AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

AceTraderFx Jun 05: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jun 2017 09:07 GMT

USD/JPY - 110.48
Despite intra-day selloff to 110.33 in New York on Friday after poor U.S. jobs report, subsequent rebound suggests further choppy trading above May's trough at 110.24 would continue with upside bias and gain towards resistance at 11188 is likely, however, as broad-outlook remains consolidative, reckon 111.48 would remain intact this week and yield retreat.

On the downside, only below 110.33 would revive bearishness for weakness towards 110.24, daily close below there would signal recent decline has resumed and extend to 110.00.

Data to be released today:
Italy services PMI, France services PMI, Germany services PMI, EU services PMI, sentix index, UK services PMI.
U.S. labour costs, productivity, services PMI, factory orders and ISM non-manufacturing PMI on Monday.

 

[AceTRaderForex]

AceTraderFx June 06: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jun 2017 09:04 GMT

USD/JPY - 109.63
Dollar's intra-day fall below previous key support at 110.24 (May) signals erratic decline from May's peak at 114.37 has once again resumed and consolidation with downside bias would be seen for weakness towards 109.32, however, loss of momentum would prevent sharp fall beyond there and reckon 108.89 would remain intact this week and yield a much-needed correction later.

On the upside, only above yesterday's high at 110.73 would indicate a temporary low has been made and risk stronger retracement to 111.47/50 before prospect of another retreat.

Data to be released on Tuesday:
UK BRC retail sales, EU retail sales, U.S. Redbook and Canada Ivey PMI.

 

[AceTRaderForex]

AceTraderFx June 07: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2017 05:03 GMT

EUR/USD - 1.1274
Euro's rebound to 1.1283 yesterday suggests correction from last Friday's near 7-month peak at 1.1285 has ended earlier at 1.01235 (Monday) and Medium Term upmove would head to next daily objective at 1.1300 after consolidation.
However, 'loss of upward momentum' should cap price below 1.1366 res ahead of Thursday's ECB monetary policy meeting.

On the downside, only below 1.1235 sup would prolong choppy consolidation and risk stronger retracement to 1.1202/05 before of another rise later.

 

[AceTRaderForex]

AceTraderFx June 07: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2017 09:18 GMT

USD/JPY - 109.30
Dollar's intra-day fall below previous key support at 110.24 (May) signals erratic decline from May's peak at 114.37 has once again resumed and consolidation with downside bias would be seen for weakness towards 109.05/10.
However, loss of momentum would prevent sharp fall beyond there and reckon 108.89 would remain intact this week and yield a much-needed correction later.

On the upside, only above yesterday's high at 110.73 would indicate a temporary low has been made and risk stronger retracement to 111.47/50 before prospect of another retreat.

 

[AceTRaderForex]

AceTraderFx Jun 08: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2017 05:11 GMT

EUR/USD - 1.1248
Euro is expected to range trade ahead of ECB Draghi's press conference following yesterday's 'roller-coaster' moves due to media reports of diverging ECB's views on inflation and growth .
As long as good sup at 1.0203-05 holds, Medium Term upmove would head to 1.1300 chart obj., however, loss of upward momentum should cap price below daily res at 1.1366.

A daily close below said sup would confirm top has been made, then risk would shift to the downside for stronger retracement to 1.1165.

 

[AceTRaderForex]

AceTraderFx Jun 08: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2017 09:30 GMT

USD/JPY - 109.89
Despite yesterday's selloff to a fresh 6-week trough at 109.12, subsequent strong rebound to 110.01 at Asian open today suggests the erratic decline from May's peak at 114.37 has made a temporary bottom there and choppy trading with upside bias would be seen for gain towards 110.24 (previous support, now resistance), however, near term loss of momentum would keep price below 110.40/50 and yield retreat.

On the downside, only below 109.12 would revive bearishness for further weakness towards 108.89/90 but over sold condition would prevent steep fall beyond there and risk would increase for a correction later.

 

[AceTRaderForex]

AceTraderFx Jun 09: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jun 2017 05:11 GMT

EUR/USD - 1.1192
Euro's intra-day break of yesterday's post-ECB low of 1.1180 suggests medium-term uptrend has made a temporary top at last Friday's near 7-month peak at 1.1285 and consolidation with downside bias remains for a much-needed correction to 1.1165, however, near term oversold condition is expected to keep price above 1.1110 sup today.

On the upside, only above 1.1263 (Thursday's New York high) signals correction has ended and risks possible re-test of 1.1285 later.

Data to be released on Friday:
German exports, imports, trade balance, France industrial output, budget balance, UK manufacturing production, industrial production, trade balance, U.S. wholesale inventories, Canada unemployment rate, employment change and capacity utilisation.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jun 2017 05:05 GMT

EUR/USD - 1.1210
Euro's weakness to a fresh 1-week low at 1.1167 in New York confirms medium-term upmove has made a temporary top at May's near 7-month peak at 1.1285 and consolidation with downside bias remains for stronger retracement to 1.1145/50, however, previous sup at 1.1110 should remain intact ahead of Wed's FOMC rate decision.

On the upside, only above 1.1263 signals said correction is over and risks re-test of 1.1285 later.

Eco. calendar for the euro area countries is very light with Italy's industrial output being the only data due out at 08:00GMT. Bundesbank will publish its month report at 10:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jun 2017 05:34 GMT

EUR/USD - 1.1192
Although euro's rebound from last Fri's 1.1167 low to 1.1232 yesterday signals 1st leg of correction from May's near 7-month peak at 1.1265 has ended, subsequent retreat has retained bearish prospect of another decline, below 1.1165/67 would confirm this view, however, loss of downward momentum should keep price above daily sup at 1.1110.

Only a daily close above 1.1232 dampens bearishness on euro and may risk stronger gain towards 1.1263 later.

Pay particular attention to release of Germany's ZEW deco. sentiment and eco. conditions index at 09:00GMT, then EU's ZEW eco. sentiment index. Do pay attention to speeches by Germany's FinMIn Schaeuble n Buba's President Weidmann around 07:15GMT in Berlin n then at 08:30GMT, ECB's Lautenschlager will speak at a conference in London.

 

[AceTRaderForex]

AceTraderFx Jun 13: Daily Recommendations on Major -GBP/USD

DAILY MARKET OUTLOOK on Major
Update Time 13 Jun 2017 07:30GMT

DAILY GBP/USD OUTLOOK - 1.2685
Cable's cross-inspired break of 1.2702/07 sup to 1.2639 Monday confirms correction from last Friday's 8-week low at 1.2636 has ended at 1.2780 (New York) and recent decline from May's 7-1/2 month peak at 1.3048 would head towards 1.2615, 'loss of momentum' would keep GBP above 1.2575.

Sell on recovery for 1.2615 and only above 1.2720/25 prolongs consolidation, risks 1.2770/80 before down.

 

[AceTRaderForex]

AceTraderFx Jun 14: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 14 Jun 2017 05:03 GMT

EUR/USD - 1.1211
Yesterday's sideways swings following early rebound from last Friday's 1-week low at 1.1167 signals first leg of correction from May's near 7-month peak at 1.1285 has ended and range trading would continue ahead of Fed rate decision later today, as long as 1.1263 holds downside bias remains for stronger correction to 1.1035/40 but daily sup at 1.1110 should remain intact.

Only above 1.1285 confirms Medium Term uptrend has once again resumed and extend gain to 1.1320/30, loss of momentum should cap price below 1.1366 this week.

 

[AceTRaderForex]

AceTraderFx Jun 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 14 Jun 2017 05:03 GMT

EUR/USD - 1.1211
Yesterday's sideways swings following early rebound from last Friday's 1-week low at 1.1167 signals first leg of correction from May's near 7-month peak at 1.1285 has ended and range trading would continue ahead of Fed rate decision later today, as long as 1.1263 holds downside bias remains for stronger correction to 1.1035/40 but daily sup at 1.1110 should remain intact.

Only above 1.1285 confirms Medium Term uptrend has once again resumed and extend gain to 1.1320/30, loss of momentum should cap price below 1.1366 this week.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jun 2017 05:21GMT

EUR/USD - 1.1155
Yesterday's anticipated weakness to 1.1133 and then daily close below last week's 1.1167 low confirms euro's medium-term upmove has indeed made a temporary top at Wed's 7-month peak at 1.1286 and re-test of next daily sup at 1.1110 is envisaged, near term loss of momentum would keep price above 1.1076 today.

Only above 1.1194 signals 1st leg of correction is over but 1.1225/29 would cap upside.
EU will release inflation data n EZ FInMins are meeting in Brussels today, so keep an eye out on comments by some of the officials during European session.

 

[AceTRaderForex]

AceTraderFx Jun 13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update: 16 Jun 2017 09:27GMT

DAILY USD/JPY OUTLOOK - 111.14
Dlr's impressive rally in post-FOMC 7-week low at 108.83 to as high as 111.27 today confirms decline from May's 114.37 has made a low there and upside bias remains for gain to 111.60 (50% r).
However, reckon 112.13 should hold and yield retreat later.

Raise long entry for this move and only below 110.34 risk stronger retrace to 109.87 before another rise

Pay attention to a slew of U.S. eco. data later in the day starting with building permits, housing starts and University of Michigan consumer confidence, if actual readings of the latter 2 data come out better than street forecast, then the greenback will head higher in New York morning.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major

Update Time: 19 Jun 2017 06:18 GMT
EUR/USD - 1.1196

Although euro's rally from to 1.1139 to 1.1201 (New York) after downbeat U.S. eco. data suggests 1st leg of correction from Wednesday's 7-month peak at 1.1296 has ended at 1.1133 (Thursday) and consolidation with mild upside bias is in store, reckon 1.1245/50 would cap present rise and yield another leg of decline later this week.

A firm break of 1.1155/60 would signal correction is over and bring weakness to 1.1110, however, loss of downward momentum would keep price to 1.1076.

Apart rm release of a slew of euro countries' eco. data, pay attention to speeches by ECB's Lautenschlaeger at 09:00GMT, then later ECB's Nousy at 14:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jun 2017 06:24 GMT

EUR/USD - 1.1163
Yesterday's intra-day fall from 1.1213 to 1.1144 in New York, then 1.1141 today suggests euro's correction from last week's 1.1133 low has ended and early decline from June's 7-month peak at 1.1296 should pressure to 1.1110 after consolidation, 'loss of momentum' would keep price above 1.1176 sup.

Only above 1.1200 prolongs volatile sideways swings and risks another corrective rise to 1.1225/29 before another fall later this week.

Euro area countries will release a slew of eco. data starting with Germany's PPI and then EU's current account. EU's Commissioner Dombrovskis will speak to EU parliament's committee on economic affairs, ECB's Coeure will speak at a conference in Frankfurt at 15:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Jun 2017 05:06 GMT

EUR/USD - 1.1135
Yesterday's brief break of last week's 1.1133 low to 1.1119 in New York confirms decline from Jun's 7-month peak at 1.1296 has once again resumed and expect minor consolidation before said fall heads towards 1.1076.

Only a daily close above 1.1165 signals temporary low has been made and may risk stronger retracement towards 1.1213 before prospect of another drop later.

U.S. eco. calendar is very light today but do pay attention to the release of existing home sales for May, street forecasts are 5.60 M units and a drops of 0.5%, if actual readings are worse then expectations, dlr may come further selling pressure.
Fed officials after last 2 days of active speeches at various times n places, are absent today, so no need to keep an eye out on the breaking news page.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Jun 2017 05:03 GMT

EUR/USD - 1.1163
Euro's rebound from 1.1127 to 1.1169 yesterday, then 1.1171 today signals recent decline from June's 7-month peak at 1.1296 has made a temporary low at 1.1119 on Tuesday and as long as 1.1127/31 holds, consolidation with mild upside bias remains for stronger retracement to 1.1200, however, reckon 1.1213 res would cap present rise.

ON the downside, below 1.1127 would suggest correction is over and yield weakness to next daily chart objective at 1.1110, loss of downward momentum should keep price above 1.1076 this week.

Eco. calendar for euro area counties is pretty light with France's business climate being the only one due out at 06:45GMT.
The European Council will start a 2-day meeting in Brussels today and one of the key top is obviously the Brexit negotiations, so keep an eye out for the comments by EU officials during European morning and New York time.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Jun 2017 05:10 GMT

EUR/USD - 1.1149
Euro's retreat from 1.1178 to 1.1140 yesterday suggests 1st leg of correction from Tuesday's near 3-week bottom at 1.1119 has ended and consolidation is in store before prospect of another rise, reckon res at 1.1213 would cap upside and yield resumption of recent decline later next week.

Only below 1.1119 would extend early fall from June's 7-month peak at 1.1296 towards next daily downside chart objective at 1.1076.

Eco. calendar for the euro area countries is pretty heavy starting with France's GDP, Markit mfg and services PMIs, Germany's mfg & services PMIs, Italy's industrial sales n orders, EU Markit mfg n services PMIs.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jun 2017 05:14 GMT

EUR/USD - 1.1195
Euro's anticipated rise to 1.1209 Friday suggests corrective upmove from Tuesday's near 3-week trough at 1.1119 would extend marginal gain to 1.1225/29 after consolidation, loss of upward momentum should cap price at 1.1240/45 and yield subsequent retreat.

On the downside, below 1.1162 would be the 1st signal said correction is over and yield weakness to 1.1140.

Pay attention to release of key Germany Ifo data at 08:00GMT, street forecast is for Jun is 114.2 cs previous reading at 114.6.
If actual data comes in better than expectation, then euro would gain a bit. Last but not least, ECB President Draghi will speak in Lisbon and Sintra late in the day at 17:30GMT.