AceTraderFx : Daily Recommendations on Majors

AceTraderFx May 28: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 28 May 2021 09:30GMT

USD/JPY - 109.86
The greenback's rally yesterday in tandem with U.S. Treasury yields and break above previous May's 1-month peak at 109.78 to 109.95 today suggests erratic upmove from April's bottom at 107.49 has once again resumed and further gain to 110.25/30 would be seen after consolidation, however, over bought condition would keep price below 110.50/60 and yield a much-needed correction early next week.

On the downside, only below 109.33 would indicate a temporary top has been made and risk stronger retracement to 108.90/00 before prospect of a rebound.

Data to be released on Friday:
Japan Tokyo CPI, unemployment rate, construction orders.
Germany import prices, France consumer spending, GDP, CPI, producer prices, Swiss KOF indicators, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. personal income, personal spending, PCE price, trade balance, wholesale inventories, Chicago PMI, University of Michigan sentiment, 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 update

AceTraderFx May 31: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2021 03:00GMT

EUR/USD - 1.2194
Despite euro's resumption of decline from last Tuesday's 4-1/2 month peak of 1.2266 to a near 2-week trough of 1.2133 Friday, subsequent strong bounce in New York due to broad-based usd's weakness on falling U.S. yields suggests 1st leg of correction over and 1-2 days of sideways swings are in store.

Expect intra-day recovery to falter below 1.2245 and yield retreat but below 1.2133 needed to extend said fall to 1.2104/07.

On the data front, we have some inflation data from the euro area countries, Italy will kick off with CPI and then we have Germany's CPI n HICP. London market is closed for Spring Bank Holiday.

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 update

AceTraderFx May 31: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2021 09:30GMT

USD/JPY - 109.69
Dollar's erratic rise from April's 107.49 low to a 6-week high at 110.20 on Friday suggests decline from March's 1-year 110.96 peak has made a temporary bottom and subsequent retreat would bring choppy sideways swings before prospect of another rise to 110.50/55 but 110.96 should hold today.

On the downside, only below 109.30/33 risks retracement to 109.04 (Thursday's low), break, 108.71/76.

Data to be released today:
Australia market holiday, Japan industrial order, industrial output, retail sales, consumer confidence, housing starts, China NBS manufacturing PMI, New Zealand NBNZ business outlook, NBNZ outlook activity.
UK market holiday, Italy CPI, Germany CPI, HICP.
Canada current account, producer prices and U.S. 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 update

AceTraderFx Jun 01: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2021 03:00GMT

EUR/USD - 1.2228
Although euro's strong rebound from 1.2133 (Friday) to 1.2231 yesterday suggests 1st leg of correction from May's 4-1/2 month peak at 1.2266 has ended, near term overbought condition would prevent strong gain and yield retreat, below 1.2184 needed to head back towards 1.2231.

Only above 1.2266 extends recent upmove to 1.2280/90 before prospect of a correction later this week.

Today is PMI day in the euro area countries, please refer to our EI page for details of a slew of eco. data.
Pay attention to German n EU's mfg PMIs, if actual readings come in stronger than street forecast, the euro will head north.

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 update

AceTraderFx Jun 01: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2021 09:30GMT

USD/JPY - 109.60
Dollar's erratic rise from April's 107.49 low to a 6-week high at 110.20 on Friday suggests decline from March's 1-year 110.96 peak has made a temporary bottom and subsequent retreat would bring choppy sideways swings before prospect of another rise to 110.50/55 but 110.96 should hold today.

On the downside, only below 109.30/33 risks retracement to 109.04 (Thursday's low), break, 108.71/76.

Data to be released on Tuesday :
UK nationwide house price, Markit manufacturing PMI, Swiss retail sales, GDP, manufacturing PMI, Italy Markit manufacturing PMI, unemployment rate, GDP, France Markit manufacturing PMI, Germany Markit manufacturing PMI, unemployment change, unemployment rate, EU Markit manufacturing PMI, HICP, core HICP.
Canada GDP, Markit manufacturing PMI, and U.S. Markit manufacturing PMI, construction spending, ISM manufacturing PMI, Dallas Fed manufacturing business index on Tuesday.

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 update

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2021 03:00GMT

EUR/USD - 1.2222
Despite euro's strong rise from last week's low of 1.2133 (Friday) to 1.2254 in New York morning yesterday, subsequent retreat to 1.2212 due to broad-based rebound in the greenback suggests further volatile trading below May's 4-1/2 month peak at 1.2266 would continue with downside bias, below 1.2204 would add credence to this view but 1.2133 should remain intact.

Only above 1.2254 aborts bearish view and risks re-test of 1.2266, however, loss of upward momentum would cap price below 1.2300 today and yield correction.

Data to be released on Wednesday :
New Zealand terms of trade, import prices, export prices.
UK BRC shop price index, Australia GDP, Italy market holiday, Germany retail sales, France budget balance, EU producer prices.
U.S. MBA mortgage applications, redbook, and Canada building permits.

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 update

AceTraderFx Jun 02: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2021 09:30GMT

USD/JPY - 109.80
Despite the greenback's fall to 109.34 yesterday, intra-day strong rebound suggests the pullback from last Friday's 6-week peak at 110.20 has ended there and consolidation with upside bias remains, above 109.92 would confirm this view and yield re-test of aforesaid resistance, break would extend erratic umove from 107.49 (April) to 110.55 before prospect of a retreat due to loss of momentum.

On the downside, only below 109.30/34 would indicate a temporary top has been made and risk stronger retracement to 108.70/80.

U.S. will release 2nd-tier mortgage application data and later Fed's beige book, however, a have a total of 5 Fed official scheduled to speak in New York session which may move the greenback a bit, please refer to our Economic Indicator page 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 update

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 03 Jun 2021 03:00GMT

EUR/USD - 1.2210
Although euro's decline from 1.2254 (Tuesday) to 1.2165 yesterday suggests further choppy trading below May's 4-1/2 month peak at 1.2266 would continue, subsequent rebound due to falling U.S. yields signals volatile swings inside recent 1.2266-1.2133 range would be seen before a possible breakout occurs after Friday's release of key U.S. jobs data.

As long as 1.2254 holds, downside bias remains but only below 1.2165 would head back towards 1.2133 whilst above 1.2254 risks re-test of 1.2266, break extends recent upmove to 1.2290/00 later.

Data to be released on Thursday :
Australia AIG construction index, services PMI, retail sales, trade balance, imports, exports, Japan services PMI, China Caixin services PMI.
Germany market holiday, Markit services PMI, Swiss market holiday, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, UK Markit services PMI.
U.S. ADP employment change, initial jobless claims, continued jobless claims, labor costs, productivity, Markit services PMI, ISM non-manufacturing 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 update

AceTraderFx Jun 03: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 03 Jun 2021 09:30GMT

USD/JPY - 109.79
As dollar has risen after pullback from yesterday's high at 109.88 to 109.53 in New York, suggesting re-test of May's 6-week high at 110.20 would be seen after consolidation, break would extend upmove from Aprils 107.49 trough to 110.50/55 before prospect of retreat.

On the downside, only below 109.30/33 risks weakness to 109.00/04, then 108.57/62 later.

On the data front, we have a slew of U.S. eco. indicators, please refer to our EI page for details n pay attention to ADP private payrolls, weekly initial jobless claims, continued jobless claims, ISM non-mfg index, we also have a number of Fed officials scheduled to speak later today.

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 update

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jun 2021 03:00GMT

EUR/USD - 1.2123
Euro's intra-day selloff in New York session Thur on the back of jump in U.S. yields after robust U.S. ADP payrolls and then break of last week's 1.2133 low to 1.2119 confirms decline from May's fresh 4-1/2 month peak at 1.2266 has once again resumed, oversold condition is expected to keep price above 1.2052 sup and bring recovery later.

On the upside, only a daily close above 1.2165 (Wed low, now res) signals 1st leg of correction is over and may risk stronger gain to 1.2208/18.

Data to be released on Friday :
Japan all household spending, UK Markit construction PMI, EU retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, durables ex-defense, durable goods, durables ex-transport, factory orders.
Canada employment change, unemployment rate, labor productivity rate, 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 update

AceTraderFx Jun 04: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 04 Jun 2021 09:30GMT

USD/JPY - 110.17
The greenback's rally yesterday on the release of robust U.S. ADP data and break above May's peak at 110.20 to a near 2-month top at 110.33 today suggests erratic upmove from April's bottom at 107.49 remains in progress and further gain to 110.50/55 would be seen after consolidation, however, loss of momentum would keep price below daily resistance at 110.96.

On the downside, only below 109.53 would indicate a temporary top has been made and risk stronger retracement to 109.30/35.

T.G.I.F., however, all eyes are on U.S. May jobs report, ave. earnings at 12:30GMT and then durable goods n factory orders at 14:00GMT.
Before that, at 11:00GMT, Fed Chair J. Powell will participate in panel before virtual Bank for International Settlements "Green Swan Conference - Coordinating Finance on Climate,".

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 update

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 07Jun 2021 03:00GMT

EUR/USD - 1.4171
Despite resumption of recent erratic fall from May's high at 1.2266 to a near 3-week low at 1.2105 (Europe) on Friday, intra-day jump to 1.2185 after U.S. payrolls missed market forecast strongly suggests pullback has ended and consolidation with upside bias is seen, above 1.2208/18 res area would encourage for gain towards 1.2266 later this week.

Only a daily close below 1.2133 aborts bullish view and risks re-test of 1.2105, however, 'loss of downward momentum' should keep price above 1.2052.

Thee only economic data due out today is Germany's industrial oders. We also have ECB members Holzmann n Jochnick scheduled to speak at 08:00GMT n 12:30GMT 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 update

AceTraderFx Jun 07: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2021 09:30GMT

USD/JPY - 109.46
Despite the greenback's brief rise to a fresh 2-month peak at 110.33 in Asia on Friday, subsequent selloff in New York on downbeat U.S. NFP data suggests recent erratic upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 109.04, however, near term loss of momentum would keep price above support at 108.57 and yield rebound later.

On the upside, only above 110.15 would indicate aforesaid pullback has ended and bring re-test of said resistance.

Data to be released later today :
Swiss unemployment rate, CPI, Germany industrial orders, UK Halifax house prices, and EU Sentix 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 update

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2021 03:00GMT

EUR/USD - 1.2185
Euro's rally from 1.2105 to 1.2185 on Friday, then yesterday's gain to 1.2201 (New York) strongly suggests early correction from May's 4-1/2 month peak at 1.2266 has ended, intra-day retreat would bring consolidation before prospect of further gain, however, loss of upward momentum would cap price below last week's high at 1.2254.

On the downside, only a daily close below Mon's 1.2145 low aborts bullish view and may risk weakness towards 1.2105.

Data to be released on Tuesday :
Japan current account, trade balance, GDP deflator, GDP, Economy Watchers outlook, Economy Watchers current, Australia NAB business conditions, NAB business confidence.
UK BRC retail sales, Germany industrial output, ZEW economic sentiment, ZEW current conditions, France current account, trade balance, imports, exports, Italy retail sales, EU employment change, GDP, ZEW survey expectations.
Canada leading index, trade balance, exports, imports, and U.S. trade balance, redbook, JOLTS job openings.

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 update

AceTraderFx Jun 08: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2021 09:30GMT

USD/JPY - 109.50
Despite the greenback's brief rise to a fresh 2-month peak at 110.33 in Asia on Friday, subsequent selloff in New York on downbeat U.S. NFP data suggests recent erratic upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 109.04, however, near term loss of momentum would keep price above support at 108.57 and yield rebound later.

On the upside, only above 110.15 would indicate aforesaid pullback has ended and bring re-test of said resistance.

On the data front, U.S. will release international trade balance, goods trade balance, redbook sales and JOLTS job openings, these data are not expected to have any impact on intra-day price swings, so traders will take cue from movement in U.S. yields in NY session.

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 update

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jun 2021 03:00GMT

EUR/USD - 1.2176
Despite yesterday's sideways move following early rally from last Friday's near 3-week trough at 1.2105 to 1.2201 (Monday), as this move signals correction from May's 4-1/2 month peak at 1.2266 has possibly ended, a daily close above 1.2201 would encourage for gain towards 1.2266 later this week.

Only a firm break of 1.2145 aborts bullish outlook and may risk re-test of 1.2105.

Data to be released on Wednesday :
New Zealand manufacturing sales, Australia consumer sentiment, China PPI, CPI, Japan machine tool orders.
Germany exports, imports, trade balance, current account.
Canada leading index, Bank of Canada interest rate decision, and U.S. MBA mortgage applications, wholesale inventories, wholesale 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 update

AceTraderFx Jun 09: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 09 Jun 2021 09:30GMT

USD/JPY - 109.39
Despite the greenback's brief rise to a fresh 2-month peak at 110.33 on Friday, subsequent selloff to 109.20 Monday on downbeat U.S. NFP data suggests recent erratic upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 109.04, however, near term loss of momentum would keep price above support at 108.57 and yield rebound later.

On the upside, only above 110.15 would indicate aforesaid pullback has ended and bring re-test of said resistance.

U.S. will later release some second-tier eco. data, please refer to our EI page for details.
Once again, traders will take cue from intra-day movement in U.S. yields.

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 update

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jun 2021 03:00GMT

EUR/USD - 1.2178
Despite yesterday's resumption of near term upmove from 1.2105 (Friday) to 1.2218 in New York due to falling U.S. yields, intra-day sharp retreat on safe-haven usd's buying in reaction to weakness in U.S. equities suggests temporary top is made and consolidation with downside bias is seen ahead of key ECB monetary policy announcement and then release of U.S. inflation data.

Above 1.2218 would signal correction from May's 1.2266 peak has ended and gain towards there would follow whilst a daily close below 1.2145 would shift risk to downside for weakness towards 1.2105.

Data to be released on Thursday :
Australia consumer inflation expectations, Japan corporate goods price index.
UK RICS housing price balance, France non-farm payrolls, industrial output, Italy industrial output, EU ECB refinancing rate, ECB deposit rate.
U.S. core CPI, CPI, real weekly earnings, initial jobless claims, continued jobless claims, Federal budget.

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 update

AceTraderFx Jun 10: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jun 2021 09:30GMT

USD/JPY - 109.49
Despite the greenback's brief rise to a fresh 2-month peak at 110.33 on Friday, subsequent selloff to 109.20 Monday on downbeat U.S. NFP data suggests recent erratic upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 109.04, however, near term loss of momentum would keep price above support at 108.57 and yield rebound later.

On the upside, only above 110.15 would indicate aforesaid pullback has ended and bring re-test of said resistance.

On the data front, market's main focus this week is the release of U.S. inflation data, namely CPI n core CPI later today (please see our EI page for details).
Although street forecast for May annual CPI to be 4.7% vs previous reading of 4.2%, if actual figure comes in lower than estimate, then expect renewed usd's selling.
On the flip side, if it's higher, U.S. yields will jump and would push the pair higher to 110.00/10.

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 update

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 11 Jun 2021 03:00GMT

EUR/USD - 1.2177
Despite euro's intra-day brief fall from 1.2194 to 1.2144 on ECB Lagarde's dovish comments, subsequent rebound due to usd's weakness on the back of selloff in U.S. yields suggests pullback from this week's 1.2218 high has ended, a daily close above there would encourage for further headway towards May's peak at 1.2266 next week.

On the downside, only below 1.2144 prolongs this week's daily wild swings and would risk marginal weakness, loss of downward momentum should keep price above 1.2105.

The only EU eco. data due out is German wholesale price index. G7 starts its 3-day meeting in England later today, pay attention to comments by G7 officials. We also have ECB member Fernandez-Bollo speaking at an event at 12:00GMT.

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 update