AceTraderFx : Daily Recommendations on Majors

AceTraderFx Dec 23: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.3331
Euro's erratic rise from this week's low at 1.2235 (Mon) to 1.1342 yesterday suggests recent daily wild swings are likely to continue possibly until end of next week as price continues to gyrate inside 1.1187-1.1382 broad range.

As long as last week's high at 1.1360 holds, prospect of another retreat remains, below 1.1300 would add credence to this view and head back towards 1.1261. A daily close above 1.1360 would risk re-test of 1.1382.

Data to be released on Thursday :
Japan coincident index, leading indicator.
Germany import prices, Italy business confidence, consumer confidence.
U.S. building permits, personal income, personal spending, core PCE price index, durable goods, durables ex-transport, durables ex-defense, initial jobless claims, continuing jobless claims, University of Michigan sentiment, new home sales, Canada GDP and average weekly earnings.

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AceTraderFx Dec 23: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 114.26
Yesterday's rally above last week's 114.26 high to a 3-week top of 114.36 (NY) suggests recent erratic upmove from 112.54 to retrace early fall from Nov's 3-year peak at 115.51 would extend further gain after consolidation, loss of upward momentum would cap price at projected res at 114.87 and yield retreat.

On the downside, only a daily close below 113.95 (previous res, now sup) signals top is made, risks retracement to 113.56/60 later.

U.S. will release a slew of eco. data, pls refer to our EI page for details. Pay particular attention to PCE price index (Fed's favourite inflation guage), durable good, jobless climas and University of Michigan consumer confidence, if readings come in better than street forecast, then usd may regain traction after weakness vs other G7 counterparts in last 2 days.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 24 Dec 2021 03:00GMT

EUR/USD - 1.1325
Euro's rise from this week's low at 1.1235 (Mon) to 1.1342 Wed and yesterday's choppy sideways swings suggests further volatile trading inside recent 1.1382-1.1223 range would continue, as long as last week's high at 1.1360 (Thur) holds, downside bias remains, below 1.1291 (NY low) would head back to 1.1261/64 but reckon 1.1235 would remain intact.

A firm break of 1.1360 would shift risk to upside for re-test of Nov's peak at 1.1382.

No economic data is due out on this Christmas Eve, Germany and other European centres are closed.

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AceTraderFx Dec 24:


AceTraderFx Dec 24: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 24 Dec 2021 09:30GMT

USD/JPY - 114.37
Dollar corss-inspired rise to a fresh 3-week high of 114.51 (Asia) today suggests correction from Nov's 3-year peak at 115.51 has ended earlier at 112.54 and upside bias remains for marginal gain, loss of near term upward momentum should cap price below 115.00 handle today.

On the downside, only below 114.08 (Thur low) signals temporary top is in place and risks stronger retracement to 113.95/96, then 113.76 next week.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 28 Dec 2021 03:00GMT

EUR/USD - 1.1330
Despite euro's relatively narrow swings in holiday-thin Monday's session, as last week's rise from 1.1235 (Mon) to 1.1343 and subsequent retreat to 1.1304 suggests price remains confined inside recent 1.1187-1.1382 broad range, possibly for rest of this holiday-abbreviated week, reckon 1.1360 should cap upside and yield decline, below 1.1291 would pressure price back towards 1.1261.

Only above said pivotal res at 1.1360 aborts recent bearish outlook and risks re-test of 1.1382.

Data to be released on Tuesday :
New Zealand Market Holiday, Australia Market Holiday, Japan unemployment rate, industrial production.
U.K. Market Holiday.
Canada Market Holiday, U.S. redbook, monthly home price and Richmond Fed manufacturing.

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

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

USD/JPY - 114.80
Dollar's resumption of recent upmove to a 4-week high of 114.94 today due to broad-based yen selling on continued risk-on sentiment suggests early correction from Nov's 3-year peak at 115.51 has ended, however, loss of upward momentum would limit upside to 115.15/20 and risk has increased for a minor retracement later this week.

Only a daily close below 114.51 (last week's top, now sup) suggests temporary high is in place and may yield weakness to 114.31/32 before rebound.

U.S. will later release redbook retail sales, monthly home price n Richmond Fed mfg index. Market focus is on U.S. stocks as Monday's rise in the S&P 500 to an all time high boosted risk appetite n triggered broad-based usd and yen selling.

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AceTraderFx Dec 29: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 29 Dec 2021 03:00GMT

EUR/USD - 1.1315
Despite last week's rise from 1.1235 to 1.1343 (Friday), euro's retreat to 1.1290 in New York yesterday suggests the daily wild swings inside recent broad range of 1.1187-1.1382 would continue this week, as long as 1.1343 holds, downside bias remains, below 1.1261 would yield weakness toward 1.1223 later.

On the upside, only above 1.1343 risks gain towards pivotal res at 1.1360 where a break there yields re-test of 1.1382

Data to be released on Wednesday :
Swiss investor sentiment, U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales.

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AceTraderFx Dec 29: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 29 Dec 2021 09:30GMT

USD/JPY - 1114.98
Although dollar's present break of Tue's fresh 1-month top at 114.94 suggests early correction from Nov's 3-year peak at 115.51 has ended and recent cross-inspired upmove would yield marginal gain, loss of near term upward momentum should cap price below 115.51 and risk has increased for a minor retracement to take place later this week.

On the downside, only a daily close below 114.72 (Tue low) signals temporary top is in place, risks weakness to 114.51, then towards 114.31.

On the data front, U.S. will release a slew of second-tier economic data, please refer to our EI page for details.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 30 Dec 2021 03:00GMT

EUR/USD - 1.1351
Euro's intra-day rally from 1.1274 (Europe) and then a brief break above last week's 1.1360 high to 1.1368 in New York due to broad-based usd's weakness suggests an upside break of the near 1-month long daily swings from 1.1382 has occurred, above there would extend upmove from Nov's 16-month bottom at 1.1187 towards 1.1434 later.

Only a daily close below 1.1334 'prolongs' choppy consolidation and yields weakness to 1.1274, then 1.1235.

No eco. data is due out from the euro area countries. Markets in Germany, France, Italy n Switzerland will closed for holiday on Fri.

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AceTraderFx Dec 30: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 115.16
Despite dollar's brief retreat to 114.68 in New York Wed on usd's broad-based weakness, subsequent strong rebound on cross-selling in yen and present firm break of Wed's fresh 1-month high at 115.03 to 115.20 suggests recent upmove would extend toward 115.51 but next projected target at 115.93 may hold.

On the downside, only below 114.51 may signal temporary top is in place and risk weakness towards 114.31, then 114.08/10.

Data to be released on Thursday :
U.K. Nationwide house price, Swiss KOF indicator. U.S. initial jobless claims, continuing jobless claims and Chicago PMI.

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

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

EUR/USD - 1.1325
Euro's intra-day choppy sideways swings on Thur and subsequent weakness to 1.1299 in New York after hitting a 4-week high of 1.1368 ( Wed) signals further volatile swings below daily 1.1382 res would continue, below 1.1290/99 would head back to 1.1274 but reckon 1.1235 should hold.

On the upside, only above 1.1368 would yield re-test of 1.1382, break extends upmove from 1.1187 (Nov) towards 1.1434 later next week.

Data to be released on Friday :
New Zealand Market Holiday, Australia Market Holiday, China NBS manufacturing PMI, NBS non-manufacturing PMI.
Germany Market Holiday, Swiss Market Holiday, Italy Market Holiday, France Market Holiday.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 03 Jan2022 03:00GMT

EUR/USD - 1.1363
Friday's marginal gain above previous daily res at 1.1382 to a 6-week high of 1.1386 in holiday-thin N. American session suggests corrective rise from Nov's 16-month bottom at 1.1187 may extend further headway after consolidation, loss of momentum is likely to cap price below 1.1434.

On the downside, a daily close below 1.1343 anytime signals top is in place and yields weakness to 1.1299/04 later.

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

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DAILY MARKET OUTLOOK on Major
Update Time: : 03 Jan2022 09:30GMT

USD/JPY - 115.29
Although dollar's rise to a fresh 1-month high of 115.20 in Europe on Thursday suggests recent upmove remains in force gain towards Nov's fresh 3-year peak at 115.51 may be seen, consolidation is in store before another rise but a firm break there is needed to head to next projected target at 115.93 next week.

On the downside, only a daily close below 114.68 indicates a temporary top is in place and risks stronger retracement towards 114.51, break, 114.31/32.

On the data front, U.S. will later release Markit mfg PMI and then construction spending.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 04 Jan 2022 03:00GMT

EUR/USD - 1.1305
Despite euro's rally to a 6-week high of 1.1386 last Fri, yesterday's selloff to 1.1280 in New York on broad-based usd's strength due to rally in U.S. yields suggests upmove from Nov's 16-month trough at 1.1187 has made a top there and below last week's 1.1274 bottom (Wed) would yield stronger retracement towards 1.1235.

On the upside, only a daily close above 1.1336 dampens present bearish view on euro and may risk gain to 1.1366, break, 1.1386.

Data to be released on Tuesday:
New Zealand Market Holiday, GDT price index, Australia AIG services, manufacturing PMI.
U.K. BRC shop price index, Markit manufacturing PMI, Japan Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, unemployment change, unemployment rate, Swiss CPI, France CPI.
Canada producer prices, Markit manufacturing PMI, U.S. redbook, ISM manufacturing PMI and JOLTS job openings.

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

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DAILY MARKET OUTLOOK on Major
Update Time: : 04 Jan2022 09:30GMT

USD/JPY - 115.78
The greenback's intra-day rally on broad-based selling in jpy and break above November's 3-year peak at 115.51 signals Medium Term uptrend has once again resumed and consolidation with upside bias remains for further gain to 116.20/30, however, overbought condition would keep price below 116.50/60 and bring a much-needed correction later this week.

On the downside, only below 114.96 would indicate a temporary top has been made and risk stronger retracement to 114.60/70.

On the data front, U.S. will later release redbook sales, ISM mfg index n JOLTS job openings.

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AceTraderFx Jan 05: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 05 Jan 2022 03:00GMT

EUR/USD - 1.1284
Euro's selloff from Fri's 6-week high of 1.1386 to 1.1280 (Mon), then yesterday's weakness to 1.1273 suggests correction from Nov's 16-month trough at 1.1187 has ended and despite bouncing to 1.1322 in New York on broad-based weakness in usd, subsequent retreat signals bearishness is retained but 1.1223 may contained downside.

Only a daily close above 1.1322 dampens present bearish view on euro and may risk gain to 1.1350/60, break, 1.1386.

Data to be released on Wednesday:
Japan consumer confidence, France consumer confidence, Markit Services PMI, Italy Markit Services PMI, CPI, Germany Markit Services PMI, EU Markit Services PMI, U.S. MBA mortgage application, ADP employment change, Markit Services PMI, Canada building permits and new housing price index.

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AceTraderFx Jan 05: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 05 Jan 2022 09:20GMT

USD/JPY - 115.97
Although dollar's retreat after yesterday's rally to a 5-year top at 116.34 on broad-based yen selling signals recent upmove has made a temporary top there and consolidation is in store, as long as 115.81 holds, upside bias remains for gain towards 116.70 but overbought condition would keep price below 116.86 and bring a much-needed correction later this week.

On the downside, only below 115.81 would indicate a temporary top has been made and risk stronger retracement twd 115.51.

U.S. will release MBA mortgage applications, ADP private payrolls n Markit services PMI, then later, FOMC minutes.

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AceTraderFx Jan 06: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 06 Jan 2022 03:00GMT

EUR/USD - 1.1310
Euro's early decline from last Fri's 6-week peak at 1.1386 to 1.1273 this week (Tue) suggests corrective rise from Nov's 16-month bottom at 1.1187 has possibly ended there and despite staging a short-covering rally to 1.1346 yesterday, subsequent retreat after hawkish Fed minutes has retained bearishness, below 1.1273 would encourage for weakness towards 1.1223.

Only a daily close above 1.1346 shifts risk to upside for a possible re-test of 1.1386 later.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details n pay attention to German industrial order.
ECB board member Schnabel will speak before the German parliament at 14:00GMT.

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AceTraderFx Jan 06: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 06 Jan2022 09:30GMT

USD/JPY - 115.87
Although dollar's retreat after Tuesday's rally to a 5-year top at 116.34 on broad-based yen selling signals range trading would be in store before MT uptrend resumes and above 116.34 would head towards daily objective at 116.50, reckon loss of momentum would keep price below 116.80/90 and bring a much-needed correction later.

On the downside, only a daily close below 115.51 would indicate a temporary top has been made and risk stronger retracement to 115.20/25.

Data to be released on Thursday :
Australia Services PMI, Japan Services PMI, China Caixin services PMI.
Germany industrial orders CPI, U.K. Markit Services PMI, EU producer prices, Italy Market Holiday.
U.S. international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, durables ex-defense, durable goods, factory orders, durables ex-transport, ISM non-manufacturing PMI, Canada trade balance, exports and imports.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 07 Jan 2022 03:00GMT

EUR/USD - 1.1293
Euro's early decline from last Fri's 6-week peak at 1.1386 to 1.1273 (Tue) suggests correction from Nov's 16-month bottom at 1.1187 has possibly ended there, below 1.1273 would add credence to this view and head towards 1.1223.

On the upside, only a daily close above 1.1346 shifts risk to upside for a possible re-test of 1.1386 next week.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details, pay attention to EU's retail sales, eco. n consumer sentiment indices at 10:00GMT.

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