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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 Jun 17: Daily Recommendations on Major -EUR/USD

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

    EUR/USD - 1.1220
    Euro's selloff in New York session to 1.1203 on Fri due to renewed usd's broad-based strength following decent U.S. retail sales data strongly suggests correction from May's 22-month bottom at 1.1108 has ended at 1.1347 and consolidation with downside bias remains for further weakness to 1.1157/60.

    On the upside, only a daily close above 1.1269 'prolongs' choppy sideways swings and may head back to 1.1303/08 later.

    Although no eco. data is due out from the euro area countries, pay attention to comments from ECB officials where some of them are attending the 3-day ECB Forum on Central Banking 2019 in Sintra, Portugal. ECB President Draghi will make an opening speech at 17:00GMT later today and then at 08:00GMT Tuesday.

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  2. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 18 Jun 2019 05:00 GMT

    EUR/USD - 1.1224
    Euro's decline from Jun's 1.1347 high to a 1-week low at 1.1203 last Friday suggests early correction from May's 22-month trough at 1.1108 has ended and as price has retreated after Monday's recovery to 1.1246 in New York, bearishness is retained for weakness to 1.1157/60, loss of momentum should keep price above 1.1108 ahead of Fed's rate decision on Wednesday.

    Only above 1.1269 'prolongs' choppy sideways swings and may risk another rise to 1.1303/08 later.

    The euro area countries will release a slew of eco. data, pay attention to Germany's ZEW eco. sentiment n current conditions, then EU's rate balance, final HICP n core HICP as well as ZEW eco. sentiment. Also, keep an eye out for comments by ECB officials - Draghi, De Guindos and Lane who are attending at ECB Forum in Sintra, Portugal.

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  3. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 19 Jun 2019 05:30 GMT

    EUR/USD - 1.1195
    Yesterday's decline to a 2-week low of 1.1182 after dovish comments by ECB's Draghi suggests early correction from May's 22-month bottom at 1.1108 has ended earlier at 1.1347 and subsequent eur-yen cross inspired recovery in New York morning would bring consolidation before further weakness to 1.1155/60, however,' loss of downward momentum' should keep price well above 1.1108.

    Only a daily close above 1.1246 (dovish Fed statement perhaps) signals temporary low is in place and risk would shift to the upside for stronger retracement to 1.1285/89.

    The euro area countries will release a slew of eco. data (see our EI page for details, we also have ECB officials and EU President Juncker speaking on the last day of ECB forum in Sintra, so keep a eye out for more comments from Draghi.

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  4. acetraderfx

    acetraderfx AceTrader.com Representative

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

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

    EUR/USD - 1.1266
    Yesterday's rally in post-FOMC New York trading to 1.1254 and intra-day break above this level in Asia due to renewed usd's weakness suggests recent decline has made a low at Tuesday's 2-week trough at 1.1182 and consolidation with upside bias remains for further gain, however, near term overbought condition should cap euro at 1.1303/08 and yield retreat later today or tomorrow.

    On the downside, below 1.1221/25 would be the first signal top is made, then risk would shift to the downside for weakness to 1.1200/01, then 1.1182/88.

    Data to be released on Thursday :
    New Zealand GDP, Japan Bank of Japan interest rate decision, all industry activity index.
    Swiss trade balance, exports, imports, France GDP, UK retail sales, 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. current account, initial jobless claims, Philadelphia Fed survey, Canada ADP employment change, and EU consumer confidence.

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  5. acetraderfx

    acetraderfx AceTrader.com Representative

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

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

    EUR/USD - 1.1299
    Euro's continuation of Wed's post-FOMC rally to 1.1317 yesterday's suggests early decline from June's 1.1247 peak has ended at 1.1182 (Tuesday) and re-test of this res is envisaged after consolidation, loss of upward momentum is expected to limit gain to 1.1378 and yield correction later today or Monday.

    On the downside, only a daily close below 1.1254 signals temporary top is in place and risks stronger retracement to 1.1212/21 area.

    Data to be released on Friday :
    Australia manufacturing PMI, services PMI, Japan national CPI, Nikkei manufacturing PMI, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, UK PSNB, PSNCR, Canada retail sales, and U.S. Markit manufacturing PMI, Markit services PMI, existing home sales.

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  6. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 24 Jun 2019 05:30 GMT

    EUR/USD - 1.1381
    Euro's anticipated rally above previous Jun's 1.1347 high to a 3-month peak of 1.1377 in New York session due to continued usd's weakness suggests recent upmove would head to 1.1400/10 after consolidation, near term loss of upward momentum should cap price below daily res at 1.1448.

    On the downside, only below 1.1317 indicates temporary top has been made, then risk is seen for a stronger retracement towards 1.1284 before prospect of rebound.

    Data to be released later:

    Japan coincident index, leading economic index, Germany Ifo business climate, Ifo current conditions, Ifo expectations, and U.S. Chicago national activity index, Dallas Fed manufacturing business index on Monday.

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  7. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 25 Jun 2019 05:30 GMT

    EUR/USD - 1.1405
    Despite yesterday's resumption of recent upmove to a fresh 3-month high of 1.1403 in New York due to continued usd's weakness, near term loss of upward momentum would prevent strong gain and reckon res at 1.1448 (March high) would cap present rise and yield a much-needed minor correction later today or tomorrow.

    On the downside, below 1.1373 would be the 1st signal temporary top is in place and may yield retracement towards 1.1347 before rebound.

    On the data front, euro area eco. calendar is pretty light today with France's business climate being the only data due out.
    ECB's VP Guindos will speak at an event organised by Italian Banking Association in Rome at 07:15GMT, then later ECB's Coeure will speak at a dinner event organised by ISDA in Frankfurt at 17:15GMT.

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  8. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 26 Jun 2019 05:30 GMT

    EUR/USD - 1.1360
    Despite resumption of recent upmove to a fresh 3-month peak of 1.1412 in Asia, subsequent strong retreat to as low as 1.1345 after comments by Fed officials dampened market expectation of aggressive rate cuts suggests long-awaited correction of medium-term rise from 1.1108 (May) has taken place and 1-2 days of volatile trading is seen, reckon 1.1317 would contain weakness and bring rebound.

    On the upside, only a daily close above 1.1398 (NY high Tue) signals pullback is over and would head towards next daily chart target at 1.1448 later this week.

    Economic calendar is pretty thin in the euro area countries n Germany's Gfk consumer confidence is the only data due out at 06:00GMT. ECB's Governing Council member will be speaking at a legal conference in Frankfurt at 09:00GMT.

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  9. acetraderfx

    acetraderfx AceTrader.com Representative

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

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

    EUR/USD - 1.1371
    Although euro's decline from Tuesday's fresh 3-month high of 1.1412 to 1.1345 suggests recent upmove has made a temporary top, yesterday's sideways trading indicates consolidation would continue initially today and as long as 1.1317 (previous res, now sup) holds, upside bias remains for marginal gain, loss of upward momentum should cap price below daily res at 1.1448.

    Only below 1.1317 would risk stronger retracement of medium term rise from 2019 bottom at 1.1108 (May) to 1.1285/90.

    On the data front, the euro area will release a slew of economic data (please refer to our EI section for details).

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    #609 acetraderfx, Jun 27, 2019
    Last edited: Jun 27, 2019
  10. acetraderfx

    acetraderfx AceTrader.com Representative

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

    [​IMG] DAILY MARKET OUTLOOK on Major
    Update Time: 28 Jun 2019 05:30 GMT

    EUR/USD - 1.1367
    Although euro has swung broadly sideways in last 2 sessions following early decline from Tuesday's fresh 3-month peak of 1.1412 to 1.1345 and initial range trading is envisaged, as long as 1.1317 (previous res, now sup) holds, recent upmove is likely to resume, however, loss of upward momentum is expected to cap price below daily res at 1.1448.

    A daily close below 1.1317 may risk 'stronger' correction of the upmove from 2019 bottom at 1.1108 (May) to 1.1260/70 before prospect of rebound next week.

    The euro area countries will release a slew of eco. data, please refer to our E.I. page for details. ECB ececutive board member Lautenschlager will give introductory remarks at an event in Frankfurt at 07:30GMT.

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