AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

EUR/USD - 1.3331
Euro's erratic rise from this week's low at 1.2235 (Mon) to 1.1342 yesterday suggests recent daily wild swings are likely to continue possibly until end of next week as price continues to gyrate inside 1.1187-1.1382 broad range.

As long as last week's high at 1.1360 holds, prospect of another retreat remains, below 1.1300 would add credence to this view and head back towards 1.1261. A daily close above 1.1360 would risk re-test of 1.1382.

Data to be released on Thursday :
Japan coincident index, leading indicator.
Germany import prices, Italy business confidence, consumer confidence.
U.S. building permits, personal income, personal spending, core PCE price index, durable goods, durables ex-transport, durables ex-defense, initial jobless claims, continuing jobless claims, University of Michigan sentiment, new home sales, Canada GDP and average weekly earnings.

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

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

EUR/USD - 1.1325
Euro's rise from this week's low at 1.1235 (Mon) to 1.1342 Wed and yesterday's choppy sideways swings suggests further volatile trading inside recent 1.1382-1.1223 range would continue, as long as last week's high at 1.1360 (Thur) holds, downside bias remains, below 1.1291 (NY low) would head back to 1.1261/64 but reckon 1.1235 would remain intact.

A firm break of 1.1360 would shift risk to upside for re-test of Nov's peak at 1.1382.

No economic data is due out on this Christmas Eve, Germany and other European centres are closed.

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

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

EUR/USD - 1.1330
Despite euro's relatively narrow swings in holiday-thin Monday's session, as last week's rise from 1.1235 (Mon) to 1.1343 and subsequent retreat to 1.1304 suggests price remains confined inside recent 1.1187-1.1382 broad range, possibly for rest of this holiday-abbreviated week, reckon 1.1360 should cap upside and yield decline, below 1.1291 would pressure price back towards 1.1261.

Only above said pivotal res at 1.1360 aborts recent bearish outlook and risks re-test of 1.1382.

Data to be released on Tuesday :
New Zealand Market Holiday, Australia Market Holiday, Japan unemployment rate, industrial production.
U.K. Market Holiday.
Canada Market Holiday, U.S. redbook, monthly home price and Richmond Fed manufacturing.

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

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

EUR/USD - 1.1315
Despite last week's rise from 1.1235 to 1.1343 (Friday), euro's retreat to 1.1290 in New York yesterday suggests the daily wild swings inside recent broad range of 1.1187-1.1382 would continue this week, as long as 1.1343 holds, downside bias remains, below 1.1261 would yield weakness toward 1.1223 later.

On the upside, only above 1.1343 risks gain towards pivotal res at 1.1360 where a break there yields re-test of 1.1382

Data to be released on Wednesday :
Swiss investor sentiment, U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales.

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

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

EUR/USD - 1.1351
Euro's intra-day rally from 1.1274 (Europe) and then a brief break above last week's 1.1360 high to 1.1368 in New York due to broad-based usd's weakness suggests an upside break of the near 1-month long daily swings from 1.1382 has occurred, above there would extend upmove from Nov's 16-month bottom at 1.1187 towards 1.1434 later.

Only a daily close below 1.1334 'prolongs' choppy consolidation and yields weakness to 1.1274, then 1.1235.

No eco. data is due out from the euro area countries. Markets in Germany, France, Italy n Switzerland will closed for holiday on Fri.

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

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

EUR/USD - 1.1325
Euro's intra-day choppy sideways swings on Thur and subsequent weakness to 1.1299 in New York after hitting a 4-week high of 1.1368 ( Wed) signals further volatile swings below daily 1.1382 res would continue, below 1.1290/99 would head back to 1.1274 but reckon 1.1235 should hold.

On the upside, only above 1.1368 would yield re-test of 1.1382, break extends upmove from 1.1187 (Nov) towards 1.1434 later next week.

Data to be released on Friday :
New Zealand Market Holiday, Australia Market Holiday, China NBS manufacturing PMI, NBS non-manufacturing PMI.
Germany Market Holiday, Swiss Market Holiday, Italy Market Holiday, France Market Holiday.

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AceTraderFx Jan 03: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 03 Jan 2022 03:00GMT

EUR/USD - 1.1363
Friday's marginal gain above previous daily res at 1.1382 to a 6-week high of 1.1386 in holiday-thin N. American session suggests corrective rise from Nov's 16-month bottom at 1.1187 may extend further headway after consolidation, loss of momentum is likely to cap price below 1.1434.

On the downside, a daily close below 1.1343 anytime signals top is in place and yields weakness to 1.1299/04 later.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jan 2022 03:00GMT

EUR/USD - 1.1305
Despite euro's rally to a 6-week high of 1.1386 last Fri, yesterday's selloff to 1.1280 in New York on broad-based usd's strength due to rally in U.S. yields suggests upmove from Nov's 16-month trough at 1.1187 has made a top there and below last week's 1.1274 bottom (Wed) would yield stronger retracement towards 1.1235.

On the upside, only a daily close above 1.1336 dampens present bearish view on euro and may risk gain to 1.1366, break, 1.1386.

Data to be released on Tuesday:
New Zealand Market Holiday, GDT price index, Australia AIG services, manufacturing PMI.
U.K. BRC shop price index, Markit manufacturing PMI, Japan Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, unemployment change, unemployment rate, Swiss CPI, France CPI.
Canada producer prices, Markit manufacturing PMI, U.S. redbook, ISM manufacturing PMI and JOLTS job openings.

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

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jan 2022 03:00GMT

EUR/USD - 1.1284
Euro's selloff from Friday's 6-week high of 1.1386 to 1.1280 (Monday), then yesterday's weakness to 1.1273 suggests correction from November's 16-month trough at 1.1187 has ended and despite bouncing to 1.1322 in New York on broad-based weakness in usd, subsequent retreat signals bearishness is retained but 1.1223 may contained downside.

Only a daily close above 1.1322 dampens present bearish view on euro and may risk gain to 1.1350/60, break, 1.1386.

Data to be released on Wednesday:
Japan consumer confidence.
France consumer confidence, Markit Services PMI, Italy Markit Services PMI, CPI, Germany Markit Services PMI, EU Markit Services PMI.
U.S. MBA mortgage application, ADP employment change, Markit Services PMI, Canada building permits and new housing price index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Jan 2022 03:00GMT

EUR/USD - 1.1310
Euro's early decline from last Fri's 6-week peak at 1.1386 to 1.1273 this week (Tue) suggests corrective rise from Nov's 16-month bottom at 1.1187 has possibly ended there and despite staging a short-covering rally to 1.1346 yesterday, subsequent retreat after hawkish Fed minutes has retained bearishness, below 1.1273 would encourage for weakness towards 1.1223.

Only a daily close above 1.1346 shifts risk to upside for a possible re-test of 1.1386 later.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details n pay attention to German industrial order.
ECB board member Schnabel will speak before the German parliament at 14:00GMT.

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