AceTraderFx : Daily Recommendations on Major

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 16 Sept 2021 03:00GMT

EUR/USD - 1.1820
Despite yesterday's sideways swings following early retreat from 1.1845 to 1.1800 on Tuesday, as this move signals recovery from Monday's 1.1771 low has possibly ended, downside bias remains, a daily close below 1.1800 would encourage for resumption of decline from September's 1.1908 peak, however, loss of downward momentum should keep price above 1.1730/35.

Only above 1.1845/51 res area dampens bearish outlook and may risk stronger gain to 1.1884/86 but only break there would yield subsequent re-test of 1.1908.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, Australia consumer inflation experience, employment change, unemployment rate, RBA Bulletin.
Italy trade balance, EU trade balance.
Canada housing starts, wholesale trade, ADP employment change, U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, retail sales and business inventories.
 

AceTRaderForex

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AceTraderFx Sept 16: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 16 Sept 2021 09:30GMT

USD/JPY - 109.34
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

U.S. will release a slew of eco. data, please refer to our EI page for details n today's market focus following Tuesday's CPI is August retail sales, a stronger-than-expected number would spur usd buying.
 

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 17 Sept 2021 03:00GMT

EUR/USD - 1.1761
Yesterday's resumption of recent decline from September's 1.1809 peak to a 2-1/2 week trough of 1.1752 in New York after a huge upbeat beat in U.S. retail sales and rally in U.S. yields suggest said move would resume after range trading, near term loss of downward momentum would keep euro above 1.1696/00 today.

On the upside, only a daily close above 1.1800 signals temporary low is in place, then risk would shift to upside for stronger retracement to 1.1845/50 next week.

EU will release a slew of eco. data, please refer to our EI page for details.
We also have ECB board member de Cos scheduled to speak at 08:00GMT.
 

AceTRaderForex

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Mar 19, 2013
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AceTraderFx Sept 17: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Sept 2021 09:30GMT

USD/JPY - 109.93
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

Data to be released on Friday:
New Zealand manufacturing PMI.
U.K. retail sales, EU current account, construction output, HICP.
U.S. University of Michigan sentiment.
 

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 20 Sept 2021 03:00GMT

EUR/USD - 1.1727
Euro's selloff to a 3-1/2 week low of 1.1725 in New York on Friday due to continued usd's strength on rising U.S. yields suggests early correction from August's 9-1/2 month bottom at 1.1664 has ended and re-test of this key support in envisaged later this week, today, reckon downside is limited to 1.1690/00.

On the upside, only a daily close above 1.1788 (Friday high) signals temporary rough is in place but reckon 1.1810/20 would cap upside.

On the data front, we have German producer prices n German Bundesbank monthly report.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Sept 20: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major
Update Time: 20 Sept 2021 09:30GMT

USD/JPY - 109.71
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

Data to be released later:
New Zealand Westpac consumer survey, Japan market holiday, China market holiday.
U.K. Rightmove house price , Germany producer prices.
U.S. NAHB housing market index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Sept 21: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 21 Sept 2021 03:00GMT

EUR/USD - 1.1729
Although euro's rebound from Monday's near 4-week low at 1.1701 to 1.1736 on short covering suggests recent decline has made a temporary bottom, as long as 1.1752 (previous sup, now res) holds, downside bias remains for marginal weakness, loss of downward momentum would keep price above 2021 bottom at 1.1664.

Only a daily close above 1.1752 would risk stronger retracement to 1.1788 but 1.1800 should cap upside.

Data to be released on Tuesday :
New Zealand Westpac consumer confidence, New Zealand GDT price, China market holiday.
U.K. PSNB, PSNCR, Swiss trade balance, exports, imports, U.K. CBI trends orders.
U.S. current account, building permits, hosing starts, redbook, Canada new housing price inde.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Sept 21: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major
Update Time: 21 Sept 2021 09:30GMT

USD/JPY - 109.64
Although dollar's intra-day rebound after yesterday's selloff from 110.03 to 109.33 in tandem with U.S. yields and active safe-haven buying in jpy suggests choppy trading above last week's bottom at 109.12 would continue, as long as 109.82 holds, daily bearishness remains and below 109.12 would extend recent decline towards support at 108.73.

On the upside, only above Friday's high at 110.07 would risk stronger retracement to 110.25/30 but resistance at 110.44 should remain intact.

The Fed starts its 2-day FOMC meeting today and on the data front, we have current account, building permits n housing starts. Traders will continue to take cue from global stock performance n movement in U.S. yields.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Sept 23: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 23 Sept 2021 03:00GMT

EUR/USD - 1.1688
Euro's intra-day selloff from 1.1755 to 1.1685 in post-FOMC New York after Fed's hawkish tilt suggests re-test of August's 9-1/2 month bottom at 1.1664 would be seen after consolidation, however, reckon daily sup at 1.1603 should hold from here and bring minor correction on Friday.

On the upside, only above 1.1755 confirms temporary low is in place and heads back towards 1.1788 but reckon 1.1800 should cap upside.

Data to be released on Thursday:
Australia manufacturing PMI, services PMI, Japan market holiday.
France Markit manufacturing PMI, Markit services PMI, Swiss SNB rate decision, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI, BoE interest rate decision, asset purchase program, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPV vote cut.
U.S. initial jobless claims, continuing jobless claims, Markit manufacturing PMI, Markit services PMI, Leading index change, KC Fed manufacturing and Canada retail sales.
 

AceTRaderForex

Master Trader
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AceTraderFx Sept 23: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major
Update Time: 23 Sept 2021 09:30GMT

USD/JPY - 109.91
Yesterday's rally from 109.13 (Asia) to 109.89 after Fed's hawkish tilt, then intra-day cross-inspired break above there suggests re-test of 110.07 would be seen, break signals correction from September's 110.44 peak has ended and yields further gain to 110.15.

Only below 109.60/64 'prolongs' broad sideways swings and may yield weakness to 109.42, break, 109.12/13 later.

U.S. will later release a slew of eco. data, please refer to our EI page for details. Pay attention to weekly jobless claims, continued jobless claims, then Markit services n mfg PMIs, a better-than-expected reading will spur more usd buying.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Sept 24: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 24 Sept 2021 03:00GMT

EUR/USD - 1.1744
Euro's rebound from Thursday's 4-week trough at 1.1684 in Asia to as high as 1.1750 signals recent decline from September's 1.1908 peak has made a temporary low and consolidation with upside bias is seen, above Wednesday's post-FOMC high at 1.1755 would bring stronger retracement but reckon 1.1800 would cap upside.

On the downside, a daily close below 1.1701 suggests recovery is over, then price would be en route towards 2021 bottom at 1.1664 early next week.

On the data front, Italy will kick off with business n consumer confidence, then pay atttention to German Ofo business climate, current conditions n expectations.
We also have a no. of ECB members scheduled to speak, pls rrefer to our EI page for details.
 

AceTRaderForex

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Sept 2021 09:30GMT

USD/JPY - 110.40
Dollar's intra-day cross-inspired break of previous September's 110.44 high suggests re-test of August's 110.79 top would be seen after consolidation, above there would encourage for further headway towards 111.11 early next week before retreat due to overbought condition.

Only below 110.07 (prev. res, now sup) signals temporary top is made, then risk would shift to downside for stronger retracement to 109.70.

Data to be released on Friday:
New Zealand imports, exports, trade balance, Japan CPI, manufacturing PMI.
UK consumer confidence, Italy business confidence, consumer confidence, Germany Ifo business climate, Ifo current conditions.
Canada budget balance and U.S. building permits, new home sales.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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74
Hong Kong
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AceTraderFx Sept 27: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 27 Sept 2021 03:00GMT

EUR/USD - 1.1722
Friday's retreat to 1.1701 (New York) suggests recovery from Thursday's fresh 4-week low at 1.1684 has ended at 1.1750 and subsequent sideways swings would bring consolidation before re-test of 2021 bottom at 1.1664.

Only above 1.1750/55 res dampens bearish outlook and risks stronger retracement towards 1.1788 but reckon 1.1800 would cap upside and yield decline.

On the eco. front, we have France's producer prices, Italy's trade balance and Germany's Bundesbank monthly report. ECB President Lagarde will speak before European Parliament at 11:45GMT.
ECB's Panetta n de Cos will also speak later in the day (please refer to EI page for details).
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,043
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74
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AceTraderFx Sept 27: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 27 Sept 2021 09:30GMT

USD/JPY - 110.80
Dollar's intra-day cross-inspired break of previous September's 110.44 high suggests re-test of August's 110.79 top would be seen after consolidation, above there would encourage for further headway towards 111.11 early next week before retreat due to overbought condition.

Only below 110.07 (prev. res, now sup) signals temporary top is made, then risk would shift to downside for stronger retracement to 109.70.

Data to be released today:
France producer prices, Italy trade balance non-EU.
U.S. durable goods, durables ex-transport, durables ex-defense and Dallas Fed manufacturing index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,043
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Sept 28: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 28 Sept 2021 03:00GMT

EUR/USD - 1.1694
Yesterday's weakness to 1.1685 (Europe) due to cross-selling in euro suggests correction from Thursday's 4-week low at 1.1684 has ended at 1.1750 and re-test of 2021 bottom at 1.1684 (Aug) is envisaged after consolidation, however, loss of downward momentum should keep euro above 1.1620/25.

On the upside, only above Mon's 1.1727 top prolongs volatile sideways swings from 1.1684 and may risk another bounce to 1.1750/55.

Data to be released on Tuesday:
Australia retail sales.
Germany Gfk consumer sentiment, France consumer confidence.
Canada average weekly earnings, U.S. good trade balance, wholesale inventories, redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Sept 28: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 28 Sept 2021 09:30GMT

USD/JPY - 111.30
Dollar's intra-day cross-inspired break of previous Sep's 110.44 high suggests re-test of Aug's 110.79 top would be seen after consolidation, above there would encourage for further headway towards 111.11 early next week before retreat due to overbought condition.

Only below 110.07 (prev. res, now sup) signals temporary top is made, then risk would shift to downside for stronger retracement to 109.70.

U.S. will later release consumer confidence n Richmond Fed mfg index. Pay attention to testimony of Fed chief J.Powell when he starts his 2-day appearance before the Senate.
As reported earlier, in remarks to be delivered Tuesday, cautioned Washington legislators that the causes of the recent rise in inflation may last longer than anticipated. We also have other Fed officials scheduled to speak in New York session (please refer to EI page for details.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,043
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74
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AceTraderFx Sept 29: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 29 Sept 2021 03:00GMT

EUR/USD - 1.1685
Yesterday's weakness to a 5-week 1.1668 low suggests re-test of 2021 bottom at 1.1664 (August) would be forthcoming next and yield medium-term downtrend, however, loss of downward momentum should keep euro above 1.1603 today and bring a minor correction.

On the upside, only a daily close above 1.1710 signals temporary low is made and yields stronger recovery, however, reckon res at 1.1750/55 should cap upside.

Data to be released on Wednesday:
U.K. BRC shop price index, nationwide house price, Italy producer prices, Swiss investor sentiment, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. MBA mortgage application, pending home sales, and Canada producer prices.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,043
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Sept 29: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 29 Sept 2021 09:30GMT

USD/JPY - 111.23
Although dollar's retreat from intra-day 1-1/2 year peak at 111.68 suggests recent uptrend has made a temporary top and consolidation is in store, as long as 111.06 holds, gain to 111.90/00 is likely but loss of momentum would cap price below 112.22.

Only a daily close below 111.06 risks stronger retracement towards 110.79 before prospect of rebound tomorrow.

U.S. will release second-tier eco. data MBA mortgage applications n pending home sales. Fed Chair will appear before the U.S. Senate on his second day of 2-day testimony on Capital Hill, we also have a number of Fed officials scheduled to speak in New York session, please refer to our EI page for details
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,043
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Sept 30: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 30 Sept 2021 03:00GMT

EUR/USD - 1.1602
Yesterday's break of previous 2021 low at 1.1664 (now res) to a 14-month trough of 1.1590 in New York due to broad-based usd's demand suggests medium-term downtrend has once again resumed and price would head towards next projected target at 1.1536 later today or Friday, oversold condition should keep euro above 'psychological' 1.1500 handle.

On the upside, only above 1.1664 confirms temporary bottom is in place, then risk would shift to upside for a stronger retracement to 1.1690/00.

The euro are countries will release a slew of eco. data as well as inflation data n also we have a number of ECB officials scheduled to speak in European session, please refer to our EI page for details.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,043
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Sept 30: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 30 Sept 2021 09:30GMT

USD/JPY - 111.86
Although dollar's retreat from intra-day 1-1/2 year peak at 112.05 suggests recent uptrend has made a temporary top and consolidation is in store, as long as 111.22 holds, daily bullishness remains for Medium Term upmove to resume and head towards 112.50/55, loss of momentum would cap price below 112.70/80 and yield a much-needed correction early next week.

Only a daily close below 111.06 risks stronger retracement towards 110.79 before prospect of rebound tomorrow.

Data to be released on Thursday:
New Zealand building permits, NBNZ business outlook, NBNZ own activity, Japan industrial output, retail sales, construction orders, housing starts, China NBS manufacturing PMI, Caixin manufacturing PMI, Australia building permits.
Germany import prices, France consumer spending, CPI, producer prices, Swiss KOF indicator, Germany unemployment change, unemployment rate, CPI, Italy unemployment rate, CPI, U.K. GDP, current account, EU unemployment rate.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims and Chicago PMI.