AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Nov 2018 06:30 GMT

EUR/USD - 1.1330
As yesterday's intra-day roller-coaster moves ended with euro falling from 1.1384 (Europe) to 1.1324 near New York close following ECB Draghi's mildly dovish comments in New York and usd's renewed strength, suggesting erratic fall from last week's 1.1472 high would pressure price to 1.1300, loss of momentum should keep euro above pivotal sup at 1.1271.

On the upside, only a daily close above 1.1384 signals correction is over and heads back towards 1.1434 later this week.

The euro area countries will release a slew of eco. data starting with Germany's import price index, France's consumer confidence n PPI then Italy's business n consumer confidence. We also have ECB Board members Nouy and Mersch speaking at 15:00GMT n 16:00GMT respectively.

 

[AceTRaderForex]

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

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

USD/JPY - 113.57
Despite the greenback's fall to 112.31 last week on broad-based buying of the yen, subsequent strong rebound suggests decline from last Monday's 5-week peak at 114.21 has made a temporary low there and consolidation with upside bias remains for stronger retracement, however, resistance at 114.01 should remain intact and yield retreat later this week.

On the downside, only below 112.31 would revive bearishness for weakness towards 112.19 but near term loss of momentum would keep price above 111.92 and yield rebound.

Data to be released on Tuesday :
Germany import price index, France consumer confidence, producer prices, Italy business confidence, consumer confidence, UK CBI trades, U.S. redbook, monthly home price, CS home price and consumer confidence.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Nov 2018 05:00 GMT

EUR/USD - 1.1292
Although yesterday's resumption of recent erratic decline to an 11-day trough of 1.1278 in New York and intra-day softness suggests intra-day downside bias remains for marginal fall after consolidation, lots of downward momentum should keep euro well above Nov's 16-month bottom at 1.1216 and bring rebound later today or tomorrow.

On the upside, a daily close above 1.1344 would be the 1st signal decline from 1.1472 has made a low and would head towards 1.1384 later this week.

On the data front, Germany will kick off with Gfk consumer confidence, then France's PPI n Italy's OOI. We have a no of ECB officials speaking in Europea morning, pls refer to our EI section for details.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Dec 2018 05:20 GMT

EUR/USD - 1.1339
Despite euro's rally from last week's 1.1267 low to 1.1402 (Thursday), subsequent weakness to 1.1305 on Friday suggests choppy sideways swings are likely to continue.

Intra-day retreat after initial higher open to 1.1368 on temp. ceasefire of US/China trade dispute would bring consolidation, above 1.1368 would encourage for a move back towards 1.1402 whilst below 1.1305 may risk weakness towards 1.1267.

Today is PMI day in the euro area countries, please refer to our EI section for details of eco. releases. The Eurogroup is meeting today where ECB's Draghi n Coure will participate, also, euro FinMins are meeting in Brussels, so keep a eye n ears open for comments by the officials.

 

[AceTRaderForex]

AceTraderFx Dec 03 : Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 03 Dec 2018 09:30 GMT

USD/JPY - 113.49
Dollar's intra-day gap-up open to 113.85 in New Zealand on active yen selling due to trade optimism after U.S. and China had agreed to halt tariffs for 90 days suggests pullback from last Wednesday's 2-week peak at 144.04 has ended at 133.20 (Thursday), subsequent retreat would bring consolidation before another rise, above 144.04 would re-test November's top at 144.21, then towards 144.55 (Oct's high).

Only below 113.20 would dampen bullish view and risk weakness to 112.88/89, then 112.66 but 112.31 should hold.

Data to be later today:
Swiss retail sales, manufacturing PMI, Italy Markit manufacturing PMI, France Markit manufacturing PMI, Germany Markit manufacturing PMI, EU Markit manufacturing PMI, UK Markit manufacturing PMI.
Canada Markit manufacturing PMI, and U.S. Markit manufacturing PMI, construction spending, ISM manufacturing PMI.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Dec 2018 05:30 GMT

EUR/USD - 1.1354
Despite euro's decline from 1.1402 to 1.1305 last week, subsequent erratic rise to 1.1380 (Europe) on Monday suggests choppy trading above 1.1267 would continue with upside bias, above 1.1380 would bring re-test of 1.1402 and break there would extend said rise towards 1.1432 later.

Only a daily close below 1.1305 signals correction over and risk would shift to downside for weakness towards 1.1257.

The eco. data calendar is pretty light today with France's budget balance n then EU's PPI being the only 2 data due out during European morning. The EU FinMins' meeting starts at 08:00GMT today n ECB's Vice President Gundos will particiapte in ECONFIN meetig.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Dec 2018 09:30 GMT

USD/JPY - 113.12
Dollar's retreat to 113.38 after gap-up open to 113.85 (New Zealand) on Monday, then intra-day firm break below said support on falling U.S. Treasury yields suggests further choppy trading below last week's peak at 114.04 would continue and and stronger retracement towards 112.66 would be seen, break may extend to 112.31 (Nov's low).

On the upside, only above 113.70 would indicate temporary low has been made, risk gain to 113.85, then 114.04.

Data to be released later on Tuesday :
U.K. BRC retail sales, Markit construction PMI, France budget balance, Swiss CPI, EU producer price.
Canada labour productivity rate and U.S. redbook, ISM New York index.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1334
Although euro's initial rally above 1.1402 res to a 10-day high of 1.1420 in Europe due to continued drop in U.S. yields suggests choppy trading above last week's low at 1.1267 would continue, subsequent selloff to 1.1319 as usd caught a bid in New York on 3% decline in the Dow suggests choppy trading with downside bias would be seen, however, reckon 1.1267 sup should hold firm here.

On the upside, only above 1.1380 dampens intra-day bearishness and risk another rise to 1.1420, break, 1,1440/50.

Data to be released on Wednesday :
Australia AIG services index, GDP, Japan Markit services PMI, China Caixin services PMI.
France current account, Markit services PMI, Italy Markit services PMI, Germany Markit services PMI, EU Markit services PMI, retail sales, UK Markit services PMI.
U.S. market holiday, Fed's Beige Book, and Canada BoC interest rate decision.

 

[AceTRaderForex]

AceTraderFx Dec 05 : Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Dec 2018 09:30 GMT

USD/JPY - 113.04
Despite yesterday's selloff to 112.57 on dollar's broad-based weakness, subsequent rebound suggests the near term fall from last week's high at 114.04 has made a temporary low there and consolidation with mild upside bias would be seen, however, 113.38 (previous support) would remain intact, yield another fall towards said support, break would extend weakness to 112.31.

On the upside, only above 113.28 would dampen daily bearishness and risk gain towards 113.69/71, then 113.85 but said 114.04 top should hold on first testing.

A reminder that U.S. markets will be closed today as President Trump designated it a National Day of Mourning in honor of former U.S. President George H.W. Bush.
The only U.S. data due out is the Fed's beige book. BoJ Gov. will be speaking at a financial venue in Tokyo at 09:30GMT.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Dec 2018 05:30 GMT

EUR/USD - 1.1348
Euro's decline from Tuesday's 10-day high at 1.1420 to as low as 1.1311 yesterday suggests early erratic rise from last week's 1.1267 bottom has ended and although subsequent rebound in holiday-thinned North American trading would bring sideways swings in Asia, intra-day selloff in Asian stocks should prompt USD buying as safe-haven currency.

Below 1.1305/11 sup would pressure price towards 1.1267 and only above 1.1380/90 'prolongs' choppy consolidation, risks another rise towards 1.1420 later.

Euro zone eco. calendar is pretty light today, Germany will release industrial orders n then we have France's current account. There is a ECB General Council meeting at 08:00GMT so we may have some comments from ECB officials during the day.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Dec 2018 09:30 GMT

USD/JPY - 113.01
Despite intra-day selloff to 112.58 in Asia on risk averse buying of JPY, subsequent strong rebound suggests further choppy trading above Tuesday's trough at 112.57 would continue with upside bias and above 113.24 would yield stronger retracement of recent decline from 114.04 to 113.69/71 before prospect of another retreat early next week.

On the downside, only below 112.57/58 would revive bearishness for weakness towards November's trough at 112.31, break would signal erratic decline from 114.21 (Nov) has resumed and extend towards 111.90/92.

Data to be released later on Thursday :
Germany industrial orders, France current account.
U.S. ADP employment change, trade balance, initial jobless claims, labor costs, productivity, Markit services PMI, durable goods, durable ex-defense, durable ex-transport, factory orders, ISM non-manufacturing PMI.
Canada trade balance, exports, imports, Ivey PMI.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Dec 2018 05:30 GMT

EUR/USD - 1.1377
Despite yesterday's initial weakness to 1.1321, subsequent rally to 1.1412 suggests this week's daily wild swings would continue inside recent broad range of 1.1216-1.1472, above this week's high at 1.1420 would extend marginal gain but indicated upper level should cap upside.

On the downside, below 1.1305/11 sup would shift risk to downside and yield subsequent decline towards 1.1267.

Eco calendar in the euro area countries is pretty heavy, please refer to our EI section for details.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Dec 2018 09:30 GMT

USD/JPY - 112.84
Despite yesterday's selloff to 112.24 in Asia on risk averse buying of JPY, subsequent strong rebound suggests further choppy trading above Tuesday's trough at 112.57 would continue with upside bias and above 113.24 would yield stronger retracement of recent decline from 114.04 to 113.69/71, however, 113.85 would remain intact ahead of U.S. jobs report.

On the downside, only below 112.57/58 would revive bearishness for weakness towards November's trough at 112.31, break would signal erratic decline from 114.21 (Nov) has resumed and extend towards 111.90/92.

Data to be released later on Friday :
Germany industrial output, France industrial output, trade balance, import, export, U.K. Halifax house prices, Italy retail sales, EU GDP revised.
Canada employment change, unemployment rate and U.S. non-farm payrolls, private payrolls, unemployment rate, average earning, University of Michigan sentiment prelim, wholesale inventories, wholesale.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Dec 2018 05:30 GMT

EUR/USD - 1.1412
Friday's intra-day erratic rise to a fresh 2-week high of 1.1423 due to usd's broad-based weakness after downbeat U.S. NFP suggests consolidation with upside bias remains but above 1.1472 res needed to retain bullish prospect for early rise from 2018 bottom at 1.1216 (November) to head to next daily obj. at 1.1500 later.

On the downside, only below near term good sup at 1.1359/60 signals temporary top is in place and may risk stronger retracement to 1.1320/30.

A government source said on Friday that the Italian ruling coalition aimed to send a revised budget to the EU on Wednesday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Dec 2018 09:30 GMT

USD/JPY - 112.66
Despite the greenback's intra-day fall and re-test of last Thursday's 1-month low at 113.24, failure to penetrate this level and subsequent rebound suggests choppy trading above there is in store and marginal gain is likely to be seen, however, resistance at 112.92 should remain intact and yield another fall later.
Below 112.24 would extend decline from November's peak at 114.21 towards 111.92 later.

On the upside, only above 112.92 would indicate a temporary low has been made and risk stronger gain toward but 113.24 should cap price and yield retreat.

Data to be released later :
Swiss unemployment rate, Germany exports, imports, trade balance, current account, EU ECJ ruling on Article 50, Italy industrial output, UK GDP, industrial output, manufacturing output, construction output, goods trade balance GBP, trade balance non-EU, NIESR GDP estimate.
Canada housing starts, building permits, ADP employment change and U.S. JOLTS job openings on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Dec 2018 05:30 GMT

EUR/USD - 1.1364
Despite extending last week's upmove to a fresh 2-week high of 1.1443 initially in Asia on Monday, subsequent 'cable-led' selloff to as low as 1.1350 in New York partly due to renewed usd's strength suggests recent erratic rise from 1.1267 has made a top there an stronger retracement to 1.1305/11 sup area can't be ruled out before prospect of rebound due to near term oversold condition.

On the upside, a daily close above 1.1400 suggests pullback is over and would head back towards 1.1443 but key res at 1.1472 should remain intact.

Euro area countries will release a slew of eco. data starting with France's non-farm payrolls, then EU's Sentix economic sentiment. ECB Vice President Guindos will deliver a speech in Frankfurt, then ECB's Angeloni.

 

[AceTRaderForex]

AceTraderFx Dec 11 : Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 11 Dec 2018 09:30 GMT

USD/JPY - 113.06
Despite the greenback's intra-day fall and re-test of last Thursday's 1-month low at 113.24, failure to penetrate this level and subsequent rebound suggests choppy trading above there is in store and marginal gain is likely to be seen, however, resistance at 112.92 should remain intact and yield another fall later. Below 112.24 would extend decline from November's peak at 114.21 towards 111.92 later.

On the upside, only above 112.92 would indicate a temporary low has been made and risk stronger gain towards but 113.24 should cap price and yield retreat.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Dec 2018 05:30 GMT

EUR/USD - 1.1331
Yesterday's anticipated decline from 1.1400 to as low as 1.1306 led by intra-day selloff in cable and then renewed usd's strength in New York suggests recent erratic rise from 1.1267 has made a top at 1.1443 (Monday) and downside bias remains for weakness towards 1.1267, however, November's 20-month trough at 1.1216 should continue to hold this week.

On the upside, only a daily close above 1.1350 (Monday's low, now res) would prolong choppy sideways swings, then risk is seen for another rebound towards 1.1400 but 1.1443 should cap upside.

Euro area eco. calendar is pretty light today with EU's Oct industrial production being the only data due out. UK embattling PM Theresa May will meet with European Council President Donald Tusk in Brussels on Brexit agreement at 16:00GMT.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1369
Yesterday's intra-day cable-led rebound in Europe, then subsequent gain to 1.1388 on positive Italy's budget news suggests euro's fall from 1.1443 (Mon) has made a low at 1.1306 Tuesday and choppy trading with upside bias is seen ahead of ECB's rate decision and Draghi's presser.

Above 1.1400 may head back towards 1.1443 buy previous daily res at 1.1472 should cap upside whilst below 1.1305/06 sup would shift risk to downside for subsequent weakness towards 1.1267.

Data out on Thursday :
New Zealand food price index, UK RICS housing price balance.
Germany CPI, HICP, France CPI, Swiss producer/import price, SNB interest rate decision, EU ECB interest rate decision, ECB deposit rate decision, EU summit on budget and Brexit.
U.S. import prices, export prices, initial jobless claims, and Canada new housing price index.

 

[AceTRaderForex]

AceTraderFx x Dec 13: Daily Recommendations on Major -USD/JPY

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

USD/JPY - 113.43
Despite the greenback's retreat from 113.52 to 113.15 yesterday, subsequent rebound suggests consolidation with upside bias remains for upmove from last Thursday's 1-month trough at 112.24 to resume and yield re-test of said resistance, break would extend towards 113.85.
However, loss of momentum would keep price below daily resistance at 114.21 and yield correction early next week.

On the downside, only below 113.01 would indicate aforesaid rise has made a temporary top there and risk would increase for a stronger retracement towards 112.90/92.

U.S. eco. calendar is pretty light with second-tier initial jobless claims and export n import prices being the only data due out today.