AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Jul 2018 5:30 GMT

EUR/USD - 1.1691
Although euro's resumption of recent upmove to a near 4-week high of 1.1693 (New York) due to broad-based usd's weakness as easing of trade tensions had boosted risk appetite suggests marginal gain would be seen after consolidation, overbought condition should cap price below 1.1700 (August's high) and bring a much-needed minor correction later today.

Below 1.1640/50 (prev. res, now sup) anytime signals temporary top is made and yields stronger retracement to 1.1590/94.

The euro area countries will release a slew of eco. data starting with France's consumer confidence, then Italy's bus confidence, consumer confidence and PPI.
Pay attention to speech by ECB Chief Economist Praet which will participate in a panel on "monetary and macroprudential policy interactions" at a congress in Germany at 11:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Aug 2018 05:30 GMT

EUR/USD - 1.1686
Despite euro's expected resumption of recent strong upmove to a fresh 4-week high of 1.1734 in NY, subsequent retreat due to broad-based usd's rebound following upbeat U.S. consumer confidence and rising yields suggests temp. top has been made n below 1.1663 would bring stronger retracement to 1.1620/30.

Only above 1.1734 risks marginal gain twd 1.1750, however, loss of upward momentum should cap price well below key res
at 1.1791.

Data to release on Wednesday :
France consumer spending, GDP, Swiss ZEW investor sentiment, U.S. Gfk consumer sentiment, MBA mortgage applications, GDP, PCE, pending home sales, and Canada current account.

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

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

EUR/USD - 1.1704
Despite yesterday's decline to 1.1652 ahead of NY open due to renewed weakness in the Turkish lira in European morning, subsequent strong bounce to 1.1710 led by intra-day 'jump' in sterling suggests pullback from Tuesday's 4-week high at 1.1734 has ended and gain to 1.1750 may be seen after consolidation, loss of upward momentum should cap euro below key res at 1.1791 this week.

Below 1.1652 anytime would bring stronger retracement of recent rise from 1.1301 towards 1.1594.

The euro area countries will release a slew of eco. data (please refer to EI section for details. There is a business conference in Frankfurt where many financial heavy weights will attend n Brexit is one of the topics of discussions, so pay attention for any comments made by the participants later. Also, Bundesbank President Weidmann will be delivering a speech in Athens at 17:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 31 Aug 2018 05:30 GMT

EUR/USD - 1.1672
Euro's decline to 1.1642 yesterday due to continued weakness in the Turkish lira confirms recent strong upmove has made a temporary top at Tuesday's fresh 4-week high at 1.1734 and despite subsequent recovery in New York afternoon on short covering, consolidation with downside bias remains for said erratic fall to head towards 1.1594, oversold condition should keep price above 1.1555.

On the upside, only above 1.1718 would risk re-test of 1.1734, then marginal gain to next daily chart obj. at 1.1750 before correction occurs on Mon due to loss of upward momentum.

Data out later on Friday :
UK Gfk consumer sentiment, France CPI, producer prices, Italy unemployment, consumer price, CPI, GDP, EU HICP.
U.S. producer prices, Chicago PMI, Michigan Consumer sentiment index, and Canada budget balance.

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Sept 2018 06:30 GMT

EUR/USD - 1.1592
Friday's expected resumption of decline from Tuesday's fresh 4-week peak of 1.1734 to a 1-week trough of 1.1585 as renewed global trade tensions had supported the greenback in New York suggests said move to retrace recent upmove from 1.1301 (August low) would head to daily downside objective at 1.1560/70, oversold condition should keep price above sup at 1.1530 today.

On the upside, only above 1.1642 signals 1st leg of retracement is over and may risk stronger gain to 1.1680/90 b4 prospect of another fall later this week.

Data out on Monday:
New Zealand terms of trade, import, export, Japan Nikkei manufacturing PMI, business capex, Australia retail sales, business inventories, China Caixin manufacturing PMI.
Swiss manufacturing PMI, retails sales, Italy Markit Manufacturing PMI, France Markit Manufacturing PMI, Germany Markit Manufacturing PMI, EU Markit Manufacturing PMI, and UK Markit Manufacturing PMI.
U.S. and Canada markets are closed for holiday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Sept 2018 05:30 GMT

EUR/USD - 1.1610
Although yesterday's recovery to 1.1628 following decline last week from 1.1734 to 1.1585 (Friday) suggests said move has made a minor low and initial consolidation is in store, outlook remains bearish for further fall, however, near term loss of momentum should keep price above sup at 1.1530 and bring rebound.

On the upside, only a daily close above 1.1642 (previous sup, now res) may risk stronger retracement to 1.1680/90 before prospect of another leg of decline later this week.

The eco. calendar is pretty thin today with Jul PPI being the only release from the EU. ECB board member Nowotny will speak at an exhibition opening in Vienna later today at 16:00GMT.

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

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

EUR/USD - 1.1585
Despite yesterday's anticipated resumption of decline from last Tuesday's fresh 4-week peak of 1.1734 to an 11-day low of 1.1530 in New York, subsequent cable-led rebound due to short covering suggests temporary low is possibly made and range trading with upside bias is in store, above 1.1600 would bring stronger gain but reckon 1.1642 (previous up, now res) may hold on 1st testing.

Only below 1.1530 risks marginal weakness, however, 'loss of momentum' should limit weakness to 1.1495/00 and bring strong rebound ahead of Friday's key U.S. jobs report.

Today is services PMI day in the euro area countries with Italy starting off with Markit services PMI for August, then the same from France, Germany followed by the EU's retail sales. ECB Board member Praet will speak at Eurofi Financial Forum in Vienna at 08:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Sept 2018 05:30 GMT

EUR/USD - 1.1643
Euro's anticipated rebound yesterday to 1.1640 (New York), then intra-day gain to 1.1659 due to renewed usd's weakness suggests early correction from August's 1.1734 peak has ended at 1.1530 (Tuesday) and consolidation with upside bias remains for further headway towards 1.1690, near term o/bot condition should cap price well below 1.1734.

On the downside, only below 1.1600/10 prolongs choppy sideways swings, risks weakness to 1.1560/70 but 1.1530 should remain intact.

Data to be released later on Thursday :
Swiss GDP, Germany industrial orders, U.S. ADP employment change, initial jobless claims, labor costs, productivity, Markit services PMI, durable goods, ISM non- manufacturing PMI, factory orders.

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Sept 2018 05:30 GMT

EUR/USD - 1.1620
Although yesterday's initial marginal gain to 1.1659 at Asian open signals euro's early correction from August's peak at 1.1734 has ended at 1.1530 (Tuesay), subsequent choppy swings in New York session suggest range trading is in store before prospect of further headway towards 1.1690.

On the downside, only below 1.1585 (upbeat U.S. NFP perhaps) would risk stronger retreat but reckon 1.1530 should remain intact and yield further volatile trading.

Ahead of key U.S. jobs report, the euro area countries will release Germany's industrial output, import, exports and current account, then similar trade data from France, Italy's retail sales and EU's GDP. Eurogroup wil meet today and Euro FinMins will hold a press conference at 10:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Sept 2018 06:30 GMT

EUR/USD - 1.1555
Friday's intra-day selloff from 1.1649 (Europe) to as low as 1.1551 in NY due to renewed usd's broad-based rally after robust U.S. jobs data suggests early correction from 1.1530 (Tuesday) has ended at 1.1659 and recent decline would head towards 1.1490/95 after consolidation, however, loss of downward momentum should keep price above 1.1466.

On the upside, only above 1.1606 signals low is made and may risk another rise back towards 1.1649 later.

The euro area eco. calendar is very thin today with the EU's Sentix investor confidence for September at 08:30GMT being the only data due out.

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