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

Trading Discussion Currencies
1436

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

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

EUR/USD - 1.0137
Euro’s gap-up open to 1.0127 in New Zealand Mon following hawkish ECB news over the weekend and then gain to 1.0197 in Europe suggests recent downtrend has formed a temporary low at last Tuesday’s 20-year trough at 0.9865, subsequent fall to 1.0105 would bring further range trading.

A firm break below 1.0105 would head back to 1.0061, then 1.0033 while above 1.0197 would revive bullishness for stronger gain to 1.0215/25.

Data to be released on Tuesday:
New Zealand food price index, Japan producer prices, Australia consumer sentiment, NAB business conditions, NAB business confidence.
Germany CPI, U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price, EU ZEW survey expectations, ZEW economic sentiment, ZEW current conditions.
U.S. CPI, redbook and Federal budget.

1437

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

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

EUR/USD - 0.9977
Despite extending erratic rise from last Tuesday’s 20-year bottom at 0.9865 to a 3-week high of 1.0197 on short covering in euro, yesterday’s selloff from 1.0187 to as low as 0.9968 on rally in usd after red hot US core CPI, then 0.9957 today in Australia suggests correction possibly over and below 0.9930/32 would yield further weakness towards 0.9865.

On the upside, only a daily close above 1.0033/42 would prolong choppy swings and risk stronger gain to 1.0100/05.

Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, industrial output, capacity utilization, Australia Westpac consumer sentiment.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, EU industrial production.
U.S. MBA mortgage application, PPI and manufacturing sales.

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

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

EUR/USD - 0.9976
Despite extending erratic rise from last Tuesday’s 20-year bottom at 0.9865 to a 3-week high of 1.0197 on Monday, Tuesday’s selloff on hot US CPI to 0.9956 (AUS) yesterday suggests correction over, as 1.0023 has capped recovery, weakness to 0.9930/32 is envisaged but 0.9865 should hold.

On the upside, only a daily close above 1.0033/43 would risk stronger gain to 1.0071/76.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, tertiary industry activities, Australia employment change, unemployment rate.
Germany wholesale price index, France CPI, EU trade balance, labor costs.
Canada housing starts, U.S. NY Fed manufacturing, import prices, export prices, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, retail sales, industrial production, capacity utilization, manufacturing output and business inventories.

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1439

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

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

EUR/USD - 0.9995
Despite extending erratic rise from last Tuesday’s 20-year bottom at 0.9865 to a 3-week high of 1.0197 on Monday, euro’s selloff to 0.9956 (Wednesday) signals correction over and as 1.0023 has capped recovery in New York, weakness to 0.9930/32 is envisaged but 0.9865 should remain intact and yield rebound.

On the upside, only a daily close above 1.0023 may risk stronger retracement to 1.0065/70.

Data to be released on Friday:
New Zealand manufacturing PMI, China house price, retail sales,
Italy trade balance, EU HICP, Italy CPI, Canada wholesale trade.
U.S. University of Michigan sentiment.

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1440

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

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

EUR/USD - 1.0014
Although euro’s selloff from last Monday’s 3-week top at 1.0197 to 0.9945 on Friday suggests correction from September’s fresh 20-year bottom at 0.9865 has ended, subsequent rebound to 1.0036 in New York may head back to 1.0055/65 before down, below 0.9990/94 would head to 0.9945/55 but break needed for 0.9905/15.

On the upside, only a daily close above 1.0101/05 would risk stronger gain towards 1.0141 but 1.0197 should hold.

Data to be released later:
New Zealand business NZ PSI.
U.K. market holiday, Japan market holiday, EU construction output.
Canada producer prices and U.S. NAHB housing market index on Monday.

1441

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

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

EUR/USD - 0.9967
Although euro’s decline from September’s 1.0197 high suggests correction from September’s fresh 20-year 0.9865 low has possibly ended, subsequent bounce from 0.9945 to 1.0036 Friday would bring choppy swings, yesterday’s fall from 1.0050 to 0.9956 has retained bearishness and below 0.9945 would head
towards 0.9901.

On the upside, only a daily close above 1.001/23 would risk stronger gain towards 1.0050.

Data to be released on Wednesday:
Australia Westpac leading index.
U.K. PSNB, PSNCR, CBI trends orders.
U.S. MBA mortgage application, existing home sales and Fed interest rate decision.

1442

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

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

EUR/USD - 0.9825
Euro’s break of previous September’s 0.9865 low to a fresh 20-year bottom of 0.9814 on rally in usd after Fed’s hawkish hike confirms downtrend has resumed and as price has fallen after a brief bounce to 0.9910, weakness to 0.9785/90, then possibly 0.9755/65 would be seen later.

On the upside, only a daily close above 0.9910 would indicate a temporary trough made and risk stronger retracement to 0.9935/45 before retreat.

Data to be released on Thursday:
New Zealand imports, exports, trade balance, Australia market holiday, Japan BOJ interest rate decision.
France business climate, Swiss SNB interest rate decision, U.K. BOE interest rate decision, BOE MPC vote hike, BOE MPC vote unchanged, BOE MPC vote cut.
U.S. initial jobless claims, continuing jobless claims, leading index change, KC Fed manufacturing PMI, Canada new housing price index and EU consumer confidence.

1443

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

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

EUR/USD - 0.9839
Despite euro’s rebound from Asian fresh 2-decade low of 0.9810 Thur to 0.9908 in Europe due to yen-led usd’s decline, subsequent weakness to 0.9813 in New York suggests recent downtrend would head towards projected target at 0.9760 before prospect of correction.

On the upside, only a daily close above 0.9908/10 res would confirm a temporary trough made and risk stronger retracement to 0.9945/55.

Data to be released on Friday:
Australia manufacturing PMI, services PMI, U.K. Gfk consumer confidence, Japan market holiday.
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, CBI distributive trades.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.

1444

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

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

EUR/USD - 0.9675
Despite Thursday’s yen-led short-covering rebound from 0.9810 to 0.9908, euro’s selloff on Friday after weak EU data and renewed usd’s strength to a fresh 20-year trough of 0.9669 (New York) suggests downtrend may head towards ‘psychological’ 0.9500 handle later this week.

On the downside, only a daily close above 0.9737 would risk stronger retracement towards 0.9775 but 0.9710 should hold.

Data to be released later :
New Zealand market holiday, Japan Jibun bank manufacturing PMI, Jibun bank services PMI.
Germany Ifo business cliamte, Ifo current conditions, Ifo expectations, U.S. national activity index and Dallas Fed manufacturing business index on Monday.

1445

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

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

EUR/USD - 0.9630
Yesterday’s cable-led weakness to a fresh 2-decade trough of 0.9559 (Asia) signals recent downtrend remains in force and as price has fallen in New York after a short-covering bounce to 0.9701 (Europe), further fall to 0.9500 is likely but 0.9475/80 may hold.

On the downside, only a daily close above 0.9669 would prolong choppy sideways swings and risk stronger gain to 0.9701/05.

Data to be released on Tuesday:
Italy trade balance non-EU.
U.S. building permits, durable goods, durables ex-transport, durables ex-defense, redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.

1446

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

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

EUR/USD - 0.9598
Euro’s weakness to 0.9570 in New York yesterday following a rebound from Monday’s fresh 2-decade low of 0.9559 to 0.9701 suggests re-test of 0.9559 would be seen after range trading, break extends downtrend to 0.9520 but loss of momentum may limit weakness to 0.9485.

On the upside, only a daily close above 0.9652 would prolong choppy sideways swings and risk 0.9670, break, 0.9701.

Data to be released on Wednesday:
U.K. BRC shop price index, Australia retail sales, Japan coincident index, leading index, Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence, industrial sales.
U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales.

1447

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

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

EUR/USD - 0.9704
Despite resumption of downtrend to a fresh 20-year trough of 0.9537 (Europe) yesterday, subsequent rally due to selloff in usd in tandem with US yields to 0.9750 in New York signals a temporary low is made, intra-day retreat may head to 0.9640/50, below, 0.9600.

On the upside, only a daily close above 0.9750 would risk stronger retracement towards 0.9775 but 0.9810/13 should cap upside.

Data to be released on Thursday:
Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, Canada GDP and average weekly earnings.

1448

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

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

EUR/USD - 0.9821
Despite resumption of downtrend to a fresh 20-year trough of 0.9537 on Wednesday, subsequent rally to 0.9750 and then yesterday’s break above there to 0.9815 (New York), then 0.9844 in Australia today suggests stronger retracement to 0.9878, 0.9908 would be seen, reckon 0.9945 should cap upside.

On the downside, a daily close below 0.9750 needed to signal top is made and yield weakness towards 0.9684.

Data to be released on Friday:
New Zealand building permits, Japan unemployment rate, industrial output, retail sales, consumer confidence, construction orders, housing starts, China NBS manufacturing PMI, caixin manufacturing PMI.
Germany import prices, retail sales, unemployment change, unemployment rate, U.K. current account, GDP, nationwide house prices, Swiss retail sales, KOF indicator, France CPI, consumer spending, producer prices, Italy unemployment rate, CPI, EU HICP, unemployment rate.
U.S. personal spending, personal income, core PCE price index, Chicago PMI, University of Michigan sentiment and Canada budget balance.

1449

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

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

EUR/USD - 0.9798
Although euro’s upmove from last Wednesday’s fresh 2-decade bottom at 0.9537 to as high as 0.9853 (Europe) Friday suggests recent downtrend has made a temporary low, subsequent retreat to 0.9735 in New York morning would bring choppy sideways trading.

Above 0.9853 would extend marginal gain, loss of upward momentum should cap price below 0.9908.
Below 0.9735 signals first leg of correction over and heads back towards 0.9636.

Data to be released later:
Australia manufacturing PMI, Japan Tankan big manufacturing PMI, Tankan small manufacturing PMI, Jibun bank manufacturing PMI, China market holiday.
Swiss CPI, manufacturing PMI, France budget balance, S n P manufacturing PMI, Italy S n P manufacturing PMI, Germany S n P manufacturing PMI, EU S n P manufacturing PMI.
U.K. S n P manufacturing PMI, Canada S n P manufacturing PMI, U.S. S n P manufacturing PMI, construction spending and ISM manufacturing PMI on Monday.

1450

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

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

EUR/USD - 0.9972
Yesterday’s impressive rally from 0.9807 (Asia) to as high as 0.9999 in New York due to broad-based usd’s weakness on falling U.S. yields and market’s risk-on sentiment suggests recent rise from September’s 2-decade trough at 0.9837 remains in progress, however, overbought condition would cap price below res at 1.0050 and risk has increased for a retracement to occur.

On the downside, below 0.9900 signals 1st leg of correction is possibly over and brings weakness towards 0.9853, however, reckon 0.9807 should remain intact.

Data to be released on Wednesday :
Australia services PMI, Japan Jibun bank services PMI, New Zealand RBNA interest rate decision, China market holiday, Germany exports, imports, trade balance, current account.
France industrial output, 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, U.K. S n P global services PMI.
U.S. MBA mortgage application, ADP employment change, international trade balance, goods trade balance, S n P global services PMI, ISM non-manufacturing PMI, Canada building permits, trade balance, exports and imports.

1451

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

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

EUR/USD - 0.9910
Euro’s decline from 0.9999 (Tue) to as low as 0.9835 in New York yesterday due to broad-based usd’s rebound suggests 1st leg of upmove from September’s 2-decade trough at 0.9537 has ended and downside bias remains for weakness to 0.9800, reckon 0.9768 would contain downside and yield rebound today.

Intra-day strong bounce may head to 0.9950/60 before down and above may risk stronger gain to 0.9994/99 later.

Data to be released on Thursday:
Australia AIG construction index, exports, imports, trade balance, China market holiday.
Germany industrial orders, EU retail sales.
U.S. S n P construction PMI, U.S. initial jobless claims, continuing jobless claims and Canada Ivey PMI.

1452

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

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

EUR/USD - 0.9790
Euro’s selloff yesterday from 0.9926 (Asia) and then break of Wednesday’s 0.9835 low (now resistance) to 0.9789 in New York on renewed usd’s strength signals decline from Tuesday’s near 2-week 0.9999 high to retrace rise from September’s 2-decade 0.9537 trough would head towards 0.9713 but 0.9636 should hold.

On the upside, only a daily close above 0.9835 would risk stronger gain to 0.9885/95 before down.

Data to be released on Friday:
Japan all household spending, coincident index, leading index, China market holiday.
Swiss unemployment rate, Germany import prices, industrial output, retail sales, U.K. Halifax house prices, France current account, trade balance, imports, exports, Italy retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales, Canada employment change and unemployment rate.

1453

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

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

EUR/USD - 0.9735
Euro’s selloff from 0.9999 (Tue) to as low as 0.9727 Fri after robust US jobs report suggests correction from Sep’s 2-decade trough at 0.9537 has possibly ended and as 0.9790 has capped recovery, bearishness remains and a daily close below 0.9713 (61.8% r) would pressure price to 0.9684, then later 0.9636/40.

On the upside, only a daily close above 0.9790 would risk stronger retracement towards 0.9816, break, 0.9835

Data to be released later:
Australia AIG services services index, Japan market holiday.
EU Sentix index.
U.S. market holiday, Canada market holiday on Monday.

1454

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

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

EUR/USD - 1.1074
Euro’s selloff last week from 0.9999 (Tue) to 0.9727 Fri after robust US jobs report, then weakness to 0.9683 in Europe Mon signals correction from Sep’s 24-year trough at 0.9537 has ended and may head back towards 0.9636 before recovery due to ‘loss of momentum’.

On the upside, only a daily close above 0.9753 (Asia high) would risk stronger retracement to 0.9780/90.

Data to be released on Tuesday :
New Zealand retail sales, Australia consumer sentiment, NAB business conditions, NAB business confidence, Japan current account, eco watchers current, eco watchers account.
U.K. BRC retail sales, U.K. climate count, ILO unemployment rate, employment change, average weekly earnings, Italy industrial output, Swiss leading index.
U.S. redbook.

1455

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

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

EUR/USD - 0.9691
Euro’s decline from last Tue’s near 2-week high of 0.9999 to as low as 0.9672 yesterday suggests correction from Sep’s 2-decade bottom at 0.9537 has ended and despite erratic rise to 0.9774 in New York, subsequent GBP-led fall to 0.9695 would head towards 0.9636 but 0.9602 should hold.

On the upside, only a daily close above 0.9774 may risk stronger retracement to 0.9800/10 before down.

Data to be released on Wednesday:
Japan machinery orders.
U.K. GDP, industrial output, manufacturing output, construction output, trade balance, EU industrial output.
U.S. MBA mortgage application and U.S. PPI.