AceTraderFx: Daily Market Outllook on Major -EUR/USD

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 03 May 2018 05:30 GMT

EUR/USD - 1.1968
Despite euro's knee-jerk reaction after Fed's hawkish hold in volatile New York trading on Wed, subsequent weakness to a fresh 3-1/2 month trough at 1.1938 suggests re-test of 2018 bottom at 1.1916 (January) would be seen after consolidation, loss of downward momentum should keep price above 1.1880/85.

On the upside, only a daily close above 1.2032 confirms temporary low is in place, then risk is seen for stronger retracement to 1.2056, then 1.2084.

Data to be released later :
U.K. Markit services PMI, EU HICP, core HICP, producer prices, Canada trade balance, exports, imports, and U.S. trade balance, goods trade balance, initial jobless claims, Markit services PMI, durable ex-defence, durable goods, factory orders, durable ex-transportation, ISM non-manufacturing PMI

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 May 2018 05:30 GMT

EUR/USD - 1.1933
Despite euro's resumption of recent downtrend to a 4-month trough of 1.1898 following downbeat German and EZ data, subsequent rebound in New York afternoon on usd's broad-based retreat suggests temporary low is possibly made, above 1.1978 would add credence to this view and would bring stronger retarcement to 1.2004/09.

Only below 1.1898 dampens prospect of a much-needed correction to take place, however, loss of downward momentum should keep price above 1.1955/60 today.

Pay attention to release a slew of German eco. data in European morning starting with industrial output, exports n imports, trade balance.
As euro has sold heavily after downbeat German industrial orders, pay attention to German ind. production data.

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 11 May 2018 05:30 GMT

EUR/USD - 1.1923
Yesterday's rally from 1.1843 (AUS) to as high as 1.1947 in New York morning after soft U.S. CPI data confirms euro's recent downtrend has made a temporary low at Wednesday's fresh 4-month bottom at 1.1823 as as price has risen after intra-day pullback to 1.1876, bullishness remains for gain towards 1.2000 later today or early next week.

On the downside, only below 1.1876 would prolong choppy sideways swings but reckon pivotal sup at 1.1843 should remain intact.

Although no euro area eco. data is due out today, pay attention to speech by ECB President Draghi at the 8th edition of The State of the Union organised by EUI in Florence, Italy at 13:15GMT.

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 14 May 2018 05:30 GMT

EUR/USD - 1.1962
Euro's anticipated rally to 1.1968 in New York on Friday due to broad-based profit taking in the usd confirms recent downtrend has made a temporary low at Wednesday's near 4-month trough of 1.1823 and consolidation with upside bias remains for gain towards 1.2000, however, loss of upward momentum should cap price below res at 1.2032.

On the downside, only below 1.1920/30 would bring stronger retracement of said upmove towards 1.1891 before prospect of rebound.
No eco. data is due out from the euro area countries today but there is a no. of ECB members due to speak later during the day (please refer to our EI page for details).

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[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 16 May 2018 05:30 GMT

EUR/USD - 1.1825
Euro's brief break of last week's 1.1823 low to a 4-1/2 month trough of 1.1820 in New York morning due to rising U.S. yields and mildly upbeat U.S. retail sales, then intra-day marginal weakness to 1.1817 ahead of Asian open should pressure price to 1.1765/70, loss of momentum would prevent steep fall and bring a much-needed minor correction later.

On the upside, only a daily close above 1.1875 signals temporary bottom is made and risk retracement to 1.1891, break, 1.1933/38.

Data out on Wednesday :
Japan GDP, GDP annualised, GDP deflator, industrial production, capacity utilization, China House price, Australia wage price index.
Germany CPI, HICP, Italy industrial output, industrial sales, CPI final, CPI (EU Norm) final, HICP final, core HICP.
Canada manufacturing sales, and U.S. MBA mortgage application, building permits, housing starts, industrial production, capacity utilization, manufacturing output.

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[TheForexArmy]

Could you place some charts please? It would help understand your analysis better

 

[acetraderfx]

AceTraderFx May 21: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 21 May 2018 5:30 GMT

EUR/USD - 1.1763
Despite euro's rebound from last Fri's fresh 5-1/2 month trough of 1.1750, as long as 1.1822 holds, downside bias remains for marginal weakness below said temporary low, loss of downward momentum should keep price above 1.1718 and bring correction.

On the upside, only a daily close above 1.1822 signals temporary low is made, risks stronger retracement to 1.1838, then 1.1854.

No major EZ eco. data is due out today but we have release of monthly Bundesbank monthly report and EU Financial Stability Review during European morning.

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[acetraderfx]

AceTraderFx May 24: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 24 May 2018 5:30 GMT

EUR/USD - 1.1706
Although euro's intra-day rebound from Wed's fresh 6-month trough at 1.1686 after mildly FOMC minutes suggests initial sideways swings above said temporary low would be seen, as long as 1.1750/57 holds, outlook remains bearish for one more fall, loss of downward momentum should keep price above 1.1630/40 this week.

A daily close above 1.1750 signals temporary low is in place and would bring stronger retracement to 1.1797, then towards 1.1830.

The Eurogroup is having a meeting in Brussels today and will be attended by many EU officials as well as ECB members including ECB President Draghi, pls refer to our EI page for details as well as times of speeches by them.

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[acetraderfx]

AceTraderFx May 28: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 28 May 2018 5:30 GMT

EUR/USD - 1.1688
Euro's intra-day rebound to 1.1692 after Italy's President rejected eurosceptic Savona as EconMin suggests initial choppy trading above Friday's fresh 6-month trough at 1.1646 would continue, above 1.1700/10 needed to signal temporary low is made and bring stronger retracement towards 1.1750.

On the downside, below 1.1646 would extend marginal weakness, loss of downward momentum should limit weakness to 1.1600/10 before prospect of a much-needed correction.

On the eco. data front, Italy's PPI is the only data due out at 08:00GMT.

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

 

[acetraderfx]

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 May 2018 6:30 GMT

EUR/USD - 1.1540
Yesterday's intra-day selloff from 1.1640 at European open to as low as 1.1510 due to sharp fall in German bond yields caused by Italian bond market rout suggests re-test of said Tuesday's 10-month trough at 1.1510 would be seen.
However, near term loss of downward momentum should keep price above 1.1445/48 today.

On the upside, only above 1.1589 (reaction high in New York) signals temporary low is made and risk stronger retracement to 1.1608 but reckon 1.1640 should cap upside.

On the data front (not many will be paying too much attention to them), we have German import and export prices and retail sales, then France's consumer spending and Q1 GDP, Germany's unemployment, EU's business climate, industrial sentiment, services sentiment, consumer confidence and finally Germany's CPI.]

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