AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Apr 2019 06:30 GMT

EUR/USD - 1.1283
Although euro has risen after yesterday's fresh 2-week high of 1.1289 to 1.1292 in Asia, suggesting recent erratic upmove from April's 1.1184 bottom remains in force, 'loss of upward momentum' should prevent strong gain above 1.1300 today and reckon previous res at 1.1327/32 should cap intra-day gain and bring strong retreat of aforesaid rise.

On the downside, below 1.1250 (New York low) would be 1st signal temporary top is made and would yield weakness to 1.1230, then 1.1206/10.

On the data front, Germany will release Mar wholesale price index n then EU's industrial production. We have several ECB officials participating in the IMF/World Bank meeting in Washinghton D.C., please refer to our EI section for details.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Apr 2019 05:30 GMT

EUR/USD - 1.1308
Euro's resumption of recent upmove from April's 1.1184 low to a 2-week high of 1.1325 due to active eur/yen demand suggests said rise would head to 1.1375 after consolidation, loss of momentum is expected to cap price at 1.1400 this week and yield retreat.

On the downside, only below 1.1270/80 signals top is in place, then risk would shift to the downside for stronger retracement to 1.1250 and later 1.1230.

There is no eco. data due out from the euro area countries n no EZ officials are scheduled to speak, therefore, funds flow (more eur/yen buying perhaps) will dominate intra-day price swings.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Apr 2019 05:30 GMT

EUR/USD - 1.1305
Although yesterday's retreat from 1.1321 to 1.1298 in lackluster Monday's session suggests further sideways swings below Fri's 2-week high at 1.1325 would continue, as long as 1.1280/90 holds, recent erratic rise from 1.1184 would head to 1.1375, loss of upward momentum should cap price below minor res at 1.1392.

Below 1.1280 signals aforesaid rise has made a temporary top, then risk would shift to the downside for stronger retracement to 1.1250 and later 1.1230.

ON the eco. data, Germany will kick off with ZEW eco. sentiment and current conditions for April, then we have EU's constriction output and ZEW eco. sentiment index. ECB's Nowotny will speak in New York at an event at 13:50GMT.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Apr 17: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 17 Apr 2019 05:30 GMT

EUR/USD - 1.1282
Euro's intra-day brief breach of Tuesday's 1.1280 low (Europe) suggests recent upmove from 1.1184 has made a temporary top at Fri's 2-week high at 1.1325, however, firm break below 1.1270 needed to bring stronger retracement of said move to 1.1250, then later 1.1230, however, reckon 1.1200/10 should remain intact this week.

Above 1.1314 would signal pullback has ended, then price would head to 1.1365/75 before correction occurs due to loss of upward momentum.

On the data front, Italy will kick off with Mar CPI, then EU's current account, Italy's trade balance n followed by EU's trade balance n HICP.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Apr 18: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 18 Apr 2019 06:30 GMT

EUR/USD - 1.1292
Despite yesterday's intra-day rebound from 1.1279 (Australia) to session highs of 1.1324 in European morning, failure to penetrate last Friday's 2-week peak at 1.1325 has led to profit taking in New York and 1.1275/79 needs to hold for recent upmove from Aprl's 1.1184 bottom to head to 1.1375, loss of upward momentum should cap price below 1.1400 this week.

A daily close below 1.1279 signals said rise has made a temporary top, then risk is seen for stronger retracement to 1.1230, however, reckon 1.1200/10 should remain intact.

Today is PMI day in the EZ, Germany will kick off with PPI, France will release Markit mfg and servcies PMIs, then the same from Germany and the the EU, Italy will later finish off with industrial order and industrial sales.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Apr 2019 5:30 GMT

EUR/USD - 1.1252
Although euro's selloff last Thursday due to downside German and EZ PMI data to a 1-week low of 1.1227 suggests early correction from April's 1.1184 bottom has ended at 1.1325, subsequent sideways swings in holiday-thinned Easter Friday and Monday sessions signals range trading would continue until European markets re-open from Easter break.

As 1.1263 (New York high Monday) has capped recovery, bearishness is retained but only below 1.1184 needed to bring re-test of 2019 20-month trough at 1.1177 (Mar).
Only above 1.1279/80 (previous sup, now res) would 'prolong' choppy consolidation and may risk another rise to 1.1300/10.

Although all major European centre will re-open today after the long Easter holiday break, eco. calendar in the EZ is very thin with EU consumer confidence for Apr being the only data which is due out pretty later in the day at 14:00GMT, so funds flow may have a greater impact on intra-day price swings.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Apr 2019 05:30 GMT

EUR/USD - 1.1217
Despite yesterday's expected resumption of recent decline from Apr's 1.1325 to a near 3-week low of 1.1192 due to renewed usd's strength in New York morning, failure to re-test Apr's 1.1184 trough and subsequent rebound to 1.1231 (Australia) suggests initial choppy range trading is in store.

Above 1.1231/36 may risk stronger retracement to 1.1262/63 but 1.3104 should cap upside whilst below 1.1192 would yield re-test of 2019 bottom at 1.1177, break would head to 1.1125/30.

On the eco. data front, France will kick off with business climate, then pay attention to key German Ifo business climate, current conditions n expectations, then lastly, Italy's trade balance.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Apr 25: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 201905:30 GMT

EUR/USD - 1.1148
Yesterday's break of previous 2019 low at 1.1177 (March) to a 22-month trough of 1.1141 after 7 weeks of broad sideways swings suggests medium-term downtrend has finally resumed and price is en route towards next projected downside target at 1.1054 next week.

Today, reckon 1.1200/10 would hold and yield weakness to 1.1100/10 before prospect of a minor correction later.

Data to be released on Thursday :
Australia market holiday, New Zealand market holiday, Japan Bank of Japan interest rate decision, UK CBI trends survey, U.S. durable goods, durables ex-transport, durables ex-defense, initial jobless claims, KC Fed manufacturing index, and Canada average weekly earnings.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Apr 26: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2019 06:30 GMT

EUR/USD - 1.1132
Although euro's recovery in New York session after hitting a fresh 22-month trough at 1.1118 to 1.1154 on short covering suggests initial range trading is in store ahead of release of key U.S. GDP data, as long as 1.1177 (previous 2019 low, now res) holds, medium-term downtrend should head to 1.1085/90 after consolidation, 'loss of downward momentum' is expected to keep price above projected sup at 1.1054.

Only a daily close above 1.1177 confirms temporary low has been made, then risk would shift to the upside for stronger retracement to 1.12320/30 before prospect of retreat.

Bo euro area eco. data is due out today, however, ECB Governing Council member will deliver a speech at Finnish central bank seminar in Helsinki at 08:00GMT.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

AceTraderFx Apr 29: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2019 05:30 GMT

EUR/USD - 1.1149
Although Friday's rebound from a fresh 22-month trough at 1.1112 to 1.1174 in New York on short-covering after robust U.S. GDP but soft inflation data suggests recent downtrend has made a minor low and consolidation is in store initially, as long as 1.1174/77 holds, downside bias remains, below 1.1112 would extend marginal weakness, loss of momentum should limit weakness to 1.1080/90.

Only a daily close above 1.0177 (previous 2019 low in March) signals temporary bottom is in place and risks stronger retracement to 1.1220/30 later this week.

Data to be released later today:
Japan market holiday, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, and U.S. personal income, personal spending, PCE price index, Dallas Fed manufacturing business index on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates