AceTraderFx: Daily Market Outllook on Major -EUR/USD

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AceTraderFx Nov 01: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 01 Nov 2018 05:20 GMT

EUR/USD - 1.1341
Despite yesterday's anticipated weakness to a 2-1/2 month low of 1.1303 in NY due to continued usd's strength, buying interest above 2018 bottom at 1.1301 (Aug) has lifted price and intra-day 'cable-led' recovery suggests range trading is in store in European morning until New York open and gain to 1.1360 is likely, reckon 1.1388 would cap upside and yield another probe at 1.1300 level where a break there would pressure euro to 1.1340/50 later.

Only above 1.1388 would risk stronger retracement of recent decline to 1.1416/21 before prospect of retreat.

No eco. data is due out from the euro area countries n euro may be influenced by intra-day price swings in cable until New York open. If the greenback regains traction on upbeat U.S. data, then expect another probe at aforesaid key 1.1301 sup later today.

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AceTraderFx Nov 02: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 02 Nov 2018 05:20 GMT

EUR/USD - 1.1397
Although euro's rally from Wed's 2-1/2 month trough of 1.1303 to as high as 1.1424 in New York yesterday due to usd's broad-based usd's strength suggests recent decline has made a low there and sideways swings are expected ahead of release of key U.S. jobs data, a daily close above previous res at 1.1432 needed to turn outlook bullish for stronger retracement towards 1.1494, then possibly to 1.1550 later next week.

On the downside, below 1.1350/60 signals rebound is over and risk would shift to downside for test of key 2018 13-month bottom at 1.1301.

Data to be released later on Friday :
UK BRC retail sales, Markit construction PMI, Australia PPI, retail sales, Germany import prices, Markit manufacturing PMI, France budget balance, Markit manufacturing PMI, Swiss retail sales, Italy Markit manufacturing PMI, EU Markit manufacturing PMI.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, ISM New York index, durable goods, factory orders, and Canada employment change, unemployment rate, trade balance, exports, imports.

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

MARKET OUTLOOK on Major
Update Time: 05 Nov 2018 06:00 GMT

EUR/USD - 1.1397
Despite euro's impressive rally from last Wednesday's 2-1/2 month trough of 1.1303 to as high as 1.1456 (Europe) on Friday, subsequent strong retreat to 1.1373 in New York after upbeat U.S. jobs data suggests 1st leg of correction has ended and choppy consolidation is in store, as long as 1.1350/60 holds, upside bias remains for another bounce towards 1.1456 but break needed to retain bullishness for further headway towards 1.1494.

Only below 1.1336 signals said correction is over, then risk would shift to downside for weakness towards key sup at 1.1301 (2018 bottom in August).

The only eco. data due out fm the euro area countries is EU's Sentix investors' index. EU FinMins are meeting in Brussels today at 14:00GMT, ECB's Coeure n Nouy will speak at Eurogroup meeting in meeting. Also, ECB VP de Guindos will soeak at a seminar at 13:00GMT. ECB's de Guindos, Praet n Smets are scheduled to speak in Brussels later today too.

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

MARKET OUTLOOK on Major
Update Time: 07 Nov 2018 06:30 GMT

EUR/USD - 1.1444
Despite euro's initial brief break of Fri's 1.1456 top to a 2-week high of 1.1473 on news of U.S. Democrat's lead in the House election, intra-day selloff to 1.1396 suggests early upmove from Oct's 2-1/2 month trough at 1.1303 has possibly made a temporary top and choppy sideways swings are in store.

Below 1.1392/96 would bring stronger retracement to 1.1355/65 before rebound whilst above 1.1476 would extend said rise towards 1.1494 later today

Data to be released later on Wednesday :
Germany industrial output, UK Halifax house prices, Italy retail sales, EU retail sales, U.S. MBA mortgage application, and Canada Ivey PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Nov 2018 05:30 GMT

EUR/USD - 1.1431
Euro's decline from Wednesday's 2-week high of 1.1550 (Europe) to 1.1424 in New York due to renewed usd's strength on easing of market concern of a political gridlock in Washington suggests 1st leg of correction from October's 2-1/2 month bottom at 1.1303 has ended and 'choppy' sideways swings are in store.

Expect 1.1392/95 sup to contain intra-day weakness but above 1.1473 is needed to re-test 1.1500. Only below 1.1373 risks stronger retacement towards 1.1336.

On the eco. data front, Germany will release import n export data, trade balance n current account, then the same set of trade data from France. The EU will release eco. bulletin as well as eco. growth forecasts. ECB's Draghi will speak in Dublin at 15:20GMT and ECB Board members Coeure and Nowotny will also be speaking in Euroepan afternoon/New York morning.

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

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

EUR/USD - 1.1326
Fri's weakness to 1.1316 due to continued usd's strength following Fed's hawkish hold on Thursday suggests re-test of 2018 13-month bottom at 1.1301 (Aug) would be seen, below 1.1300 would encourage for resumption of Medium Term downtrend towards 1.1444 later this week.

Only above 1.1369 prolongs choppy sideways swings and risks another rise to 1.1392/95, however, reckon 1.1447 should remain intact.

Data to be released later :
France ILO unemployment, and Italy industrial output on Monday.
U.S. markets are closed for Veterans Day holiday and markets in Canada are also closed for Remembrance Day holiday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Nov 2018 06:30 GMT

EUR/USD - 1.1304
Euro's intra-day break above yesterday's 1.1294 (New York) to 1.1320 in Australia suggests recent downtrend has made a temporary bottom at Monday's 16-month bottom at 1.1216 and as long as 1.1253 (New York low) holds, stronger gain to 1.1332 is envisaged.
However, near term overbought condition should cap price at previous res area at 1.1360/69 and yield decline later today or tomorrow.

On the downside, below 1.1253 anytime signals correction is over, then euro will be en route towards next downside retracement target at 1.1187.

On the data front, the euro area countries will release a slew of data starting with Germany's flash GDP, France's final CPI, EU's employment change, GDP and industrial production. ECB Board member Weidmann will deliver a speech on economic challenges in Berlin at 08:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Nov 2018 05:30 GMT

EUR/USD - 1.1320
Although yesterday's 'cable'led' rise to 1.1348 on Brexit deal optimism suggests recent downtrend has made a temporary low at Monday's 16-month trough at 1.1216, reckon previous res area at 1.1360/69 would cap present recovery and yield strong retreat later.

Below sup at 1.1253/63 signals said correction is over, then bearishness is seen for re-test of 1.1216.

On the eco. data front, EU will release second-tier trade balance. ECB's Coeure will speak at a conference in Basel at 12:15GMT, then ECB Chief Economist Praet will speak in Brussels at 13:10GMT and ECB VP Guindos will speak in Amsterdam at 14:35GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Nov 2018 05:30 GMT

EUR/USD - 1.1341
Despite yesterday's cable-led weakness to 1.1271 in Europe, subsequent rally to 1.1362 in New York due to cross-buying in euro esp. vs sterling suggests choppy trading above Mon's 16-month bottom at 1.1216 would continue, as long as res at 1.1369 holds, consolidation with downside bias remains.

Below 1.1271 would encourage for weakness towards 1.1216 next week whilst a firm break above 1.1369 may risk stronger correction to 1.1400/04 and possibly towards 1.1447 next Monday.

The euro area countries will release a slew of eco. data in Eurpean morning (please refer to EI section for details).
Pay attention to speech by ECB President Draghi at Frankfurt European Banking Congress at 08:30GMT, then ECB Board member Weidmann will speak at a conference in Frankfurt at 13:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Nov 2018 05:30 GMT

EUR/USD - 1.1408
Euro's impressive rally above indicated res area at 1.1362/69 to as high as 1.1421 due to usd's weakness in New York on Friday confirms Medium Term downtrend has made a low at last Monday's 16-month bottom at 1.1216 and upside bias remains for gain to 1.1450/60, however, reckon daily res at 1.1500 should hold.

On the downside, only a daily close below 1.1369 signals 1st leg of correction is over and risks stronger retracement to 1.1310/20.

Data to be released later day :
New Zealand PPI, Japan exports, imports, trade balance, UK Rightmove house price, EU current account, construction output and U.S. NAHB housing market index.

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