AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Dec 2018 05:30 GMT

EUR/USD - 1.1412
Friday's intra-day erratic rise to a fresh 2-week high of 1.1423 due to usd's broad-based weakness after downbeat U.S. NFP suggests consolidation with upside bias remains but above 1.1472 res needed to retain bullish prospect for early rise from 2018 bottom at 1.1216 (November) to head to next daily obj. at 1.1500 later.

On the downside, only below near term good sup at 1.1359/60 signals temporary top is in place and may risk stronger retracement to 1.1320/30.

A government source said on Friday that the Italian ruling coalition aimed to send a revised budget to the EU on Wednesday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Dec 2018 05:30 GMT

EUR/USD - 1.1364
Despite extending last week's upmove to a fresh 2-week high of 1.1443 initially in Asia on Monday, subsequent 'cable-led' selloff to as low as 1.1350 in New York partly due to renewed usd's strength suggests recent erratic rise from 1.1267 has made a top there an stronger retracement to 1.1305/11 sup area can't be ruled out before prospect of rebound due to near term oversold condition.

On the upside, a daily close above 1.1400 suggests pullback is over and would head back towards 1.1443 but key res at 1.1472 should remain intact.

Euro area countries will release a slew of eco. data starting with France's non-farm payrolls, then EU's Sentix economic sentiment. ECB Vice President Guindos will deliver a speech in Frankfurt, then ECB's Angeloni.

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

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

EUR/USD - 1.1331
Yesterday's anticipated decline from 1.1400 to as low as 1.1306 led by intra-day selloff in cable and then renewed usd's strength in New York suggests recent erratic rise from 1.1267 has made a top at 1.1443 (Monday) and downside bias remains for weakness towards 1.1267, however, November's 20-month trough at 1.1216 should continue to hold this week.

On the upside, only a daily close above 1.1350 (Monday's low, now res) would prolong choppy sideways swings, then risk is seen for another rebound towards 1.1400 but 1.1443 should cap upside.

Euro area eco. calendar is pretty light today with EU's Oct industrial production being the only data due out. UK embattling PM Theresa May will meet with European Council President Donald Tusk in Brussels on Brexit agreement at 16:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Dec 2018 05:30 GMT

EUR/USD - 1.1369
Yesterday's intra-day cable-led rebound in Europe, then subsequent gain to 1.1388 on positive Italy's budget news suggests euro's fall from 1.1443 (Mon) has made a low at 1.1306 Tuesday and choppy trading with upside bias is seen ahead of ECB's rate decision and Draghi's presser.

Above 1.1400 may head back towards 1.1443 buy previous daily res at 1.1472 should cap upside whilst below 1.1305/06 sup would shift risk to downside for subsequent weakness towards 1.1267.

Data out on Thursday :
New Zealand food price index, UK RICS housing price balance.
Germany CPI, HICP, France CPI, Swiss producer/import price, SNB interest rate decision, EU ECB interest rate decision, ECB deposit rate decision, EU summit on budget and Brexit.
U.S. import prices, export prices, initial jobless claims, and Canada new housing price index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Dec 2018 04:30 GMT

EUR/USD - 1.1360
Despite euro's initial gain to 1.1293 (Europe) yesterday following early decline from Mons 1.1443 high to 1.1306 (Tuesday), subsequent brief but sharp retreat to 1.1331 after mildly dovish forward guidance by ECB's Draghi suggests choppy trading with downside bias remains, below 1.1305/06 sup needed to extend said fall towards next chart obj. at 1.1267.

On the upside, only above 1.1393/00 res would revive bullish prospect of another rise to 1.1430/40.

Today is PMI day in the euro area n EZ will release a slew of eco. data, please refer to our EI section for details.
Pay attention to EU officials' comments as today is the second day of the 2-day EU summit on EU budget n Brexit. ECB's Draghi will participate in the EC meeting in Brussels and ECB's Angeloni will speak at a financial conference in Rome at 13:30GMT.

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

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

EUR/USD - 1.1379
Although yesterday's anticipated gain to a 1-week high of 1.1402 (Europe) suggests choppy trading inside recent broad range of 1.1267-1.1443 would continue with upside bias, subsequent retreat to 1.1350 in New York would bring sideways swings before up, loss of momentum would cap price below last week's high at 1.1443 ahead of key Fed's rate decision.

On the downside, below 1.1330/37 sup signals top is made and risk would shift to the downside for weakness to 1.1300, break, 1.1270/75.

Data to be released on Wednesday :
New Zealand Westpac consumer survey, current account, Australia Westpac leading index, Japan exports, imports, trade balance, all industry activity index, Germany producer prices, UK DCLG house price index, CPI, RPI, PPI input prices, PPI output prices, EU construction output.
Canada CPI, and U.S. MBA mortgage application, current account, existing home sales, Fed interest rate decision.

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

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

EUR/USD - 1.1377
Although euro extended near term strong rise from last week's low at 1.1370 to a one-week high of 1.1440 yesterday, subsequent decline in post-FOMC after expected Fed's rate hike and less dovish statement suggests price would continue to 'gyrate' inside recent 1.1216-1.1472 broad range with downside bias, below 1.1300/10 needed to retain bearishness for weakness towards 1.1270 next week.

On the upside, only above 1.1440/43 res would revive bullish prospect of further gain towards key daily res at 1.1472.

Data to be released on Thursday:
New Zealand GDP, imports, trade balance, exports, Australia employment change, unemployment rate, Japan BoJ interest rate decision.
Swiss trade balance, exports, imports, Italy producer prices, EU current account, UK retail sales, CBI distributive trade, 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. initial jobless claims, Philadelphia Fed survey, leading indicator, and Canada average weekly earnings, wholesale trade.

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Dec 2018 05:30 GMT

EUR/USD - 1.1449
Yesterday's break of daily res at 1.1472 to a 5-week high of 1.1486 confirms recent rise from Nov's 16-month trough at 1.1216 has finally resumed and despite intra-day sharp retreat to 1.1403 on usd's brief rebound due to selloff in U.S. stocks, subsequent rise back to 1.1485 signals said upmove would head to 1.1500 target 'after' choppy consolidation, however, reckon 1.1550 would remain intact.

Only a daily close below 1.1403 indicates temporary top is in place, then risk would shift to the downside for stronger retracement to 1.1365, then 1.1337.

Data to be released on Friday :
UK GfK consumer confidence, GDP, current account, PSNB, PSNCR, German GfK consumer sentiment, France business climate, consumer spending, producer prices, Italy business confidence, consumer confidence.
U.S. durable goods, durables ex-transport, durables ex-defense, GDP, PCE, personal income, personal spending, University of Michigan sentiment, Canada GDP, retail sales, and EU consumer confidence.

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AceTraderFx Dec 24: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 24 Dec 2018 05:30 GMT

EUR/USD - 1.1378
Euro's selloff from 1.1475 (Europe) to as low as 1.1355 in New York session on Friday due to active safe & have usd and yen buying suggests recent erratic upmove has made a top at Thursday's 5-week high at 1.1486 and consolidation with downside bias is seen for weakness to 1.1330/35, oversold condition is likely to keep price above 1.1306/07 on this holiday-thinned Monday trading.

On the upside, only above 1.1400/10 signals pullback has possibly ended instead and may risk stronger gain to 1.1430/40 but 1.1486 top is expected to remain intact.

Data to be released today:
Japan market holiday and U.S. national activity index on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Dec 2018 05:30 GMT

EUR/USD - 1.1377
Euro's weakness to 1.1344 yesterday in New York due to broad-based usd's rebound in reaction to a near 5% jump on Wall Street suggests recent erratic rise from 2018 bottom at 1.1216 (November) has made a top at last Thursday's 5-week peak at 1.1486 and consolidation with downside bias is seen for stronger retracement to 1.1300/10, reckon pivotal sup at 1.1267/70 would remain intact.

On the upside, only a daily close above 1.1439 (Monday) signals pullback is over and risks another rise towards 1.1486 later.

No euro area eco. data is due out except EU's economic bulletin, so expect range trading to continue in European morning until NY market opens later in the day.

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