AceTraderFx : Daily Recommendations on Major

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

  1. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 10: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 10 Apr 2019 05:30 GMT

    EUR/USD - 1.1262
    Euro's intra-day retreat from Tuesday's near 2-week high at 1.1285 would bring initial consolidation ahead of key ECB monetary policy meeting, as long as 1.1245/55 holds, upmove from 1.1184 would yield marginal gain, loss of upward momentum should cap price below 1.1332 and yield retreat.

    On then downside, a break of 1.1206/10 sup (ECB's dovish hold perhaps) signals correction over and risk is seen for weakness to 1.1184, then re-test of 2019 20-month bottom at 1.1177 March).

    On the eco. data front, we have France's industrial output, then the same from Italy.
    The EU is having a special meeting of the European Council (Article 50) on Brexit starting at 17:00GMT and this will continue into a working meeting.
     
  2. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 10: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 10 Apr 2019 09:30 GMT

    USD/JPY - 111.17
    Dollar's decline from last week's 111.82 (Fri) high to 110.98 yesterday due to safe-haven yen buying suggests recent cross-inspired upmove from March's 5-week bottom at 109.71 has made a temporary top and despite subsequent recovery, outlook remains bearish for weakness to 110.82 objective, loss of downward momentum should keep price above previous 110.53/54 sup.

    Only a daily close above 111.40 indicates pullback has ended, then risk is seen for gain to 111.58, break would yield re-test of 111.82.

    Data to be released on Wednesday :
    France industrial output, Italy industrial output, UK GDP, industrial output, manufacturing output, construction output, trade balance, EU ECB interest rate decision, ECB deposit rate decision.
    U.S. MBA mortgage application, CPI, real weekly earnings, Federal budget, FOMC minutes.
     
  3. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 11: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 11 Apr 2019 05:30 GMT

    EUR/USD - 1.1277
    Despite euro's brief but sharp retreat from yesterday's 2-week high of 1.1288 to 1.1230 after dovish comments by ECB's Draghi, subsequent strong bounce to 1.1280 following release of dovish FOMC minutes suggests upside bias remains for recent erratic rise from 1.1184 to extend marginal gain, 'loss of upward momentum' should cap price below res at 1.1332.

    On the downside, below 1.1230 any way signals correction is over, then risk would shift to the downside for weakness to 1.1206/10, then later towards 1.1184.

    Data to be released on Thursday :
    UK RICS housing price balance, China PPI, CPI, Germany CPI, HICP, France CPI, U.S. initial jobless claims, PPI, and Canada new housing price index.
     
  4. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 12: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 12 Apr 2019 06:30 GMT

    EUR/USD - 1.1283
    Although euro has risen after yesterday's fresh 2-week high of 1.1289 to 1.1292 in Asia, suggesting recent erratic upmove from April's 1.1184 bottom remains in force, 'loss of upward momentum' should prevent strong gain above 1.1300 today and reckon previous res at 1.1327/32 should cap intra-day gain and bring strong retreat of aforesaid rise.

    On the downside, below 1.1250 (New York low) would be 1st signal temporary top is made and would yield weakness to 1.1230, then 1.1206/10.

    On the data front, Germany will release Mar wholesale price index n then EU's industrial production. We have several ECB officials participating in the IMF/World Bank meeting in Washinghton D.C., please refer to our EI section for details.
     
  5. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 12: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 12 Apr 2019 09:30 GMT

    USD/JPY - 111.94
    Intra-day cross-inspired break above last Friday's 111.82 high to a 1-month top of 111.95 confirms recent upmove from March's 5-week low of 109.71 has resumed and would yield re-test of March's 112.14 high, where break would extend medium term rise from January's 9-month 104.79 trough towards 112.30/40 but 112.69 may hold.

    On the downside, only below 111.57/58 would risk stronger retracement towards 111.28/29.

    T.G.I.F., U.S. will release import n export prices and then University of Michigan consumer confidence.
    We also have the second day of the 2-day IMF and World Bank meeting where a number of govt. finance officials will be speaking (please refer to our EI section for details).
     
  6. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 15: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 15 Apr 2019 05:30 GMT

    EUR/USD - 1.1308
    Euro's resumption of recent upmove from April's 1.1184 low to a 2-week high of 1.1325 due to active eur/yen demand suggests said rise would head to 1.1375 after consolidation, loss of momentum is expected to cap price at 1.1400 this week and yield retreat.

    On the downside, only below 1.1270/80 signals top is in place, then risk would shift to the downside for stronger retracement to 1.1250 and later 1.1230.

    There is no eco. data due out from the euro area countries n no EZ officials are scheduled to speak, therefore, funds flow (more eur/yen buying perhaps) will dominate intra-day price swings.
     
  7. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 15: Daily Recommendations on Major USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 15 Apr 2019 09:30 GMT

    USD/JPY - 111.94
    Although dollar's retreat after intra-day 1-tick break of Friday's high at 112.09 suggests consolidation is in store before a re-test of March's 10-week peak at 112.14 is forthcoming and a break there would extend upmove from January's 9-month trough at 104.79 towards 112.35 later, loss of momentum would prevent sharp move beyond there and risk would increase for a much-needed correction.

    On the downside, only below 111.28 would indicate a temporary top has been made and risk stronger retracement to 110.83 later this week

    Data to be released today:
    Swiss producer/import price, and U.S. New York Fed manufacturing index on Monday.
     
  8. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 16: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 16 Apr 2019 05:30 GMT

    EUR/USD - 1.1305
    Although yesterday's retreat from 1.1321 to 1.1298 in lackluster Monday's session suggests further sideways swings below Fri's 2-week high at 1.1325 would continue, as long as 1.1280/90 holds, recent erratic rise from 1.1184 would head to 1.1375, loss of upward momentum should cap price below minor res at 1.1392.

    Below 1.1280 signals aforesaid rise has made a temporary top, then risk would shift to the downside for stronger retracement to 1.1250 and later 1.1230.

    ON the eco. data, Germany will kick off with ZEW eco. sentiment and current conditions for April, then we have EU's constriction output and ZEW eco. sentiment index. ECB's Nowotny will speak in New York at an event at 13:50GMT.
     
  9. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 17: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 17 Apr 2019 05:30 GMT

    EUR/USD - 1.1282
    Euro's intra-day brief breach of Tuesday's 1.1280 low (Europe) suggests recent upmove from 1.1184 has made a temporary top at Fri's 2-week high at 1.1325, however, firm break below 1.1270 needed to bring stronger retracement of said move to 1.1250, then later 1.1230, however, reckon 1.1200/10 should remain intact this week.

    Above 1.1314 would signal pullback has ended, then price would head to 1.1365/75 before correction occurs due to loss of upward momentum.

    On the data front, Italy will kick off with Mar CPI, then EU's current account, Italy's trade balance n followed by EU's trade balance n HICP.
     
  10. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 17: Daily Recommendations on Major -USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 17 Apr 2019 09:30 GMT

    USD/JPY - 112.06
    Dollar's intra-day rise to a near 4-month high at 112.17 at Asian open confirms medium term upmove from Jan's 9-month trough of 104.79 has resumed, subsequent retreat would bring range trading before price extends to 112.50/55 but loss of momentum should cap price below 112.67.

    On the downside, only below 111.58 would risk stronger retracement towards 111.28 before rebound.

    Data to be released on Wednesday:
    Italy consumer prices, trade balance, global EU current account, trade balance, HICP, UK CPI, RPI, PPI input prices, PPI output prices.
    U.S. MBA mortgage application, trade balance, wholesale sales, and Canada CPI, trade balance, exports, imports.


     
  11. AceTRaderForex

    AceTRaderForex Master Trader

    2,303
    4
    74
    AceTraderFx Apr 18: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 18 Apr 2019 06:30 GMT

    EUR/USD - 1.1292
    Despite yesterday's intra-day rebound from 1.1279 (Australia) to session highs of 1.1324 in European morning, failure to penetrate last Friday's 2-week peak at 1.1325 has led to profit taking in New York and 1.1275/79 needs to hold for recent upmove from Aprl's 1.1184 bottom to head to 1.1375, loss of upward momentum should cap price below 1.1400 this week.

    A daily close below 1.1279 signals said rise has made a temporary top, then risk is seen for stronger retracement to 1.1230, however, reckon 1.1200/10 should remain intact.

    Today is PMI day in the EZ, Germany will kick off with PPI, France will release Markit mfg and servcies PMIs, then the same from Germany and the the EU, Italy will later finish off with industrial order and industrial sales.
     

Share This Page