AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Sept 2019 03:30GMT

EUR/USD - 1.0941
Despite euro's short-covering rebound to 1.0958 in New York on Friday after hitting a fresh 28-month trough of 1.0906 initially in Asia suggests minor consolidation would be seen before prospect of further weakness, loss of downward momentum is likely to keep price above projected sup at 1.0865.

On the upside, only a daily close above 1.0967 signals temporary low is in place and risks stronger correction towards 1.1005, however, reckon strong res at 1.1024/25 should cap upside.

We have data dump from the euro area countries in European morning, please refer to our Economic Indicator section for details, pay attention to release of German retail sales at 06:00GMT.

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AceTraderFx Oct 02: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major

Update Time: 02 Oct 2019 03:30GMT

EUR/USD - 1.0939
Despite euro's resumption of medium term decline to a fresh 28-month trough of 1.0880 in Europe on Tuesday, subsequent rally to 1.0942 (New York) on usd's broad-based weakness suggests temporary low is in place and stronger retracement towards 1.0967 would be seen before prospect of another fall.

Below 1.0906/08 needed to bring re-test of 1.0880, break, 1.0840 later. Only above 1.1000/05 would risk gain towards 1.1025.

There is no eco. data due out from the euro area countries, however, one should keep an eye out for a speech by ECB Vice President de Guindos at a meeting organised by the ECB in FFT at 12:00GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 Oct 2019 03:30GMT

EUR/USD - 1.0960
Although euro's rebound from Tuesday's fresh 28-month trough at 1.0880 to 1.0963 (New York) yesterday's suggests recent downtrend has made a temporary low and range trading is likely to continue ahead of release of Fri's key U.S. jobs data, a daily close above 1.0967 needed to bring stronger retarcement towards 1.1025.

Below 1.0905 anytime signals said correction has ended and would yield re-test of 1.0880, then later towards 1.0840.

Today is PMI day in the euro area countries (markets in Germany are closed), Italy will kick off with Markit services PMI, then the same from France, Germany n the EU, EU's producer prices, n retail sales. We also have ECB's Enria n ECB Vice Predident de Guindos speaking in European morning.

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

DAILY MARKET OUTLOOK on Major
Update Time: 04 Oct 2019 03:10GMT

EUR/USD - 1.0978
Although euro's erratic rise to 1.0999 in New York yesterday due to downbeat U.S. services data and falling yields suggests recent downtrend has made a temporary low at Tuesday's fresh 28-month trough at 1.0880, a daily close above strong res at 1.1025 needed to bring stronger retracement towards 1.1075 next week.

On the downside, below 1.0942 would be the 1st signal correction has ended and yield weakness to 1.0905, then re-test of 1.0880.

Data to be released on Friday:
China market holiday, Australia retail sales, France budget balance, Italy retail sales, GDP, U.K. BBA mortgage rate, U.S. non-farm payrolls, private payrolls, unemployment rate, average earning, international trade, trade balance and Canada trade balance, exports, imports, Ivey PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Oct 2019 03:10GMT

EUR/USD - 1.0970
Despite euro's rising one tick above last week's high at 1.0999 (Thursday) to 1.1000 in New York morning yesterday, subsequent retreat due to renewed usd's strength suggests correction from October's fresh 28-month bottom at 1.0880 has possibly ended, below 1.0942 would add credence to this view and would head back towards 1.0905.

On the upside, only above 1.1000 would bring marginal gain towards 1.1025 before prospect of decline due to loss of upward momentum.

On the data front, Germany will kick off with industrial output, industrial production, then
France's current account, imports n exports and Italy's retail sales. ECB Chief Economist will take part in panel discussion at the ECB's annual conference on monetary policy on Frankfurt at 09:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 09 Oct 201903:30GMT

EUR/USD - 1.0960
Euro's decline from this week's high at 1.1000 (Monday) to 1.0942 yesterday's due to renewed usd's strength in New York suggests early corrective rise from last week's fresh 28-month trough at 1.0880 has made a top and downside bias remains for subsequent weakness towards pivotal sup at 1.0905 after consolidation.

Only above 1.1000 may risk stronger retracement of recent downtrend and risk gain towards 1.1025 before prospect of decline due to loss of upward momentum.

No economic data is due out from the euro area countries, however, we have a Eurogroup as well as EU FinMins meeting today, so keep an eye out on comments by ECB and European officials.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Oct 2019 03:30GMT

EUR/USD - 1.0985
Euro's rebound from 1.0942 (Tue) to 1.0989 yesterday suggests pullback from Tuesday's 11-day high at 1.1000 has ended and near term upmove from Oct's fresh 28-month bottom at 1.0880 would extend marginal gain after consolidation, loss of upward momentum would limit upside to 1.1025 and yield decline later today or tomorrow.

On the downside, a daily close below 1.0942 sup would signal said correction has ended, then further weakness towards 1.0905 would follow.

On the data front, Germany will kick off with exports, imports and trade balance, then France's industrial output and then the same from Italy. Pay particular attention to release of minutes of last ECB monetary policy meeting at 11:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 Oct 2019 03:30GMT

EUR/USD - 1.1013
Euro's rally above Monday's 1.1000 high to a 2-week top at 1.1034 (Europe) yesterday confirms recent upmove from October's fresh 28-month bottom at 1.0880 has resumed and subsequent pullback in New York session would bring consolidation before heading to 1.1075, loss of upward momentum should cap price below key res at 1.0109.

Only a daily close below 1.1000 signals temporary top is in place and risk would shift to the downside for stronger retracement towards 1.0942 early next week.

On the data front, the only eco. data from euro area countries is Germany's final CPI and HICP. Outgoing ECB President Draghi will speak at a university event in Milan 09:30GMT, then ECB VP de Guindos will speak at a banking event in Madrid at 10:30GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Oct 2019 03:30GMT

EUR/USD - 1.1026
Despite euro's resumption of recent erratic upmove from October's fresh 28-month trough at 1.0880 to a 2-1/2 week high at 1.1062 Friday, subsequent retreat to 1.1025 in Asia today suggests temporary top made and range trading would be seen before prospect of another rise, however, reckon 1.1109 (September's top) would remain intact.

On the downside, only below 1.1000 would yield stronger retracement to 1.0968/71 but 1.0942 should hold.

On the data front, we have Germany's whole price index for Sep n then EU's industrial production. ECB Vice President Guindos will make an opening speech at a financial event in Madrid at 07:15 GMT.

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Oct 2019 03:30GMT

EUR/USD - 1.1026
Despite euro's narrow movement in Monday's session as market was was on the yen and sterling, subsequent rebound from 1.1014 (Europe) suggests pullback from last Friday's near 3-week high at 1.1062 has ended and recent upmove from October's fresh 28-month bottom at 1.0880 would resume after consolidation, however, loss of upward momentum should cap price below 1.1109 (Sep peak).

On the downside, only a daily close below 1.1000 (previous res, now sup) may risk stronger retracement of aforesaid rise towards 1.0968 but sup at 1.0942 should remain intact.

On the data front, France will kick off with final CPI, then Germany's ZEW eco. sentiment n Zew current condition n lastly EU's eco. sentiment. We have ECB's Knot speaking at Dutch cenbank press conference in Amsterdam at 09:30GMT.

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