AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

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

EUR/USD - 1.1845
Euro's intra-day weakness on continued broad-based usd's strength due to risk-off trade suggests price would penetrate March's 3-month low at 1.1836 next, break there would extend Medium Term downtrend from January's near 33-month peak at 1.2349 towards projected target at 1.1787 later this week, oversold condition should keep price above 1.1746 sup.

Only a daily close above 1.1873 (Monday low, now res) signals temporary bottom is possibly made and may risk stronger retracement to 1.1935/45.

Today is PMI day in the euro area countries (pls refer to our EI page for details), pay attention to German as well as EU mfg n services PMIs, if actual readings come in weaker than forecast, one can expect further euro bashing. ECB President Lagarde will speak at a teleconference on "Investing in Climate Action" at 15:40GMT.

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 25: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1812
Euro's break of previous March's 1.1836 low to a 4-month trough of 1.1813 (Europe) Wednesday, then intra-day brief break there suggests medium-term decline from 2021 peak at 1.2349 (January) would pressure price below 1.1800 handle, however, near term loss of downward momentum is expected to keep euro above daily sup at 1.1746 and risk has increased for a correction to take place later.

On the upside, only a daily close above 1.1850 signals temporary bottom is in place and yields stronger retracement to 1.1870/75, break, 1.1910/20 before prospect of another fall next week.

On the eco. front, the only eco. data due out is France's business climate. There is European Council meeting today n a number of ECB officials are scheduled to speak (pls refer to our EI page for details. ECB President Lagarde will deliver to pre-recorded video messages for a presentation on central bank innovation held during the BIS Innovation Summit 2021.

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 26: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 26 Mar 2021 03:00GMT

EUR/USD - 1.1774
Yesterday's resumption of recent downtrend to a fresh 4-month low at 1.1762 (New York) suggests euro would remain under pressure and yield further weakness after initial consolidation, however, oversold condition is likely to keep price above 1.1710/15 and risk has increased for a minor correction to occur later today or Monday.

On the upside, only a daily close above 1.1827 (Thursday high) signals temporary bottom is made and yields stronger retracement to 1.1850 but reckon 1.1870/75 should cap upside.

The euro area countries will release a slew of eco. data in European morning, pay attention to key German Ifo business climate, street forecast for Mar is 93.2 vs prev. reading of 92.4, a lower than expected reading will triffer renewed euro selling.
The European Council will hold a meeting today n ECB President Lagarde will participate in the Euro Summit.

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 update

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Mar 2021 03:00GMT

EUR/USD - 1.1785
Although euro's rebound to 1.1804 (New York) on Friday due to broad-based usd's retreat suggests recent downtrend has made a temporary low at Thursday's 4-month trough at 1.1762 and consolidation is in store, reckon upside would falter well below 1.1850 and yield decline later today or tomorrow.

A firm break of 1.1773 would signal recovery has ended and head towards minor daily sup at 1.1746, 'loss of momentum' should keep price above 1.1710/15.

Data to be released today:
U.S. Dallas Fed mfg business index 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 update

 

[acetraderfx]

AceTraderFx Mar 30: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 30 Mar 2021 03:00GMT

EUR/USD - 1.1768
Euro's intra-day brief break of last Thursday's 1.1762 low to a fresh 4-month trough of 1.1761 (New York) signals medium-term erratic downtrend from 1.2349 (Jan) has resumed and expect minor consolidation before prospect of further decline, loss of downward momentum would limit weakness to 1.1700/10.

On the upside, only a daily close above 1.1804 signals temporary low is in place and risk stronger recovery, however, reckon res at 1.1850 would cap upside.

Data to be released on Tuesday :
New Zealand building permit, Japan unemployment, retail sales.
Italy consumer confidence, Swiss KOF indicator, France producer prices, EU economic sentiment, industrial sentiment, services sentiment, consumer confidence, business climate, Germany CPI, HCIP.
Canada average weekly earnings, U.S. redbook, monthly home price, CS home price, consumer confidence.

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 update

 

[acetraderfx]

AceTraderFx Mar 31: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 31 Mar 2021 03:00GMT

EUR/USD - 1.1723
Euro's anticipated resumption of recent downtrend from 2021 peak at 1.2349 (Jan) to a fresh 4-1/2 month trough of 1.1712 in New York yesterday due to continued usd's strength on the back of rising U.S. yields should pressure price after consolidation, loss of near term downward momentum would limit weakness to 1.1660/65.

On the upside, only a daily close above 1.1761 signals temporary low is made and yields stronger retracement of said decline, however, reckon 1.1800/10 should cap upside.

Data to be released on Wednesday :
Japan industrial output, construction orders, housing starts, New Zealand NBNZ business outlook, NBNZ own activity, building permits, China NBS non-mfg PMI, NBS mfg PMI.
Germany import prices, unemployment change, unemployment rate, U.K. GDP, nationwide house price, France consumer spending, CPI, producer prices, Swiss investor sentiment, EU HCIP, Italy CPI.
U.S. MBA mortgage app, ADP employment change, Chicago PMI, pending home sales, Canada GDP, producer prices.

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 update

 

[acetraderfx]

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

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

EUR/USD - 1.1723
Despite resumption of recent decline to a fresh 4-1/ 2 month trough of 1.1705 (Asia) yesterday, subsequent bounce to 1.1759 in New York suggests temporary low is possibly made and subsequent retreat would bring range trading before one morel rise, reckon res at 1.1804 should cap upside and bring another fall.

Only below 1.1705 extends marginal weakness, however, loss of downward momentum should keep euro above 1.1662 and risk has increased for a correction to take place ahead of Friday's U.S. jobs report.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details. Today is PMI day, pay attention to Germany's retails sales n then PMI data from Germany and the EU.

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 update

 

[acetraderfx]

AceTraderFx Apr 07: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 07 Apr 2021 03:00GMT

EUR/USD - 1.1871
Euro's rally yesterday above Mon's 1.1819 high to a near 2-week top of 1.1877 due to continued usd's weakness on falling U.S. yields suggests upmove from last Wednesday's 4-1/2 month trough at 1.1705 remains in progress and would extend marginal gain, overbought condition should cap price at 1.1947 and risk has increased for a strong retracement of said rise.

On the downside, below 1.1819 signal at least the 1st leg of correction over and heads back to 1.1786/96.

Data to be released on Wednesday :
Australia AIG construction index, Markit services PMI, Japan coincident index, leading indicator.
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, trade balance, and Canada trade balance, exports, imports, Ivey PMI.

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 update

 

[acetraderfx]

AceTraderFx Apr 08: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1870
Despite resumption of recent upmove from March's 4-1/2 month trough at 1.1705 to a 2-week high of 1.1914 (New York) yesterday, loss of upward momentum should cap euro's upside below res at 1.1947 and yield decline later today.

A daily close below 1.1850 would be the 1st signal said corrective rise has made a top, then risk would shift to downside for weakness to 1.1776/86 tomorrow or early next week.

Data to be released on Thursday:
Japan current account, trade balance, consumer confidence.
Germany industrial orders, France imports, exports, current account, trade balance, UK RICS housing price, construction PMI, EU producer prices.
U.S. initial jobless claims, continuing jobless claims.

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 update

 

[acetraderfx]

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

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

EUR/USD - 1.1906
Euro's resumption of upmove from March's 4-1/2 month trough at 1.1705 to a fresh 2-week high of 1.1927 in New York yesterday on usd's weakness suggests stronger retracement to 1.1947 would be seen after consolidation, however, loss of upward momentum should cap price below 1.1988/90 today.

On the downside, only below 1.1861/66 would risk weakness to 1.1819/21 but 1.1786/96 may hold.

The euro area countries will release a slew of eco. data, please refer to our EI page for details.
Pay attention to German indutrial outout at European open. ECB President n ECB board member Panetta will participate in the IMF/World Bank Spring 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 update