AceTraderFx : Daily Recommendations on Major

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
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74
Hong Kong
www.acetraderfx.com
AceTraderFx July 05: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 05 July 2022 03:00GMT

EUR/USD - 1.0432
Despite euro's selloff to a 2-week bottom at 1.0367 in New York Friday, subsequent strong short-covering rise to 1.0462 in Europe yesterday suggests choppy trading above May's 5-year trough at 1.0350 would continue and range trading is seen before prospect of another fall but below 1.0350/60 needed to extend to 1.0320/30.

On the upside, only a daily close above 1.0462 would risk stronger retracement towards 1.0488, break, 1.0505/10.

Data to be released on Tuesday :
New Zealand business confidence, Australia AIG construction index, services PMI, RBA interest rate decision, Japan Jibun Bank manufacturing PMI, China Caixin manufacturing PMI,
France industrial output, SnP global services PMI, Italy SnP global services PMI, Germany SnP global services PMI, EU SnP global services PMI, UK SnP global services PMI.
Canada building permits, US durables ex-defense, durable goods, factory orders and durables ex-transport.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 05: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 05 July 2022 09:30GMT

USD/JPY - 135.67
Dollar's selloff below 135.56 (Thur) to as low as 134.75 in tandem with US yields at European open last Fri suggests long term uptrend has made a temporary top at Wed'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 on Tuesday :
France industrial output, SnP global services PMI, Italy SnP global services PMI, Germany SnP global services PMI, EU SnP global services PMI, UK SnP global services PMI.
Canada building permits, US durables ex-defense, durable goods, factory orders and durables ex-transport.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 06: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 06 July 2022 03:00GMT

EUR/USD - 1.0265
Euro's selloff below May's 5-year low at 1.0350 to a near 20-year bottom at 1.0236 on broad-based rally in usd due to safe-haven buying on global stock market rout suggests price would head towards projected target at 1.0188 before prospect of correction due to oversold condition.

On the upside, only a daily close above 1.0350 would indicate a temporary bottom is in place and risk stronger retracement to 1.0380/90.

Data to be released on Wednesday:
Germany industrial orders, U.K. SnP construction PMI, labor productivity, EU retail sales.
U.S. mortgage application, redbook, SnP global services PMI, ISM non-manufacturing PMI, JOLTS job opening.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 06: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 06 July 2022 09:30GMT

USD/JPY - 135.26
Dollar's early selloff from last Wed's fresh 24-year peak at 136.99 in tandem with U.S. yields to 134.75 (Fri) signals a temporary top has been made, despite staging a strong rise to as high as 136.36 yesterday on broad-based safe-haven buying in usd, intra-day firm break of 135.53 would yield re-test of 134.75, below, 134.53, 134.27.

On the upside, only a daily close above 135.89 would prolong choppy swings and risk another rise to 136.26/36 later.

Data to be released on Wednesday:
Germany industrial orders, U.K. SnP construction PMI, labor productivity, EU retail sales.
U.S. mortgage application, redbook, SnP global services PMI, ISM non-manufacturing PMI, JOLTS job opening.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 07: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 07 July 2022 03:00GMT

EUR/USD - 1.0178
Euro's selloff to 1.0236 Tue and yesterday's break there to a fresh near-20 year bottom at 1.0163 in New York Wed on continued rally in usd suggests recent decline would extend to 1.0120/30 before prospect of a minor retracement due to near term loss of momentum.

On the upside, only a daily close above 1.0236 would indicate a temporary bottom is made and risk stronger retracement towards 1.0276 before down.

Data to be released on Thursday:
Australia AIG services index, trade balance, imports, exports, Japan coincident index, leading indicators, machine tools orders.
Swiss unemployment rate, U.K. Halifax house price, Germany industrial output.
U.S. ADP employment rate, international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada trade balance, exports, imports and Ivey PMI.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 07: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 07 July 2022 09:30GMT

USD/JPY - 136.09
Despite dollar's sharp fall from last Wed's fresh 24-year peak at 136.99 to as low as 134.75 Fri in tandem with US yields, subsequent strong rebound to 136.36 Tue and yesterday's bounce to 136.00 suggests consolidation with upside bias remains and above 136.36 would yield re-test of said res, break, 136.70/80 later.

On the downside, only a daily close below 135.26 would prolong choppy swings and risk weakness towards 134.96, 134.75.

Data to be released on Thursday:
Swiss unemployment rate, U.K. Halifax house price, Germany industrial output.
U.S. ADP employment rate, international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada trade balance, exports, imports and Ivey PMI.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 08: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 07 July 2022 03:00GMT

EUR/USD - 1.0169
Euro's selloff below May's 5-year low of 1.0350 to 1.0163 Wed and yesterday's break there to a fresh 20-year bottom of 1.0145 in New York on continued safe-haven usd buying suggests price would head to 1.0100/05, loss of momentum may keep price above projected 1.0075/80 support today.

On the upside, only a daily close above 1.0236 confirms a temporary low is in place and risks stronger retracement to 1.0271/76.

Data to be released on Friday:
Japan all household spending, current account, trade balance, eco watchers current, eco watchers outlook.
France current account, trade balance, imports, exports, Italy industrial output.
US non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, wholesale inventories, wholesale sales, Canada employment change and unemployment rate.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 08: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 08 July 2022 09:30GMT

USD/JPY - 135.77
Although dollar's sharp decline from last Wed's fresh 24-year peak at 136.99 in tandem with US yields to 134.75 last Friday suggests long term uptrend has made a temporary top there, subsequent bounce to 136.36 Tue signals pullback possibly over and above 136.36 would yield stronger gain to 136.70/80.

On the downside, only a daily close below 134.96 would bring weakness towards 134.75 but 134.27 should contain downside.

Data to be released on Friday:
US non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, wholesale inventories, wholesale sales, Canada employment change and unemployment rate.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 11: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 11 July 2022 03:00GMT

EUR/USD - 1.0159
Despite euro's selloff below 1.0145 (Thursday) to a fresh 20-year bottom at 1.0073 in Europe Friday, subsequent strong rise to 1.0189 following robust U.S. NFP in New York suggests recent erratic decline has made a temporary trough there and may head back towards 1.0221 before retreat.

On the downside, a daily close below 1.0100 would indicate said recovery has ended and yield weakness towards 1.0073, break, 1.0045/50.

Data to be released later:
New Zealand retail sales, Japan Machinery orders, machine tool orders.
Italy retail sales.
Canada leading index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 11: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 11 July 2022 09:30GMT

USD/JPY - 136.84
Dollar's intra-day rally above Jun's fresh 24-year high at 136.99 in Asia on dovish comments from BOJ's Kuroda suggests long term has once again resumed and further gain towards 137.50 would be seen after consolidation but 137.90/00 should cap upside.

On the downside, only a daily close below 136.56 would indicate a temporary top is in place and risk stronger retracement to 135.88/98.

Data to be released later:
Italy retail sales.
Canada leading index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 12: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 12 July 2022 03:00GMT

EUR/USD - 1.0053
Despite euro's short-covering rebound from 1.0073 in post-NFP Fri, yesterday's selloff below there to a fresh 24-year bottom at 1.0035 in New York on broad-based safe-haven buying in usd suggests price would head to 'parity' handle, break would yield further weakness towards 0.9949 later.

On the upside, only a daily close above 1.0092 would indicate a temporary low is in place and risk stronger retracement towards 1.0117, break may head to 1.0148/51.

Data to be released on Tuesday:
U.K. BRC retail sales, Japan producer prices, New Zealand NAB business conditions, NAB business confidence, Germany ZEW economic confidence, ZEW current conditions, EU ZEW survey expectation and US redbook.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 12: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 12 July 2022 09:30GMT

USD/JPY - 137.22
Dollar's rally above previous 136.99 daily resistance to a fresh 24-year peak at 137.75 in New York Monday on broad-based safe-haven usd buying suggests long term uptrend has once again resumed and further gain to 138.15 would be seen but reckon 138.45/55 should remain intact and yield correction later.

On the downside, only a daily close below 136.99 would indicate a temporary top is in place and risk stronger retracement towards 136.56.

Data to be released on Tuesday:
U.K. BRC retail sales, Japan producer prices, New Zealand NAB business conditions, NAB business confidence, Germany ZEW economic confidence, ZEW current conditions, EU ZEW survey expectation and US redbook.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 13: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 13 July 2022 03:00GMT

EUR/USD - 1.1879
Although euro's rebound after yesterday's selloff to a fresh 20-year bottom of 1.000 in Europe on continued usd's strength suggests recent erratic decline has made a temporary bottom, as 1.0073 has capped subsequent recovery, bearishness is retained for weakness to 0.9970/75 but loss of momentum should keep price above projected support at 0.9949.

On the upside, only a daily close above 1.0073 would risk stronger retracement to 1.0117/22.

Data to be released on Wednesday:
New Zealand food price, RBNZ interest rate decision, Australia consumer sentiment, China exports, imports, trade balance.
U.K. GDP, trade balance, industrial output, manufacturing output, construction output, Germany CPI, HICP, France CPI, EU industrial production.
U.S. MBA mortgage application, CPI, Federal budget and Canada BOC interest rate decision.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 13: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 13 July 2022 09:30GMT

USD/JPY - 137.09
Dollar's selloff from 137.52 to as low as 136.49 in New York yesterday on broad-based retreat in usd suggests recent erratic upmove has made a temporary top at Mon's fresh 24-year peak at 137.75 and intra-day rebound would yield further range trading , above 137.52 needed for stronger gain towards 137.75.

On the downside, only a daily close below 136.70 would risk stronger retracement towards 136.49, break, 136.25.

Data to be released on Wednesday:
U.K. GDP, trade balance, industrial output, manufacturing output, construction output, Germany CPI, HICP, France CPI, EU industrial production.
U.S. MBA mortgage application, CPI, Federal budget and Canada BOC interest rate decision.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 14: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 14 July 2022 03:00GMT

EUR/USD - 1.0029
Despite euro's rally on short covering from Wed's fresh 20-year trough of 0.9999 after release of red hot US CPI and jump in US yields to 1.0122 in New York, subsequent retreat suggests correction possibly over and below 1.0020/24 would pressure price towards 0.9949.

On the upside, only a daily close above 1.0100 may risk re-test of 1.0122, break would yield stronger retracement to 1.0151/56 before retreat.

Data to be released on Thursday:
U.K. RICS housing price balance, Australia employment change, unemployment rate, Japan industrial output, capacity utilization, Swiss producer/import prices, France Market Holiday.
U.S. initial jobless claims, continuing jobless claims, PPI and Canada manufacturing sales.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 14: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 14 July 2022 09:30GMT

USD/JPY - 139.25
Dollar's rally above 137.75 resistance to a fresh 24-year high at 137.86 Wed on release of red hot US CPI and then intra-day firm break there on active selling in yen suggests upside bias remains for further gain to 138.90/00, however, overbought condition should cap price below 139.19 and yield a much-needed correction later.

On the downside, only a daily close below 137.75 would indicate a temporary top is in place and risk stronger retracement towards 137.44.

Data to be released on Thursday:
U.K. RICS housing price balance, Australia employment change, unemployment rate, Japan industrial output, capacity utilization, Swiss producer/import prices, France Market Holiday.
U.S. initial jobless claims, continuing jobless claims, PPI and Canada manufacturing sales.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 15: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 15 July 2022 03:00GMT

EUR/USD - 1.0019
Despite euro's firm break of parity handle at New York open Thursday and then weakness to a fresh 20-year bottom of 0.9953, subsequent rally to 1.0048 on less hawkish comments by Fed's Waller would yield choppy swings before one more fall but 0.9900/10 should hold from here.

On the upside, only a daily close above 1.0073 may signal temporary low is made and risk stronger retracement towards 1.0122.

Data to be released on Friday:
New Zealand business NZ PSI, China house prices, industrial output, retail sales, GDP, Japan tertiary industrial activities.
Germany wholesale price index, Italy CPI, EI trade balance.
US NY Fed manufacturing, import prices, export prices, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, University of Michigan sentiment and Canada wholesale sales.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 15: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 15 July 2022 09:30GMT

USD/JPY - 138.79
Despite dollar's impressive rally above Wed's 137.86 high to a fresh 24-year peak of 139.39 in Europe Thur, subsequent retreat to 138.61 and intra-day brief break there would bring stronger retracement to 138.25/30 before rebound but above 139.39 needed to head towards 139.75.

On the downside, only a daily close below 138.00 would risk further weakness towards 137.75, break would head to 137.50/52

Data to be released on Friday:
Germany wholesale price index, Italy CPI, EI trade balance.
US NY Fed manufacturing, import prices, export prices, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, University of Michigan sentiment and Canada wholesale sales.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 18: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 18 July 2022 03:00GMT

EUR/USD - 1.0096
Euro's rally above 1.0048/52 resistance to 1.0097 in New York Friday on broad-based retreat in usd suggests recent erratic decline has made a temporary bottom there, however, reckon 1.0122 would cap present rise and yield another decline, below 1.0048/50 would head to 1.0007/10 but below needed to extend towards 0.9985 later.

On the upside, only a daily close above 1.0140 would risk stronger retracement towards 1.0190.

Data to be released today:
New Zealand business NZ PSI, CPI, Japan Market Holiday.
Italy trade balance, Canada housing starts.
U.S. NAHB housing market index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 18: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 18 July 2022 09:30GMT

USD/JPY - 137.97
Although dollar's erratic fall from Thursday's fresh 24-year peak at 139.39 to 139.40 in New York Friday on profit taking suggests long term upmove has made a temporary top there, reckon 137.86 (Wednesday) should hold and yield another rebound due to near term oversold condition but 139.12 (Friday top) may cap upside today.

On the downside, only a daily close below 137.60/70 would dampen bullishness and risk stronger retracement to 137.25/30.

Data to be released today:
Italy trade balance, Canada housing starts.
U.S. NAHB housing market index on Monday.