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

Trading Discussion Currencies
1396

AceTraderFx July 18: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 18 July 2022 03:00GMT

EUR/USD - 1.0096
Euro’s rally above 1.0048/52 resistance to 1.0097 in New York Friday on broad-based retreat in usd suggests recent erratic decline has made a temporary bottom there, however, reckon 1.0122 would cap present rise and yield another decline, below 1.0048/50 would head to 1.0007/10 but below needed to extend towards 0.9985 later.

On the upside, only a daily close above 1.0140 would risk stronger retracement towards 1.0190.

Data to be released today:
New Zealand business NZ PSI, CPI, Japan Market Holiday.
Italy trade balance, Canada housing starts.
U.S. NAHB housing market index on Monday.

1397

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

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

EUR/USD - 1.0139
Although euro’s erratic rise from 1.0082 (Europe) Mon and then break of 1.0122 resistance to 1.0101 in New York on broad-based usd’s weakness signals recent downtrend has made a temporary low at Thursday’s 20-year trough at 0.9953, loss of momentum would limit gain to 1.0221, below 1.0097/00 signals correction over and heads back towards 1.0052.

On the upside, only a daily close above 1.0201 would revive bullishness for one more rise to 1.0220/25 later.

Data to be released on Tuesday:
U.K. Rightmove house price, claimant count, ILO unemployment rate, average weekly earnings, Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. building permits, housing starts, redbook and New Zealand GDT price.

1398

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

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

EUR/USD - 1.0239
Despite resumption of long term downtrend to a fresh 24-year bottom at 0.9853 last Thur, subsequent rise to 1.0201 Monday, then rally to 1.0268 Tuesday on Reuters report of a possible 0.5% ECB’s rate hike signals long-overdue correction has taken place but loss of momentum should cap price at 1.0215 and yield another retreat later today or tomorrow.

On the downside, a daily close below 1.0201 would signal a temporary top is in place and yield weakness towards 1.0121.

Data to be released on Wednesday:
Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, Germany producer prices, EU current account, consumer confidence.
U.S. MBA mortgage application, existing home sales, Canada CPI and producer prices.

1399

AceTraderFx July 21: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 21 July 2022 03:00GMT

EUR/USD - 1.0188
Although euro’s erratic fall from Wednesday’s 2-week high of 1.0273 to as low as 1.0156 (New York) due to political turmoil in Italy and broad-based rebound in usd in tandem with U.S. yields suggests 1st leg of correction from July’s 20-year bottom at 0.9953 has possibly ended, intra-day recovery would bring sideways swings ahead of expected ECB’s 0.5% rate hike decision later today.

A firm break of 1.0156 would head back towards 1.0082 while above 1.0252 may bring re-test of 1.0273, however, loss of upward momentum should cap price at 1.0300.

Data to be released on Thursday :
New Zealand imports, exports, trade balance, Japan exports, imports, trade balance, BOJ interest rate decision, Australia NAB business confidence.
U.K. PSNB, PSNCR, France business climate, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada new housing price index and U.S. leading index.

1400

AceTraderFx July 22: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 22 July 2022 03:00GMT

EUR/USD - 1.0212
Despite euro’s jump n then a marginal break of Wednesday’s 1.0173 top to a 2-week peak at 1.0278 on ECB’s 0.5% rate hike, subsequent brief but sharp drop to 1.0155 and then rebound on usd’s weakness due to selloff in U.S. yields in late New York would yield further choppy swings and above 1.0237/40 would re-test 1.0278, break, 1.0315/20.

On the downside, a daily close below 1.0155 needed to revive bearishness for weakness towards 1.0121, then 1.0082.

Data to be released on Friday:
Australia S n P manufacturing PMI, S n P global services PMI.
U.K. Gfk consumer confidence, retail sales, Japan nationwide CPI, Jibun bank manufacturing PMI, Jibun bank services PMI, France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, U.K. S n P manufacturing PMI, S n P global services PMI.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.

1401

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

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

EUR/USD - 1.0195
Despite euro’s strong retreat from Thursday’s 2-week top at 1.0278 to 1.0131 (Europe) on Friday, subsequent rally back to 1.0255 in New York afternoon on broad-based usd’s weakness suggests pullback over and rise from July’s 20-year trough at 0.9953 may head towards projected target at 1.0316 before decline due to loss of momentum.

On the downside, only a daily close below 1.0180/90 would risk re-test of 1.0131/36, break would head to 1.0080/85.

Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders, CBI business optimism.
U.S. national activity and Dallas Fed manufacturing business index on Monday.

1402

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

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

EUR/USD - 1.0212
Although euro’s rebound from 1.0131 (Friday) to 1.0257 in New York yesterday suggests pullback from Thursday’s 2-week peak at 1.0278 over, subsequent retreat on negative Nord Stream news would bring further sideways swings before up and above 1.0278 would extend rise from 0.9953 to 1.0300/10.

On the downside, only a daily close below below 1.0155 would risk weakness towards 1.0131, break would head to 1.0082.

Data to be released on Tuesday:
U.K. CBI distributive trades.
U.S. building permits, redbook, monthly home price, consumer confidence, new homes sales and Richmond Fed manufacturing.

1403

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

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

EUR/USD - 1.0137
Euro’s selloff on Tuesday from 1.0250 and then break of Friday’s 1.0131 low to as low as 1.0108 in New York on broad-based rebound in usd signals 1st leg of correction from mid-July’s 20-year bottom at 0.9953 has ended at 1.0278 (Thursday) and weakness to 1.0077
is seen, reckon 1.0048/50 would remain intact.

On the upside, only a daily close above 1.0180 would prolong choppy sideways swings and risk stronger gain towards 1.0204, then 1.0250/57.

Data to be released on Wednesday:
Australia CPI, Japan coincident index, leading indicator
U.K. BRC shop price index, Germany Gfk consumer sentiment, France consumer confidence, Italy business confidence, consume confidence, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense, goods trade balance, wholesale inventories, pending home sales and Fed interest rate decision.

1404

AceTraderFx July 28: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 28 July 2022 03:00GMT

EUR/USD - 1.0181
Despite euro’s erratic fall from last Thurday’s 2-week high of 1.0278 to retrace rise from July’s 20-year bottom at 0.9953 to 1.0097 in post-FOMC, subsequent rally on broad-based usd’s weakness due to less hawkish comments by Fed’s Powell suggests pullback possibly over, above 1.0257 would yield stronger gain to 1.0295/00.

On the downside, only below 1.0150/55 would risk another fall towards 1.0097.

Data to be released on Thursday:
Australia retail sales, export prices, import prices.
France producer prices, Italy industrial sales, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer sentiment, Germany CPI.
US GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

1405

AceTraderFx July 29: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 29 July 2022 03:00GMT

EUR/USD - 1.0199
Euro’s rally in post-FOMC New York at 1.0097 to 1.0220 Wednesday, then to 1.0234 in Europe yesterday suggests pullback from last Thursday’s 2-week peak at 1.0278 has possibly ended, despite a sharp fall to 1.0115 at New York open, subsequent rise to 1.0199 may head to 1.0250/57 before another decline.

On the downside, only a daily close below 1.0115 would risk weakness towards 1.0097, break would extend to 1.0082.

Data to be released on Friday:
Japan Tokyo CPI, unemployment rate, industrial output, retail sales, consumer confidence, construction orders, housing starts, Australia PPI.
France consumer spending, GDP, Germany GDP, import prices, unemployment change, unemployment rate, UK nationwide house price, Swiss retail sales, KOF indicator, France CPI, Italy GDP, CPI, EU HICP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.

1406

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

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

EUR/USD - 1.0218
Although euro’s erratic rise from last week’s 1.0097 low (Wednesday) to as high as 1.0254 in Europe Friday suggests correction from 1.0278 has ended, subsequent strong retreat to 1.0147 in New York n then intra-day rebound on renewed usd’s weakness indicates upside bias remains, above 1.0254/57 would head towards 1.0278, break extends rise from July’s 20-year 0.9953 trough towards 1.0298.

On the downside, only a daily close below 1.0170/74 would risk weakness towards 1.0147, then 1.0097.

Data to be released today :
Australia AIG manufacturing index, S&P manufacturing PMI, New Zealand building permits, Japan Jibun Bank manufacturing PMI, China Caixin manufacturing PMI.
Germany retail sales, S&P manufacturing PMI, Swiss Market Holiday, France S&P manufacturing PMI, EU S&P manufacturing PMI, unemployment rate, Italy S&P manufacturing PMI, unemployment rate.
U.K. S&P manufacturing PMI, U.S. S&P manufacturing PMI, construction spending, ISM manufacturing PMI and Canada market holiday on Monday.

1407

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

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

EUR/USD - 1.0268
Although euro’s erratic rise from last week’s low at 1.0097 (Wed) to a 1-week high of 1.0275 in New York yesterday suggests correction from 1.0278 has ended, subsequent retreat may yield further choppy swings and below 1.0226 (New York low) would head towards 1.0206, break, 1.0165/70.

On the upside, a daily close above 1.0278 is needed to extend rise from 0.9953 (July) to 1.0320/25 later.

Data to be released on Tuesday:
Australia building permits, RBA interest rate decision, New Zealand GDT price.
U.K. Nationwide house price, Swiss consumer confidence, manufacturing PMI.
U.S. redbook, JOLTS job openings, Canada S&P manufacturing PMI.

1408

AceTraderFx Aug 03: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.0157
Despite euro’s brief rise above previous 1.0278 resistance to a near 4-week high of 1.0293 (Asia) Tuesday, intra-day selloff on safe-haven usd’s bid due to US/China tension, then weakness to 1.0164 on hawkish Fed speak suggests rise from 0.9953 (July) has made a top but below 1.0082/97 support is needed for weakness towards 1.0050.

On the upside, only a daily close above 1.0216 would risk stronger gain towards 1.0254 but 1.0293 should remain intact.

Data to be released on Wednesday:
Australia AIG construction index, S&P Global services PMI, retail sales, New Zealand employment change, unemployment rate, labor costs index, Japan Jibun bank services PMI, China Caixin services PMI.
Germany exports, imports, trade balance, current account, S&P Global services PMI, Swiss CPI, France budget balance, S&P Global services PMI, Italy S&P Global services PMI, retail sales, EU S&P Global services PMI, producer prices, retail sales, UK S&P Global services PMI.
U.S. MBA mortgage application, S&P Global services PMI, durable goods, durable ex-defense, durable ex-transport, factory orders and ISM non-manufacturing PMI.

1409

AceTraderFx Aug 04: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 04 Aug 2022 03:00GMT

EUR/USD - 1.0158
Despite euro’s brief rise above previous 1.0278 resistance to a near 4-week high of 1.0293 (Asia) Tuesday, subsequent selloff to as low as 1.0124 in New York morning Wed on broad-based usd’s rebound signals corrective rise from July’s 20-year bottom has
possibly ended, below 1.0083 would head to 1.0048/50.

On the upside, a daily close above 1.0216/20 may prolong choppy swings and risk stronger gain to 1.0250/54.

Data to be released on Thursday:
Australia trade balance, imports, exports.
Germany industrial orders, U.K. S&P construction PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchases, BOE MPC rate hike, BOE MPC rate unchanged, BOE MPC rate cut.
U.S. international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada building permits, trade balance, exports and imports.

1410

AceTraderFx Aug 05: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 05 Aug 2022 03:00GMT

EUR/USD - 1.0240
Despite euro’s retreat from Tue’s near 4-week high of 1.0293 to 1.0124 (Wednesday), subsequent rebound to 1.0253 in New York yesterday on broad-based usd’s weakness suggests choppy swings would continue ahead of key U.S. jobs report, above 1.0293 needed to extend rise from July’s 0.9953 bottom to 1.0334, break, 1.0360.

On the downside, only a daily close below 1.0209 signals intra-day top is made n heads back to 1.0161 (New York low), 1.0124.

Data to be released on Friday:
Australia AIG services index, Japan all household spending, coincident index, leading indicator.
UK Halifax housing prices, France current account, trade balance, industrial output, imports, exports, non-farm payrolls, Italy industrial output.
U.S. non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, Canada employment change, unemployment rate and Ivey PMI.

1411

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

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

EUR/USD - 1.0166
Euro’s decline from Tuesday’s near 4-week 1.0293 peak to 1.0124 (Wednesday) suggests recent rise from July’s 20-year bottom at 0.9953 has made a top and despite staging a strong bounce to 1.0253 on Thursday, subsequent selloff to 1.0142 on blowout U.S. NFP Friday would re-test 1.0124, 1.0090/95 but 1.0048/50 may hold.

On the upside, only a daily close above 1.0209 would prolong choppy swings and risk gain to 1.0235/39 before down.

Data to be released today :
Japan current account, trade balance, Eco watchers current, Eco watchers outlook, New Zealand inflation forecast, Swiss unemployment and EU Sentix index on Monday.

1412

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

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

EUR/USD - 1.0198
Euro’s decline from Tue’s near 4-week peak at 1.0293 to 1.0124 (Wednesday) suggests recent upmove from July’s 20-year bottom at 0.9953 has made a top and despite staging a rebound to 1.0253 Thursday, selloff to 1.0142 on Friday and then Monday’s rebound to 1.0221 on broad-based usd’s weakness in tandem with U.S. yields would yield further choppy swings before fall. Below 1.0124/30, 1.0097 later.

On the upside, only a daily close above 1.0221 would bring stronger gain to 1.0240/50 but 1.0290/95 should hold.

Data to be released on Tuesday:
New Zealand retail sales, Australia NAB business conditions, NAB business confidence.
U.K. BRC retail sales.
U.S. labor costs, productivity and redbook retail sales.

1413

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

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

EUR/USD - 1.0206
Euro’s fall from last Tuesday’s near 4-week 1.0293 top to 1.0124 (Wednesday) suggests recent upmove from July’s 20-year bottom at 0.9953 has made a top n despite rebound to 1.0253, weakness to 1.0142 Friday, then gain to 1.0247 yesterday would prolong further choppy swings before down, below 1.0124, 1.0097 later.

On the upside, only a daily close above 1.0253 would risk stronger gain towards 1.0293 but break needed for 1.0350.

Data to be released on Wednesday:
Japan producer prices, Australia consumer sentiment, China PPI, CPI.
Germany CPI, Italy CPI, U.S. MBA mortgage application, CPI, wholesale inventories and Federal budget.

1414

AceTraderFx Aug 11: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 11 Aug 2022 03:00GMT

EUR/USD - 1.0301
As euro’s recent daily choppy swings from August’s 1.0293 high had ended with Wednesday’s jump to a 5-week peak of 1.0368 after softer-than-expected U.S. CPI, suggesting rise from July’s 20-year 0.9953 bottom would head towards 1.0418 before prospect of a strong retreat later.

On the downside, only a daily close below 1.0265/70 would indicate a temporary top is in place and risk stronger retracement towards 1.0247, then 1.0203.

Data to be released on Thursday:
U.K. RICS housing price balance, Japan market holiday, Australia consumer inflation experience, U.S. initial jobless claims, continuing jobless claims and PPI.

1415

AceTraderFx Aug 12: Daily Recommendations on Major -EUR/USD

flag_eur DAILY MARKET OUTLOOK on Major
Update Time: 12 Aug 2022 03:00GMT

EUR/USD - 1.0314
Despite yesterday’s intra-day rally from 1.0276 (Asia) to 1.0365 in New York after slightly softer-than-expected U.S. PPI data, subsequent retreat on broad-based rebound in usd due to rally in U.S. yields suggests further choppy trading below Wednesday’s 5-week peak at 1.0368 would continue before prospect of marginal gain, loss of upward momentum should cap euro at 1.0400/10.

A daily close below 1.0275 would be the first signal recent upmove has formed a temporary top and risk stronger retracement towards 1.0203 on Monday.

Data to be released on Friday :
New Zealand manufacturing PMI, food price index/
France ILO unemployment rate, U.K. GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate, France CPI, Italy trade balance, EU industrial production, Germany current account.
U.S. import prices, export prices and University of Michigan sentiment.