AceTraderFx: Daily Market Outllook on Major -EUR/USD

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

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jan 2020 03:30GMT

EUR/USD - 1.1193
Euro's gain to 1.1206 (Europe) on Monday suggests early correction from last Tuesday's 4-1/2 month peak at 1.1239 has ended at 1.1126 on Friday and consolidation with upside bias remains for gain towards said temporary top but break there needed to extend recent upmove to next chart objective to 1.1185 later this week.

Only a daily close below 1.1180 suggests choppy trading below 1.1239 would continue and risk weakness to 1.1153/58 but reckon 1.1126 should remain intact.

Data to be released on Tuesday :
Japan services PMI, Australia ANZ job advertisements, New Zealand GDT price index.
Swiss CPI, Italy consumer price, CPI (EU norm), EU HICP, core HICP, retail sales.
U.S. international trade, goods trade balance, redbook, durables ex-defense, durable goods, durables ex-transport, ISM manufacturing PMI and Canada trade balance, exports, imports, Ivey PMI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Jan 2020 03:30GMT

EUR/USD - 1.1162
Although euro's decline from 1.1206 (Mon) to 1.1134 yesterday suggests further choppy trading below last Tuesday's 4-1/2 month peak at 1.1239 would continue, below 1.1126 (Fri's reaction low) needed to bring stronger retracement of medium-term uptrend towards 1.1067 later this week.

On the upside, only above 1.1206 signals pullback from said Dec's high has ended, then re-test of this key res would be seen.

Data to be released on Wednesday:
Australia building permits, Japan consumer confidence.
Germany industrial orders, France consumer confidence, current account, trade balance, imports, exports, UK Halifax house prices, EU economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. MBA mortgage application, ADP national employment.

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

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jan 2020 03:30GMT

EUR/USD - 1.1111
Yesterday's break of last week's 1.1126 low confirms euro's recent decline from December's 4-1/2 month peak at 1.1239 to correct medium-term upmove has once again resumed and further weakness is envisaged after consolidation, loss of momentum is expected to keep price above 1.1067 sup and bring rebound.

On the upside, only a daily close above 1.1168 signals temporary low is made, however, pivotal res at 1.1206 should remain intact.

Data to be released on Thursday :
Australia AIG construction index, UK BRC retail sales, RICS housing price balance, Australia trade balance, imports, exports, China PPI, CPI, Germany industrial production, exports, imports, trade balance, current account, Swiss retail sales, Italy unemployment rate, EU unemployment rate, Canada house starts, building permits and U.S. initial jobless claims.

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

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jan 2020 03:30GMT

EUR/USD - 1.1107
Despite euro's recovery in New York after resumption of recent decline from Dec's 4-1/2 month peak at 1.1239 to 1.1094 yesterday suggests initial consolidation is in store, outlook remains mildly bearish for weakness towards chart objective at 1.1067, loss of downward momentum should keep price above 1.1041.

On the upside, only a daily close above 1.1168 (downbeat U.S. jobs report perhaps) signals low is made, then risk would shift to upside for stronger retracement towards 1.1206 early next week.

Data to be released on Friday :
Japan all household spending, coincident index, leading indicator, Australia AIG services index, retail sales.
Swiss unemployment rate, France industrial output, Italy industrial output.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales and Canada unemployment change, employment rate.

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

DAILY MARKET OUTLOOK on Major
Update Time: 13 Jan 2020 03:30GMT

EUR/USD - 1.1117
Although euro's strong rebound on Friday from 1.1086 (Europe) to 1.1129 in New York on soft U.S. jobs data suggests recent decline from December's 4-1/2 month peak at 1.1239 has made a temporary low and stronger retracement towards 1.1144 (38.2% r) would be seen before prospect of another fall, below 1.1086 would extend to 1.1055/60.

Only above 1.1163/68 would risk gain to 1.1206 but 1.1239 should remain intact and yield retreat.

Data to be released later:
Italy retail sales and UK GDP, industrial output, manufacturing output, construction output, goods trade balance, goods trade balance non-EU on Monday.

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 Jan 2020 03:30GMT

EUR/USD - 1.1132
Despite euro's resumption of recent decline from December's 4-1/2 month peak at 1.1239 to a 2-week bottom of 1.1086 on Friday, subsequent rebound to 1.1146 yesterday suggests temporary trough is in place and consolidation with upside bias remains, above 1.1168 needed to extend to 1.1200/06.

On the downside, only below 1.1086 would risk another fall to 1.1067/70, however, 1.1041 should remain intact.

Data to be released on Tuesday:
New Zealand NZIER business confidence, building permits, Japan current account, trade balance, Eco watchers outlook, Eco watchers current, China exports, imports, trade balance.
U.S. core CPI, CPI, real weekly earnings, redbook, Federal budget.

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

DAILY MARKET OUTLOOK on Major
Update Time: 15 Jan 2020 03:30GMT

EUR/USD - 1.1128
Despite yesterday's retreat from 1.1144 (Europe) to 1.1105 in New York, subsequent rebound to 1.1134 suggests further choppy trading above last Friday's 2-week bottom at 1.1086 would continue and above 1.1168 would extend gain to 1.1180/85, however, reckon 1.1206 would remain intact.

On the downside, only below 1.1086 would revive bearishness for weakness to 1.1067/70, break, 1.1041.

Data to be released on Wednesday:
New Zealand food price index, Australia westpac consumer survey, Japan machine tool order.
France CPI (EU norm), CPI, Germany GDP, UK core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output, EU trade balance, industrial production.
U.S. PPI, core PPI.

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 Jan 2020 03:30GMT

EUR/USD - 1.1154
Euro's rally on Wednesday from 1.1119 (Europe) and then break of Monday's 1.1146 high to 1.1163 in NY suggests recent upmove from last Friday's 2-week bottom at 1.1086 has resumed and consolidation with mild upside bias would be seen, however, reckon 1.1180/85 would cap upside and yield retreat.

On the downside, below 1.1105 would indicate recovery has ended instead and bring re-test of 1.1086, break, 1.1067/70.

Data to be released on Thursday:
New Zealand retail sales, Japan corp goods price, machinery orders, UK RICS housing price balance, China house price index.
Germany CPI, HICP.
U.S. import prices, export prices, initial jobless claims, Philly Fed manufacturing survey, retail sales ex-autos, retail sales, business inventories, NAHB housing market index.

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 Jan 2020 03:30GMT

EUR/USD - 1.1135
Despite euro's rally from last Friday's 2-week bottom at 1.1086 to 1.1172 yesterday, subsequent retreat to 1.1129 on upbeat U.S. data suggests temporary top made and consolidation with downside bias remains for weakness towards 1.1105 (Tuesday's low), where break would bring re-test of 1.1086.

On the upside, only above 1.1172 would risk another rise to 1.1200/06 before prospect of correction.

Data to be released on Friday:
Australia manufacturing PMI, China industrial output, retail sales, GDP, Japan tertiary industry index.
Swiss producer/import price, France budget balance, Italy trade balance, global trade balance, CPI, CPI (EU norm), EU current account, construction output, HICP, HICP core, UK retail sales, retail sales ex-fuel.
U.S. building permit, housing starts, industrial production, capacity utilization, manufacturing output, JOLTS job openings, University of Michigan sentiment.

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AceTraderFx Jan 20: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jan 2020 03:30GMT

EUR/USD - 1.1094
Euro's selloff from Thursday's 1.1172 high to 1.1087 on Friday, then intra-day 1-tick break of previous January's 1.1086 low to 1.1085 bottom (Reuters) in New Zealand suggests recent decline from December's 4-1/2 month peak at 1.1239 has resumed and further weakness to 1.1041/45 would be seen after consolidation.

On the upside, only above 1.1129 would risk stronger retracement to 1.1146, then possibly 1.1172.

Data to be released next week :
UK Rightmove house price index, Japan industrial output, capacity utilization, Germany production prices.
U.S. market holiday on Monday.

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