AceTraderFx : Daily Recommendations on Majors

AceTraderFx Apr 26: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2022 03:00GMT

EUR/USD - 1.0715
Euro's selloff below 1.0771 (Friday) to a fresh 2-year bottom at 1.0698 in New York yesterday on risk-averse usd buying suggests medium term decline remains in force and and further weakness towards 1.0670 is seen, reckon 1.0636 should hold and yield correction later.

On the upside, only a daily close above 1.0771 indicates a temporary trough is is in place and risks stronger retracement to 1.0800/10.

Data to be released on Tuesday:
U.K. right move house price, Japan unemployment rate, U.K. PSNB, PSNCR, Swiss exports, imports, trade balance.
U.S. building permits. durable goods, durable ex-transport, durables ex-defense, U.S. redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.

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AceTraderFx Apr 26: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 26 Apr 2022 09:30GMT

USD/JPY - 127.95
Although dollar's early strong retreat from last Wed's near 2-year peak at 129.40 for 127.53 in New York morning yesterday and intra-day break there to 127.35 in Asia suggests recent upmove has made a temporary top there, subsequent rebound signals consolidation with upside bias remains but above 128.59 is needed to extend towards 128.86.

On the downside, only a daily close below 127.35 would risk stronger retracement to 127.00/10.

Data to be released on Tuesday:
U.K. right move house price, Japan unemployment rate, U.K. PSNB, PSNCR, Swiss exports, imports, trade balance.
U.S. building permits. durable goods, durable ex-transport, durables ex-defense, U.S. redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.

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AceTraderFx Apr 27: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2022 03:00GMT

EUR/USD - 1.0640
Although euro's selloff below 1.0698 (Monday) to 1.0637 in New York yesterday, then intra-day break there to a 5-year bottom at 1.0636 in Australia on continued usd's strength suggests marginal weakness is seen, oversold condition should prevent steep fall today and yield a much-needed correction, above 1.0698 would head back to 1.0720 later.

On the downside, only a daily close below 1.0600/10 may dampen bullish prospect of view and risk further weakness towards 1.0571 before rebound.

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

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AceTraderFx Apr 27: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 27 Apr 2022 09:30GMT

USD/JPY - 127.85
Despite dollar's marginal break of 127.03 (Tuesday) to a 1-week bottom at 126.96 in Australia today, subsequent strong recovery on active selling in yen suggests 1st leg of correction from April's near 20-year peak at 129.40 over and above 127.85/90 would yield stronger gain to 128.20/22 but reckon 128.49/59 resistance would remain intact initially.

On the downside, only a daily close below 126.96 would risk one more fall to 126.45/50.

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

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

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

EUR/USD - 1.0553
Euro's resumption of decline to a 5-year bottom at 1.0515 in New York yesterday on continued usd's strength suggests weakness to 1.0500 handle is envisaged but below needed to extend further fall to 1.0470/75 before prospect of correction later.

On the upside, only a daily close above 1.0654 would indicate a temporary bottom is in place and risk stronger retracement towards 1.0698, break, 1.0738.

Data to be released on Thursday:
New Zealand imports, trade balance, exports, NBNZ business outlook, NBNZ own activity, Australia export prices, import prices, Japan industrial output, retail sales, BOJ interest rate decision, construction orders, housing starts.
Italy business confidence, consumer confidence, industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

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

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

USD/JPY - 130.70
Dollar's intra-day impressive rally in Asia on active selling in yen after BoJ's dovish hold and then break of last Wednesday's near 20-year peak at 129.60 suggests recent upmove would extend to 130.85, however, reckon 131.50/55 would hold and yield a much-needed correction due to overbought condition.

On the downside, only a daily close below 129.40 would indicate a temporary top is in place and risk stronger retracement to 128.90/00 later.

Data to be released on Thursday:
Italy business confidence, consumer confidence, industrial sales, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2022 03:00GMT

EUR/USD - 1.0507
Euro's selloff below 1.0515 (Wednesday) to a fresh 5-year bottom at 1.0472 in New York yesterday on continued usd's strength suggests recent downtrend may extend towards 1.0436, however, reckon 1.0405/10 would contain downside and yield correction later today due to loss of downward momentum.

On the upside, only a daily close above 1.0586 indicates a temporary bottom is in place and risks stronger retracement to 1.0635/40 Mon.

Data to be released on Friday:
Australia PPI, Japan Market Holiday, China Caixin manufacturing PMI.
France consumer spending, GDP, CPI, producer prices, Germany import prices, export prices, GDP, U.K. nationwide house price, Swiss retail sales, KOF indicator, Italy GDP, CPI, producer prices, EU HICP, GDP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 29 Apr 2022 09:30GMT

USD/JPY - 130.35Despite dollar's impressive rally above previous April's peak at 129.40 to a 20-year high of 131.24 on active selling in yen after BoJ's dovish hold, intra-day retreat on broad-based profit taking in usd signals consolidation is in store, reckon 129.85/90 would contain downside and yield another rise, above 131.24 would extend to 131.48/53 later.

On the downside, only a daily close below 129.60 would indicate a temporary top is in place and risk stronger retracement towards 129.40, break, 129.10.

Data to be released on Friday:
France consumer spending, GDP, CPI, producer prices, Germany import prices, export prices, GDP, U.K. nationwide house price, Swiss retail sales, KOF indicator, Italy GDP, CPI, producer prices, EU HICP, GDP.
U.S. personal income, personal spending, PCE price index, employment wages, employment costs, Chicago PMI, University of Michigan sentiment, Canada GDP and budget balance.

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

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

EUR/USD - 1.0520
Euro's decline to 1.0491 (New Yoyk) on Mon due to renewed usd's strength on gain in U.S. yields suggests correction from Thursday's 5-year bottom at 1.0472 has ended and re-test of this key sup is envisaged after consolidation, loss of downward momentum would limit weakness to 1.0435/40.

Only above 1.0568 prolongs choppy swings above 1.0472 and may risk gain towards 1.0592 but reckon 1.0630/35 should cap upside.

Data to be released on Tuesday :
New Zealand building permits, GDT price index, Australia RBA interest rate decision Japan Market Holiday, China Market Holiday.
France budget balance, Germany unemployment rate, unemployment change, U.K. Markit manufacturing PMI, EU producer prices, unemployment rate.
U.S. redbook, durable goods, durables ex-defense, factory orders, durables ex-transport, JOLTS job openings.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 03 May 2022 09:30GMT

USD/JPY - 130.16
Despite dollar's impressive rally above previous April's peak at 129.40 to a 20-year high of 131.24 on active selling in yen after BoJ's dovish hold, intra-day retreat on broad-based profit taking in usd signals consolidation is in store, reckon 129.85/90 would contain downside and yield another rise, above 131.24 would extend to 131.48/53 later.

On the downside, only a daily close below 129.60 would indicate a temporary top is in place and risk stronger retracement towards 129.40, break, 129.10.

Data to be released on Tuesday :
France budget balance, Germany unemployment rate, unemployment change, U.K. Markit manufacturing PMI, EU producer prices, unemployment rate.
U.S. redbook, durable goods, durables ex-defense, factory orders, durables ex-transport, JOLTS job openings.

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

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

EUR/USD - 1.0522
Although euro's rebound to 1.0592 in Europe last Friday suggests long term decline has made a temporary bottom at Thursday's fresh 5-year low at 1.0472, yesterday's retreat from 1.0578 at New York open on renewed usd's strength has retained bearishness and below 1.0472 would yield further weakness to 1.0428/33 later.

On the upside, only a daily close above 1.0578 would risk stronger retracement towards 1.0592, break would head to 1.0615/20 before prospect of another fall.

Data to be released on Wednesday:
Australia AIG construction index, services PMI, retail sales, New Zealand unemployment rate, employment change, labor cost index.
U.K. BRC shop price, Japan Market Holiday, China Market Holiday, Germany exports, imports, trade balance, current account, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage application, ADP employment change, international trade balance, good trade balance, Markit services PMI, ISM non-manufacturing PMI, Fed interest rate decision, Canada trade balance, exports and imports.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 04 May 2022 09:30GMT

USD/JPY - 130.04
Although dollar's retreat from last Thursday's 20-year peak a 131.24 to 129.33 Fri signals recent upmove has made a temporary top there, subsequent rebound and daily sideways swings suggests consolidation is in store, as long as Tuesday's bottom at 129.71 holds, upside bias remains but above 130.47 needed for 130.70/80, break would yield re-test of said resistance.

On the downside, only a daily close below 129.62 would risk stronger retracement towards 129.33, break, 129.00/10.

Data to be released on Wednesday:
U.K. BRC shop price, Japan Market Holiday, China Market Holiday, Germany exports, imports, trade balance, current account, Markit services PMI, Italy Markit services PMI, France Markit services PMI, EU Markit services PMI, retail sales.
U.S. MBA mortgage application, ADP employment change, international trade balance, good trade balance, Markit services PMI, ISM non-manufacturing PMI, Fed interest rate decision, Canada trade balance, exports and imports.

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

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

EUR/USD - 1.0616
Euro's rally above last Friday's 1.0592 high to as high as 1.0631 in post-FOMC trading yesterday on broad-based profit taking in usd due to less hawkish comments from Fed's Powell suggests recent erratic decline has made a temporary low at last Thursday's 5-year 1.3472 bottom and stronger retracement to 1.0580/85 would be seen, however, overbought condition should cap price below 1.0704 and yield retreat later.

On the downside, only a daily close below 1.0578 would indicate aforesaid recovery over and yield weakness to 1.0507/12, break, 1.0490/95.

Data to be released on Thursday:
Japan Market Holiday, Australia building permits, trade balance, imports, exports, China Caixin Services PMI.
Germany industrial orders, Swiss CPI, France industrial output, U.K. Markit Services PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchase, BOE MPC vote cut, BOE MPC vote unchanged, BOE MPC vote hike.
U.S. initial jobless claims, continuing jobless claims, labor costs and productivity.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 05 May 2022 09:30GMT

USD/JPY - 129.76
Euro's intra-day strong rebound after yesterdays sharp fall from 130.37 to as low as 128.64 in post-FOMC New York on broad-based profit taking in usd after less hawkish comments from Fed's Powell suggests early pullback from April's 20-year peak at 131.24 has possibly ended and stronger gain towards 130.47 would be seen but above needed for 130.75/85 later.

On the downside, only a daily close below 129.00 would indicate aforesaid recovery over and risk re-test of 128.64, break, 128.20/25.

Data to be released on Thursday:
Germany industrial orders, Swiss CPI, France industrial output, U.K. Markit Services PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchase, BOE MPC vote cut, BOE MPC vote unchanged, BOE MPC vote hike.
U.S. initial jobless claims, continuing jobless claims, labor costs and productivity.

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

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

EUR/USD - 1.0542
Despite euro's rally to a 8-day high in Asia Thursday, subsequent selloff to as low as 1.0493 in New York on renewed broad-based rally in usd suggests recovery from last Thursday's 5-year bottom at 1.0472 has possibly ended and below 1.0472 would extend recent downtrend to 1.0405/10.

On the upside, only a daily close above 1.0578/83 would prolongs choppy swings and risks stronger retracement to 1.0603, break, 1.0630/40

Data to be released on Friday:
Australia AIG services index, Japan Tokyo CPI.
Swiss unemployment rate, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, France non-farm payrolls, Italy retail sales.
U.S. Non-farm payrolls, private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 06 May 2022 09:30GMT

USD/JPY - 130.42
Dollar's rally from 138.64 (Wed) to 130.55 Thur and intra-day break there on renewed broad-based usd's strength suggests early pullback from April's 20-year peak at 131.24 has ended and consolidation with upside bias remains, above 130.80 (Asia) would yield re-test of said resistance later.

On the downside, only a daily close below 129.99 would risk weakness to 129.55/65 but 129.30/40 should hold and yield rebound.

Data to be released on Friday:
Australia AIG services index, Japan Tokyo CPI.
Swiss unemployment rate, U.K. Halifax house prices, Markit construction PMI, Germany industrial output, France non-farm payrolls, Italy retail sales.
U.S. Non-farm payrolls, private payrolls, unemployment rate, average earnings, Canada employment change, unemployment rate and Ivey PMI.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 10 May 2022 03:00GMT

EUR/USD - 1.0562
Although euro's retreat from last Thursday's 8-day high of 1.0641 suggests recovery from April's fresh 5-year bottom at 1.0472 has possibly ended, Friday's rebound from 1.0483 to 1.0600 in New York and yesterday's fall to 1.0496 at European open suggest further volatile swings above said support would continue before prospect of another fall, below 1.0483 would head towards 1.0472, then 1.0405/10.

On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.

Data to be released on Tuesday:
New Zealand retail sales, NAB business conditions, NAB business confidence.
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 10 May 2022 09:30GMT

USD/JPY - 130.15
Despite dollar's brief break of April's 131.24 top to a fresh 20-year peak at 131.34 in Europe Mon, subsequent retreat to 130.13 in tandem with US stocks and US yields in New York, with intra-day break there suggests recent erratic upmove has made a temporary top there and choppy trading is in store but above 130.55/57 needed to yield further gain to 130.80/90.

On the downside, only a daily close below 129.81 would risk stronger retracement towards 129.55 but 129.33 should hold.

Data to be released on Tuesday:
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.

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

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

EUR/USD - 1.0532
Although euro's retreat from last Thursday's 8-day high of 1.0641 suggests recovery from April's fresh 5-year bottom at 1.0472 has possibly ended, subsequent daily volatile swings and yesterday's retreat from 1.0585 in Europe signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.

On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.

Data to be released on Wednesday:
Australia Westpac consumer sentiment, China PPI, CPI, Japan coincident index, leading indicato,
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.

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

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

USD/JPY - 130.01
Despite dollar's brief break of April's 131.24 high to a fresh 20-year peak on Monday, subsequent selloff to 130.13, then to 129.81 in Asia yesterday suggests recent upmove has made a temporary top there and consolidation is in store before prospect of another rebound but above 130.54/57 is needed to head back to 130.80/90.

On the downside, only a daily close below 129.50/60 would risk stronger retracement of said rise towards 129.33, break, 129.10.

Data to be released on Wednesday:
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.

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