AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

AceTraderFx May 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 May 2022 03:00GMT

EUR/USD - 1.0616
Euro's rally above last Friday's 1.0592 high to as high as 1.0631 in post-FOMC trading yesterday on broad-based profit taking in usd due to less hawkish comments from Fed's Powell suggests recent erratic decline has made a temporary low at last Thursday's 5-year 1.3472 bottom and stronger retracement to 1.0580/85 would be seen, however, overbought condition should cap price below 1.0704 and yield retreat later.

On the downside, only a daily close below 1.0578 would indicate aforesaid recovery over and yield weakness to 1.0507/12, break, 1.0490/95.

Data to be released on Thursday:
Japan Market Holiday, Australia building permits, trade balance, imports, exports, China Caixin Services PMI.
Germany industrial orders, Swiss CPI, France industrial output, U.K. Markit Services PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchase, BOE MPC vote cut, BOE MPC vote unchanged, BOE MPC vote hike.
U.S. initial jobless claims, continuing jobless claims, labor costs and productivity.

 

[AceTRaderForex]

AceTraderFx May 05: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 May 2022 09:30GMT

USD/JPY - 129.76
Euro's intra-day strong rebound after yesterdays sharp fall from 130.37 to as low as 128.64 in post-FOMC New York on broad-based profit taking in usd after less hawkish comments from Fed's Powell suggests early pullback from April's 20-year peak at 131.24 has possibly ended and stronger gain towards 130.47 would be seen but above needed for 130.75/85 later.

On the downside, only a daily close below 129.00 would indicate aforesaid recovery over and risk re-test of 128.64, break, 128.20/25.

Data to be released on Thursday:
Germany industrial orders, Swiss CPI, France industrial output, U.K. Markit Services PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchase, BOE MPC vote cut, BOE MPC vote unchanged, BOE MPC vote hike.
U.S. initial jobless claims, continuing jobless claims, labor costs and productivity.

 

[AceTRaderForex]

AceTraderFx May 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 May 2022 03:00GMT

EUR/USD - 1.0542
Despite euro's rally to a 8-day high in Asia Thursday, subsequent selloff to as low as 1.0493 in New York on renewed broad-based rally in usd suggests recovery from last Thursday's 5-year bottom at 1.0472 has possibly ended and below 1.0472 would extend recent downtrend to 1.0405/10.

On the upside, only a daily close above 1.0578/83 would prolongs choppy swings and risks stronger retracement to 1.0603, break, 1.0630/40

Data to be released on Friday:
Australia AIG services index, Japan Tokyo CPI.
Swiss unemployment rate, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, France non-farm payrolls, Italy retail sales.
U.S. Non-farm payrolls, private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.

 

[AceTRaderForex]

AceTraderFx May 06: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 May 2022 09:30GMT

USD/JPY - 130.42
Dollar's rally from 138.64 (Wed) to 130.55 Thur and intra-day break there on renewed broad-based usd's strength suggests early pullback from April's 20-year peak at 131.24 has ended and consolidation with upside bias remains, above 130.80 (Asia) would yield re-test of said resistance later.

On the downside, only a daily close below 129.99 would risk weakness to 129.55/65 but 129.30/40 should hold and yield rebound.

Data to be released on Friday:
Australia AIG services index, Japan Tokyo CPI.
Swiss unemployment rate, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, France non-farm payrolls, Italy retail sales.
U.S. Non-farm payrolls, private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.

 

[AceTRaderForex]

AceTraderFx May 10: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 10 May 2022 03:00GMT

EUR/USD - 1.0562
Although euro's retreat from last Thursday's 8-day high of 1.0641 suggests recovery from April's fresh 5-year bottom at 1.0472 has possibly ended, Friday's rebound from 1.0483 to 1.0600 in New York and yesterday's fall to 1.0496 at European open suggest further volatile swings above said support would continue before prospect of another fall, below 1.0483 would head towards 1.0472, then 1.0405/10.

On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.

Data to be released on Tuesday:
New Zealand retail sales, NAB business conditions, NAB business confidence.
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.

 

[AceTRaderForex]

AceTraderFx May 10: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 May 2022 09:30GMT

USD/JPY - 130.15
Despite dollar's brief break of April's 131.24 top to a fresh 20-year peak at 131.34 in Europe Mon, subsequent retreat to 130.13 in tandem with US stocks and US yields in New York, with intra-day break there suggests recent erratic upmove has made a temporary top there and choppy trading is in store but above 130.55/57 needed to yield further gain to 130.80/90.

On the downside, only a daily close below 129.81 would risk stronger retracement towards 129.55 but 129.33 should hold.

Data to be released on Tuesday:
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.

 

[AceTRaderForex]

AceTraderFx May 11: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 11 May 2022 03:00GMT

EUR/USD - 1.0532
Although euro's retreat from last Thursday's 8-day high of 1.0641 suggests recovery from April's fresh 5-year bottom at 1.0472 has possibly ended, subsequent daily volatile swings and yesterday's retreat from 1.0585 in Europe signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.

On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.

Data to be released on Wednesday:
Australia Westpac consumer sentiment, China PPI, CPI, Japan coincident index, leading indicato,
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.

 

[AceTRaderForex]

AceTraderFx May 11: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 May 2022 09:30GMT

USD/JPY - 130.01
Despite dollar's brief break of April's 131.24 high to a fresh 20-year peak on Monday, subsequent selloff to 130.13, then to 129.81 in Asia yesterday suggests recent upmove has made a temporary top there and consolidation is in store before prospect of another rebound but above 130.54/57 is needed to head back to 130.80/90.

On the downside, only a daily close below 129.50/60 would risk stronger retracement of said rise towards 129.33, break, 129.10.

Data to be released on Wednesday:
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.

 

[AceTRaderForex]

AceTraderFx May 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 12 May 2022 03:00GMT

EUR/USD - 1.0523
Although euro's retreat from last Thursday's 8-day high of 1.0641 suggests recovery from April's fresh 5-year bottom at 1.0472 has possibly ended and despite yesterday's wild swings in post-US CPI, subsequent retreat from 1.0576 on broad-based rebound in usd signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.

On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.

Data to be released on Thursday:
New Zealand food price index, inflation forecast, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, Australia consumer inflation, Swiss producer/import price.
U.K. RICS housing price balance, GDP, trade balance, construction output, manufacturing output, industrial output, NIESR GDP estimate.
U.S. initial jobless claims, continuing jobless claims and PPI.

 

[AceTRaderForex]

AceTraderFx May 12: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 12 May 2022 09:30GMT

USD/JPY - 128.57
Dollar's intra-day firm break of Wed's bottom at 129.46 in Europe due to safe haven buying on global weakness suggests erratic fall from Mon's fresh 20-year peak at 131.34 remains in force and further weakness to 128.10/20 would be seen, reckon 127.50 should contain downside and yield rebound due to over-sold condition.

On the upside, only a daily close above 129.46 would indicate aforesaid pullback over and yield stronger gain to 130.05/06.

Data to be released on Thursday:
New Zealand food price index, inflation forecast, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, Australia consumer inflation, Swiss producer/import price.
U.K. RICS housing price balance, GDP, trade balance, construction output, manufacturing output, industrial output, NIESR GDP estimate.
U.S. initial jobless claims, continuing jobless claims and PPI.

 

[AceTRaderForex]

AceTraderFx May 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 13 May 2022 03:00GMT

EUR/USD - 1.0379
Euro's selloff below Apr's 1.0472 low to a fresh 5-year bottom at 1.0355 in New York yesterday on broad-based usd's strength due to risk-off trading suggests re-test of 2017 trough at 1.0341 would be seen, break would extend further weakness towards 1.0210 later next week.

On the upside, only a daily close above 1.0472 would indicate a temporary low is in place and risk stronger retracement to 1.0500/05.

Data to be released on Friday:
New Zealand manufacturing PMI.
France CPI, EU industrial production.
U.S. import prices, export prices and University of Michigan sentiment.

 

[AceTRaderForex]

AceTraderFx May 13: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 May 2022 09:30GMT

USD/JPY - 128.83
Dollar's intra-day cross-inspired rally to 129.36 in Asia suggests 1st leg of correction from Mon's fresh 20-year peak at 131.34 has possibly ended and as 128.50 has contained retreat in European morning, bullishness remains for 129.36 after consolidation, break would yield further gain towards 139.88.

On the downside, only a daily close below 128.03 would indicate aforesaid recovery over and risk weakness towards 127.53.

Data to be released on Friday:
France CPI, EU industrial production.
U.S. import prices, export prices and University of Michigan sentiment.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 May 2022 03:00GMT

EUR/USD - 1.0402
Although euro's selloff below 1.0472 (Apr) to 1.0355 last Thursday and then break there to a fresh 5-year bottom at 1.0350 in New York Friday on continued usd's strength signals recent decline would extend marginally, subsequent rebound suggests consolidation is in store and below said support would yield re-test of 2017 trough at 1.0341, break, 1.0309 later.

On the upside, only a daily close above 1.0443 would indicate a temporary low is in place and risk stronger retracement towards 1.0472 before down.

Data to be released later:
New Zealand business NZ PSI, China industrial order, retail sales, Japan machine tool orders.
Germany wholesales price index, EU trade balance.
Canada housing starts, manufacturing sales, wholesale trade, U.S. manufacturing on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 May 2022 09:30GMT

USD/JPY - 129.31
Despite dollar's erratic fall from last Monday's fresh 20-year peak at 131.34 in tandem with U.S. yields to as low as 127.53 Thursday, subsequent strong rise to 129.45 Friday, then intra-day break there to 129.63 at Tokyo open today suggests pullback over but above 129.63 needed to yield stronger gain towards 129.88 after consolidation but 130.05/10 should hold.

On the downside, only a daily close below 128.71 would signal aforesaid recovery over and yield weakness towards 128.36.

Data to be released later:
Germany wholesales price index, EU trade balance.
Canada housing starts, manufacturing sales, wholesale trade, U.S. manufacturing on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 May 2022 03:00GMT

EUR/USD - 1.0444
Euro's strong rebound from last Friday's fresh 5-year bottom at 1.0350 to as high as 1.0442 in New York Monday on broad-based retreat in usd in tandem with U.S. yields suggests recent erratic decline has made a temp. low there and as long as 1.0390/91 holds, stronger retracement towards 1.0472 may be seen but reckon 1.0503 should cap upside and yield decline.

On the downside, only a daily close below 1.0390 would indicate aforesaid recovery over and heads towards 2017 1.0341 trough later this week.

Data to be released on Tuesday:
Japan tertiary industry activity.
France ILO unemployment rate, U,K. Claimant count, ILO unemployment rate, employment change, average weekly earnings, Italy trade balance, CPI, EU employment, GDP.
U.S. retail sales, redbook, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index and New Zealand GDT price index.

 

[AceTRaderForex]

AceTraderFx May 17: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 May 2022 09:30GMT

USD/JPY - 129.41
Despite dollar's erratic fall from last Monday's fresh 20-year peak at 131.34 in tandem with U.S. yields to as low as 127.53 Thursday, subsequent strong rise to 129.45 Friday, then Mon's break there to 129.63 suggests 1st leg of correction over but above needed to yield stronger gain towards 129.88 after consolidation, reckon 130.05/10 should hold and yield retreat.

On the downside, only a daily close below 128.71 would signal aforesaid recovery over and yield weakness towards 128.36.

Data to be released on Tuesday:
France ILO unemployment rate, U,K. Claimant count, ILO unemployment rate, employment change, average weekly earnings, Italy trade balance, CPI, EU employment, GDP.
U.S. retail sales, redbook, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index and New Zealand GDT price index.

 

[AceTRaderForex]

AceTraderFx May 18: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 18 May 2022 03:00GMT

EUR/USD - 1.0557
Euro's rally above 1.0472 (Apr) to as high as 1.0555 in New York Tue on ECB Knot's hawkish comments and intra-day break there on continued broad-based retreat in usd suggests corrective upmove from last Fri's fresh 5-year bottom at 1.0350 would head towards 1.0585, however, loss of momentum would cap price at 1.0600/10 and yield retreat later this week.

On the downside, only a daily close below 1.0472 would signal a temporary top made and risk weakness towards 1.0442, break, 1.0419/20.

Data to be released on Wednesday:
New Zealand PPI, Japan GDP, industrial production, capacity utilization, Australia Westpac leading index, wage price index, China house price.
U.K. CPI, RPI, PPI input prices, PPI output prices, PPI core output prices, DCLG house price, EU HICP.
U.S. MBA mortgage application, building permits, housing starts and Canada CPI.

 

[AceTRaderForex]

AceTraderFx May 18: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 18 May 2022 09:30GMT

USD/JPY - 129.17
Despite dollar's erratic fall from last Monday's fresh 20-year peak at 131.34 in tandem with U.S. yields to as low as 127.53 Thursday, subsequent strong rise to 129.45 Friday, then Monday's break there to 129.63 suggests 1st leg of correction over but above needed to yield stronger gain towards 129.88 after consolidation, reckon 130.05/10 should hold and yield retreat.

On the downside, only a daily close below 128.71 would signal aforesaid recovery over and yield weakness towards 128.36.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, PPI core output prices, DCLG house price, EU HICP.
U.S. MBA mortgage application, building permits, housing starts and Canada CPI.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0479
Euro's selloff from 1.0563 to 1.0461 in New York yesterday on renewed safe-haven usd's buying due to fall in U.S. yields and U.S. stocks suggests recent corrective upmove from last Friday's fresh 5-year bottom at 1.0350 has ended there and below 1.0438/42 would yield further weakness to 1.0390/00 later.

On the upside, only a daily close above 1.0495/00 may risk stronger recovery to 1.0530/40.

Data to be released on Thursday:
Japan machinery orders, exports, imports, trade balance, Australia employment change, unemployment rate.
EU current account, construction orders.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, existing home sales, leading index, Canada new housing price index and producer prices.

 

[AceTRaderForex]

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

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

USD/JPY - 127.97
Dollar's selloff from 129.77 (Tuesday) to 128.02 in New York on Wednesday on safe-haven yen buying and fall in US yields due to US stock market rout suggests recovery from last Thursday's 2-week bottom at 127.53 has ended and despite intra-day strong rebound to 128.94 in Asia, present sharp retreat in European morning has retained bearishness and below 127.53 would extend decline from May's 20-year peak at 131.34 towards 126.96 later.

On the upside, only a daily close above 128.94 would prolong choppy swings and risk stronger retracement towards 129.34.

Data to be released on Thursday:
EU current account, construction orders.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, existing home sales, leading index, Canada new housing price index and producer prices.