AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

EUR/USD - 1.1077
Despite the single currency's fall to 1.1054 yesterday, subsequent rebound to 1.1081 on usd's broad-based weakness suggests the pullback from Monday's high at 1.1090 has ended there and consolidation with upside bias would be seen for a re-test of said resistance, break would extend recent rise from last Thursday's 1-month trough at 1.0990 to 1.1113/20.

On the downside, only below 1.0990 would revive bearishness for weakness to 1.0968 but loss of momentum would keep price above support at 1.0942, yield rebound.

Pay attention to the release of EU consumer confidence at 15:00GMT. Street forecast is -7.3 vs previous reading of -7.6.

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

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

EUR/USD - 1.1065
Despite the single currency's brief break of Monday's high at 1.1090 to 1.1096 yesterday, subsequent sharp retreat to 1.1053 suggests recent upmove from last Thursday's trough at 1.0990 has made a temporary top there and consolidation with downside bias would be seen for stronger retracement to 1.1027/29, however, support at 1.1015 should remain intact and yield rebound later.

On the upside, only above 1.1096 would revive bullishness for gain to 1.1113, then 1.1140 before prospect of retreat early next week.
There is a slew of manufacturing and services PMIs due from the eurozone today.

Pay particular attention to Germany's release at 08:30GMT. Street forecast for manufacturing and services PMI are 42.9 and 52.0, up from previous readings of 42.1 and 51.6 respectively.

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Nov 2019 05:30GMT

EUR/USD - 1.1023
The single currency's selloff to 1.1015 on Friday suggests correction from November's low at 1.0990 has ended at 1.1096 last Thursday and consolidation with downside bias remains for a re-test of aforesaid support, break would extend decline from October's 2-month peak at 1.1179 to 1.0970/75, however, loss of momentum would keep price above at 1.0942 and yield correction.

On the upside, only above 1.1053 would indicate a temporary low has been made and risk stronger retracement to 1.1081, then 1.1096 later.

Pay attention to the release of German Ifo business climate, current conditions and expectations at 09:00GMT. Street forecasts are 95.0, 98.0 and 92.5 vs previous readings of 94.6, 97.8 and 91.5 respectively.

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 Nov 2019 03:30GMT

EUR/USD - 1.1016
The single currency's selloff to 1.1015 on Friday, then 1.1004 yesterday suggests correction from November's low at 1.0990 has ended at 1.1096 last Thursday and consolidation with downside bias remains for a re-test of aforesaid support, break would extend decline from October's 2-month peak at 1.1179 to 1.0970/75, however, loss of momentum would keep price above at 1.0942 and yield correction.

On the upside, only above 1.1053 would indicate a temporary low has been made and risk stronger retracement to 1.1081, then 1.1096 later.

Pay attention to release of German Gfk consumer sentiment at 07:00GMT. Street forecast is for an unchanged reading at 9.6.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Nov 2019 03:30GMT

EUR/USD - 1.1018
The single currency's weakness after Monday's fall to 1.1004 suggests correction from November's low at 1.0990 has ended at 1.1096 last Thursday and consolidation with downside bias remains for a re-test of aforesaid support, break would extend decline from October's 2-month peak at 1.1179 to 1.0970/75, however, loss of momentum would keep price above at 1.0942 and yield correction.

On the upside, only above 1.1053 would indicate a temporary low has been made and risk stronger retracement to 1.1081, then 1.1096 later.

Pay attention to the release of Germany import prices mm and yy at 07:00GMT. Street forecasts are -0.2% and -3.6% vs previous readings of 0.6% and -2.5% respectively.

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Nov 2019 03:30GMT

EUR/USD - 1.1006
The single currency's break of Monday's low at 1.1004 to 1.0993 yesterday suggests correction from November's low at 1.0990 has ended at 1.1096 last Thursday and consolidation with downside bias remains for a re-test of aforesaid support, break would extend decline from October's 2-month peak at 1.1179 to 1.0970/75, however, loss of momentum would keep price above at 1.0942 and yield correction.

On the upside, only above 1.1053 would indicate a temporary low has been made and risk stronger retracement to 1.1081, then 1.1096 later.

Data to be released on Thursday :
UK YouGov MRP poll release, Japan retail sales, New Zealand NBNZ business outlook, NBNZ own activity, Australia capital expenditure, building capex, Swiss GDP, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. market holiday, and Canada current account, average weekly earnings.

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Nov 2019 03:30GMT

EUR/USD - 1.1010
Although euro has recovered after Wednesday's break of Monday's low at 1.1004 to 1.0993 and minor consolidation would be seen, as said move signals correction from November's low at 1.0990 has ended at 1.1096 last Thursday, downside bias remains for a re-test of aforesaid support, break would extend decline from October's 2-month peak at 1.1179 to 1.0970/75, however, loss of momentum would keep price above at 1.0942 and yield correction.

On the upside, only above 1.1053 would indicate a temporary low has been made and risk stronger retracement to 1.1081, then 1.1096 later.

There is a slew of data to be released from the eurozone today. Pay attention to Germany's retail sales at 07:00GMT. Street forecasts for mm and yy are 0.0% and 1.1% vs previous readings of 0.1% and 3.4% respectively.

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AceTraderFx Dec 02: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 02 Dec 2019 03:30GMT

EUR/USD - 1.1018
Despite the single currency's fall to a 6-week trough at 1.0982 on Friday, subsequent strong rebound suggests decline from October's 2-month peak at 1.1179 has made a temporary low there and consolidation with upside bias remains for stronger retracement to 1.1032, however, 1.1048/53 should remain intact and yield another retreat towards said support later.

On the upside, only above 1.1048/53 would risk stronger gain to 1.1086, then 1.1096 before prospect of pullback later this week.

France and Germany will release their manufacturing PMIs at 08:50GMT and 08:55GMT.
Street forecasts are for unchanged figures of 51.6 and 43.8 respectively. Also keep an eye out on comments from ECB's President Christine Lagarde, who is due to speak at 14:00GMT.

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

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

EUR/USD - 1.1075
Despite the single currency's fall to a 6-week trough at 1.0982 on Friday, subsequent rally to as high as 1.1089 yesterday on usd's broad-based weakness suggests decline from October's 2-month peak at 1.1179 has made a temporary low there and consolidation with upside bias remains for stronger retracement to 1.1096, then 1.1113, however, 1.1140 should remain intact and yield another retreat later.

On the downside, only below 1.1028 would indicate aforesaid recovery has ended and risk weakness to 1.1004, however, said 1.0982 low would remain intact.

Pay attention to the release of EU produce prices at 10:00GMT. Street forecasts for mm and yy are 0.0% and -1.9% vs previous readings of 0.1% and -1.2% respectively.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Dec 2019 03:30GMT

EUR/USD - 1.1083
Despite the single currency's fall to a 6-week trough at 1.0982 on Friday, subsequent rally to 1.1089 on Monday, then 1.1093 yesterday due to usd's broad-based weakness suggests decline from October's 2-month peak at 1.1179 has made a temporary low there and consolidation with upside bias remains for stronger retracement to 1.1113 but loss of momentum would keep price below 1.1140.

On the downside, only below 1.1028 would indicate aforesaid recovery has ended and risk weakness to 1.1004, however, said 1.0982 low would remain intact.

Data to be released on Wednesday :
Australia AIG services index, GDP, capital expenditure, Japan Jibun Bank services PMI, China Caixin services PMI.
Italy Markit services PMI, France Markit services PMI, Germany Markit services PMI, EU Markit services PMI, UK Markit services PMI.
U.S. MBA mortgage applications, ADP employment change, Markit services PMI, ISM non-manufacturing PMI, and Canada labour productivity rate, Bank of Canada interest rate decision.

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