AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

EUR/USD - 1.2123
Euro's intra-day selloff in New York session Thur on the back of jump in U.S. yields after robust U.S. ADP payrolls and then break of last week's 1.2133 low to 1.2119 confirms decline from May's fresh 4-1/2 month peak at 1.2266 has once again resumed, oversold condition is expected to keep price above 1.2052 sup and bring recovery later.

On the upside, only a daily close above 1.2165 (Wed low, now res) signals 1st leg of correction is over and may risk stronger gain to 1.2208/18.

Data to be released on Friday :
Japan all household spending, UK Markit construction PMI, EU retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, durables ex-defense, durable goods, durables ex-transport, factory orders.
Canada employment change, unemployment rate, labor productivity rate, Ivey PMI.

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

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

EUR/USD - 1.4171
Despite resumption of recent erratic fall from May's high at 1.2266 to a near 3-week low at 1.2105 (Europe) on Friday, intra-day jump to 1.2185 after U.S. payrolls missed market forecast strongly suggests pullback has ended and consolidation with upside bias is seen, above 1.2208/18 res area would encourage for gain towards 1.2266 later this week.

Only a daily close below 1.2133 aborts bullish view and risks re-test of 1.2105, however, 'loss of downward momentum' should keep price above 1.2052.

Thee only economic data due out today is Germany's industrial oders. We also have ECB members Holzmann n Jochnick scheduled to speak at 08:00GMT n 12:30GMT respectively.

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

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

EUR/USD - 1.2185
Euro's rally from 1.2105 to 1.2185 on Friday, then yesterday's gain to 1.2201 (New York) strongly suggests early correction from May's 4-1/2 month peak at 1.2266 has ended, intra-day retreat would bring consolidation before prospect of further gain, however, loss of upward momentum would cap price below last week's high at 1.2254.

On the downside, only a daily close below Mon's 1.2145 low aborts bullish view and may risk weakness towards 1.2105.

Data to be released on Tuesday :
Japan current account, trade balance, GDP deflator, GDP, Economy Watchers outlook, Economy Watchers current, Australia NAB business conditions, NAB business confidence.
UK BRC retail sales, Germany industrial output, ZEW economic sentiment, ZEW current conditions, France current account, trade balance, imports, exports, Italy retail sales, EU employment change, GDP, ZEW survey expectations.
Canada leading index, trade balance, exports, imports, and U.S. trade balance, redbook, JOLTS job openings.

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

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

EUR/USD - 1.2176
Despite yesterday's sideways move following early rally from last Friday's near 3-week trough at 1.2105 to 1.2201 (Monday), as this move signals correction from May's 4-1/2 month peak at 1.2266 has possibly ended, a daily close above 1.2201 would encourage for gain towards 1.2266 later this week.

Only a firm break of 1.2145 aborts bullish outlook and may risk re-test of 1.2105.

Data to be released on Wednesday :
New Zealand manufacturing sales, Australia consumer sentiment, China PPI, CPI, Japan machine tool orders.
Germany exports, imports, trade balance, current account.
Canada leading index, Bank of Canada interest rate decision, and U.S. MBA mortgage applications, wholesale inventories, wholesale sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jun 2021 03:00GMT

EUR/USD - 1.2178
Despite yesterday's resumption of near term upmove from 1.2105 (Friday) to 1.2218 in New York due to falling U.S. yields, intra-day sharp retreat on safe-haven usd's buying in reaction to weakness in U.S. equities suggests temporary top is made and consolidation with downside bias is seen ahead of key ECB monetary policy announcement and then release of U.S. inflation data.

Above 1.2218 would signal correction from May's 1.2266 peak has ended and gain towards there would follow whilst a daily close below 1.2145 would shift risk to downside for weakness towards 1.2105.

Data to be released on Thursday :
Australia consumer inflation expectations, Japan corporate goods price index.
UK RICS housing price balance, France non-farm payrolls, industrial output, Italy industrial output, EU ECB refinancing rate, ECB deposit rate.
U.S. core CPI, CPI, real weekly earnings, initial jobless claims, continued jobless claims, Federal budget.

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jun 2021 03:00GMT

EUR/USD - 1.2177
Despite euro's intra-day brief fall from 1.2194 to 1.2144 on ECB Lagarde's dovish comments, subsequent rebound due to usd's weakness on the back of selloff in U.S. yields suggests pullback from this week's 1.2218 high has ended, a daily close above there would encourage for further headway towards May's peak at 1.2266 next week.

On the downside, only below 1.2144 prolongs this week's daily wild swings and would risk marginal weakness, loss of downward momentum should keep price above 1.2105.

The only EU eco. data due out is German wholesale price index. G7 starts its 3-day meeting in England later today, pay attention to comments by G7 officials. We also have ECB member Fernandez-Bollo speaking at an event at 12:00GMT.

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AceTraderFx Jun 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 15 Jun 2021 03:00GMT

EUR/USD - 1.2118
Although euro's rebound from 1.2095 (Europe) to 1.2130 in New York yesterday suggests recent decline has made a temporary low at Friday's 4-week trough at 1.2093, as long as 1.2144 (previous sup, now res) holds, bearishness remains for subsequent weakness, 'loss of momentum' should keep price above 1.2052.

Only a daily close above 1.2093 may risk stronger retracement towards 1.2194 before prospect of retreat later this week.

The euro area countries will release a slew of inflation data, please refer to our Economic Indicators page for details. We also have some ECB members scheduled to speak in European session.

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jun 2021 03:00GMT

EUR/USD - 1.2124
Although euro's retreat from 1.2148 to 1.2102 yesterday suggests correction from Friday's near 4-week trough at 1.2093 has possibly ended, subsequent rebound is likely to bring sideways ahead of key FOMC announcement later today.

Below 1.2093 would extend recent decline to next chart objective at 1.2052 whilst a daily close above 1.2148 (Fed's dovish hold perhaps) shifts risk to upside for stronger retracement towards 1.2194, break, 1.2218.

Data to be released on Wednesday :
New Zealand current account, Japan machinery orders, exports, imports, trade balance, Australia Westpac leading index, China industrial output, retail sales.
UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output prices, DCLG house price index, EU labour costs, U.S. MBA mortgage applications, building permits, housing starts, import prices, export prices, Fed interest rate decision, and Canada CPI, core CPI, wholesale trade.

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 Jun 2021 03:00GMT

EUR/USD - 1.1998
Euro's selloff in post-FOMC New York session below previous June's 1.2093 low on Wednesday to a 5-week trough of 1.1985 today following Fed's hawkish tilt suggests recent rise from 2021 bottom at 1.1705 has ended at 1.2266 (May) and downside bias remains for further weakness after consolidation, oversold condition may keep euro above 1.1919 (61.8% r of 1.1705-1.2266).

On the upside, only a daily close above 1.2052 dampens bearishness and may risk gain twd 1.2093 before prospect of another fall.

Data to be released on Thursday :
New Zealand Westpac consumer survey, GDP, China house price index, Australia employment change, unemployment rate.
Swiss trade balance, exports, imports, SNB interest rate decision, Italy trade balance, EU construction output, HICP, core HICP.
Canada ADP employment change, and U.S. initial jobless claims, continued jobless claims, Philadelphia Fed manufacturing index, leading index change.

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jun 2021 03:00GMT

EUR/USD - 1.1908
Yesterday's follow-through selloff to a 2-month low of 1.1893 following Wed's surprise hawkish tilt by the Fed suggests recent decline would pressure price towards next chart objective at 1.1868,
oversold condition should prevent further steep decline.

Only a daily close above New York high at 1.1950 signals temporary low is made and risks stronger retracement to 1.2000/05 before prospect of another fall next week.

Data to be released on Friday :
Japan nationwide core CPI, nationwide CPI, Bank of Japan interest rate decision.
Germany producer prices, UK retail sales, retail sales ex-fuel, EU current account.
Canada new housing price index.

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