AceTraderFx : Daily Recommendations on Majors

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

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

EUR/USD - 1.0862
Euro's selloff from last Thursday's high at 1.1184 to 1.0866 in New York yesterday on continued usd's strength, then present break there in Asia suggests correction from March's 22-month bottom at 1.0807 has ended and bearishness remains for re-test of said support, break needed to extend decline to 1.0755/60.

On the upside, only a daily close above 1.0938 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.

Data to be released on Friday:
Japan current account, trade balance, consumer confidence, Eco watchers current, Eco watchers outlook.
Italy retail sales.
Canada unemployment rate, employment change, U.S. wholesale sales and wholesale inventories.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 08 Apr 2022 09:30GMT

USD/JPY - 124.06
Dollar's rally from last Thursday's bottom at 121.29 to as high as 124.23 in Australia today on continued usd's strength due to rally in U.S. yields suggests early correction from Mar's near 7-year peak at 125.10 has possibly ended and as 123.68 (Asia) has contained subsequent retreat, consolidation with upside bias remains for 124.30/40 but 124.70 should hold.

On the downside, only a daily close below 123.47 would signal a temporary top is in place and risk stronger retracement towards 123.03.

Data to be released on Friday:
Japan current account, trade balance, consumer confidence, Eco watchers current, Eco watchers outlook.
Italy retail sales.
Canada unemployment rate, employment change, U.S. wholesale sales and wholesale inventories.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 11 Apr 2022 03:00GMT

EUR/USD - 1.0887
Euro's selloff from 1.1184 (Thursday) to a 1-month bottom at 1.0837 on continued usd's strength due to rally in U.S. yields suggests early correction from March's 22-month bottom at 1.0807 has ended and as 1.0934 has capped rebound in New Zealand today, consolidation with downside bias remains for re-test of 1.0837, break would extend said decline towards 1.0807 again.

On the upside, only a daily close above 1.0938 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.

Data to be released today:
New Zealand retail sales, China CPI, PPI.
U.K. construction output, manufacturing output, industrial output, GDP, trade balance.
Canada leading index on Monday.

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AceTraderFx Apr 11: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 11 Apr 2022 09:30GMT

USD/JPY - 125.21
Dollar's present retreat in tandem with U.S. yields after intra-day rally above Mar's near 7-year 125.10 peak to 125.43 at European open on active selling in yen suggests minor consolidation is in store before long term upmove resumes and heads towards 125.70 but 2015 top at 125.86 should cap upside today.

On the downside, only a daily close below 124.67 signals a temporary top is in place and risks stronger retracement to 124.28, break, 124.04 later.

Data to be released today:
U.K. construction output, manufacturing output, industrial output, GDP, trade balance.
Canada leading index on Monday.

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AceTraderFx Apr 12: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 12 Apr 2022 03:00GMT

EUR/USD - 1.0881
Euro's selloff from 1.1184 (Thursday) to a 1-month bottom at 1.0837 on continued usd's strength due to rally in U.S. yields suggests early correction from March's 22-month bottom at 1.0807 has ended and as price has fallen again after yesterday's gap-up open to 1.0934 in New Zealand, consolidation with downside bias remains for re-test of 1.0837, break, 1.0807 later.

On the upside, only a daily close above 1.0934/38 would signal a temporary bottom is in place and risk stronger retracement towards 1.0961, break, 1.0988 later.

Data to be released on Tuesday:
Japan producer prices, Australia NAB business confidence, NAB business conditions.
U.K. BRC retail sales, average weekly earnings, employment change, ILO unemployment rate, claimant count,
Germany HICP, CPI, ZEW current conditions, ZEW economic sentiment, France exports, imports, trade balance, current account, EU ZEW survey expectation.
U.S. CPI, redbook and Federal budget.

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AceTraderFx Apr 12: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 12 Apr 2022 09:30GMT

USD/JPY - 125.56
Although dollar's retreat after yesterday's rally to a near 7-year peak at 125.77 in New York in tandem with U.S. yields signals consolidation is in store, intra-day rebound from 125.12 in Asia suggests pullback has ended and upside bias remains for re-test of said resistance, break would yield re-test of 2015 peak at 125.86 but 126.44 should cap upside.

On the downside, only a daily close below 125.00/10 would risk stronger retracement towards 124.67 later.

Data to be released on Tuesday:
U.K. BRC retail sales, average weekly earnings, employment change, ILO unemployment rate, claimant count,
Germany HICP, CPI, ZEW current conditions, ZEW economic sentiment, France exports, imports, trade balance, current account, EU ZEW survey expectation.
U.S. CPI, redbook and Federal budget.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2022 03:00GMT

EUR/USD - 1.0823
Euro's selloff from 1.1184 (Thur) to 1.0837 on Mon and yesterday's break there to a fresh 1-month bottom at 1.0822 in New York on continued usd's strength due to rally in U.S. yields suggests early correction from Mar's 22-month bottom at 1.0807 has ended and downside bias remains for re-test of 1.0807, break would recent downtrend to 1.0760.later.

On the upside, only a daily close above 1.0903 signals a temporary bottom is in place and risks stronger retracement towards 1.0933/38, break, 1.0961.

Data to be released on Wednesday:
New Zealand food price index, RBNZ interest rate decision, Japan machinery orders, Australia consumer sentiment, China trade balance, imports, exports.
U.K. PPI output prices, PPI input prices, RPI, CPI, DCLG house price, Italy industrial output.
U.S. MBA mortgage application, PPI and Canada interest decision.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 13 Apr 2022 09:30GMT

USD/JPY - 126.03
Dollar's resumption of recent uptrend to a near 7-year peak at 125.77 in New York Mon on broad-based usd's strength due to rally in U.S. yields, then intra-day firm break of 2015 high of 125.86 on active selling in yen in European morning suggests further gain towards 126.40/45 is envisaged before a much-needed correction occurs due to over-bought condition.

On the downside, only a daily close below 125.75/77 would indicate a temporary top is made and risk stronger retracement to 125.10/15 but 124.78 should hold.

Data to be released on Wednesday:
U.K. PPI output prices, PPI input prices, RPI, CPI, DCLG house price, Italy industrial output.
U.S. MBA mortgage application, PPI and Canada interest decision.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 14 Apr 2022 03:00GMT

EUR/USD - 1.0889
Despite euro's selloff below 1.0822 (Tuesday) to a fresh 1-month bottom at 1.0809 in New York morning, subsequent rally to 1.0894 on broad-based usd's retreat due to fall in U.S. yields suggests stronger retracement to 1.0933/38 would be seen before prospect of another decline, below below 1.0807, 1.0760.

On the upside, a daily close above 1.0988 would signal a temporary bottom is in place and risk stronger gain to 1.1020/30.

Data to be released on Thursday :
New Zealand manufacturing PMI, Australia unemployment rate, employment change, Japan industrial production.
U.K. RICS housing price balance, Germany wholesale price index, Swiss producer/import price, EU ECB deposit rate, ECB refinancing rate.
U.S. retail sales, continuing jobless claims, initial jobless claims, imports prices, export prices, University of Michigan sentiment, business inventories, Canada wholesale trade and manufacturing sales.

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AceTraderFx Apr 14: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 14 Apr 2022 09:30GMT

USD/JPY - 125.36
Despite dollar's resumption of uptrend to a near 20-year peak at 126.31 in Europe Wed, subsequent retreat to 125.09 in Europe today on active yen buying signals a temporary top is made and consolidation is in store, reckon 125.05/10 would hold and yield prospect of another rebound, above 125.75/80 would bring re-test of 126.31.

On the downside, only a daily close below 124.78 would risk stronger retracement to 124.35/40.

Data to be released on Thursday :
U.K. RICS housing price balance, Germany wholesale price index, Swiss producer/import price, EU ECB deposit rate, ECB refinancing rate.
U.S. retail sales, continuing jobless claims, initial jobless claims, imports prices, export prices, University of Michigan sentiment, business inventories, Canada wholesale trade and manufacturing sales.

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AceTraderFx Apr 19: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2022 03:00GMT

EUR/USD - 1.0774
Euro's selloff from last Thursday's peak at 1.0923 to a near 2-year bottom at 1.0758 in post-ECB suggests medium term downtrend remains in force and as 1.0830 has capped subsequent recovery, yesterday's retreat to 1.0771 on broad-based usd's strength due to rally in U.S. yields suggests consolidation with downside bias remains, below 1.0758 would yield 1.0730/35.

On the upside, only a daily close above 1.0834 signals a temporary trough is in place and risks stronger gain to 1.0860/70.

Data to be released on Tuesday :
New Zealand business NZ PSI, GDT price index, Japan industrial production, capacity utilization.
Canada housing starts, U.S. housing starts, building permits and redbook.

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AceTraderFx Apr 19: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 19 Apr 2022 09:30GMT

USD/JPY - 128.45
Dollar's impressive rally from 126.97 (AUS) to a fresh near 20-year peak of 128.32 at European open, then present break there on active selling in yen suggests recent uptrend would head to 128.35 after consolidation, however, overbought condition is likely head to cap price below 128.65/70 and yield a much-needed correction later.

On the downside, only a daily close below 127.22/27 would indicate a temporary top is in place and risk stronger retracement towards 126.79.

Data to be released on Tuesday :
Canada housing starts, U.S. housing starts, building permits and redbook.

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AceTraderFx Apr 20: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2022 03:00GMT

EUR/USD - 1.0789
Euro's break of 1.0771 (Mon) to 1.0762 in Asia Tuesday suggests recovery from last Thursday's near 2-year bottom at 1.0758 has ended at 1.0830 the same day and as 1.0814 has capped subsequent rebound in Europe yesterday, bearishness remains for re-test of 1.0758, below would pressure price to 1.0720/22.

On the upside, only a daily close above 1.0813/14 would indicate a temporary trough is in place and risk stronger retracement towards 1.0834, 1.0855/60.

Data to be released on Wednesday:
Japan exports, imports, trade balance, tertiary industry activity, Australia Westpac leading index.
Germany producer prices, Italy trade balance, EU industrial production, trade balance.
U.S. MBA mortgage application, existing home sales, Canada new housing price index and CPI.

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AceTraderFx Apr 20: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2022 09:30GMT

USD/JPY - 128.66
Despite dollar's intra-day rally above 128.97 (Tuesday) to a fresh 20-year peak at 129.40 in Asia on active selling in yen, subsequent brief but sharp retreat to 128.07 in tandem with U.S. yields suggests recent upmove has made a temporary top there and consolidation is in store, reckon 126.30/35 would hold and yield another rise, above 129.40, 129.70/80 later.

On the downside, only a daily close below 128.07 would risk stronger retracement towards 127.79.

Data to be released on Wednesday:
Germany producer prices, Italy trade balance, EU industrial production, trade balance.
U.S. MBA mortgage application, existing home sales, Canada new housing price index and CPI.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2022 03:00GMT

EUR/USD - 1.0842
Euro's rally above 1.0834/37 resistance to 1.0867 in Europe on broad-based retreat in usd due to fall in U.S. yields suggests recent erratic decline has made a temporary bottom at last Thursday's near 2-year bottom at 1.0758 and stronger retracement towards 1.0890/94 is likely before another fall, below 1.0807 would head back to 1.0783, then 1.0758/62 later.

On the upside, only a daily close above 1.0923 would risk stronger gain to 1.0938/45, break, 1.0965/70.

Data to be released on Thursday:
New Zealand CPI.
France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and EU consumer confidence.

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AceTraderFx Apr 21: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 21 Apr 2022 09:30GMT

USD/JPY - 128.18
Dollar's selloff from Wednesday's fresh near 20-year peak at 129.40 to as low as 127.47 in New York on broad-based usd's retreat due to fall in U.S. yields suggests recent erratic upmove has made a temporary top there and as 128.63 has capped intra-day recovery in Asia, consolidation with downside bias remains but below 127.47 needed to yield stronger retracement towards 127.22.

On the upside, only a daily close above 128.63/74 would revive bullishness for 128.98, break would re-test said resistance later.

Data to be released on Thursday:
France business climate, EU HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and EU consumer confidence.

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AceTraderFx Apr 22: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 22 Apr 2022 03:00GMT

EUR/USD - 1.0839
Despite euro's rally above 1.0867 (Wednesday) to a 2-week high of 1.0936 in Europe yesterday on hawkish comments from ECB's de Guindos, subsequent selloff to 1.0830 in New York on renewed usd's strength due to hawkish comments from Fed's Powell suggests correction from last Thursday's near 2-year 1.0758 bottom has ended and weakness towards 1.0805/10 is seen.

On the upside, only a daily close above 1.0893 indicates aforesaid pullback over and risks stronger gain to 1.0920/30.

Data to be released on Friday:
Australia manufacturing PMI, services PMI, Japan nationwide CPI Jibun bank manufacturing PMI, services PMI.
U.K. Gfk consumer confidence, retail sales, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI, EU current account.
Canada producer prices, retail sales, U.S. Markit manufacturing PMI and Markit services PMI.

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AceTraderFx Apr 22: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 22 Apr 2022 09:30GMT

USD/JPY - 128.12
Although dollar's erratic rise from 127.47 (Wednesday) to 128.70 Thur in tandem with U.S. yields suggests 1st leg of correction from last Wednesday's fresh near 20-year peak at 129.40 has ended, intra-day retreat from 128.69 to 127.75 in Europe on possible yen intervention news suggests choppy trading below said resistance would continue and below 127.47 would yield stronger retracement towards 127.20/25 later.

On the upside, only a daily close above 128.69/74 would abort daily bearishness and risk stronger gain to 129.00/10 on Monday.

Data to be released on Friday:
U.K. Gfk consumer confidence, retail sales, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI, EU current account.
Canada producer prices, retail sales, U.S. Markit manufacturing PMI and Markit services PMI.

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

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

EUR/USD - 1.0805
Although euro's selloff from last week's high at 1.0936 (Thur) to as low as 1.0771 in New York morning Fri due to broad-based safe-haven buying in usd suggests correction from Apr's near 2-year bottom at 1.0758 has ended, intra-day higher open to 1.0840 on news of election win by French President Macron Sun would bring 'choppy' swings.

As long as 1.0867 holds, daily downside bias remains for another fall, below 1.0771 would encourage for weakness to 1.0758/62 and only above 1.0867 risks stronger gain to 1.0880/90.

Data to be released later:
New Zealand Market Holiday, Australia Market Holiday, Japan coincident index, leading index.
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2022 09:30GMT

USD/JPY - 128.07
Although dollar's erratic rise from 127.47 (Wed) to 128.70 Thur in tandem with U.S. yields suggests 1st leg of correction from last Wed's fresh near 20-year peak at 129.40 has ended, intra-day retreat from 128.69 to 127.75 in Europe on possible yen intervention news suggests choppy trading below said resistance would continue and below 127.47 would yield stronger retracement towards 127.20/25 later.

On the upside, only a daily close above 128.69/74 would abort daily bearishness and risk stronger gain to 129.00/10 later this week.

Data to be released later:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.

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