.0965/70.
Data to be released on Thursday:
New Zealand CPI.
France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and EU consumer confidence.
AceTraderFx Apr 22: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 22 Apr 2022 03:00GMT
EUR/USD - 1.0839
Despite euro’s rally above 1.0867 (Wednesday) to a 2-week high of 1.0936 in Europe yesterday on hawkish comments from ECB’s de Guindos, subsequent selloff to 1.0830 in New York on renewed usd’s strength due to hawkish comments from Fed’s Powell suggests correction from last Thursday’s near 2-year 1.0758 bottom has ended and weakness towards 1.0805/10 is seen.
On the upside, only a daily close above 1.0893 indicates aforesaid pullback over and risks stronger gain to 1.0920/30.
Data to be released on Friday:
Australia manufacturing PMI, services PMI, Japan nationwide CPI Jibun bank manufacturing PMI, services PMI.
U.K. Gfk consumer confidence, retail sales, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI, EU current account.
Canada producer prices, retail sales, U.S. Markit manufacturing PMI and Markit services PMI.
AceTraderFx Apr 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2022 03:00GMT
EUR/USD - 1.0805
Although euro’s selloff from last week’s high at 1.0936 (Thur) to as low as 1.0771 in New York morning Fri due to broad-based safe-haven buying in usd suggests correction from Apr’s near 2-year bottom at 1.0758 has ended, intra-day higher open to 1.0840 on news of election win by French President Macron Sun would bring ‘choppy’ swings.
As long as 1.0867 holds, daily downside bias remains for another fall, below 1.0771 would encourage for weakness to 1.0758/62 and only above 1.0867 risks stronger gain to 1.0880/90.
Data to be released later:
New Zealand Market Holiday, Australia Market Holiday, Japan coincident index, leading index.
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.
AceTraderFx Apr 26: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2022 03:00GMT
EUR/USD - 1.0715
Euro’s selloff below 1.0771 (Friday) to a fresh 2-year bottom at 1.0698 in New York yesterday on risk-averse usd buying suggests medium term decline remains in force and and further weakness towards 1.0670 is seen, reckon 1.0636 should hold and yield correction later.
On the upside, only a daily close above 1.0771 indicates a temporary trough is is in place and risks stronger retracement to 1.0800/10.
Data to be released on Tuesday:
U.K. right move house price, Japan unemployment rate, U.K. PSNB, PSNCR, Swiss exports, imports, trade balance.
U.S. building permits. durable goods, durable ex-transport, durables ex-defense, U.S. redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.
AceTraderFx Apr 27: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2022 03:00GMT
EUR/USD - 1.0640
Although euro’s selloff below 1.0698 (Monday) to 1.0637 in New York yesterday, then intra-day break there to a 5-year bottom at 1.0636 in Australia on continued usd’s strength suggests marginal weakness is seen, oversold condition should prevent steep fall today and yield a much-needed correction, above 1.0698 would head back to 1.0720 later.
On the downside, only a daily close below 1.0600/10 may dampen bullish prospect of view and risk further weakness towards 1.0571 before rebound.
Data to be released on Wednesday:
Australia CPI, Germany Gfk consumer sentiment.
Italy trade balance, Swiss investor sentiment.
U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales.
AceTraderFx Apr 28: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 28 Apr 2022 03:00GMT
EUR/USD - 1.0553
Euro’s resumption of decline to a 5-year bottom at 1.0515 in New York yesterday on continued usd’s strength suggests weakness to 1.0500 handle is envisaged but below needed to extend further fall to 1.0470/75 before prospect of correction later.
On the upside, only a daily close above 1.0654 would indicate a temporary bottom is in place and risk stronger retracement towards 1.0698, break, 1.0738.
Data to be released on Thursday:
New Zealand imports, trade balance, exports, NBNZ business outlook, NBNZ own activity, Australia export prices, import prices, Japan industrial output, retail sales, BOJ interest rate decision, construction orders, housing starts.
Italy business confidence, consumer confidence, industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.
AceTraderFx Apr 29: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2022 03:00GMT
EUR/USD - 1.0507
Euro’s selloff below 1.0515 (Wednesday) to a fresh 5-year bottom at 1.0472 in New York yesterday on continued usd’s strength suggests recent downtrend may extend towards 1.0436, however, reckon 1.0405/10 would contain downside and yield correction later today due to loss of downward momentum.
On the upside, only a daily close above 1.0586 indicates a temporary bottom is in place and risks stronger retracement to 1.0635/40 Mon.
Data to be released on Friday:
Australia PPI, Japan Market Holiday, China Caixin manufacturing PMI.
France consumer spending, GDP, CPI, producer prices, Germany import prices, export prices, GDP, U.K. nationwide house price, Swiss retail sales, KOF indicator, Italy GDP, CPI, producer prices, EU HICP, GDP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.
AceTraderFx May 03: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 03 May 2022 03:00GMT
EUR/USD - 1.0520
Euro’s decline to 1.0491 (New Yoyk) on Mon due to renewed usd’s strength on gain in U.S. yields suggests correction from Thursday’s 5-year bottom at 1.0472 has ended and re-test of this key sup is envisaged after consolidation, loss of downward momentum would limit weakness to 1.0435/40.
Only above 1.0568 prolongs choppy swings above 1.0472 and may risk gain towards 1.0592 but reckon 1.0630/35 should cap upside.
Data to be released on Tuesday :
New Zealand building permits, GDT price index, Australia RBA interest rate decision Japan Market Holiday, China Market Holiday.
France budget balance, Germany unemployment rate, unemployment change, U.K. Markit manufacturing PMI, EU producer prices, unemployment rate.
U.S. redbook, durable goods, durables ex-defense, factory orders, durables ex-transport, JOLTS job openings.
AceTraderFx May 04: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 04 May 2022 03:00GMT
EUR/USD - 1.0522
Although euro’s rebound to 1.0592 in Europe last Friday suggests long term decline has made a temporary bottom at Thursday’s fresh 5-year low at 1.0472, yesterday’s retreat from 1.0578 at New York open on renewed usd’s strength has retained bearishness and below 1.0472 would yield further weakness to 1.0428/33 later.
On the upside, only a daily close above 1.0578 would risk stronger retracement towards 1.0592, break would head to 1.0615/20 before prospect of another fall.
Data to be released on Wednesday:
Australia AIG construction index, services PMI, retail sales, New Zealand unemployment rate, employment change, labor cost index.
U.K. BRC shop price, Japan Market Holiday, China Market Holiday, Germany exports, imports, trade balance, current account, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage application, ADP employment change, international trade balance, good trade balance, Markit services PMI, ISM non-manufacturing PMI, Fed interest rate decision, Canada trade balance, exports and imports.
AceTraderFx May 05: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 05 May 2022 03:00GMT
EUR/USD - 1.0616
Euro’s rally above last Friday’s 1.0592 high to as high as 1.0631 in post-FOMC trading yesterday on broad-based profit taking in usd due to less hawkish comments from Fed’s Powell suggests recent erratic decline has made a temporary low at last Thursday’s 5-year 1.3472 bottom and stronger retracement to 1.0580/85 would be seen, however, overbought condition should cap price below 1.0704 and yield retreat later.
On the downside, only a daily close below 1.0578 would indicate aforesaid recovery over and yield weakness to 1.0507/12, break, 1.0490/95.
Data to be released on Thursday:
Japan Market Holiday, Australia building permits, trade balance, imports, exports, China Caixin Services PMI.
Germany industrial orders, Swiss CPI, France industrial output, U.K. Markit Services PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchase, BOE MPC vote cut, BOE MPC vote unchanged, BOE MPC vote hike.
U.S. initial jobless claims, continuing jobless claims, labor costs and productivity.
AceTraderFx May 06: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 06 May 2022 03:00GMT
EUR/USD - 1.0542
Despite euro’s rally to a 8-day high in Asia Thursday, subsequent selloff to as low as 1.0493 in New York on renewed broad-based rally in usd suggests recovery from last Thursday’s 5-year bottom at 1.0472 has possibly ended and below 1.0472 would extend recent downtrend to 1.0405/10.
On the upside, only a daily close above 1.0578/83 would prolongs choppy swings and risks stronger retracement to 1.0603, break, 1.0630/40
Data to be released on Friday:
Australia AIG services index, Japan Tokyo CPI.
Swiss unemployment rate, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, France non-farm payrolls, Italy retail sales.
U.S. Non-farm payrolls, private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.
AceTraderFx May 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 10 May 2022 03:00GMT
EUR/USD - 1.0562
Although euro’s retreat from last Thursday’s 8-day high of 1.0641 suggests recovery from April’s fresh 5-year bottom at 1.0472 has possibly ended, Friday’s rebound from 1.0483 to 1.0600 in New York and yesterday’s fall to 1.0496 at European open suggest further volatile swings above said support would continue before prospect of another fall, below 1.0483 would head towards 1.0472, then 1.0405/10.
On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.
Data to be released on Tuesday:
New Zealand retail sales, NAB business conditions, NAB business confidence.
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.
AceTraderFx May 11: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 11 May 2022 03:00GMT
EUR/USD - 1.0532
Although euro’s retreat from last Thursday’s 8-day high of 1.0641 suggests recovery from April’s fresh 5-year bottom at 1.0472 has possibly ended, subsequent daily volatile swings and yesterday’s retreat from 1.0585 in Europe signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.
On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.
Data to be released on Wednesday:
Australia Westpac consumer sentiment, China PPI, CPI, Japan coincident index, leading indicato,
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.
AceTraderFx May 12: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 12 May 2022 03:00GMT
EUR/USD - 1.0523
Although euro’s retreat from last Thursday’s 8-day high of 1.0641 suggests recovery from April’s fresh 5-year bottom at 1.0472 has possibly ended and despite yesterday’s wild swings in post-US CPI, subsequent retreat from 1.0576 on broad-based rebound in usd signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.
On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.
Data to be released on Thursday:
New Zealand food price index, inflation forecast, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, Australia consumer inflation, Swiss producer/import price.
U.K. RICS housing price balance, GDP, trade balance, construction output, manufacturing output, industrial output, NIESR GDP estimate.
U.S. initial jobless claims, continuing jobless claims and PPI.
AceTraderFx May 13: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 13 May 2022 03:00GMT
EUR/USD - 1.0379
Euro’s selloff below Apr’s 1.0472 low to a fresh 5-year bottom at 1.0355 in New York yesterday on broad-based usd’s strength due to risk-off trading suggests re-test of 2017 trough at 1.0341 would be seen, break would extend further weakness towards 1.0210 later next week.
On the upside, only a daily close above 1.0472 would indicate a temporary low is in place and risk stronger retracement to 1.0500/05.
Data to be released on Friday:
New Zealand manufacturing PMI.
France CPI, EU industrial production.
U.S. import prices, export prices and University of Michigan sentiment.
AceTraderFx May 16: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 16 May 2022 03:00GMT
EUR/USD - 1.0402
Although euro’s selloff below 1.0472 (Apr) to 1.0355 last Thursday and then break there to a fresh 5-year bottom at 1.0350 in New York Friday on continued usd’s strength signals recent decline would extend marginally, subsequent rebound suggests consolidation is in store and below said support would yield re-test of 2017 trough at 1.0341, break, 1.0309 later.
On the upside, only a daily close above 1.0443 would indicate a temporary low is in place and risk stronger retracement towards 1.0472 before down.
Data to be released later:
New Zealand business NZ PSI, China industrial order, retail sales, Japan machine tool orders.
Germany wholesales price index, EU trade balance.
Canada housing starts, manufacturing sales, wholesale trade, U.S. manufacturing on Monday.
AceTraderFx May 17: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 17 May 2022 03:00GMT
EUR/USD - 1.0444
Euro’s strong rebound from last Friday’s fresh 5-year bottom at 1.0350 to as high as 1.0442 in New York Monday on broad-based retreat in usd in tandem with U.S. yields suggests recent erratic decline has made a temp. low there and as long as 1.0390/91 holds, stronger retracement towards 1.0472 may be seen but reckon 1.0503 should cap upside and yield decline.
On the downside, only a daily close below 1.0390 would indicate aforesaid recovery over and heads towards 2017 1.0341 trough later this week.
Data to be released on Tuesday:
Japan tertiary industry activity.
France ILO unemployment rate, U,K. Claimant count, ILO unemployment rate, employment change, average weekly earnings, Italy trade balance, CPI, EU employment, GDP.
U.S. retail sales, redbook, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index and New Zealand GDT price index.
AceTraderFx May 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 18 May 2022 03:00GMT
EUR/USD - 1.0557
Euro’s rally above 1.0472 (Apr) to as high as 1.0555 in New York Tue on ECB Knot’s hawkish comments and intra-day break there on continued broad-based retreat in usd suggests corrective upmove from last Fri’s fresh 5-year bottom at 1.0350 would head towards 1.0585, however, loss of momentum would cap price at 1.0600/10 and yield retreat later this week.
On the downside, only a daily close below 1.0472 would signal a temporary top made and risk weakness towards 1.0442, break, 1.0419/20.
Data to be released on Wednesday:
New Zealand PPI, Japan GDP, industrial production, capacity utilization, Australia Westpac leading index, wage price index, China house price.
U.K. CPI, RPI, PPI input prices, PPI output prices, PPI core output prices, DCLG house price, EU HICP.
U.S. MBA mortgage application, building permits, housing starts and Canada CPI.