AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

EUR/USD - 1.0902
Although euro's short-covering rally from Mon's fresh 22-month bottom at 1.0807 to 1.0932 , then to 1.0958 in New York yesterday signals recent erratic decline has made a temporary trough there, subsequent retreat suggests said correction has possibly ended and consolidation with downside bias remains, below 1.0846 would yield further weakness towards 1.0807.

On the upside, only a daily close above 1.0958 would risk stronger gain to 1.0972/77 before prospect of another fall.

Data to be released on Wednesday:
New Zealand manufacturing sales, Japan GDP, China PPI, CPI.
U.K. BRC retail sales, France non-farm payrolls, Ital industrial output.
U.S. MBA mortgage application and JOLTS jobs opening.

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

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

EUR/USD - 1.1051
Euro's impressive rally above 1.0958 (Tue) to as high as 1.1094 in New York Wednesday on active unwinding of recent euro short positions due to easing of Russia-Ukraine tension suggests recent erratic decline has made a low at Monday's fresh 22-month 1.0807 bottom and stronger retracement to 1.1140/45 may be seen before prospect of retreat.

On the downside, a daily close below 1.1000 psychological handle signals a temporary top is made and risks 1.0958 later.

Data to be released on Thursday:
New Zealand retail sales, Japan producer prices, Australia consumer inflation.
U.K. RIVS housing price balance, trade balance, construction output, Italy producer prices, EU ECB Refinancing rate, ECB deposit rate.
U.S. CPI, initial jobless claims, continuing jobless claims and Federal budget.

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

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

EUR/USD - 1.1011
Although euro's rally to a 1-week high at 1.1120 yesterday after ECB's hawkish tilt signals erratic decline from February's 1.1495 top has made a temporary bottom at Monday's fresh 22-month low at 1.0807, subsequent sharp retreat suggests said correction has possibly ended and consolidation with downside bias remains, below 1.0927 would yield further weakness to 1.0891/95.

On the upside, only a daily close above 1.1043/48 may risk stronger gain to 1.1065/70 before another fall.

Data to be released on Friday:
New Zealand business NZ PSI, manufacturing PMI, food price index, Japan all household spending.
U.K. GDP, industrial output, manufacturing output, Germany CPI, HICP, Italy unemployment, U.K. consumer inflation expectation, NISER GDP estimation.
Canada capacity utilization, employment change, unemployment rate and U.S. University of Michigan sentiment.

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

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

EUR/USD - 1.0915
Euro's intra-day selloff from 1.1043 to 1.0903 in New York on Fri suggests correction from last Monday's 22-month bottom at 1.0807 has ended earlier at 1.1120 (Thursday) and consolidation with downside bias remains for further weakness towards 1.0846.

Only a daily close above 1.1000 'prolongs' choppy sideways swings and may risk stronger gain towards 1.1043.

Data to be released today:
U.K. Rightmove house price, France exports, imports, trade balance, current account and Italy trade balance on Monday.

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

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

EUR/USD - 1.0955
Euro's selloff from last Thursday's 1-week 1.1120 peak to 1.0902 in Asia Mon on broad-based rebound in usd suggests correction from last Monday's fresh 22-month bottom at 1.0807 has possibly ended and as 1.0993 has capped recovery in New York Monday, consolidation with downside bias remains, below 1.0846/50 would yield re-test of said support.

On the upside, only a daily close above 1.0993 would risk stronger gain to 1.1010/15.

Data to be released on Tuesday:
New Zealand business NZ PSI, Australia house price index, China retail sales, industrial output.
Germany wholesale price index, ZEW current conditions, ZEW economic sentiment, U.K. average weekly earnings, employment change, ILO unemployment rate, claimant count, Swiss producer/import price, housing starts, France CPI, EU ZEW survey expectation, industrial production.
U.S. PPI, redbook, NY Fed manufacturing and Canada manufacturing sales.

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

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

EUR/USD - 1.0968
Euro's selloff from last Thursday's 1.1120 top to 1.0902 (Monday) signals early correction from March's fresh 22-month bottom at 1.0807 has possibly ended there and despite yesterday's rebound to 1.1019 in Europe, subsequent selloff to 1.0927 in New York on renewed usd's strength suggests consolidation with downside bias remains, reckon 1.0880/85 would remain intact.

On the upside, only a daily close above 1.0993 may risk gain towards 1.1019, break, 1.1043.

Data to be released on Wednesday:
New Zealand current account, Japan trade balance, imports, exports, industrial production, Australia Westpac leading index, China house prices.
Italy CPI.
U.S. MBA mortgage application, retail sales, imports prices, export prices, NAHB housing market index, business inventories, Fed interest rate decision, Canada wholesale trade and CPI.

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

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

EUR/USD - 1.1047
Although euro's erratic rise from Monday's 1.0902 low to as high as 1.1047 in post-FOMC trading Wednesday and intra-day break there in Australia suggests further choppy trading above March's fresh 22-month trough at 1.0807 would continue, however, reckon 1.1060/65 would hold and yield another fall, below 1.1015/20, 1.0951 (New York), break, 1.0927.

On the upside, only a daily close above 1.1094 would risk re-test of 1.1120, break, 1.1146 later.

Data to be released on Thursday:
Japan machinery orders, Australia employment change, unemployment rate.
Swiss exports, imports, trade balance, EU HICP, U.K. BoE interest rate decision, asset purchase program, BoE QE total, BoE QE Corp bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. Philly Fed manufacturing index, initial jobless claims, continuing jobless claims, housing starts, building permits, industrial production, capacity utilization and manufacturing output.

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

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

EUR/USD - 1.1086
Euro's strong rebound from last Monday's fresh 22-month bottom at 1.0807 signals erratic decline from 1.1495 (February) has made a low there and yesterday's break of last Thursday's 1.1120 top to a 12-day peak at 1.1137 in New York on broad-based usd's weakness signals gain to 1.1145/55 is envisaged but 1.1187 should hold.

On the downside, only a daily close below Wednesday's 1.1009 trough signals temporary top is made and would risk weakness to 1.0951/55 on next Monday.

Data to be released on Friday:
New Zealand GDP, Japan nationwide CPI, BOJ interest rate decision, tertiary industry activity.
Italy trade balance, EU labour costs, trade balance, Canada retail sales, new housing price index, U.S. leading index change and existing home sales.

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

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

EUR/USD - 1.1047
Euro's strong retreat from last Friday's 12-day high at 1.1137 to as low as 1.1004 in New York signals corrective upmove from March's fresh 22-month bottom at 1.0807 has possibly made a temporary top there and consolidation with downside bias remains, below 1.1004 would yield further weakness towards 1.0972 but 1.0951 should remain intact.

On the upside, only a daily close above 1.1094 would dampen bearishness and risk stronger gain to 1.1118/20, break, 1.1137 again.

Data to be released next week :
New Zealand exports, trade balance, imports, Japan Market Holiday.
U.K. Rightmove house price, Germany producer prices.
U.S. national activity on Monday.

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

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

EUR/USD - 1.1010
Euro's strong retreat from last Thursday's 12-day high of 1.1137 to 1.1004 Friday suggests corrective upmove from March's fresh 22-month bottom at 1.0807 has made a temporary top there and yesterday's retreat from 1.1069 to 1.1011 near New York close on renewed usd's strength has retained bearishness, below 1.1004 would pressure price towards 1.0972 but 1.0951 may hold.

On the upside, only a daily close above 1.1071 would risk stronger gain towards 1.1094, break, 1.1118 later.

Data to be released on Tuesday:
Australia Westpac consumer survey, EU current account, construction output.
U.K. PSNCR, PSNB.
Canada producer prices, U.S. redbook and Richmond Fed manufacturing.

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