AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

EUR/USD - 1.0212
Despite euro's jump n then a marginal break of Wednesday's 1.0173 top to a 2-week peak at 1.0278 on ECB's 0.5% rate hike, subsequent brief but sharp drop to 1.0155 and then rebound on usd's weakness due to selloff in U.S. yields in late New York would yield further choppy swings and above 1.0237/40 would re-test 1.0278, break, 1.0315/20.

On the downside, a daily close below 1.0155 needed to revive bearishness for weakness towards 1.0121, then 1.0082.

Data to be released on Friday:
Australia S n P manufacturing PMI, S n P global services PMI.
U.K. Gfk consumer confidence, retail sales, Japan nationwide CPI, Jibun bank manufacturing PMI, Jibun bank services PMI, France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, U.K. S n P manufacturing PMI, S n P global services PMI.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 July 2022 03:00GMT

EUR/USD - 1.0195
Despite euro's strong retreat from Thursday's 2-week top at 1.0278 to 1.0131 (Europe) on Friday, subsequent rally back to 1.0255 in New York afternoon on broad-based usd's weakness suggests pullback over and rise from July's 20-year trough at 0.9953 may head towards projected target at 1.0316 before decline due to loss of momentum.

On the downside, only a daily close below 1.0180/90 would risk re-test of 1.0131/36, break would head to 1.0080/85.

Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders, CBI business optimism.
U.S. national activity and Dallas Fed manufacturing business index on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 26 July 2022 03:00GMT

EUR/USD - 1.0212
Although euro's rebound from 1.0131 (Friday) to 1.0257 in New York yesterday suggests pullback from Thursday's 2-week peak at 1.0278 over, subsequent retreat on negative Nord Stream news would bring further sideways swings before up and above 1.0278 would extend rise from 0.9953 to 1.0300/10.

On the downside, only a daily close below below 1.0155 would risk weakness towards 1.0131, break would head to 1.0082.

Data to be released on Tuesday:
U.K. CBI distributive trades.
U.S. building permits, redbook, monthly home price, consumer confidence, new homes sales and Richmond Fed manufacturing.

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

DAILY MARKET OUTLOOK on Major
Update Time: 27 July 2022 03:00GMT

EUR/USD - 1.0137
Euro's selloff on Tuesday from 1.0250 and then break of Friday's 1.0131 low to as low as 1.0108 in New York on broad-based rebound in usd signals 1st leg of correction from mid-July's 20-year bottom at 0.9953 has ended at 1.0278 (Thursday) and weakness to 1.0077
is seen, reckon 1.0048/50 would remain intact.

On the upside, only a daily close above 1.0180 would prolong choppy sideways swings and risk stronger gain towards 1.0204, then 1.0250/57.

Data to be released on Wednesday:
Australia CPI, Japan coincident index, leading indicator
U.K. BRC shop price index, Germany Gfk consumer sentiment, France consumer confidence, Italy business confidence, consume confidence, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense, goods trade balance, wholesale inventories, pending home sales and Fed interest rate decision.

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AceTraderFx July 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 28 July 2022 03:00GMT

EUR/USD - 1.0181
Despite euro's erratic fall from last Thurday's 2-week high of 1.0278 to retrace rise from July's 20-year bottom at 0.9953 to 1.0097 in post-FOMC, subsequent rally on broad-based usd's weakness due to less hawkish comments by Fed's Powell suggests pullback possibly over, above 1.0257 would yield stronger gain to 1.0295/00.

On the downside, only below 1.0150/55 would risk another fall towards 1.0097.

Data to be released on Thursday:
Australia retail sales, export prices, import prices.
France producer prices, Italy industrial sales, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer sentiment, Germany CPI.
US GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

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AceTraderFx July 29: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 29 July 2022 03:00GMT

EUR/USD - 1.0199
Euro's rally in post-FOMC New York at 1.0097 to 1.0220 Wednesday, then to 1.0234 in Europe yesterday suggests pullback from last Thursday's 2-week peak at 1.0278 has possibly ended, despite a sharp fall to 1.0115 at New York open, subsequent rise to 1.0199 may head to 1.0250/57 before another decline.

On the downside, only a daily close below 1.0115 would risk weakness towards 1.0097, break would extend to 1.0082.

Data to be released on Friday:
Japan Tokyo CPI, unemployment rate, industrial output, retail sales, consumer confidence, construction orders, housing starts, Australia PPI.
France consumer spending, GDP, Germany GDP, import prices, unemployment change, unemployment rate, UK nationwide house price, Swiss retail sales, KOF indicator, France CPI, Italy GDP, CPI, EU HICP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.

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AceTraderFx Aug 01: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 01 Aug 2022 03:00GMT

EUR/USD - 1.0218
Although euro's erratic rise from last week's 1.0097 low (Wednesday) to as high as 1.0254 in Europe Friday suggests correction from 1.0278 has ended, subsequent strong retreat to 1.0147 in New York n then intra-day rebound on renewed usd's weakness indicates upside bias remains, above 1.0254/57 would head towards 1.0278, break extends rise from July's 20-year 0.9953 trough towards 1.0298.

On the downside, only a daily close below 1.0170/74 would risk weakness towards 1.0147, then 1.0097.

Data to be released today :
Australia AIG manufacturing index, S&P manufacturing PMI, New Zealand building permits, Japan Jibun Bank manufacturing PMI, China Caixin manufacturing PMI.
Germany retail sales, S&P manufacturing PMI, Swiss Market Holiday, France S&P manufacturing PMI, EU S&P manufacturing PMI, unemployment rate, Italy S&P manufacturing PMI, unemployment rate.
U.K. S&P manufacturing PMI, U.S. S&P manufacturing PMI, construction spending, ISM manufacturing PMI and Canada market holiday on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 02 Aug 2022 03:00GMT

EUR/USD - 1.0268
Although euro's erratic rise from last week's low at 1.0097 (Wed) to a 1-week high of 1.0275 in New York yesterday suggests correction from 1.0278 has ended, subsequent retreat may yield further choppy swings and below 1.0226 (New York low) would head towards 1.0206, break, 1.0165/70.

On the upside, a daily close above 1.0278 is needed to extend rise from 0.9953 (July) to 1.0320/25 later.

Data to be released on Tuesday:
Australia building permits, RBA interest rate decision, New Zealand GDT price.
U.K. Nationwide house price, Swiss consumer confidence, manufacturing PMI.
U.S. redbook, JOLTS job openings, Canada S&P manufacturing PMI.

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AceTraderFx Aug 03: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.0157
Despite euro's brief rise above previous 1.0278 resistance to a near 4-week high of 1.0293 (Asia) Tuesday, intra-day selloff on safe-haven usd's bid due to US/China tension, then weakness to 1.0164 on hawkish Fed speak suggests rise from 0.9953 (July) has made a top but below 1.0082/97 support is needed for weakness towards 1.0050.

On the upside, only a daily close above 1.0216 would risk stronger gain towards 1.0254 but 1.0293 should remain intact.

Data to be released on Wednesday:
Australia AIG construction index, S&P Global services PMI, retail sales, New Zealand employment change, unemployment rate, labor costs index, Japan Jibun bank services PMI, China Caixin services PMI.
Germany exports, imports, trade balance, current account, S&P Global services PMI, Swiss CPI, France budget balance, S&P Global services PMI, Italy S&P Global services PMI, retail sales, EU S&P Global services PMI, producer prices, retail sales, UK S&P Global services PMI.
U.S. MBA mortgage application, S&P Global services PMI, durable goods, durable ex-defense, durable ex-transport, factory orders and ISM non-manufacturing PMI.

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AceTraderFx Aug 04: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 04 Aug 2022 03:00GMT

EUR/USD - 1.0158
Despite euro's brief rise above previous 1.0278 resistance to a near 4-week high of 1.0293 (Asia) Tuesday, subsequent selloff to as low as 1.0124 in New York morning Wed on broad-based usd's rebound signals corrective rise from July's 20-year bottom has
possibly ended, below 1.0083 would head to 1.0048/50.

On the upside, a daily close above 1.0216/20 may prolong choppy swings and risk stronger gain to 1.0250/54.

Data to be released on Thursday:
Australia trade balance, imports, exports.
Germany industrial orders, U.K. S&P construction PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchases, BOE MPC rate hike, BOE MPC rate unchanged, BOE MPC rate cut.
U.S. international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada building permits, trade balance, exports and imports.

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