AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2020 03:30GMT

EUR/USD - 1.0858
Despite Monday's intra-day rise from 1.0842 to 1.0896 in European morning, subsequent choppy swings in New York session suggests recovery from last Friday's 9-day trough at 1.0813 has possibly ended and decline from April's 1.0991 would head to 1.0785/90 after consolidation, however, loss of downward momentum should keep price above 1.0769.

Only a daily close above 1.0896 risks stronger retracement of said fall to 1.0935/39 before prospect of another fall later this week.

Data to be released on Tuesday :
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss trade balance, exports, imports, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW economic sentiment.
Canada retail sales, retail sales ex-autos, U.S. redbook, existing home sales and New Zealand GDT price index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Apr 2020 03:30GMT

EUR/USD - 1.0856
Athough yesterday's intra-day brief buy strong bounce from 1.0817 to 1.0880 in New York morning suggests further choppy trading above last week's low at 1.0813 would continue, as long as 1.0896 (reaction high Monday) holds, recent fall from 1.0991 would resume after consolidation, however, loss of momentum should keep euro above Apr's low at 1.0769.

Only a daily close above 1.0905 risks stronger retracement of recent decline from 1.0991 towards 1.0939 before prospect of retreat.

Data to be released on Wednesday :
Australia Westpac leading index.
UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core ouput, Italy industrial orders, industrial sales and EU consumer confidence.
U.S. MBA mortgage applications, monthly home price index, Canada CPI, core CPI,

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Apr 2020 03:30GMT

EUR/USD - 1.0813
Euro's intra-day selloff from 1.0885 (Europe) yesterday's and then subsequent brief break of last week's 1.0813 low to a 2-week trough of 1.0804 in New York due to renewed usd's strength suggests recent fall from 1.0991 would extend marginal weakness, loss of downward momentum is likely to keep price above April's bottom at 1.0769 and risk has increased for a correction to take place.

On the upside, a daily close above 1.0842 would be first signal temporary low is made n may bring stronger retracement to 1.0885/95.

Data to be released on Thursday :
Australia manufacturing PMI, services PMI, imports, exports, trade balance, Japan Jibun Bank manufacturing PMI, leading indicator, coincident index.
France business climate, Markit manufacturing PMI, Markit services PMI, UK PSNB, PSNCR, Markit manufacturing PMI, Markit services PMI, CBI trends orders, Germany Markit manufacturing PMI, Markit services PMI, Italy trade balance, EU Markit manufacturing PMI, Markit services PMI.
U.S. building permits, initial jobless claims, Markit manufacturing PMI, Markit services PMI, new home sales, Kansas City Fed manufacturing index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Apr 2020 03:30GMT

EUR/USD - 1.0769
Despite euro's intra-day wild swings in New York after intra-day resumption of recent decline to a near 1-month trough of 1.0757 (Europe), subsequent selloff from 1.0846 to 1.0762 after EU leaders failed to agree on EZ recovery plan suggests downside bias remains for weakness towards projected target at 1.0718, then towards 2020 bottom at 1.0637 (March) later next week.

On the upside, only a daily close above 1.0846 dampens bearishness on euro and may risk stronger retracement of early fall from 1.1147 to 1.0885/95.

Data to be released on Friday :
Japan nationwide core CPI, nationwide CPI, total industrial activity index.
UK GfK consumer confidence, retail sales, retail sales ex-fuel, Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy manufacturing business confidence, consumer confidence.
U.S. drable goods, durables ex-transportation, durables ex-defense, University of Michigan sentiment, and Canada budget balance.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2020 03:30GMT

EUR/USD - 1.0817
Despite euro's resumption of recent decline to a 1-month trough of 1.0728 (Europe) on Friday, subsequent strong rebound to 1.0829 in New York session due to broad-based profit taking in usd suggests temporary low has been made and 1-2 days of choppy trading is in store before prospect of another fall, below 1.0757/62 would bring re-test of 1.0728.

Only a daily close above 1.0846 dampens bearish outlook on euro and risk would shift to upside for stronger retracement of towards 1.0896.

Data to be released today:
U.S. Dallas Fed manufacturing business index on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Apr 2020 03:30GMT

EUR/USD - 1.0835
Although euro's strong rebound from last Friday's 1-month bottom at 1.0728 to as high as 1.0861 yesterday (Europe) suggests recent decline has made a temporary low and 1-2 days of consolidation is seen, loss of near term upward momentum should cap price at 1.0885/95 and yield decline.

A daily close below 1.0800 signals correction is over and yield weakness to 1.0757/62, then later re-test of 1.0728.

Economic calendar in the euro area countries is very thin with France's March consumer confidence being the only data due out at 06:45GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2020 03:30GMT

EUR/USD - 1.0835
Desoite euro's rally from 1.0811 to as high as 1.088 in European trading on intra-day usd's weakness, subsequent sharp fall to 1.0818 after the greenback regained traction in New York session suggests corrective rise from last Friday's 1-month bottom at 1.07 has possibly ended.

Below 1.0810/11 sup would encourage for re-test of 1.0728 later this week and only a daily close above 1.0888 may risk stronger retracement of recent decline to 1.0935/39.

On the data front, the euro area countries will release a slew of eco. data, please refer to our economic indicators page for details.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 May 2020 03:30GMT

EUR/USD - 1.0953
Despite euro's resumption of recent upmove from April's 1.0728 trough to a 2-week high of 1.1018 (New York) on Friday, subsequent cable-led retreat suggests temporary top is made, as long as 1.0935 holds, mild upside bias remains for marginal gain, loss of upward momentum should cap price below 1.1062/67.

A daily close below 1.0935 would bring retracement of said rise from 1.0728 towards 1.0896.

Data to be released today:
Japan market holiday, China market holiday, Australia building approvals, ANZ job advertisements.
Germany Markit manufacturing PMI, Swiss manufacturing PMI, Italy Markit manufacturing PMI, France Markit manufacturing PMI, EU Markit manufacturing PMI, sentix index.
U.S. ISM New York index, Durable ex-defense, Durable goods, Durables ex-transport, Factory orders on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 05 Mayr 2020 03:30GMT

EUR/USD - 1.0910
Euro's decline from last Friday's 2-week high of 1.1018 to as low as 1.096 (New York) yesterday suggests recent rise from April's 1.0728 bottom has made a top there and consolidation with downside bias remains for further weakness, near term oversold condition should keep price above sup at 1.0834 and yield rebound later this week.

On the upside, only a daily close above 1.0972 signals pullback has possibly ended, then risk would shift to the upside for another rise to 1.1000/10.

On the data front, France will release budget balance n then EU's producer prices. Some ECB members are scheduled to speak in European morning (please refer to our EI page for details).
Pay attention to release of European Commission's eco. growth forecasts (but no release time is scheduled).

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 May 2020 03:30GMT

EUR/USD - 1.0840
Euro's intra-day selloff in European morning from 1.0925 to 1.0827 signals the correction from April's 1-month bottom at 1.0728 has ended earlier at 1.1018 (Fri) and downside bias remains for further weakness after consolidation, reckon 1.0757/62 would contain downside.

Only a daily close above 1.0896 (Monday low) 'prolongs' choppy sideways swings and risks another rise to 1.0925 before prospect of retreat.

On the data front, Germany will kick off with industrial orders, Italy's Markit services PMI, then the same from France, Germany and the EU including retails sales.
As all the indicated data are expected to be downbeat, euro is likely to come under renewed bashing after the releases, so be nimble and be quick.

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