AceTraderForex Apr 22: Daily Market Outllook on Major -EUR/USD

Trading Discussion Currencies
1355

AceTraderFx May 19: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 19 May 2022 03:00GMT

EUR/USD - 1.0479
Euro’s selloff from 1.0563 to 1.0461 in New York yesterday on renewed safe-haven usd’s buying due to fall in U.S. yields and U.S. stocks suggests recent corrective upmove from last Friday’s fresh 5-year bottom at 1.0350 has ended there and below 1.0438/42 would yield further weakness to 1.0390/00 later.

On the upside, only a daily close above 1.0495/00 may risk stronger recovery to 1.0530/40.

Data to be released on Thursday:
Japan machinery orders, exports, imports, trade balance, Australia employment change, unemployment rate.
EU current account, construction orders.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, existing home sales, leading index, Canada new housing price index and producer prices.

1356

AceTraderFx May 20: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 20 May 2022 03:00GMT

EUR/USD - 1.0578
Although euro’s rally above 1.0563 (Wednesday) to 1.0608 in New York yesterday on broad-based weakness in usd due to fall in U.S. yields suggests recent corrective upmove from last Friday’s 5-year bottom at 1.0350 would extend marginally and gain towards 1.0625 may be seen, reckon 1.0641 would remain intact and yield retreat due to loss of momentum.

On the downside, a daily close below 1.0541 would signal top is possibly made and further weakness to 1.0507/10 is seen Mon.

Data to be released on Friday:
New Zealand imports, trade balance, exports, Japan nationwide CPI.
U.K. Gfk consumer confidence, PSNB, retail sales, Germany producer prices and Swiss industrial production.

1357

AceTraderFx May 23: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 23 May 2022 03:00GMT

EUR/USD - 1.0579
Euro’s retreat from 1.0598 to 1.0534 in New York on Fri suggests corrective upmove from May’s fresh 5-year bottom at 1.0350 has made a temporary top at Thur’s near 2-week peak at 1.0608 and minor consolidation is seen, a daily close below 1.0534 would yield weakness towards 1.0507, then 1.0461/66.

On the downside, only above 1.0598 would bring re-test of 1.0608 but loss of momentum should cap euro below 1.0641 and yield retreat later.

Data to be released later :
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index and Canada Market Holiday on Monday.

1358

AceTraderFx May 24: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 24 May 2022 03:00GMT

EUR/USD - 1.0678
Euro’s rally above last week’s high at 1.3608 (Thursday) to as high as 1.3697 in New York Monday on hawkish comments from ECB’s Lagarde suggests corrective upmove from May’s 5-year bottom at 1.0350 would extend towards 1.0738 but reckon 1.0762/67 should cap upside and yield retreat today.

On the downside, only a daily close below 1.0641 would signal a temporary top is made and risk weakness towards 1.0608, break, 1.0563.

Data to be released on Tuesday:
New Zealand retail sales, Australia S&P Global manufacturing PMI, S&P Global services PMI.
U.K. Rightmove house price, PSNB, PSNCR, S&P Global manufacturing PMI, S&P Global services PMI, CBI distributive trade, France business climate, S&P Global manufacturing PMI, S&P Global services PMI, Germany S&P Global manufacturing PMI, S&P Global services PMI, EU S&P Global manufacturing PMI, S&P Global services PMI.
U.S. building permits, redbook, S&P Global manufacturing PMI, S&P Global services PMI , new home sales and Richmond Fed manufacturing.

1359

AceTraderFx May 25: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 25 May 2022 03:00GMT

EUR/USD - 1.0728
Although euro’s rally above 1.0697 (Mon) to a 1-month peak at 1.0748 in New York after hawkish comments from ECB’s Lagarde suggests upmove from May’s 5-year bottom at 1.0350 would extend marginally, reckon 1.0770/75 would remain intact and yield prospect of another fall due to loss of momentum.

On the downside, daily close below 1.0697 would indicate a temporary top is in place and yield weakness towards 1.0662, break, 1.0608/10 later.

Data to be released on Wednesday:
Australia construction work done, New Zealand RBNZ interest rate decision, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer confidence, France consumer confidence, Swiss investor sentiment, U.S. mortgage application, durable goods, durables ex-transport and durables ex-defense.

1360

AceTraderFx May 26: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 26 May 2022 03:00GMT

EUR/USD - 1.0700
Euro’s strong retreat from Tue’s 1-month peak at 1.0748 to as low as 1.0643 at New York open yesterday on rebound in usd suggests upmove from May’s 5-year bottom at 1.0350 has made a temporary top there and weakness to 1.0620/25 is envisaged after consolidation, break would extend towards 1.0588 later next week.

On the upside, only a daily close above 1.0723 would risk stronger gain towards 1.0748, break, 1.0771.

Data to be released on Thursday:
Australia capital expenditure, building carpex.
Germany Market Holiday, France Market Holiday, Swiss Market Holiday, Italy business confidence, consumer confidence, industrial sales.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing, Canada retail sales and average weekly earnings.

1361

AceTraderFx May 27: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 27 May 2022 03:00GMT

EUR/USD - 1.0737
Euro’s strong rebound from 1.0663 to 1.0731 in New York on broad-based usd’s weakness due to rally in U.S. stocks suggests pullback form Tue’s 1-month 1.0748 peak has possibly ended and above would extend upmove from May’s 5-year bottom at 1.0350 to 1.0780/90, however, loss of momentum should cap price below 1.0807 and yield decline later.

On the downside, only a daily close below 1.0690/95 would indicate a temporary top possibly made and yield weakness towards 1.0663, then 1.0643 Mon.

Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales, Italy trade balance.
U.S. personal income, personal spending, PCE price index, goods trade balance, wholesale inventories, University of Michigan sentiment and Canada budget balance.

1362

AceTraderFx May 30: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 30 May 2022 03:00GMT

EUR/USD - 1.0734
Although euro’s retreat from Fri’s 1-month peak at 1.0764 signals corrective upmove from May’s 5-year bottom at 1.0350 has ended, subsequent strong bounce to 1.0750 in New York on risk sentiment suggests choppy swings would be seen and above 1.0764 would extend to 1.0787/92 before decline due to loss of momentum.

On the downside, a daily close below 1.0698 would revive bearishness for weakness towards 1.0643, break, 1.0608 later.

Data to be released later today :
Germany import prices, Swiss non-farm payrolls, KOF indicator, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada current account.
U.S. Market Holiday on Monday.

1363

AceTraderFx May 31: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2022 03:00GMT

EUR/USD - 1.0747
Euro’s intra-day strong retreat in Asia on broad-based rebound in usd suggests recent corrective upmove from May’s 5-year bottom at 1.0350 has possibly made a temporary top at yesterday’s fresh 1-month peak at 1.0786 and further weakness to 1.0727/31 would be seen, below would head towards 1.0698, 1.0663 later.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk one more rise towards 1.0807.

Data to be released on Tuesday :
New Zealand building permits, NBNA business outlook, NBNA own activity, Japan unemployment rate , industrial production, retail sales, consumer confidence, construction orders, Australia building permits, business inventories, current account, net exports contribution, China NBS manufacturing PMI, NBS non-manufacturing PMI.
U.K. nationwide house price, Swiss exports, imports, trade balance, retail sales, GDP, France consumer spending, GDP, CPI, producer prices, Germany unemployment rate, unemployment change, Italy GDP, CPI, EU HICP, Canada GDP.
U.S. monthly home price, Chicago PMI, consumer confidence and Dallas Fed manufacturing business index.

1364

AceTraderFx Jun 01: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2022 03:00GMT

EUR/USD - 1.2611
Although euro’s selloff from Mon’s fresh 1-month peak at 1.0786 to as low as 1.0680 in New York Tue on broad-based usd’s rebound in tandem with U.S. yields suggests correction from May’s 5-year bottom at 1.0350 has made a temporary top there, subsequent strong rebound on retreat in usd would yield consolidation before prospect of another fall, below 1.0680 would bring stronger retracement towards 1.0643.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk stronger gain towards 1.0807

Data to be released on Wednesday:
Australia AIG manufacturing index, manufacturing PMI, GDP.
U.K. BRC shop price index, S&P Global manufacturing PMI, Japan business capex, Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, S&P Global manufacturing PMI, France budget balance, S&P Global manufacturing PMI, Swiss manufacturing PMI, Italy S&P Global manufacturing PMI, unemployment rate, EU S&P Global manufacturing PMI, unemployment rate.
U.S. mortgage application, ADP employment change, redbook, S&P Global manufacturing PMI, construction spending, ISM manufacturing PMI, JOLTS job openings, Canada BOC rate decision and S&P Global manufacturing PMI.

1365

AceTraderFx Jun 02: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2022 03:00GMT

EUR/USD - 1.0646
Euro’s selloff from Monday’s 1-month 1.0786 high to 1.0680 Tuesday and yesterday’s break there to as low as 1.0628 in New York on rally in usd in tandem with US yields suggests correction from May’s 5-year trough of 1.0350 has made a temporary top there and further weakness towards 1.0608 would be seen but oversold condition should keep price above 1.0568 and yield rebound.

On the upside, only a daily close above 1.0680 would indicate pullback over and risk stronger gain towards 1.0706 before down.

Data to be released on Thursday:
New Zealand import prices, export prices, Australia trade balance, imports, exports.
Swiss CPI, U.K. Market Holiday, Italy Market Holiday, EU producer prices.
Canada building permits, U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durables goods, durable ex-transport and factory orders.

1366

AceTraderFx Jun 06: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 06 Jun 2022 03:00GMT

EUR/USD - 1.0722
Euro’s selloff from last Monday’s 1-month peak at 1.0786 to 1.0628 Wed suggests corrective upmove from May’s 20-year bottom at 1.0350 has made a top and despite Fri’s strong rebound to 1.0764, subsequent retreat to 1.0705 in post-NFP New York on broad-based usd’s strength would head back to 1.0660/65, break would yield re-test of 1.0628.

On the upside, only a daily close above 1.0764 aborts bearishness on euro and risks stronger gain towards 1.0786.

Data to be released today:
New Zealand Market Holiday, China Caixin services PMI.
France Market Holiday, Germany Market Holiday and Swiss Market Holiday on Monday.

1367

AceTraderFx Jun 07: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2022 03:00GMT

EUR/USD - 1.0689
Euro’s selloff from last Mon’s 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May’s fresh 5-year bottom at 1.0350 has made a top there and despite subsequent strong rebound to 1.0764 Fri, yesterday’s retreat from 1.0751 to 1.0685 in New York on broad-based usd’s strength due to rally in US yields has retained bearishness for 1.0660, 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Tuesday:
Australia AIG services index, RBA interest rate decision, Japan coincident index, leading indicator, all household spending.
U.K. BRC retail sales, S&P Global services PMI, Germany industrial orders, EU sentix index.
U.S. trade balance, redbook, Canada trade balance, imports, exports, Ivey PMI and New Zealand GDT price.

1368

AceTraderFx Jun 08: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2022 03:00GMT

EUR/USD - 1.0696
Euro’s selloff from last Mon’s 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May’s fresh 5-year bottom at 1.0350 has made a top there and despite strong rebound to 1.0764 Fri, subsequent retreat to 1.0653 in New York Tue and then rebound would yield range trading before prospect of another fall, below 1.0653 would yield 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Wednesday:
Japan current account, trade balance, GDP, eco watchers current, eco watchers outlook.
Swiss unemployment rate, U.K. Halifax house prices, S&P construction PMI, Germany industrial output, France trade balance, imports, exports, Italy retail sales, EU employment, GDU.
U.S. MBA mortgage application, wholesale inventories and wholesale sales.

1369

AceTraderFx Jun 09: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 09 Jun 2022 03:00GMT

EUR/USD - 1.07416
Euro’s selloff from last Monday’s 1-month peak at 1.0786 to as low as 1.0628 (Wednesday) suggests upmove from May’s fresh 5-year bottom at 1.0350 has made a top there and despite strong rebound from 1.0653 (Tuesday) to 1.0748 in New York yesterday, subsequent retreat on usd’s rebound signals downside bias remains and below 1.0653 would head towards 1.0628.

On the upside, only a daily close above 1.0764 would risk stronger gain towards 1.0786 but 1.0807 should hold initially.

Data to be released on Thursday:
China exports, imports, trade balance, Japan machine tool orders.
U.K. RICS housing price balance, France non-farm payrolls, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claim and continuing jobless claims.

1370

AceTraderFx Jun 10: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 10 Jun 2022 03:00GMT

EUR/USD - 1.0614
Despite euro’s rally above 1.0764 (Fri) to 1.0773 on ECB’s hawkish hold, subsequent selloff after ECB Lagarde’s presser and then break of previous support at 1.0628 suggests fall from May’s 1-month 1.0786 peak to correct rise from 1.0350 (May low) would head towards 1.0578.

On the upside, only above 1.0653 would signal temporary low made and risk stronger gain to 1.0670/80 before down.

Data to be released on Friday:
New Zealand retail sales, manufacturing sales, Japan producer prices, China PPI, CPI.
Italy industrial sales, U.K. consumer inflation.
U.S. CPI, University of Michigan sentiment, Federal budget, Canada capacity, employment change and unemployment rate.

1371

AceTraderFx Jun 13: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 13 Jun 2022 03:00GMT

EUR/USD - 1.0490
Euro’s selloff from 1.0773 in post-ECB below previous week’s 1.0628 low to 1.0612 Thursday, then further weakness to as low as 1.0507 Friday due to broad-based rally in usd and intra-day break there in New Zealand suggests correction from May’s 5-year bottom at 1.0350 has ended and further weakness towards 1.0461 would be seen but 1.0430/35 should hold.

On the upside, only a daily close above 1.0570/75 may risk stronger retracement towards 1.0612.

Data to be released today:
Australia Market Holiday.
UK GDP, trade balance, construction, manufacturing output, industrial output, NISER GDP.
Canada leading index on Monday.

1372

AceTraderFx Jun 14: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 14 Jun 2022 03:00GMT

EUR/USD - 1.0411
Euro’s selloff from Thursay’s post-ECB 1.0773 high to 1.0507 last Friday and yesterday’s break there to a near 1-month bottom at 1.0400 due to safe-haven usd’s buying on global stock market rout and rally in US yields suggests re-test of May’s 5-year trough at 1.0350 would be seen, break, 1.0310/20 later.

On the upside, only a daily close above 1.0507 would indicate a temporary low is in place and risk stronger retracement towards 1.0535.

Data to be released on Tuesday:
New Zealand food price index, Australia house price index, NAB business conditions, NAB business confidence, Japan industrial production, capacity utilization/
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany CPI, ZEW economic sentiment, ZEW economic conditions, EU ZEW survey expectations.
Canada manufacturing sales, U.S. PPI and redbook.

1373

AceTraderFx Jun 15: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 15 Jun 2022 03:00GMT

EUR/USD - 1.0428
Although euro’s selloff from Thur’s post-ECB 1.0773 high to a near 1-month bottom at 1.0398 in Asia Tue due to active safe-haven usd’s buying on global stock market rout and rally in US yields suggests re-test of May’s 5-year trough at 1.0350 would be seen, subsequent rebound would yield range trading and below would extend towards 1.0320.

On the upside, only a daily close above 1.0507 would indicate a temporary trough is in place and risk stronger retracement towards 1.0535, then 1.0550.

Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, tertiary industry activities, Australia consumer sentiment, China industrial output, retail sales.
Germany wholesale price index, Swiss producer/import price, France CPI, EU trade balance, industrial production.
U.S. MBA mortgage application, NY Fed manufacturing, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed interest rate decision and Canada housing starts.

1375

AceTraderFx Jun 16: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 16 Jun 2022 03:00GMT

EUR/USD - 1.0463
Despite euro’s selloff from 1.0507 (Europe) and then break of 1.0398 (Tuesday) to a 1-month bottom at 1.0360 in post-FOMC New York on the 75 bps rate hike from the Federal Reserve, subsequent strong rebound on profiting-taking in usd suggests choppy consolidation would be seen, reckon 1.0507 would cap upside and yield decline.

On the downside, a daily close below 1.0360 would yield re-test of May’s 5-year trough at 1.0350, break, 1.0320.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, Australia consumer inflation expectation, employment change, unemployment rate, China house price.
Swiss SNB interest rate decision, Italy CPI, EU labor costs, UK BOE interest rate decision, asset purchase program, BOE QE total, BoE QE Corp Bond Purchases, BOE MPC vote hike, BOE MOC vote unchanged, BOE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and Canada wholesale sales.