AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

EUR/USD - 1.1081
Although price has retreated after yesterday's rise to a near 1-month peak at 1.1115 and minor consolidation would be seen in Asia, as said move signals upmove from last Friday's low at 1.0982 to retrace decline from October's 2-month peak at 1.1179 has resumed, upside bias remains and above 1.1115 would extend to 1.1140. However, aforesaid top at 1.1179 should hold on first testing.

On the downside, only below 1.1048 would indicate a temporary top has been made and risk stronger retracement to 1.1004 before prospect of recovery.

Data to be released on Thursday :
Australia retail sales, trade balance, imports, exports.
Germany industrial orders, EU employment change, GDP, retail sales.
U.S. trade balance, initial jobless claims, durables ex-defense, durable goods, durables ex-transport, factory order, and Canada Ivey PMI.

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

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

EUR/USD - 1.1104
Euro's rebound to 1.1108 suggests pullback from this week's high at 1.1115 (Wednesday) has ended and above said res would extend upmove from last Fri's 6-week bottom at 1.0982 marginally higher after consolidation, however, loss of upward momentum should cap price below 1.1179 (Oct's peak) today.

On the downside, only a daily close below 1.1066 sup signals top is made and risk would shift to downside for stronger retracement towards 1.1028.

On the data front, the euro area countries will release a slew of eco. indicators starting with Germany's industrial output, France's current account, trade balance, exports and imports, then Italy will release retail sales.

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AceTraderFx Dec 09: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 09 Dec 2019 04:00GMT

EUR/USD - 1.1055
Despite Friday's initial firmness, failure to re-test Wed's 4-week high of 1.1115 and intra-day selloff from 1.1109 (Europe) to as low as 1.1041 after robust U.S. jobs data suggests early upmove from Nov's 6-week bottom at 1.0982 has made a top there and consolidation with downside bias is seen for a strong retracement of said rise, near term oversold condition would keep price above 1.1004.

On the upside, above 1.1080/90 would be the 1st signal pullback has ended and may head back to 1.1100/10 later today or tomorrow.

On the data front, we have Germany's exports, imports, current account n trade balance at 07:00GMT, then EU's Sentix investor sentiment at 09:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Dec 2019 03:30GMT

EUR/USD - 1.1064
Despite yesterday's rebound to 1.1078, subsequent retreat suggests further choppy trading below last Wednesday's 4-week peak at 1.1115 would continue with mild downside bias, however, Friday's low at 1.1041 should remain intact and yield another rise towards said top, break would extend recent upmove from 1.0982 to 1.1140 later.

On the downside, only below 1.1041 would revive bearishness for stronger retracement of aforesaid upmove to 1.1004 but 1.0982 should hold on first testing.

Pay attention to the release of Germany ZEW economic sentiment and current conditions at 10:00GMT. Street forecasts are 0.0 and -22.3 vs previous readings of -2.1 and -24.7 respectively.

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Dec 2019 03:30GMT

EUR/USD - 1.1093
Despite euro's selloff from last Wednesday's 4-week peak at 1.1115 to 1.1041 last Friday, subsequent rebound to 1.1078 on Monday, then higher to 1.1097 yesterday suggests the pullback is over and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove from 1.0982 towards 1.1140 before prospect of retreat later this week.

On the downside, only below 1.1041 would indicate a temporary top has been made and risk stronger retracement to 1.1004 but 1.0982 should hold on 1st testing.

Data to be released on Wednesday :
New Zealand retail sales, UK YouGov final MRP poll release, Australia consumer sentiment, Japan corporate goods price, producer price index, Canada capital utilization, and U.S. MBA mortgage applications, CPI, core CPI, real weekly earnings, Federal budget, Fed interest rate decision.

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

DAILY MARKET OUTLOOK on Major
Update Time: 12 Dec 2019 03:30GMT

EUR/USD - 1.1138
The single currency's rally above last Wednesday's 4-week peak at 1.1115 to 1.1144 on usd's weakness in post-FOMC trading suggests a re-test of October's 2-month peak at 1.1179 would be seen after consolidation, break would extend upmove from October's low at 1.0880 to 1.1195/00 but loss of momentum would keep price below 1.1205 and yield much-needed correction later.

On the downside, only below 1.1097 would indicate a temporary top has been mad risk would increase for a much-needed retracement to 1.1071.

Data to be released on Thursday :
New Zealand food price index, Japan machinery orders.
UK RICS housing price balance, parliamentary election, Germany CPI, HICP, Swiss producer/import price index, SNB interest rate decision, France CPI (EU norm), CPI, EU industrial production, ECB interest rate decision, ECB deposit rate decision.
U.S. initial jobless claims, PPI, core PPI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Dec 2019 03:30GMT

EUR/USD - 1.1171
Although price has eased after intra-day cable-led rise above October's 2-month peak at 1.1179 to 1.1199 and minor consolidation would be seen before upmove from 1.0880 (October) heads to 1.1230/40, reckon over bought condition would keep price below 1.1249 today and yield a much-needed correction later.

On the downside, only below 1.1104 would indicate a temporary top has been made and risk stronger retracement to 1.1071 but support at 1.1041 should remain intact.

Data to be released on Friday :
New Zealand manufacturing PMI, Japan Tankan big manufacturing index, Tankan big manufacturing outlook, Tankan big non-manufacturing index, Tankan big non-manufacturing outlook, Tankan small manufacturing index, Tankan small manufacturing outlook, Tankan small non-manufacturing index, Tankan small non-manufacturing outlook, industrial output, capital utilization.
Germany wholesale price index, Italy industrial orders, industrial sales, UK election's result, ex, Italy industrial orders, industrial sales, UK election's result, U.S. import prices, export prices, retail sales ex-autos, retail sales, business inventories.

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

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

EUR/USD - 1.1126
Despite the single currency's cable-led rise to a 4-month peak at 1.1199 on Friday, subsequent selloff to 1.1112 suggests medium-term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.1104, then 1.1071, however, support at 1.1041 should remain intact and yield rebound later this week.

On the upside, only above 1.1185 would revive bullishness for a re-test of said top, break would extend uptrend from October's 2019 trough at 1.0880 to 1.1220/30 later before prospect of correction.

Data to be released today:
Australia manufacturing PMI, services PMI, Japan Jibun Bank manufacturing PMI, industry activity.
U.K. Rightmove house price index, Markit manufacturing PMI, Markit services PMI, CBI trends survey, China industrial output, house prices, retail sales, industrial production, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, Italy consumer prices, CPI (EU norm), EU Markit manufacturing PMI, Markit services PMI, labour costs.
U.S. New York Fed manufacturing, Markit manufacturing PMI, Markit services PMI, NAHB housing market on Monday.

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

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

EUR/USD - 1.1137
Despite the single currency's cable-led rise to a 4-month peak at 1.1199 on Friday, subsequent selloff to 1.1112 suggests medium-term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.1104, then 1.1071, however, support at 1.1041 should remain intact and yield rebound later this week.

On the upside, only above 1.1185 would revive bullishness for a re-test of said top, break would extend uptrend from October's 2019 trough at 1.0880 to 1.1220/30 later before prospect of correction.

Data to be released on Tuesday :
New Zealand Westpac consumer survey, NBNZ business outlook, NBNZ own activity, GDT price index, Australia housing finance, Italy trade balance, goods trade balance.
U.K. ILO unemployment rate, employment change, average weekly earning, claimant count, EU trade balance.
Canada manufacturing sales and U.S. building permits, housing starts, redbook, industrial production, capacity utilization, manufacturing output, industrial production, JOLTS job openings.

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

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

EUR/USD - 1.1152
Despite the single currency's rise to a 4-month peak at 1.1199 on Friday, subsequent selloff to 1.1112 the same day suggests medium-term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.1104, then 1.1071, however, support at 1.1041 should remain intact and yield rebound later this week.

On the upside, only above 1.1185 would revive bullishness for a re-test of said top, break would extend uptrend from October's 2019 trough at 1.0880 to 1.1220/30 later before prospect of correction.

Data to be released on Wednesday :
New Zealand current account, Japan exports, imports, trade balance, Australia Westpac leading index.
Germany producer prices, Ifo business climate, Ifo current conditions, Ifo expectations, UK core CPI, CPI, RPI, core RPI, PPI in put prices, PPI output prices, PPI core output prices, EU construction output, HICP, core HICP, U.S. MBA mortgage applications.
Canada CPI.

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