AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

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

EUR/USD - 1.0159
Despite euro's rally above previous August's 1.0293 high to a 5-week peak of 1.0368 last Wednesday, subsequent decline to 1.0239 Friday, then yesterday's selloff to 1.0155 signals corrective rise from July's 20-year 0.9953 low has possibly ended and would head towards 1.0112, reckon pivotal 1.0097 support would hold.

On the upside, only a daily close above 1.0223 would risk stronger gain to 1.0240/50.

Data to be released on Tuesday:
Japan Tertiary industry activities.
U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance, ZEW survey expectations, Germany ZEW economics sentiment, ZEW current conditions, Canada housing starts, CPI, U.S. building permits, housing starts, redbook, industrial output, capacity utilization and manufacturing output.

 

[AceTRaderForex]

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

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

USD/JPY - 133.83
Although dollar's fall from 135.57 last Monday to 131.74 (Thursday) suggests early strong rise from August's 7-week bottom at 130.41 has made a top, subsequent rebound to 133.89 Friday and yesterday's decline to 132.56 in New York, then intra-day rebound on broad-based usd's strength in tandem with U.S. yields would prolong choppy range trading and above 133.54/59 needed for re-test of 133.89, break, 134.37.

On the downside, only a daily close below 132.56 may risk weakness towards 132.04 but 131.74 should hold.

Data to be released on Tuesday:
U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance, ZEW survey expectations, Germany ZEW economics sentiment, ZEW current conditions, Canada housing starts, CPI, U.S. building permits, housing starts, redbook, industrial output, capacity utilization and manufacturing output.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0169
Despite euro's rally above previous August's 1.0293 high to a 5-week peak of 1.0368 last Wednesday, subsequent decline to 1.0239 Friday, then selloff to 1.0123 ahead of New York open yesterday signals rise from July's 20-year 0.9953 low has possibly ended and as 1.0194 has capped rebound in New York, consolidation with downside bias remains but below 1.0112 needed for 1.0097.

On the upside, only a daily close above 1.0239 would prolong choppy swings and risk stronger gain to 1.0274/76.

Data to be released on Wednesday:
New Zealand PPI input, PPI output, RBNZ interest rate decision, Japan machinery orders, exports, imports, trade balance, Australia Westpac leading index, wage price index.
U.K. CPI, RPI, PPI input prices, PPI output prices, EU employment, GDP.
U.S. MBA mortgage application, retail sales and business inventories.

 

[AceTRaderForex]

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

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

USD/JPY - 134.81
Despite dollar's fall from 135.57 last Monday to retrace early rise from August's 7-week 130.41 bottom to 131.74 on last Thursday, subsequent bounce to 133.89 and yesterday's cross-inspired rally to 134.68, then present break there in tandem with U.S. yields signals recent upmove would extend towards 135.30.

On the downside, only a daily close below 133.89/92 would prolong choppy swings and risk weakness to 133.54/59.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, EU employment, GDP.
U.S. MBA mortgage application, retail sales and business inventories.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0184
Despite euro's rally above previous Aug's 1.0293 high to a 5-week peak of 1.0368 last Wed, subsequent decline to 1.0123 (Tue) signals rise from Jul's 20-year 0.9953 low has possibly ended, yesterday's rebound to 1.0202 on less-hawkish FOMC minutes would yield range trading before fall and a daily close below 1.0112 would head towards 1.0097.

On the downside, only a daily close above 1.0202 may prolong choppy swings and risk stronger gain to 1.0223/33 before down.

Data to be released on Thursday:
Australia employment change, unemployment rate.
Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada producer prices, U.S. existing home sales and leading index change.

 

[AceTRaderForex]

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

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

USD/JPY - 135.32
Dollar's intra-day rally in tandem with U.S. yields to a 2-week high of 135.49 in New York suggests re-test of August's 135.57 high would be forthcoming next, above would extend upmove from August's 130.41 7-week trough at 130.41 towards 135.96 before prospect of decline later.

On the downside, only a daily close below 134.68 would prolong choppy swings and risk weakness towards 134.43, break would head to 133.92/97.

Data to be released on Thursday:
Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada producer prices, U.S. existing home sales and leading index change.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0081
Euro's recent decline from August's 5-week high at 1.0368 to 1.0081 (New York) yesterday due to broad-based usd's rally following hawkish comments by Fed officials suggests correction from July's 20-year bottom at 0.9953 has ended and downside bias remains for further weakness, oversold condition would keep euro above 1.0007.

On the upside, only a daily close above 1.0123 (Tuesday low, now res) signals temporary low is made and may risk stronger retracement to 1.0178/88 on Monday.

Data to be released on Friday :
New Zealand imports, trade balance, exports, Japan nationwide CPI.
U.K. Gfk consumer confidence, Germany producer prices, U.K. PSNB GBP, PSNCR GBP, retail sales, Swiss industrial production, EU current account.
Canada retail sales.

 

[AceTRaderForex]

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

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

USD/JPY - 136.51
Dollar's intra-day rally in tandem with U.S. yields to a 2-week high of 135.49 in New York suggests re-test of Aug's 135.57 high would be forthcoming next, above would extend upmove from Aug's 130.41 7-week trough at 130.41 towards 135.96 before prospect of decline later.

On the downside, only a daily close below 134.68 would prolong choppy swings and risk weakness towards 134.43, break would head to 133.92/97.

Data to be released on Friday :
U.K. Gfk consumer confidence, Germany producer prices, U.K. PSNB GBP, PSNCR GBP, retail sales, Swiss industrial production, EU current account.
Canada retail sales.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0032
Euro's recent decline from August's 1.0368 peak to a 1-month low of 1.0033 in New York last Friday due to broad-based usd's strength in tandem with rally in U.S. yields suggests re-test of July's 20-year bottom at 0.9953 would be seen later today or tomorrow before prospect of minor recovery.

On the upside, only a daily close abovw 1.0095 would risk retracement towards 1.0123.

Data to be released today :
U.S. national activity index and Canada new housing price index on Monday.

 

[AceTRaderForex]

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

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

USD/JPY - 136.78
Dollar's rally on hawkish Fedspeak Thusday and then gain to 137.23 in New York on Friday on broad-based usd's strength in tandem with U.S. yields suggests correction from July's 24-year peak at 139.39 has ended earlier at 130.41 (August low) and further headway to 137.60/70 is envisaged, reckon 137.95 would cap upside and yield retreat later.

On the downside, only a daily close below 136.37 may risk stronger retracement to 135.80/90.

Data to be released later :
U.S. national activity index and Canada new housing price index on Monday.

 

[AceTRaderForex]

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

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

EUR/USD - 0.9935
Yesterday's selloff below Jul's 0.9953 low to a fresh 20-year trough of 0.9927 and daily close below there due to usd's broad-based strength suggests recent down-trend has finally resumed and would head to projected objective at 0.9851 which may hold due to oversold condition.
On the upside, only a daily close above 0.9990 would indicate a temporary trough is made and risk stronger retracement towards 1.0033.

Data to be released on Tuesday:
Australia manufacturing PMI, services PMI, Japan 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, consumer confidence, U.K. S n P manufacturing PMI, S n P global services PMI.
U.S. building permits, redbook, S n P manufacturing PMI, S n P global services PMI, new home sales, and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

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

USD/JPY - 137.22
Dollar's resumption of recent upmove from August's 130.41 bottom in tandem with U.S. yields to a near 1-month high of 137.64 in New York Monday on broad-based rally in usd, then intra-day break there suggests pullback from Jul's 24-year peak at 139.39 has ended and further gain to 138.00/10 is envisaged next after consolidation.

On the downside, only a daily close below 136.71 would indicate a temporary top is made and risk weakness to 136.32/37.

Data to be released on Tuesday:
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, consumer confidence, U.K. S n P manufacturing PMI, S n P global services PMI.
U.S. building permits, redbook, S n P manufacturing PMI, S n P global services PMI, new home sales, and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

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

EUR/USD - 0.9962
Euro's break of July's 0.9953 low to a fresh 20-year trough of 0.9927 Monday confirms long term downtrend has resumed and despite staging a strong rebound from 0.9001 (Europe) to 1.0018 in New York yesterday, subsequent retreat has retained daily bearishness and below 0.9901 would yield 0.9868.

On the upside, only a daily close above 1.0018 would risk stronger retracement of recent decline towards 1.0046, break, 1.0070/80.

Data to be released on Wednesday:
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense and pending home sales.

 

[AceTRaderForex]

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

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

USD/JPY - 136.46
Although Tue's marginal gain to 137.71 (Asia) signals correction from July's 24-year 139.39 peak has ended at 130.41 (August low) earlier, selloff in New York to 135.82 on weak US PMIs suggests temporary top is made, subsequent bounce has retained bullish outlook and above 137.03/05 would yield stronger gain to 137.60/70.

On the downside, only a daily close below 136.00 would risk stronger retracement towards 135.82, break, 135.57.

Data to be released on Wednesday:
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense and pending home sales.

 

[AceTRaderForex]

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

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

EUR/USD - 0.9972
Euro's break of July's 0.9953 low Mon to a fresh 20-year trough of 0.9901 Tue confirms long term downtrend has resumed, however, subsequent bounce to 1.0018, then fall to 0.9911 yesterday and intra-day rally to 1.0000 would yield further choppy swings before heading towards 0.9868.

On the upside, only a daily close above 1.0018 would indicate a temporary trough is made and risk stronger retracement towards 1.0046 but 1.0070/80 should cap upside.

 

[AceTRaderForex]

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

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

USD/JPY - 136.57
Although Tue's marginal gain to 137.71 (Asia) signals correction from July's 24-year 139.39 peak has ended at 130.41 (August low) earlier, selloff in New York to 135.82 on weak US PMIs suggests temporary top is made, subsequent bounce has retained bullish outlook and above 137.03/05 would yield stronger gain to 137.60/70.

On the downside, only a daily close below 136.00 would risk stronger retracement towards 135.82, break, 135.57.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Aug 2022 02:30GMT

EUR/USD - 0.9968
Euro's break of July's 0.9953 low Monday to a fresh 20-year trough of 0.9901 Tuesday confirms long term downtrend has resumed, however, subsequent bounce to 1.0018, then erratic rise to 1.0033 yesterday signals a temporary low is made, intra-day fall to 0.9950 would yield 0.9901, break, 0.9883.

On the upside, only a daily close above 1.0000 would risk stronger retracement of said decline towards 1.0033, 1.0071.

Data to be released on Friday:
Japan Tokyo CPI.
Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal spending, personal income, PCE prices index, goods trade balance wholesale inventories, University of Michigan sentiment and Canada budget balance.

 

[AceTRaderForex]

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

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

USD/JPY - 136.98
Although dollar's upmove from August's 130.41 low to 137.71 Tuesday suggests correction from July's 24-year peak at 139.39 has ended, subsequent brief but sharp re-treat to 135.82 the same day and subsequent choppy swings would continue before prospect of another rise, above 137.24 (Wednesday top), 137.60/70.

On the downside, only a daily close below 136.18 may risk weakness to 135.82/85.

Data to be released on Friday:
Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence.
U.S. personal spending, personal income, PCE prices index, goods trade balance wholesale inventories, University of Michigan

 

[AceTRaderForex]

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

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

EUR/USD - 0.9935
As euro's intra-day wild swings during Fed Powell's Jackson Hole speech ended with price tumbling from 1.0089 to as low as 0.9957 due to broad-based safe-haven buying in the greenback, intra-day break of Friday's 0.9947 low (Europe) would head towards August's fresh 20-year bottom at 0.9901, a break there would extend recent downtrend to 0.9850/55 later.

On the upside, only above 1.0000 handle 'prolongs' choppy sideways swings above 0.9901 but reckon 1.0033 should cap upside.

Data to be released today:
Australia retail sales, Japan coincident index, leading index, U.K. market holiday and U.S. Dallas Fed manufacturing business index on Monday.

 

[AceTRaderForex]

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

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

USD/JPY - 138.82
As dollar's daily wild swings from last Tuesday's 1-month high of 137.71 has finally ended on Friday with price initially spiking down to 136.31 Friday after hawkish comments by Fed's Powell and subsequent gain to 137.74, then intra-day rally would head towards July's 24-year 139.39 peak, above 139.39 would extend towards 140.00.

On the downside, only a daily close below 138.09 would risk stronger retracement to 137.71/74.

Data to be released later:
U.K. market holiday and U.S. Dallas Fed manufacturing business index on Monday.