AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

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

EUR/USD - 1.1744
Euro's rebound from Thursday's 4-week trough at 1.1684 in Asia to as high as 1.1750 signals recent decline from September's 1.1908 peak has made a temporary low and consolidation with upside bias is seen, above Wednesday's post-FOMC high at 1.1755 would bring stronger retracement but reckon 1.1800 would cap upside.

On the downside, a daily close below 1.1701 suggests recovery is over, then price would be en route towards 2021 bottom at 1.1664 early next week.

On the data front, Italy will kick off with business n consumer confidence, then pay atttention to German Ofo business climate, current conditions n expectations.
We also have a no. of ECB members scheduled to speak, pls rrefer 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 update

 

[acetraderfx]

AceTraderFx Sept 27: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 27 Sept 2021 03:00GMT

EUR/USD - 1.1722
Friday's retreat to 1.1701 (New York) suggests recovery from Thursday's fresh 4-week low at 1.1684 has ended at 1.1750 and subsequent sideways swings would bring consolidation before re-test of 2021 bottom at 1.1664.

Only above 1.1750/55 res dampens bearish outlook and risks stronger retracement towards 1.1788 but reckon 1.1800 would cap upside and yield decline.

On the eco. front, we have France's producer prices, Italy's trade balance and Germany's Bundesbank monthly report. ECB President Lagarde will speak before European Parliament at 11:45GMT.
ECB's Panetta n de Cos will also speak later in the day (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 update

 

[acetraderfx]

AceTraderFx Sept 28: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1694
Yesterday's weakness to 1.1685 (Europe) due to cross-selling in euro suggests correction from Thursday's 4-week low at 1.1684 has ended at 1.1750 and re-test of 2021 bottom at 1.1684 (Aug) is envisaged after consolidation, however, loss of downward momentum should keep euro above 1.1620/25.

On the upside, only above Mon's 1.1727 top prolongs volatile sideways swings from 1.1684 and may risk another bounce to 1.1750/55.

Data to be released on Tuesday:
Australia retail sales.
Germany Gfk consumer sentiment, France consumer confidence.
Canada average weekly earnings, U.S. good trade balance, wholesale inventories, redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.

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 Sept 29: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1685
Yesterday's weakness to a 5-week 1.1668 low suggests re-test of 2021 bottom at 1.1664 (August) would be forthcoming next and yield medium-term downtrend, however, loss of downward momentum should keep euro above 1.1603 today and bring a minor correction.

On the upside, only a daily close above 1.1710 signals temporary low is made and yields stronger recovery, however, reckon res at 1.1750/55 should cap upside.

Data to be released on Wednesday:
U.K. BRC shop price index, nationwide house price, Italy producer prices, Swiss investor sentiment, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. MBA mortgage application, pending home sales, and Canada 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 Sept 30: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1602
Yesterday's break of previous 2021 low at 1.1664 (now res) to a 14-month trough of 1.1590 in New York due to broad-based usd's demand suggests medium-term downtrend has once again resumed and price would head towards next projected target at 1.1536 later today or Friday, oversold condition should keep euro above 'psychological' 1.1500 handle.

On the upside, only above 1.1664 confirms temporary bottom is in place, then risk would shift to upside for a stronger retracement to 1.1690/00.

The euro are countries will release a slew of eco. data as well as inflation data n also we have a number of ECB officials scheduled to speak in European session, 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 update

 

[acetraderfx]

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

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

EUR/USD - 1.1607
Although intra-day firm break of 1.1607/10 suggests recent downtrend has made a temporary 14-month trough at 1.1563 and marginal gain can't be ruled out, near term overbought condition should cap price below 1.164 (previous sup, now res) should hold and yield decline later today or tomorrow.

Below 1.1583/93 anytime signals recovery over, then euro would extend medium-term downtrend towards projected target at 1.1536.

Eco. calenar is pretty light with EU's Sentix investor sentiment being the only data due out at 08:30GMT.
There is a Eurogroup as well as EcoFin meeting 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 update

 

[acetraderfx]

AceTraderFx Oct 05: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1615
Although yesterday's rally above previous 1.1607/10 res (now sup) to 1.1640 in New York signals recent downtrend has made a temporary low at Thursday's 14-month bottom at 1.1563, a daily close above 1.1664 needed to bring stronger retarcement to 1.1690/00 before retreat.

A daily close below 1.1607 signals correction has ended, then risk would shift to downside for weakness to 1.1583/88, break yields re-test of 1.1563 later.

Data to be released on Tuesday :
Australia AIG construction index, services PPI, trade balance, imports, exports, RBA interest rate decision, Japan Tokyo CPI, China Market Holiday.
France industrial output, Markit services PMI, Italy Markit services PMI, GDP, Germany Markit services PMI, EU Markit services PMI, producer prices, U.K. Markit services PMI.
U.S. international trade balance, goods trade balance, redbook, Markit services PMI, ISM non-manufacturing PMI, Canada trace balance, exports, imports and New Zealand GDT price 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 update

 

[acetraderfx]

AceTraderFx Oct 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 Oct 2021 03:00GMT

EUR/USD - 1.1593
Euro's decline from 1.1640 (Monday) to 1.1581 yesterday suggests correction from September's 14-month trough at 1.1563 has ended and medium-term downtrend would head towards projected target at 1.1536 after consolidation.

On the upside, only above 1.1613 prolongs choppy sideways swings and risks re-test of 1.1640, however, reckon 1.1664 (previous sup, now res) would cap upside.

Data to be released on Wednesday :
China market holiday, New Zealand RBNZ interest rate decision.
Germany industrial orders, U.K. Markit construction PMI, EU retail sales.
U.S. MBA mortgage application and ADP employment change.

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 Oct 07: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1556
Euro's break of Sep's 1.1563 low (now res) Wednesday to a fresh 14-month 1.1530 low on safe-haven usd buying suggests Medium Term downtrend from 2021 peak at 1.2349 (January) would test 1.1500 handle, break would extend weakness to proj. obj. at 1.1473 before correction occurs.

Trade from short side for this move n only above 1.1581 signals temp. low made, risks 1.1613 later.

Data to be released on Thursday :
Australia AIG services index, China Market Holiday, Japan coincident index, leading indicator.
Swiss unemployment rate, U.K. Halifax house prices, Germany industrial output, France current account, trade balance, imports, exports, Italy retail sales.
U.S. initial jobless claims, continuing jobless claims and Canada 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 Oct 07: : Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 07 Oct2021 09:30GMT

USD/JPY - 111.34
Despite the greenback's fall from last Thursday's fresh 19-month peak at 112.07 to 110.83 in New York on Monday, subsequent strong rebound in tandem with U.S. yields and cross-selling in jpy suggests the first leg of correction has possibly ended and consolidation with upside bias is seen for gain towards 111.81, reckon 111.95/00 would remain intact and yield retreat later this week.

On the downside, only below 110.88 would revive bearishness for stronger retracement of Medium Term uptrend towards 110.79, then 110.54 before prospect of a rebound.

U.S. will later release weekly jobless claims and continued jobless claims.
We also have New York Fed President William and Cleveland Fed President Mester scheduled to speak at 12:40GMT and 15:45GMT respectively.

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