AceTraderFx : Daily Recommendations on Major

AceTRaderForex

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

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 19 July 2022 03:00GMT

EUR/USD - 1.0139
Although euro's erratic rise from 1.0082 (Europe) Mon and then break of 1.0122 resistance to 1.0101 in New York on broad-based usd's weakness signals recent downtrend has made a temporary low at Thursday's 20-year trough at 0.9953, loss of momentum would limit gain to 1.0221, below 1.0097/00 signals correction over and heads back towards 1.0052.

On the upside, only a daily close above 1.0201 would revive bullishness for one more rise to 1.0220/25 later.

Data to be released on Tuesday:
U.K. Rightmove house price, claimant count, ILO unemployment rate, average weekly earnings, Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. building permits, housing starts, redbook and New Zealand GDT price.
 

AceTRaderForex

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

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 19 July 2022 09:30GMT

USD/JPY - 137.73
Dollar's decline from Thursday's fresh 24-year peak at 139.39 to as low as 137.90 in New York yesterday on broad-based usd's weakness due to return on risk sentiment and intra-day break there suggests long-overdue correction has taken place and further weakness to 137.50/55 cannot be ruled out before prospect of a strong rebound later.

On the upside, a daily close above 138.44 needed to revive bullishness for stronger gain to 138.80/90, break, 139.12, 139.39.

Data to be released on Tuesday:
U.K. Rightmove house price, claimant count, ILO unemployment rate, average weekly earnings, Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. building permits, housing starts, redbook and New Zealand GDT price.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
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74
Hong Kong
www.acetraderfx.com
AceTraderFx July 20: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 20 July 2022 03:00GMT

EUR/USD - 1.0239
Despite resumption of long term downtrend to a fresh 24-year bottom at 0.9853 last Thur, subsequent rise to 1.0201 Monday, then rally to 1.0268 Tuesday on Reuters report of a possible 0.5% ECB's rate hike signals long-overdue correction has taken place but loss of momentum should cap price at 1.0215 and yield another retreat later today or tomorrow.

On the downside, a daily close below 1.0201 would signal a temporary top is in place and yield weakness towards 1.0121.

Data to be released on Wednesday:
Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, Germany producer prices, EU current account, consumer confidence.
U.S. MBA mortgage application, existing home sales, Canada CPI and producer prices.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
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74
Hong Kong
www.acetraderfx.com
AceTraderFx July 20: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 20 July 2022 09:30GMT

USD/JPY - 138.18
Although dollar's strong retreat from last Thursday's fresh 24-year top of 139.39 in tandem with U.S. yields to as low as 137.39 yesterday suggests temporary top is made, subsequent bounce to 138.24 (New York) signals 1st leg of correction over and above 138.44 would yield stronger gain to 138.70/80 but 139.12 should hold.

On the downside, only a daily close below 137.70/75 would risk stronger retracement of recent upmove towards 137.39, 137.11.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, Germany producer prices, EU current account, consumer confidence.
U.S. MBA mortgage application, existing home sales, Canada CPI and producer prices.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 21: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 21 July 2022 03:00GMT

EUR/USD - 1.0188
Although euro's erratic fall from Wednesday's 2-week high of 1.0273 to as low as 1.0156 (New York) due to political turmoil in Italy and broad-based rebound in usd in tandem with U.S. yields suggests 1st leg of correction from July's 20-year bottom at 0.9953 has possibly ended, intra-day recovery would bring sideways swings ahead of expected ECB's 0.5% rate hike decision later today.

A firm break of 1.0156 would head back towards 1.0082 while above 1.0252 may bring re-test of 1.0273, however, loss of upward momentum should cap price at 1.0300.

Data to be released on Thursday :
New Zealand imports, exports, trade balance, Japan exports, imports, trade balance, BOJ interest rate decision, Australia NAB business confidence.
U.K. PSNB, PSNCR, France business climate, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada new housing price index and U.S. leading index.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
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74
Hong Kong
www.acetraderfx.com
AceTraderFx July 21: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 21 July 2022 09:30GMT

USD/JPY - 138.60
Despite the greenback's resumption of decline from July's fresh 24-year peak at 139.39 to 137.39 on Tuesday, intra-day strong bounce from 138.00 in Asia as Bank of Japan maintained its easy policy signals a temporary low has possibly been made there and consolidation with upside bias remains for stronger retracement towards 138.80/90, reckon 139.12 may remain intact.

On the downside, only below 137.90/91 would indicate aforesaid recovery has ended instead and risk stronger weakness to 137.50/60.

Data to be released on Thursday :
U.K. PSNB, PSNCR, France business climate, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada new housing price index and U.S. leading index.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 22: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 22 July 2022 03:00GMT

EUR/USD - 1.0212
Despite euro's jump n then a marginal break of Wednesday's 1.0173 top to a 2-week peak at 1.0278 on ECB's 0.5% rate hike, subsequent brief but sharp drop to 1.0155 and then rebound on usd's weakness due to selloff in U.S. yields in late New York would yield further choppy swings and above 1.0237/40 would re-test 1.0278, break, 1.0315/20.

On the downside, a daily close below 1.0155 needed to revive bearishness for weakness towards 1.0121, then 1.0082.

Data to be released on Friday:
Australia S n P manufacturing PMI, S n P global services PMI.
U.K. Gfk consumer confidence, retail sales, Japan nationwide CPI, Jibun bank manufacturing PMI, Jibun bank services PMI, France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, U.K. S n P manufacturing PMI, S n P global services PMI.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
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74
Hong Kong
www.acetraderfx.com
AceTraderFx July 22: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 22 July 2022 09:30GMT

USD/JPY - 137.62
Despite dollar's selloff from 138.87 and break of 137.39 support to as low as 137.31 in New York Thursday in tandem with US yields, then intra-day break there to 137.03 in Asia, intra-day rally suggests fall from July's fresh 24-year peak at 139.39 has made a low and above 138.00 would yield stronger gain to 138.35/39, 138.87.

On the downside, only a daily close below 137.03 would revive bearishness for one more fall to 136.70/75.

Data to be released on Friday:
U.K. Gfk consumer confidence, retail sales, Japan nationwide CPI, Jibun bank manufacturing PMI, Jibun bank services PMI, France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, U.K. S n P manufacturing PMI, S n P global services PMI.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 25: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 25 July 2022 03:00GMT

EUR/USD - 1.0195
Despite euro's strong retreat from Thursday's 2-week top at 1.0278 to 1.0131 (Europe) on Friday, subsequent rally back to 1.0255 in New York afternoon on broad-based usd's weakness suggests pullback over and rise from July's 20-year trough at 0.9953 may head towards projected target at 1.0316 before decline due to loss of momentum.

On the downside, only a daily close below 1.0180/90 would risk re-test of 1.0131/36, break would head to 1.0080/85.

Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders, CBI business optimism.
U.S. national activity and Dallas Fed manufacturing business index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 25: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 25 July 2022 09:30GMT

USD/JPY - 136.38
Dollar's selloff in tandem with U.S. yields on Friday after rebound from 137.03 (AUS) to 137.95 and firm break of 137.03 suggests
erratic fall from July's 24-year peak at 139.39 would head to 135.45, however, oversold condition would keep price above 135.00/10 and yield rebound later.

On the upside, only a daily close above 136.61 would indicate aforesaid correction ended and risk stronger gain to 137.00/03.

Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders, CBI business optimism.
U.S. national activity and Dallas Fed manufacturing business index on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 26: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 26 July 2022 03:00GMT

EUR/USD - 1.0212
Although euro's rebound from 1.0131 (Friday) to 1.0257 in New York yesterday suggests pullback from Thursday's 2-week peak at 1.0278 over, subsequent retreat on negative Nord Stream news would bring further sideways swings before up and above 1.0278 would extend rise from 0.9953 to 1.0300/10.

On the downside, only a daily close below below 1.0155 would risk weakness towards 1.0131, break would head to 1.0082.

Data to be released on Tuesday:
U.K. CBI distributive trades.
U.S. building permits, redbook, monthly home price, consumer confidence, new homes sales and Richmond Fed manufacturing.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 26: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major
Update Time: 26 July 2022 09:30GMT

USD/JPY - 136.53
Although dollar's strong rebound from Friday's 2-week bottom at 135.58 to as high as 136.78 ahead of New York open Monday on cross-selling in yen suggests decline from July's 24-year peak at 139.39 has made a temporary low, subsequent retreat has retained bearishness and below 135.85/90 would head back towards 135.58 again.

On the upside, only a daily close above 137.03 would signal 1st leg of correction over and risk stronger gain to 137.45/50

Data to be released on Tuesday:
U.K. CBI distributive trades.
U.S. building permits, redbook, monthly home price, consumer confidence, new homes sales and Richmond Fed manufacturing.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 27: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 27 July 2022 03:00GMT

EUR/USD - 1.0137
Euro's selloff on Tuesday from 1.0250 and then break of Friday's 1.0131 low to as low as 1.0108 in New York on broad-based rebound in usd signals 1st leg of correction from mid-July's 20-year bottom at 0.9953 has ended at 1.0278 (Thursday) and weakness to 1.0077
is seen, reckon 1.0048/50 would remain intact.

On the upside, only a daily close above 1.0180 would prolong choppy sideways swings and risk stronger gain towards 1.0204, then 1.0250/57.

Data to be released on Wednesday:
Australia CPI, Japan coincident index, leading indicator
U.K. BRC shop price index, Germany Gfk consumer sentiment, France consumer confidence, Italy business confidence, consume confidence, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense, goods trade balance, wholesale inventories, pending home sales and Fed interest rate decision.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 27: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 27 July 2022 09:30GMT

USD/JPY - 136.79
Although dollar's erratic rise from Friday's 2-week bottom at 135.58 to 136.97 in New York and intra-day break there suggests 1st leg of correction from July's fresh 24-year peak at 139.39 has ended, near term overbought condition would prevent strong gain and yield decline, below 136.29 would head to 135.80/90 before bounce.

On the upside, only a daily close above 137.39 would indicate aforesaid correction ended and risk stronger gain to 137.80/90 later.

Data to be released on Wednesday:
U.K. BRC shop price index, Germany Gfk consumer sentiment, France consumer confidence, Italy business confidence, consume confidence, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense, goods trade balance, wholesale inventories, pending home sales and Fed interest rate decision.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 28: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 28 July 2022 03:00GMT

EUR/USD - 1.0181
Despite euro's erratic fall from last Thurday's 2-week high of 1.0278 to retrace rise from July's 20-year bottom at 0.9953 to 1.0097 in post-FOMC, subsequent rally on broad-based usd's weakness due to less hawkish comments by Fed's Powell suggests pullback possibly over, above 1.0257 would yield stronger gain to 1.0295/00.

On the downside, only below 1.0150/55 would risk another fall towards 1.0097.

Data to be released on Thursday:
Australia retail sales, export prices, import prices.
France producer prices, Italy industrial sales, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer sentiment, Germany CPI.
US GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.
 

AceTRaderForex

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

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 28 July 2022 09:30GMT

USD/JPY - 135.42
Dollar's selloff on Wednesday from 137.46 to 136.33 in post -FOMC New York due to Fed Powell's less hawkish comments, then today's break of last Friday's 135.58 low to 135.11 confirms fall from July's fresh 24-year peak at 135.39 has resumed and would head towards 134.96 later.

On the upside, only a daily close above 136.05 would indicate aforesaid correction ended and yield stronger gain towards 136.33, break, 136.63.

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

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 29: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 29 July 2022 03:00GMT

EUR/USD - 1.0199
Euro's rally in post-FOMC New York at 1.0097 to 1.0220 Wednesday, then to 1.0234 in Europe yesterday suggests pullback from last Thursday's 2-week peak at 1.0278 has possibly ended, despite a sharp fall to 1.0115 at New York open, subsequent rise to 1.0199 may head to 1.0250/57 before another decline.

On the downside, only a daily close below 1.0115 would risk weakness towards 1.0097, break would extend to 1.0082.

Data to be released on Friday:
Japan Tokyo CPI, unemployment rate, industrial output, retail sales, consumer confidence, construction orders, housing starts, Australia PPI.
France consumer spending, GDP, Germany GDP, import prices, unemployment change, unemployment rate, UK nationwide house price, Swiss retail sales, KOF indicator, France CPI, Italy GDP, CPI, EU HICP.
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

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx July 29: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 29 July 2022 09:30GMT

USD/JPY - 132.81
Dollar's selloff partly in tandem with US yields and negative US GDP as well as market chatter of heavy unwinding of long usd positions to a 5-week 134.21 in New York yesterday, then intra-day sharp drop to 132.51 in European morning suggests decline from July's 24-year 139.39 peak may yield 132.35, 131.50.

On the upside, only a daily close above 133.71 would signal a temporary low is in place and stronger retracement to 134.10/20 would be seen next week.

Data to be released on Friday:
France consumer spending, GDP, Germany GDP, import prices, unemployment change, unemployment rate, UK nationwide house price, Swiss retail sales, KOF indicator, France CPI, Italy GDP, CPI, EU HICP.
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

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Aug 01: Daily Recommendations on Major -EUR/USD

flag_eur.gif DAILY MARKET OUTLOOK on Major

Update Time: 01 Aug 2022 03:00GMT

EUR/USD - 1.0218
Although euro's erratic rise from last week's 1.0097 low (Wednesday) to as high as 1.0254 in Europe Friday suggests correction from 1.0278 has ended, subsequent strong retreat to 1.0147 in New York n then intra-day rebound on renewed usd's weakness indicates upside bias remains, above 1.0254/57 would head towards 1.0278, break extends rise from July's 20-year 0.9953 trough towards 1.0298.

On the downside, only a daily close below 1.0170/74 would risk weakness towards 1.0147, then 1.0097.

Data to be released today :
Australia AIG manufacturing index, S&P manufacturing PMI, New Zealand building permits, Japan Jibun Bank manufacturing PMI, China Caixin manufacturing PMI.
Germany retail sales, S&P manufacturing PMI, Swiss Market Holiday, France S&P manufacturing PMI, EU S&P manufacturing PMI, unemployment rate, Italy S&P manufacturing PMI, unemployment rate.
U.K. S&P manufacturing PMI, U.S. S&P manufacturing PMI, construction spending, ISM manufacturing PMI and Canada market holiday on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
4,714
9
74
Hong Kong
www.acetraderfx.com
AceTraderFx Aug 01: Daily Recommendations on Major –USD/JPY

flag_yen.gif DAILY MARKET OUTLOOK on Major

Update Time: 01 Aug 2022 09:30GMT

USD/JPY - 132.44
Despite dollar's intra-day cross-inspired selloff from 133.56 in Australia and then brief break of Friday's 132.51 bottom to a fresh 7-week trough of 132.08, subsequent short covering rise to 132.75 in Asia would yield choppy trading before down, reckon 131.50 should contain downside and yield rebound.

On the downside, only a daily close above 132.75 would indicate a temporary bottom made and yield stronger retracement to 133.20/25, break, 133.51/56.

Data to be released today :
Germany retail sales, S&P manufacturing PMI, Swiss Market Holiday, France S&P manufacturing PMI, EU S&P manufacturing PMI, unemployment rate, Italy S&P manufacturing PMI, unemployment rate.
U.K. S&P manufacturing PMI, U.S. S&P manufacturing PMI, construction spending, ISM manufacturing PMI and Canada market holiday on Monday.