AceTraderFx : Daily Recommendations on Majors

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

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DAILY MARKET OUTLOOK on Major
Update Time: 23 Feb2022 09:30GMT

USD/JPY- 115.03
Dlr's rally on Tue from 114.51 (AUS) to 115.23 in New York in tandem with US yields suggests erratic fall from Feb's 5-week peak of 116.33 has made a low and despite intra-day retreat to 114.88, subsequent bounce would bring range trading, above 115.23, 115.75/78.

Hold long for such move n only firm break of 114 .80/88 sup aborts bullishness, risks 114.51.

Data to be released on Wednesday:
Australia construction work done, wage price index, New Zealand RBNZ interest rate decision, Japan Market Holiday.
Germany Gfk consumer sentiment, France business climate, Swiss investor sentiment, EU HICP.
U.S. mortgage application and redbook.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 24 Feb 2022 03:00GMT

EUR/USD - 1.1280
Euro's selloff from 1.1358 to 1.1302 in New York Wed and intra-day break of last week's 1.1281 bottom (Monday) on broad-based usd's strength due to escalating Russia-Ukraine tension signals decline from February's near 3-month peak at 1.1495 has once again resumed and would yield weakness towards 1.1222 later but 1.1187 should hold.

On the upside, only a daily close above 1.1358/66 indicates temporary low is made, risks 1.1375/85.

Data to be released on Thursday:
Australia capital expenditure, building capex, Swiss non-farm payrolls, France consumer confidence, Italy industrial sales.
U.S. building permits, GDP, PCE price, initial jobless claims, continuing jobless claims, national activity index, average weekly earnings, new home sales and KC Fed manufacturing.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 24 Feb2022 09:30GMT

USD/JPY - 114.65
The greenback's intra-day fall on renewed escalation of tensions between Ukraine and Russia and current break below Tuesday's low at 114.51 suggests recent decline has once again resumed and further weakness towards 114.10/20 would be seen after consolidation, however, loss of momentum would keep price above 113.90/00.

On the upside, only above 114.80/90 would indicate a temporary low has been made and risk stronger retracement towards 115.15/20.

Data to be released on Thursday:
Swiss non-farm payrolls, France consumer confidence, Italy industrial sales.
U.S. building permits, GDP, PCE price, initial jobless claims, continuing jobless claims, national activity index, average weekly earnings, new home sales and KC Fed manufacturing.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 25 Feb 2022 03:00GMT

EUR/USD - 1.1196
Despite yesterday's brief break of January's 1.1122 low to a fresh 20-month trough of 1.1107 (New York) on active safe-haven USD buying after Russia's invasion of Ukraine, subsequent rally to 1.1220 on intra-day strong rebound in U.S. stocks confirms temporary low is made and choppy consolidation is in store.

Only above 1.1261 (European high) risks stronger correction to 1.1300/10 Monday whilst below 1.1122 would yield resumption of downtrend to projected target at 1.1050 next week.

Data to be released on Friday:
New Zealand retail sales, Japan Tokyo CPI, coincident index, leading indicator.
U.K. Gfk consumer confidence, Germany GDP, import prices, France consumer spending, GDP, CPI, producer prices, Italy business confidence, consumer confidence, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence.
U.S. personal income, personal spending, PCE price index, durable goods, durables ex-transport, durables ex-defense, University of Michigan sentiment pending home sales and Canada budget balance.

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AceTraderFx Feb 25: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 25 Feb2022 09:30GMT

USD/JPY - 115.30
Dollar's cross-inspired rally in tandem with U.S. yields from Thur's 2-week trough of 114.42 to as high as 115.69 (New York) suggests recent erratic fall from Feb's 116.33 peak has ended and subsequent retreat in Asia today would bring choppy swings before another rise, above 115.69 would encourage for stronger gain to 115.87, then towards 116.33 next week.

On the downside, only daily close below 115.00 dampens bullish view, risks 114.70/80 but reckon 114.42 would remain intact.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 28 Feb 2022 03:00GMT

EUR/USD - 1.1172
Euro's intra-day gap-down in New Zealand to 1.1123 on safe-haven usd buying due to weekend's escalation of military conflicts in Ukraine suggests correction from Thursday's fresh 20-month bottom at 1.1107 has ended at 1.1274 (New York) on Friday, however, present rebound in Asia would yield 'volatile' swings before recent downtrend resumes, below 1.1107 would head towards projected downside target at 1.1050.

Only above 1.1228/36 res area prolongs choppy trading but reckon 1.1274 should remain intact.

Data to be released today:
Japan industrial output, retail sales, construction orders, housing starts, Australia business inventories, retail sales.
UK house price, Swiss retail sales, GDP, KOF indicator.
Canada current account, producer prices and U.S. trade balance, wholesale inventories, Chicago PMI, Dallas Fed manufacturing on Monday

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

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DAILY MARKET OUTLOOK on Major
Update Time: 28 Feb 2022 09:30GMT

USD/JPY - 115.55
Despite the greenback's gap-down open to 115.01 on risk-averse buying of jpy due to continued tensions between Ukraine and Russia, subsequent swift strong rebound to 115.77 suggests consolidation with upside bias remains and above Friday's high at 115.78 would head to 116.05/10, however, loss of momentum would keep price below 116.30 and bring correction later.

On the downside, only below 115.01 would indicate a temporary top has been made and risk stronger retracement to 114.75/80.

Data to be released today:
UK house price, Swiss retail sales, GDP, KOF indicator.
Canada current account, producer prices and U.S. trade balance, wholesale inventories, Chicago PMI, Dallas Fed manufacturing on Monday.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 01 Mar 2022 03:00GMT

EUR/USD - 1.1207
Although euro's gap-down open to 1.1123 in New Zealand Mon signals correction from last Thur's fresh 20-month bottom at 1.1107 has ended at 1.1274 Fri, subsequent strong rebound to 1.1246 in New York on broad-based usd's retreat due to market optimism on Russia-Ukraine talks suggests consolidation is seen and retracement towards 1.1250 may be seen before prospect of another fall, below 1.1123 would head towards 1.1050.

On the upside, only a daily close above 1.1274 would risk stronger gain towards 1.1317.

Data to be released on Tuesday:
Australia manufacturing index, manufacturing PMI, current account, RBA rate decision, Japan manufacturing PMI, China manufacturing PMI, non-manufacturing PMI.
Swiss manufacturing PMI, Italy manufacturing PMI, CPI, France manufacturing PMI, Germany manufacturing PMI, CPI, HICP, EU manufacturing PMI, UK manufacturing PMI, Canada GDP, manufacturing PMI.
U.S. manufacturing PMI and construction spending.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 01 Mar2022 09:30GMT

USD/JPY - 115.00
The greenback's gap-down open to 115.01 in New Zealand yesterday on risk-averse buying of jpy due to continued tensions between Ukraine and Russia and then fall to 114.87 near New York closing suggests recent upmove from 114.48 has ended and consolidation with downside bias remains for a re-test of said support, break would extend recent decline to 114.10/20.

On the upside, only above Asian 115.28 high would indicate a temporary low has been made and risk stronger gain to 115.40/50.

Data to be released on Tuesday:
Swiss manufacturing PMI, Italy manufacturing PMI, CPI, France manufacturing PMI, Germany manufacturing PMI, CPI, HICP, EU manufacturing PMI, UK manufacturing PMI.
Canada GDP, manufacturing PMI, U.S. manufacturing PMI and construction spending.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 02 Mar 2022 03:00GMT

EUR/USD - 1.1126
Euro's selloff below last week's 1.1107 low (Thur) to a 21-month bottom at 1.1091 in New York Tue on broad-based usd's strength due to escalating Russia-Ukraine conflict suggests decline from Feb's 1.1495 peak has once again resumed and would pressure price towards projected target at 1.1050 before correction.

On the upside, only a daily close above 1.1180/90 signals a temporary trough is in place and risks stronger retracement to 1.1230/40 later.

Data to be released on Wednesday:
New Zealand building permits, import prices, export prices, Australia GDP.
France budget balance, UK shop price index, Germany unemployment change, unemployment rate, EU HICP, core HICP.
U.S. ADP employment and Canada BoC rate decision.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 02 Mar2022 09:30GMT

USD/JPY - 115.22
Despite the greenback's gap-down open to 115.01 on Monday and yesterday's fall to 114.72 on risk-averse buying of jpy due to continued tensions between Ukraine and Russia, intra-day strong rebound suggests consolidation with upside bias remains and above Friday's high at 115.78 would head to 116.05/10, however, loss of momentum would keep price below 116.30 and bring correction later.

On the downside, only below 114.72 would indicate a temporary top has been made and risk stronger retracement to 114.55/60.

Data on Wednesday:
France budget balance, UK shop price index, Germany unemployment change, unemployment rate, EU HICP, core HICP.
U.S. ADP employment and Canada BoC rate decision.

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

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

EUR/USD - 1.1114
Euro's selloff below 1.1091 (Tue) to a 22-month trough at 1.1058 in New York Wed and despite staging a brief rebound to 1.1146 on broad-based retreat in usd due to rebound in U.S. stocks, subsequent retreat suggests downside bias remains for erratic decline from Feb's near 3-month 1.1495 peak to head towards 1.1038 but 1.1000 should hold and yield correction due to loss of momentum.

On the upside, only a daily close above 1.1180/90 would signal a temporary bottom is in place and risk stronger retracement to 1.1220/30.

Data to be released on Thursday:
Australia construction index, services PMI, building permits, trade balance, imports, exports, China services PMI, Japan consumer confidence.
Swiss CPI, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, PPI, unemployment rate, UK services PMI.
U.S. jobless claims, labor costs, productivity, services PMI, durable goods and factory orders.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 03 Mar2022 09:00GMT

USD/JPY - 115.75
Despite the greenback's gap-down open to 115.01 on Monday and yesterday's fall to 114.72 on risk-averse buying of jpy due to continued tensions between Ukraine and Russia, intra-day strong rebound suggests consolidation with upside bias remains and above Friday's high at 115.78 would head to 116.05/10, however, loss of momentum would keep price below 116.30 and bring correction later.

On the downside, only below 114.72 would indicate a temporary top has been made and risk stronger retracement to 114.55/60.

Data to be released on Thursday:
Swiss CPI, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, PPI, unemployment rate, UK services PMI.
U.S. jobless claims, labor costs, productivity, services PMI, durable goods and factory orders.

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

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

EUR/USD - 1.1020
Euro's intra-day selloff below Thursday's fresh 22-month bottom at 1.1034 on safe-haven usd buying due to news of Ukraine nuclear plant is on fire suggests decline from February's near 3-month 1.1495 peak remains in force and would pressure price to psychological 1.1000 handle, break would extend downtrend to 1.0960/64.

On the upside, only a daily close above 1.1067 (AUS) signals a temporary low is made and risks stronger retracement to 1.1090/00.

Data to be released on Friday:
Australia manufacturing sales, retail sales, Japan unemployment rate.
Germany exports, imports, trade balance, current account, Italy GDP, UK construction PMI, EU retail sales.
Canada building permits, labor productivity, Ivey PMI and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 04 Mar2022 09:00GMT

USD/JPY - 115.45
Despite the greenback's gap-down open to 115.01 on Monday and yesterday's fall to 114.72 on risk-averse buying of jpy due to continued tensions between Ukraine and Russia, intra-day strong rebound suggests consolidation with upside bias remains and above Friday's high at 115.78 would head to 116.05/10, however, loss of momentum would keep price below 116.30 and bring correction later.

On the downside, only below 114.72 would indicate a temporary top has been made and risk stronger retracement to 114.55/60.

Data to be released on Friday:
Germany exports, imports, trade balance, current account, Italy GDP, UK construction PMI, EU retail sales.
Canada building permits, labor productivity, Ivey PMI and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings.

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

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

EUR/USD - 1.0879
Euro's selloff below 1.1000 handle to a fresh 22-month trough of 1.0887 in New York last Friday on broad-based usd's strength due to upbeat U.S. jobs report, then intra-day break there suggests decline from February's 1.1495 peak would extend towards 1.0836 /40 before prospect of minor recovery later due to oversold condition.

On the upside, only a daily close above 1.0940/44 may signal temporary low is made and risk stronger retracement to 1.0965/70 but 1.1000 should hold.

Data to be released today:
Australia AIG services index, China exports, imports, trade balance, Japan machine orders.
Swiss unemployment rate, U.K. Halifax house prices, Germany industrial orders, retail sales and EU Sentix index on Monday.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 08 Mar 2022 03:00GMT

EUR/USD - 1.0863
Although euro's short-covering rally from Monday's fresh 22-month bottom at 1.0807 to 1.0932 in New York ahead of 3rd round of Russia-Ukraine talk suggests recent erratic decline has made a temporary low there, subsequent retreat has retained bearishness and consolidation with downside bias remains for re-test of 1.0807, break would extend towards 1.0778.

On the upside, only a daily close above 1.0940 would risk stronger retracement towards 1.0977 but 1.1000 should hold.

Data to be released on Tuesday:
Japan current account, trade balance, coincident index, leading indicator, Eco watchers current, Eco watchers outlook, Australia NAB business conditions, NAB business confidence.
Germany industrial output, Italy retail sales, EU employment, GDP.
Canada leading index, trade balance, exports, imports, U.S. international trade balance, goods trade balance, redbook, wholesale inventories and wholesale sales

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

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DAILY MARKET OUTLOOK on Major
Update Time: 08 Mar2022 09:00GMT

USD/JPY - 115.55
Mon's cross-inspired rise to 115.47 (NY) and then intra-day break there in Euripe suggests early decline from last week's high at 115.80 has ended at 114.66 (Fri) and break of said res would extend recent erratic rise from 114.42 marginally higher, loss of upward momentum should cap price below Feb's peak at 116.33.

On the downside, only below 115.06 'prolongs' recent choppy sideways swings and risks weakness twd 114.81, then later 114.66.

Data to be released on Tuesday:
Germany industrial output, Italy retail sales, EU employment, GDP.
Canada leading index, trade balance, exports, imports, U.S. international trade balance, goods trade balance, redbook, wholesale inventories and wholesale sales

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

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DAILY MARKET OUTLOOK on Major
Update Time: 09 Mar 2022 03:00GMT

EUR/USD - 1.0902
Although euro's short-covering rally from Mon's fresh 22-month bottom at 1.0807 to 1.0932 , then to 1.0958 in New York yesterday signals recent erratic decline has made a temporary trough there, subsequent retreat suggests said correction has possibly ended and consolidation with downside bias remains, below 1.0846 would yield further weakness towards 1.0807.

On the upside, only a daily close above 1.0958 would risk stronger gain to 1.0972/77 before prospect of another fall.

Data to be released on Wednesday:
New Zealand manufacturing sales, Japan GDP, China PPI, CPI.
U.K. BRC retail sales, France non-farm payrolls, Ital industrial output.
U.S. MBA mortgage application and JOLTS jobs opening.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 09 Mar2022 09:00GMT

USD/JPY - 115.84
Intra-day break of last week's 115.80 high suggests consolidation with upside bias remains for further gain, however, above 2022 5-year peak at 116.34 is needed to retain bullish prospect of further headway to 116.70/80 later this week.

On the downside, only a daily close below 115.43 (Tuesday New York low) signals temporary top is made, risks stronger retracement to 115.05/10.

Data to be released on Wednesday:
U.K. BRC retail sales, France non-farm payrolls, Ital industrial output.
U.S. MBA mortgage application and JOLTS jobs opening.

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