AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jun 2017 09:12 GMT

USD/JPY - 111.63
The greenback's strong rebound from last Thursday's low at 110.95 suggests the pullback from last Tuesday's high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June's 7-week trough at 108.83 to resume and yield re-test of said resistance.
Break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.

On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2017 05:00 GMT

EUR/USD - 1.1184
Yesterday's retreat from 1.1220 to 1.1175 in New York afternoon after dovish comments by ECB's Draghi suggests euro's corrective rise from last Tuesday's near 3-week low at 1.1119 has possibly ended and consolidation with downside bias is in store, below 1.1140/46 sup would bring subsequent weakness towards 1.1119.

On the upside, only above previous res at 1.1225/29 would yield marginal gain, however, loss of upward momentum should cap price at 1.1240/44.

Data to be released on Tuesday:
UK CBI trades, U.S. redbook, home price and consumer confidence.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2017 09:03 GMT

USD/JPY - 111.57
The greenback's strong rebound from last Thursday's low at 110.95 suggests the pullback from last Tuesday's high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June's 7-week trough at 108.83 to resume and yield re-test of said resistance, break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.

On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.

Data to be released on Tuesday:
Italy consumer confidence, business confidence, UK CBI trades, U.S. redbook, home price and consumer confidence.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2017 05:07 GMT

EUR/USD - 1.1344
Euro's spectacular rally on Tue on the back of surprise hawkish comments by ECB's Draghi and then intra-day break of previous Jun's 1.1296 high at 1.1296 (now sup) to a 10-month peak at 1.1349 in New York suggests MediumTerm upmove would head to next daily chart obj. at 1.1366.
However, overbought condition would cap price below 1.1415.

On the downside, a daily close below 1.1296 would be the first indication temporary top is in place and yield stronger retracement towards 1.1220 later this week.

Data to be released on Wednesday:
Germany import price index, UK housing prices, France consumer confidence, Italy CPI, HICP, U.S. mortgage applications, wholesale inventories, goods trade balance and pending home sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2017 09:33 GMT

USD/JPY - 111.95
The greenback's strong rebound from last Thursday's low at 110.95 suggests the pullback from last Tuesday's high at 111.79 has ended there and consolidation with upside bias would be seen for upmove from June's 7-week trough at 108.83 to resume and yield re-test of said resistance, break would extend towards 112.10/13 before prospect of a correction due to loss of momentum.

On the downside, only below 110.95 would abort daily bullishness and risk stronger retracement of aforesaid upmove towards 110.66, then 110.34/35.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Jun 2017 05:12 GMT

EUR/USD - 1.1385
Despite euro's intra-day spike down to 1.1292 at New York open, subsequent 'GBP-led' rise to a fresh 1-year peak of 1.1391 has retained bullishness for euro's MT uptrend to resume after consolidation in Asia.
However, loss of upward momentum would prevent strong gain and reckon res at 1.1447 would cap upside.

On the downside, below 1.1325/30 would be the 1st signal a temporary top is made and risk another corrective fall towards 1.1292.

Euro area countries will release of a slew of eco. data starting with Germany's Gfk consumer confidence, EU consumer , services. industrial and eco. sentiment, Germany's inflation data. ECB's Angeloni will speak at 18:30GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Jun 2017 01:16 GMT

EUR/USD - 1.1437
Despite yesterday's expected resumption of recent upmove to a 14-month peak at 1.1445 on broad-based usd's weakness in New York due to fall in U.S. equities and marginal gain is envisaged after consolidation, loss of upward momentum should cap price below psychological 1.1500 level and risk has increased for a long-overdue minor correction to take place.

A firm break of 1.1289 (New York low) anytime would be the 1st signal temporary top is in place, risk stronger retracement to 1.1325/30.

Data to be released on Friday:
New Zealand building permits, Japan Tokyo CPI, National CPI, unemployment rate, household spending, industrial production.
Germany retail sales, France consumer spending, CPI, UK consumer confidence, GDP, current account, EU CPI, core CPI.
Canada GDP, PPI, U.S. PCE, personal spending, Chicago PMI and consumer sentiment.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Jun 2017 09:36 GMT

USD/JPY - 112.00
The greenback's intra-day break of Tuesday's high at 112.47 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for gain towards 113.00, then 113.13 (previous support), however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

Data to be released on Friday:
Germany retail sales, France consumer spending, CPI, UK consumer confidence, GDP, current account, EU CPI, core CPI.
Canada GDP, PPI, U.S. PCE, personal spending, Chicago PMI and consumer sentiment.

 

[AceTRaderForex]

AceTraderFx July 03: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 03 Jul 2017 05:17 GMT

EUR/USD - 1.1421
Euro's rebound from 1.1393 last Friday suggests early pullback from Thursday's 14-month high at 1.1445 has ended and recent uptrend would head to 1.1470/75 after consolidation.
However, loss of upward momentum should cap price below 'psychological' 1.1500 level and risk has increased for a stronger correction to take place.

Below 1.1389/93 sup would signal temporary top has been made and yields weakness to 1.1149/54 later.

Economic data to be released today:
Japan tankan big manufacturing, tankan small manufacturing, manufacturing PMI, Australia building permits, Swiss retail sales, manufacturing PMI, Italy manufacturing PMI, France manufacturing PMI, Germany manufacturing PMI, EU manufacturing PMI, unemployment rate, UK manufacturing PMI, U.S. construction spending and ISM manufacturing PMI.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jul 2017 05:10 GMT

EUR/USD - 1.1371
Yesterday's break of previous 1.1389/93 sup due to long liquidation in the euro and then subsequent weakness to 1.1355 in New York on the back of upbeat U.S. eco. data confirms recent uptrend has made a temporary top at last Thursday's 14-month peak at 1.1445 and consolidation with downside bias remains for weakness to 1.1320/25 before prospect of rebound later.

On the upside, only above 1.1427 would signal aforesaid correction has ended and bring re-test of 1.1445.

Data to be released on Tuesday:
New Zealand business confidence, Australia retail sales, RBA rate decision, UK construction PMI, EU PPI and Canada manufacturing PMI.

 

[AceTRaderForex]

AceTraderFx July 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jul 2017 01:47 GMT

EUR/USD - 1.1355
Despite euro's intra-day recovery from yesterday's 1.1337 low and subsequent sideways move in holiday-thinned North American session, as long as 1.1389/93 (previous sup, now res) holds, outlook remains mildly bearish for decline from last Thursday's near 14-month peak at 1.1445 to resume, loss of downward momentum is expected to keep price above 1.1292/96 and bring rebound.

A firm break above 1.1393 would be the 1st signal said minor correction from 1.1445 has possibly ended and yield subsequent gain twd 1.1427.

Economic data due out on Wednesday include U.K. BRC shop prices, Australia's AIG services index, China's Caxin services PMI, Italy's, France's, Germany and EU's services PMI, U.K. services PMI, EU retail sales. U.S. data include Redbook ales, ISM New York index, durable goods,factory orders and then FOMC minutes.

 

[AceTRaderForex]

AceTraderFx July 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jul 2017 05:15 GMT

EUR/USD - 1.1341
Euro's rebound from yesterday's near 1-week bottom at 1.1313 (Europe) and then subsequent bounce in post-Fed minutes New York trading suggests decline from last Thursday's near 14-month peak at 1.1445 has made a temporary low and consolidation is in store, as long as 1.1400 holds, downside bias remains for marginal weakness but reckon 1.1292 sup would contain downside.

A daily close above 1.1400 signals correction is over and yields re-test of 1.1445.

Data to be released today:
Australia imports, exports, trade balance, Germany industrial orders, Swiss CPI, U.S. trade balance, jobless claims, ISM non-manufacturing PMI, Canada imports, exports and trade balance.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jul 2017 09:08 GMT

USD/JPY - 113.35
The greenback's break of Monday's high at 113.47 to 113.69 yesterday suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for gain towards 113.85/90, then 114.10/20, however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

Data to be released:
Germany industrial orders, Swiss CPI, U.S. trade balance, jobless claims, ISM non-manufacturing PMI, Canada imports, exports and trade balance.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1416.. Yesterday's impressive rally from 1.1330 to as high as 1.1424, then 1.1426 ahead of Asian open today suggests re-test of last Thursday's near 14-month peak at 1.1445 would be seen, break there (downbeat U.S. payrolls perhaps) would extend Medium Term uptrend towards psychological target early next week.

Only below 1.1375/77 (if robust U.S. jobs data) would 'prolong' choppy consolidation and yield another fall to 1.1330, then 1.1313 (Wednesday's low).

Data to be released on Friday:
Australia construction index, Japan leading indicator, Swiss unemployment rate, Germany industrial output, France budget balance, trade balance, imports, exports, Italy retail sales, UK construction output, industrial output, manufacturing output, goods trade balance, Canada employment change, unemployment rate, Ivey PMI, U.S. non-farm payrolls, private payrolls, average earnings and unemployment rate.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jul 2017 09:26 GMT

USD/JPY - 113.74
The greenback's intra-day break of Wednesday's high at 113.69 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains ahead of today's non-farm payrolls release for gain towards 113.85/90, then 114.10/20, however, near term loss of momentum would prevent strong gain beyond there and risk would increase for a much-needed correction early next week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

Data to be released on Friday:
Australia construction index, Japan leading indicator, Swiss unemployment rate, Germany industrial output, France budget balance, trade balance, imports, exports, Italy retail sales, UK construction output, industrial output, manufacturing output, goods trade balance, Canada employment change, unemployment rate, Ivey PMI, U.S. non-farm payrolls, private payrolls, average earnings and unemployment rate.

 

[AceTRaderForex]

AceTraderFx July 10: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jul 2017 05:12 GMT

EUR/USD - 1.1401
Fri's intra-day retreat from 1.1440 to 1.1380 in post-NFP New York trading suggests further choppy trading below Jun's near 14-month peak at 1.1445 would continue with downside bias, below 1.1380 would bring another fall to 1.1357/60, however, as outlook remains consolidative, 1.1330 would contain weakness.

Only above 1.1440/45 extends Medium Term upmove to 1.1460/70, however, loss of upward momentum should cap price well below 1.1500.

Data to be released today:
Japan current account, trade balance, machinery orders, China CPI, PPI, Germany imports, exports, current account, trade balance and EU sentix index on Monday.

 

[AceTRaderForex]

AceTraderFx July 10: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jul 2017 10:00 GMT

USD/JPY - 114.17
The greenback's intra-day break of Friday's high at 114.18 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for a re-test of May's peak at 114.37, break there would retain bullishness for 114.50/60.
However, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.

After Friday's key U.S. jobs data, no U.S. eco. data will be due out today.
The next important eco. event is Wednesday's semi-annual monetary policy testimony by Fed Chair before the House Financial Services Committee.

 

[AceTRaderForex]

AceTraderFx July 11: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jul 2017 05:25 GMT

EUR/USD - 1.1395
Despite moving narrowly in yesterday's lackluster session, euro's decline from 1.1440 to 1.1380 in post-NFP New York trading suggests choppy trading below June's near 14-month peak at 1.1445 would continue with downside bias, a firm break of 1.1380 would ring stronger retracement towards 1.1330.

Only above 1.1440/45 confirms Medium Term upmove has resumed, however, loss of upward momentum should cap price below 'psychological' 1.1500.

Data to be released on Tuesday:
UK BRC retail sales, Australia NAB business conditions, business confidence, Italy industrial output.
Canada housing starts, U.S. Redbook, wholesale inventories and wholesale sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jul 2017 02:03 GMT

EUR/USD - 1.1474
Despite swing broadly sideways in last 2 sessions, yesterday's rally in New York due to usd's broad-based weakness and then break of June's near 14-month peak at 1.1445 to 1.1479 confirms Medium Term uptrend from 1.0341 (January) has finally resumed and test of 'psychological' 1.1500 level is now envisaged, reckon minor res at 1.1530 would cap upside.

On the downside, only a daily close below 1.1445 would be the 1st signal temporary top is made, risk stronger retracement towards 1.1380.

Data to be released on Wednesday:
Japan CGPI, Australia consumer sentiment.
UK unemployment rate, average week earnings, EU industrial production.
Canada BoC rate decision, U.S. mortgage applications and Beige book. Fed Chair will testify before the Congress.

 

[AceTRaderForex]

AceTraderFx July 12: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jul 2017 09:37 GMT

USD/JPY - 113.42
The greenback's intra-day break of Friday's high at 114.18 suggests erratic upmove from June's trough at 108.82 has once again resumed and consolidation with upside bias remains for a re-test of May's peak at 114.37, break there would retain bullishness for 114.50/60, however, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction later this week.

On the downside, only below 111.79 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement towards 111.37/40.