AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Oct 2021 03:00GMT

EUR/USD - 1.1632
Despite resumption of recent erratic rise from Oct's 14-month trough at 1.1525 to a near 3-week high of 1.1669 (Europe) yesterday, subsequent retreat on usd's rebound in tandem with rally in U.S. yields suggests temporary top is possibly made, a daily close below 1.1624 would add credence to this view and heads towards 1.1572.

Only above 1.1669 risks marginal gain, however, loss of momentum would cap price below 1.1700/03.

Data to be released on Wednesday :
Japan exports, imports, trade balance, Australia Westpac leading index, China house prices.
U.K. CPI, RPI, PPI input prices, PPI output prices, FCLG house price index, Germany producer prices, EU current account, HICP.
U.S. MBA mortgage application and Canada CPI.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Oct2021 09:30GMT

USD/JPY - 114.39
Despite the greenback's rise to a fresh 3-year peak at 114.69 in Asia today, subsequent retreat suggests Medium Term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 113.89 (Tuesday), however, near term loss of momentum would keep price above 113.80 and yield a much-needed rebound later this week.

On the upside, only above 114.69 would revive bullishness for one more rise towards 115.00/10 before correction occurs.

The only U.S. eco. data due out is MBA mortgage applications, pay attention to release of Fed's Beige book at 18:00GMT.
We also have a number of Fed officials scheduled to speak in New York session, please refer to our EI page for details.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Oct 2021 03:00GMT

EUR/USD - 1.1655
Euro's rebound from 1.1617 to 1.1658 yesterday suggests re-test of Tuesday's near 3-week high at 1.1669 would be forthcoming soon, break there would extend corrective rise from October's 1.1525 trough to 1.1700/05, however,' loss of upward momentum' should cap price below res at 1.1755 this week.

On the downside, only a daily close below 1.1617 signals said retracement is over, then outlook would turn bearish for weakness towards 1.1572 next week.

Data to be released on Thursday:
U.K. PSNB, PSNCR, CBI trend orders, France business climate, Italy industrial sales.
U.S. initial jobless claims, continuing jobless claims, existing home sales, leading index change, Canada ADP employment change, new housing price index and EU consumer confidence.

 

[AceTRaderForex]

AceTraderFx Oct 21: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 21 Oct 2021 09:30GMT

USD/JPY - 114.03
Despite the greenback's rise to a fresh 3-year peak at 114.69 in Asia yesterday, subsequent retreat suggests Medium Term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 113.89 (Tuesday), however, near term loss of momentum would keep price above 113.80 and yield a much-needed rebound later this week.

On the upside, only above 114.69 would revive bullishness for one more rise towards 115.00/10 before correction occurs.

U.S. will release a slew of eco. data, please refer to our EI page for details and pay attention to weekly jobless claims n leading index.
We also have Fed Gov. Waller speaking at an online financial forum at 13:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Oct 2021 03:00GMT

EUR/USD - 1.1628
Yesterday's retreat from 1.1667 to 1.1620 (New York) suggests further sideways swings below Tuesday's near 3-week high at 1.1669 would continue, as long as 1.1617 (Wednesday's reaction low) holds, outlook remains mildly bullish for corrective rise from October's 1.1525 bottom to head towards 1.1703 before prospect of decline early next week.

On the downside, only a daily close below 1.1609 signals top is made and yields stronger retracement towards 1.1572.

Today is PMI day in the euro area countries, France will kick off with Markt mfg and servcies PMIs, then the same from Germany n the EU.
Pay attention to German n EU PMIs, if readings are sofyer than street forecasts, then euro will come under renewed selling pressure.

 

[AceTRaderForex]

AceTraderFx Oct 22: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 22 Oct 2021 09:30GMT

USD/JPY - 113.94
Dollar's rebound yesterday from 113.66 due to rally in U.S. yields to 114.20 today suggests pullback from Wednesday's fresh 3-year peak at 114.69 has possibly ended and expect range trading with upside bias, above 114.41/45 would bring re-test of 114.69, then towards 115.51 next week.

Only below 113.66 risk stronger retracement of recent uptrend towards 113.22 later.

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

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Oct 2021 03:00GMT

EUR/USD - 1.1645
Despite euro's daily sideways swings following early retreat from last Tuesday's near 3-week high of 1.1669 to 1.1617 (Wednesday), as long as this sup holds, corrective rise from October's 14-month trough at 1.1525 would head towards 1.1703 before decline due to loss of upward momentum.

A daily close below 1.1617 suggests correction is over and head back towards 1.1572.

On the data front, pay attention to key German Ifo business climate, current conditions n expectations at 08:00GMT, then later Buba monthly report. We also have ECB member de Cos speaking at 08:00GMT.

 

[AceTRaderForex]

AceTraderFx Oct 25: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 25 Oct2021 09:30GMT

USD/JPY - 113.61
Despite the greenback's rise to a fresh 3-year peak at 114.69 last Wednesday, subsequent selloff to 113.47 today suggests MT upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 113.20/22, however, near term loss of momentum would keep price above 113.00/05 and yield a much-needed rebound later this week.

On the upside, only above 114.69 would revive bullishness for one more rise towards 115.00/10 before correction occurs.

Data to be released today:
New Zealand Market Holiday, Japan coincident index, leading indicator.
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Oct 2021 03:00GMT

EUR/USD - 1.1603
Euro's intra-day fall from 1.1664 (Asia) and then subsequent break of 1.1617 sup in New York on Monday due to broad-based rebound in usd suggests the daily choppy sideways swings from last Tuesday's near 3-week peak at 1.1669 had ended, a daily close below 1.1591 signals correction from October's 14-month trough at 1.1525 has ended and re-test of this keep level would be seen later this week.

On the upside, only intra-day move back above 1.1650/55 aborts bearishness on euro and may risk re-test of 1.1669.

Data to be released on Tuesday:
U.S. building permits, redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufac

 

[AceTRaderForex]

AceTraderFx Oct 26: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 26 Oct2021 09:30GMT

USD/JPY - 114.00
Despite the greenback's rise to a fresh 3-year peak at 114.69 last Wednesday, subsequent selloff to 113.42 yesterday suggests MT upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 113.20/22, however, near term loss of momentum would keep price above 113.00/05 and yield a much-needed rebound later this week.

On the upside, only above 114.69 would revive bullishness for one more rise towards 115.00/10 before correction occurs.

U.S. will release a slew of economic data, please refer to our EI page for details, pay attention to consumer confidence at 13:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Oct 2021 03:00GMT

EUR/USD - 1.1601
Euro's resumption of erratic fall from last Tue's near 3-week high at 1.1669 to 1.1586 (New York) suggests correction from October's 14-month bottom at 1.1525 has possibly ended, a daily close below 1.0572 would bring re-test of 1.1525 later this week.

Only above Tuesday's 1.1625 high 'prolongs' choppy swings and may risk gain to 1.1664/69.

Data to be released on Wednesday:
New Zealand imports, trade balance, exports, NBNZ business outlook, NBNZ own activity, Australia CPI.
U.K. BRC shop price index, Germany Gfk consumer sentiment, Frnace consumer confidence, producer prices, Italy trade balance non-EU, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durable ex-transport, durables ex-defense, goods trade balance, wholesale inventories, and Canada BOC interest rate decision.

 

[AceTRaderForex]

AceTraderFx Oct 27: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 27 Oct2021 09:30GMT

USD/JPY - 113.76
Despite the greenback's rise to a fresh 3-year peak at 114.69 last Wednesday, subsequent selloff to 113.42 yesterday suggests MT upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 113.20/22, however, near term loss of momentum would keep price above 113.00/05 and yield a much-needed rebound later this week.

On the upside, only above 114.69 would revive bullishness for one more rise towards 115.00/10 before correction occurs.

On the data front, U.S. will release MBA mortgage applications, durable goods order, goods trade balance and wholesale inventories

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Oct 2021 03:00GMT

EUR/USD - 1.1593
Euro's marginal break of Tuesday's 1.1586 low to 1.1585 in Europe Wednesday suggests correction from October's 14-month trough at 1.1525 has possibly ended and as 1.1625 (New York high) has capped subsequent recovery, downside bias remains and below 1.1572 would head back towards 1.1525.

On the upside, only daily close above 1.1625 risks stronger gain to 1.1664/69, break, 1.1703.

Data to be released on Thursday:
Japan retail sales, BoJ interest rate decision, Australia export prices, import price.
Germany unemployment change, unemployment rate, Italy business confidence, consumer confidence, producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, ECB refinancing rate, ECB deposit rate.
Germany CPI, U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing and Canada average weekly earnings.

 

[AceTRaderForex]

AceTraderFx Oct 28: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 28 Oct 2021 09:30GMT

USD/JPY - 113.66
Despite the greenback's rise to a fresh 3-year peak at 114.69 last Wednesday, subsequent selloff to 113.42 yesterday suggests MT upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 113.20/22, however, near term loss of momentum would keep price above 113.00/05 and yield a much-needed rebound later this week.

On the upside, only above 114.69 would revive bullishness for one more rise towards 115.00/10 before correction occurs.

U.S. will release a slew of eco. data, please refer to our EI page for details n pay attention to GDP n PCE price plus weekly jobless claims at 12:30GMT.
Also keep an eye on U.S. yields as the pair fell after benchmark 10-year hit a 1-week low of 1.520% (cirac 1.5571%), further lower yields would pressure price lower.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Oct 2021 03:00GMT

EUR/USD - 1.1681
Euro's impressive rally from 1.1583 (Europe) and intra-day break of last week's 1.1669 high to a 1-month peak at 1.1692 in New York on downbeat US GDP report suggests upmove from Oct's 14-month trough at 1.1525 has once again resumed and further gain is expected after consolidation but reckon 1.1755 res at should remain intact due to overbought condition.

On the downside, only a daily close below 1.1669 signals temporary top made, risks retracement to 1.1625, 1.1600.

We have data dump in the euro area countries in European morning, please refer to our EI page for details.
Pay attention to German and EU Q3 GDP, if actual readings come in better than forecast, then another bout of euro buying would be seen.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Nov 2021 03:00GMT

EUR/USD - 1.1554
Euro's selloff from 1.1689 to a 2-week trough at 1.1535 in New York Friday on heavy month-end usd's demand suggests early corrective upmove from October's 14-month low of 1.1525 has ended at 1.1692 Thursday and re-test of said sup is seen after consolidation, break extends to 1.1500 later.

On the upside, only a daily close above 1.1600 signals temporary low made, risks stronger retracement to 1.1625, 1.1655.

Eur area eco. calendar is very light as France and Italy plus other European countries are closed for All Saints' Day holiday. Germany will release retail sales at 07:00GMT.

 

[AceTRaderForex]

AceTraderFx Nov 01: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 01 Nov 2021 09:30GMT

USD/JPY - 114.41
Despite the greenback's rise to a fresh 3-year peak at 114.69 last Wednesday, subsequent selloff to 113.42 last Friday, then 113.26 yesterday on downbeat US GDP data suggests MT upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 112.70/80, however, near term loss of momentum would keep price above 112.40/50 and yield a much-needed rebound later this week.

On the upside, only above 114.31 would revive bullishness for one more rise towards 114.69, then 114.90/00 before correction occurs.

Data to be released today:
Australia AIG manufacturing index, manufacturing PMI, Japan Jibun bank manufacturing PMI, China Caixin manufacturing PMI.
Germany retail sales, Swiss manufacturing PMI, France Market Holiday, Italy Market Holiday, U.K. Markit manufacturing PMI.
Canada Markit manufacturing PMI, U.S. Markit manufacturing PMI, construction spending and ISM manufacturing PMI on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 02 Nov 2021 03:00GMT

EUR/USD - 1.1598
Euro's stronger-than-expected rebound from Friday's 2-week low of 1.1535 to 1.1609 Mon on broad-based usd's retreat signals choppy trading above October's 14-month 1.1525 bottom may continue, as long a previous res at 1.1625 holds, consolidation with downside bias remains, below 1.1580/83 signals recovery over and heads back towards 1.1535.

On the upside, only a daily close above 1.1625 may risk further gain to 1.1664/69 before prospect of another fall.

Data to be released on Tuesday:
New Zealand building permits, GDT price index, Australia RBA interest rate decision.
Swiss CPI, retail sales, Italy Markit manufacturing PMI, France Markit manufacturing PMI, , Germany Markit manufacturing PMI, EU Markit manufacturing PMI.
Canada building permits and U.S. redbook.

 

[AceTRaderForex]

AceTraderFx Nov 02: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 02 Nov 2021 09:30GMT

USD/JPY - 113.62
Despite the greenback's rise to a fresh 3-year peak at 114.69 last Wednesday, subsequent selloff to 113.42 last Friday, then 113.26 yesterday on downbeat US GDP data suggests Medium Term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 112.70/80, however, near term loss of momentum would keep price above 112.40/50 and yield a much-needed rebound later this week.

On the upside, only above 114.31 would revive bullishness for one more rise towards 114.69, then 114.90/00 before correction occurs.

The Fed starts its 2-day FOMC meeting today n the only U.S. eco. data due out is redbook retail sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Nov 2021 03:00GMT

EUR/USD - 1.1576
Euro's retreat from 1.1613 to 1.1576 (New York) yesterday suggests early corrective rise from 1.1535 (Friday) has possibly ended, below 1.1564 would add credence to this view and bring re-test of said support, then 2021 bottom at 1.1525.

Only a daily close above 1.1625 prolongs choppy trading and may risk stronger gain towards 1.1669 (Fed's dovish hold perhaps).

Data to be released on Wednesday :
Australia AIG construction index, services PMI, building permits, New Zealand employment change, unemployment rate, labour cost index, China Caixin services PMI, Japan Market holiday.
U.K. nationwide house price, France budget balance, Italy unemployment rate, U.K. Markit services PMI, EU unemployment rate.
U.S. MBA mortgage application, ADP employment change, international trade balance, goods trade balance, Markit services PMI, durables ex-defense, durable goods, factory orders, durables ex-transport, ISM non-manufacturing PMI, Fed interest rate decision.