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AceTraderFx Apr 22: Daily Market Outllook on Major -EUR/USD

Discussion in 'Market Predictions and Reports' started by acetraderfx, Apr 21, 2014.

  1. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 17 May 2019 05:30 GMT

    EUR/USD - 1.1177
    Despite euro's resumption of decline from this week's 1.1265 (Monday) high to 1.1168 yesterday due to usd's strength in New York after upbeat U.S. data and rebound in U.S. yields, as price is expected to remain confined inside recent 1.1265-1.1135 range, reckon lower level would hold and yield rebound later today or Monday.

    On the upside, a daily close above 1.1200 would be the 1st signal low is made and price would head back to 1.1225, then 1.1244/46.

    Data to be released on Friday :
    New Zealand manufacturing PMI, PPI inputs, PPI outputs, EU construction output, HICP, and U.S. leading indicator, University of Michigan sentiment.

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  2. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 20 May 2019 05:30 GMT

    EUR/USD - 1.1166
    Euro's resumption of decline from last week's 1.1265 high (Mon) to an 11-day trough of 1.1155 on Friday due to usd's strength after upbeat U.S. consumer confidence suggests downside bias remains, however, as price is likely to remain confined inside recent broad range of 1.1265-1.1135, only below lower level would yield re-test of April's 22-month bottom at 1.1112.

    On the upside, above 1.1200 would add credence to consolidative outlook and would head back to 1.1225, then later 1.1241/46.

    On the data front, Germany will kick off with PPI, then the EU will release current account. ECB's Chief Economist will speak at an event in London at 08:00GMT n Germany's ECONMIN Altmaier will speak at an economic forum in Brandenburg at 11:30GMT.

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  3. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 21 May 2019 05:30 GMT

    EUR/USD - 1.1166
    Despite euro's resumption of decline from last week's 1.1265 high (Mon) to a 2-week low of 1.1151 yesterday, as price is likely to remain confined inside recent broad range of 1.1265-1.1135, indicated lower level would hold and yield rebound.

    Above 1.1184 would bring gain to 1.1200, break there adds credence to consolidative outlook and would head back towards 1.1225. Only below 1.1135 risks weakness towards 1.1112.

    Eco. calendar in the euro area countries is thin today with EU consumer confidence being the only data due out in New York morning. However, we have ECB's Hakkarainen n ECB's Vice President Guindos speaking in European morning.

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  4. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 22 May 2019 05:30 GMT

    EUR/USD - 1.1165
    Despite falling to a marginal 2-week low of 1.1142 (Europe), euro's intra-day cable-led brief bounce to 1.1188 in New York suggests price would 'gyrate' inside recent 1.1265-1.1135 broad range and a daily close above said Tuesday's high would add credence to this consolidative view and would head back to 1.1265, however, reckon 1.1265 would cap upside.

    Below 1.1135 any time would risk re-test of April's 22-month bottom at 1.1112, break there would extend Medium Term downtrend to 1.1060/70 later this week.

    Data to be released on Wednesday :
    New Zealand retail sales, Japan machinery orders, exports, imports, trade balance, UK CPI, RPI, PPI input prices, PPI output prices, PSNB, PSNCR, U.S. MBA mortgage application, FOMC minutes, and Canada retail sales.

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  5. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 23 May 2019 05:30 GMT

    EUR/USD - 1.1150
    Despite falling to a marginal 2-week low of 1.1142 on Tue, subsequent brief bounce to 1.1188 and yesterday's sideways swings in directionless trading suggests price would 'gyrate' inside recent 1.1265-1.1135 broad range and a daily close above said Tuesday's high would add credence to this consolidative view and would head back to 1.1265, however, reckon 1.1265 would cap upside.

    Below 1.1135 any time would risk re-test of Apr's 22-month bottom at 1.1112, break there would extend MT downtrend to 1.1060/70 later this week.

    Data to be released on Thursday :
    Australia manufacturing PMI, services PMI, Japan Nikkei manufacturing PMI.
    France business climate, Markit manufacturing PMI, Markit services PMI, Germany GDP, Markit manufacturing PMI, Markit services PMI, Ifo business climate, Ifo current conditions, Ifo expectations, Swiss industrial production, EU Markit manufacturing PMI, Markit services PMI.
    Canada wholesale trade, and U.S. building permits, initial jobless claims, Markit manufacturing PMI, Markit services PMI, new home sales, KC Fed manufacturing index.

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  6. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major

    Update Time: 24 May 2019 05:30 GMT

    EUR/USD - 1.1178
    Despite euro's intra-day brief break of previous 2019 low at 1.1112 to a 2-year trough of 1.1108, subsequent impressive rally to 1.1187 due to usd's broad-based weakness on initial selloff in U.S. stocks and falling yields suggests temporary bottom is in place and 1-2 days of choppy consolidation with upside bias is in store.

    Above this week's 1.1188 high (Tuesday) would bring stronger retracement to 1.1225, however, near term o/bot condition should cap price below May's peak at 1.1265.

    Data to be released on Friday :
    New Zealand imports, trade balance, exports, Japan national CPI, UK retail sales, CBI distributive trades, and U.S. durable goods, durables ex-transport, durables ex-defense.

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  7. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 27 May 2019 05:30 GMT

    EUR/USD - 1.1210
    Although euro's resumption of near term upmove from last Thursday's 2-year bottom at 1.1108 to 1.1212 Friday due to broad-based usd's weakness confirms Medium Term downtrend has made a temporary low, o/bot condition should prevent strong gain today and reckon previous res 1.1265 (April's high) would cap upside and yield retreat later today or tomorrow.

    On the downside, only below sup area at 1.1173/79 signals 1st leg of correction is over and yields retracement to 1.1145/55 before prospect of rebound.

    No eco. data is due out from the euro area, so order flows will have a greater impart to intra-day price swings. ECB's Coeure will be delivering a speech organised by BIS in Basel, Switzerland.

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  8. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 28 May 2019 06:00 GMT

    EUR/USD - 1.1195
    Despite extending near term upmove from last Thursday's 2-year bottom at 1.1108 to 1.1215 (Asia) yesterday, subsequent retreat to 1.1187 after reports the EC may fine Italy for exceeding its debt level suggests 1st leg of correction has ended and range trading is in store.

    As long as 1.1155 holds, gain to 1.1225/35 is seen but res at 1.1265 should cap upside.
    Only below 1.1155 may risk weakness to 1.1115/20.

    On the data front, Germany will kick off with Gfk copnsumer confidence and import prices, France's consumer confidence, Italy's trade balance, the followed by EU's consumer confidence, business climate, eco. sentiment, industrial and services sentiment.

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  9. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 29 May 2019 05:30 GMT

    Update Time: 29 May 2019 01:17 GMT
    EUR/USD - 1.1169
    Euro's decline to 1.1160 in New York yesterday after upbeat U.S. consumer confidence suggests the 1st leg of correction from last Thursday's 2-year bottom at 1.1108 has ended at 1.1215 (Monday) and 1-2 days of choppy sideways swings are in store before prospect of another rise to 1.1225 but loss on momentum should cap price below res at 1.1265.

    Only below 1.1224 signals correction is over, then risk would shift to the downside for re-test of 1.1108 and later towards projected target at 1.1054.

    Data to be released on Wednesday :
    New Zealand NBNZ business outlook, NBNZ own activity, UK BRC shop price index, Germany unemployment change, unemployment rate, France consumer spending, GDP, CPI, producer prices, Swiss KOF indicator, investor sentiment, Italy business confidence.
    U.S. redbook, Richmond Fed manufacturing index, Fed's beige book, and Canada Bank of Canada interest rate decision.

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  10. acetraderfx

    acetraderfx AceTrader.com Representative

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    AceTraderFx May 30: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 30 May 2019 05:30 GMT

    EUR/USD - 1.1140
    Although euro's decline from 1.1215 (Mon) to 1.1124 yesterday's due to market concerns on Italy's clash with the European Commission over its debt level suggests early correction from last Thursday's 2-year bottom at 1.1108 has ended, below said sup is needed to extend MT downtrend towards next projected target at 1.1054 next week.

    On the upside, a daily close above 1.1160 would 'prolong' choppy trading above said 2019 bottom, then risk would shift to the upside for another rise towards 1.1215.

    Data to be released on Thursday :
    New Zealand building permits, Australia capital expenditure, building capex.
    Swiss market holiday, UK nationwide house price.
    U.S. GDP, PCE, trade balance, wholesale inventories, initial jobless claims, pending home sales, and Canada current account, average weekly earnings

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