AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Aug 2018 09:30 GMT

USD/JPY - 110.96
The greenback's intra-day selloff on broad-based buying of yen and subsequent break of last Friday's low at 111.10 suggests early correction from 110.59 has ended at 112.15 last Monday and consolidation with downside bias remains for decline from July's 6-month peak at 113.17 to resume and yield re-test of said support, break would extend towards 110.28/30 later but loss of momentum would keep price above 109.90/00.

On the upside, only above 111.47/53 would indicate a temporary low has been made instead and risk would increase for a stronger retracement towards 111.88/90.

Data to be released on Wednesday :
Japan current account, trade balance, eco watchers current, eco watchers outlook, Australia Westpac consumer sentiment, China exports, imports, trade balance, U.S. MBA mortgage applications, and Canada building permits.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1609
Despite euro's intra-day retreat from 1.1628 to 1.1573 on Wednesday, subsequent rebound to 1.1620 in New York due to usd's weakness suggests initial sideways swings are in store, firm rise above 1.1628/32 would extend upmove from Monday's 1-month trough at 1.1530 towards 1.1674 later.

On the downside, a daily close below 1.1573 signals correction over and would bring re-test of 1.1530, then weakness to June's 11-month bottom at 1.1509.

Although no eco. data is due out fm euro area countries today, the EU will release economic bulletin at 08:00GMT.

 

[AceTRaderForex]

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

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

USD/JPY - 111.08
The greenback's intra-day selloff on broad-based buying of yen and subsequent break yesterday's low at 110.84 suggests early correction from 110.59 has ended at 112.15 last Monday and consolidation with downside bias remains for decline from July's 6-month peak at 113.17 to resume and yield re-test of said support, break would extend towards 110.28/30 later but loss of momentum would keep price above 109.90/00.

On the upside, only above 111.47/53 would indicate a temporary low has been made instead and risk would increase for a stronger retracement towards 111.88/90.

Data to be released on Thursday :
New Zealand RBNZ interest rate decision, UK RICS housing price balance, NIESR GDP estimate, Japan machinery orders, machine tool orders, China PPI, CPI, Swiss unemployment rate, Canada housing starts, new housing price index, and U.S. initial jobless claims, PPI, core PPI, wholesale inventories, wholesale sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Aug 2018 5:30 GMT

EUR/USD - 1.1531
Despite yesterday's initial intra-day sideways swings, euro's selloff in New York session due to renewed usd's strength and then subsequent break of Monday's 1-month low at 1.1530 to 1.1517 today suggests re-test of June's 11-month bottom is on the cards where a break of 1.1500 level would extend Medium Term downtrend towards 1.1448 target early next week.

On the upside, only a daily close above 1.1573 signals temporary low is made and risks 1.1610/20.

Data to be released on Friday :
New Zealand manufacturing PMI, retail sales, Japan corporate goods price, GDP, tertiary industry index, France industrial output, .
Italy trade balance, global trade balance, UK GDP, industrial output, manufacturing output, construction output, trade balance.
U.S. CPI, core CPI, real weekly earnings, Federal budget, and Canada employment change, unemployment rate.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1378
Euro's initial breach below Friday's 1.1388 low to a 13-month trough at 1.1368 (New Zealand) due to renewed fall in the Turkish lira to fresh record lows suggests Medium Term downtrend would head to 1.1310/20 after consolidation, oversold condition is likely to prevent steep drop and risk has increased for a correction to occur.

A move above 1.1428 signals temp. bottom is made and yield stronger recovery, however, reckon 1.1481 should cap upside and yield another fall later today or tomorrow.

On the eco. data front, Italy is the only euro area country releasing July CPI, so all eyes are on the TRY during European morning.

 

[AceTRaderForex]

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

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

USD/JPY - 110.21
Although the greenback opened lower and dropped to 110.36 in New Zealand on risk aversion, price staged a rebound to 110.75 in Australia on liquidity boost by the Turkish central bank.
However, renewed selling there knocked price lower and dollar tumbled to a session low at 110.11 in Asian on continued concerns over the Turkish lira before stabilising.

On the upside, only above 110.75 would indicate decline from July's fresh 6-month peak at 113.17 has made a temporary low there and risk would increase for a much-needed correction to 111.19/20, then 111.47.

Data to be released:
France non-farm payrolls, and Italy CPI, CPI (EU norm) on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2018 6:30 GMT

EUR/USD - 1.1408
Although euro's rebound from Mon's near 13-month trough at 1.1365 (Asia) to 1.1433 on short covering following recovery in the Turkish lira in New York suggests range trading is in store, as long as 1.1470/80 holds.
Outlook remains mildly bearish for marginal weakness, loss of near term downward momentum should keep price above minor daily sup at 1.1313.

Only a daily close above 1.1509 (June's low, now res) confirms temporary low has been formed and risks stronger retracement towards 1.1548 later this week.

The euro area countries will release a slew of eco. data starting France's unemployment, Germany's flash GDP n final CPI, France's final CPI n Germany's ZEW eco. sentiment n current conditions.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2018 09:30 GMT

USD/JPY - 111.02
Despite the greenback's fall to 110.11 yesterday, subsequent rally to 111.14 today on easing of contagion fears from Turkish lira crisis suggests decline from July's 6-month peak at 113.17 has ended there and choppy trading with upside bias would be seen for gain towards 111.47/50.
However, loss of momentum would keep price below 111.88/90 and yield retreat later this week.

On the downside, only below 110.52 would indicate said recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.

Data to be released on Tuesday :
Japan industrial output, capacity utilization, France ILO unemployment rate, Germany GDP, CPI, HICP, France CPI, CPI (EU norm), ZEW economic sentiment, ZEW current conditions, Swiss producer/import price, UK claimant count, ILO unemployment rate, employment change, average weekly earnings, EU GDP, industrial production, ZEW economic sentiment.
U.S. import prices, export prices, Redbook sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Aug 2018 5:30 GMT

EUR/USD - 1.1342
Despite yesterday's rebound to 1.1429 in European morning due to sharp recovery in the Turkish lira, subsequent decline in New York on renewed usd's strength and then break of Mon's 1.1365 low to a fresh 13-month trough at 1.1330 suggests recent downtrend would head to 1.1300 after consolidation, near term loss of downward momentum would keep price above 1.1270/75.

Only above 1.1380/85 (previous sup, now res) signals temporary low is in place, then risk is seen for another corrective rise to 1.1429/33.

No eco. data is due out from the euro area countries as many financial centres are closed for Assumption Day holiday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Aug 2018 09:30 GMT

USD/JPY - 111.26
Despite the greenback's fall to 110.11 Monday, subsequent rally to 111.43 today on easing of contagion fears from Turkish lira crisis suggests decline from July's 6-month peak at 113.17 has ended there and choppy trading with upside bias would be seen for gain towards 111.88/90.
However, loss of momentum would keep price below 112.10/15 and yield retreat later this week.

On the downside, only below 110.52 would indicate said recovery has ended instead and turn outlook bearish for a re-test of aforesaid support.

Data to be released on Wednesday :
France market holiday, Italy market holiday, UK CPI, RPI, PPI input, PPI output, DCLG house price.
U.S. labor costs, productivity, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1348
Although euro's rebound from Wed's fresh 13-month trough at 1.1301 to 1.1355 on short covering in New York session suggests recent downtrend has made a temporary low and consolidation is in store, outlook remains mildly bearish for marginal weakness below 1.1300' loss of downward momentum should keep price above 1.1270/75.

On the upside, a daily close above 1.1365 would risk stronger correction to 1.1400, then later to 1.1429/33 before prospect of another fall next week.

Data to be released on Thursday :
Germany wholesale price index, UK retail sales, EU trade balance.
U.S. building permits, housing starts, initial jobless claims, Philadelphia Fed survey, and Canada manufacturing sales, ADP employment change.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1375
Euro's intra-day retreat from 1.1409 to 1.1348 in New York suggests first leg of correction from Wed's fresh 13-month bottom at 1.1301 has ended and sideways swings are in store before marginal gain towards res at 1.1433 but 1.1481 should cap upside.

Only a daily close below 1.1348 signals retracement is over and yields one more fall, however, 'loss of downward momentum' should limit weakness to 1.1270.

On the data front, the EU will release current account and then HICP and core HICP during European morning.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Aug 2018 6:00 GMT

EUR/USD - 1.1432
Despite euro's resumption of upmove from last Wednesday's 13-month bottom at 1.1301 to 1.1445 on short covering Friday, near term o/bot condition should cap price below 1.1481 and yield retreat, below 1.1375 would be the 1st signal correction is over and bring subsequent weakness towards 1.3348.

Only a daily close above 1.1481 would risk stronger retracement of Medium Term downtrend to 1.1500/09 before prospect of decline.

On the data front, Germany will kick off with July PPI, then Monthly Bundesbank report n EU will release construction production data. Later at 16:00GMT, Bundesbank President and ECB Governing Council Board member Jens Weidmann will deliver a speech in Frankfurt.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Aug 2018 5:30 GMT

EUR/USD - 1.1520
Euro's impressive rally to 1.1485 in New York afternoon due to Trump's usd-negative comments, then intra-day 'jump' above 1.1500 to 1.1542 confirms Medium Term downtrend has made a low at last week's 13-month trough at 1.1301 and expect consolidation before extending aforesaid rise to 1.1470/75, o/bot condition should cap price below key res at 1.1628.

On the downside, only below 1.1485 signals 1st leg of correction is over and may risk stronger retracement towards 1.1445 before prospect of rebound.

Data to be released on Tuesday :
Swiss trade balance, exports, imports, UK PSNB, PSNCR, CBI ind. trends survey, New Zealand GDT price index, Canada wholesales, and U.S. Redbook sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Aug 2018 5:30 GMT

EUR/USD - 1.1575
Euro's impressive rally to 1.1542 initially in Asia yesterday (now sup) and then subsequent gain to an 11-day high of 1.1600 in New York suggests recent strong rise from August's 13-month bottom at 1.1301 would head to next daily obj. at 1.1628.
However, o/bot condition would limit upside to 1.1650/60.

On the downside, only below 1.1542 signals aforesaid rise has made a temporary top and may risk stronger retracement towards 1.1500 before prospect of rebound later this week.

No economic data is due out from the euro area countries, so technical trading is likely to have stronger influence on intra-day price swings until New York open.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Aug 2018 5:30 GMT

EUR/USD - 1.1570
Although euro's intra-day retreat in Asia due to short covering in USD suggests recent strong upmove has made a temporary top at yesterday's near 2-week high at 1.1623 and choppy sideways swings are in store, reckon sup at 1.1553 would contain weakness and bring one more rise, 'loss of upward momentum' should cap price at 1.1670/80 today.

On the downside, only a daily close below 1.1542 signals 1st leg of correction from last Wednesday's 13-month bottom at 1.1301 has ended and risks stronger retracement towards 1.1300.

On the eco. data, euro area countries will release of alew of data starting with France's business climate, Marlit mfg and services PMIs, then the msae PMIs from Germany and the same from the EU. Bundesbank President will speak at 07:30GMT and later at 11:30GMT, ECB will release minutes of its last meeting which may cause price swings after the release.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1545
Yesterday's break below 1.1553 sup to 1.1530 (New York) due to usd's broad-based strength suggests euro's recent impressive rally from last Wednesday's 13-month bottom at 1.1301 has made a temp. top at 1.1623 (Wednesday) and consolidation with near term downside bias remains for weakness towards 1.1300 before prospect of rebound.
However, only above 1.1600 would head to 1.1623/28, loss of upward momentum should cap price at 1.1660/70.

On the downside, a daily close below 1.1493 would risk stronger retracement of aforesaid rise towards 1.1445.

Data to be released on Friday :
New Zealand imports, exports, trade balances, Japan national CPI, Germany GDP, France consumer confidence, UK BBA mortgage approvals, and U.S. durable goods. The annual Federal Reserve conference in Jackson Hole, Wyoming.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Aug 2018 10:00 GMT

USD/JPY - 111.43
Dollar's spectacular rally from Tuesday's 7-week low at 109.78 to 111.49 in Asia today on active yen-selling suggests recent decline from July's 6-month peak at 113.17 has made a temporary low and consolidation with upside bias remains for gain towards 111.88/96, but overbought condition should keep price below Aug's high at 112.15.

On the downside, only below 110.75/76 would indicate temporary top is made instead, risk weakness towards 110.50/55, then 110.20/25.

Data to be released on Friday :
Germany GDP, France consumer confidence, UK BBA mortgage approvals.
U.S. durable goods. The annual Federal Reserve conference in Jackson Hole, Wyoming.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1627
Despite euro's rally in NY on Fri to a 3-week high of 1.1640 after Fed J. Powell's prepared Jackson Hole speech, then initial gain to 1.1654 ahead of Asian open, loss of upward momentum is expected to limit upside to 1.1670/80 and risk has increased for a much-needed retracement of recent upmove to occur later today.

On the downside, a firm break of 1.1600 would signal temporary top is in place and yield stronger pullback to 1.1555 but reckon sup at 1.1530 would remain intact.

Data front: Germany Ifo business climate, Ifo current conditions, Ifo expectations.
And U.S. national activity index, Dallas Fed manufacturing business index.

 

[AceTRaderForex]

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

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

USD/JPY - 111.17
The greenback's rally from last Tuesday's 7-week low at 109.78 to 111.49 Friday on active yen-selling suggests recent decline from July's 6-month peak at 113.17 has made a temporary low there and consolidation with upside bias remains for gain towards 111.88/96 but overbought condition should keep price below Aug's high at 112.15 and yield retreat later this week.

On the downside, only below 110.75/76 would indicate temporary top is made instead, risk weakness towards 110.50/55, then 110.20/25.

After Friday's blockbuster Fed's annual symposium in Jackson Hole, U.S. will later release Chicago Fed national activity index and then Dallas Fed mfg business index.