AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 09 Apr 2018 05:30 GMT

EUR/USD - 1.2273
Euro's intra-day rally from last Friday's 1-month bottom of 1.2215 (Europe) to 1.2291 in post-NFP New York session due to broad-based usd's weakness on continued U.S/China trade tension and falling U.S. stocks suggests recent decline has made a temporary low and consolidation with upside bias is seen, above 1.2315 would add credence to this view and bring stronger retracement towards 1.2344.

On the downside, only below 1.2236/40 would dampen bullish prospect of further gain and may risk weakness to 1.2215/20.

On the eco. data front, Germany will release imports n exports data. trade balance n current account, then the EU will release Sentix investor confidence index. ECB VP Constancio will speak at the ECON Committee in Brussels at 13:00GMT n then at 16:45GMT, ECB Board member and chief economist Praet will participate in a meeting of the European Finance Forum in Frankfurt.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Apr 2018 05:30 GMT

EUR/USD - 1.2322
Euro's anticipated rally to 1.2330 due to renewed usd's broad-based weakness in New York confirms recent decline from March's 1.2477 high ended earlier at 1.2215 (Friday) and consolidation with upside bias remains for marginal gain, reckon 1.2373/77 (previous sup, now res) may hold on 1st testing.

On the downside, only below 1.2291 signals temporary top is made and risk stronger retracement to 1.2260/61 before prospect of another rise later this week.

Data to be released later on Tuesday:
France industrial output, Italy industrial output, U.K. BRC retail sales, Canada housing starts, building permits.
U.S. PPI, core PPI, redbook, wholesale inventories, wholesale sales

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2018 05:30 GMT

EUR/USD - 1.2330
Although euro's intra-day decline on Thur initially due to downbeat EZ data and then selloff to 1.2300 in New York morning after dovish ECB minutes suggests early upmove from last Friday's 1-month trough at 1.2215 has made a temp. top at 1.2397 (Wednesday), subsequent rebound would bring consolidation.

As long as 1.2280/90 holds, prospect of another bounce twd 1.2397 remains and only below 1.2280 risks stronger retracement to 1.2260 but 1.2215 sup should remain intact.

Data to be released on Friday:
Germany CPI, HICP, EU trade balance, and U.S. JOLTS job openings, University of Michigan sentiment

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Apr 2018 06:30 GMT

EUR/USD - 1.2332
Although euro has shown muted reaction to U.S./allied missile strikes on Syria in early trading on Monday, as long as sup at 1.2300 holds, consolidation with upside bias remains and above 1.2370/80 would encourage for re-test of last week's high at 1.2397 (Wed).

Only below 1.2300 risks stronger retracement of euro's recent rise from March's 1.2215 bottom, however, reckon sup at 1.2260 would contain weakness.

Eco. calendar is very light with Germany Mar wholesale price index being the only release due out at 06:00GMT. Later today, ECB Board member Praet will make a keynote dinner speech at the 2018 NABE International Symposium in Madrid, Spain.

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 Apr 2018 06:00 GMT

EUR/USD - 1.2387
Euro's intra-day rally from 1.2324 (Asia) to 1.2395 in New York on Monday due to usd's broad-based weakness suggests early pullback from last week's high at 1.2397 has ended at 1.2300 (Thursday) and gain to 1.2440/45 is envisaged after consolidation.

Overbought readings on hourly indicators should cap price below March's peak at 1.2477.
Only below 1.2324 prolongs choppy consolidation and may risk weakness towards 1.2300.

On the data front, Italy will kick off with final CPI, Germany's will release ZEW eco. sentiment n current conditions, then EU's ZEW eco. sentiment and finally Italy's trade balance. German FinMin Scholz will speak at 0830GMT.

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AceTraderFx Apr 18: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 18 Apr 2018 05:30 GMT

EUR/USD - 1.2370
Despite euro's initial gain to a near 3-week high of 1.2414 in European morning, as intra-day selloff in cable had led to broad-based usd's rally in New York and knocked price to 1.2337 signals temp. top has been made and choppy range trading with downside bias is seen for another corrective fall, reckon sup at 1.2300 would remain intact and yield another rise later this week.

Above 1.2414 would extend upmove from 1.2215 towards 1.2446.
However, loss of upward momentum should cap price below 1.2477.

Data to be released on Wednesday :
Japan exports, imports, trade balance, China house price.
Germany wholesale price index, Italy industrial orders, industrial sales, U.K. DCLG house price index, core CPI, CPI, RPI, core RPI, PPI input, PPI output, PPI core output, EU HICP final, core HICP.
Canada BoC rate decision, and U.S. MBA mortgage application

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

DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2018 05:30 GMT

EUR/USD - 1.2375
Although yesterday's rally to 1.2397 signals euro's 1st leg of correction from Tuesday's 2-week high at 1.2414 has ended at 1.2337, as long as 1.2397 holds, choppy sideways swings would continue before another fell to 1.2300/10.

Above 1.2397 would bring re-test of 1.2414, however, loss of upward momentum should cap price below March's peak at 1.2477 this week.

Data to be released on Thursday:
New Zealand CPI, Australia Westpac leading index, employment change, unemployment rate, Japan tertiary industry index, EU current account, U.K. retail sales, core retail sales, initial jobless claims, leading indicator, and Canada ADP employment change

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AceTraderFx Apr 23: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 23 Apr 2018 05:30 GMT

EUR/USD - 1.2266
Friday's weakness to 1.2250 due to rising U.S. yields and renewed usd's strength suggests decline from last week's high at 1.2414 would resume after consolidation, near term loss of downward momentum should prevent steep drop and reckon April's bottom at 1.2215 would remain intact, bring subsequent rebound.

On the upside, only above 1.2324/29 (previous sup, now res) would signal said fall has made a low and risk stronger gain to 1.2353/58 but 1.2395/00 should cap upside.

Today is PMI day in the euro area countries, France will kick off with Markit mfg and services PMIs, then the same from Germany and then the EU. Germany will release Bundesbank monthly report and ECB Executive Board member Coeure will participate in a financial conference in Frankfurt at 14:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2018 05:30 GMT

EUR/USD - 1.2230
Although euro's rebound from Tuesday's fresh 7-week trough of 1.2182 (Europe) suggests recent decline has made a temporary low, as 1.2245 in New York has checked intra-day gain, bearishness is retained for marginal weakness.
However, loss of downward momentum should keep price well above key sup at 1.2155 (March low) today.

On the upside, a daily close above 1.2250 would confirm recent fall from 1.2414 has made a low, then risk is seen for a stronger retracement to 1.2300/10.

Data to be released on Wednesday:
New Zealand market holiday, Australia market holiday, France consumer confidence, Swiss ZEW investor sentiment, and U.S. MBA mortgage application

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

DAILY MARKET OUTLOOK on Major

Update Time: 30 Apr 2018 05:30 GMT

EUR/USD - 1.2121
Although euro's short-covering rebound from Friday's fresh 3-month trough of 1.2056 to 1.2133 in New York session suggests recent downtrend has made a temporary low, as long as 1.2155 (previous sup, now res) holds, re-test of said sup is still envisaged, however, loss of downward momentum should keep price above 1.2000.

Only a daily close above 1.2155 confirms temporary low is in place, then risk is seen for stronger retracement towards 1.2200.

On the eco. data front, Germany will kick off with retail sales followed by Italy's CPI, and then the same from Germany.

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