AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Jan 2019 06:30 GMT

EUR/USD - 1.1436
Yesterday's marginal gain to 1.1451 suggests euro's upmove from last Thursday's 5-week trough at 1.1290 would head to 1.1470/75 after consolidation, however, loss of upward momentum suggests res at 1.1491 would cap upside and yield retreat.

On the downside, a daily close below 1.1390 signals temporary top is made and risk stronger retracement to 1.1350/55 later.

The euro area countries will release a slew of eco. data starting with France's Q4 GDP, Germany's Gfk consumer confidence, import n export price, France's consumer spending, Italy's bus. n consumer confidence, then EU's bus climate, eco. sentiment. industrial, services n consumer sentiment n lastly, Germany inflation data.

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

DAILY MARKET OUTLOOK on Major
Update Time: 31 Jan 2019 05:30 GMT

EUR/USD - 1.1492
Yesterday's rally above 1.1451 (Wednesday's top, now sup) to a near 3-week high at 1.1502 after 'dovish' FOMC statement and Fed' chair J. Powell's comments suggests correction from January's peak at 1.1570 has ended last week at 1.1290 and gain towards 1.1550 is envisaged after consolidation, reckon 1.1570 should remain intact ahead of Friday's U.S. jobs report.

Only a daily close below 1.1451 signals temporary top has been made, then risk is seen for a stronger retracement of aforesaid rise to 1.1406/11.

Data to be released on Thursday:
Japan industrial production, construction orders, housing starts, Australia export prices, import prices, China NBS non-manufacturing PMI, NBS non-manufacturing PMI, NBS manufacturing PMI.
UK GfK consumer confidence, nationwide house price, Germany retail sales, unemployment change, unemployment rate, France CPI, Italy GDP, unemployment rate, EU GDP, Canada GDP, producer prices.
U.S. personal income, personal spending, PCE, initial jobless claims, Chicago PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 01 Feb 2019 05:30 GMT

EUR/USD - 1.1447
Despite euro's resumption of upmove from January's 5-week trough at 1.1290 to 1.1515 (Europe) yesterday, subsequent decline to 1.1435 on downbeat comments by ECB's Weidmann suggests said move has made a temporary top and choppy sideways swings are in store ahead of release of key U.S. jobs report.

As long as 1.1390 holds, one more rise to 1.1540/50 is likely but January's peak at 1.1570 should cap upside. Below 1.1390 would risk stronger retracement to 1.1340/50 but 1.1310 would remain intact.

Today is PMI day in the euro area countries, please refer to our EI section for details of EZ eco. releases.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Feb 2019 05:30 GMT

EUR/USD - 1.1457
Despite Friday's rebound from 1.1434 (Asia) to 1.1489 in post-NFP New York session, subsequent softness suggests further choppy trading below Thursday's 2-1/2 week high at 1.1515 would continue with downside bias, however, reckon 1.1390/00 would contain weakness and bring another rebound.

Above 1.1489 would bring re-test of 1.1515 but 1.1540/50 should cap upside and only below 1.1390 risks stronger retracement to 1.1340/50.

Data to be released later today:
New Zealand building permits, China market holiday, Australia ANZ job ads, building permits.
UK Markit construction PMI, EU Sentix index, producer prices, Italy consumer price, CPI(EU Norm.
U.S. ISM New York index on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Feb 2019 05:30 GMT

EUR/USD - 1.1340
Yesterday's resumption of decline from last Thursday's 2-1/2 week high at 1.1515 to 1.1324 (Europe) suggests early correction from January's 1.1290 bottom has ended there and as long as 1.1380 holds, re-test of 1.1290 would be seen later today or Monday but break needed to extend weakness towards 2018 trough at 1.1216.

Only a daily close above 1.1380 signals low is made, then risk would shift to upside for stronger gain to 1.3401, then 1.1435.

As euro has fallen this week after release of a slew of EZ eco. data, so pay attention to today's releases starting with German exports n imports, trade balance, current account, then France's industrial output and non-farm payrolls, n lastly, Italy's industrial output.

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AceTraderFx Feb 11: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 11 Feb 2019 05:30 GMT

EUR/USD - 1.1326
Euro's weakness to 1.1320 (New York) on Friday, then 1.1315 in New Zealand today suggests re-test of previous sup at 1.1290 would be seen after consolidation, a break there would extend recent fall from January's 1.1570 peak to 1.1267/70, loss of momentum should keep price above 1.1245/50.

On the upside, only above 1.1360 signals temporary low has been made and may risk stronger retracement to 1.1380/85.

Although no euro area data is due out today, the Eurogroup is meeting on Monday and ECB President Draghi will participate in this meeting. ECB VP Guindos will deliver a speech at a business school in Madrid at 08:30GMT.

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AceTraderFx Feb 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 12 Feb 2019 05:30 GMT

EUR/USD - 1.1277
Yesterday's break of Jan's 1.1290 low to a 2-1/2 month trough at 1.1267 suggests re-test of 2018 16-month bottom at 1.1216 is on the cards this week after consolidation, however, anticipated loss of downward momentum should keep p[rice above 1.1187.

On the upside, only above 1.1330 signals temporary low has been made, then risk is seen for stronger retracement to 1.1360/70 before prospect of another fall later this week.

Although no eco. data is due out from the euro area countries, we have ECB Governing Council member Weidmann speaking at 08:00GMT, then ECB's policymaker Nowotny speaking at 09:00GMT. The ECOFIN will hold a meeting today, so one can expect EU officials making comments b4 n after the meeting.

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Feb 2019 05:30 GMT

EUR/USD - 1.1330
Although euro's rally from Tuesday's fresh 2-1/2 month trough at 1.1258 to as high as 1.1341 on short covering and usd's broad-based retreat suggests recent decline has made a temporary low and 1-2 days of consolidation with near term upside bias is seen for gain to 1.1360, reckon 1.1400/05 should cap present rise and yield decline later this week.

A daily close below 1.1291 would signal correction is over and bring re-test of 1.1258, then towards 2018 bottom at 1.1216.

The only eco. data due out today is EU's industrial production, traders will buy the euro on dips if readings come in weaker than expectation due to usd's weakness.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Feb 2018 06:30 GMT

EUR/USD - 1.1265
Euro's intra-day brief break of Tuesday's 2-1/2 month low at 1.1258 due to follow-through selling in Australia on renewed usd's strength in New York session suggests price is en route towards 2018 16-month bottom at 1.1216 (November), a break there would pressure euro towards 1.1185/90 later.

On the upside, only above 1.1300/10 signals temporary low is made and may risk another bounce to 1.1340/44.

Today is GDP day in the euro area countries, France will kick off with unemployment rate, then German Q4 GDP, then EU's GDP n employment change.

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Feb 2018 05:30 GMT

Update Time: 15 Feb 2019 00:40 GMT
EUR/USD - 1.1291
Although euro's erratic rise from Thursday's fresh 2-1/2 month trough at 1.1249 (Reuters) to 1.1310 in New York after downbeat U.S. retail sales data, then 1.1311 (AUS) today suggests recent downtrend has made a temporary low and range trading with mild upside bias is seen, reckon res at 1.1341/44 should cap intra-day corrective rise and yielded one more.

On the downside, below 1.1249 would extend marginal weakness, however, weakening of downward momentum should keep price above 2018 bottom at 1.1216 and risk has increased for a correction to occur next week.

Data out on Friday:
New Zealand manufacturing PMI, China PPI, CPI, Japan industrial output, capacity utilization, Italy trade balance, UK retail sales, EU trade balance, and U.S. New York Fed manufacturing index, import prices, export prices, industrial production, capacity utilization, manufacturing output, University of Michigan sentiment.

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