AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2018 05:30 GMT

EUR/USD - 1.2330
Although euro's intra-day decline on Thur initially due to downbeat EZ data and then selloff to 1.2300 in New York morning after dovish ECB minutes suggests early upmove from last Friday's 1-month trough at 1.2215 has made a temp. top at 1.2397 (Wednesday), subsequent rebound would bring consolidation.

As long as 1.2280/90 holds, prospect of another bounce twd 1.2397 remains and only below 1.2280 risks stronger retracement to 1.2260 but 1.2215 sup should remain intact.

Data to be released on Friday:
Germany CPI, HICP, EU trade balance, and U.S. JOLTS job openings, University of Michigan sentiment

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2018 09:30 GMT

USD/JPY - 107.57
Dollar's intra-day rally and subsequent break of last week's 1-month peak at 107.49 signals medium-term rise from 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 107.68/70 would be seen after consolidation, h.
However, over bought condition would keep price below 108.28/30 and yield a much-needed correction.

On the downside, only below 106.41 would indicate upmove from March's trough at 104.57 has ended there and instead and turn outlook bearish for a stronger retracement to 106.03.

T.G.I.F., U.S. eco. calendar is pretty light today with JOLTS jobs openings n University of Michigan consumer confidence being the only data due out during NY morning. However, we have a no. of Fed officials delivering speeches, they are in order of appearance, Boston Fed's Rosengren, St. Louis Fed's Bullard n Dallas Fed's Kaplan.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Apr 2018 06:30 GMT

EUR/USD - 1.2332
Although euro has shown muted reaction to U.S./allied missile strikes on Syria in early trading on Monday, as long as sup at 1.2300 holds, consolidation with upside bias remains and above 1.2370/80 would encourage for re-test of last week's high at 1.2397 (Wed).

Only below 1.2300 risks stronger retracement of euro's recent rise from March's 1.2215 bottom, however, reckon sup at 1.2260 would contain weakness.

Eco. calendar is very light with Germany Mar wholesale price index being the only release due out at 06:00GMT. Later today, ECB Board member Praet will make a keynote dinner speech at the 2018 NABE International Symposium in Madrid, Spain.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 Apr 2018 05:30 GMT

EUR/USD - 1.2387
Euro's intra-day rally from 1.2324 (Asia) to 1.2395 in New York on Monday due to usd's broad-based weakness suggests early pullback from last week's high at 1.2397 has ended at 1.2300 (Thursday) and gain to 1.2440/45 is envisaged after consolidation.
Overbought readings on hourly indicators should cap price below March's peak at 1.2477.

Only below 1.2324 prolongs choppy consolidation and may risk weakness towards 1.2300.

On the data front, Italy will kick off with final CPI, Germany's will release ZEW eco. sentiment n current conditions, then EU's ZEW eco. sentiment and finally Italy's trade balance. German FinMin Scholz will speak at 0830GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Apr 2018 05:30 GMT

EUR/USD - 1.2370
Despite euro's initial gain to a near 3-week high of 1.2414 in European morning, as intra-day selloff in cable had led to broad-based usd's rally in New York and knocked price to 1.2337 signals temp. top has been made and choppy range trading with downside bias is seen for another corrective fall, reckon sup at 1.2300 would remain intact and yield another rise later this week.

Above 1.2414 would extend upmove from 1.2215 towards 1.2446.
However, loss of upward momentum should cap price below 1.2477.

Data to be released on Wednesday :
Japan exports, imports, trade balance, China house price.
Germany wholesale price index, Italy industrial orders, industrial sales, U.K. DCLG house price index, core CPI, CPI, RPI, core RPI, PPI input, PPI output, PPI core output, EU HICP final, core HICP.
Canada BoC rate decision, and U.S. MBA mortgage application

 

[AceTRaderForex]

AceTraderFx Apr 18: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 18 Apr 2018 09:30 GMT

USD/JPY - 107.32
Dollar's intra-day rally and subsequent break of April's 1-month peak at 107.49 to 107.78 last Friday signals medium-term rise from 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 107.90/95.
However, over bought condition would prevent sharp rise beyond there and keep price below 108.28/30 and yield a much-needed correction later this week.

On the downside, only below 106.41 would indicate upmove from March's trough at 104.57 has ended there and instead and turn outlook bearish for a stronger retracement to 106.03.

No major U.S. eco. data is due out today except Fed beige book at 18:00GMT.
Today, we have more Fed officials delivering speeches starting with New York Fed Dudley at 12:30GMT, then again at 19:00GMT, after that, we have Fed's Quarles at at 20:15GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2018 05:30 GMT

EUR/USD - 1.2375
Although yesterday's rally to 1.2397 signals euro's 1st leg of correction from Tuesday's 2-week high at 1.2414 has ended at 1.2337, as long as 1.2397 holds, choppy sideways swings would continue before another fell to 1.2300/10.

Above 1.2397 would bring re-test of 1.2414, however, loss of upward momentum should cap price below March's peak at 1.2477 this week.

Data to be released on Thursday:
New Zealand CPI, Australia Westpac leading index, employment change, unemployment rate, Japan tertiary industry index, EU current account, U.K. retail sales, core retail sales, initial jobless claims, leading indicator, and Canada ADP employment change

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major

Update Time: 20 Apr 2018 05:30 GMT

EUR/USD - 1.2338
Although yesterday's erratic rise to 1.2400 signals euro's 1st leg of correction from Tuesday's 2-week high at 1.2414 has ended at 1.2337, subsequent selloff to 1.2229 on broad-based usd's strength in New York suggests choppy sideways swings would continue and may head to 1.2300/10 before rebound.

Only above 1.2400 would risk re-test of 1.2414, however, loss of upward momentum should cap price below 1.2446.

On the data front, Germany will release producer price index n the later in New York, we have EU's consumer confidence. German FinMin Scolz and ECB Board member Weidmann will speak at 11:30GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Apr 2018 05:30 GMT

EUR/USD - 1.2266
Friday's weakness to 1.2250 due to rising U.S. yields and renewed usd's strength suggests decline from last week's high at 1.2414 would resume after consolidation, near term loss of downward momentum should prevent steep drop and reckon April's bottom at 1.2215 would remain intact, bring subsequent rebound.

On the upside, only above 1.2324/29 (previous sup, now res) would signal said fall has made a low and risk stronger gain to 1.2353/58 but 1.2395/00 should cap upside.

Today is PMI day in the euro area countries, France will kick off with Markit mfg and services PMIs, then the same from Germany and then the EU. Germany will release Bundesbank monthly report and ECB Executive Board member Coeure will participate in a financial conference in Frankfurt at 14:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Apr 2018 05:30 GMT

EUR/USD - 1.2211
Yesterday's daily close below previous Apr's 1.2215 low suggests a 'downside break' of recent broad sideways trading inside 1.2555-1.2155 has possibly taken place and as long as 1.2245/50 holds, downside bias remains for weakness towards 1.2155 but on a break there would extend subsequent decline to 1.2093.

On the upside, above 1.2250 would prolong aforesaid volatile trading and yield another rise to 1.290/00.

Data out on Tuesday :
Australia CPI, Japan leading economic index, coincident index.
Swiss trade balance, export, import, France business climate, Germany Ifo business climate, current conditions, expectations, Italy business confidence, consumer confidence, trade balance non-EU, U.K. PSNB, PSNCR, CBI industrial trends survey.
U.S. building permits, redbook, monthly home price, Case-Shiller home price, consumer confidence, new home sales, Richmond Fed manufacturing

 

[AceTRaderForex]

AceTraderFx Apr 24: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Apr 2018 09:30 GMT

USD/JPY - 108.85
Dollar's intra-day break of last Friday's 7-week peak at 107.86 yesterday signals upmove from March's trough at 104.57 has once again resumed and consolidation with upside bias remains for further gain towards 108.95/00.
However, loss of momentum would prevent sharp move beyond there and reckon 109.20/30 would remain intact and yield a much-needed correction later this week.

On the downside, only below 107.10 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 106.62 later.

U.S. will release a slew of eco. data starting with building permits, Redbook sales, monthly home prices, CaseShiller home price, new home sales, consumer confidence n Richmond Fed mfg index.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2018 05:30 GMT

EUR/USD - 1.2230
Although euro's rebound from Tuesday's fresh 7-week trough of 1.2182 (Europe) suggests recent decline has made a temporary low, as 1.2245 in New York has checked intra-day gain, bearishness is retained for marginal weakness.
However, loss of downward momentum should keep price well above key sup at 1.2155 (March low) today.

On the upside, a daily close above 1.2250 would confirm recent fall from 1.2414 has made a low, then risk is seen for a stronger retracement to 1.2300/10.

Data to be released on Wednesday:
New Zealand market holiday, Australia market holiday, France consumer confidence, Swiss ZEW investor sentiment, and U.S. MBA mortgage application

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2018 05:30 GMT

EUR/USD - 1.2173
Euro's intra-day recovery after yesterday's resumption of recent decline to a fresh 7-week trough at 1.2160 (New York) suggests sideways trading may be seen above key daily sup at 1.2155 (March low) ahead of ECB's rate decision.
As long as 1.2218/20 holds, re-test of 1.2155 is likely but a firm break there needed to extend subsequent weakness towards 1.2093.

On the upside, above 1.2220 signals temporary low is made and would risk stronger retracement to 1.2250, break, 1.2300.

Ahead of ECB announcement at 11:45GMT and presser at 12:30GMT, Germany will release Gfk May consumer confidence.
Then at 16:20GMT, ECB's Nouy will speak at a conference

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2018 05:30 GMT

EUR/USD - 1.2105
Euro's selloff below previous key daily sup at 1.2155 (March bottom) to a 3-month trough of 1.2098 in post-ECB presser yesterday confirms decline from 2018 3-year peak at 1.255 (February) has once again resumed and price would head to next downside retracement obj. at 1.2054.
However, near term oversold condition should keep the pair above psychological sup at 1.2000.

On the upside, only above 1.2210 signals temporary low has been made instead and risks stronger retracement to 1.2245/50 before prospect of another fall next week.

Data to be released later on Friday:
France GDP preliminary, consumer spending, CPI (EU norm), producer prices, Germany unemployment change, unemployment rate, import, Italy producer prices, U.K. GDP, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. GDP annualized, GDP deflator, core PCE price, PCE price, labor costs, University of Michigan sentiment, and Canada budget balance.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2018 09:30 GMT

USD/JPY - 109.36
Dollar's intra-day brief break above yesterday's 10-week high confirms recent upmove has once again resumed and would head to 109.90/00, loss of upward momentum should cap price below 110.24 and risk has increased for a correction to take place on Monday.

Only a daily close below 109.07 signals temporary top is made and risks stronger retracement to 108.70/75, reckon sup at 108.55 would contain weakness.

U.S. will release some important eco. data, so pay attention to prel. Q1 GDP, core PCE n employment cost at 12:30GMT (if actual readings are in line with street forecasts and slightly above, the greenback will rise), then University of Michigan consumer confidence at 14:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Apr 2018 05:30 GMT

EUR/USD - 1.2121
Although euro's short-covering rebound from Friday's fresh 3-month trough of 1.2056 to 1.2133 in New York session suggests recent downtrend has made a temporary low, as long as 1.2155 (previous sup, now res) holds, re-test of said sup is still envisaged, however, loss of downward momentum should keep price above 1.2000.

Only a daily close above 1.2155 confirms temporary low is in place, then risk is seen for stronger retracement towards 1.2200.

On the eco. data front, Germany will kick off with retail sales followed by Italy's CPI, and then the same from Germany.

 

[stellaross]

Daily Recommendations on Major - EUR/USD
EUR/USD - 1.2121
Although euro's short-covering rebound from Friday's fresh 3-month trough of 1.2056 to 1.2133 in New York session suggests recent downtrend has made a temporary low, as long as 1.2155 holds, re-test of said sup is still envisaged, however, loss of downward momentum should keep price above 1.2000.

by- FX Street

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Apr 2018 09:30 GMT

USD/JPY - 109.27
Although price has retreated after Friday's rise to a fresh 10-week peak at 109.54 on dollar's broad-based strength and minor consolidation would be seen, as said move signals upmove from March's trough at 104.57 has resumed.
Upside bias remains and above said resistance would extend marginally. However, loss of momentum would keep price below 110.00 and yield a much-needed correction later.

On the downside, only below 108.55 would indicate a temporary top has been made and risk a stronger retracement towards 107.90 before prospect of rebound.

U.S. will release of a slew of eco. data starting with Mar core CPI, personal income and spending, Chicago PMI, pending home sales abd Dallas Fed mfg index.

 

[AceTRaderForex]

AceTraderFx May 02: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 02 May 2018 06:00 GMT

EUR/USD - 1.1997
Yesterday's selloff below last Fri's 1.2056 low (now res) to a fresh 3-/12 month trough of 1.1982 in holiday-thinned New York session suggests recent downtrend would resume after consolidation before extending to 1.1940/50.
However, reckon 2018 bottom at 1.1916 (January low) should remain intact.

On the upside, only a daily close above 1.2056 signals temporary low is made and risk stronger retracement to 1.2100/10 later.

Data out later on Wednesday :
Swiss consumer confidence, retail sales, manufacturing PMI, Italy Markit manufacturing PMI, unemployment rate, GDP preliminary, France Markit manufacturing PMI, Germany Markit manufacturing PMI, EU Markit manufacturing PMI, GDP, unemployment rate, U.K. Markit manufacturing PMI,
U.S. MBA mortgage app, ADP employment change, ISM New York index, Fed interest rate decision.

 

[AceTRaderForex]

AceTraderFx May 02: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 02 May 2018 09:30 GMT

USD/JPY - 109.82
Despite dollar's intra-day sideways swings after retreating from an 11-week high of 109.92 (AUS) and minor consolidation is expected, outlook remains mildly bullish for recent upmove to head to 110.20/25.
However, loss of upward momentum should cap price below 110.48 and yield a much-needed correction.

Only a daily close below 109.52 (Tuesday's New York low) confirms temporary top is in place and risks stronger retracement to 108.96/00 before prospect of a rebound later this week.

On the eco. data front, U.S. will release MBA Mortgage applications, then the key ADp private payrolls, ISM New York index and then FOMC rate decision and statement at 18:00GMT, as there is no presser after the meeting, market expects no change in Fed's monetary policy until next June 12-13 meeting.