AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

AceTraderFx Sept 25: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 25 Sept 2020 03:30GMT

EUR/USD - 1.1667
The single currency's fall to a near 2-month bottom at 1.1627 on usd's continued strength yesterday suggests decline from September's 2-year peak at 1.2011 remains in progress and subsequent rebound on short-covering would yield consolidation before prospect of another fall later, below 1.1627 would extend to 1.1600/01, however, loss of momentum would keep price above 1.1570/80 and yield correction.

On the upside, only above 1.1718 would indicate a temporary bottom has been made and risk stronger retracement to 1.1767 before prospect of another retreat.

Data to be released on Friday :
UK GfK consumer confidence, PSNB, PSNCR, Italy manufacturing business confidence, consumer confidence.
U.S. durable goods, durables ex-transportation, durables ex-defense, and Canada budget balance.

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 Sept 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 28 Sept 2020 03:30GMT

EUR/USD - 1.1623
The single currency's fall to a near 2-month bottom at 1.1613 on usd's continued strength on Friday suggests decline from September's 2-year peak at 1.2011 remains in progress and subsequent rebound on short-covering would yield consolidation before prospect of another fall later, below 1.1613 would extend to 1.1580/90, however, loss of momentum would keep price above 1.1560/64 and yield correction.

On the upside, only above 1.1718 would indicate a temporary bottom has been made and risk stronger retracement to 1.1767 before prospect of another retreat.

Data to be released today :
Japan leading indicator, coincident index.
And U.S. Dallas Fed manufacturing index 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 Sept 29: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 29 Sept 2020 03:30GMT

EUR/USD - 1.1673
Despite the single currency's fall to a near 2-month bottom at 1.1613 on Friday due usd's continued strength, subsequent strong rebound to 1.1679 suggests decline from September's 2-year peak at 1.2011 has made a temporary low there and consolidation with upside bias for gain to 1.1684/87, above would extend to 1.1718/21 before prospect of retreat later this week.

On the downside, only below 1.1643 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 1.1613.

Pay attention to the release of EU business climate, economic sentiment and consumer sentiment at 09:00GMT. Street forecasts are -1.38, 89.5 and -13.9 vs previous readings of -1.33, 87.7 and -13.9 respectively.

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 Sept 30: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1746
Despite the single currency's fall to a near 2-month bottom at 1.1613 on Friday due usd's continued strength, subsequent strong rebound to 1.1745 yesterday suggests decline from September's 2-year peak at 1.2011 has made a temporary low there and consolidation with upside bias for gain to 1.1684/87, above would extend to 1.1774/75 before prospect of retreat later this week.

On the downside, only below 1.1679 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 1.1640/43.

Pay attention to the release of Germany retail sales mm and yy at 06:00GMT. Street forecasts are 0.5% and 4.2% vs previous readings of 4.2% and -20.4%. There are a number of ECB policymakers due to speak today, with President Lagarde scheduled to speak at the ECB and its Watchers Conference in Frankfurt at 07:20GMT.

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 Oct 05: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 05 Oct 2020 03:30GMT

EUR/USD - 1.1725
Despite euro's resumption of upmove from September's 8-week low at 1.1613 to 1.1769 on Thursday, subsequent retreat to 1.1697 Friday suggests temporary top is made and consolidation would be seen before prospect of another fall to 1.1662/66, break needed to head towards 1.1643.

On the upside, only above 1.1769 risks another rise to 1.1790/95 but 1.1812 should remain intact.

On the data front, there will be a slew of manufacturing PMI data released from the euro zone later today, as well as EU's Sentix index and retail sales. Traders should pay attention to Germany and EU's PMIs with street forecasts at 49.1 and 47.6 respectively versus previous readings of 49.1 and 47.6.

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 Oct 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 06 Oct 2020 03:30GMT

EUR/USD - 1.1790
Euro's yesterday's rise above last Thursday's 1.1769 high to 1.1797 in New York suggests recent upmove from September's 8-week trough at 1.1613 to retrace decline from 2020 2-year peak at 1.2011 has resumed and further gain to 1.1830/40 would be seen after consolidation, however, overbought condition should cap price below 1.1870/71.

On the downside, only below 1.1742 indicates temporary top is made and risks 1.1721, then 1.1697/00.

Data to be released on Tuesday :
New Zealand NZIER confidence, GDT price index, Australia AIG construction index, ANZ job advertisements, trade balance, imports, exports, RBA interest rate decision.
UK BRC retail sales, Markit construction PMI, China market holiday, Germany industrial orders.
U.S. trade balance, redbook, JOLTS job openings, and Canada trade balance, exports, imports.

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 Oct 07: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1733
Despite euro's resumption of upmove from September's 8-week low at 1.1613 to a 2-week high of 1.1807 at NY open yesterday, subsequent selloff to 1.1731 in Australia today on active safe-haven usd buying suggests temporary top is made and weakness to 1.1685 would be seen after consolidation but 1.1662/66 may hold.

On the upside, only above 1.1765/70 may risk re-test of 1.1807, break, 1.1827/32 later.

Data to be released on Wednesday :
Australia AIG services index, China market holiday, Japan coincident index, leading indicator.
Germany industrial output, France current account, trade balance, imports, exports, UK Halifax house price index, labour productivity, Italy retail sales.
U.S. MBA mortgage applications, 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 Oct 08: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1766
Despite euro's resumption of upmove from September's 8-week bottom at 1.1613 to 1.1807 on Tuesday, subsequent fall to 1.1726 in Asia yesterday suggests temporary top is made and Wednesday's strong rebound to 1.1782 in New York on usd's weakness would bring choppy sideways swings, above 1.1797 needed to head to 1.1807, break, 1.1827/30.

On the downside, only below 1.1720/26 would risk weakness to 1.1697/00 but 1.1685 may hold.

On the calendar front, Germany will release exports, imports, trade balance and current account at 06:00 GMT. We have also have a couple of ECB officials due to speak in European session and ECB monetary policy meeting account scheduled at 11:30. Please refer to our EI page for more 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 Oct 09: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.1760
Despite euro's resumption of upmove from September's 8-week low at 1.1613 to 1.1807 on Tuesday, subsequent fall to 1.1726 Wednesday suggests temporary top made and yesterday's rebound to 1.1781, then retreat o 1.1734 would bring choppy sideways swings.

Only above 1.1797 would bring re-test of 1.1807, break, 1.1827/30 later while below 1.1721/26, 1.1697/00.

On the data front, France will release industrial output at 06:45 GMT, followed by Italy industrial output at 08:00 GMT.

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 Oct 12: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 12 Oct 2020 03:30GMT

EUR/USD - 1.1818
Euro's rally on Friday and then break of last Tuesday's 1.1807 high to a 17-day top of 1.1831 near New York close suggests recent upmove from September's 1.1613 bottom to retrace decline from September's 27-month 1.2011 peak has resumed and consolidation would be seen before heading to 1.1896/00 but 1.1917 should hold due to overbought condition.

On the downside, only below 1.1781/82 indicates temporary top made and risks retracement to 1.1734/39.

Data to be released today :
Japan corporate goods price index, machinery orders.
U.S. market holiday, 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