AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Jun 2018 10:30 GMT

USD/JPY - 110.12
Despite rising to 110.76 in Asia yesterday, subsequent selloff to 109.85 in New York on falling U.S. Treasury yields suggests choppy trading below last week's high at 110.90 would continue with downside bias for weakness to 109.55, break would extend decline to 109.20.

On the upside, only above 110.75 would indicate pullback has ended instead and risks re-test of 110.90.

Today is PMI day where the U.S. will release Markit mfg & services PMI at 13:45GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Jun 2018 5:30 GMT

EUR/USD - 1.1659
Euro's resumption of near term upmove from last Thursday's 11-month bottom at 1.1509 to as high as 1.1675 (Europe) on Friday suggests Medium Term downtrend has made a temp. low and consolidation with upside bias remains for gain to 1.1700, loss of upward momentum should limit upside to 1.1726 and yield subsequent retreat.

On the downside, only a daily close below 1.1600 signals 1st leg of correction over and risk stronger retracement to 1.1571/76.

Data out on Monday:
Japan coincident indicator, leading economic index.
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. building permits, national activity index, new home sales, Dallas Fed manufacturing business index.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jun 2018 5:20 GMT

EUR/USD - 1.1706
Euro's rise above last Friday's 1.1675 high to 1.1713 in New York yesterday suggests medium term decline from February's 38-month peak at 1.2555 has made a temporary low at last Thursday's trough at 1.1509 and consolidation with upside bias is seen for gain towards 1.1726 but loss of momentum should cap price at 1.1752 and yield retreat.

On the downside, only below 1.1618 signals recovery has ended and risks weakness towards 1.1600, then 1.1587.

Data to be released on Tuesday :
U.K. BBA mortgage approvals, CBI distributive, and U.S. redbook, CS home price, consumer confidence, Richmond Fed manufacturing index

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jun 2018 5:30 GMT

EUR/USD - 1.1652
Despite euro's rise to a fresh 10-day high at 1.1720 in Asia yesterday, subsequent decline to 1.1635 in New York afternoon suggests recovery from last Thursday's 11-month trough at 1.1509 has ended there and consolidation with downside bias is seen for weakness towards 1.1614 (50% r) before prospect of a rebound.

On the upside, only above 1.1685 (New York high) signals pullback has ended, risks gain towards 1.1720/26, then 1.1752.

Data out later today
France consumer confidence, Italy business confidence, consumer confidence, Swiss ZEW investor sentiment, Italy trade balance, producer prices.
U.S. MBA mortgage application, durable goods, goods trade balance, wholesale inventories, pending home sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2018 5:30 GMT

EUR/USD - 1.1561
Yesterday's selloff to 1.1541 in New York session strongly suggest euro's correction from last Thursday's 11-month bottom at 1.1509 has ended at 1.1720 on Tuesday and downside bias remains for weakness towards 1.1509 but only break of 1.1500 needed to extend Medium Term downtrend to 1.1450/60.

On the upside, only above 1.1629/35 (previous sup area, now res) would prolong choppy consolidation and risk another rise back towards 1.1685.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Jun 2018 4:15 GMT

EUR/USD - 1.1570
Although yesterday's rebound from 1.1528 (Europe) to 1.1600 in New York suggests further volatile trading above last Thursday's 11-month bottom at 1.1509 would continue, as long as 1.1629/35 (previous sup area, now res) holds, re-test of 1.1509 is still envisaged, below 1.1500 needed to extend to 1.1470/80.

Only above 1.1635 would risk another rise to 1.1672 but this week's high at 1.1720 should remain intact.

Data to be released on Friday:
U.K. GfK consumer confidence, GDP, current account, Germany retail sales, unemployment change, unemployment rate, France consumer spending, CPI (EU norm), producer prices, Swiss KOF indicator, EU HICP.
Canada GDP, producer prices, and U.S. personal income, personal spending, PCE price index, Chicago PMI, University of Michigan sentiment.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Jul 2018 5:30 GMT

EUR/USD - 1.1640
Despite yesterday's intra-day decline from 1.1697 (New Zealand) to as low as 1.1591 in New York morning on market jitters over a potential split in German coalition, subsequent bounce near New York close after a compromise deal of EU migration was reached has retained bullishness and upmove from last week's 1.1527 low may head to 1.1720, break would encourage for stronger correction towards 1.1750.

Only below 1.1591 may risk weakness towards 1.1552 before prospect of rebound.

Data to be released on Tuesday :
France budget balance, UK Markit construction PMI, EU producer prices, retail sales.
Canada Markit manufacturing PMI, and U.S. redbook, ISM New York index, durable goods, durables ex-defense, durables ex-transport, factory orders.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jul 2018 6:00 GMT

EUR/USD - 1.1665
Euro's expected gain to 1.1673 yesterdays suggests early pullback from 1.1697 (Mon) has ended at 1.1591 (Monday) and consolidation with upside bias is seen for gain towards last week's high at 1.1720, break would extend upmove from June's 11-month trough at 1.1509 towards 1.1750 later.

On the downside, only below 1.1621 prolongs choppy sideways swings, however, reckon sup at 1.1591 should remain intact and yield another rise later this week.

Data to be released on Wednesday :
U.K. BRC retail sales, Markit services PMI, Italy Markit services PMI, France Markit services PMI, Germany Markit services PMI, and EU Markit services PMI.
U.S. market holiday.

 

[AceTRaderForex]

AceTraderFx Jul 04: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jul 2018 9:30 GMT

USD/JPY - 110.53
Although price has retreated after yesterday's break of Monday's high at 111.06 to 111.14 in Asia and minor consolidation would be seen, as said move signals erratic upmove from May's trough at 108.12 has resumed, upside bias is retained and above said resistance would extend marginally.
However, May's peak at 111.40 should hold on first testing and yield retreat later.

On the downside, only below 109.55 would indicate a temporary top has been made, risk stronger retracement towards 109.37/40 before prospect of rebound.

U.S. markets are closed for Independence Day holiday, so no U.S. eco. data is due out n trading may thin out near European close.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jul 2018 6:00 GMT

EUR/USD - 1.1661
Despite yesterday's intra-day broad sideways swings, as euro's erratic rise from this week's low at 1.1591 (Tuesday) to 1.1682 yesterday suggests early pullback from 1.1697 (Monday) has ended there, consolidation with upside bias remains for gain towards last week's high at 1.1720.

On the downside, only below sup area at 1.1621/31 would prolong choppy consolidation until release of Friday's key U.S. jobs data, however, reckon 1.1591 would remain intact.

On the data front, the only eco. data due out is Germany's industrial order.
There are a number of ECB official delivering speeches, please refer to our EI page for details.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jul 2018 5:30 GMT

EUR/USD - 1.1693
Yesterday's initial rally to 1.1711 in Europe on upbeat German data and then re-test of last week's high at 1.1720 bodes well for upmove from Jun's 11-month trough at 1.1509 to head to 1.1750 after consolidation.

As long as 1.1650 holds, upside bias remains and only below said sup would risk stronger retracement to 1.1621 but reckon 1.15941 should remain intact.

Data to be released on Friday :
Germany industrial output, France current account, trade balance, imports, exports, UK Halifax house prices, Italy retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, goods trade balance, and Canada employment change, unemployment rate, trade balance, exports, imports, Ivey PMI

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jul 2018 5:30 GMT

EUR/USD - 1.1754
Euro's expected resumption of recent upmove to a 3-week high of 1.1768 in post-NFP New York on Fri suggests upside bias remains for price to head to 1.1800/10 after consolidation, however, loss of upward momentum is likely to prevent strong gain and reckon key daily res at 1.1852 should remain intact.

On the downside, below 1.1697 (previous res, now sup) anytime signals temporary top is in place and may risk stronger retracement towards 1.1650 later this week.

On the eco. data front, Germany will kick off with export, import data, trade balance n current account, the EU will release Sentix investor sentiment.
A number of ECB heavyweights will be speaking today starting with ECB Chief Economist Praet at 07:00GMT, then ECB Presisent who will speak at 13:00GMT and then 15:00GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jul 2018 5:40 GMT

EUR/USD - 1.1757
Although yesterday's 'cable-led' decline from a fresh 3-week high at 1.1791 to 1.1732 in New York suggests recent erratic upmove has made a temporary top and consolidation is in store, as long as 1.1697 (previous. res, now sup) holds, prospect of marginal gain is still envisaged, loss of momentum should cap price below key daily res at 1.185 this week.

A daily close below 1.1697 would risk stronger retracement of recent rise to 1.1650 before prospect of rebound

Data to be released on Tuesday:
France industrial output, Italy industrial output, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW economic sentiment.
Canada housing starts, building permits, and U.S. redbook, JOLTS job openings.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jul 2018 9:30 GMT

USD/JPY - 111.07
The greenback's rally yesterday on dollar's broad-based strength and intra-day break of last week's high at 111.14 to 111.20 suggests a re-test of May's 3-month peak at 111.40 is forthcoming, break would extend medium-term rise from March's low at 104.57 towards 111.79/80 later.
However, over bought condition would keep price below 112.00/10 and yield a much-needed correction later.

On the downside, only below 110.55 would indicate a temporary top has been made and risk stronger retracement towards 110.28/30.

On the data front, U.S. will release some 3rd-tier eco. data starting with Redbook retails sales n then JOLTS job openings, so these data should go unnoticed.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jul 2018 6:00 GMT

EUR/USD - 1.1731
Although yesterday's decline to 1.1690 (Europe) confirms recent strong upmove has made a temporary top at Mon's 3-week peak of 1.1791, subsequent rebound to 1.1749 in New York on short covering suggests sideways trading is in store.

Below 1.1690 would bring stronger retracement to 1.1650/60 before prospect of rebound whilst above 1.1763/68 signals pullback from 1.1791 has ended and yields re-test of 1.1791.

EZ data is due out today, however, we have a number of key ECB officials including ECB President Draghi speaking during European morning, please refer to our EI section for details of speaker.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jul 2018 5:30 GMT

EUR/USD - 1.1676
Yesterday's break of Tuesday's 1.1690 low to 1.1666 in New York due to broad-based usd's strength suggests decline from 1.1791 (Monday) to retrace recent upmove from June's 11-month trough at 1.1509 has resumed and would pressure price to 1.1625/30, oversold condition should keep price well above last week's low at 1.1591.

On the upside, only above res at 1.1758/63 signals pullback is over and risks re-test of 1.1791 later.

On the data front, Germany will kick off with Germany's final CPI, then the same from France, then EU's industrial prod. and later minutes of previous ECB monetary policy meeting.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jul 2018 5:30 GMT

EUR/USD - 1.1664
Although euro's intra-day weakness after yesterday's rebound from 1.1650 to 1.1696 suggests erratic decline from Monday's 3-week high at 1.1791 to retrace recent upmove would extend to 1.1630, loss of downward momentum should keep price well above last week's low at 1.1591 and bring rebound later today or Monday.

On the upside, a daily close above 1.1696 would be the 1st signal said retreat from 1.1791 has ended would outlook would improve for subsequent headway towards 1.1758.

Data to be released on Friday :
Germany wholesale price, France nonfarm payrolls, Swiss producer/import price, and U.S. import prices, export prices, University of Michigan sentiment.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jul 2018 9:30 GMT

USD/JPY - 112.76
The greenback's rally yesterday on dollar's broad-based strength to 112.62, then intra-day break of this resistance to a 6-month peak at 112.79 suggests medium-term rise from March's low at 104.57 remains in progress and further gain towards 113.00/10 later.
However, over bought condition would keep price below 113.28/30 and yield a much-needed correction early next week.

On the downside, only below 111.40 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 111.01/10 but support at 110.77 should remain intact, yield rebound.

U.S. will release some 2nd-tier eco. data starting with import and export prices and then July University of Michigan consumer confidence. Atlanta Fed President Bostic (voter) will be speaking at 16:30GMT later in the day.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jul 2018 5:30 GMT

EUR/USD - 1.1682
Friday's rally to 1.1688 after extending decline from Monday's 3-week high of 1.1791 to retrace early up-move from June's 11-month trough at 1.1509 to 1.1613 suggests said correction is possibly made.
above 1.1696/00 would encourage for gain towards 1.1758 later.

Reinstate long on dips for 1.1735 and only below 1.1631 may risk 'one more' fall towards 1.1591.

On the data front, Italy will release trade balance n the the same from the EU.

 

[AceTRaderForex]

AceTraderFx Jul 16: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jul 2018 9:30 GMT

USD/JPY - 112.45
The greenback's rally last week on dollar's broad-based strength to a fresh 6-month peak at 112.79 Friday suggests medium-term rise from March's low at 104.57 remains in progress and consolidation with upside bias remains for further gain towards 113.00/10 late.
However, over bought condition would keep price below 113.28/30 and yield a much-needed correction later this week.

On the downside, only below 111.40 would indicate a temporary top has been made and risk would increase for a stronger retracement towards 111.01/10 but support at 110.77 should remain intact, yield rebound.

Data out today:
UK Rightmove house price, Japan market holiday, Italy trade balance, global trade balance, EU trade balance, and U.S. New York Fed manufacturing index, retail sales, business inventories.