AceTraderFx : Daily Recommendations on Major

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 14 Jan 2022 03:00GMT

EUR/USD - 1.1456
Euro's rally above 1.1452 (Wed) to a fresh 7-week peak at 1.1481 in New York Thursday on continued usd's weakness suggests recent upmove from Nov's 16-month trough at 1.1187 would extend towards 1.1525 but near term 'loss of momentum' should cap price at 1.1542/47 and yield decline later.

On the downside, only below 1.1415/20 may signal a temporary top is in place and risk stronger retracement towards 1.1386.

On the data front, the euro area will release a slew of data, pls refer to our EI page for details.
We also have ECB President Lagarde n ECB board member de Cos will also speak during NY morning.
 

AceTRaderForex

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AceTraderFx Jan 14: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 14 Jan2022 09:30GMT

USD/JPY - 113.81
Dollar's selloff below Mon's 115.05 bottom to a 3-week bottom at 114.01 in New York Thursday on continued usd's weakness due to fall in U.S. yields, then intra-day break there to 113.65 in Asia suggests decline from Jan's near 5-year 116.34 peak may head to 113.35/40 before prospect of a rebound due to loss of momentum.

On the upside, only a daily close above 114.39 signals a temporary trough is in place and stronger retracement to 114.65/70 is seen later.

Data to be released on Friday:
Japan corporate goods price, China exports, imports, trade balance.
U.K. GDP, industrial output, manufacturing output, construction output, trade balance, France budget balance, CPI, EU trade balance.
US import prices, export prices, retail sales, industrial production, capacity utilization, manufacturing output, business inventories and University of Michigan sentiment.
 

AceTRaderForex

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AceTraderFx Jan 17 Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 17 Jan 2022 03:00GMT

EUR/USD - 1.1405
Despite euro's resumption of recent upmove from Nov's 16-month trough at 1.1187 to a fresh 7-week 1.1482 top (Asia) on Fri, subsequent fall to 1.1399 in New York on safe-haven usd's buying signals temporary high is possibly in place and daily close below 1.1386 would ass credence to this view, yield stronger retracement towards 1.1355, then 1.1314.

On the upside, above 1.1448/52 is needed to suggest pullback over and may bring re-test of 1.1482.

Eco. calendar is pretty light with Italy's CPI n trade balance. There is a Eurogroup meeting in Brussels n ECB President Lagarde n ECB member Panetta will participate in the meeting.
 

AceTRaderForex

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AceTraderFx Jan 17 Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 17 Jan2022 09:30GMT

USD/JPY - 114.37
Although dollar's short covering rally after last Fri's selloff to a 3-1/2 week trough at 113.49 on active buying in yen signals recent decline from Jan's 5-year peak at 116.34 has made a temp. low there and range trading is in store, reckon 114.70/75 would hold and yield another fall, below 114.01 would yield re-test of said support later.

On the upside, only a daily close above 114.70 would risk stronger gain towards 115.05, break, 115.25/30.

Data to be released today:
Japan machinery orders, tertiary industry activities, China industrial output, retail sales, GDP.
U.K. Rightmove house price, Italy CPI.
Canada leading index, U.S. Market Holiday and Canada manufacturing sales on Monday.
 

AceTRaderForex

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Mar 19, 2013
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AceTraderFx Jan 18 Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 18 Jan 2022 03:00GMT

EUR/USD - 1.1409
Despite euro's resumption of recent upmove from Nov's 16-month trough at 1.1187 to a fresh 7-week 1.1482 top (Asia) on Fri, subsequent fall to 1.1399 and yesterday's break there to 1.1393 on continued usd's strength in thin North America trading signals temporary high is possibly in place and daily close below 1.1386 would add credence to this view, yield stronger retracement towards 1.1360, 1.1334.

On the upside, above 1.1448/52 is needed to suggest pullback over and may bring re-test of 1.1482.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details. Pay attention to German ZEW economic sentiment n EU's ZEW survey expectation. EcoFin ministers will meet in Brussels n ECB's Vice President de Guindos will participate in the meeting.
 

AceTRaderForex

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Mar 19, 2013
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AceTraderFx Jan 18 Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 18 Jan2022 09:30GMT

USD/JPY - 114.73
Despite the greenback's resumption of recent decline from Dec's near 5-year peak of 116.34 to a 3-1/2 week trough of 113.49 last Friday, subsequent strong rebound to 114.64 Mon and intra-day break there on BOJ unchanged rate decision suggests correction over and stronger retracement to 115.60/65 is seen.

On the downside, only below 114.26/36 signals said recovery is over and would risk weakness to 113.90/00 later.

Data to be released on Tuesday:
Japan BOJ interest rate decision, industrial output, capacity utilization, U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectation, Canada housing starts, U.S. New York Fed manufacturing, NAHB housing market index and New Zealand GDT price index.
 

AceTRaderForex

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Mar 19, 2013
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AceTraderFx Jan 19 Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 19 Jan 2022 03:00GMT

EUR/USD - 1.1325
Euro's intra-day selloff yesterday from 1.1421 (Asia) and then break of 1.1386 sup to as low as 1.1315 in New York due to broad-based usd's strength on surge in U.S. yields and global stock weakness suggests correction from 2021 Nov's 1.1187 trough has ended at 1.1482 (Fri) and weakness towards 1.1223 may be seen later this week.

Only a daily above 1.1386 dampens present bearish view and may risk stronger recovery to 1.1421 before prospect of another fall.

Data to be released on Wednesday:
New Zealand retail sales.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, Germany CPI, EU current account, construction output.
U.S. MBA mortgage application, building permits, housing starts, redbook and Canada wholesale trade.
 

AceTRaderForex

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

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 19 Jan2022 09:30GMT

USD/JPY - 114.41
Despite the greenback's erratic rise from last Friday's 3-1/2 week bottom at 113.49 to as high as 115.05 in Asia Tue, subsequent strong retreat to 114.46 in New York on safe-haven yen buying due to global stock weakness and intra-day break there suggests price may head to 114.65/70 before rebound.

On the upside, a daily close above 114.78 (Asia) would yield re-test of 115.05, break, 115.26/30 later.

U.S. will later release of slew of second-tier eco. data, so market will take cue from movement in U.S. yields n equities.
 

AceTRaderForex

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AceTraderFx Jan 20 Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 20 Jan 2022 03:00GMT

EUR/USD - 1.1347
Euro's early decline from Fri's 7-week peak at 1.1482 to as low as 1.1315 on Tue strongly suggests correction from 2021 16-month bottom at 1.1187 (Nov) has ended there and yesterday's recovery to 1.1356 (NY) would bring consolidation before down, loss of momentum would keep price above daily pivotal sup at 1.1273.

Only a daily close above 1.1386 dampens bearish outlook and may risk stronger gain to 1.1410/20 later.

Data to be released on Thursday:

New Zealand food price index, Australia consumer sentiment, consumer inflation expectation, employment change, unemployment rate, Japan exports, imports, trade balance.
U.K. RICS housing price balance, Germany producer prices, France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and existing home sales.
 

AceTRaderForex

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

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 20 Jan 2022 09:30GMT

USD/JPY - 114.34
Despite the greenback's erratic rise from last Friday's 3-1/2 week bottom at 113.49 to as high as 115.05 in Asia Tuesday, subsequent strong retreat to 114.46 in New York on safe-haven yen buying due to global stock weakness and intra-day break there suggests price may head to 114.65/70 before rebound.

On the upside, a daily close above 114.78 (Asia) would yield re-test of 115.05, break, 115.26/30 later.

U.S. will release a slew of eco. data later today, please refer to our EI page for details.
Pay attention to weekly jobless claims, continued jobless claims n Philly mfg index at 13:30GMT.
 

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 21 Jan 2022 03:00GMT

EUR/USD - 1.1303
Euro's intra-day fall on Thur from 1.1368 (Europe) and then break of 1.1315 (Tue) to 1.1304 in late New York on safe-haven usd buying due to renewed weakness in U.S. stocks suggests early upmove from Nov's 2021 16-month trough at 1.1187 has ended at last Fri's fresh 7-week 1.1482 top and below 1.1299 would head towards daily pivotal sup at 1.1273.

On the upside, only above 1.1368 may risk stronger retracement of aforesaid fall to 1.1381/86 next week.

On the data front, the only ecomomic data due out is EU's consumer confidence ar 15:00GMT. We also have ECB President Lagarde participates in virtual session at World Economic Forum in Davos at 12:30GMT.
 

AceTRaderForex

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

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 21 Jan2022 09:30GMT

USD/JPY - 113.91
The greenback intra-day firm break of 113.97 (Thur) on active yen buying due to risk-off trade suggests recovery from last Fri's 113.49 has possibly ended at 115.05 Tue and re-test of 113.49 would be forthcoming next, break would extend decline from Jan's 5-year high at 116.34 towards 113.15, then 112.90/95.

On the upside, only a daily close above 114.22 signals a temporary bottom is in place and stronger retracement to 114.54/55 would be seen next week.

Data to be released on Friday:
New Zealand manufacturing PMI, Australia manufacturing PMI, services PMI, Japan nationwide CPI.
U.K. Gkf consumer confidence, retail sales, EU consumer confidence, Canada ADP employment change, new housing price index, retail sales and leading index change.
 

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 24 Jan 2022 03:00GMT

EUR/USD - 1.1339
Although euro's rebound after extending recent decline from Jan's 1.1482 top to an 8-day bottom at 1.1302 in Asia suggests temporary low is made, as 1.1359 (NY) had capped recovery in New York, consolidation with downside bias remains and below 1.1302 would extend said fall towards 1.1302, then later 1.1273.

On the upside, only a daily close above 1.1386 risks stronger retracement of said fall towards 1.1405.

Today is PMI day in the euro area countries, pls refer to our EI page for details.
Pay attention to german n EU's Markit mfg n services PMIs, if actual readings come in weaker than forecast, then euro would come under renewed selling pressure.
 

AceTRaderForex

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

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 24 Jan2022 09:30GMT

USD/JPY - 113.69
Although the greenback's selloff to 113.61 in New York last Fri signals correction from Jan's 113.49 bottom has possibly ended at 115.05 last Tue, subsequent sideways swings then intra-day rebound would yield consolidation and below 113.49 would extend decline from Jan's near 5-year peak at 116.34 towards 113.15 later.

On the upside, a daily close above 114.54 would risk stronger retracement towards 115.00.

Data to be released today :
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, U.K. Markit manufacturing PMI, Markit services PMI.
U.S. national activity index, Markit manufacturing PMI, Markit services PMI and Dallas Fed manufacturing business index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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74
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AceTraderFx Jan 25: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 25 Jan 2022 03:00GMT

EUR/USD - 1.1323
Despite euro's brief break below last Fr's 1.1302 low to a near 2-week bottom at 1.1291 in New York yesterday, subsequent rebound on broad-based retreat in usd due to strong recovery in U.S. stocks suggests a temporary bottom is made there and retracement towards 1.1359 may be seen before recent decline from Jan's 7-week 1.1482 peak heads towards 1.1273 later.

On the upside, only a daily close abv 1.1359 may risk stronger gain twd 1.1386.

Data to be released on Tuesday:
New Zealand business NZ PSI, Australia NAB business conditions, NAB business confidence, CPI.
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. PSNB, PSNCR, CBI trends orders.
U.S. redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Jan 25: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 25 Jan2022 09:30GMT

USD/JPY - 113.93
Despite the greenback's selloff to a 1-month bottom at 113.48 in New York Mon, subsequent rebound to 113.99 in tandem with US yields n U.S. stocks, then intra-day break there to 114.09 in Australia suggests recent decline from Jan's near 5-year peak at 116.34 has made a temporary bottom there and retracement to 114.50/55 is likely before another fall.

On the downside, a daily close below 113.66 would yield further weakness towards 113.15 but 113.00 should hold.

U.S. will later release a slew of eco. data, pls refer to our EI page for details n pay attention to consumer confidence at 15:00GMT. The Fed starts its 2-day monetary policy today but market only anticipates a rate hike at Mar FOMC meeting.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Jan 26: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 26 Jan 2022 03:00GMT

EUR/USD - 1.1304
Although euro's break of previous Jan's 1.1273 low to 1.1264 Tue suggests correction from 2021 bottom at 1.1187 (Nov) has ended at 1.1482 in mid-Jan, subsequent short-covering rebound in tandem with U.S. stocks would bring consolidation before another fall, loss of downward momentum should keep price above 1.1223.

On the upside, only a daily close above 1.1368 aborts recent bearish outlook and risks stronger gain to 1.1395/00.

Data to be released on Wednesday:
New Zealand imports, trade balance, exports, Australia Market Holiday, Japan coincident index, leading indicator.
France consumer confidence, Swiss investor sentiment.
U.S. MBA mortgage application, building permits, goods trade balance, wholesale inventories, new home sales, Fed interest rate decision and Canada BOC interest rate decision.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
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74
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www.acetraderfx.com
AceTraderFx Jan 26: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 26 Jan2022 09:30GMT

USD/JPY - 114.09
Although the greenback's rebound from Mon's 1-month bottom at 113.48 to as high as 114.15 in New York Tue suggests recent decline from Jan's near 5-year peak at 116.34 has made a temporary low there, subsequent retreat in tandem with US stocks signals consolidation with downside bias remains and re-test of said support is seen but loss of momentum should keep price abv 113.15.

On the upside, only a daily close above 114.20/25 would risk stronger retracement to 114.54/55.

Data to be released on Wednesday:
New Zealand imports, trade balance, exports, Australia Market Holiday, Japan coincident index, leading indicator.
France consumer confidence, Swiss investor sentiment.
U.S. MBA mortgage application, building permits, goods trade balance, wholesale inventories, new home sales, Fed interest rate decision and Canada BOC interest rate decision.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 27: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 27 Jan 2022 03:00GMT

EUR/USD - 1.1235
Euro's selloff in post-FOMC New York from 1.1300 to a fresh 1-month bottom at 1.1236 due to broad-based usd's strength on Fed Powell's hawkish comments suggests further weakness would be seen, however, below 2021 bottom at 1.1187 (Nov) needed to retain bearishness for further decline towards projected downside target at 1.1222 later.

On the upside, only a daily close above 1.1310 (Wed high) signals temporary low is in place and risks stronger retracement to 1.1334/36 before down.

Data to be released on Thursday:
New Zealand CPI, Australia Westpac leading index, export prices, imports prices.
Germany Gfk consumer sentiment, Swiss exports, imports, trade balance, Italy industrial sales.
U.S. durable goods, durables ex-transport, durables ex-defense, GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing and Canada average weekly earnings.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,782
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 27: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 27 Jan2022 09:30GMT

USD/JPY - 114.86
Despite the greenback's resumption of recent decline from Jan's near 5-year 116.34 peak to Mon's 1-month bottom at 113.47, subsequent rally to as high as 114.69 in post-FOMC New York Wed on Fed Powell's hawkish comments, then intra-day break there suggests price would head towards 115.05 but above needed for further gain to 115.25/35.

On the downside, only a daily close below 114.15 would signal said recovery over and risk weakness to 113.79/84 tomorrow.

U.S. will later release a slew of eco. data, pls refer to our EI page for details. Pay attention to weekly jobless claims n continued jobless claims as well as Q4 GDP n Q4 PCE.