AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jan 2022 03:00GMT

EUR/USD - 1.1293
Euro's early decline from last Fri's 6-week peak at 1.1386 to 1.1273 (Tue) suggests correction from Nov's 16-month bottom at 1.1187 has possibly ended there, below 1.1273 would add credence to this view and head towards 1.1223.

On the upside, only a daily close above 1.1346 shifts risk to upside for a possible re-test of 1.1386 next week.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details, pay attention to EU's retail sales, eco. n consumer sentiment indices at 10:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jan2022 03:00GMT

EUR/USD - 1.1352
Euro's rally to 1.1364 in post-NFP New York Friday and break of previous 1.1346 resistance on broad-based usd's weakness suggests pullback from Dec's 6-week peak at 1.1386 has ended but above 1.1386 is needed to extend corrective rise from Nov's 16-month trough at 1.1187 towards 1.1434.

On the downside, a daily close below 1.1322 would prolong choppy sideways swings and weakness towards 1.1285, then 1.1273 would be seen later.

Data to be released today:
Australia building permits, Japan Market Holiday.
Italy industrial sales, unemployment rate, EU Sentix index, unemployment rate.
U.S. wholesale inventories, wholesale sales on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jan 2022 03:00GMT

EUR/USD - 1.1332
Although euro's selloff from 1.1364 (Friday) to as low as 1.1286 in New York yesterday on cross-selling in euro suggests further choppy trading below Dec's 6-week peak at 1.1386 would continue, subsequent strong rebound signals price may continue to gyrate inside 1.1386-1.1273 broad range before prospect of a downside break, below 1.1273 yields weakness towards 1.1235.

On the upside, only a daily close above 1.1386 resistance s risk stronger correction to 1.1420/30 later this week.

Data to be released on Tuesday:
Australia retail sales, trade balance, imports, exports, Japan coincident index, leading indicator.
U.K. BRC retail sales, NIESR GDP estimate, Italy retail sales.
U.S. mortgage application and redbook.

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AceTraderFx Jan 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 12 Jan 2022 03:00GMT

EUR/USD - 1.1369
Although euro's break of last Fri's top at 1.1364 to 1.1374 in New York Tuesday on broad-based usd's weakness after Fed Powell's less hawkish comments suggests re-test of Nov's 1.1386 peak is seen, above needed to extend rise from Nov's 16-month 1.1187 bottom towards 1.1434 later.

On the downside, a daily close below 1.1314 would prolong choppy sideways swings and yield weakness to 1.1273/78.

Data to be released on Wednesday:
Japan current account, trade balance, Eco watchers current, Eco watchers outlook, China PPI, CPI.
Germany wholesale trades, EU industrial production, U.S. MBA mortgage application, CPI and Federal budget.

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AceTraderFx Jan 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jan 2022 03:00GMT

EUR/USD - 1.1442
Despite euro's daily wild swings from Dec's 6-week high at 1.1386, yesterday's rally above there to as high as 1.1452 in New York Wednesday on broad-based usd's weakness despite strong but in-line U.S. inflation data confirms upmove from Nov's 16-month bottom at 1.1187 has finally resumed and above 1.1463 would yield stronger gain to 1.1515/25 after consolidation.

On the downside, only a daily close below 1.1386 signals a temporary top is in place and weakness towards 1.1355 is seen later.

Data to be released on Thursday:
New Zealand building permits, Australia consumer inflation.
U.K. RICS housing price balance, Italy industrial output, trade balance.
U.S. initial jobless claims, continuing jobless claims and PPI.

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AceTraderFx Jan 14: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 14 Jan 2022 03:00GMT

EUR/USD - 1.1456
Euro's rally above 1.1452 (Wed) to a fresh 7-week peak at 1.1481 in New York Thursday on continued usd's weakness suggests recent upmove from Nov's 16-month trough at 1.1187 would extend towards 1.1525 but near term 'loss of momentum' should cap price at 1.1542/47 and yield decline later.

On the downside, only below 1.1415/20 may signal a temporary top is in place and risk stronger retracement towards 1.1386.

On the data front, the euro area will release a slew of data, pls refer to our EI page for details.
We also have ECB President Lagarde n ECB board member de Cos will also speak during NY morning.

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AceTraderFx Jan 17 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 17 Jan 2022 03:00GMT

EUR/USD - 1.1405
Despite euro's resumption of recent upmove from Nov's 16-month trough at 1.1187 to a fresh 7-week 1.1482 top (Asia) on Fri, subsequent fall to 1.1399 in New York on safe-haven usd's buying signals temporary high is possibly in place and daily close below 1.1386 would ass credence to this view, yield stronger retracement towards 1.1355, then 1.1314.

On the upside, above 1.1448/52 is needed to suggest pullback over and may bring re-test of 1.1482.

Eco. calendar is pretty light with Italy's CPI n trade balance. There is a Eurogroup meeting in Brussels n ECB President Lagarde n ECB member Panetta will participate in the meeting.

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AceTraderFx Jan 18 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jan 2022 03:00GMT

EUR/USD - 1.1409
Despite euro's resumption of recent upmove from Nov's 16-month trough at 1.1187 to a fresh 7-week 1.1482 top (Asia) on Fri, subsequent fall to 1.1399 and yesterday's break there to 1.1393 on continued usd's strength in thin North America trading signals temporary high is possibly in place and daily close below 1.1386 would add credence to this view, yield stronger retracement towards 1.1360, 1.1334.

On the upside, above 1.1448/52 is needed to suggest pullback over and may bring re-test of 1.1482.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details. Pay attention to German ZEW economic sentiment n EU's ZEW survey expectation. EcoFin ministers will meet in Brussels n ECB's Vice President de Guindos will participate in the meeting.

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AceTraderFx Jan 19 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 19 Jan 2022 03:00GMT

EUR/USD - 1.1325
Euro's intra-day selloff yesterday from 1.1421 (Asia) and then break of 1.1386 sup to as low as 1.1315 in New York due to broad-based usd's strength on surge in U.S. yields and global stock weakness suggests correction from 2021 Nov's 1.1187 trough has ended at 1.1482 (Fri) and weakness towards 1.1223 may be seen later this week.

Only a daily above 1.1386 dampens present bearish view and may risk stronger recovery to 1.1421 before prospect of another fall.

Data to be released on Wednesday:
New Zealand retail sales.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, Germany CPI, EU current account, construction output.
U.S. MBA mortgage application, building permits, housing starts, redbook and Canada wholesale trade.

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AceTraderFx Jan 20 :Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jan 2022 03:00GMT

EUR/USD - 1.1347
Euro's early decline from Fri's 7-week peak at 1.1482 to as low as 1.1315 on Tue strongly suggests correction from 2021 16-month bottom at 1.1187 (Nov) has ended there and yesterday's recovery to 1.1356 (NY) would bring consolidation before down, loss of momentum would keep price above daily pivotal sup at 1.1273.

Only a daily close above 1.1386 dampens bearish outlook and may risk stronger gain to 1.1410/20 later.

Data to be released on Thursday:

New Zealand food price index, Australia consumer sentiment, consumer inflation expectation, employment change, unemployment rate, Japan exports, imports, trade balance.
U.K. RICS housing price balance, Germany producer prices, France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and existing home sales.

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