AceTraderFx Aug 15: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 15 Aug 2022 03:00GMT
EUR/USD - 1.0260
Despite euro’s rally above previous August’s 1.0293 high to a 5-week peak of 1.0368 (Wednesday), subsequent strong retreat to 1.0276 (Thursday) and then Friday’s selloff to 1.0239 in New York on cross-selling in euro and broad-based usd’s rebound signals medium term rise from July’s 20-year bottom at 0.9953 has possibly formed a top and below 1.0190 would head towards 1.0160.
On the upside, only a daily close above 1.0306 would risk stronger gain to 1.0342/47.
Data to be released today:
New Zealand NZ PSI, U.K. Rightmove house price, Japan GDP, industrial output, capacity utilization, China GDP, house prices, industrial output, retail sales.
Germany wholesales price index, France market holiday, Italy market holiday, Swiss producer/import price.
U.S. New York Fed manufacturing, NAHJB housing market index, Canada manufacturing sales and wholesale trades on Monday.
AceTraderFx Aug 16: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 16 Aug 2022 03:00GMT
EUR/USD - 1.0159
Despite euro’s rally above previous August’s 1.0293 high to a 5-week peak of 1.0368 last Wednesday, subsequent decline to 1.0239 Friday, then yesterday’s selloff to 1.0155 signals corrective rise from July’s 20-year 0.9953 low has possibly ended and would head towards 1.0112, reckon pivotal 1.0097 support would hold.
On the upside, only a daily close above 1.0223 would risk stronger gain to 1.0240/50.
Data to be released on Tuesday:
Japan Tertiary industry activities.
U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance, ZEW survey expectations, Germany ZEW economics sentiment, ZEW current conditions, Canada housing starts, CPI, U.S. building permits, housing starts, redbook, industrial output, capacity utilization and manufacturing output.
AceTraderFx Aug 17: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 17 Aug 2022 03:00GMT
EUR/USD - 1.0169
Despite euro’s rally above previous August’s 1.0293 high to a 5-week peak of 1.0368 last Wednesday, subsequent decline to 1.0239 Friday, then selloff to 1.0123 ahead of New York open yesterday signals rise from July’s 20-year 0.9953 low has possibly ended and as 1.0194 has capped rebound in New York, consolidation with downside bias remains but below 1.0112 needed for 1.0097.
On the upside, only a daily close above 1.0239 would prolong choppy swings and risk stronger gain to 1.0274/76.
Data to be released on Wednesday:
New Zealand PPI input, PPI output, RBNZ interest rate decision, Japan machinery orders, exports, imports, trade balance, Australia Westpac leading index, wage price index.
U.K. CPI, RPI, PPI input prices, PPI output prices, EU employment, GDP.
U.S. MBA mortgage application, retail sales and business inventories.
AceTraderFx Aug 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 18 Aug 2022 03:00GMT
EUR/USD - 1.0184
Despite euro’s rally above previous Aug’s 1.0293 high to a 5-week peak of 1.0368 last Wed, subsequent decline to 1.0123 (Tue) signals rise from Jul’s 20-year 0.9953 low has possibly ended, yesterday’s rebound to 1.0202 on less-hawkish FOMC minutes would yield range trading before fall and a daily close below 1.0112 would head towards 1.0097.
On the downside, only a daily close above 1.0202 may prolong choppy swings and risk stronger gain to 1.0223/33 before down.
Data to be released on Thursday:
Australia employment change, unemployment rate.
Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada producer prices, U.S. existing home sales and leading index change.
AceTraderFx Aug 19: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 19 Aug 2022 03:00GMT
EUR/USD - 1.0081
Euro’s recent decline from August’s 5-week high at 1.0368 to 1.0081 (New York) yesterday due to broad-based usd’s rally following hawkish comments by Fed officials suggests correction from July’s 20-year bottom at 0.9953 has ended and downside bias remains for further weakness, oversold condition would keep euro above 1.0007.
On the upside, only a daily close above 1.0123 (Tuesday low, now res) signals temporary low is made and may risk stronger retracement to 1.0178/88 on Monday.
Data to be released on Friday :
New Zealand imports, trade balance, exports, Japan nationwide CPI.
U.K. Gfk consumer confidence, Germany producer prices, U.K. PSNB GBP, PSNCR GBP, retail sales, Swiss industrial production, EU current account.
Canada retail sales.
AceTraderFx Aug 22: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 22 Aug 2022 03:00GMT
EUR/USD - 1.0032
Euro’s recent decline from August’s 1.0368 peak to a 1-month low of 1.0033 in New York last Friday due to broad-based usd’s strength in tandem with rally in U.S. yields suggests re-test of July’s 20-year bottom at 0.9953 would be seen later today or tomorrow before prospect of minor recovery.
On the upside, only a daily close abovw 1.0095 would risk retracement towards 1.0123.
Data to be released today :
U.S. national activity index and Canada new housing price index on Monday.
AceTraderFx Aug 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 23 Aug 2022 03:00GMT
EUR/USD - 0.9935
Yesterday’s selloff below Jul’s 0.9953 low to a fresh 20-year trough of 0.9927 and daily close below there due to usd’s broad-based strength suggests recent down-trend has finally resumed and would head to projected objective at 0.9851 which may hold due to oversold condition.
On the upside, only a daily close above 0.9990 would indicate a temporary trough is made and risk stronger retracement towards 1.0033.
Data to be released on Tuesday:
Australia manufacturing PMI, services PMI, Japan 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, consumer confidence, U.K. S n P manufacturing PMI, S n P global services PMI.
U.S. building permits, redbook, S n P manufacturing PMI, S n P global services PMI, new home sales, and Richmond Fed manufacturing.
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AceTraderFx Aug 24: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 24 Aug 2022 03:00GMT
EUR/USD - 0.9962
Euro’s break of July’s 0.9953 low to a fresh 20-year trough of 0.9927 Monday confirms long term downtrend has resumed and despite staging a strong rebound from 0.9001 (Europe) to 1.0018 in New York yesterday, subsequent retreat has retained daily bearishness and below 0.9901 would yield 0.9868.
On the upside, only a daily close above 1.0018 would risk stronger retracement of recent decline towards 1.0046, break, 1.0070/80.
Data to be released on Wednesday:
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense and pending home sales.
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AceTraderFx Aug 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 25 Aug 2022 03:00GMT
EUR/USD - 0.9972
Euro’s break of July’s 0.9953 low Mon to a fresh 20-year trough of 0.9901 Tue confirms long term downtrend has resumed, however, subsequent bounce to 1.0018, then fall to 0.9911 yesterday and intra-day rally to 1.0000 would yield further choppy swings before heading towards 0.9868.
On the upside, only a daily close above 1.0018 would indicate a temporary trough is made and risk stronger retracement towards 1.0046 but 1.0070/80 should cap upside.
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AceTraderFx Aug 26: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 26 Aug 2022 02:30GMT
EUR/USD - 0.9968
Euro’s break of July’s 0.9953 low Monday to a fresh 20-year trough of 0.9901 Tuesday confirms long term downtrend has resumed, however, subsequent bounce to 1.0018, then erratic rise to 1.0033 yesterday signals a temporary low is made, intra-day fall to 0.9950 would yield 0.9901, break, 0.9883.
On the upside, only a daily close above 1.0000 would risk stronger retracement of said decline towards 1.0033, 1.0071.
Data to be released on Friday:
Japan Tokyo CPI.
Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal spending, personal income, PCE prices index, goods trade balance wholesale inventories, University of Michigan sentiment and Canada budget balance.
AceTraderFx Aug 29: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 29 Aug 2022 03:00GMT
EUR/USD - 0.9935
As euro’s intra-day wild swings during Fed Powell’s Jackson Hole speech ended with price tumbling from 1.0089 to as low as 0.9957 due to broad-based safe-haven buying in the greenback, intra-day break of Friday’s 0.9947 low (Europe) would head towards August’s fresh 20-year bottom at 0.9901, a break there would extend recent downtrend to 0.9850/55 later.
On the upside, only above 1.0000 handle ‘prolongs’ choppy sideways swings above 0.9901 but reckon 1.0033 should cap upside.
Data to be released today:
Australia retail sales, Japan coincident index, leading index, U.K. market holiday and U.S. Dallas Fed manufacturing business index on Monday.
AceTraderFx Aug 30: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 30 Aug 2022 03:00GMT
EUR/USD - 1.0012
Despite euro’s follow-through selling initially on Monday after selloff from Friday’s 1.0089 high to 0.9914 ahead of European open, subsequent rally to 1.0028 in New York in reaction to hawkish comments by ECB officials suggests choppy swings above August’s 20-year 0.9901 trough may continue in next 1-2 days before down and below 0.9947 would head towards 0.9914.
On the upside, only a daily close above 1.0089 would yield stronger retracement of recent fall towards 1.0123.
Data to be released on Tuesday:
Japan unemployment rate, Australia building permits.
Germany import prices, CPI, Swiss KOF indicators, Italy industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
Canada current account, U.S. redbook, monthly home price, consumer confidence and JOLTUS jobs openings.
AceTraderFx Aug 31: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 31 Aug 2022 03:00GMT
EUR/USD - 1.0033
Despite euro’s follow-through selling initially on Monday after selloff from Friday’s 1.0089 high to 0.9914, subsequent rally to 1.0028, then to 1.0054 yesterday on renewed usd’s strength due to upbeat U.S. data suggests choppy swings above August’s 20-year 0.9901 trough may continue in next 1-2 days before prospect of another fall and below 0.9983 would head towards 0.9947, 0.9911.
On the upside, only a daily close above 1.0054 would risk one more rise to 1.0075/85.
Data to be released on Wednesday:
New Zealand building permits, U.K. BRC shop price index, nationwide house price, Japan industrial output, retail sales, consumer confidence, construction orders, China NBS manufacturing PMI, NBS non-manufacturing PMI, Australia construction work done.
France consumer spending, GDP, CPI, producer prices, Germany unemployment change, unemployment rate, Swiss investor sentiment, EU HICP, Italy CPI, producer prices.
U.S. MBA mortgage application, ADP employment change, Chicago PMI and Canada GDP.
AceTraderFx Sept 01: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 01 Sept 2022 03:00GMT
EUR/USD - 1.0027
Despite euro’s decline from last Friday’s 1.0089 high to 0.9914 Monday, subsequent erratic rise to 1.0078 in New York yesterday due to active buying in euro on market’s hawkish EBC outlook suggests
choppy swings above Aug’s 20-year 0.9901 trough may continue and above 1.0089 may head to 1.0123, 1.0146/47.
On the downside, only a daily close below 1.0000 would yield re-test of Wednesday’s 0.9972 low, break would extend further weakness towards 0.9947.
Data to be released on Thursday:
Australia AIG manufacturing index, manufacturing PMI, building capex, capital expenditure, Japan Jibun bank manufacturing PMI, China Caixin manufacturing PMI.
Germany retail sales, S n P manufacturing PMI, Swiss CPI, retail sales, manufacturing PMI, Italy S n P manufacturing PMI, unemployment rate, GDP, France S n P manufacturing PMI, EU S n P manufacturing PMI, employment change, U.K. S n P manufacturing PMI.
U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, S n P manufacturing PMI, construction spending, USM manufacturing PMI, Canada building permits and S n P manufacturing PMI.
AceTraderFx Sept 02: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 02 Sept 2022 03:00GMT
EUR/USD - 0.9955
Despite euro’s daily wild swings following fall from 1.0089 (Friday) to 0.9914 Monday, yesterday’s weakness to 0.9911 on renewed usd’s strength following upbeat US ISM data suggests re-test of August’s 24-year 0.9901 low would be seen, break would extend recent downtrend towards projected target at 0.9855 later.
On the upside, only a daily close above 1.0009 would prolong choppy swings and risk stronger gain to 1.0038/48
Data to be released on Friday:
New Zealand terms of trade, import prices, export prices.
Germany exports, imports, trade balance, current account, Swiss non-farm payrolls, France budget balance, EU producer prices.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, durables ex-defense, durable goods, factory orders, durables ex-transport and Canada labor productivity rate.
AceTraderFx Sept 05: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 05 Sept 2022 03:00GMT
EUR/USD - 0.9925
Although euro’s cross-led rally from last week’s 0.9911 low (Thur) to 1.0033 in post-NFP New York Fri suggests choppy swings above Aug’s fresh 24-year trough at 0.9901 would continue, subsequent fall to 0.9946 and intra-day gap-down open has retained bearishness, below 0.9901, 0.9855.
On the upside, only daily close above 1.0000 would indicate a temporary trough is made and risk stronger retracement towards 1.0033, break, 1.0078.
Data to be released today:
Australia AIG construction index, services PMI, business inventories, Japan Jibun bank services PMI, China caixin service PMI.
Swiss GDP, Italy S n P global services PMI, France S n P global services PMI, Germany S n P global services PMI, EU S n P global services PMI, Sentix index, retail sales, U.K. S n P global services PMI.
U.S. market holiday and Canada market holiday on Monday.
AceTraderFx Sept 06: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 06 Sept 2022 03:00GMT
EUR/USD - 0.9960
Despite euro’s break of August’s 0.9901 low to a fresh 20-year trough of 0.9877 Monday on Nord stream shut-down news, subsequent rebound to 0.9943 in Europe, then intra-day gain to 0.9943 signals a temporary low is possibly made and above 0.9972 would head to 1.0005/09.
On the downside, only a daily close below 0.9901 needed to signal recovery over and yield weakness towards 0.9877, then 0.9850/55.
Data to be released on Tuesday :
Australia current account, net exports contribution, RBA interest rate decision, Japan all household spending.
U.K. retail sales, Germany industrial orders, U.K. S n P construction PMI.
U.S. S n P global services PMI, ISM non-manufacturing PMI and New Zealand GDT price index.
AceTraderFx Sept 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 07 Sept 2022 03:00GMT
EUR/USD - 0.9887
Euro’s intra-day selloff from 0.9986 on renewed usd’s strength and then brief break of Monday’s fresh 20-year trough at 0.9877 to 0.9865 Tuesday suggests price would extend to 0.9855, however, loss of momentum may keep euro above projected support at 0.9800 and bring rebound.
On the downside, only a daily close above 0.9986 would risk stronger retracement to 1.0009, break, 1.0033 later.
Data to be released on Wednesday:
Australia AIG services index, GDP, China exports, imports, trade balance, Japan coincident index, leading indicator.
Germany industrial output, U.K. industrial output, Italy retail sales, EU employment change, GDP.
U.S. MBA mortgage application, international trade balance, redbook, goods trade balance, Canada exports, imports, trade balance, BOC rate decision and Ivey PMI.
AceTraderFx Sept 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 08 Sept 2022 04:30GMT
EUR/USD - 0.9993
Despite hitting a fresh 20-year trough of 0.9865 Tue, euro’s rally from 0.9876 to 1.0010 in New York on broad-based usd’s weakness and pre-ECB short-covering in euro suggests a temporary low is made and stronger gain to 1.0055/60 is likely but 1.0089 should cap upside.
On the downside, a daily close below 0.9930 would signal aforesaid correction over and yield weakness to 0.9865/75.
Data to be released on Thursday:
New Zealand manufacturing sales, U.K. RICS housing price balance, Japan current account, trade balance, GDP, Eco watchers current, Eco watchers outlook, Australia trade balance, imports, exports, France non-farm payrolls, current account, trade balance, imports, exports, Swiss unemployment rate, EU ECB refinancing rate, ECB depositing rate, U.S. initial jobless claims and continuing jobless claims.
AceTraderFx Sept 09: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 09 Sept 2022 03:00GMT
EUR/USD - 1.0030
Despite euro’s intra-day sharp fall from Thursday’s 1.0030 high to as low as 0.9932 in post-ECB NY morning, subsequent strong bounce on broad-based usd’s retreat suggests choppy trading above Tuesday’s fresh 20-year 0.9865 low would continue, above 1.0030 would head to 1.0060/70 before down.
On the downside, a daily close below 0.9932 is needed to revive bearishness for weakness towards 0.9865 next week.
Data to be released on Friday:
New Zealand retail sales, China PPI, CPI.
France industrial output, U.K. consumer inflation.
Canada capacity utilization, employment change, unemployment rate, U.S. wholesale inventories and wholesale sales.