AceTraderFx : Daily Recommendations on Major

Discussion in 'Technical Analysis' started by AceTRaderForex, Feb 17, 2016.

  1. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 07 Feb 2018 05:30 GMT

    EUR/USD - 1.2387
    Despite yesterday's intra-day selloff from 1.2434 (Europe) to a near 2-week trough of 1.2314 in New York morning, subsequent rally to 1.2405 due to strong bounce in U.S. equities suggests euro's correction from Jan's 3-year peak at 1.2538 has possibly ended and consolidation with upside bias is seen, above 1.2434 would encourage for further gain twd 1.2475 later this week.

    ON the downside, only below 1.2336 would risk marginal weakness to 1.2300, loss of downward momentum should keep price above 1.2271/75.

    Data out on Wednesday:
    New Zealand unemployment rate, Australia AIG construction index, Japan conincident indicator, leading indicator.
    Germany industrial output, France current account, trade balance, imports, exports, Italy retail sales.
    U.S. MBA mortgage application, ADP employment, and Canada building permits
     
  2. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 07 Feb 2018 09:30 GMT

    USD/JPY - 108.93
    Although dlr's erratic rise from Tue's 108.46 to 109.72 (AUS) today suggests further 'choppy' trading above January's 4-month trough at 108.29 would continue, intra-day sharp retreat due to renewed cross-buying of yen signals consolidation with downside bias remains, reckon 108.55/60 would contain weakness.

    Above 109.35/40 would encourage for another rise twd 109.72 but break there needed to retain bullish prospect of stronger gain to 110.00/10.

    No major U.S. eco. data is due out but one can have a look for speeches by Dallas Fed's Kaplan at 11:00GMT, Fed's Dudley at 13:30GMT and Chicago Fed's Evans at 15:30GMT.
     
  3. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 07 Feb 2018 05:30 GMT

    EUR/USD - 1.2271
    Euro's selloff below Tuesday's 1.2314 low (now res) to a fresh 2-week trough of 1.2247 in New York yesterday suggests recent decline from January's 3-year peak at 1.2538 would pressure price to 1.2200/10 after consolidation, near term loss of downward momentum should keep price above daily cup at 1.2166.

    On the upside, only a daily close above 1.2314 confirms temporary low is in place and risk would shift to the upside for a stronger retracement to 1.2370/80.

    Germany will release trade data n EU will release economic bulletin. WE have a number of ECB officials speaking during European morning (refer to EI section for details), so keep an eye out for their comments.
     
  4. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 09 Feb 2018 05:30 GMT

    EUR/USD - 1.2257
    Despite euro's intra-day cable-led rebound from a near 3-week trough of 1.2212 to 1.2294, subsequent retreat suggests downside bias remains for recent decline to resume after consolidation, loss of downward momentum would prevent steep fall today and reckon daily sup at 1.2166 should remain intact.

    On the upside, a daily close above 1.2295 would be the 1st signal temporary low has been made and yield stronger retracement to 1.2314, then towards 1.2375 next week.

    Eco. calendar in the euro area is very light with France's n Italy's industrial production being the only data due out.
     
  5. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 09: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 09 Feb 2018 10:00 GMT

    USD/JPY - 109.05
    Despite extending decline from yesterday's 109.79 high to 108.50 initially today, intra-day strong rebound to 109.31 due to cross-selling in yen on late recovery in the Nikkie suggests choppy trading above this week's low at 108.46 (Tuesday) would continue and marginal gain can't be ruled out, reckon 109.79 res would cap present rise and yield another retreat,

    Below 108.46/50 would bring re-test of Jan's 4-month bottom at 108.29 but break needed to extend Medium Term fall towards 107.32 next week.
     
  6. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 12 Feb 2018 06:00 GMT

    EUR/USD - 1.2252
    Although euro's intra-day rebound from Friday's near 3-week trough of 1.2206 suggests recent decline has made a temporary low and initial range trading is in store, as long as previous res at 1.2294/95 holds, downside bias remains, loss of downward momentum would limit weakness to 1.2185/95.

    Only a daily close above 1.2295 would risk stronger retracement to 1.2314 but 1.2360/70 should cap upside.

    No eco. data is due out from the euro area countries so funds flow will have a direct influence on intra-day price swings.
     
  7. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 12 Feb 2018 10:00 GMT


    USD/JPY - 108.73
    Despite dollar's cross-inspired resumption of recent erratic decline to a 5-month bottom of 108.05 on Friday, as price has has risen in tandem with rally in U.S. stocks, suggesting temporary low has been made and 1-2 days of choppy consolidation is in store with upside bias.

    Above 108.95 (AUS) would encourage for stronger retracement to 109.31, however, reckon res at 109.79 should cap upside and only below 108.26/30 risks weakness to 08.00/05.

    Data to be released today:
    Swiss CPI, Canada market holiday, and U.S. Fed budget on Monday
     
  8. AceTRaderForex

    AceTRaderForex Master Trader

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

    DAILY MARKET OUTLOOK on Major
    Update Time: 13 Feb 2018 04:30 GMT

    EUR/USD - 1.2287
    Despite euro's intra-day retreat from 1.2297 (Europe) to 1.2235 in New York yesterday's subsequent rebound to 1.2297 near the close, then today's brief gain to 1.2307 strongly suggests recent decline has made a temporary low at Friday's near 3-week bottom at 1.2206 and above 1.2314 (previous sup, now res) would add credence on this view and bring stronger gain to 1.2333, then towards 1.2370.

    Only below 1.2235 signals recovery is over and risk one more fall, however, loss of downward momentum would keep price above daily sup at 1.2166.

    Data to be released on Tuesday:
    Japan corporate goods price, Australia NAB business conditions, France non-farm payrolls, Swiss producer/import price, UK DCLG house price index, CPI, RPI, PPI input, PPI output, and U.S. redbook
     
  9. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 13 Feb 2018 05:30 GMT

    USD/JPY - 107.68
    Despite dollar's cross-inspired resumption of recent erratic decline to a 5-month bottom of 108.05 on Friday, as price has has risen in tandem with rally in U.S. stocks, suggesting temporary low has been made and 1-2 days of choppy consolidation is in store with upside bias.

    Above 108.95 (AUS) would encourage for stronger retracement to 109.31, however, reckon res at 109.79 should cap upside and only below 108.26/30 risks weakness to 108.00/05.

    U.S. eco. calendar is very thin with Redbook retail sales being the only data due out ahead of Wed's key inflation n retail sales data.
    Last but not least, Cleveland Fed President (voter) will speak on the economic outlook at a breakfast conference at 13:00GMT.
     
  10. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 14 Feb 2018 05:30 GMT

    EUR/USD - 1.2358
    Yesterday's yen-led rally above 1.2314 to 1.2371 in New York signals euro's recent correction from January's 3-year peak at 1.2538 has possibly ended and consolidation with upside bias is seen, near term loss of upward momentum is expected to cap price at 1.2434 and bring subsequent retreat.

    On the downside, expect 1.2314 to and yield marginal gain and only a daily close below there risks stronger retracement towards 1.2285 before prospect of another rise.

    Today is GDP day in the euro area counties, Germany will kick off with GDP, CPI, then Italy's GDP, the same from the EU n industrial production. Also, there is quite a no. of ECB members n European officials delivering speeches during the day, please refer to our Economic Indicators page for details.
     
  11. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 14: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 14 Feb 2018 09:30 GMT

    USD/JPY - 107.38
    Despite the greenback's selloff below yesterday's low at 107.41 to a fresh 15-month trough at 106.84 on broad-based buying yen, current rebound suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement to 107.90, however, 108.05/10 should remain intact and yield another fall later today or early tomorrow.

    On the upside, only above 108.05 would confirm a bottom has been made and risk stronger correction towards 108.44/50 before prospect of retreat.

    Data to be released on Wednesday:
    Japan GDP, GPD deflator, Germany GDP flash, CPI final, HICP final, Italy GDP, EU GDP flash, industrial production, and U.S. MBA mortgage application, CPI, real weekly earnings, retail sales, business inventories
     
  12. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 15 Feb 2018 07:00 GMT

    EUR/USD - 1.2459
    Euro's intra-day rally in post-U.S. CPI New York session from 1.2276 to as high as 1.2465 signals early correction from Jan's 3-year peak at 1.2538 has ended there and upside bias remains for gain to 1.2500/10, break there would encourage for re-test of 1.2538 later today or tomorrow.

    Expect 1.2392 (previous res, now sup) to hold for this move and only a daily close below there 'prolongs' volatile consolidation and risks stronger retracement to 1.2345/55.

    Data to be released on Thursday:
    Australia consumer confidence, employment change, unemployment rate, Japan machinery orders, industrial production, capacity utilization, machine tool orders.
    France ILO unemployment rate, Italy trade balance, EU trade balance.
    U.S. New York Fed manufacturing index, initial jobless claims, Philadelphia Fed Survey, PPI, Industrial production, capacity utilization, manufacturing output, NAHB housing market index
     
  13. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Feb 15: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 15 Feb 2018 09:30 GMT

    USD/JPY - 106.57
    Despite the greenback's selloff below yesterday's low at 107.41 to a fresh 15-month trough at 106.84 on broad-based buying yen, current rebound suggests medium-term decline has made a temporary low there and choppy trading with upside bias would be seen for retracement to 107.90, however, 108.05/10 should remain intact and yield another fall later today or early tomorrow.

    On the upside, only above 108.05 would confirm a bottom has been made and risk stronger correction towards 108.44/50 before prospect of retreat.

    After yesterday's key U.S. inflation data and retail sales, we have initial jobless claims, New York Empire Sate mfg index, Philly Fed mfg survey, final PPI, industrial production, manufacturing output and NAHB Housing Market index.
     

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