AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

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

EUR/USD - 1.0493
Euro's strong retreat from 1.3601 to as low as 1.3445 in New York morning Fri on renewed usd's strength signals recovery from last Wed's 1-month bottom at 1.0360 has possibly ended there and subsequent rebound would yield range trading, below 1.0445 would bring further weakness to 1.0400/10 but break needed for re-test of 1.0360.

On the upside, only a daily close above 1.0535 would indicate aforesaid pullback over and risk stronger gain towards 1.0560, 1.0601.

Data to be released today:
New Zealand business NZ PSI
Germany producer prices, EU construction output.
U.S. Market Holiday on Monday.

 

[AceTRaderForex]

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

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

USD/JPY - 134.67
Despite dollar's rally from 132.7 to as high as 134.63 Fri on BOJ's unchanged rate decision and then rallied to 135.42 in New York on renewed usd's strength, intra-day retreat from 135.44 in Asia suggests minor consolidation is seen before re-test of last Wed's fresh 24-year peak at 135.59, break would extend towards projected target at 136.11 before retracement later.

On the downside, only a daily close below 134.28 would prolong choppy trading and risk weakness to 133.80/90.

Data to be released today:
Germany producer prices, EU construction output.
U.S. Market Holiday on Monday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0514
Although euro's strong rise to as high as 1.0601 last Thur suggests decline from 1.0786 (May) has made a temporary low at 1.3060 in post-FOMC Wed and choppy trading above May's 5-year bottom at 1.0350 would continue, Fri's selloff to 1.0445, then yesterday's retreat from 1.0545 in Europe signals consolidation with downside bias remains for 1.0400/10 later.

On the upside, only a daily close above 1.0560 may risk gain towards 1.0601, break would yield stronger retracement towards 1.0642 later.

Data to be released on Tuesday :
New Zealand Westpac consumer survey, GDT price index.
U.K. Rightmove house price, CBI trends orders, Swiss exports, imports, trade balance, EU current account.
Canada new housing price index, retail sales, U.S. national activity index and existing home sales.

 

[AceTRaderForex]

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

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

USD/JPY - 135.27
Dollar's rally from 132.17 to as high as 135.42 Friday on BOJ's unchanged rate decision, then to 135.44 Monday suggests upmove from 131.50 (Wednesday) would yield re-test of June's fresh 24-year peak at 135.59, break would extend towards projected target at 136.11 later before retracement occurs.

On the downside, only a daily close below 134.55 (Monday low) would risk weakness to 134.23/28 before prospect of rebound.

Data to be released on Tuesday :
U.K. Rightmove house price, CBI trends orders, Swiss exports, imports, trade balance, EU current account.
Canada new housing price index, retail sales, U.S. national activity index and existing home sales.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0521
Although euro's strong rise to as high as 1.0601 last Thursday suggests decline from 1.0786 (May) has made a temporary low at 1.3060 in post-FOMC Wednesday and choppy trading above May's 5-year bottom at 1.0350 would continue, Frdayi's selloff to 1.0445, then yesterday's retreat from 1.0582 in Europe signals consolidation with downside bias remains and below 1.0499 would head to 1.0445/55.

On the upside, only a daily close above 1.0582 may risk gain towards 1.0601, break would yield stronger retracement towards 1.0642 later.

Data to be released on Wednesday:
New Zealand Westpac consumer survey, imports, exports, trade balance, Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

 

[AceTRaderForex]

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

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

USD/JPY - 136.21
Despite dollar's 1-week long wild swings from previous Jun's peak at 135.59, yesterday's rally above there to a fresh 24-year top at 136.70 in New York on continued selling in yen suggests long term uptrend would head to 137.10/20, reckon projected target at 137.41 should hold and yield a much-needed correction due to loss of momentum.

On the downside, only a daily close below 135.59 would indicate a temporary top is in place and risk stronger retracement towards 135.20, break, 134.93

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

 

[AceTRaderForex]

AceTraderFx Jun 23: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 23 Jun 2022 03:00GMT

EUR/USD - 1.0567
Although euro's strong rise to as high as 1.0601 last ThurSDAY and yesterday's rally above there to 1.0605 in New York on selloff in usd after Fed Powell's less hawkish comments suggests further choppy trading above May's 5-year bottom at 1.0350 would continue with mild upside bias and gain towards 1.0642 may be seen later.

On the downside, only daily close below 1.0511 (New York low) signals a temporary top is made and head back towards 1.0470.

Data to be released on Wednesday:
New Zealand Westpac consumer survey, imports, exports, trade balance, Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Jun 2022 09:30GMT

USD/JPY - 135.57
Dollar's intra-day selloff below 135.70 (Wednesday) on active buying in yen suggests long term uptrend has made a temporary top at yesterday's fresh 24-year peak at 136.71 and as 135.87 has capped recovery in Europe, consolidation with downside bias remains and below 135.14 would yield stronger retracement towards 134.93, break, 134.75/80.

On the upside, only above 135.87 would signal pullback possibly over and yield stronger gain towards 136.30 but 136.71 should remain intact.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jun 2022 03:00GMT

EUR/USD - 1.0523
Although euro's strong rise to as high as 1.0601 last Thursday and Wednesday's rally above there to 1.0605 in New York on selloff in usd after Fed Powell's less hawkish comments suggests further choppy trading above May's 5-year bottom at 1.0350 would continue, yesterday's fall to 1.0484 in New York has retained bearishness and below 1.0470 would head towards 1.0445.

On the upside, only a daily close above 1.0580 would prolong choppy swings and risk stronger gain to 1.0605.

Data to be released on Friday:
New Zealand Market Holiday.
U.K. Gfk consumer confidence, retail sales, Japan nationwide CPI, Italy business confidence, trade balance, consumer confidence, Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. building permits, University of Michigan sentiment, new home sales on Friday and Canada average weekly earnings.

 

[AceTRaderForex]

AceTraderFx Jun 24: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jun 2022 09:30GMT

USD/JPY - 134.77
Although dollar's selloff to as long as 134.27 in New York Thur on safe-haven yen buying suggests recent erratic upmove has made a temporary top at Wed's fresh 24-yaer peak at 136.71, intra-day rebound from 134.36 in Europe signals consolidation with upside bias remains and above 135.22 (Asia) would yield stronger gain towards 135.87 later.

On the downside, only a daily close below 134.27 would risk one more fall towards 133.93.

Data to be released on Friday:
U.K. Gfk consumer confidence, retail sales, Japan nationwide CPI, Italy business confidence, trade balance, consumer confidence, Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. building permits, University of Michigan sentiment, new home sales on Friday and Canada average weekly earnings.

 

[AceTRaderForex]

AceTraderFx Jun 27: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2022 03:00GMT

EUR/USD - 1.0560
Although euro's rally from Jun's 1-month bottom at 1.0360 to as high as 1.0605 last Wednesday suggests further choppy trading above May's 5-year trough at 1.0350 would continue, Friday's decline to 1.0484 signals consolidation with downside bias remains and below 1.0470 would yield weakness towards 1.0445.

On the upside, only above above 1.0580 would prolong choppy sideways swings and risks re-test of 1.0605, break, 1.0630 later.

Data to be released today:
Japan coincident index, leading indicator.
U.S. durables goods, durables ex-transport, durables ex-defense, pending home sales and Dallas Fed manufacturing business on Monday.

 

[AceTRaderForex]

AceTraderFx Jun 27: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2022 09:30GMT

USD/JPY - 135.05
Although dollar's selloff to as low as 134.27 in New York Thursday on safe-haven yen buying suggests recent erratic upmove has made a temporary top at Wednesday's fresh 24-year peak at 136.71, Fri's rebound from 134.36 to 135.39 in New York and subsequent retreat would yield further choppy swings, below 134.27 would head to 133.88/93.

On the downside, only a daily close below 135.39 would suggest 1st leg of correction over and yield stronger gain towards 135.87.

Data to be released today:
U.S. durables goods, durables ex-transport, durables ex-defense, pending home sales and Dallas Fed manufacturing business on Monday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0581
Euro's rally from June's 1-month bottom at 1.0360 to as high as 1.0605 last Wednesday, then to a 2-week high at 1.0614 in New York on broad-based usd's retreat suggests further choppy trading above May's 5-year trough at 1.0350 would continue, as long as 1.0555 holds, marginal gain would be seen and above 1.0614 would head to 1.0640/45 but 1.0661 should hold.

On the downside, only below 1.0515 would signal said recovery over and weakness towards 1.0484, then 1.0470 would be seen.

Data to be released on Tuesday:
Germany Gfk consumer sentiment, France consumer confidence, Italy industrial sales.
U.S. goods trade balance, wholesale inventories, redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

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

USD/JPY - 135.70
Although dollar's selloff from last Wed's fresh 24-year peak at 136.71 to 134.27 Thursday on safe-haven yen buying suggests recent erratic upmove has made a temporary top there, subsequent strong rebound to 135.54 in New York Mon and intra-day break there suggests aforesaid pullback has possibly ended and consolidation with upside bias remains for 136.30, break, 136.71.

On the downside, only a daily close below 135.02 would dampen bullishness and risk weakness to 134.53/58, 134.27.

Data to be released later:
Germany Gfk consumer sentiment, France consumer confidence, Italy industrial sales.
U.S. goods trade balance, wholesale inventories, redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.

 

[AceTRaderForex]

AceTraderFx Jun 29: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.0530
Despite euro's resumption of recent erratic rise from June's 1-month trough of 1.0360 to a 2-week high of 1.0614 Mon, yesterday's break of 1.0555 support to 1.0504 in New York on broad-based rebound in usd suggests a temporary top is made and stronger retracement towards 1.0445 is envisaged before prospect of recovery later.

On the upside, only a daily close above 1.0555 would prolong choppy sideways swings and risk gain to 1.0590/00.

Data to be released on Wednesday:
U.K. BRC shop price index, Japan retail sales, consumer confidence, Australia retail sales, Swiss investor sentiment, EU business sentiment, economic sentiment, industrial sentiment, services sentiment, consumer confidence,
U.S. mortgage application, GDP and PCE prices.

 

[AceTRaderForex]

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

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

USD/JPY - 136.15
Despite dollar's selloff from last Wednesday's fresh 24-year peak at 136.71 to as low as 134.27 Thur, subsequent strong rebound to 135.54 Monday and yesterday's break there to 136.38 in New York on renewed usd's strength suggests pullback has ended and re-test of said resistance would be seen, break would extend long term uptrend to 137.10/20.

On the downside, only a daily close below 135.80 would signal temporary top in place and risk weakness towards 135.54.

Data to be released on Wednesday:
U.K. BRC shop price index, Japan retail sales, consumer confidence, Australia retail sales, Swiss investor sentiment, EU business sentiment, economic sentiment, industrial sentiment, services sentiment, consumer confidence,
U.S. mortgage application, GDP and PCE prices

 

[AceTRaderForex]

AceTraderFx Jun 30: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 30 Jun 2022 03:00GMT

EUR/USD - 1.0442
Euro's intra-day selloff in Europe on ECB Lagarde's mildly dovish comments and then break of last week's 1.0470 low to 1.0436 in New York suggests corrective rise from June's 1-month trough at 1.0360 has ended and downside bias remains for further weakness, oversold condition should keep euro well above said June's low.

On the upside, only a daily close above 1.0470 prolongs choppy sideways swings and may risk stronger retracement of decline from last week's high at 1.0614 to 1.0500/04 but 1.0535 should cap upside ahead of Friday's key U.S. jobs data.

Data to be released on Thursday :
Japan industrial production, construction orders, housing starts, China NBS manufacturing PMI, NBS non-manufacturing PMI.
UK GDP, current account, nationwide house price, Germany import prices, retail sales, unemployment change, unemployment rate, CPI, Swiss retail sales, KOF indicator, France consumer spending, CPI, producer prices, Italy unemployment rate, producer prices, EU unemployment rate.
U.S. person income, personal spending, PCE price index, initial jobless claims, continuing jobless claims, Chicago PMI and Canada GDP.

 

[AceTRaderForex]

AceTraderFx Jun 30: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 136.23
Despite resumption of uptrend to a fresh 24-year peak of 136.99 in New York yesterday, subsequent retreat in tandem with U.S. yields and intra-day fall from 136.81 to as low as 135.97 suggests temporary top has been made and consolidation with downside bias is seen for a long-overdue retracement to 135.54/59 but reckon 135.12 would contain weakness.

Only above 136.81 signals pullback over and yields one more rise towards projected target at 137.20 before prospect of a correction.

Data to be released on Thursday :
UK GDP, current account, nationwide house price, Germany import prices, retail sales, unemployment change, unemployment rate, CPI, Swiss retail sales, KOF indicator, France consumer spending, CPI, producer prices, Italy unemployment rate, producer prices, EU unemployment rate.
U.S. person income, personal spending, PCE price index, initial jobless claims, continuing jobless claims, Chicago PMI and Canada GDP.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0440
Euro's intra-day short-covering rebound from Friday's 2-week bottom at 1.0367 in New York suggests recent erratic decline has made a temporary low and initial range trading would be seen before prospect of another fall, below June's 1.0360 trough would yield re-test of May's 5-year bottom at 1.0350, break, 1.0328 later.

On the upside, only a daily close above 1.0488 would prolong choppy trading above 1.0350 and risk stronger retracement to 1.0504, 1.0535.

Data to be released today:
Australia building permits.
Germany exports, imports, trade balance, Swiss CPI, EU Sentix index, producer prices.
US Market Holiday and Canada SnP manufacturing PMI on Monday.

 

[AceTRaderForex]

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

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

USD/JPY - 135.35
Euro's selloff below 135.56 (Thursday) to as low as 134.75 in tandem with US yields at European open last Friday suggests long term uptrend has made a temporary top at Wednesday's fresh 24-year peak at 136.99 and subsequent sideways swings would yield consolidation before prospect of another fall, below 134.75 would head towards 134.53 but 134.27 should hold.

On the upside, only a daily close above 135.66 would signal aforesaid pullback over and risk gain to 135.88/98.

Data to be released today:
Germany exports, imports, trade balance, Swiss CPI, EU Sentix index, producer prices.
US Market Holiday and Canada SnP manufacturing PMI on Monday.