AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Sept 2017 05:00 GMT

EUR/USD - 1.1786
Euro's resumption of recent decline from September's 30-month peak at 1.2093 to a 1-month trough of 1.1758 confirms medium-term upmove from 2017 bottom at 1.0341 has made a top and further weakness is envisaged after consolidation, reckon 1.1700/05 would hold today.

On the upside, only above 1.0839 signals temporary low is made and risks stronger retracement to 1.3850/60 before down.

Euro area countries will release a slew of eco. data starting with France's consumer confidence, Italy's bus. n consumer confidence, industrial order n sales. ECB Supervisory Chief Nouy will speak at 07:10GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Sept 2017 05:10 GMT

EUR/USD - 1.1740
Despite euro's intra-day rebound from a fresh 1-month trough of 1.1718 to 1.1775 in New York session on short covering, subsequent retreat suggests downside bias remains for decline from September's 2-1/2 year peak at 1.2093 to extend marginal weakness, loss of momentum should keep price above August's bottom at 1.1663.

A daily close above 1.1775 confirms temporary low is made, then risk would shift to the upside for a much-needed correction to 1.0833/39 later.

Data to be released on Thursday:
New Zealand RBNZ interest rate decision, Germany GfK consumer confidence, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, and U.S. GDP, PCE, wholesales inventories, initial jobless claims, KC Fed manufacturing.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Sept 2017 05:05 GMT

EUR/USD - 1.1788
Althogh yesterday's rally from 1.1721 to as high as 1.1804 suggests recent decline from 1.2093 has made a temporary low at Wednesday's fresh 1-month bottom at 1.1718 and 1-2 days of consolidation is in store, as long as 1.0833/39 (previous sup, now res) holds, downside bias remains for resumption of aforesaid fall next week.

Only a daily close above 1.0839 would risk stronger retracement towards 1.1862 before prospect of retreat.

Data to be released on Friday:
New Zealand building permits, U.K. GfK consumer confidence, nationwide house price, mortgage approvals, Japan household spending, national CPI, Tokyo CPI, unemployment rate, industrial production, retail trade, construction orders, housing starts, Germany retail sales, unemployment change, unemployment rate, France consumer spending, CPI, producer prices, Swiss KOF leading indicator, Italy CPI, producer prices, EU CPI, Canada GDP, producer prices, and U.S. personal spending, PCE, core PCE, University of Michigan sentiment.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Oct 2017 05:5 GMT

EUR/USD - 1.1711
Euro's intra-day anticipated break of last Wed's 5-week trough at 1.1718 confirms recent fall from September's 2-1/2 year peak at 1.2093 has once again resumed, however, near term loss of momentum would prevent steep fall and reckon 1.1663 (August low) would contain weakness, bring correction later today or tomorrow.

On the upside, a daily close above 1.1763 would be the 1st signal temporary low is made and yield retracement to 1.1800/10.
As Sun's Catalan referendum for independence from Spain is seen by market as risk for the EU following media report the Catalan Parliament will hold meeting today to decide whether to issue a declaration of independence or not, euro is therefore expected to remain under pressure in Europe, so selling the single currency is favoured.

Eco. data calendar is very light with EU PPI being the only data due out.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Oct 2017 05:40 GMT

EUR/USD - 1.1772
Despite yesterday's anticipated resumption of recent decline from September's 2-1/2 year peak at 1.2093 to a fresh 5-week trough of 1.1697 ahead of European open, subsequent rally to 1.1773 due to short covering suggests temporary low has been made and 1-2 days of choppy consolidation is in store.

Intra-day brief break of 1.1773 may head to 1.1810/15, however, res at 1.1833 should cap upside.
Below 1.1718 signals correction over and yield one more fall to 1.1670/80.
Today is PMI today, Italy will release Markit services PMI, then the same fm France, Germany n the EU together with retail sales.
ECB President Draghi will give opening remarks at the inauguration of the ECB Visitor Centre in Frankfurt at 16:15GMT n stay up for this if you can't sleep.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Oct 2017 06:00 GMT

DAILY MARKET OUTLOOK
EUR/USD - 1.1709
Yesterday's intra-day selloff to 1.1700 in New York suggests re-test of Wednesday's 5-week trough at 1.1697 would be forthcoming soon where a break there would extend recent decline from September's 2-1/2 year peak at 1.2093 towards 1.163 (August low), loss of momentum would keep price above 1.1610/15.

On the upside, only above 1.1788 would risk stronger correction of aforesaid fall towards 1.1833 before prospect of another decline next week.

Data to be released on Friday:
China market holiday, Japan coincident indicator, leading indicator.
Germany industrial orders, France current account, U.K. Halifax house price, Italy retail sales.
Canada employment change, unemployment rate, Ivey PMI, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 09 Oct 2017 09:30 GMT

EUR/USD - 1.1735
Despite euro's resumption of decline from September's 2-1/2 year peak at 1.2093 to a near 7-week trough of 1.1670 in post-NFP New York, intra-day rally to 1.1739 suggests temp. low has been made n consolidation with upside bias is seen for retrace. towards 1.1788.

Turn long on dips for 1.1785 but 1.1810/15 should cap upside.
Only below 1.1685/90 risks 1.1663.

 

[AceTRaderForex]

AceTraderFx Oct 09: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 09 Oct 2017 10:30 GMT

USD/JPY - 112.67
Dollar's selloff from last Friday's 2-1/2 month peak at 113.44 to 112.61 due to safe-haven buying of yen in post-NFP New York session, then 112.33 earlier today (NZ) suggests recent upmove from September's 107.32 bottom has made a temporary top and consolidation with downside bias is seen.
However, firm break of 112.22 sup needed to bring stronger retracement to 111.70/80.

Expect 113.00/10 to hold and yield further decline, only above 113.22/26 risks re-test of 113.44.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Oct 2017 05:25 GMT

EUR/USD - 1.1745
Euro's rally from last Friday's near 7-week trough at 1.1670 to 1.1756 in holiday-thinned North American trading suggests recent decline has made a temporary low and as long as 1.1697/00 holds.
Consolidation with upside bias remains for further headway towards 1.1788, reckon res at 1.1833 would cap present rise and yield strong retreat.

A firm break of 1.1697 would be 1st signal said correction is over, then re-test of 1.1663 (August's low) would be seen.

Germany will release exports n imports data, current accounts n trade balance, then France will release industrial output, and the same from Italy during European morning.
Last but not least, Catalan parliament will hold a plenary session at 16:00GMT where Catalan President will address the regional parliament for the 1st time since the referendum and if he makes a unilateral declaration of independence from Spain after the meeting, euro will fall as well as eur/chf cross.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Oct 2017 05:25 GMT

EUR/USD - 1.1821
Euro's resumption of upmove from last Friday's near 7-week bottom at 1.1670 to 1.1825 in New York on easing of Catalan independence tension suggests recent decline from September's 2-1/2 year peak at 1.2093 has indeed made a low there, a daily close above 1.1833 res needed to retain bullish prospect of stronger gain towards 1.1883.

On the downside, below 1.1763 anytime signals said correction has made a top and risk would shift to downside for subsequent weakness towards 1.1719.

No eco. data is due out today and ECB Board member and Chief Economist Praet will make a speech at a conference in New York later in the day at 18:50GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Oct 2017 05:25 GMT

EUR/USD - 1.1859
Euro's resumption of upmove from last Fri's near 7-week bottom at 1.1670 and then yesterday's daily close above res at 1.1833 suggests early correction from 1.2093 (September) has possibly ended and consolidation with upside bias remains for further gain, loss of upward momentum should cap price below 1.1931 (61.8% r from 1.2093) today.

On the downside, only below 1.1796 sup signals temporary top is made, however, reckon 1.1763 sup would contain weakness.

On the eco. data front, France will release CPI, then EU's industrial production. Pay attention to speeches by a line of ECB officials who are attending several conferences in Washington D.C. ECB's Draghi will speak at 14:30GMT, then ECB's Praet at the same time (diff. venue), ECB's Coeure at 19:45GMT n then ECB's Lautenschlager at 20:10GMT.

The 2017 Annual Meetings of the World Bank Group and the International Monetary Fund will take place between Oct 13-15 in Washington, D.C., so expect lots of breaking news on comments by various senior officials.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Oct 2017 05:25 GMT

EUR/USD - 1.1842
Although euro's intra-day cable-led retreat from yesterday's fresh 2-week high of 1.1880 to 1.1828 (NY), then 1.1826 today confirms near term upmove from Oct's near 7-week bottom at 1.1760 has made a temporary top and consolidation is in store ahead of U.S. inflation data, as long as 1.1796/02 sup area holds, upside bias remains but reckon 1.1936 would cap this week's gain.

A daily close below 1.1796 confirms 1st leg of upmove is over and may risk stronger retracement to 1.1740/50 before rebound.

Data to be released on Friday:
Germany CPI, HICP, Swiss producer/import price, Italy CPI.
U.S. CPI, real weekly earnings, retail sales, retail control, business inventories, University of Michigan sentiment.

 

[AceTRaderForex]

AceTraderFx Oct 13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 Oct 2017 09:25 GMT

USD/JPY - 112.06
Dollar's intra-day cross-inspired break of this week's low at 111.99 (Tue) confirms decline from last Friday's 2-1/2 month peak at 113.44 has resumed and would head towards 111.48, oversold condition may keep price above 111.12.

Only above 112.32 (AUS) suggests correction has possibly ended and yields stronger gain towrds 112.59 but 112.83 would cap upside.

U.S. will release CPI, retail sales, business inventories and U. of Michigan consumer confidence.
Today, we have a line of Fed officials delivering speeches starting with Boston Fed's Rosengren (non-voter) n Fed Gov. Powell (voter) at 12:30GMT, then Chicago Fed's Evans (voter) at 14:25GMT, Dallas Fed's Kaplan (voter) at 15:30GMT n Fed's Powell again at 17:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Oct 2017 05:10 GMT

EUR/USD - 1.1807
Despite euro's beif rally on Fri from 1.1806 to 1.1875 after soft U.S. CPI data, subsequent retreat and then intra-day weakness due to political woes in Europe suggests choppy trading below last Thur's 2-week peak at 1.1880 would continue and sup area at 1.1790/96 needs to hold for prospect of resumption of recent upmove.

A daily close below 1.1796 would risk stronger retracement twd 1.1763 but reckon pivotal sup at 1.1719 would contain weakness.

Data to be released today:
U.K. Rightmove house price, China PPI, CPI, Japan industrial production, capacity utility index change, EU trade balance, and U.S. New York Fed manufacturing.

 

[AceTRaderForex]

AceTraderFx Oct 17: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 17 Oct 2017 09:05 GMT

EUR/USD - 1.1783
Euro's weakness to 1.1781 on Monday due to political woes in Europe and rebound in the usd on rising U.S. yields confirms recent upmove from October's 1.1670 bottom has made a top last week at 1.1880 and as long as 1.1852 holds, stronger retracement to 1.1740/50 may be seen before prospect of rebound later this week.

A daily close above 1.1852 signals correction over and would encourage for another rise to 1.1875/80.

Data to be released on Tuesday:
Italy trade balance, U.K. CPI, RPI, PPI input, PPI output, DCLG house price index, EU ZEW economic sentiment, CPI, and U.S. import prices, export prices, redbook, industrial production, capacity utilization, manufacturing output, NAHB housing market index.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Oct 2017 05:05 GMT

EUR/USD - 1.1773
Yesterday's resumption of decline from last week's high at 1.1880 to as low as 1.1737 suggests early strong rise from October's 1.1670 bottom has made a top there, as long as 1.1800 holds, consolidation with mild downside bias remains, loss of downward momentum would limit weakness to 1.1710/15 and bring rebound later this week.

A daily close above 1.1818 signals pullback is over and yields further gain towards 1.1852 but 1.1875/80 should cap upside.

Data to be released on Wednesday:
U.K. claimant count, ILO unemployment rate, average weekly earnings, EU construction output, U.S. MBA mortgage application, building permits, housing starts, and Canada manufacturing sales.

 

[AceTRaderForex]

AceTraderFx Oct 18: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 18 Oct 2017 09:55 GMT

USD/JPY - 112.51
Despite dollar's drop to 111.65 on Monday, subsequent rally to 112.29 in New York, then marginally higher to 112.48 yesterday suggests the pullback from October's 2-1/2 month peak at 113.44 has ended there and choppy trading with upside bias would be seen for gain towards 112.59, above would add credence to this view and extend further, however, resistance at 112.83 should remain intact and yield retreat.

On the downside, only below 111.65 would revive bearishness for a stronger retracement of erratic upmove from 107.32 towards 111.48/50, then 111.12.
U.S. will release building permits, housing starts and later Fed's beige book. Pay attention to New York Fed President Dudley (voter) and Dallas President Kaplan (voter) who will participate in moderated discussion at a forum in New York at 12:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Oct 2017 05:55 GMT

EUR/USD - 1.1804
Despite yesterday's resumption of decline from last week's high at 1.1880 to 1.1730 in Europe, subsequent strong bounce to 1.1805 in NY session due to broad-based usd's profit taking and intra-day gain to 1.1817 in Asia suggests said fall has end ed and consolidation with upside bias is seen for gain towards 1.1852.

On the downside, only below 1.1760 would dampen bullish view and may risk weakness towards 1.1730.
No euro area eco. data is due out but European Council meeting is on where U.K. PM May will present to EU leaders to a break a deadlock in recent Brexit talks.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Oct 2017 05:25 GMT

EUR/USD - 1.1844
Despite euro's intra-day brief but sharp fall from 1.1823 to 1.1769 in Europe due to market jitters on Catalonia/Spain, as price has quickly risen after shrugging off political uncertainty, subsequent gain to 1.1858 in New York suggests correction from last week's 1.1880 peak has ended and re-test of this res is seen, break would encourage for gain towards 1.0936 next week.

Only a daily close below 1.1800 'prolongs' choppy sideways trading and risks 1.1769 bit 1.1830 should remain intact.

Euro area eco. calendar is very light with Germany's PPI and EU current account being the 2 sets of data due out. The European Council meeting continues today.

 

[AceTRaderForex]

AceTraderFx Oct 20: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 20 Oct 2017 09:05 GMT

USD/JPY - 113.45

The greenback's intra-day break October's 2-1/2 month peak at 113.44 signals erratic upmove from September's trough at 107.32 has once again resumed and choppy trading with upside bias would be seen for gain towards 113.60/70, however, loss of momentum would keep price below 114.00/10 today and yield a much-needed correction later.

On the downside, only below 112.48 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.99.

Data to be released on Friday:
Germany producer prices, EU current account, U.K. PSNB, PSNCR, Canada CPI, retail sales, and U.S. existing home sales.