AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2022 03:00GMT

EUR/USD - 1.0774
Euro's selloff from last Thursday's peak at 1.0923 to a near 2-year bottom at 1.0758 in post-ECB suggests medium term downtrend remains in force and as 1.0830 has capped subsequent recovery, yesterday's retreat to 1.0771 on broad-based usd's strength due to rally in U.S. yields suggests consolidation with downside bias remains, below 1.0758 would yield 1.0730/35.

On the upside, only a daily close above 1.0834 signals a temporary trough is in place and risks stronger gain to 1.0860/70.

Data to be released on Tuesday :
New Zealand business NZ PSI, GDT price index, Japan industrial production, capacity utilization.
Canada housing starts, U.S. housing starts, building permits and redbook.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2022 09:30GMT

USD/JPY - 128.45
Dollar's impressive rally from 126.97 (AUS) to a fresh near 20-year peak of 128.32 at European open, then present break there on active selling in yen suggests recent uptrend would head to 128.35 after consolidation, however, overbought condition is likely head to cap price below 128.65/70 and yield a much-needed correction later.

On the downside, only a daily close below 127.22/27 would indicate a temporary top is in place and risk stronger retracement towards 126.79.

Data to be released on Tuesday :
Canada housing starts, U.S. housing starts, building permits and redbook.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2022 03:00GMT

EUR/USD - 1.0789
Euro's break of 1.0771 (Mon) to 1.0762 in Asia Tuesday suggests recovery from last Thursday's near 2-year bottom at 1.0758 has ended at 1.0830 the same day and as 1.0814 has capped subsequent rebound in Europe yesterday, bearishness remains for re-test of 1.0758, below would pressure price to 1.0720/22.

On the upside, only a daily close above 1.0813/14 would indicate a temporary trough is in place and risk stronger retracement towards 1.0834, 1.0855/60.

Data to be released on Wednesday:
Japan exports, imports, trade balance, tertiary industry activity, Australia Westpac leading index.
Germany producer prices, Italy trade balance, EU industrial production, trade balance.
U.S. MBA mortgage application, existing home sales, Canada new housing price index and CPI.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2022 09:30GMT

USD/JPY - 128.66
Despite dollar's intra-day rally above 128.97 (Tuesday) to a fresh 20-year peak at 129.40 in Asia on active selling in yen, subsequent brief but sharp retreat to 128.07 in tandem with U.S. yields suggests recent upmove has made a temporary top there and consolidation is in store, reckon 126.30/35 would hold and yield another rise, above 129.40, 129.70/80 later.

On the downside, only a daily close below 128.07 would risk stronger retracement towards 127.79.

Data to be released on Wednesday:
Germany producer prices, Italy trade balance, EU industrial production, trade balance.
U.S. MBA mortgage application, existing home sales, Canada new housing price index and CPI.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2022 03:00GMT

EUR/USD - 1.0842
Euro's rally above 1.0834/37 resistance to 1.0867 in Europe on broad-based retreat in usd due to fall in U.S. yields suggests recent erratic decline has made a temporary bottom at last Thursday's near 2-year bottom at 1.0758 and stronger retracement towards 1.0890/94 is likely before another fall, below 1.0807 would head back to 1.0783, then 1.0758/62 later.

On the upside, only a daily close above 1.0923 would risk stronger gain to 1.0938/45, break, 1.0965/70.

Data to be released on Thursday:
New Zealand CPI.
France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and EU consumer confidence.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2022 09:30GMT

USD/JPY - 128.18
Dollar's selloff from Wednesday's fresh near 20-year peak at 129.40 to as low as 127.47 in New York on broad-based usd's retreat due to fall in U.S. yields suggests recent erratic upmove has made a temporary top there and as 128.63 has capped intra-day recovery in Asia, consolidation with downside bias remains but below 127.47 needed to yield stronger retracement towards 127.22.

On the upside, only a daily close above 128.63/74 would revive bullishness for 128.98, break would re-test said resistance later.

Data to be released on Thursday:
France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and EU consumer confidence.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Apr 2022 03:00GMT

EUR/USD - 1.0839
Despite euro's rally above 1.0867 (Wednesday) to a 2-week high of 1.0936 in Europe yesterday on hawkish comments from ECB's de Guindos, subsequent selloff to 1.0830 in New York on renewed usd's strength due to hawkish comments from Fed's Powell suggests correction from last Thursday's near 2-year 1.0758 bottom has ended and weakness towards 1.0805/10 is seen.

On the upside, only a daily close above 1.0893 indicates aforesaid pullback over and risks stronger gain to 1.0920/30.

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

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Apr 2022 09:30GMT

USD/JPY - 128.12
Although dollar's erratic rise from 127.47 (Wednesday) to 128.70 Thur in tandem with U.S. yields suggests 1st leg of correction from last Wednesday's fresh near 20-year peak at 129.40 has ended, intra-day retreat from 128.69 to 127.75 in Europe on possible yen intervention news suggests choppy trading below said resistance would continue and below 127.47 would yield stronger retracement towards 127.20/25 later.

On the upside, only a daily close above 128.69/74 would abort daily bearishness and risk stronger gain to 129.00/10 on Monday.

Data to be released on Friday:
U.K. Gfk consumer confidence, retail sales, 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, EU current account.
Canada producer prices, retail sales, U.S. Markit manufacturing PMI and Markit services PMI.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2022 03:00GMT

EUR/USD - 1.0805
Although euro's selloff from last week's high at 1.0936 (Thur) to as low as 1.0771 in New York morning Fri due to broad-based safe-haven buying in usd suggests correction from Apr's near 2-year bottom at 1.0758 has ended, intra-day higher open to 1.0840 on news of election win by French President Macron Sun would bring 'choppy' swings.

As long as 1.0867 holds, daily downside bias remains for another fall, below 1.0771 would encourage for weakness to 1.0758/62 and only above 1.0867 risks stronger gain to 1.0880/90.

Data to be released later:
New Zealand Market Holiday, Australia Market Holiday, Japan coincident index, leading index.
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2022 09:30GMT

USD/JPY - 128.07
Although dollar's erratic rise from 127.47 (Wed) to 128.70 Thur in tandem with U.S. yields suggests 1st leg of correction from last Wed's fresh near 20-year peak at 129.40 has ended, intra-day retreat from 128.69 to 127.75 in Europe on possible yen intervention news suggests choppy trading below said resistance would continue and below 127.47 would yield stronger retracement towards 127.20/25 later.

On the upside, only a daily close above 128.69/74 would abort daily bearishness and risk stronger gain to 129.00/10 later this week.

Data to be released later:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2022 03:00GMT

EUR/USD - 1.0715
Euro's selloff below 1.0771 (Friday) to a fresh 2-year bottom at 1.0698 in New York yesterday on risk-averse usd buying suggests medium term decline remains in force and and further weakness towards 1.0670 is seen, reckon 1.0636 should hold and yield correction later.

On the upside, only a daily close above 1.0771 indicates a temporary trough is is in place and risks stronger retracement to 1.0800/10.

Data to be released on Tuesday:
U.K. right move house price, Japan unemployment rate, U.K. PSNB, PSNCR, Swiss exports, imports, trade balance.
U.S. building permits. durable goods, durable ex-transport, durables ex-defense, U.S. redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2022 09:30GMT

USD/JPY - 127.95
Although dollar's early strong retreat from last Wed's near 2-year peak at 129.40 for 127.53 in New York morning yesterday and intra-day break there to 127.35 in Asia suggests recent upmove has made a temporary top there, subsequent rebound signals consolidation with upside bias remains but above 128.59 is needed to extend towards 128.86.

On the downside, only a daily close below 127.35 would risk stronger retracement to 127.00/10.

Data to be released on Tuesday:
U.K. right move house price, Japan unemployment rate, U.K. PSNB, PSNCR, Swiss exports, imports, trade balance.
U.S. building permits. durable goods, durable ex-transport, durables ex-defense, U.S. redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Apr 2022 03:00GMT

EUR/USD - 1.0553
Euro's resumption of decline to a 5-year bottom at 1.0515 in New York yesterday on continued usd's strength suggests weakness to 1.0500 handle is envisaged but below needed to extend further fall to 1.0470/75 before prospect of correction later.

On the upside, only a daily close above 1.0654 would indicate a temporary bottom is in place and risk stronger retracement towards 1.0698, break, 1.0738.

Data to be released on Thursday:
New Zealand imports, trade balance, exports, NBNZ business outlook, NBNZ own activity, Australia export prices, import prices, Japan industrial output, retail sales, BOJ interest rate decision, construction orders, housing starts.
Italy business confidence, consumer confidence, industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Apr 2022 09:30GMT

USD/JPY - 130.70
Dollar's intra-day impressive rally in Asia on active selling in yen after BoJ's dovish hold and then break of last Wednesday's near 20-year peak at 129.60 suggests recent upmove would extend to 130.85, however, reckon 131.50/55 would hold and yield a much-needed correction due to overbought condition.

On the downside, only a daily close below 129.40 would indicate a temporary top is in place and risk stronger retracement to 128.90/00 later.

Data to be released on Thursday:
Italy business confidence, consumer confidence, industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

 

[AceTRaderForex]

AceTraderFx Apr 29: Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2022 03:00GMT

EUR/USD - 1.0507
Euro's selloff below 1.0515 (Wednesday) to a fresh 5-year bottom at 1.0472 in New York yesterday on continued usd's strength suggests recent downtrend may extend towards 1.0436, however, reckon 1.0405/10 would contain downside and yield correction later today due to loss of downward momentum.

On the upside, only a daily close above 1.0586 indicates a temporary bottom is in place and risks stronger retracement to 1.0635/40 Mon.

Data to be released on Friday:
Australia PPI, Japan Market Holiday, China Caixin manufacturing PMI.
France consumer spending, GDP, CPI, producer prices, Germany import prices, export prices, GDP, U.K. nationwide house price, Swiss retail sales, KOF indicator, Italy GDP, CPI, producer prices, EU HICP, GDP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.

 

[AceTRaderForex]

AceTraderFx Apr 29: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2022 09:30GMT

USD/JPY - 130.35
Despite dollar's impressive rally above previous April's peak at 129.40 to a 20-year high of 131.24 on active selling in yen after BoJ's dovish hold, intra-day retreat on broad-based profit taking in usd signals consolidation is in store, reckon 129.85/90 would contain downside and yield another rise, above 131.24 would extend to 131.48/53 later.

On the downside, only a daily close below 129.60 would indicate a temporary top is in place and risk stronger retracement towards 129.40, break, 129.10.

Data to be released on Friday:
France consumer spending, GDP, CPI, producer prices, Germany import prices, export prices, GDP, U.K. nationwide house price, Swiss retail sales, KOF indicator, Italy GDP, CPI, producer prices, EU HICP, GDP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 May 2022 03:00GMT

EUR/USD - 1.0520
Euro's decline to 1.0491 (New Yoyk) on Mon due to renewed usd's strength on gain in U.S. yields suggests correction from Thursday's 5-year bottom at 1.0472 has ended and re-test of this key sup is envisaged after consolidation, loss of downward momentum would limit weakness to 1.0435/40.

Only above 1.0568 prolongs choppy swings above 1.0472 and may risk gain towards 1.0592 but reckon 1.0630/35 should cap upside.

Data to be released on Tuesday :
New Zealand building permits, GDT price index, Australia RBA interest rate decision Japan Market Holiday, China Market Holiday.
France budget balance, Germany unemployment rate, unemployment change, U.K. Markit manufacturing PMI, EU producer prices, unemployment rate.
U.S. redbook, durable goods, durables ex-defense, factory orders, durables ex-transport, JOLTS job openings.

 

[AceTRaderForex]

AceTraderFx May 03: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 May 2022 09:30GMT

USD/JPY - 130.16
Despite dollar's impressive rally above previous April's peak at 129.40 to a 20-year high of 131.24 on active selling in yen after BoJ's dovish hold, intra-day retreat on broad-based profit taking in usd signals consolidation is in store, reckon 129.85/90 would contain downside and yield another rise, above 131.24 would extend to 131.48/53 later.

On the downside, only a daily close below 129.60 would indicate a temporary top is in place and risk stronger retracement towards 129.40, break, 129.10.

Data to be released on Tuesday :
France budget balance, Germany unemployment rate, unemployment change, U.K. Markit manufacturing PMI, EU producer prices, unemployment rate.
U.S. redbook, durable goods, durables ex-defense, factory orders, durables ex-transport, JOLTS job openings.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 May 2022 03:00GMT

EUR/USD - 1.0522
Although euro's rebound to 1.0592 in Europe last Friday suggests long term decline has made a temporary bottom at Thursday's fresh 5-year low at 1.0472, yesterday's retreat from 1.0578 at New York open on renewed usd's strength has retained bearishness and below 1.0472 would yield further weakness to 1.0428/33 later.

On the upside, only a daily close above 1.0578 would risk stronger retracement towards 1.0592, break would head to 1.0615/20 before prospect of another fall.

Data to be released on Wednesday:
Australia AIG construction index, services PMI, retail sales, New Zealand unemployment rate, employment change, labor cost index.
U.K. BRC shop price, Japan Market Holiday, China Market Holiday, Germany exports, imports, trade balance, current account, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage application, ADP employment change, international trade balance, good trade balance, Markit services PMI, ISM non-manufacturing PMI, Fed interest rate decision, Canada trade balance, exports and imports.

 

[AceTRaderForex]

AceTraderFx May 04: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 May 2022 09:30GMT

USD/JPY - 130.04
Although dollar's retreat from last Thursday's 20-year peak a 131.24 to 129.33 Fri signals recent upmove has made a temporary top there, subsequent rebound and daily sideways swings suggests consolidation is in store, as long as Tuesday's bottom at 129.71 holds, upside bias remains but above 130.47 needed for 130.70/80, break would yield re-test of said resistance.

On the downside, only a daily close below 129.62 would risk stronger retracement towards 129.33, break, 129.00/10.

Data to be released on Wednesday:
U.K. BRC shop price, Japan Market Holiday, China Market Holiday, Germany exports, imports, trade balance, current account, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage application, ADP employment change, international trade balance, good trade balance, Markit services PMI, ISM non-manufacturing PMI, Fed interest rate decision, Canada trade balance, exports and imports.