AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

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

EUR/USD - 0.9955
Despite euro's daily wild swings following fall from 1.0089 (Friday) to 0.9914 Monday, yesterday's weakness to 0.9911 on renewed usd's strength following upbeat US ISM data suggests re-test of August's 24-year 0.9901 low would be seen, break would extend recent downtrend towards projected target at 0.9855 later.

On the upside, only a daily close above 1.0009 would prolong choppy swings and risk stronger gain to 1.0038/48

Data to be released on Friday:
New Zealand terms of trade, import prices, export prices.
Germany exports, imports, trade balance, current account, Swiss non-farm payrolls, France budget balance, EU producer prices.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, durables ex-defense, durable goods, factory orders, durables ex-transport and Canada labor productivity rate.

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AceTraderFx Sept 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Sept 2022 03:00GMT

EUR/USD - 0.9925
Although euro's cross-led rally from last week's 0.9911 low (Thur) to 1.0033 in post-NFP New York Fri suggests choppy swings above Aug's fresh 24-year trough at 0.9901 would continue, subsequent fall to 0.9946 and intra-day gap-down open has retained bearishness, below 0.9901, 0.9855.

On the upside, only daily close above 1.0000 would indicate a temporary trough is made and risk stronger retracement towards 1.0033, break, 1.0078.

Data to be released today:
Australia AIG construction index, services PMI, business inventories, Japan Jibun bank services PMI, China caixin service PMI.
Swiss GDP, Italy S n P global services PMI, France S n P global services PMI, Germany S n P global services PMI, EU S n P global services PMI, Sentix index, retail sales, U.K. S n P global services PMI.
U.S. market holiday and Canada market holiday on Monday.

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AceTraderFx Sept 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 Sept 2022 03:00GMT

EUR/USD - 0.9960
Despite euro's break of August's 0.9901 low to a fresh 20-year trough of 0.9877 Monday on Nord stream shut-down news, subsequent rebound to 0.9943 in Europe, then intra-day gain to 0.9943 signals a temporary low is possibly made and above 0.9972 would head to 1.0005/09.

On the downside, only a daily close below 0.9901 needed to signal recovery over and yield weakness towards 0.9877, then 0.9850/55.

Data to be released on Tuesday :
Australia current account, net exports contribution, RBA interest rate decision, Japan all household spending.
U.K. retail sales, Germany industrial orders, U.K. S n P construction PMI.
U.S. S n P global services PMI, ISM non-manufacturing PMI and New Zealand GDT price index.

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

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

EUR/USD - 0.9887
Euro's intra-day selloff from 0.9986 on renewed usd's strength and then brief break of Monday's fresh 20-year trough at 0.9877 to 0.9865 Tuesday suggests price would extend to 0.9855, however, loss of momentum may keep euro above projected support at 0.9800 and bring rebound.

On the downside, only a daily close above 0.9986 would risk stronger retracement to 1.0009, break, 1.0033 later.

Data to be released on Wednesday:
Australia AIG services index, GDP, China exports, imports, trade balance, Japan coincident index, leading indicator.
Germany industrial output, U.K. industrial output, Italy retail sales, EU employment change, GDP.
U.S. MBA mortgage application, international trade balance, redbook, goods trade balance, Canada exports, imports, trade balance, BOC rate decision and Ivey PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Sept 2022 04:30GMT

EUR/USD - 0.9993
Despite hitting a fresh 20-year trough of 0.9865 Tue, euro's rally from 0.9876 to 1.0010 in New York on broad-based usd's weakness and pre-ECB short-covering in euro suggests a temporary low is made and stronger gain to 1.0055/60 is likely but 1.0089 should cap upside.

On the downside, a daily close below 0.9930 would signal aforesaid correction over and yield weakness to 0.9865/75.

Data to be released on Thursday:
New Zealand manufacturing sales, U.K. RICS housing price balance, Japan current account, trade balance, GDP, Eco watchers current, Eco watchers outlook, Australia trade balance, imports, exports, France non-farm payrolls, current account, trade balance, imports, exports, Swiss unemployment rate, EU ECB refinancing rate, ECB depositing rate, U.S. initial jobless claims and continuing jobless claims.

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

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

EUR/USD - 1.0030
Despite euro's intra-day sharp fall from Thursday's 1.0030 high to as low as 0.9932 in post-ECB NY morning, subsequent strong bounce on broad-based usd's retreat suggests choppy trading above Tuesday's fresh 20-year 0.9865 low would continue, above 1.0030 would head to 1.0060/70 before down.

On the downside, a daily close below 0.9932 is needed to revive bearishness for weakness towards 0.9865 next week.

Data to be released on Friday:
New Zealand retail sales, China PPI, CPI.
France industrial output, U.K. consumer inflation.
Canada capacity utilization, employment change, unemployment rate, U.S. wholesale inventories and wholesale sales.

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

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

EUR/USD - 1.0137
Euro's gap-up open to 1.0127 in New Zealand Mon following hawkish ECB news over the weekend and then gain to 1.0197 in Europe suggests recent downtrend has formed a temporary low at last Tuesday's 20-year trough at 0.9865, subsequent fall to 1.0105 would bring further range trading.

A firm break below 1.0105 would head back to 1.0061, then 1.0033 while above 1.0197 would revive bullishness for stronger gain to 1.0215/25.

Data to be released on Tuesday:
New Zealand food price index, Japan producer prices, Australia consumer sentiment, NAB business conditions, NAB business confidence.
Germany CPI, U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price, EU ZEW survey expectations, ZEW economic sentiment, ZEW current conditions.
U.S. CPI, redbook and Federal budget.

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

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

EUR/USD - 0.9977
Despite extending erratic rise from last Tuesday's 20-year bottom at 0.9865 to a 3-week high of 1.0197 on short covering in euro, yesterday's selloff from 1.0187 to as low as 0.9968 on rally in usd after red hot US core CPI, then 0.9957 today in Australia suggests correction possibly over and below 0.9930/32 would yield further weakness towards 0.9865.

On the upside, only a daily close above 1.0033/42 would prolong choppy swings and risk stronger gain to 1.0100/05.

Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, industrial output, capacity utilization, Australia Westpac consumer sentiment.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, EU industrial production.
U.S. MBA mortgage application, PPI and manufacturing sales.

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

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

EUR/USD - 0.9976
Despite extending erratic rise from last Tuesday's 20-year bottom at 0.9865 to a 3-week high of 1.0197 on Monday, Tuesday's selloff on hot US CPI to 0.9956 (AUS) yesterday suggests correction over, as 1.0023 has capped recovery, weakness to 0.9930/32 is envisaged but 0.9865 should hold.

On the upside, only a daily close above 1.0033/43 would risk stronger gain to 1.0071/76.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, tertiary industry activities, Australia employment change, unemployment rate.
Germany wholesale price index, France CPI, EU trade balance, labor costs.
Canada housing starts, U.S. NY Fed manufacturing, import prices, export prices, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, retail sales, industrial production, capacity utilization, manufacturing output and business inventories.

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

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

EUR/USD - 0.9995
Despite extending erratic rise from last Tuesday's 20-year bottom at 0.9865 to a 3-week high of 1.0197 on Monday, euro's selloff to 0.9956 (Wednesday) signals correction over and as 1.0023 has capped recovery in New York, weakness to 0.9930/32 is envisaged but 0.9865 should remain intact and yield rebound.

On the upside, only a daily close above 1.0023 may risk stronger retracement to 1.0065/70.

Data to be released on Friday:
New Zealand manufacturing PMI, China house price, retail sales,
Italy trade balance, EU HICP, Italy CPI, Canada wholesale trade.
U.S. University of Michigan sentiment.

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