AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 02 Aug 2019 05:30 GMT

EUR/USD - 1.1072
Although euro's rally from yesterday's fresh 2-year trough at 1.1028 (Europe) to 1.1195 in New York led by selloff in usd/yen suggests recent downtrend has made a temporary low and choppy sideways trading is in store ahead of release of key U.S. jobs report, as long as 1.1102/08 (previous sup area, now res) holds, downside bias remains but only below 1.1100 needed to extend weakness towards 1.0975.

A daily close above 1.1108 would risk stronger correction to 1.1130/35, then possibly towards 1.1162 early next week.

The euro area counties will release a slew of eco. data starting with Italy's industrial output, retail sales, then EU's PPI and retail sales.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

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

EUR/USD - 1.1115
Despite euro's resumption of MT decline to a 26-month trough at 1.1028 Thursday, subsequent rally to 1.1116 in post-NFP on
Friday suggests temporary bottom made and consolidation with upside bias remains for stronger retracement towards 1.1162 before prospect of retreat.

On the downside, only below 1.1061 would indicate recovery has ended instead, risk weakness towards 1.1028/34.

Data to be released today:
Australia AIG services index, AZN job ads, Japan services PMI, China Caixin services PMI.
Swiss consumer confidence, retail sales, France non-farm payrolls, industrial output, Markit services PMI, Italy Markit services, Germany Markit services PMI, EU Markit services, sentix index.
U.S. Markit services, ISM non-manufacturing PMI and Canada market holiday on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 06 Aug 201905:30 GMT

EUR/USD - 1.1230
Euro's rally to 1.1212 in New York on Monday due to continued usd's weakness and intra-day break above said res to 1.1249 at Asian open suggests medium term decline has made a temporary low at last Thursday's 26-month trough at 1.1028 and further gain towards 1.1285 would be seen after consolidation.

On the downside, only below 1.1167 may risk weakness to 1.1132 before prospect of rebound.

Economic calendar is quite light today with Germany industrial order followed by France non-farm payrolls and industrial output.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Aug 2019 05:30 GMT

EUR/USD - 1.1208
Although euro's resumption of upmove from last Thursday's 26-month trough at 1.1028 to 1.1249 on Tue suggests recent decline has made a temporary bottom, subsequent retreat to 1.1168 signals first leg of correction has ended and would bring range trading before price head towards 1.1285 later.

On the downside, only below 1.1162/68 would risk retracement to 1.1139 (50% r) before prospect of rebound.

Data to be released on Wednesday:
New Zealand RBNZ interest rate decision.
Germany industrial output, France current account, trade balance, import, export, U.K. Halifax house prices.
U.S. MBA mortgage app and Canada Ivey PMI.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

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

EUR/USD - 1.1209
Although euro's retreat from yesterday's 1.1241 high suggests choppy trading below Tuesday's 2-week top at 1.1249 would continue before recent upmove from last Thursday's 26-month trough at 1.1028 resumes and extend towards 1.1285, reckon 1.1345/49 should hold and yield retreat.

On the downside, only below 1.1162/68 would risk weakness towards 1.1132/35.

Although no eco. data is due out from the euro area countries today, the EU will publish the Economic Bulletin which is released two weeks after each Governing Council meeting.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 09 Aug 2019 05:30 GMT


EUR/USD - 1.1191
Euro's daily swings in last few sessions after hitting a 2-week high of 1.1249 (Tuesday) are expected to continue and as long as 1.1168 (reaction low) holds, recent upmove from Aug's 2-year bottom at 1.1028 would head towards next daily target at 1.1285 after consolidation.

Only a daily close below 1.1168 signals first leg of correction has ended, then risk would shift to downside for a stronger retracement of aforesaid rise to 1.1130/35, however, reckon 1.1100/05 would remain intact.

The euro area countries will release a slew of economic data during European morning, please refer to our economic indicator section for details.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

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

EUR/USD - 1.1204
Despite last Fri's intra-day erratic rise to 1.1222 in New York due to cross-buying in euro especially vs sterling, subsequent retreat suggests the daily wild swings from last Tuesday's 2-week high at 1.1249 would continue, as long as 1.1168 (reaction low) holds, early upmove from August's fresh 2-year trough at 1.1028 would extend marginal gain, loss of momentum is likely to limit upside to 1.1285.

Only a daily close below 1.1168 signals 1st leg of correction has ended, then risk would shift to downside for stronger retracement to 1.1110/20 before prospect of rebound later this week.

On the data front, no economic data is due out from the euro area countries and no speeches by ECB officials, so one can expect a quiet start in Europe too.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

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

EUR/USD - 1.1206
Euro's rebound from 1.1163 in Europe to 1.1230 (New York) yesterday suggests early pullback from last Wednesday's 2-week high at 1.1249 has possibly ended and consolidation with upside bias remains, above 1.1249 would extend recent upmove from August's 26-month trough at 1.1028 towards 1.1285 which may hold on first testing.

On the downside, only below 1.1163 would risk stronger retracement towards 1.1132/35.

Data to be released on Tuesday:
Japan corp goods price, tertiary industry index, machine tools orders, Australia NAB business condition.
Germany wholesale price index, CPI, HICP final, ZEW economic sentiment, UK claimant count, ILO unemployment rate, employment change, average weekly earnings, EU ZEW economic sentiment.
U.S. core CPI, CPI, redbook weekly earnings, redbook retail sales.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2019 05:30 GMT

EUR/USD - 1.1176
Euro's daily wild swings this week suggests further choppy trading below Aug's 1.1249 high would continue and yesterday's usd rally vs G4 currencies suggests downside bias remains and below Mon's 1.1163 low would bring stronger retracement of recent upmove to 1.1132/35, oversold condition would keep price above 1.1103.

Only above 1.1249 would extend upmove from August's fresh 2-year bottom at 1.1028 towards 1.1285 later this week.

The euro area countries will release a slew of eco. data starting with France's unemployment, Germany's prel. Q2 GDP, France's CPI and then EU's employment change, Q2 GDP and industrial production.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Aug 2019 05:30 GMT

EUR/USD - 1.1191
Euro's daily swings in last few sessions after hitting a 2-week high of 1.1249 (Tuesday) are expected to continue and as long as 1.1168 (reaction low) holds, recent upmove from August's 2-year bottom at 1.1028 would head towards next daily target at 1.1285 after consolidation.

Only a daily close below 1.1168 signals first leg of correction has ended, then risk would shift to downside for a stronger retracement of aforesaid rise to 1.1130/35, however, reckon 1.1100/05 would remain intact.

The euro area countries will release a slew of economic data during European morning, please refer to our economic indicator section for details.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates