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 Aug 02: Daily Recommendations on Major - USD/JPY

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 02 Aug 2019 09:30 GMT

    USD/JPY - 106.93
    Dollar's selloff from yesterday's 8-week high to 107.27 in New York on U.S. President Trump's tweet on more tariffs on China, then to 106.84 today suggests early correction from June's 5-1/2 month trough at 106.79 has ended and re-test of this level would be seen after consolidation, where break would extend medium term decline towards 106.20/30.

    On the upside, only above 107.56/57 would risk stronger retracement towards 107.95/00.

    Data to be released on Friday :
    Swiss CPI manufacturing PMI, Italy industrial output, retail sales, UK Markit construction PMI, EU PPI, retail sales.
    U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, goods trade balance, ISM New York index, factory orders, durables ex-defense, durable goods, durables ex-transport, University of Michigan sentiment, and Canada trade balance, export, import.
     
  2. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1115
    Despite euro's resumption of MT decline to a 26-month trough at 1.1028 Thursday, subsequent rally to 1.1116 in post-NFP on
    Friday suggests temporary bottom made and consolidation with upside bias remains for stronger retracement towards 1.1162 before prospect of retreat.

    On the downside, only below 1.1061 would indicate recovery has ended instead, risk weakness towards 1.1028/34.

    Data to be released today:
    Australia AIG services index, AZN job ads, Japan services PMI, China Caixin services PMI.
    Swiss consumer confidence, retail sales, France non-farm payrolls, industrial output, Markit services PMI, Italy Markit services, Germany Markit services PMI, EU Markit services, sentix index.
    U.S. Markit services, ISM non-manufacturing PMI and Canada market holiday on Monday.
     
  3. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 05 Aug 2019 09:30 GMT

    USD/JPY - 105.95
    Intra-day fall below Fri's 106.52 to a fresh 7-month bottom at 105.79 in Asia on active safe-haven yen buying due to escalating U.S.-China trade tension suggests Medium Term decline remains in progress and further weakness to 105.55 would be seen after consolidation but loss of momentum should keep price above 105.22.

    On the upside, only above 106.52 would risk stronger retracement towards 106.85, then 107.27 before down.

    U.S. economic calendar is very light today with Markit services PMI and ISM non-mfg PMI being only only data due out.
    Also, we have Fed Governor Brainard who will speak on 'Payment Systems' in Kansas City at 17:30GMT.
     
  4. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1230
    Euro's rally to 1.1212 in New York on Monday due to continued usd's weakness and intra-day break above said res to 1.1249 at Asian open suggests medium term decline has made a temporary low at last Thursday's 26-month trough at 1.1028 and further gain towards 1.1285 would be seen after consolidation.

    On the downside, only below 1.1167 may risk weakness to 1.1132 before prospect of rebound.

    Economic calendar is quite light today with Germany industrial order followed by France non-farm payrolls and industrial output.
     
  5. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    USD/JPY - 106.36
    Despite dollar's resumption of recent decline to a fresh 7-month bottom of 105.53 in Australia, subsequent rise to 107.09 in Asia on higher official USD/CNH mid-point reference rate suggests temporary low made and present retreat would bring range trading before prospect of another rise but 107.22/27 should remain intact and yield retreat.

    On the downside, only below 105.80 would risk re-test of 105.53, break, 105.20/25 later.

    Data to be released on Tuesday :
    UK BRC retail sales, Germany industrial order, France non-farm payrolls, industrial output.
    U.S. redbook, JOLTS job openings.
     
  6. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 07 Aug 2019 05:30 GMT

    EUR/USD - 1.1208
    Although euro's resumption of upmove from last Thursday's 26-month trough at 1.1028 to 1.1249 on Tue suggests recent decline has made a temporary bottom, subsequent retreat to 1.1168 signals first leg of correction has ended and would bring range trading before price head towards 1.1285 later.

    On the downside, only below 1.1162/68 would risk retracement to 1.1139 (50% r) before prospect of rebound.

    Data to be released on Wednesday:
    New Zealand RBNZ interest rate decision.
    Germany industrial output, France current account, trade balance, import, export, U.K. Halifax house prices.
    U.S. MBA mortgage app and Canada Ivey PMI.
     
  7. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 08 Aug 2019 05:30 GMT

    EUR/USD - 1.1209
    Although euro's retreat from yesterday's 1.1241 high suggests choppy trading below Tuesday's 2-week top at 1.1249 would continue before recent upmove from last Thursday's 26-month trough at 1.1028 resumes and extend towards 1.1285, reckon 1.1345/49 should hold and yield retreat.

    On the downside, only below 1.1162/68 would risk weakness towards 1.1132/35.

    Although no eco. data is due out from the euro area countries today, the EU will publish the Economic Bulletin which is released two weeks after each Governing Council meeting.
     
  8. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 09 Aug 2019 05:30 GMT


    EUR/USD - 1.1191
    Euro's daily swings in last few sessions after hitting a 2-week high of 1.1249 (Tuesday) are expected to continue and as long as 1.1168 (reaction low) holds, recent upmove from Aug's 2-year bottom at 1.1028 would head towards next daily target at 1.1285 after consolidation.

    Only a daily close below 1.1168 signals first leg of correction has ended, then risk would shift to downside for a stronger retracement of aforesaid rise to 1.1130/35, however, reckon 1.1100/05 would remain intact.

    The euro area countries will release a slew of economic data during European morning, please refer to our economic indicator section for details.
     
  9. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    USD/JPY - 105.94
    Dollar's intra-day rebound from 105.73 (AUS) suggests 1st leg of correction from Wednesday's 7-month trough at 105.50 has ended at 106.30 yesterday and consolidation with upside bias remains, above 106.30 would extend gain towards 106.70/74 later.

    On the downside, only below 105.73 would risk re-test of 105.50, break, 105.10/20.

    Data to be released on Friday:
    Germany exports, imports, trade balance, current account, France industrial output, Italy trade balance, global trade balance, CPI, CPI EU, U.K. NIESR GDP estimate, GDP, industrial output, manufacturing output, good trade balance, good trade balance non-EU.
    Canada housing starts, building permits, employment change, unemployment rate, and U.S. PPI, core PPI.
     
  10. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1204
    Despite last Fri's intra-day erratic rise to 1.1222 in New York due to cross-buying in euro especially vs sterling, subsequent retreat suggests the daily wild swings from last Tuesday's 2-week high at 1.1249 would continue, as long as 1.1168 (reaction low) holds, early upmove from August's fresh 2-year trough at 1.1028 would extend marginal gain, loss of momentum is likely to limit upside to 1.1285.

    Only a daily close below 1.1168 signals 1st leg of correction has ended, then risk would shift to downside for stronger retracement to 1.1110/20 before prospect of rebound later this week.

    On the data front, no economic data is due out from the euro area countries and no speeches by ECB officials, so one can expect a quiet start in Europe too.
     
  11. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    USD/JPY - 105.29
    Dollar's intra-day break of Friday's 7-month bottom at 105.27 suggests medium term decline remains in progress and would head towards 105.00 after consolidation but loss of downward momentum should keep price above 2019 trough of 104.79 (January).

    On the upside, only above 106.30/32 would confirm temporary low made and risk retracement towards 106.70/74.

    On the economic calendar, no data is due out from the U.S. today, we have U.S. Federal budget due out at 18:00GMT, therefore, funds flow will have a greater impact on intra-day price swings.
     
  12. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1206
    Euro's rebound from 1.1163 in Europe to 1.1230 (New York) yesterday suggests early pullback from last Wednesday's 2-week high at 1.1249 has possibly ended and consolidation with upside bias remains, above 1.1249 would extend recent upmove from August's 26-month trough at 1.1028 towards 1.1285 which may hold on first testing.

    On the downside, only below 1.1163 would risk stronger retracement towards 1.1132/35.

    Data to be released on Tuesday:
    Japan corp goods price, tertiary industry index, machine tools orders, Australia NAB business condition.
    Germany wholesale price index, CPI, HICP final, ZEW economic sentiment, UK claimant count, ILO unemployment rate, employment change, average weekly earnings, EU ZEW economic sentiment.
    U.S. core CPI, CPI, redbook weekly earnings, redbook retail sales.
     
  13. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 13 Aug 2019 09:30 GMT

    USD/JPY - 105.24
    Although dollar's rebound from Mon's fresh 7-month bottom at 105.06 to 105.58 today suggests temporary low is possibly made and range trading would be seen before prospect of one more fall, loss of momentum should prevent steep fall below 2019 trough at 104.79 (Jan) and yield correction.

    On the upside, above 105.58 would bring stronger retracement towards 105.69 but 105.85/90 should hold.

    On the data front, U.S. will release a slew of eco. indicators starting with Jul core CPI, CPI, real weekly earnongs n Redbook sales.
     
  14. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1176
    Euro's daily wild swings this week suggests further choppy trading below Aug's 1.1249 high would continue and yesterday's usd rally vs G4 currencies suggests downside bias remains and below Mon's 1.1163 low would bring stronger retracement of recent upmove to 1.1132/35, oversold condition would keep price above 1.1103.

    Only above 1.1249 would extend upmove from August's fresh 2-year bottom at 1.1028 towards 1.1285 later this week.

    The euro area countries will release a slew of eco. data starting with France's unemployment, Germany's prel. Q2 GDP, France's CPI and then EU's employment change, Q2 GDP and industrial production.
     
    Last edited by a moderator: Aug 14, 2019 at 15:50
  15. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    USD/JPY - 106.45
    Dollar's impressive rally from 105.07 to 106.97 on Tue due to positive news of U.S.-China trade talks suggests recent decline has made a temporary low at Mon's fresh 7-month bottom of 105.06, subsequent retreat would bring range trading before prospect of another rise towards 107.10/15.

    On the downside, only below 106.00/10 would indicate recovery has ended instead, risk retracement towards 105.57/67.

    U.S. will later release a slew of economic data starting with MBA mortgage applicaions, then import and export prices. As these 3rd tier data are unlikely to have impact on price, traders will take cue from intra-day movements in U.S. stocks and Treasury yields.
     
  16. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1191
    Euro's daily swings in last few sessions after hitting a 2-week high of 1.1249 (Tuesday) are expected to continue and as long as 1.1168 (reaction low) holds, recent upmove from August's 2-year bottom at 1.1028 would head towards next daily target at 1.1285 after consolidation.

    Only a daily close below 1.1168 signals first leg of correction has ended, then risk would shift to downside for a stronger retracement of aforesaid rise to 1.1130/35, however, reckon 1.1100/05 would remain intact.

    The euro area countries will release a slew of economic data during European morning, please refer to our economic indicator section for details.
     
  17. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    USD/JPY - 106.20
    Despite dollar's brief jump to 106.78 at European open, subsequent retreat suggests further choppy trading inside recent broad range 105.06-106.97 would continue with downside bias and below 105.66 would yield 105.30/40, where break would bring re-test of Monday's fresh 7-month bottom of 105.06.

    On the upside, only above 106.78 would risk stronger retracement towards 106.97, then possibly 107.09.

    Data to be released later:
    Italy market holiday, UK retail sales, retail sales ex-fuel, retail sales import price.
    US New York Fed manufacturing, initial jobless claims, labor costs prelim, productivity prelim, retail sales ex-autos, retail sales.industrial production, capacity utilization, manufacturing output, industrial production and Canada ADP employment change.
     
  18. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    USD/JPY - 106.20
    Despite dollar's brief jump to 106.78 at European open, subsequent retreat suggests further choppy trading inside recent broad range 105.06-106.97 would continue with downside bias and below 105.66 would yield 105.30/40, where break would bring re-test of Monday's fresh 7-month bottom of 105.06.

    On the upside, only above 106.78 would risk stronger retracement towards 106.97, then possibly 107.09.

    Data to be released later:
    Italy market holiday, UK retail sales, retail sales ex-fuel, retail sales import price.
    US New York Fed manufacturing, initial jobless claims, labor costs prelim, productivity prelim, retail sales ex-autos, retail sales.industrial production, capacity utilization, manufacturing output, industrial production and Canada ADP employment change.
     
  19. AceTRaderForex

    AceTRaderForex Master Trader

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

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

    EUR/USD - 1.1098
    Despite euro's selloff from 1.1158 on Thursday due to dovish comments from ECB's Rehn and then break of 1.1131 support to 1.1092 in New York suggests correction from August's 26-month trough at 1.1028 has ended earlier at 1.1249, loss of momentum should keep price above 1.1061/71 and yield rebound.

    On the upside, only above 1.1131 would yield retracement to 1.1158/63 before prospect of another fall.

    Economic calendar from the euro area countries is very thin today with the EU's trade balance being the only data due out at 09:00GMT.
     
  20. AceTRaderForex

    AceTRaderForex Master Trader

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 16 Aug 2019 09:30 GMT

    USD/JPY - 106.17
    Dollar's decline from Tuesday's 106.97 high to 105.66 Wednesday suggests first leg of correction from Monday's fresh 7-month trough at 105.06 has ended, yesterday's brief jump to 106.78 at European open and then fall to 105.71 would bring range trading before price heads to 105.80/90, and below 105.66 needed for 105.30/40.

    On the upside, only above 106.97 would risk gain towards 107.09 but 107.27 should hold.

    Data to be released later :
    EU trade balance and U.S. building permits, housing starts, University of Michigan consumer sentiment.
     

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