AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Jun 2021 03:00GMT

EUR/USD - 1.1870
Friday's resumption of recent decline to a 2-1/2 month trough of 1.1848 (New York) due to active safe-haven usd buying suggests euro would extend further weakness after minor consolidation, however, near term loss of momentum is likely to keep price above above 1.1786 and risk has increased for a correction.

On the upside, only above 1.1925 signals temporary low is made and yields retracement towards 1.1950 before retreat.

No eco. data is due out from the euro area countries. ECB President Lagarde will appear at the Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament at 14:15 GMT.

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 Jun 22: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 22 Jun 2021 03:00GMT

EUR/USD - 1.1907
Although euro's rebound on Monday after initial re-test of Fri's 2-1/2 month trough at 1.1848 suggests recent decline has made a temporary low and 1-2 days of consolidation is in store, as long as 1.1950 holds, downside bias remains, however, loss of near term downward momentum would keep price above 1.1800/10.

Only a daily close above 1.1950 may risk stronger retracement towards 1.20006 before prospect of retreat later this week.

On the data front, we have Italy's industrial sales n then EU's consumer confidence. We also have ECB's Lane speaking on "The resilience of the euro" at 14:00GMT n then ECB's Schnabel speaking at 17:30GMT.

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 update

 

[acetraderfx]

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

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

EUR/USD - 1.1933
Euro's break of 1.1921/25 res to 1.1952 yesterday's due to broad-based usd's weakness following Fed J. Powell's dovish testimony before the Congress confirms recent decline from 1.2266 (May) has made a temporary low earlier at 1.1848 (Friday), near term overbought condition should prevent strong gain and recon res at 1.2006 should cap upside and yield retreat later this week.

On the downside, a daily close below 1.1921 would be the first signal recovery is over, then risk would shift to downside for weakness to 1.1882.

Data to be released on Wednesday:
Australia manufacturing PMI, services PMI, Japan Jibun bank manufacturing PMI, coincident index, leading indicator.
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI.
U.S. MBA mortgage app, building permits, current account, Markit manufacturing PMI, Markit services PMI, new home sales and Canada 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 update

 

[acetraderfx]

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

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

EUR/USD - 1.1930
Despite extending erratic rise from last Friday's 9-week trough at 1.1848 to 1.1969 in New York morning on continued usd's weakness after soft U.S. data, intra-day decline following hawkish comments by Fed officials suggests temporary top is made and consolidation with downside bias is in store.

Below 1.1911 signals correction is possibly over and heads back towards 1.1882, then re-test of 1.1848 next week. Only above 1.1969 risks marginal gain but loss of upward momentum should cap price below res at 1.2006.

Data to be released on Thursday:
Germany import prices, Ifo business climate, Ifo current conditions, Ifo expectations, France business climate, U.K. BoE interest rate decision, asset purchase program, BoE QE total, BoE QE corporation bond purchases, BoE MPC vote hike, BoE vote unchanged, BoE vote cut.
U.S. durable goods, durable ex-transport, durables ex-defence, GDP, PCE prices, trade balance, wholesale inventories, initial jobless claims, continuous jobless claims, KC Fed manufacturing and Cana average weekly earnings.

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

 

[ForexWarrior2020]

Really nice analysis its one of the pairs I trade ill be keeping an eye on this thread

 

[acetraderfx]

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

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

EUR/USD - 1.1930
Although yesterday's sideways swings below Wednesday's 1.1969 high suggests consolidation may continue ahead of release of Fed's preferred inflation gauge, namely the core personal consumption expenditures price index later today, downside bias remains and below 1.1882 would signal correction from last Friday's 2-1/2 month trough at 1.1848 has ended and yield re-test of this level next week.

Only a daily close above 1.1969 may risk stronger retracement of recent decline towards 1.2006.

Data to be released on Friday:
New Zealand import, trade balance, exports.
U.K. Gfk consumer confidence, Japan Tokyo CPI, Germany Gfk consumer sentiment, Italy consumer confidence, trade balance.
U.S. CBI distributive trades, personal income, personal spending, PCE prices and University of Michigan sentiment.

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 Jun 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jun 2021 03:00GMT

EUR/USD - 1.1937
Euro's intra-day retreat from 1.1975 to 1.1927 in hectic New York trading due to broad-based rebound in usd in tandem with rally in U.S. yields suggests correction from Jun's 2-1/2 month trough at 1.1848 has possibly ended and consolidation with downside bias is seen, below 1.1882 would head back towards 1.1848 later this week.

Only a daily close above 1.1975 risks stronger retracement of recent decline, however, 'loss of upward momentum' should cap price below res at 1.2006 and yield retreat.

On the data front, the only eco.data due out is German import prices. We have a number of ECB members scheduled to speak, pls refer to our EI page for details. Pay attention to speech by ECB Vice President de Guindos at the EURO FINANCE Summit in Frankfurt at 14:00GMT.

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 update

 

[acetraderfx]

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

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

EUR/USD - 1.1925
Euro's retreat from 1.1975 (Fri) to 1.1903 yesterday strongly suggests early correction from Jun's 2-1/2 month trough at 1.1848 has ended there, however, subsequent rebound in New York on falling U.S. yields would bring sideways swings before another fall, however, reckon 1.1848 should remain intact.

On the upside, only a daily close above Mon's 1.1944 high prolongs consolidation and may head back towards 1.1975, loss of upward momentum would cap price below res at 1.2006.

Data to be released on Tuesday :
Japan unemployment rate, retail sales.
France ILO unemployment rate, consumer confidence, UK nationwide house price, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. redbook, monthly home price index, 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 Jun 30: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1903
Although euro's break of indicated sup at 1.1882 to 1.1879 yesterday suggests correction from June's 2-1/2 month trough at 1.1848 has ended, subsequent short-covering rebound due to intra-day selloff in U.S. yields would bring consolidation before prospect of another fall, 'loss of downward momentum' should keep price above 1.1805/10.

Only above 1.1939/44 res prolongs volatile trading above 1.1848 and may risk stronger gain to 1.1965/75.

Data to be released on Wednesday :
China NBS non-manufacturing PMI, NBS manufacturing PMI, New Zealand NBNZ business outlook, NBNZ own activity, Japan consumer confidence, construction orders, housing starts, industrial output.
Germany import prices, unemployment change, unemployment rate, Italy producer prices, CPI, Germany EU HICP.
U.K. BRC shop price index, GDP, current account, nationwide house price, France consumer spending, CPI, producer prices, Swiss KOF indicator, investor sentiment.
U.S. MBA mortgage app, ADP employment change, Chicago PMI, pending home sales and 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 July 02: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1845
As euro has fallen after staging a short-covering rebound from Thursday's 11-week low of 1.1838 to 1.1884 (New York), suggesting recent decline is en route towards next chart obj. at 1.1786, however, reckon 2021 bottom at 1.1705 (March) should remain intact.

On the upside, only a daily close above 1.1884 signals temporary low is in place and risks stronger retracement towards 1.1944.

Data to be released on Friday:
Germany retail sales, France budget balance, EU producer prices.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, international trade balance, goods trade balance, durables ex-defense , durable goods, durables ex-transport, factory orders, Canada building permits, trade balance, exports, imports and Markit manufacturing 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