AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

EUR/USD - 1.0907
Euro's resumption of decline from last Thursday's 4-week peak at 1.1184 to as low as 1.0874 yesterday suggests correction from March's 22-month bottom at 1.0807 has possibly ended there and as 1.0937 has capped subsequent recovery in New York, consolidation with downside bias remains for re-test of said support, below would extend towards 1.0846 but 1.0807 should remain intact.

On the upside, only a daily close above 1.0940/45 may risk stronger retracement of said fall towards 1.0988.

Data to be released on Thursday:
Australia AIG services index, exports, imports, trade balance, Japan leading indicator, coincident index, machine tool orders.
Swiss unemployment rate, Germany industrial output, U.K. Halifax house price, EU retail sales.
U.S. continuing jobless claims and initial jobless claims.

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

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

EUR/USD - 1.0862
Euro's selloff from last Thursday's high at 1.1184 to 1.0866 in New York yesterday on continued usd's strength, then present break there in Asia suggests correction from March's 22-month bottom at 1.0807 has ended and bearishness remains for re-test of said support, break needed to extend decline to 1.0755/60.

On the upside, only a daily close above 1.0938 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.

Data to be released on Friday:
Japan current account, trade balance, consumer confidence, Eco watchers current, Eco watchers outlook.
Italy retail sales.
Canada unemployment rate, employment change, U.S. wholesale sales and wholesale inventories.

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

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

EUR/USD - 1.0887
Euro's selloff from 1.1184 (Thursday) to a 1-month bottom at 1.0837 on continued usd's strength due to rally in U.S. yields suggests early correction from March's 22-month bottom at 1.0807 has ended and as 1.0934 has capped rebound in New Zealand today, consolidation with downside bias remains for re-test of 1.0837, break would extend said decline towards 1.0807 again.

On the upside, only a daily close above 1.0938 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.

Data to be released today:
New Zealand retail sales, China CPI, PPI.
U.K. construction output, manufacturing output, industrial output, GDP, trade balance.
Canada leading index on Monday.


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

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

EUR/USD - 1.0881
Euro's selloff from 1.1184 (Thursday) to a 1-month bottom at 1.0837 on continued usd's strength due to rally in U.S. yields suggests early correction from March's 22-month bottom at 1.0807 has ended and as price has fallen again after yesterday's gap-up open to 1.0934 in New Zealand, consolidation with downside bias remains for re-test of 1.0837, break, 1.0807 later.

On the upside, only a daily close above 1.0934/38 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.

Data to be released on Tuesday:
Japan producer prices, Australia NAB business confidence, NAB business conditions.
U.K. BRC retail sales, average weekly earnings, employment change, ILO unemployment rate, claimant count,
Germany HICP, CPI, ZEW current conditions, ZEW economic sentiment, France exports, imports, trade balance, current account, EU ZEW survey expectation.
U.S. CPI, redbook and Federal budget.

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

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

EUR/USD - 1.0823
Euro's selloff from 1.1184 (Thur) to 1.0837 on Mon and yesterday's break there to a fresh 1-month bottom at 1.0822 in New York on continued usd's strength due to rally in U.S. yields suggests early correction from Mar's 22-month bottom at 1.0807 has ended and downside bias remains for re-test of 1.0807, break would recent downtrend to 1.0760.later.

On the upside, only a daily close above 1.0903 signals a temporary bottom is in place and risks stronger retracement towards 1.0933/38, break, 1.0961.

Data to be released on Wednesday:
New Zealand food price index, RBNZ interest rate decision, Japan machinery orders, Australia consumer sentiment, China trade balance, imports, exports.
U.K. PPI output prices, PPI input prices, RPI, CPI, DCLG house price, Italy industrial output.
U.S. MBA mortgage application, PPI and Canada interest decision.

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

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

EUR/USD - 1.0889
Despite euro's selloff below 1.0822 (Tuesday) to a fresh 1-month bottom at 1.0809 in New York morning, subsequent rally to 1.0894 on broad-based usd's retreat due to fall in U.S. yields suggests stronger retracement to 1.0933/38 would be seen before prospect of another decline, below below 1.0807, 1.0760.

On the upside, a daily close above 1.0988 would signal a temporary bottom is in place and risk stronger gain to 1.1020/30.

Data to be released on Thursday :
New Zealand manufacturing PMI, Australia unemployment rate, employment change, Japan industrial production.
U.K. RICS housing price balance, Germany wholesale price index, Swiss producer/import price, EU ECB deposit rate, ECB refinancing rate.
U.S. retail sales, continuing jobless claims, initial jobless claims, imports prices, export prices, University of Michigan sentiment, business inventories, Canada wholesale trade and manufacturing sales.

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AceTraderFx Apr 19: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.0774
Euro's selloff from last Thursday's peak at 1.0923 to a near 2-year bottom at 1.0758 in post-ECB suggests medium term downtrend remains in force and as 1.0830 has capped subsequent recovery, yesterday's retreat to 1.0771 on broad-based usd's strength due to rally in U.S. yields suggests consolidation with downside bias remains, below 1.0758 would yield 1.0730/35.

On the upside, only a daily close above 1.0834 signals a temporary trough is in place and risks stronger gain to 1.0860/70.

Data to be released on Tuesday :
New Zealand business NZ PSI, GDT price index, Japan industrial production, capacity utilization.
Canada housing starts, U.S. housing starts, building permits and redbook.


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AceTraderFx Apr 20: Recommendations on Major -EUR/USD

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

EUR/USD - 1.0789
Euro's break of 1.0771 (Mon) to 1.0762 in Asia Tuesday suggests recovery from last Thursday's near 2-year bottom at 1.0758 has ended at 1.0830 the same day and as 1.0814 has capped subsequent rebound in Europe yesterday, bearishness remains for re-test of 1.0758, below would pressure price to 1.0720/22.

On the upside, only a daily close above 1.0813/14 would indicate a temporary trough is in place and risk stronger retracement towards 1.0834, 1.0855/60.

Data to be released on Wednesday:
Japan exports, imports, trade balance, tertiary industry activity, Australia Westpac leading index.
Germany producer prices, Italy trade balance, EU industrial production, trade balance.
U.S. MBA mortgage application, existing home sales, Canada new housing price index and CPI.

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

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

EUR/USD - 1.0842
Euro's rally above 1.0834/37 resistance to 1.0867 in Europe on broad-based retreat in usd due to fall in U.S. yields suggests recent erratic decline has made a temporary bottom at last Thursday's near 2-year bottom at 1.0758 and stronger retracement towards 1.0890/94 is likely before another fall, below 1.0807 would head back to 1.0783, then 1.0758/62 later.

On the upside, only a daily close above 1.0923 would risk stronger gain to 1.0938/45, break, 1.0965/70.

Data to be released on Thursday:
New Zealand CPI.
France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and EU consumer confidence.

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

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

EUR/USD - 1.0839
Despite euro's rally above 1.0867 (Wednesday) to a 2-week high of 1.0936 in Europe yesterday on hawkish comments from ECB's de Guindos, subsequent selloff to 1.0830 in New York on renewed usd's strength due to hawkish comments from Fed's Powell suggests correction from last Thursday's near 2-year 1.0758 bottom has ended and weakness towards 1.0805/10 is seen.

On the upside, only a daily close above 1.0893 indicates aforesaid pullback over and risks stronger gain to 1.0920/30.

Data to be released on Friday:
Australia manufacturing PMI, services PMI, Japan nationwide CPI Jibun bank manufacturing PMI, services PMI.
U.K. Gfk consumer confidence, retail sales, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI, EU current account.
Canada producer prices, retail sales, U.S. Markit manufacturing PMI and Markit services PMI.

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AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update