AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 20 Nov 2018 05:30 GMT

EUR/USD - 1.1449
Yesterday's anticipated gain to 1.1465 in New York due to continued usd's weakness suggests recent strong rise from Nov's 16-month bottom at 1.1216 would head towards next daily chart obj. at 1.1500 after consolidation, loss of upward momentum should cap price below 1.1550.

On the downside, only a daily close below 1.1394 sup signals temporary top is made, then risk is seen for stronger retracement to 1.1369 but sup at 1.1321/22 should remain intact.

On the eco. data front, France will kick off with France's unemployment and then Germany's producer prices. e have a number of ECB officials speaking today (pls refer to our EI section for details).

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Nov 2018 06:30 GMT

EUR/USD - 1.1369
Despite yesterday's resumption of recent rise from November's 16-month trough at 1.1216 to 1.1472, subsequent selloff to as low as 1.1359 due initially to renewed market concerns on Italian budget and then usd's broad-based strength in New York suggests 1st leg of correction over and would head to 1.1321/22, oversold condition should keep price above pivotal sup at 1.1271.

Expect 1.1421/23 to cap intra-day recovery and yield another fall and only above 1.1439/43 signals retracement from 1.1472 is over.

No eco. data is due out from the euro are countries, so all eyes are on the European Commission disciplinary report on Italy, so stay tuned.

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AceTraderFx Nov 22: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 22 Nov 2018 05:30 GMT

EUR/USD - 1.1387
Euro's decline from Tuesday's 12-day high at 1.1472 to 1.1359 the same day suggests recent upmove from November's 16-month bottom at 1.1216 has made a temporary top there and as price has retreated after yesterday's recovery to 1.1425, downside bias remains for stronger retracement of said rise towards 1.1321, 'loss of momentum' should keep price well above pivotal sup at 1.1271.

On the upside, only a daily close above 1.1425 would signal pullback has ended, then risk is seen for a re-test of 1.1472 later.

The eco. calendar in the euro area countries is very light with France's Nov business climate being the only data due out at 07:45GMT.
Pay attention to release of ECB minutes of last policy meeting at 12:30GMT. Also, a no. of ECB officials are scheduled to speak (please refer to our EI section for details) and their comments may well cause the euro to swing a bit.

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AceTraderFx Nov 23: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 23 Nov 2018 05:30 GMT

EUR/USD - 1.1402
Euro's decline from this week's 1.1472 (Tue) high to 1.1359 suggests recent upmove has made a temporary top there and despite staging a rebound to 1.1434 in Europe yesterday, subsequent retreat suggests consolidation with downside bias remains, below 1.1359 would extend marginal weakness, loss of momentum should keep euro above 1.1321/22 sup.

Only a daily close above 1.1434 signals pullback over and risks re-test of 1.1472, then towards 1.1500 early next week.

Data out on Friday :
Japan market holiday, Nikkei manufacturing PMI, Germany GDP, Markit manufacturing PMI, Markit services PMI, France Markit manufacturing PMI, Markit services PMI, Italy trade balance, EU Markit manufacturing PMI, Markit services PMI.
Canada CPI, retail sales, and U.S. Markit manufacturing PMI, Markit services PMI.

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AceTraderFx Nov 27: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 27 Nov 2018 06:30 GMT

EUR/USD - 1.1330
As yesterday's intra-day roller-coaster moves ended with euro falling from 1.1384 (Europe) to 1.1324 near New York close following ECB Draghi's mildly dovish comments in New York and usd's renewed strength, suggesting erratic fall from last week's 1.1472 high would pressure price to 1.1300, loss of momentum should keep euro above pivotal sup at 1.1271.

On the upside, only a daily close above 1.1384 signals correction is over and heads back towards 1.1434 later this week.

The euro area countries will release a slew of eco. data starting with Germany's import price index, France's consumer confidence n PPI then Italy's business n consumer confidence. We also have ECB Board members Nouy and Mersch speaking at 15:00GMT n 16:00GMT respectively.

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AceTraderFx Nov 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 28 Nov 2018 05:00 GMT

EUR/USD - 1.1292
Although yesterday's resumption of recent erratic decline to an 11-day trough of 1.1278 in New York and intra-day softness suggests intra-day downside bias remains for marginal fall after consolidation, lots of downward momentum should keep euro well above Nov's 16-month bottom at 1.1216 and bring rebound later today or tomorrow.

On the upside, a daily close above 1.1344 would be the 1st signal decline from 1.1472 has made a low and would head towards 1.1384 later this week.

On the data front, Germany will kick off with Gfk consumer confidence, then France's PPI n Italy's OOI. We have a no of ECB officials speaking in Europea morning, pls refer to our EI section for details.

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AceTraderFx Dec 03 : Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 03 Dec 2018 05:20 GMT

EUR/USD - 1.1339
Despite euro's rally from last week's 1.1267 low to 1.1402 (Thursday), subsequent weakness to 1.1305 on Friday suggests choppy sideways swings are likely to continue.

Intra-day retreat after initial higher open to 1.1368 on temp. ceasefire of US/China trade dispute would bring consolidation, above 1.1368 would encourage for a move back towards 1.1402 whilst below 1.1305 may risk weakness towards 1.1267.

Today is PMI day in the euro area countries, please refer to our EI section for details of eco. releases. The Eurogroup is meeting today where ECB's Draghi n Coure will participate, also, euro FinMins are meeting in Brussels, so keep a eye n ears open for comments by the officials.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Dec 2018 05:30 GMT

EUR/USD - 1.1354
Despite euro's decline from 1.1402 to 1.1305 last week, subsequent erratic rise to 1.1380 (Europe) on Monday suggests choppy trading above 1.1267 would continue with upside bias, above 1.1380 would bring re-test of 1.1402 and break there would extend said rise towards 1.1432 later.

Only a daily close below 1.1305 signals correction over and risk would shift to downside for weakness towards 1.1257.

The eco. data calendar is pretty light today with France's budget balance n then EU's PPI being the only 2 data due out during European morning. The EU FinMins' meeting starts at 08:00GMT today n ECB's Vice President Gundos will particiapte in ECONFIN meetig.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Dec 2018 05:30 GMT

EUR/USD - 1.1348
Euro's decline from Tuesday's 10-day high at 1.1420 to as low as 1.1311 yesterday suggests early erratic rise from last week's 1.1267 bottom has ended and although subsequent rebound in holiday-thinned North American trading would bring sideways swings in Asia, intra-day selloff in Asian stocks should prompt USD buying as safe-haven currency.

Below 1.1305/11 sup would pressure price towards 1.1267 and only above 1.1380/90 'prolongs' choppy consolidation, risks another rise towards 1.1420 later.

Euro zone eco. calendar is pretty light today, Germany will release industrial orders n then we have France's current account. There is a ECB General Council meeting at 08:00GMT so we may have some comments from ECB officials during the day.

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Dec 2018 05:30 GMT

EUR/USD - 1.1377
Despite yesterday's initial weakness to 1.1321, subsequent rally to 1.1412 suggests this week's daily wild swings would continue inside recent broad range of 1.1216-1.1472, above this week's high at 1.1420 would extend marginal gain but indicated upper level should cap upside.

On the downside, below 1.1305/11 sup would shift risk to downside and yield subsequent decline towards 1.1267.

Eco calendar in the euro area countries is pretty heavy, please refer to our EI section for details.

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