AceTraderFx : Daily Recommendations on Major

AceTRaderForex

Master Trader
Mar 19, 2013
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AceTraderFx Jan 07: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 07 Jan 2020 03:30GMT

EUR/USD - 1.1193
Euro's gain to 1.1206 (Europe) on Monday suggests early correction from last Tuesday's 4-1/2 month peak at 1.1239 has ended at 1.1126 on Friday and consolidation with upside bias remains for gain towards said temporary top but break there needed to extend recent upmove to next chart objective to 1.1185 later this week.

Only a daily close below 1.1180 suggests choppy trading below 1.1239 would continue and risk weakness to 1.1153/58 but reckon 1.1126 should remain intact.

Data to be released on Tuesday :
Japan services PMI, Australia ANZ job advertisements, New Zealand GDT price index.
Swiss CPI, Italy consumer price, CPI (EU norm), EU HICP, core HICP, retail sales.
U.S. international trade, goods trade balance, redbook, durables ex-defense, durable goods, durables ex-transport, ISM manufacturing PMI and Canada trade balance, exports, imports, Ivey PMI.
 

AceTRaderForex

Master Trader
Mar 19, 2013
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Hong Kong
www.acetraderfx.com
AceTraderFx Jan 07: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 07 Jan 2020 09:30GMT

USD/JPY - 108.37
Although dollar has recovered after yesterday's fall to a 2-1/2 month trough at 107.78 on cross-buying in jpy and minor consolidation would be seen, as said move signals decline from December's 6-month peak at 109.72 has resumed, downside bias remains and below 107.78 would extend to 107.46. However, loss of momentum would keep price above 107.09/10 and yield correction later.

On the upside, only above 108.62 would indicate a temporary low has been made and risk stronger retracement to 108.86/90 before prospect of retreat.

U.S. will later release a slew of eco. data (see our EI page for details), the majority of them are revision for Nov, however, do pay attention to ISM mfg PMI for Dec due out at 15:00GMT as this may have impact to price if actual number deviates sharply fm street forecast of 54.5 vs prev. reading of 53.9. Also, Fed Boad Gov. Brainard will be speaking at 15:00GMT in Washington but topic is not related to monetary policy.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
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Hong Kong
www.acetraderfx.com
AceTraderFx Jan 08: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 08 Jan 2020 03:30GMT

EUR/USD - 1.1162
Although euro's decline from 1.1206 (Mon) to 1.1134 yesterday suggests further choppy trading below last Tuesday's 4-1/2 month peak at 1.1239 would continue, below 1.1126 (Fri's reaction low) needed to bring stronger retracement of medium-term uptrend towards 1.1067 later this week.

On the upside, only above 1.1206 signals pullback from said Dec's high has ended, then re-test of this key res would be seen.

Data to be released on Wednesday:
Australia building permits, Japan consumer confidence.
Germany industrial orders, France consumer confidence, current account, trade balance, imports, exports, UK Halifax house prices, EU economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. MBA mortgage application, ADP national employment.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
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Hong Kong
www.acetraderfx.com
AceTraderFx Jan 08: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 08 Jan 2020 09:30GMT

USD/JPY - 108.43
Despite the greenback's selloff to a 12-week trough at 107.66 on escalating US-Iran conflict after Iran fired missiles on U.S. airbase in Iraq, subsequent strong rebound suggests decline from December's 6-month peak at 109.72 has made a temporary low there and choppy trading with mild upside bias would be seen, however, resistance at 108.62 should remain intact and yield retreat later.

On the downside, only below 107.66 would revive bearishness for weakness to 107.20/30 but loss of momentum would keep price above 106.97, bring correction.

As intra-day jump from 107.66 signals temporary low has been made, expect choppy sideways swings in European morning and pay attention to official response from the U.S. esp. statement by Trump in New York morning later today.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
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www.acetraderfx.com
AceTraderFx Jan 09: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 09 Jan 2020 03:30GMT

EUR/USD - 1.1111
Yesterday's break of last week's 1.1126 low confirms euro's recent decline from December's 4-1/2 month peak at 1.1239 to correct medium-term upmove has once again resumed and further weakness is envisaged after consolidation, loss of momentum is expected to keep price above 1.1067 sup and bring rebound.

On the upside, only a daily close above 1.1168 signals temporary low is made, however, pivotal res at 1.1206 should remain intact.

Data to be released on Thursday :
Australia AIG construction index, UK BRC retail sales, RICS housing price balance, Australia trade balance, imports, exports, China PPI, CPI, Germany industrial production, exports, imports, trade balance, current account, Swiss retail sales, Italy unemployment rate, EU unemployment rate, Canada house starts, building permits and U.S. initial jobless claims.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 09: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 09 Jan 2020 09:30GMT

USD/JPY - 109.34
Despite the greenback's selloff to a 12-week trough at 107.66 in Asia, subsequent rally to 109.24 in New York after President Trump's statement on Iran suggests decline from December's 6-month peak at 109.72 has made a temporary low there and upside bias remains for gain to 109.55/58, however, aforesaid top would hold on first testing and yield retreat.

On the downside, only below 108.81 (previous resistance) would indicate said recovery has ended instead and turn outlook bearish for weakness to 108.62.

The only data due out fm the U.S. is weekly jobless claims, so market awaits earnestly for Fri's key jobs report. However, do pay attention to speeches n interview of a number of Fed official during U.S. session which may have a short-term impact on price movement (see our EI section for full details).
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 10: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 10 Jan 2020 03:30GMT

EUR/USD - 1.1107
Despite euro's recovery in New York after resumption of recent decline from Dec's 4-1/2 month peak at 1.1239 to 1.1094 yesterday suggests initial consolidation is in store, outlook remains mildly bearish for weakness towards chart objective at 1.1067, loss of downward momentum should keep price above 1.1041.

On the upside, only a daily close above 1.1168 (downbeat U.S. jobs report perhaps) signals low is made, then risk would shift to upside for stronger retracement towards 1.1206 early next week.

Data to be released on Friday :
Japan all household spending, coincident index, leading indicator, Australia AIG services index, retail sales.
Swiss unemployment rate, France industrial output, Italy industrial output.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales and Canada unemployment change, employment rate.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 13 Jan 2020 03:30GMT

EUR/USD - 1.1117
Although euro's strong rebound on Friday from 1.1086 (Europe) to 1.1129 in New York on soft U.S. jobs data suggests recent decline from December's 4-1/2 month peak at 1.1239 has made a temporary low and stronger retracement towards 1.1144 (38.2% r) would be seen before prospect of another fall, below 1.1086 would extend to 1.1055/60.

Only above 1.1163/68 would risk gain to 1.1206 but 1.1239 should remain intact and yield retreat.

Data to be released later:
Italy retail sales and UK GDP, industrial output, manufacturing output, construction output, goods trade balance, goods trade balance non-EU on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 13: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 13 Jan 2020 09:30GMT

USD/JPY - 109.65
Dollar's intra-day rebound after retreat from Fri's 109.69 high to 109.44 in New York suggests correction has ended and consolidation with upside bias remains for re-test of Dec's 6-month peak of 109.72, break would extend upmove from Aug's 33-month trough at 104.46 to 110.10/15 but 110.32/37 should hold due to loss of momentum.

On the downside, only below 109.24 signals temporary top is in place and risks weakness to 109.01/05, then 108.62.

Although there will be no economic data from U.S. today, we have a number of Fed officials speaking in New York session, please refer to our EI page for details.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 14: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 14 Jan 2020 03:30GMT

EUR/USD - 1.1132
Despite euro's resumption of recent decline from December's 4-1/2 month peak at 1.1239 to a 2-week bottom of 1.1086 on Friday, subsequent rebound to 1.1146 yesterday suggests temporary trough is in place and consolidation with upside bias remains, above 1.1168 needed to extend to 1.1200/06.

On the downside, only below 1.1086 would risk another fall to 1.1067/70, however, 1.1041 should remain intact.

Data to be released on Tuesday:
New Zealand NZIER business confidence, building permits, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, China exports, imports, trade balance.
U.S. core CPI, CPI, real weekly earnings, redbook, Federal budget.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 15 Jan 2020 03:30GMT

EUR/USD - 1.1128
Despite yesterday's retreat from 1.1144 (Europe) to 1.1105 in New York, subsequent rebound to 1.1134 suggests further choppy trading above last Friday's 2-week bottom at 1.1086 would continue and above 1.1168 would extend gain to 1.1180/85, however, reckon 1.1206 would remain intact.

On the downside, only below 1.1086 would revive bearishness for weakness to 1.1067/70, break, 1.1041.

Data to be released on Wednesday:
New Zealand food price index, Australia westpac consumer survey, Japan machine tool order.
France CPI (EU norm), CPI, Germany GDP, UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output, EU trade balance, industrial production.
U.S. PPI, core PPI.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
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74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 15: Daily Recommendations on Major -USD/JPY



DAILY MARKET OUTLOOK on Major
Update Time: 15 Jan 2020 09:30GMT

USD/JPY - 109.91
Dollar's rally above Dec's 109.72 high to 109.94 on Monday, then to a 7-1/2 month peak at 110.20 at Asian open yesterday suggests medium upmove from Aug's 33-month trough at 104.46 has resumed and subsequent retreat would bring consolidation before prospect of another rise, above 110.20 would extend to 110.50/60.

On the downside, only below 109.72 signals temporary top is in place and risks weakness to 109.44, break, 109.24.

On the data front, U.S. will release MBA mortgage applications at 12:00 GMT, followed by NY Fed manufacturing index, PPI, core PPI at 13:30 GMT. We also have two Fed officials due to speak later in New York session, please refer to our EI page for more details. Also, the United States and China phase one trade deal signing ceremony will take place at 16:30 GMT at the White House.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 16: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 16 Jan 2020 03:30GMT

EUR/USD - 1.1154
Euro's rally on Wednesday from 1.1119 (Europe) and then break of Monday's 1.1146 high to 1.1163 in NY suggests recent upmove from last Friday's 2-week bottom at 1.1086 has resumed and consolidation with mild upside bias would be seen, however, reckon 1.1180/85 would cap upside and yield retreat.

On the downside, below 1.1105 would indicate recovery has ended instead and bring re-test of 1.1086, break, 1.1067/70.

Data to be released on Thursday:
New Zealand retail sales, Japan corp goods price, machinery orders, UK RICS housing price balance, China house price index.
Germany CPI, HICP.
U.S. import prices, export prices, initial jobless claims, Philly Fed manufacturing survey, retail sales ex-autos, retail sales, business inventories, NAHB housing market index.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 16: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 16 Jan 2020 09:30GMT

USD/JPY - 109.96
Despite dollar's retreat from Tuesday's 7-1/2 month 110.20 peak to 109.79 in New York yesterday, subsequent rebound to 110.00 (Reuters) suggests correction has possibly ended and re-test of said resistance would be seen after consolidation, break would extend medium term upmove from 2019 trough at 104.46 (Aug) to 110.67 but 111.00/05 should cap upside.

On the downside, only below 109.72 signals temporary top made and risks stronger retracement towards 109.40/44.

On the data front, U.S. will release a slew of data in New York session, please refer to our EI page for details, however, market focus is on retail sales for December. Also, we have Federal Reserve Board Governor Michelle Bowman scheduled to speak at 15:00 GMT.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 17: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 17 Jan 2020 03:30GMT

EUR/USD - 1.1135
Despite euro's rally from last Friday's 2-week bottom at 1.1086 to 1.1172 yesterday, subsequent retreat to 1.1129 on upbeat U.S. data suggests temporary top made and consolidation with downside bias remains for weakness towards 1.1105 (Tuesday's low), where break would bring re-test of 1.1086.

On the upside, only above 1.1172 would risk another rise to 1.1200/06 before prospect of correction.

Data to be released on Friday:
Australia manufacturing PMI, China industrial output, retail sales, GDP, Japan tertiary industry index.
Swiss producer/import price, France budget balance, Italy trade balance, global trade balance, CPI, CPI (EU norm), EU current account, construction output, HICP, HICP core, UK retail sales, retail sales ex-fuel.
U.S. building permit, housing starts, industrial production, capacity utilization, manufacturing output, JOLTS job openings, University of Michigan sentiment.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 17: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 17 Jan 2020 09:30GMT

USD/JPY - 110.21
Dollar's break above Tue's 110.20 high to a fresh 7-1/2 month peak of 110.28 in Asia today confirms medium term upmove from Aug's 33-month trough at 104.46 has once again resumed and would head towards 110.67 after consolidation, however, reckon 111.00/05 would remain intact and yield correction.

On the downside, below 109.72/79 signals temporary top made and risks stronger retracement to 109.44/50.

Data to be released later:
Swiss producer/import price, France budget balance, Italy trade balance, global trade balance, CPI, CPI (EU norm), EU current account, construction output, HICP, HICP core, UK retail sales, retail sales ex-fuel.
U.S. building permit, housing starts, industrial production, capacity utilization, manufacturing output, JOLTS job openings, University of Michigan sentiment.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 20: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 20 Jan 2020 03:30GMT

EUR/USD - 1.1094
Euro's selloff from Thursday's 1.1172 high to 1.1087 on Friday, then intra-day 1-tick break of previous January's 1.1086 low to 1.1085 bottom (Reuters) in New Zealand suggests recent decline from December's 4-1/2 month peak at 1.1239 has resumed and further weakness to 1.1041/45 would be seen after consolidation.

On the upside, only above 1.1129 would risk stronger retracement to 1.1146, then possibly 1.1172.

Data to be released next week :
UK Rightmove house price index, Japan industrial output, capacity utilization, Germany production prices.
U.S. market holiday on Monday.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 20: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 20 Jan 2020 09:30GMT

USD/JPY - 110.12
Dollar's retreat to 110.05 in New Zealand today suggests medium upmove from August's 33-month trough at 104.46 has made a temporary top at Friday's fresh 7-1/2 month 110.28 peak and range trading would be seen before said rise resumes and head towards 110.67 but 111.05 should cap upside due to loss of momentum.

On the downside, only below 109.94 would risk weakness to 109.79 would risk stronger retarcement to 109.44/48.

U.S. markets are closed today for Martin Luther King Jr. Day holiday, hence no data will be out.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 21: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 21 Jan 2020 03:30GMT

EUR/USD - 1.1095
Euro's fall from 1.1102 (Europe) yesterday and then break of previous Jan's 1.1086 low to a 3-week bottom at 1.1077 suggests recent decline from December's 4-1/2 month peak at 1.1239 has resumed and further weakness towards 1.1041, then 1.1005/10 would be seen after consolidation before prospect of correction.

On the upside, only above 1.1129 would indicate temporary trough made and risk gain to 1.1142/46.

Data to be released on Tuesday:
New Zealand services PMI, Japan Bank of Japan interest rate decision.
France business climate, UK ILO unemployment rate, employment change, average weekly earnings, claimant count, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations, Canada manufacturing sales.
U.S. redbook, and New Zealand GDT price index.
 

AceTRaderForex

Master Trader
Mar 19, 2013
2,785
6
74
Hong Kong
www.acetraderfx.com
AceTraderFx Jan 21: Daily Recommendations on Major -USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 21 Jan 2020 09:30GMT

USD/JPY - 109.94
Dollar's retreat to 109.90 in Asia today after resumption of medium term upmove from Aug's 33-month trough at 104.46 to a fresh 7-1/2 month's 110.28 peak last Friday signals temporary top made and consolidation with mild downside bias would be seen, however, reckon 109.44 would remain intact.

Above 110.28 would extend said rise towards 110.67 before prospect of correction due to loss of momentum.

Data to be released later:
France business climate, UK ILO unemployment rate, employment change, average weekly earnings, claimant count, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations.
Canada manufacturing sales, U.S. redbook, and New Zealand GDT price index.