AceTraderFx Apr 22: Daily Market Outllook on Major -EUR/USD

acetraderfx

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 01: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 01 June 2020 03:30GMT

EUR/USD - 1.1116
Euro's resumption of recent upmove to a 2-month peak of 1.1144 on Friday due to continued broad-based usd's weakness and month-end euro's demand suggests test of daily res at 1.1147 res would be seen after consolidation, break would extend medium-term rise towards 1.1200.

Intra-day retreat would bring initial sideways swings before up and only below 1.1030/35 (previous res, now sup) confirms temporary top is in place and risks stronger retracement towards 1.0992 later this week.

The euro area countries will release a slew of PMI data despite holidays in key centres in Germany and France, please refer to our EI page for details.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 02: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 02 June 2020 03:30GMT

EUR/USD - 1.1130
Yesterday's brief break of daily res at 1.1147 to a 2-month high of 1.1153 confirms euro's medium-term rise from 2020 bottom at 1.0637 has finally resumed and further gain is envisaged after consolidation, however, near term loss if upward momentum should cap price below 1.1213.

On the downside, only a daily close below 1.1082 signals temporary top is made and risk stronger retracement to 1.1030/35 before prospect of rebound.

Data to be released on Tuesday :
New Zealand building permits, terms of trade, import prices, export prices, GDT price index, Australia business inventories, current account, RBA interest rate decision.
Italy market holiday, UK nationwide house price index, Swiss retail sales, manufacturing PMI, France budget balance.
U.S. redbook, ISM New York index.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 03: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 03 June 2020 03:30GMT

EUR/USD - 1.1194
Despite euro's intra-day marginal gain above Tuesday's 2-1/2 month high of 1.1195, loss of upward momentum would prevent strong gain today and reckon 1.1239 would cap upside and yield a much-needed minor correction before prospect of another rise later this week.

Below 1.1053 anytime signals temporary top is in place and yield weakness to 1.1100/10 but 1.1082 should remain intact.

Today is PMI day in the euro area countries, please refer to our EI page for details.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 04: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 04 June 2020 03:30GMT

EUR/USD - 1.2220
Euro's intra-day retreat in Asia after climbing to a near 3-month peak of 1.1257 (New York) yesterday suggests range trading is in store ahead of ECB policy meeting, as long as 1.1185 holds, outlook remains mildly bullish for marginal gain, loss of upward momentum should cap price below 1.1300.

A daily close below 1.1185 would risk stronger retracement towards 1.1153 but reckon 1.1100/10 should remain intact.

On the data front, the only economic data due out is EU's 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
 

acetraderfx

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 05 June 2020 03:30GMT

EUR/USD - 1.1338
Yesterday's impressive rally from 1.1196 (Europe) to as high as 1.1361 in post-ECB New York suggests upmove from 2020 near 3-year bottom at 1.0637 remains in force and price is expected to head towards 2020 peak at 1.1494 (march) later next week.

Today, outlook remains bullish for further gain after consolidation, overbought condition is likely to limit upside to 1.1400/10. Only a daily close below 1.1300 signals temporary top is made and may risk stronger retracement to 1.1257, however, 1.1196 should remain intact.

On the data front, Germany will kick off with industrial irders at 06:00GMT n then Italy will release retail dales at 08:00GMT.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 08: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 08 June 2020 03:30GMT

EUR/USD - 1.1314
Despite hitting a fresh 2-1/2 month high of 1.1383 in European morning Friday, euro's subsequent retreat to 1.1279 in New York after surprise sharp jump in U.S. payrolls suggests temporary top is possibly in place and would bring consolidation with downside bias, below 1.1279 would bring a much-needed retracement to 1.1248, then 1.1200/05.

Only above 1.1361 risks re-test of 1.1383, however, loss of upward momentum would cap price at 1.1410/15 and yield correction.

Data to be released today :
Australia market holiday, Japan current account, trade balance, GDP, economic watchers current, economic watchers outlook.
Germany industrial output, EU Sentix index.
Canada housing.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 09: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 09 June 2020 03:30GMT

EUR/USD - 1.1296
Although euro's decline from last Fri's fresh 2-1/2 month peak of 1.1383 to 1.1269 yesterday's suggests recent upmove has made a temporary top there, subsequent rebound to 1.1318 due to renewed usd's weakness in New York would bring sideways swings, a daily close above 1.1319 would signal pullback has ended and yield gain to 1.1343, break, 1.1370/80 later.

Below 1.1269 would bring stronger retracement, however, loss of downward momentum is expected to keep price above 1.1200/10.

Data to be released later :
ANZ job advertisements, Australia NAB business conditions, NAB business confidence,
Swiss unemployment rate, Japan machine tool orders, UK BRC retail sales, Germany exports, imports, trade balance, current account, France current account, trade balance, imports, exports, EU employment, GDP.
U.S. redbook, JOLTS job openings, wholesale inventories, wholesale 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
 

acetraderfx

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 10: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 10 June 2020 03:30GMT

EUR/USD - 1.1339
Yesterday's rally from 1.1242 (Europe) to as high as 1.1364 in New York due to renewed usd's broad-based weakness suggests early pullback from last Friday's fresh 2-1/2 month peak at 1.1383 has ended and recent upmove would resume after consolidation, however, loss of upward momentum should cap price well below 2020 peak (March) at 1.1494.

On the downside, only failure to penetrate 1.1383 and a daily close below 1.1300 'prolongs' choppy swings, risks weakness towards 1.1242.

The only eco. data due out today is France's industrial out, however, we have a number of ECB members scheduled to speak during European session, please refer to EI page for details.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 11: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 11 June 2020 03:30GMT

EUR/USD - 1.1390
Although euro's retreat from Wednesday's 3-month high of 1.1422 in post-FOMC after Fed's dovish hold suggests temporary top is in place and initial sideways swings are in store, as long as 1.1323 (New York low) holds, marginal gain is likely, however, loss of upward momentum should cap price well below 2020 peak (March) at 1.1894 and yield a long-overdue correction.

A daily close below 1.1323 would risk stronger retracement to 1.1269, then later towards 1.1242.

On the data front, France will kick off with non-farm payrolls data, then Italy's industrial output.
The Eurogroup will meet today, ECB President Lagarde n ECB members Panetta n Enria will participate in this virtual meeting.

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

AceTrader.com Representative
Messages
1,109
AceTraderFx Jun 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 12 June 2020 03:30GMT

EUR/USD - 1.1283
As euro's intra-day wild swings on Thursday has ended with price tumbling from 1.1403 to 1.1289 in New York session due to active safe-haven usd buying on plunge in U.S. stocks, suggesting medium-term upmove has made a temporary top at Wed's 3-month peak at 1.1422 and consolidation with downside bias remains for stronger retracement towards chart obj. at 1.1296.

Only a daily close above 1.1323 signals 1st leg of correction is over and risks further recovery to 1.1350/60 but 1.1403 should remain intact.

Data to be released on Friday :
New Zealand manufacturing PMI, food price index, Japan industrial output, capacity utilization.
UK GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate, France CPI, EU industrial production.
U.S. import prices, export prices, University of Michigan sentiment, and Canada capacity utilization.

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
 
Top