AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Feb 2021 03:00GMT

EUR/USD - 1.2172
Euro's re-test of last week's high at 1.2169, then intra-day break there in Asia confirms recent rise from February's 2-month trough at 1.1953 has once gain resumed and would yield further gain, however, loss of upward momentum should cap price below pivotal res at 1.2222.

On the downside, a daily close below 1.2130 (New York low) would be 1st signal temporary low is made and risks stronger retracement towards 1.2092.

Data to be released on Tuesday :
New Zealand retail sales ex-autos, retail sales, Japan market holiday, China house prices.
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, CBI distributive trades, Swiss producer and import price index, Italy industrial orders, industrial sales, EU HICP, core HICP.
U.S. redbook, monthly home price, Case-Shiller home price, consumer confidence, Richmond Fed manufacturing 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]

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Feb 2021 03:00GMT

EUR/USD - 1.2158
Despite euro's retreat from Tuesday's 4-week high of 1.2180 (Europe) to 1.2136 in New York, subsequent rebound and intra-day rally in cable suggests upside bias remains for recent upmove from 1.1953 (January) to yield further gain after consolidation, loss of upward momentum is likely to cap price below res at 1.2222 and bring a much-needed correction.

A daily close below 1.2136 signals temporary top is in place, then risk would shift to the downside for stronger retracement towards 1.2092.

Data to be released on Wednesday :
Australia construction work down, wage price index, New Zealand RBNZ interest rate decision.
Germany GDP, France business climate, Swiss investor sentiment.
U.S. MBA mortgage applications, building permits, new home 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]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Feb 2021 03:00GMT

EUR/USD - 1.2162
Euro's rebound from 1.2110 in New York yesterday after repeated dovish comments by Fed's J. Powell suggests re-test of this week's 1.2180 high would be forthcoming soon, above would extend upmove from Feb's 2-month trough at 1.1953 towards next chart objective at 1.2222, loss of upward momentum should prevent strong gain and risk has increased for a retracement of said rise.

On the downside, below 1.2110 anytime signals top is made, then outlook would turn bearish for weakness to 1.2092, then towards 1.2063.

Data to be released on Thursday :
Australia capital expenditure, building capex, New Zealand NBNZ business outlook, NBNZ own activity, Japan coincident index, leading economic index.
Germany GfK consumer sentiment, France consumer confidence, Italy business confidence, consumer confidence, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. durable goods, durables ex-transportation, durables ex-defense, GDP, GDP deflator, core PCE price index, PCE price index, initial jobless claims, continued jobless claims, average weekly earnings, pending home sales, KC Fed manufacturing 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]

AceTraderFx Mar 01: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 01 Mar 2021 03:00GMT

EUR/USD - 1.2094

Although euro's decline from last Thursday's 6-week high at 1.2242 to as low as 1.2064 (New York) Friday due to active safe-haven buying of usd on the back of global stock and bond market rout signals correction from February's 2-month bottom at 1.1953 has ended, intra-day rebound would bring choppy sideways swings.

As long as 1.2139/41 res holds, further weakness is envisaged but loss of momentum should keep price above daily pivotal sup at 1.2024 today.

Data to be released today:
Australia manufacturing index, business inventories, Japan manufacturing PMI, China manufacturing PMI.
Swiss retail sales, manufacturing PMI, Italy manufacturing PMI, CPI, France manufacturing PMI, Germany manufacturing PMI, CPI, EU manufacturing PMI, UK manufacturing PMI, Canada current account, manufacturing PMI.
U.S. manufacturing PMI, construction spending and ISM manufacturing PMI on Monday.

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 Mar 02: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 02 Mar 2021 03:00GMT

EUR/USD - 1.2037
Although euro's decline from last week's high at 1.2242 (Thursday) to as low at 1.2028 yesterday due to continued usd's buying due to risk-off trade suggests early correction from February's 2-month bottom at 1.1953 has ended, near term loss of downward momentum would prevent steep fall and reckon 1.1990/00 may hold and yield recovery.

On the upside, only a daily close above Monday's 1.2101 high (AUS) would risk stronger retracement to 1.2130/40 before prospect of another fall later this week.

The euro-area countries will release a slew of eco. data, pls refer to our EI page for details. ECB board member Panetta will speak at a webinar conference at 13:40GMT later today.

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 Mar 03: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 03 Mar 2021 03:00GMT

EUR/USD - 1.2090
Despite yesterday's anticipated resumption of decline from last Thursday's 6-week peak of 1.2242 to 1.1992 (Europe), subsequent rally due to broad-based usd's weakness on return of risk appetite suggests temporary low is made and 1-2 days of sideways consolidation is seen.

As long as 1.2139/41 holds, downside bias remains for another fall, below 1.2.16/21 would bring re-test of 1.1992 while break of said res may risk stronger gain to 1.2175/80.

Today is PMI day in the euro area countries, we have ECB board member Weidmann n other ECB offcials scheduled to speak in European and New York sessions, please refer to our Economic Indicator 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]

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Mar 2021 03:00GMT

EUR/USD - 1.2060
Euro's decline from 1.2112 to 1.2043 yesterday suggests correction from Tuesday's 1.1992 low has possibly ended and initial range trading is in store before weakness towards 1.1992 but break there needed to extend early fall from last Thursday's 6-week peak at 1.2242 towards Feb's bottom at 1.1953 'later'.

On the upside, only above 1.2112 dampens present bearish scenario and may risk stronger gain to 1.2139/41.

Data to be released on Thursday :
Australia retail sales, trade balance, imports, exports, Japan consumer confidence.
UK Markit construction PMI, EU retail sales, unemployment rate.
Canada labor productivity and U.S. initial jobless claims, continued jobless claims, labor costs, productivity, durables ex-defense, durable goods, factory orders, durables ex-transport.

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 Mar 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Mar 2021 03:00GMT

EUR/USD - 1.1958
Euro's intra-day break of Thursday's 1.1962 low suggests re-test of February's 2-month trough at 1.1953 would be forth coming next where a break there would extend recent downtrend towards next downside retracement target at 1.1898 next week.

On the upside, expect 1.2000/10 to hold for this move and only a daily close above 1.2053 (New York high) dampens bearish view, risks stronger recovery to 1.2080/90.

The euro area countries will release a slew of eco. data (see EI page for details), however, market's focus is U.S. jobs data at 13:30GMT.

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 Mar 08: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 08 Mar 2021 03:00GMT

EUR/USD - 1.1925
Despite resumption of recent decline to a 3-month trough of 1.1894 in New York last Friday after robust U.S. jobs report, intra-day short-covering rebound would bring initial choppy swings before prospect of further weakness, however, loss of downward momentum would keep price above 1.1846.

Only a daily close above 1.1977 signals temporary low is made, then risk is seen for a stronger retracement towards 1.1992.

On the data front, Germany will kick off with industrial output, then EU Sentix 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]

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

DAILY MARKET OUTLOOK on Major
Update Time: 09 Mar 2021 03:00GMT

EUR/USD - 1.1845
Although euro's intra-day brief break of Monday's fresh 3-month low at 1.1845 confirms recent decline from January's 1.2349 peak remains in progress, loss of near term downward momentum is likely to keep price above sup at 1.1800 and risk has increased for a much-needed correction to take place.

On the upside, only a daily close above 1.1894 (Friday's low, now res) needed to signal temporary bottom is made and yield stronger retracement to 1.1935/45 before prospect of another fall later.

The euro area countries will release a slew of eco. data, pls refer to our Economic Indicator page for details n pay attention to EU's Q4 GDP at 10:00GMT, a weaker-than-expected reading will weigh on recent falling single currency vs usd n sterling.

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