AceTraderFx : Daily Recommendations on Major

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 19 Aug 2021 03:00GMT

EUR/USD - 1.1688
Despite euro's short-covering jump to 1.1742 in New York Wednesday after release of less hawkish Fed minutes, intra-day break of Wednesday's 10-month trough at 1.1695 confirms medium-term downtrend has once again resumed, however, reckon daily sup at 1.1603 would remain intact this week and bring minor correction next week.

On the upside, only above 1.1742 signals temporary bottom is in place and may risk stronger retracement towards 1.1784.

Data to be released on Thursday:
Australia employment change, unemployment rate.
Swiss trade balance, exports, imports, industrial production, EU current account.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, leading index change and Canada ADP employment change.
 

AceTRaderForex

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AceTraderFx Aug 19: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 19 Aug 2021 09:30GMT

USD/JPY - 109.68
Despite the greenback's strong rebound from Monday's low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August's peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August's bottom at 108.73 should hold on first testing.

On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.

ON the data front, U.S. will release initial jobless claims, continued jobless claims, Philly Fed mfg index n leading index change.
 

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 20 Aug 2021 03:00GMT

EUR/USD - 1.1683
Although euro's short-covering rebound from Thursday's 9-month bottom at 1.1667 to 1.1704 (New York) suggests initial consolidation is in store, outlook remains for medium-term downtrend to head towards next daily chart objective at 1.1603 early next week.

Only a daily close above 1.1715 signals temporary low is made and may risk stronger retracement towards 1.1742 but 1.1761 should cap upside and yield another fall.

Euro area eco. calendar is pretty light today with German producer price for Jul being the only data due out at 06:00GMT.
 

AceTRaderForex

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

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 20 Aug 2021 09:30GMT

USD/JPY - 109.62
Despite the greenback's strong rebound from Monday's low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August's peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August's bottom at 108.73 should hold on first testing.

On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.

Data to be released on Friday:
U.K. Gfk consumer confidence, PSNB, PSNCR, retail sales, Japan nationwide CPI, Germany producer prices.
Canada retail sales and new housing price index.
 

AceTRaderForex

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Mar 19, 2013
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AceTraderFx Aug 23: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 23 Aug 2021 03:00GMT

EUR/USD - 1.1702
Euro's rebound from Fri's 9-1/2 month trough at 1.1664 to 1.1704 on short covering in New York suggests recent downtrend has made a temporary low and range trading is in store before prospect of one more fall, 'loss of momentum' should keep price above key daily sup at 1.1603.

A daily close above 1.1715 would risk stronger retracement towards 1.1742, break may extend to 1.1770/80 later this week.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details.
Today is PMI day, pay attention to German n EU's Markit mfg n services PMIs at 07:30GMT n 08:00GMT respectively.
 

AceTRaderForex

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AceTraderFx Aug 23: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 23 Aug 2021 09:30GMT

USD/JPY - 109.96
Despite the greenback's strong rebound from Monday's low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August's peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August's bottom at 108.73 should hold on first testing.

On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.

Data to be released next week :
Australia manufacturing PMI, services PMI, Japan Jibun bank manufacturing PMI.
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, consumer confidence, U.K. Markit manufacturing PMI, Markit services PMI, CBI trends orders.
U.S. Markit manufacturing PMI, Markit services PMI and existing home sales on Monday.
 

AceTRaderForex

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AceTraderFx Aug 24: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 24 Aug 2021 03:00GMT

EUR/USD - 1.1744
Yesterday's rally above Fri's 1.1704 high (now sup) to 1.1750 confirms medium-term downtrend has made a temporary low at Friday's 9-1/2 month trough at 1.1664 and upside bias remains for stronger retracement towards 1.1804 res which may hold on 1st testing.

Only a daily close below 1.1704 signals said correction has ended, then risk would shift to downside for weakness to 1.1793 but 1.1664 should remain intact

Data to be released on Tuesday:
New Zealand retail sales.
Germany GDP.
U.S. building permits, redbook, new home sales and Richmond Fed manufacturing.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Aug 24: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 24 Aug 2021 09:30GMT

USD/JPY - 109.77
Despite the greenback's strong rebound from Monday's low at 109.12 to 110.22 in Asia today, subsequent sharp retreat in tandem with U.S. yields suggests further choppy trading below August's peak at 110.79 would continue with downside bias and below 109.49 would bring weakness to 109.12, however, August's bottom at 108.73 should hold on first testing.

On the upside, only above 110.22 would revive bullishness for gain towards 110.54, then 110.79 early next week.

U.S. will release a slew of second-tier eco. data, pls refer to our EI page for details.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Aug 25: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 25 Aug 2021 03:00GMT

EUR/USD - 1.1754
Yesterday's marginal gain to 1.1765 on broad-based usd's weakness suggests upmove from Friday's 9-1/2 month bottom at 1.1664 would extend marginally after consolidation, however, loss of upward momentum should cap price below res at 1.1804 today and yield decline later this week.

A daily close below Tue's 1.1728 low (Europe) signals said corrective rise has possibly ended and heads back to 1.1693, then 1.1673.

Data to be released on Wednesday:
New Zealand imports, trade balance, exports, Australia construction work done, Japan coincident index, Germany Ifo business climate, Ifo current conditions, Ifo expectations.
Swiss investor sentiment, U.K. CBI distributive trades, MBA mortgage application, durable goods, durables ex-transport and durables ex-defense.
 

AceTRaderForex

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

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 25 Aug 2021 09:30GMT

Despite esterday's cross-inspired brief break of prev. 109.49 sup to 109.42 (New York), subsequent bounce in tandem with US yields to 109.75, then intra-day gain to 109.86 suggests pullback from last week's 110 .22 high over, above needed to head to 110.50/54.

Turn cautious buyer on dips for 110.20 as only below 109.42 may risk weakness towards 109.12.

U.S. will release durable goods at 12:30GMT n later we have S. Francisco Fed President Daly (voter) participating at an academic event at 17:00GMT.
 

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 26 Aug 2021 03:00GMT

EUR/USD - 1.1769
Despite yesterday's resumption of upmove from Friday's 9-1/2 month trough of 1.1664 to 1.1774 (New York) after meeting renewed buying at 1.1726, near term loss of upward momentum should cap price below res at 1.1804 and yield strong retreat later today or tomorrow.

On the downside, below 1.1726 signals at least the 1st leg of correction from 1.1664 is over and heads back towards 1.1693.

On the data front, we have Germany's Gfk consumer sentiment, France's business climate n then Italy's industrial sales. ECB board member Schnabel will participate in Economist Roundtable on ECB's strategy review organized by the German Federal Ministry of Finance at 15:00GMT.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Aug 26: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major
Update Time: 26 Aug 2021 09:30GMT

USD/JPY - 110.18
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and intra-day break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

Data to be released on Thursday :
Australia capital expenditure, building capex.
Germany Gfk consumer sentiment, Swiss non-farm payrolls, France business climate, Italy industrial sale.
U.S. GDP, Core PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Aug 27: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 27 Aug 2021 03:00GMT

EUR/USD - 1.1744
Yesterday's retreat from 1.1779 to 1.1747 (New York), then intra-day break there in Asia signals 1st leg of correction from last Friday's 9-1/2 month bottom at 1.1664 has ended and downside bias remains for a strong retracement of said move ahead of Fed J. Powell's Jackson Hole speech but reckon 1.1664 would hold.

Only above 1.1779 risks one more rise towards res at 1.1804 before prospect of decline next week.

On the data front, Germany will kick off with import prices, then France's consumer confidence and Italy's business and consumer confidence but market's key focus is Jackson Hole.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Aug 27: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 27 Aug 2021 09:30GMT

USD/JPY - 110.13
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales.
France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal income, personal spending, Core PCE price index, PC price index, goods trade balance, wholesale inventories, University of Michigan sentiment, Canada producer prices and budget balance.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Aug 30: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 30 Aug 2021 03:00GMT

EUR/USD - 1.1801
Friday's rally from 1.1735 in New York to a near 2-week high of 1.1802 after dovish Fed J. Powell's Jackson Hole speech suggests upmove from August's 1.1664 bottom remains in force, however, overbought condition should cap price below 1.1857 and yield retracement of said move.

A daily close below 1.1779 would be the 1st signal temporary top is made and yield retracement towards 1.1735 later today or tomorrow.

The euro area countries will release a slew of eco. data, please refer to our EI page for details.
ECB Board member Schnabel will chair at ECB Annual Research Conference at 15:00GMT.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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74
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AceTraderFx Aug 30: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 30 Aug 2021 09:30GMT

USD/JPY - 109.82
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

Data to be released later:
Japan retail sales, Australia business inventories.
Swiss KOF indicator, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI.
Canada current account, U.S. pending home sales and Dallas Fed business index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,043
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Aug 31: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 31 Aug 2021 03:00GMT

EUR/USD - 1.1797
Despite euro's retreat from Monday's 2-week high of 1.1810 (Asia) to 1.1784 in New York morning, subsequent rebound suggests upmove from Aug's 9-1/2 month bottom at 1.1664 would extend marginal gain after consolidation, loss of upward momentum should cap price below 1.1857 and yield strong retracement of said rise later today or tomorrow.

A daily close below 1.1779 would indicate temporary top is made and head back towards 1.1735 (Friday's low).

Data to be released on Tuesday:
Japan building permits, unemployment rate, industrial output, China NBS non-manufacturing PMI, NBS manufacturing PMI, New Zealand NBNZ business outlook, NBNZ own activity, Australia building permits, current account, net exports contribution, Japan consumer confidence, construction orders, housing starts.
France consumer spending, GDP, CPI, producer prices, Germany unemployment change, unemployment rate, Italy GDP, CPI, producer prices, EU HICP.
Canada GDP, U.S. redbook, monthly home price, Chicago PMI and consumer confidence.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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74
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www.acetraderfx.com
AceTraderFx Aug 31: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major
Update Time: 31 Aug 2021 09:30GMT

USD/JPY - 109.86
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (August) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

U.S. will release a slew of eco. data later today, please refer to our EI page for details and pay attention to Chicago PMI at 13:45GMT and then Conference Board consumer confidence at 14:00GMT, market forecast for both data is a lower reading, so if actual data come in as per street estimate or weaker, then one can expect more usd's weakness.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Sept 01: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 01 Sept 2021 03:00GMT

EUR/USD - 1.1805
Euro's retreat from Tuesday's 3-week high of 1.1847 suggests recent upmove from August's bottom at 1.1664 has possibly made a top and consolidation with downside bias is seen, below 1.1784 would add credence to this view and head back towards 1.1735 later.

On the upside, only above 1.1847 risks marginal gain but loss of upward momentum would cap price at 1.1885/90 and yield decline.

Data to be released on Wednesday:
Australia AIG manufacturing index, manufacturing PMI, GDP, Japan Jibun bank manufacturing PMI, China caixin manufacturing PMI.
Germany retail sales, Markit manufacturing PMI, U.K. nationwide house price, Swiss manufacturing PMI, Italy Markit manufacturing PMI, France Markit manufacturing PMI, Italy unemployment rate, EU Markit manufacturing PMI, unemployment rate, U.K. Markit manufacturing PMI.
U.S. MBA mortgage application, ADP employment change, Markit manufacturing PMI, construction spending, ISM manufacturing PMI and Canada Markit manufacturing PMI.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,043
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Sept 01: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 01 Sept 2021 09:30GMT

USD/JPY - 110.35
The greenback's rally from Tuesday's low at 109.42 to 110.12 yesterday and yesterday's break above there in tandem with rising U.S. yields and cross-selling in jpy suggests further choppy trading above last Tuesday's low at 109.12 would continue with upside bias and above reaction high at 110.22 would bring stronger retracement of near term decline from 110.79 (Aug) towards 110.54.

On the downside, only below 109.88 would indicate aforesaid recovery has ended instead and risk weakness to 109.63/66, then 109.42.

U.S. will release a slew of eco. data, pls refer to our EI page for details n pay attention to ADP private payrolls, then Markit mfg PMI n later ISM mfg PMI. Atlanta Fed President Bostic (voter) will speak at a virtual event at 16:00GMT.