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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 31: Daily Recommendations on Major -EUR/USD

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 31 May 2019 05:30 GMT

    EUR/USD - 1.1138
    Although euro's fall from this week's high at 1.1265 (Monday) to as low as 1.1116 in New York on Thursday suggests early correction from May's 2-year bottom at 1.1108 has ended, below 1.1100/08 sup area needed to extend recent downtrend to projected downside target at 1.1054 next week.

    On the upside, a daily close above 1.1160 would 'prolong' choppy sideways swings above 1.1108 and yield another rise to 1.1200/10 but res at 1.1225 would cap upside.

    The euro area countries will release a slew of eco. data, pls refer to our EI page for details.

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  2. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 03 Jun 2019 05:30 GMT

    EUR/USD - 1.1179
    Euro's intra-day gain to 1.1181 on Friday due to broad-based weakness in usd on falling U.S. yields and stocks suggests further choppy trading above May's 2-year bottom at 1.1108 would continue with upside bias for stronger gain to 1.1215/25.
    However, break there is needed to retain bullishness for subsequent headway to 1.1240/50.

    Only a daily close below 1.1138 (New York low) dampens bullish view and risks weakness towards 1.1116 but 1.1108 should remain intact.

    Today is PMI day in the euro area countries, Italy will kick off with Markit mfg PMI, then the same from France, Germany and the EU, if these PMI readings come out higher than market estimates, then euro will extend Friday's gain, if not, expect a minor pullback before prospect of another rise later in the day.

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  3. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 04 Jun 201905:30 GMT

    EUR/USD - 1.1248
    Euro's rally from 1.1160 (Europe) to 1.1162 due to dovish comments by Fed's Bullard in New York afternoon confirms Medium Term downtrend has made a temporary low at May's 22-month bottom at 1.1108 and as long as 1.1215/25 (previous res, now sup) holds, re-test of May's 1.1265 would be forthcoming next, break would extend to 1.1300/04, overbought condition should cap price at 1.1325 today.

    Only below 1.1215 signals temporary top is in place, then risk would shift to the downside for stronger retracement to 1.1190, then 1.1157/60.

    Data to be released on Tuesday :
    New Zealand trade balance, import prices, export prices, Australia current account, retail sales, RBA rate decision, France budget balance, Italy unemployment rate, UK BRC retail sales, construction PMI, EU HICP, core HICP, unemployment rate, U.S. redbook retail sales, ISM NY index, durable goods and factory orders.

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  4. acetraderfx

    acetraderfx AceTrader.com Representative

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

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

    EUR/USD - 1.1264
    Euro's intra-day firmness in Asia following retreat from Tuesday's 1-month high at 1.1277 (Europe) to 1.1227 in New York suggests pullback has ended and recent upmove would head to 1.1300/04 after consolidation, however, loss of upward momentum should cap price below res at 1.1325 and risk has increased for a much-needed correction to occur later today or tomorrow.

    A daily close below 1.1227 signals 1st leg of correction from 1.1108 has ended and yields weakness to 1.1157/60.

    Today is PMI day in the euro area countries, Italy will kick off with Martkit services PMI, then the same from France and Germany, the EU will release PPI and retail sales.

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  5. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 06 Jun 2019 05:30 GMT

    EUR/USD - 1.1226
    Despite Wed's anticipated resumption of recent upmove from 2019 22-month bottom at 1.1108 (May) to a 1-month high of 1.1306 at New York open after weak U.S. ADP private payrolls data, subsequent decline to as low as 1.1220 near New York close due to broad-based usd's rally on short covering signals temporary top has been made and downside bias remains for stronger retracement to 1.1160/70.

    Only above 1.1306 risks marginal gain to 1.1325, loss of momentum should cap price at 1.1345/50 and yield decline.

    Ahead of ECB's rate decision and post-ECB press conference, the euro area will release a slew of eco. data (please refer to our EI page for details).

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  6. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 10 Jun 2019 05:30 GMT

    EUR/USD - 1.1312
    Euro's intra-day retreat due to usd's broad-based recovery in Asia following Fri's rally to a 10-week high of 1.1347 suggests range trading is in store before prospect of marginal gain, near term loss of upward momentum should cap price at 1.1385/95.

    A firm break below 1.1300 would be the first signal temporary top is made, then risk would shift to the downside for stronger retracement towards 1.1252 later.

    Italy is open today and will release industrial output. We also have ECB Vice President Guindos speaking at a business forum in Madrid at 12:15GMT.

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  7. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 11 Jun 2019 05:30 GMT

    EUR/USD - 1.1312
    Euro's intra-day retreat due to usd's broad-based recovery in Asia following Friday's rally to a 10-week high of 1.1347 suggests range trading is in store before prospect of marginal gain, near term loss of upward momentum should cap price at 1.1385/95.

    A firm break below 1.1300 would be the first signal temporary top is made, then risk would shift to the downside for stronger retracement towards 1.1252 later.

    Italy is open today and will release industrial output. We also have ECB Vice President Guindos speaking at a business forum in Madrid at 12:15GMT.

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  8. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 12 Jun 2019 05:30 GMT

    EUR/USD - 1.1330
    Euro's rebound to 1.1337 (New York) yesterday suggests early correction from last Friday's 10-week high at 1.1347 has ended at 1.1291 (Monday) and upside bias remains for recent upmove to head marginally above said res, however, loss of upward momentum is expected to cap price at 1.1400.

    On the downside, only a daily close below 1.1291 confirms temporary top is made and risk would shift to the downside for stronger retracement towards 1.1252.

    Economic calendar in the euro area is very thin with France's non-farm payrolls being the only data due out today.
    We have a number of ECB officials speaking today starting with ECB President Draghi making welcoming address at an ECB conference in Frankfurt at 08:15GMT, then ECB Vice President speaking at the same event at 09:00GMT, then later ECB's Coeure at 12:15GMT n then 15:00GMT.

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  9. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 13 Jun 2019 05:30 GMT

    EUR/USD - 1.1296
    Despite yesterday's initial firmness and intra-day gain to 1.1343 (Europe), failure to re-test Jun's 10-week high at 1.1347 and subsequent selloff to 1.1283 as the greenback caught a bid in New York session suggests further choppy trading below said res level would continue with near term downside bias, oversold condition is likely to keep price above sup at 1.1252 and bring rebound later today or tomorrow.

    Above 1.1347 needed to extend recent upmove to 1.1378/83 whilst a daily close below 1.1252 would risk stronger retracement twd 1.1203.

    Data to be released on Thursday :
    UK RICS housing price balance, Australia employment change, unemployment rate, Germany CPI, HICP, Swiss producer/import price, EU industrial production, U.S. import prices, export prices, initial jobless claims, and Canada new housing price index.

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  10. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 14 Jun 2019 05:30 GMT

    EUR/USD - 1.1280
    Although euro's decline from last Friday's post-NFP 10-week high at 1.1347 to as low as 1.1269 yesterday confirms recent upmove has made a temporary top there, loss of downward momentum is likely to limit weakness to 1.1252 and bring rebound later, a firm break above 1.1303/08 res would signal pullback has ended and would head back towards said Jun's high next week.

    Only a daily close below 1.1252 sup would risk stronger correction towards 1.1203 before prospect of rebound.

    Today is the meeting of the ECOFIN in Luxembourg, so one can expect comments from EU officials. On the data front, Germany will kick off with wholesale price index, then France's CPI. Italy's industrial orders, industrial sales and CPI.
    We have ECB's Lautenschlager and Enria speaking during Euroepan morning.

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