AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Jan 2022 03:00GMT

EUR/USD - 1.1303
Euro's intra-day fall on Thur from 1.1368 (Europe) and then break of 1.1315 (Tue) to 1.1304 in late New York on safe-haven usd buying due to renewed weakness in U.S. stocks suggests early upmove from Nov's 2021 16-month trough at 1.1187 has ended at last Fri's fresh 7-week 1.1482 top and below 1.1299 would head towards daily pivotal sup at 1.1273.

On the upside, only above 1.1368 may risk stronger retracement of aforesaid fall to 1.1381/86 next week.

On the data front, the only ecomomic data due out is EU's consumer confidence ar 15:00GMT. We also have ECB President Lagarde participates in virtual session at World Economic Forum in Davos at 12:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 Jan 2022 03:00GMT

EUR/USD - 1.1339
Although euro's rebound after extending recent decline from Jan's 1.1482 top to an 8-day bottom at 1.1302 in Asia suggests temporary low is made, as 1.1359 (NY) had capped recovery in New York, consolidation with downside bias remains and below 1.1302 would extend said fall towards 1.1302, then later 1.1273.

On the upside, only a daily close above 1.1386 risks stronger retracement of said fall towards 1.1405.

Today is PMI day in the euro area countries, pls refer to our EI page for details.
Pay attention to german n EU's Markit mfg n services PMIs, if actual readings come in weaker than forecast, then euro would come under renewed selling pressure.

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Jan 2022 03:00GMT

EUR/USD - 1.1323
Despite euro's brief break below last Fr's 1.1302 low to a near 2-week bottom at 1.1291 in New York yesterday, subsequent rebound on broad-based retreat in usd due to strong recovery in U.S. stocks suggests a temporary bottom is made there and retracement towards 1.1359 may be seen before recent decline from Jan's 7-week 1.1482 peak heads towards 1.1273 later.

On the upside, only a daily close abv 1.1359 may risk stronger gain twd 1.1386.

Data to be released on Tuesday:
New Zealand business NZ PSI, Australia NAB business conditions, NAB business confidence, CPI.
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. PSNB, PSNCR, CBI trends orders.
U.S. redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.

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AceTraderFx Jan 26: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jan 2022 03:00GMT

EUR/USD - 1.1304
Although euro's break of previous Jan's 1.1273 low to 1.1264 Tue suggests correction from 2021 bottom at 1.1187 (Nov) has ended at 1.1482 in mid-Jan, subsequent short-covering rebound in tandem with U.S. stocks would bring consolidation before another fall, loss of downward momentum should keep price above 1.1223.

On the upside, only a daily close above 1.1368 aborts recent bearish outlook and risks stronger gain to 1.1395/00.

Data to be released on Wednesday:
New Zealand imports, trade balance, exports, Australia Market Holiday, Japan coincident index, leading indicator.
France consumer confidence, Swiss investor sentiment.
U.S. MBA mortgage application, building permits, goods trade balance, wholesale inventories, new home sales, Fed interest rate decision and Canada BOC interest rate decision.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 Jan 2022 03:00GMT

EUR/USD - 1.1235
Euro's selloff in post-FOMC New York from 1.1300 to a fresh 1-month bottom at 1.1236 due to broad-based usd's strength on Fed Powell's hawkish comments suggests further weakness would be seen, however, below 2021 bottom at 1.1187 (Nov) needed to retain bearishness for further decline towards projected downside target at 1.1222 later.

On the upside, only a daily close above 1.1310 (Wed high) signals temporary low is in place and risks stronger retracement to 1.1334/36 before down.

Data to be released on Thursday:
New Zealand CPI, Australia Westpac leading index, export prices, imports prices.
Germany Gfk consumer sentiment, Swiss exports, imports, trade balance, Italy industrial sales.
U.S. durable goods, durables ex-transport, durables ex-defense, GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing and Canada average weekly earnings.

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jan 2022 03:00GMT

EUR/USD - 1.1144
Euro's selloff and firm break below 2021 low at 1.1187 (Nov, now res) to a 20-month bottom at 1.1133 in New York Thursday on follow-through usd's buying after Fed Powell's hawkish comments suggests medium-term downtrend has resumed would pressure price towards 1.1036 next week.

On the upside, only a daily close above 1.1187 signals a temporary trough is in place and may risk stronger retracement to 1.1231/36 on Mon.

Ahead of release of key U.S. PCE price index, the uro area countries will release a slew of eco. data, pls refer to our EI page for details.

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

DAILY MARKET OUTLOOK on Major
Update Time: 31 Jan 2022 03:00GMT

EUR/USD - 1.1146
Despite euro's short-covering rebound from Friday's 20-month bottom at 1.1122 (Europe) to 1.1173 in New York, as long as 1.1187 (2021 low, now res) holds, downside bias remains for recent downtrend to head towards 1.1036 later this week.

On the upside, only daily close above 1.1187 signals temporary bottom is made, risks stronger gain to 1.1220/30.

Data to be released today:
Japan industrial output, retail sales, consumer confidence, construction orders, housing starts, China Market Holiday.
Italy GDP, EU GDP, Germany CPI.
Canada producer prices, U.S. Chicago PMI and Dallas Fed manufacturing business index on Monday.

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

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

EUR/USD - 1.1450
Euro's impressive rally on Thursday from 1.1268 to as high as 1.1451 after hawkish comments by ECB's Lagarde in post-ECB presser suggests recent upmove from Jan's 20-month bottom at 1.1122 remains in force and would head to 1.1482, overbought condition should cap price below 1.1514.

On the downside, only below 1.1368 confirms 1st leg of correction is over and may risk stronger retracement to 1.1330 but 1.1268 should remain intact.

Data to be released on Friday :
New Zealand building permits, China Market Holiday.
Germany industrial orders, France non-farm payrolls, U.K. Market construction PMI, EU retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.

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

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

EUR/USD - 1.1445
Despite euro's resumption of recent upmove from Jan's fresh 20-month trough at 1.1122 to an 11-week high of 1.1483 in Europe last Friday, subsequent fall to 1.1412 after robust US NFP signals a temporary top is in place and below 1.1412 would bring stronger retracement towards 1.1368 after range trading.

On the upside, only above 1.1483 may risk one more rise, however, loss of upward momentum would cap price below 1.1514 and yield a much-needed correction later today or Tue.

On the data front, we have German industrial output at European open at 07:00GMT, then EU Sentix index at 09:30GMT. ECB President Lagarde will later speak in a regular hearing to the European Parliament's Committee on Economic and Monetary Affairs at 15:45 GMT and beware of a brief jump in the euro if she repeats her hawkish comment made in post-ECB presser last Thur.

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Feb 2022 03:00GMT

EUR/USD - 1.1441
Although euro's retreat from from last Fri's 11-week peak at 1.1483 to 1.1412 in post-NFP New York signals upmove from Jan's fresh 20-month trough at 1.1122 has made a temporary top there, yesterday's choppy sideways swings would yield further consolidation and as long as 1.1468 (Mon high) holds, downside bias remains, below 1.1412 would bring stronger retracement towards 1.1368 later.

On the upside, a firm break above 1.1468 signals pullback over and risks re-test of 1.1483, then one more rise to 1.1510/14 before prospect of a much-needed correction.

Data to be released on Tuesday:
Japan household spending, current account, trade balance, Eco watchers outlook, Australia business conditions, business confidence.
France imports, exports, current account, trade balance, Italy retail sales.
Canada imports, exports, trade balance, U.S. trade balance and redbook retail sales.

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