AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

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

EUR/USD - 1.1557
Although euro gained respite on Thursday after hitting a fresh 14-month bottom at 1.1530 Wednesday, as 1.1571 has capped recovery, downside bias remains for medium-term downtrend to test psychological 1.1500 handle, however, 'loss of downward momentum' is likely to limit weakness to 1.1470/75.

Only a daily close above 1.1571 (soft U.S. jobs report perhaps) risks stronger correction to 1.1613, reckon this week's high at 1.1640 (Monday) should remain intact.

The euro area countries will release a slew of eco. data n we also have some ECB officials scheduled to speak in European session too, please refer to our EI page for details.
Pay attention to speech by ECB President Lagarde when she and U.S. Treasury Yellen will speak at a B20 International Business Summit event in Italy.

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 11: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1573
Despite euro's brief jump to 1.1585 on Friday after a big miss in U.S. payrolls, lack of follow-through buying and subsequent sideways move suggests as long as said post-NFP high holds, downside bias remains for re-test of last Wed's fresh 14-month trough at 1.1530, then weakness to 'psychological' 1.1500 handle.

Only a daily close above 1.1585 risks stronger retracement of recent downtrend to 1.1613, however, reckon res at 1.1640 should cap upside this week.

Economic calendar is pretty light with Italy's industrial output being the only data due out.
We have a number of ECB officials scheduled to speak in European session (please refer to our EI page for details).
Pay attention to ECB President and ECB's Panetta who are participating in the IMF/World Bank Group annual meetings.

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 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 12 Oct 2021 03:00GMT

EUR/USD - 1.1549
Despite yesterday's marginal gain above Friday's post-NFP 1.1585 high to 1.1587 (Europe), subsequent retreat to 1.1550 near Monday's close suggests correction from last Wednesday's 14-month bottom at 1.1530 has ended and recent downtrend would head towards psychological 1.1500 handle, 'loss of downward momentum' should keep price above 1.1473.

On the upside, only above 1.1587 risks stronger retarcement towards 1.1613 but res at 1.1640 should remain intact.

Data to be released on Tuesday :
New Zealand retail sales, Japan corporate goods price, Australia NAB business conditions, NAB business confidence.
U.K. BRC retail sales, U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, EU ZEW survey expectations, Germany ZEW economic sentiment, ZEW current conditions, wholesale price index.
Canada leading index, U.S. redbook and JOLTS job openings.

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 15: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1592
Euro's retreat from 1.1624 (Europe) to 1.1585 in New York yesterday suggests early corrective rise from Tuesday's fresh 14-month trough at 1.1525 has possibly made a top and consolidation with downside bias is in store, a firm break of 1.1585 would add credence to this view and yield re-test of 1.1525 early next week.

Only a daily close above 1.1624 risks stronger retracement of medium-term downtrend to 1.1640, however, reckon 1.1664 would cap upside and yield decline.

Data to be released on Friday:
New Zealand manufacturing PMI, China retail sales, Japan tertiary industry activities.
Germany wholesale price index, France CPI, Italy CPI, trade balance, EU trade balance.
U.S. New York Fed manufacturing, import prices, export prices, retail sales, business inventories, University of Michigan Sentiment and Canada wholesale trade.

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 18: Daily Recommendations on Major -EUR/USD

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

Despite Friday's sideways swings following early retreat from Thursday's 9-day high of 1.1624, as long as 1.1575/80 holds, corrective rise from 1.1525 may yield marginal gain, loss of momentum would cap price below 1.1664 and yield decline.

A daily close below 1.1571 signals recovery is over and brings re-test of 1.1525 later.

No economic data is due out from the euro area countries today. We have ECB Board member de Cos scheduled to speak at a financial conference at 09:00GMT.

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 Oct 19: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 19 Oct 2021 03:00GMT

EUR/USD - 1.1618
Euro's rebound from Monday's 1.1572 low suggests re-test of last Thursday's 1.1624 high would be seen, however, as corrective rise from last Tuesday's 14-month bottom at 1.1525 is losing momentum, reckon 1.1664 (previous sup, now res) would cap upside and yield decline later today.

A daily close below 1.1572 signals correction is over and heads back towards 1.1525.

Data to be released on Tuesday:
Swiss trade balance, exports, imports, EU construction output.
U.S. building permits, housing starts, redbook, 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 20: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 20 Oct 2021 03:00GMT

EUR/USD - 1.1632
Despite resumption of recent erratic rise from Oct's 14-month trough at 1.1525 to a near 3-week high of 1.1669 (Europe) yesterday, subsequent retreat on usd's rebound in tandem with rally in U.S. yields suggests temporary top is possibly made, a daily close below 1.1624 would add credence to this view and heads towards 1.1572.

Only above 1.1669 risks marginal gain, however, loss of momentum would cap price below 1.1700/03.

Data to be released on Wednesday :
Japan exports, imports, trade balance, Australia Westpac leading index, China house prices.
U.K. CPI, RPI, PPI input prices, PPI output prices, FCLG house price index, Germany producer prices, EU current account, HICP.
U.S. MBA mortgage application and Canada CPI.

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 21: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1655
Euro's rebound from 1.1617 to 1.1658 yesterday suggests re-test of Tuesday's near 3-week high at 1.1669 would be forthcoming soon, break there would extend corrective rise from October's 1.1525 trough to 1.1700/05, however,' loss of upward momentum' should cap price below res at 1.1755 this week.

On the downside, only a daily close below 1.1617 signals said retracement is over, then outlook would turn bearish for weakness towards 1.1572 next week.

Data to be released on Thursday:
U.K. PSNB, PSNCR, CBI trend orders, France business climate, Italy industrial sales.
U.S. initial jobless claims, continuing jobless claims, existing home sales, leading index change, Canada ADP employment change, new housing price index and EU 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 Oct 22: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1628
Yesterday's retreat from 1.1667 to 1.1620 (New York) suggests further sideways swings below Tuesday's near 3-week high at 1.1669 would continue, as long as 1.1617 (Wednesday's reaction low) holds, outlook remains mildly bullish for corrective rise from October's 1.1525 bottom to head towards 1.1703 before prospect of decline early next week.

On the downside, only a daily close below 1.1609 signals top is made and yields stronger retracement towards 1.1572.

Today is PMI day in the euro area countries, France will kick off with Markt mfg and servcies PMIs, then the same from Germany n the EU.
Pay attention to German n EU PMIs, if readings are sofyer than street forecasts, then euro will come under renewed selling pressure.

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 25: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1645
Despite euro's daily sideways swings following early retreat from last Tuesday's near 3-week high of 1.1669 to 1.1617 (Wednesday), as long as this sup holds, corrective rise from October's 14-month trough at 1.1525 would head towards 1.1703 before decline due to loss of upward momentum.

A daily close below 1.1617 suggests correction is over and head back towards 1.1572.

On the data front, pay attention to key German Ifo business climate, current conditions n expectations at 08:00GMT, then later Buba monthly report. We also have ECB member de Cos speaking at 08:00GMT.

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