AceTraderFx: Daily Market Outllook on Major -EUR/USD

acetraderfx

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

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DAILY MARKET OUTLOOK on Major

Update Time: 09 Jun 2022 03:00GMT

EUR/USD - 1.07416
Euro's selloff from last Monday's 1-month peak at 1.0786 to as low as 1.0628 (Wednesday) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite strong rebound from 1.0653 (Tuesday) to 1.0748 in New York yesterday, subsequent retreat on usd's rebound signals downside bias remains and below 1.0653 would head towards 1.0628.

On the upside, only a daily close above 1.0764 would risk stronger gain towards 1.0786 but 1.0807 should hold initially.

Data to be released on Thursday:
China exports, imports, trade balance, Japan machine tool orders.
U.K. RICS housing price balance, France non-farm payrolls, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claim and continuing jobless claims.

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acetraderfx

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

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DAILY MARKET OUTLOOK on Major

Update Time: 10 Jun 2022 03:00GMT

EUR/USD - 1.0614
Despite euro's rally above 1.0764 (Fri) to 1.0773 on ECB's hawkish hold, subsequent selloff after ECB Lagarde's presser and then break of previous support at 1.0628 suggests fall from May's 1-month 1.0786 peak to correct rise from 1.0350 (May low) would head towards 1.0578.

On the upside, only above 1.0653 would signal temporary low made and risk stronger gain to 1.0670/80 before down.

Data to be released on Friday:
New Zealand retail sales, manufacturing sales, Japan producer prices, China PPI, CPI.
Italy industrial sales, U.K. consumer inflation.
U.S. CPI, University of Michigan sentiment, Federal budget, Canada capacity, employment change and unemployment rate.

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acetraderfx

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

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DAILY MARKET OUTLOOK on Major

Update Time: 13 Jun 2022 03:00GMT

EUR/USD - 1.0490
Euro's selloff from 1.0773 in post-ECB below previous week's 1.0628 low to 1.0612 Thursday, then further weakness to as low as 1.0507 Friday due to broad-based rally in usd and intra-day break there in New Zealand suggests correction from May's 5-year bottom at 1.0350 has ended and further weakness towards 1.0461 would be seen but 1.0430/35 should hold.

On the upside, only a daily close above 1.0570/75 may risk stronger retracement towards 1.0612.

Data to be released today:
Australia Market Holiday.
UK GDP, trade balance, construction, manufacturing output, industrial output, NISER GDP.
Canada leading index on Monday.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 14 Jun 2022 03:00GMT

EUR/USD - 1.0411
Euro's selloff from Thursay's post-ECB 1.0773 high to 1.0507 last Friday and yesterday's break there to a near 1-month bottom at 1.0400 due to safe-haven usd's buying on global stock market rout and rally in US yields suggests re-test of May's 5-year trough at 1.0350 would be seen, break, 1.0310/20 later.

On the upside, only a daily close above 1.0507 would indicate a temporary low is in place and risk stronger retracement towards 1.0535.

Data to be released on Tuesday:
New Zealand food price index, Australia house price index, NAB business conditions, NAB business confidence, Japan industrial production, capacity utilization/
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany CPI, ZEW economic sentiment, ZEW economic conditions, EU ZEW survey expectations.
Canada manufacturing sales, U.S. PPI and redbook.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 15 Jun 2022 03:00GMT

EUR/USD - 1.0428
Although euro's selloff from Thur's post-ECB 1.0773 high to a near 1-month bottom at 1.0398 in Asia Tue due to active safe-haven usd's buying on global stock market rout and rally in US yields suggests re-test of May's 5-year trough at 1.0350 would be seen, subsequent rebound would yield range trading and below would extend towards 1.0320.

On the upside, only a daily close above 1.0507 would indicate a temporary trough is in place and risk stronger retracement towards 1.0535, then 1.0550.

Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, tertiary industry activities, Australia consumer sentiment, China industrial output, retail sales.
Germany wholesale price index, Swiss producer/import price, France CPI, EU trade balance, industrial production.
U.S. MBA mortgage application, NY Fed manufacturing, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed interest rate decision and Canada housing starts.

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acetraderfx

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

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DAILY MARKET OUTLOOK on Major

Update Time: 16 Jun 2022 03:00GMT

EUR/USD - 1.0463
Despite euro's selloff from 1.0507 (Europe) and then break of 1.0398 (Tuesday) to a 1-month bottom at 1.0360 in post-FOMC New York on the 75 bps rate hike from the Federal Reserve, subsequent strong rebound on profiting-taking in usd suggests choppy consolidation would be seen, reckon 1.0507 would cap upside and yield decline.

On the downside, a daily close below 1.0360 would yield re-test of May's 5-year trough at 1.0350, break, 1.0320.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, Australia consumer inflation expectation, employment change, unemployment rate, China house price.
Swiss SNB interest rate decision, Italy CPI, EU labor costs, UK BOE interest rate decision, asset purchase program, BOE QE total, BoE QE Corp Bond Purchases, BOE MPC vote hike, BOE MOC vote unchanged, BOE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and Canada wholesale sales.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 17 Jun 2022 03:00GMT

EUR/USD - 1.0540
Despite euro's resumption of decline from May's 1.0786 peak to a 1-month bottom of 1.0360 in post-FOMC Wednesday, subsequent rebound and then yesterday's rally above 1.0507 (now support) to 1.0601 on broad-based usd's selloff signals choppy swings above May's 5-year 1.0350 trough would continue but 1.0642 should cap upside and yield retreat.

On the downside, only a daily close below 1.0507 would indicate aforesaid recovery over and risk weakness towards 1.0452.

Data to be released on Friday:
New Zealand manufacturing PMI, Japan interest rate decision.
Italy trade balance, EU HICP.
Canada producer prices, U.S. industrial production, capacity utilization, manufacturing output and leading index.

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AceTraderFx Jun 20: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major

Update Time: 20 Jun 2022 03:00GMT

EUR/USD - 1.0493
Euro's strong retreat from 1.3601 to as low as 1.3445 in New York morning Fri on renewed usd's strength signals recovery from last Wed's 1-month bottom at 1.0360 has possibly ended there and subsequent rebound would yield range trading, below 1.0445 would bring further weakness to 1.0400/10 but break needed for re-test of 1.0360.

On the upside, only a daily close above 1.0535 would indicate aforesaid pullback over and risk stronger gain towards 1.0560, 1.0601.

Data to be released today:
New Zealand business NZ PSI
Germany producer prices, EU construction output.
U.S. Market Holiday on Monday.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 21 Jun 2022 03:00GMT

EUR/USD - 1.0514
Although euro's strong rise to as high as 1.0601 last Thur suggests decline from 1.0786 (May) has made a temporary low at 1.3060 in post-FOMC Wed and choppy trading above May's 5-year bottom at 1.0350 would continue, Fri's selloff to 1.0445, then yesterday's retreat from 1.0545 in Europe signals consolidation with downside bias remains for 1.0400/10 later.

On the upside, only a daily close above 1.0560 may risk gain towards 1.0601, break would yield stronger retracement towards 1.0642 later.

Data to be released on Tuesday :
New Zealand Westpac consumer survey, GDT price index.
U.K. Rightmove house price, CBI trends orders, Swiss exports, imports, trade balance, EU current account.
Canada new housing price index, retail sales, U.S. national activity index and existing home sales.

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

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DAILY MARKET OUTLOOK on Major

Update Time: 22 Jun 2022 03:00GMT

EUR/USD - 1.0521
Although euro's strong rise to as high as 1.0601 last Thursday suggests decline from 1.0786 (May) has made a temporary low at 1.3060 in post-FOMC Wednesday and choppy trading above May's 5-year bottom at 1.0350 would continue, Frdayi's selloff to 1.0445, then yesterday's retreat from 1.0582 in Europe signals consolidation with downside bias remains and below 1.0499 would head to 1.0445/55.

On the upside, only a daily close above 1.0582 may risk gain towards 1.0601, break would yield stronger retracement towards 1.0642 later.

Data to be released on Wednesday:
New Zealand Westpac consumer survey, imports, exports, trade balance, Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.


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