AceTraderFx: Daily Market Outllook on Major -EUR/USD

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AceTraderFx Feb 09: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 09 Feb 2022 03:00GMT

EUR/USD - 1.1418
Although euro's retreat from last Friday's 11-week peak at 1.1483 to 1.1412 in post-NFP New York and yesterday's weakness to 1.1397 in Europe signals upmove from Jan's fresh 20-month trough at 1.1122 has made a temporary top there, subsequent rebound would bring consolidation, as long as 1.1448/58 holds, downside bias remains for stronger retracement to 1.1368, break, 1.1345.

On the upside, only a daily close above 1.1458 signals pullback is over and may risk re-test of 1.1483.

Data to be released on Wednesday :
Australia consumer sentiment, China CPI, PPI, UK retail sales.
Germany imports, exports, trade balance.
Canada leading index, U.S. mortgage applications, wholesale inventories and wholesale sales.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Feb 2022 03:00GMT

EUR/USD - 1.1420
Although euro's retreat to 1.1397 (Tuesday) signals upmove from Jan's fresh 20-month trough at 1.1122 has made a temporary top at last Friday's 11-week high of 1.1483, yesterday's rebound to 1.1447 in New York would bring consolidation before another fall, below said support would yield stronger retracement to 1.1370/75 but reckon 1.1345 may hold.

On the upside, only a daily close above 1.1468 would risk re-test of 1.1483, break would extend said upmove to 1.1510/14 later.

Data to be released on Thursday:
Japan producer prices, Australia consumer inflation.
UK GDP.
U.S. CPI, core CPI, jobless claims and Federal budget.

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

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

EUR/USD - 1.1402
Despite euro's rally from 1.1375 and brief break of previous Feb's 1.1483 top to a near 3-month peak of 1.1495 in New York, subsequent sharp retreat to 1.1408 on broad-based rebound in usd after Fed Bullard's hawkish comments suggests upmove from Jan's 20-month 1.1122 low has made a top there and below 1.1375 would yield stronger retracement towards 1.1330.

On the upside, only a daily close above 1.1483 risks re-test of 1.1495, break would extend towards 1.1514 before down.

On the data front, Germany will release CPI , HICP n wholesale price index at Euroepan open. ECB member Elderson will appear in panel discussionat a finance Summit at 08:05GMT.

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

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

EUR/USD - 1.1363
Friday's break of 1.1371/75 sup to 1.1331 in New York afternoon due to broad-based safe-haven usd buying due to escalating Ukraine tension suggests corrective rise from January's 1.1122 bottom has formed a top at last Thur's near 3-month peak at 1.1495 and weakness to 1.3300/10 is seen, reckon 1.1266 (61.8% r) would remain intact.

Only a daily close above 1.1375 signals temporary low is made and may risk stronger recovery towards 1.1417 before retreat.

No eco. data is due out from the euro area countries, however, we have release of Buba monthly report n ECB President Lagarde will speak at the 20th anniversary of euro banknotes and coins at the plenary session of the European Parliament at 16:15GMT.

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AceTraderFx Feb 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 15 Feb 2022 03:00GMT

EUR/USD - 1.1314
Euro's break of last Fri's 1.1331 low to a 10-day bottom at 1.1281 in New York Mon on safe-haven usd buying due to continued Ukraine tension together with dovish comments from ECB's Lagarde suggests correction from Jan's 20-month trough at 1.1122 has possibly ended earlier at last Thur's near 3-month 1.1495 peak and downside bias remains for weakness towards 1.1268 but 1.1222 would hold due to loss of downward momentum.

On the upside, only a daily close above 1.1469 (Mon high) may risk stronger retracement to 1.1400/10 before prospect of another fall later this week.

Data to be released on Tuesday:
Japan GDP, industrial output, capacity utilization.
U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, EU employment, trade balance, GDP, ZEW survey expectation, Germany ZEW economic sentiment, ZEW survey expectation.
U.S. NY Fed manufacturing, PPI, redbook and New Zealand GDT price index.

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AceTraderFx Feb 16: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 16 Feb 2022 03:00GMT

EUR/USD - 1.1356
Although euro's erratic decline from last Thur's near 3-month peak at 1.1495 to 1.1281 Mon suggests upmove from Jan's 20-month trough at 1.1122 has made a top there, yesterday's erratic rise to 1.1368 on broad-based retreat in usd due to easing tension in Russia-Ukraine suggests retracement to 1.1388/98 may been seen before prospect of another fall, below 1.1281 would yield weakness towards 1.1268 later this week.

On the upside, only a daily close above 1.1417 signals pullback 1.1495 has ended and risk stronger gain to 1.1446/48.

Data to be released on Wednesday:
Australia Westpac leading index, China PPI, CPI, Japan tertiary industry activity.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, EU industrial production.
U.S. MBA mortgage application, import prices, export prices, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index, Canada CPI, manufacturing sales and wholesale trade.

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AceTraderFx Feb 17: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1381
Although euro's decline from last Thur's near 3-month peak at 1.1495 to 1.1281 Mon suggests upmove from Jan's 20-month trough at 1.1122 has made a top there, subsequent stronger-than-expected rise to 1.1395 on broad-based usd's weakness after less hawkish Fed minutes suggests consolidation is in store before prospect of another fall, below 1.1345 signals recovery over, 1.1310, then later 1.1281.

On the upside, only a daily close above 1.1417 signals pullback from 1.1495 has possibly ended and risks gain to 1.1446/48.

Data to be released on Thursday:
Japan machinery orders, exports, imports, trade balance, Australia employment change, unemployment rate.
Swiss exports, imports, trade balance, Italy trade balance.
U.S. building permits, housing starts, initial jobless claims, continuing jobless claims, and Philly Fed manufacturing index.

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AceTraderFx Feb 18: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1363
Although euro's rebound from Mon's 10-day bottom at 1.1281 suggests decline from Feb's near 3-month 1.1495 peak has ended there and despite yesterday's brief drop to 1.1324 in Asia on broad-based rebound in usd due to renewed escalating Russia-Ukraine tension, subsequent bounce signals consolidation is seen and retracement towards 1.1417 may be seen before another fall, below 1.1324 yields weakness towards 1.1281.

On the upside, only a daily close above 1.1448 would risk gain to 1.1465/75, break, 1.1495 again next Mon.

Data to be released on Friday:
New Zealand PPI inputs, PPI outputs, Japan nationwide CPI, U.K. retail sales, Swiss industrial production, France CPI, EU current account, construction output, consumer confidence, Canada ADP employment change, new housing price index, retail sales, U.S. existing home sales and leading index change.

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

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


EUR/USD - 1.1320
Euro's weakness to 1.1315 (NY) on Friday due to safe-haven usd buying on Russia-Ukraine tension suggests recovery from last week's low at 1.1281 (Mon) over, below 1.1281 would extend early decline from Feb's peak at 1.1495 towards 1.1222 later this week.

On the upside, only abv 1.1360 prolongs choppy sideways swings and may risk another rise to 1.1385/95.

On the data front, Germany will kick off with producer price, then France's Markit mfg n services PMIs, then the same fm Germany n the EU.

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AceTraderFx Feb 22: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 22 Feb 2022 03:00GMT

EUR/USD - 1.1306
Euro's fall from Feb's near 3-month 1.1495 peak to 1.1281 last week (Mon) signals recent strong rise from Jan's 20-month bottom at 1.1122 has made a top and despite rebound to 1.1395 (Wed), yesterday's selloff from 1.1390 in Europe to 1.1307 in late New York on broad-based usd's strength due to renewed escalating Russia-Ukraine tension suggests re-test of 1.1268 is seen, break, 1.1222 later.

On the upside, only a daily close above 1.1345/50 would prolong choppy sideways swings and risk 1.1376 but 1.1390/95 should hold.

Data to be released on Tuesday :
Italy CPI, Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. PSNB, PSNCR, CBI trends orders.U.S. monthly home price, Markit manufacturing PMI, Markit services PMI and consumer confidence on Tuesday.

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