AceTraderFx : Daily Recommendations on Major

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

  1. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 04 Jun 2019 05:30 GMT

    EUR/USD - 1.1248
    Euro's rally from 1.1160 (Europe) to 1.1162 due to dovish comments by Fed's Bullard in New York afternoon confirms Medium Term downtrend has made a temporary low at May's 22-month bottom at 1.1108 and as long as 1.1215/25 (previous res, now sup) holds, re-test of May's 1.1265 would be forthcoming next, break would extend to 1.1300/04, overbought condition should cap price at 1.1325 today.

    Only below 1.1215 signals temporary top is in place, then risk would shift to the downside for stronger retracement to 1.1190, then 1.1157/60.

    Data to be released on Tuesday :
    New Zealand trade balance, import prices, export prices, Australia current account, retail sales, RBA rate decision, France budget balance, Italy unemployment rate, UK BRC retail sales, construction PMI, EU HICP, core HICP, unemployment rate, U.S. redbook retail sales, ISM NY index, durable goods and factory orders.
     
  2. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1264
    Euro's intra-day firmness in Asia following retreat from Tuesday's 1-month high at 1.1277 (Europe) to 1.1227 in New York suggests pullback has ended and recent upmove would head to 1.1300/04 after consolidation, however, loss of upward momentum should cap price below res at 1.1325 and risk has increased for a much-needed correction to occur later today or tomorrow.

    A daily close below 1.1227 signals 1st leg of correction from 1.1108 has ended and yields weakness to 1.1157/60.

    Today is PMI day in the euro area countries, Italy will kick off with Martkit services PMI, then the same from France and Germany, the EU will release PPI and retail sales.sed by professionals and real-time updates
     
  3. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 06 Jun 2019 05:30 GMT

    EUR/USD - 1.1226
    Despite Wed's anticipated resumption of recent upmove from 2019 22-month bottom at 1.1108 (May) to a 1-month high of 1.1306 at New York open after weak U.S. ADP private payrolls data, subsequent decline to as low as 1.1220 near New York close due to broad-based usd's rally on short covering signals temporary top has been made and downside bias remains for stronger retracement to 1.1160/70.

    Only above 1.1306 risks marginal gain to 1.1325, loss of momentum should cap price at 1.1345/50 and yield decline.

    Ahead of ECB's rate decision and post-ECB press conference, the euro area will release a slew of eco. data (please refer to our EI page for details).
     
  4. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 06 Jun 2019 09:30 GMT

    USD/JPY - 108.24
    Despite yesterday's rally from a near 5-month low at 107.82 to 108.48 in New York on broad-based usd's strength, subsequent retreat to 108.19 in Australia, then lower to 108.08 in Europe on U.S.-Mexico trade tension suggests recovery has possibly ended and decline from April's 112.39 high would resume and extend towards 107.60/65 but 107.30 should remain intact.

    On the upside, only above 108.72 would risk stronger retracement towards 109.00/10 before retreat.

    Data to be released on Thursday :
    Germany industrial orders, EU employment, GDP, ECB interest rate decision.
    U.S. trade balance, jobless claims, labor costs, productivity, Canada trade balance, exports, imports and Ivey PMI.
     
  5. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1312
    Euro's intra-day retreat due to usd's broad-based recovery in Asia following Fri's rally to a 10-week high of 1.1347 suggests range trading is in store before prospect of marginal gain, near term loss of upward momentum should cap price at 1.1385/95.

    A firm break below 1.1300 would be the first signal temporary top is made, then risk would shift to the downside for stronger retracement towards 1.1252 later.

    Italy is open today and will release industrial output. We also have ECB Vice President Guindos speaking at a business forum in Madrid at 12:15GMT.
     
  6. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1312
    Euro's intra-day retreat due to usd's broad-based recovery in Asia following Friday's rally to a 10-week high of 1.1347 suggests range trading is in store before prospect of marginal gain, near term loss of upward momentum should cap price at 1.1385/95.

    A firm break below 1.1300 would be the first signal temporary top is made, then risk would shift to the downside for stronger retracement towards 1.1252 later.

    Italy is open today and will release industrial output. We also have ECB Vice President Guindos speaking at a business forum in Madrid at 12:15GMT.
     
  7. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 11 Jun 2019 09:30 GMT

    USD/JPY - 108.58
    Although dollar's rally from last Wed's near 5-month trough at 107.82 to 108.71 yesterday suggests recent decline from April's 4-month peak at 112.39 has made a temporary low, as long as 108.71/72 res holds, downside bias remains for re-test of 107.82, but break needed to extend decline towards 107.55/65.

    On the upside, only above 108.72 would risk stronger retracement towards 109.02, then possibly 109.25.

    Data to be released on Tuesday :
    UK claimant count, ILO unemployment rate, employment change, average weekly earnings, EU Sentix index, and U.S. PPI, redbook.
     
  8. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 12 Jun 2019 05:30 GMT

    EUR/USD - 1.1330
    Euro's rebound to 1.1337 (New York) yesterday suggests early correction from last Friday's 10-week high at 1.1347 has ended at 1.1291 (Monday) and upside bias remains for recent upmove to head marginally above said res, however, loss of upward momentum is expected to cap price at 1.1400.

    On the downside, only a daily close below 1.1291 confirms temporary top is made and risk would shift to the downside for stronger retracement towards 1.1252.

    Economic calendar in the euro area is very thin with France's non-farm payrolls being the only data due out today.
    We have a number of ECB officials speaking today starting with ECB President Draghi making welcoming address at an ECB conference in Frankfurt at 08:15GMT, then ECB Vice President speaking at the same event at 09:00GMT, then later ECB's Coeure at 12:15GMT n then 15:00GMT.
     
  9. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Jun 12: Daily Recommendations on Major -USD/JPY

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

    USD/JPY - 108.34
    Despite dollar's resumption of upmove from last Wed's near 5-month trough at 107.82 to a 1-week high at 108.80 yesterday, subsequent retreat and intra-day break of 108.34 sup suggests temporary top made and weakness towards 107.90/00 would be seen after consolidation but below 107.82 needed to extend fall towards 107.77/80.

    On the upside, only above 108.80 would risk gain towards 109.02, then 109.25 later.

    Data to be released on Wednesday :
    France non-farm payrolls, and U.S. MBA mortgage application, CPI, real weekly earnings, Federal budget.
     
  10. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 13 Jun 2019 05:30 GMT

    EUR/USD - 1.1296
    Despite yesterday's initial firmness and intra-day gain to 1.1343 (Europe), failure to re-test Jun's 10-week high at 1.1347 and subsequent selloff to 1.1283 as the greenback caught a bid in New York session suggests further choppy trading below said res level would continue with near term downside bias, oversold condition is likely to keep price above sup at 1.1252 and bring rebound later today or tomorrow.

    Above 1.1347 needed to extend recent upmove to 1.1378/83 whilst a daily close below 1.1252 would risk stronger retracement twd 1.1203.

    Data to be released on Thursday :
    UK RICS housing price balance, Australia employment change, unemployment rate, Germany CPI, HICP, Swiss producer/import price, EU industrial production, U.S. import prices, export prices, initial jobless claims, and Canada new housing price index.
     
  11. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 14 Jun 2019 05:30 GMT

    EUR/USD - 1.1280
    Although euro's decline from last Friday's post-NFP 10-week high at 1.1347 to as low as 1.1269 yesterday confirms recent upmove has made a temporary top there, loss of downward momentum is likely to limit weakness to 1.1252 and bring rebound later, a firm break above 1.1303/08 res would signal pullback has ended and would head back towards said Jun's high next week.

    Only a daily close below 1.1252 sup would risk stronger correction towards 1.1203 before prospect of rebound.

    Today is the meeting of the ECOFIN in Luxembourg, so one can expect comments from EU officials. On the data front, Germany will kick off with wholesale price index, then France's CPI. Italy's industrial orders, industrial sales and CPI.
    We have ECB's Lautenschlager and Enria speaking during Euroepan morning.
     
  12. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 14 Jun 2019 09:30 GMT

    USD/JPY - 108.21
    Dollar's erratic fall from this week's high at 108.80 (Tue) to 108.17 yesterday suggests early correction from June's 5-month bottom at 107.82 has ended and below 108.00/03 would encourage for re-test of 107.82, however, loss of downward momentum should keep price above projected sup at 107.30.

    Only above 108.53/57 prolongs choppy sideways swings and may risk another rise back towards 108.80 but reckon 109.02 should cap upside.

    Data to be released on Friday :
    Germany wholesale price index, France CPI, Italy industrial orders, industrial sales, CPI.
    U.S. retail sales, industrial production, capacity utilization, manufacturing output, business inventories, University of Michigan sentiment.
     
  13. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1220
    Euro's selloff in New York session to 1.1203 on Fri due to renewed usd's broad-based strength following decent U.S. retail sales data strongly suggests correction from May's 22-month bottom at 1.1108 has ended at 1.1347 and consolidation with downside bias remains for further weakness to 1.1157/60.

    On the upside, only a daily close above 1.1269 'prolongs' choppy sideways swings and may head back to 1.1303/08 later.

    Although no eco. data is due out from the euro area countries, pay attention to comments from ECB officials where some of them are attending the 3-day ECB Forum on Central Banking 2019 in Sintra, Portugal. ECB President Draghi will make an opening speech at 17:00GMT later today and then at 08:00GMT Tuesday.
     
  14. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Jun 17: Daily Recommendations on Major -USD/JPY

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

    USD/JPY - 108.58
    Despite dollar's retreat from last Tue's 108.80 high to 108.17 on Thur, Fri's rally to 108.58 in NY after re-testing said sup, then intra-day gain to 108.70 suggests pullback has ended and above 108.80 would extend recent rise from Jun's near 5-month trough at 107.82 towards 109.02.

    On the downside, only below 108.17 would indicate correction has ended instead and yield weakness to 107.82 again.

    Eco. calendar in the U.S. is pretty thin with NY Fed mfg index n NAHB Housing Market index being the only dat due out in NY morning.
     
  15. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 18 Jun 2019 05:00 GMT

    EUR/USD - 1.1224
    Euro's decline from Jun's 1.1347 high to a 1-week low at 1.1203 last Friday suggests early correction from May's 22-month trough at 1.1108 has ended and as price has retreated after Monday's recovery to 1.1246 in New York, bearishness is retained for weakness to 1.1157/60, loss of momentum should keep price above 1.1108 ahead of Fed's rate decision on Wednesday.

    Only above 1.1269 'prolongs' choppy sideways swings and may risk another rise to 1.1303/08 later.

    The euro area countries will release a slew of eco. data, pay attention to Germany's ZEW eco. sentiment n current conditions, then EU's rate balance, final HICP n core HICP as well as ZEW eco. sentiment. Also, keep an eye out for comments by ECB officials - Draghi, De Guindos and Lane who are attending at ECB Forum in Sintra, Portugal.
     
  16. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 18 Jun 2019 09:30 GMT

    USD/JPY - 108.30
    Dollar's retreat from Monday's 108.72 high and intra-day fall in Asia due to BoJ Kuroda's comments suggests further choppy trading below last Tuesday's 108.80 high would continue and below 108.17 would bring re-test of Jun's near 5-month bottom of 107.82, but break needed to extend medium term decline from 112.39 (April) towards 107.30 before rebound.

    On the upside, only above 108.80 would risk stronger retracement towards 109.02, break, 109.20/25.

    Data to be released on Tuesday :
    Germany ZEW economic sentiment, current conditions, EU trade balance, HICP, core HICP, ZEW economic sentiment.
    U.S. building permits, housing starts, redbook retail sales and Canada manufacturing sales.
     
  17. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 19 Jun 2019 05:30 GMT

    EUR/USD - 1.1195
    Yesterday's decline to a 2-week low of 1.1182 after dovish comments by ECB's Draghi suggests early correction from May's 22-month bottom at 1.1108 has ended earlier at 1.1347 and subsequent eur-yen cross inspired recovery in New York morning would bring consolidation before further weakness to 1.1155/60, however,' loss of downward momentum' should keep price well above 1.1108.

    Only a daily close above 1.1246 (dovish Fed statement perhaps) signals temporary low is in place and risk would shift to the upside for stronger retracement to 1.1285/89.

    The euro area countries will release a slew of eco. data (see our EI page for details, we also have ECB officials and EU President Juncker speaking on the last day of ECB forum in Sintra, so keep a eye out for more comments from Draghi.
     
  18. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 20 Jun 2019 05:30 GMT

    EUR/USD - 1.1266
    Yesterday's rally in post-FOMC New York trading to 1.1254 and intra-day break above this level in Asia due to renewed usd's weakness suggests recent decline has made a low at Tuesday's 2-week trough at 1.1182 and consolidation with upside bias remains for further gain, however, near term overbought condition should cap euro at 1.1303/08 and yield retreat later today or tomorrow.

    On the downside, below 1.1221/25 would be the first signal top is made, then risk would shift to the downside for weakness to 1.1200/01, then 1.1182/88.

    Data to be released on Thursday :
    New Zealand GDP, Japan Bank of Japan interest rate decision, all industry activity index.
    Swiss trade balance, exports, imports, France GDP, UK retail sales, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, BoE interest rate decision, BoE QE total, BoE QE corporate bond purchases.
    U.S. current account, initial jobless claims, Philadelphia Fed survey, Canada ADP employment change, and EU consumer confidence.
     
  19. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 21 Jun 2019 05:30 GMT

    EUR/USD - 1.1299
    Euro's continuation of Wed's post-FOMC rally to 1.1317 yesterday's suggests early decline from June's 1.1247 peak has ended at 1.1182 (Tuesday) and re-test of this res is envisaged after consolidation, loss of upward momentum is expected to limit gain to 1.1378 and yield correction later today or Monday.

    On the downside, only a daily close below 1.1254 signals temporary top is in place and risks stronger retracement to 1.1212/21 area.

    Data to be released on Friday :

    Australia manufacturing PMI, services PMI, Japan national CPI, Nikkei manufacturing PMI, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, UK PSNB, PSNCR, Canada retail sales, and U.S. Markit manufacturing PMI, Markit services PMI, existing home sales.
     
  20. AceTRaderForex

    AceTRaderForex Master Trader

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    AceTraderFx Jun 21: Daily Recommendations on Major USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 21 Jun 2019 09:30 GMT

    USD/JPY - 107.43
    Despite dollar's intra-day resumption of decline from Apr's 4-month peak at 112.39 to a fresh 5-1/2 month low at 107.06 in Asia, subsequent rebound on MOF's comments suggests range trading would be seen before prospect of another fall to 106.90 but 106.75 should hold.

    On the upside, only above 107.82 would indicate temporary low is in place and risk retracement towards 108.07, 108.44.

    T.G.I.F. after a tumultuous week, U.S. will later release Markit mfg and services PMIs n existing home sales. Cleveland Fed's Mester and Fed Gov. Brainard will participate at a Fed's event in Ohio at 16:00GMT n S. Francisco Fed's Daly will host an event at 19:30GMT.
     

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