AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Oct 2019 03:30GMT

EUR/USD - 1.1030
Yesterday's rebound from 1.0992 to 1.1044 in New York morning on Brexit deal hope suggests pullback from last Fri's near 3-week high at 1.1062 has ended and recent upmove from October's 28-month bottom would resume after consolidation, however, loss of upward momentum should cap price below daily res at 1.1109.

Only below 1.0992 aborts bullishness on the single currency and risk would shift to the downside for stronger retracement to 1.0968, possibly towards 1.0942 later this week.

Data to be released on Wednesday:
New Zealand CPI, Australia Westpac leading index.
Italy industrial orders, industrial sales, consumer prices, CPI, UK DCLG house price index, core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output, EU trade balance, HICP final, core HICP.
U.S. MBA mortgage application, retail sales ex-autos, retail sales, business inventories, NAHB housing market index and Canada CPI, CPI BoC core and core CPI.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 Oct 2019 03:30GMT

EUR/USD - 1.1082
Yesterday's rally above last Fri's 1.1062 high to a near 1-month peak at 1.1085 in New York on usd's weakness suggests recent upmove from Oct's 28-month trough of 1.0880 would head towards 1.1109 (September's high) after consolidation, break would yield 1.1164 before prospect of correction.

On the downside, only below 1.1023 would indicate temporary top is in place and risk weakness to 1.0992/00.

Data to be released on Thursday:
Australia employment change, unemployment rate.
Swiss trade balance, exports, imports, Italy trade balance, trade balance non-EU, UK retail sales, retail ex-fuel, EU construction output.
U.S. building permits, housing starts, initial jobless claims, industrial production, capacity utilization, manufacturing output and Canada manufacturing sales, ADP employment change

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Oct 2019 03:30GMT

EUR/USD - 1.1125
Thur's resumption of recent upmove and intra-day break above Sep's 1.1109 high to a 6-week peak of 1.1139 (Europe) suggests euro's rise from Oct's fresh 218-month bottom at 1.0880 would head to 1.1180/90 after consolidation, overbought condition should prevent strong gain.

On the downside, only a daily close below 1.1085 signals temporary top is made, then risk would shift to downside for stronger retracement twd 1.1023 early next week.

The European Council is holding a special Brexit summit today n on the dat front, we have EU's current account. ECB President n ECB's Coeure will particpate in IMF/World Bank meetings (to Oct 19) in Washington D.C.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Oct 2019 03:30GMT

EUR/USD - 1.1159
Euro's rise to a fresh 6-week peak at 1.1173 near New York closing on Friday suggests upmove from October's 28-month trough at 1.0880 remains in progress and further gain to 1.1194, then 1.1209/10 would be seen, however, loss of momentum would keep price below 1.1240/50 and yield a much-needed correction later this week.

On the downside, only below 1.1115 would indicate a temporary top has been made and risk stronger retracement to 1.1085 but support at 1.1066 should remain intact.

Germany will release its producer prices at 06:00GMT whilst the Bundesbank will issue its monthly report at 10:00GMT.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Oct 2019 03:30GMT

EUR/USD - 1.1153
Although price has retreated after yesterday's brief break of Friday's high at 1.1173 to a 2-month peak at 1.1179 and minor consolidation would be seen, as 1.1140 has contained downside, upside bias remains and above said resistance would extend upmove from October's 28-month trough at 1.0880 to 1.1209/10 later before prospect of correction due to loss of momentum.

On the downside, only below 1.1102 would indicate a temporary top has been made and risk stronger retracement to 1.1085/90 before rebound occurs.

Since there is no major economic data being released from eurozone today, traders should keep an eye on the eur/gbp cross.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Oct 2019 03:30GMT

EUR/USD - 1.1129
Although price has retreated after Monday's brief break of Friday's high at 1.1173 to a 2-month peak at 1.1179 and minor consolidation would be seen, as 1.1140 has contained downside, upside bias remains and above said resistance would extend upmove from October's 28-month trough at 1.0880 to 1.1209/10 later before prospect of correction due to loss of momentum.

On the downside, only below 1.1102 would indicate a temporary top has been made and risk stronger retracement to 1.1085/90 before rebound occurs.

Pay attention to the release of EU consumer confidence at 14:00GMT. Street forecast is -6.7, down from previous reading of -6.5. Elsewhere, ECB's Andrea Enria is scheduled to speak at an event in Madrid at 08:45GMT.

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 Oct 24: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 24 Oct 2019 03:30GMT

EUR/USD - 1.1137
Although price has retreated after Monday's brief break of Friday's high at 1.1173 to a 2-month peak at 1.1179 and minor consolidation would be seen, as 1.1107 has contained downside yesterday, upside bias remains and above said resistance would extend upmove from October's 28-month trough at 1.0880 to 1.1209/10 later before prospect of correction due to loss of momentum.

On the downside, only below 1.1102 would indicate a temporary top has been made and risk stronger retracement to 1.1085/90 before rebound occurs.

Market focus is on the European Central Bank's rate decision at 11:45GMT. No changes in policy are expected at President Mario Draghi's last meeting before passing the reigns to Christine Lagarde. Draghi will deliver his final press conference at 12:30GMT.

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 Oct 25: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 25 Oct 2019 03:30GMT

EUR/USD - 1.1103
The single currency's cable-led selloff from 1.1162 to as low as 1.1094 yesterday suggests recent upmove from October's 28-month trough at 1.0880 has made a temporary top at Monday's 2-month peak at 1.1179 on Monday and consolidation with downside bias remains for retracement to 1.1070/75, however, near term loss of momentum would keep price above 1.1062/66 and yield correction later.

On the upside, only above 1.1162 would confirm pullback is over and bring re-test of said high, break would extend to 1.1209/10 before prospect of retreat.

Pay attention to the release of German Ifo data at 08:00GMT. Street forecasts for business climate, current conditions and expectations are 94.5, 98.0 and 91.0 vs previous readings of 94.6, 98.5 and 90.8 respectively.

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 Nov 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Nov 2019 03:30GMT

EUR/USD - 1.1130
The single currency's selloff from yesterday's high at 1.1175 and subsequent break of previous support at 1.1129 to 1.1122 today suggests further choppy trading below October's 2-month peak at 1.1179 would continue with downside bias and weakness to 1.1103, then 1.1081/85 would be seen, however, oversold condition would keep price above reaction low at 1.1074 and yield rebound later.

On the upside, only above 1.1175/79 would revive bullishness for stronger gain to 1.1223 before prospect of a correction later this week.

Pay attention to the release of EU PPI mm and yy at 10:00GMT. Street forecasts are 0.1% and -1.2% vs previous readings of -0.5% and -0.8% respectively.

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 Nov 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 Nov 2019 03:30GMT

EUR/USD - 1.1071
The single currency's selloff from yesterday's high at 1.1140 and subsequent break of previous support at 1.1074 to 1.1064 suggests decline from October's 2-month peak at 1.1179 has once again resumed and consolidation with downside bias remains for weakness to 1.1020/23, however, oversold condition would keep price above 1.0990/00 and yield correction later.

On the upside, only above 1.1175/79 would revive bullishness for stronger gain to 1.1223 before prospect of a correction later this week.

There is a slew of data from the eurozone today. Pay particular attention to the release of services PMIs from Germany, France and EU and EU retail 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