AceTraderFx: Daily Market Outllook on Major -EUR/USD

acetraderfx

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

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DAILY MARKET OUTLOOK on Major

Update Time: 25 May 2022 03:00GMT

EUR/USD - 1.0728
Although euro's rally above 1.0697 (Mon) to a 1-month peak at 1.0748 in New York after hawkish comments from ECB's Lagarde suggests upmove from May's 5-year bottom at 1.0350 would extend marginally, reckon 1.0770/75 would remain intact and yield prospect of another fall due to loss of momentum.

On the downside, daily close below 1.0697 would indicate a temporary top is in place and yield weakness towards 1.0662, break, 1.0608/10 later.

Data to be released on Wednesday:
Australia construction work done, New Zealand RBNZ interest rate decision, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer confidence, France consumer confidence, Swiss investor sentiment, U.S. mortgage application, durable goods, durables ex-transport and durables ex-defense.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 26 May 2022 03:00GMT

EUR/USD - 1.0700
Euro's strong retreat from Tue's 1-month peak at 1.0748 to as low as 1.0643 at New York open yesterday on rebound in usd suggests upmove from May's 5-year bottom at 1.0350 has made a temporary top there and weakness to 1.0620/25 is envisaged after consolidation, break would extend towards 1.0588 later next week.

On the upside, only a daily close above 1.0723 would risk stronger gain towards 1.0748, break, 1.0771.

Data to be released on Thursday:
Australia capital expenditure, building carpex.
Germany Market Holiday, France Market Holiday, Swiss Market Holiday, Italy business confidence, consumer confidence, industrial sales.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing, Canada retail sales and average weekly earnings.


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

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DAILY MARKET OUTLOOK on Major


Update Time: 27 May 2022 03:00GMT

EUR/USD - 1.0737
Euro's strong rebound from 1.0663 to 1.0731 in New York on broad-based usd's weakness due to rally in U.S. stocks suggests pullback form Tue's 1-month 1.0748 peak has possibly ended and above would extend upmove from May's 5-year bottom at 1.0350 to 1.0780/90, however, loss of momentum should cap price below 1.0807 and yield decline later.

On the downside, only a daily close below 1.0690/95 would indicate a temporary top possibly made and yield weakness towards 1.0663, then 1.0643 Mon.

Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales, Italy trade balance.
U.S. personal income, personal spending, PCE price index, goods trade balance, wholesale inventories, University of Michigan sentiment and Canada budget balance.

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AceTraderFx May 30: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major

Update Time: 30 May 2022 03:00GMT

EUR/USD - 1.0734
Although euro's retreat from Fri's 1-month peak at 1.0764 signals corrective upmove from May's 5-year bottom at 1.0350 has ended, subsequent strong bounce to 1.0750 in New York on risk sentiment suggests choppy swings would be seen and above 1.0764 would extend to 1.0787/92 before decline due to loss of momentum.

On the downside, a daily close below 1.0698 would revive bearishness for weakness towards 1.0643, break, 1.0608 later.

Data to be released later today :
Germany import prices, Swiss non-farm payrolls, KOF indicator, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada current account.
U.S. Market Holiday on Monday.


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

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DAILY MARKET OUTLOOK on Major

Update Time: 31 May 2022 03:00GMT

EUR/USD - 1.0747
Euro's intra-day strong retreat in Asia on broad-based rebound in usd suggests recent corrective upmove from May's 5-year bottom at 1.0350 has possibly made a temporary top at yesterday's fresh 1-month peak at 1.0786 and further weakness to 1.0727/31 would be seen, below would head towards 1.0698, 1.0663 later.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk one more rise towards 1.0807.

Data to be released on Tuesday :
New Zealand building permits, NBNA business outlook, NBNA own activity, Japan unemployment rate , industrial production, retail sales, consumer confidence, construction orders, Australia building permits, business inventories, current account, net exports contribution, China NBS manufacturing PMI, NBS non-manufacturing PMI.
U.K. nationwide house price, Swiss exports, imports, trade balance, retail sales, GDP, France consumer spending, GDP, CPI, producer prices, Germany unemployment rate, unemployment change, Italy GDP, CPI, EU HICP, Canada GDP.
U.S. monthly home price, Chicago PMI, consumer confidence and Dallas Fed manufacturing business index.
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AceTraderFx Jun 01: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major

Update Time: 01 Jun 2022 03:00GMT

EUR/USD - 1.2611
Although euro's selloff from Mon's fresh 1-month peak at 1.0786 to as low as 1.0680 in New York Tue on broad-based usd's rebound in tandem with U.S. yields suggests correction from May's 5-year bottom at 1.0350 has made a temporary top there, subsequent strong rebound on retreat in usd would yield consolidation before prospect of another fall, below 1.0680 would bring stronger retracement towards 1.0643.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk stronger gain towards 1.0807

Data to be released on Wednesday:
Australia AIG manufacturing index, manufacturing PMI, GDP.
U.K. BRC shop price index, S&P Global manufacturing PMI, Japan business capex, Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, S&P Global manufacturing PMI, France budget balance, S&P Global manufacturing PMI, Swiss manufacturing PMI, Italy S&P Global manufacturing PMI, unemployment rate, EU S&P Global manufacturing PMI, unemployment rate.
U.S. mortgage application, ADP employment change, redbook, S&P Global manufacturing PMI, construction spending, ISM manufacturing PMI, JOLTS job openings, Canada BOC rate decision and S&P Global manufacturing PMI.

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AceTraderFx Jun 02: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major

Update Time: 02 Jun 2022 03:00GMT

EUR/USD - 1.0646
Euro's selloff from Monday's 1-month 1.0786 high to 1.0680 Tuesday and yesterday's break there to as low as 1.0628 in New York on rally in usd in tandem with US yields suggests correction from May's 5-year trough of 1.0350 has made a temporary top there and further weakness towards 1.0608 would be seen but oversold condition should keep price above 1.0568 and yield rebound.

On the upside, only a daily close above 1.0680 would indicate pullback over and risk stronger gain towards 1.0706 before down.

Data to be released on Thursday:
New Zealand import prices, export prices, Australia trade balance, imports, exports.
Swiss CPI, U.K. Market Holiday, Italy Market Holiday, EU producer prices.
Canada building permits, U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durables goods, durable ex-transport and factory orders.
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AceTraderFx Jun 06: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major

Update Time: 06 Jun 2022 03:00GMT

EUR/USD - 1.0722
Euro's selloff from last Monday's 1-month peak at 1.0786 to 1.0628 Wed suggests corrective upmove from May's 20-year bottom at 1.0350 has made a top and despite Fri's strong rebound to 1.0764, subsequent retreat to 1.0705 in post-NFP New York on broad-based usd's strength would head back to 1.0660/65, break would yield re-test of 1.0628.

On the upside, only a daily close above 1.0764 aborts bearishness on euro and risks stronger gain towards 1.0786.

Data to be released today :
New Zealand Market Holiday, China Caixin services PMI.
France Market Holiday, Germany Market Holiday and Swiss Market Holiday on Monday.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 07 Jun 2022 03:00GMT

EUR/USD - 1.0689
Euro's selloff from last Mon's 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite subsequent strong rebound to 1.0764 Fri, yesterday's retreat from 1.0751 to 1.0685 in New York on broad-based usd's strength due to rally in US yields has retained bearishness for 1.0660, 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Tuesday:
Australia AIG services index, RBA interest rate decision, Japan coincident index, leading indicator, all household spending.
U.K. BRC retail sales, S&P Global services PMI, Germany industrial orders, EU sentix index.
U.S. trade balance, redbook, Canada trade balance, imports, exports, Ivey PMI and New Zealand GDT price.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 08 Jun 2022 03:00GMT

EUR/USD - 1.0696
Euro's selloff from last Mon's 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite strong rebound to 1.0764 Fri, subsequent retreat to 1.0653 in New York Tue and then rebound would yield range trading before prospect of another fall, below 1.0653 would yield 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Wednesday:
Japan current account, trade balance, GDP, eco watchers current, eco watchers outlook.
Swiss unemployment rate, U.K. Halifax house prices, S&P construction PMI, Germany industrial output, France trade balance, imports, exports, Italy retail sales, EU employment, GDU.
U.S. MBA mortgage application, wholesale inventories and wholesale sales.

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