AceTraderFx : Daily Recommendations on Majors

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

Attached Image

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

EUR/USD - 1.1815
Yesterday's anticipated weakness to 1.1803 suggests euro's recent upmove from August's 9-1/2 month bottom at 1.1664 has formed a temporary top last Friday at 1.1908 and strong retracement of said move is envisaged, however, a daily close below 1.1757 (61.8% r) needed to signal correction is over and yield further weakness next week.

Only a firm break above 1.1856 (ECB's hawkish hold perhaps) signals pullback has ended, then risk would shift to the upside for re-test of 1.1908.

Data to be released on Thursday:
New Zealand manufacturing sales.
U.K. RICS housing price balance, China PPI, CPI, Germany exports, imports, trade balance, EU ECB refinancing rate, deposit rate.
U.S. initial jobless claims and continuing jobless claims.

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 Sept 09: Daily Recommendations on Major –USD/JPY

Attached Image

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

USD/JPY - 109.91
Dollar's intra-day decline due to active safe-haven yen buying on continued weakness in global stocks suggests recent erratic rise has made a temporary top at Wednesday's 3-1/2 week peak at 110.44 and below 109.60 sup would bring further weakness towards 109.42, however, reckon 109.12 should remain intact.

On a daily close above 110.15 signals pullback is over, outlook would improve for re-test of 110.44, then gain towards August's peak at 110.79 later next week.

U.S. will later release weekly jobless claims and continued jobless claims.
Last but not least, we have an army of Fed officials (8 in total!) scheduled to speak ahead of next week's blackout ahead of September 21-22 FOMC meeting, please refer to our EI 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 Sept 10: Daily Recommendations on Major -EUR/USD

Attached Image

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

EUR/USD - 1.1825
Despite euro's retreat from 1.1841 to 1.1806 yesterday's after ECB said it will slow its bond buying operation, subsequent recovery suggests further sideways swings above this week's 1.1803 low (Wednesday) would continue, as long as 1.1856 (Monday' low, now res) holds, decline from last Friday's 1-month peak at 1.1908 would pressure price lower, however, loss of downward momentum should keep euro above 1.1757 (61.8% r of 1.1664-1.1908).

Only a daily close above 1.1856 signals pullback is possibly ended and risks gain to 1.1884/86, break would yield re-test of 1.1908 next week.

Data to be released on Friday :
New Zealand retail sales.
Germany CPI, HICP, U.K. GDP, industrial output, manufacturing output, construction output, trade balance, NISER GDP estimate, France industrial output, Italy industrial output.
U.S. PPI, wholesale inventories, wholesale sales, Canada capacity utilization, employment change and unemployment rate.

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 Sept 10: Daily Recommendations on Major –USD/JPY

Attached Image

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

USD/JPY - 109.88
Yesterday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying suggests recent erratic rise from 109.12 has made a top at Wednesday's 3-1/2 week peak of 110.44 and consolidation with downside bias is seen for weakness to 109.42, however, reckon 109.12 should remain intact.

Only above 110.15 indicates pullback is over, then risk is seen for subsequent re-test of 110.44 later next week.

T.G.I.F. after a roller-coaster week (dlr rose on Mon from 109.63 to 110.44 yesterday and only to fall back to exactly where it started !), U.S. will later release a slew of eco. data, please refer to our EI page for details n pay attention to PPI n core PPI at 12:30GMT.
We also have Cleveland Fed President Mester speaking at 13:00GMT.

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

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

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 13 Sept 2021 03:00GMT

EUR/USD - 1.1809
Euro's retreat from 1.1850 (Europe) to 1.1810 near New York close Friday on renewed usd's strength due to risk-off sentiment and intra-day break there suggests recovery from last week's 1.1803 low has ended and decllne from September's 1-month high at 1.1908 would resume, however, loss of downward momentum is likely to keep price well above 1.1757 and bring correction.

Only a daily close above 1.1850 dampens bearishness on euro but break of 1.1884/86 res needed to yield re-test of 1.1908 later this week.

The only eco. data due out today is Germany's wholesale price index. ECB board member Panetta will participate in G20 Finance and Central Bank Deputies' meeting n ECB's Schnabel will speak at a conference at 09:00GMT.

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

AceTraderFx Sept 13: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 13 Sept 2021 09:30GMT

USD/JPY - 110.12
Despite last Thursday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying, subsequent rebound to 109.99 Friday and intra-day break above there suggests the pullback from Wednesday's peak at 110.44 has ended there and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove from 109.12 towards 110.70/80.

On the downside, only below 109.80 would indicate a temporary top has been made instead and risk weakness towards 109.63 later this week.

Data to be released today:
New Zealand food price index, Japan corporate goods price.
Germany wholesale price index.
U.S. Federal budget 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 Sept 14: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 14 Sept 2021 03:00GMT

EUR/USD - 1.1811
Despite Monday's anticipated resumption of recent decline from September's 1-month peak at 1.1908 to a 2-week trough of 1.1771 ahead of New York open, subsequent rebound in New York morning to 1.1817 on broad-based usd's retreat due to falling U.S. Treasury yields suggests said fall has made a temporary low and consolidation is in store.

As long as res at 1.1850 (Friday high) holds, downside bias remains for another decline but reckon 1.1735 would contain weakness. A daily close above 1.0850 signals pullback from 1.1908 has possibly ended and risk would shift to upside for gain to 1.1884/86, then re-test of 1.1908 later this week.

Data to be released on Tuesday:
New Zealand Westpac consumer survey, Australia NAB business conditions, NAB business confidence, house price index, Japan industrial output, capacity utilization.
U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price.
Canada leading index, manufacturing sales, U.S. CPI and redbook retail 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 Sept 14: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 14 Sept 2021 09:30GMT

USD/JPY - 110.03
Despite last Thursday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying, subsequent rebound to 109.99 Friday and intra-day break above there suggests the pullback from Wednesday's peak at 110.44 has ended there and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove from 109.12 towards 110.70/80.

On the downside, only below 109.80 would indicate a temporary top has been made instead and risk weakness towards 109.63 later this week.

Market is awaiting the most important U.S. eco. data at 12:30GMT today, the CPI, pay attention to y/y number for Aug, estimate is 5.3% vs prev. reading of 5.4%, a higher-than-expected figure to raise expectation of Fed's tapering at next FOMC meeting on Sep 21-22 meeting n would send usd higher across the board n the flip side may happen if actual reading is lower then 5.0%.

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 Sept 15: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 15 Sept 2021 03:00GMT

EUR/USD - 1.1802
Euro's intra-day decline from 1.1845 to 1.1800 in hectic New York trading on Tuesday suggests recovery from 1.1771 (Monday) has ended and recent fall from Sep's 1-month peak at 1.1908 would resume after consolidation, loss of downward momentum would keep price above 1.1735/40.

Only above 1.1850/51 res dampens bearish outlook and may risk stronger gain toward 1.1884 before prospect of retreat later this week.

Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, tertiary industry activity, Australia consumer sentiment, China industrial output, retail sales.
Germany wholesale price index, U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, France CPI, Italy CPI, EU industrial production, labour costs.
U.S. MBA mortgage application, New Yotk Fed manufacturing, import prices, export prices, industrial production, capacity utilization, manufacturing output, NAHB housing market index and Canada CPI.

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 Sept 15: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 15 Sept 2021 09:30GMT

USD/JPY - 109.35
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

U.S. will release a slew of eco. data, please refer to our EI page for details. Pay attention to industrial production, capacity utilization n mfg output at 13:15GMT, if actual readings are weaker than forecast, then expect US yields to fall further n more yen buying vs usd, euro n sterling.

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 Sept 16: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 16 Sept 2021 03:00GMT

EUR/USD - 1.1820
Despite yesterday's sideways swings following early retreat from 1.1845 to 1.1800 on Tuesday, as this move signals recovery from Monday's 1.1771 low has possibly ended, downside bias remains, a daily close below 1.1800 would encourage for resumption of decline from September's 1.1908 peak, however, loss of downward momentum should keep price above 1.1730/35.

Only above 1.1845/51 res area dampens bearish outlook and may risk stronger gain to 1.1884/86 but only break there would yield subsequent re-test of 1.1908.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, Australia consumer inflation experience, employment change, unemployment rate, RBA Bulletin.
Italy trade balance, EU trade balance.
Canada housing starts, wholesale trade, ADP employment change, U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, retail sales and business inventories.

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 Sept 16: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 16 Sept 2021 09:30GMT

USD/JPY - 109.34
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

U.S. will release a slew of eco. data, please refer to our EI page for details n today's market focus following Tuesday's CPI is August retail sales, a stronger-than-expected number would spur usd buying.

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 Sept 17: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 17 Sept 2021 03:00GMT

EUR/USD - 1.1761
Yesterday's resumption of recent decline from September's 1.1809 peak to a 2-1/2 week trough of 1.1752 in New York after a huge upbeat beat in U.S. retail sales and rally in U.S. yields suggest said move would resume after range trading, near term loss of downward momentum would keep euro above 1.1696/00 today.

On the upside, only a daily close above 1.1800 signals temporary low is in place, then risk would shift to upside for stronger retracement to 1.1845/50 next week.

EU will release a slew of eco. data, please refer to our EI page for details.
We also have ECB board member de Cos scheduled to speak at 08:00GMT.

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

AceTraderFx Sept 17: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 17 Sept 2021 09:30GMT

USD/JPY - 109.93
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

Data to be released on Friday:
New Zealand manufacturing PMI.
U.K. retail sales, EU current account, construction output, HICP.
U.S. University of Michigan sentiment.

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 Sept 20: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 20 Sept 2021 03:00GMT

EUR/USD - 1.1727
Euro's selloff to a 3-1/2 week low of 1.1725 in New York on Friday due to continued usd's strength on rising U.S. yields suggests early correction from August's 9-1/2 month bottom at 1.1664 has ended and re-test of this key support in envisaged later this week, today, reckon downside is limited to 1.1690/00.

On the upside, only a daily close above 1.1788 (Friday high) signals temporary rough is in place but reckon 1.1810/20 would cap upside.

On the data front, we have German producer prices n German Bundesbank monthly report.

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 Sept 20: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 20 Sept 2021 09:30GMT

USD/JPY - 109.71
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

Data to be released later:
New Zealand Westpac consumer survey, Japan market holiday, China market holiday.
U.K. Rightmove house price , Germany producer prices.
U.S. NAHB housing market 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 Sept 21: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 21 Sept 2021 03:00GMT

EUR/USD - 1.1729
Although euro's rebound from Monday's near 4-week low at 1.1701 to 1.1736 on short covering suggests recent decline has made a temporary bottom, as long as 1.1752 (previous sup, now res) holds, downside bias remains for marginal weakness, loss of downward momentum would keep price above 2021 bottom at 1.1664.

Only a daily close above 1.1752 would risk stronger retracement to 1.1788 but 1.1800 should cap upside.

Data to be released on Tuesday :
New Zealand Westpac consumer confidence, New Zealand GDT price, China market holiday.
U.K. PSNB, PSNCR, Swiss trade balance, exports, imports, U.K. CBI trends orders.
U.S. current account, building permits, hosing starts, redbook, Canada new housing price inde.

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 Sept 21: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 21 Sept 2021 09:30GMT

USD/JPY - 109.64
Although dollar's intra-day rebound after yesterday's selloff from 110.03 to 109.33 in tandem with U.S. yields and active safe-haven buying in jpy suggests choppy trading above last week's bottom at 109.12 would continue, as long as 109.82 holds, daily bearishness remains and below 109.12 would extend recent decline towards support at 108.73.

On the upside, only above Friday's high at 110.07 would risk stronger retracement to 110.25/30 but resistance at 110.44 should remain intact.

The Fed starts its 2-day FOMC meeting today and on the data front, we have current account, building permits n housing starts. Traders will continue to take cue from global stock performance n 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 Sept 23: Daily Recommendations on Major -EUR/USD

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 23 Sept 2021 03:00GMT

EUR/USD - 1.1688
Euro's intra-day selloff from 1.1755 to 1.1685 in post-FOMC New York after Fed's hawkish tilt suggests re-test of August's 9-1/2 month bottom at 1.1664 would be seen after consolidation, however, reckon daily sup at 1.1603 should hold from here and bring minor correction on Friday.

On the upside, only above 1.1755 confirms temporary low is in place and heads back towards 1.1788 but reckon 1.1800 should cap upside.

Data to be released on Thursday:
Australia manufacturing PMI, services PMI, Japan market holiday.
France Markit manufacturing PMI, Markit services PMI, Swiss SNB rate decision, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI, BoE interest rate decision, asset purchase program, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPV vote cut.
U.S. initial jobless claims, continuing jobless claims, Markit manufacturing PMI, Markit services PMI, Leading index change, KC Fed manufacturing and Canada retail 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 Sept 23: Daily Recommendations on Major –USD/JPY

Attached Image

DAILY MARKET OUTLOOK on Major
Update Time: 23 Sept 2021 09:30GMT

USD/JPY - 109.91
Yesterday's rally from 109.13 (Asia) to 109.89 after Fed's hawkish tilt, then intra-day cross-inspired break above there suggests re-test of 110.07 would be seen, break signals correction from September's 110.44 peak has ended and yields further gain to 110.15.

Only below 109.60/64 'prolongs' broad sideways swings and may yield weakness to 109.42, break, 109.12/13 later.

U.S. will later release a slew of eco. data, please refer to our EI page for details. Pay attention to weekly jobless claims, continued jobless claims, then Markit services n mfg PMIs, a better-than-expected reading will spur more usd buying.

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