AceTraderFx : Daily Recommendations on Majors

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

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

EUR/USD - 1.0700
Euro's strong retreat from Tue's 1-month peak at 1.0748 to as low as 1.0643 at New York open yesterday on rebound in usd suggests upmove from May's 5-year bottom at 1.0350 has made a temporary top there and weakness to 1.0620/25 is envisaged after consolidation, break would extend towards 1.0588 later next week.

On the upside, only a daily close above 1.0723 would risk stronger gain towards 1.0748, break, 1.0771.

Data to be released on Thursday:
Australia capital expenditure, building carpex.
Germany Market Holiday, France Market Holiday, Swiss Market Holiday, Italy business confidence, consumer confidence, industrial sales.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing, Canada retail sales and average weekly earnings.

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

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

USD/JPY - 126.78
Dollar's intra-day selloff from 127.58 on hawkish comments from BoJ's Kuroda in Europe suggests correction from Tuesday's 1-month bottom at 126.37 has possibly ended there and below would extend decline from May's 20-year peak at 131.34 to 126.10/20 before prospect of recovery tomorrow.

On the upside, only a daily close above 121.10/20 would signal aforesaid pullback over and risk stronger gain towards 127.58.

Data to be released on Thursday:
Germany Market Holiday, France Market Holiday, Swiss Market Holiday, Italy business confidence, consumer confidence, industrial sales.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing, Canada retail sales and average weekly earnings.

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

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

EUR/USD - 1.0737
Euro's strong rebound from 1.0663 to 1.0731 in New York on broad-based usd's weakness due to rally in U.S. stocks suggests pullback form Tue's 1-month 1.0748 peak has possibly ended and above would extend upmove from May's 5-year bottom at 1.0350 to 1.0780/90, however, loss of momentum should cap price below 1.0807 and yield decline later.

On the downside, only a daily close below 1.0690/95 would indicate a temporary top possibly made and yield weakness towards 1.0663, then 1.0643 Mon.

Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales, Italy trade balance.
U.S. personal income, personal spending, PCE price index, goods trade balance, wholesale inventories, University of Michigan sentiment and Canada budget balance.

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

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

USD/JPY - 127.10
Despite dollar's sharp fall from 157.58 to as low as 126.56 in Europe Thursday on hawkish comments from BOJ's Kuroda, subsequent strong rebound suggests further choppy trading above Tue's 1-month bottom at 126.37 would continue and above 157.58 would bring stronger retracement of decline from May's 20-year 131.34 peak towards 128.08.

On the downside, a daily close below 126.56 needed for re-test of 126.37, break would head to 126.10/20 before recovery.

Data to be released on Friday:
U.S. personal income, personal spending, PCE price index, goods trade balance, wholesale inventories, University of Michigan sentiment and Canada budget balance.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 30 May 2022 03:00GMT

EUR/USD - 1.0734
Although euro's retreat from Fri's 1-month peak at 1.0764 signals corrective upmove from May's 5-year bottom at 1.0350 has ended, subsequent strong bounce to 1.0750 in New York on risk sentiment suggests choppy swings would be seen and above 1.0764 would extend to 1.0787/92 before decline due to loss of momentum.

On the downside, a daily close below 1.0698 would revive bearishness for weakness towards 1.0643, break, 1.0608 later.

Data to be released later today :
Germany import prices, Swiss non-farm payrolls, KOF indicator, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada current account.
U.S. Market Holiday on Monday.

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

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

USD/JPY - 127.35
Although dollar's rebound to 127.58 (Thursday) after last week's resumption of decline to a 1-month bottom at 126.37 in New York Tuesday suggests further choppy sideways swings would continue, as long as 127.58 holds, bearishness remains for prospect of another fall, below 126.37 would extend towards 126.01 later.

On the upside, only a daily close above 127.58 would yield stronger gain towards 127.67 but 128.08 should cap upside.

Data to be released later today :
Germany import prices, Swiss non-farm payrolls, KOF indicator, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada current account.
U.S. Market Holiday on Monday.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2022 03:00GMT

EUR/USD - 1.0747
Euro's intra-day strong retreat in Asia on broad-based rebound in usd suggests recent corrective upmove from May's 5-year bottom at 1.0350 has possibly made a temporary top at yesterday's fresh 1-month peak at 1.0786 and further weakness to 1.0727/31 would be seen, below would head towards 1.0698, 1.0663 later.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk one more rise towards 1.0807.

Data to be released on Tuesday :
New Zealand building permits, NBNA business outlook, NBNA own activity, Japan unemployment rate , industrial production, retail sales, consumer confidence, construction orders, Australia building permits, business inventories, current account, net exports contribution, China NBS manufacturing PMI, NBS non-manufacturing PMI.
U.K. nationwide house price, Swiss exports, imports, trade balance, retail sales, GDP, France consumer spending, GDP, CPI, producer prices, Germany unemployment rate, unemployment change, Italy GDP, CPI, EU HICP, Canada GDP.
U.S. monthly home price, Chicago PMI, consumer confidence and Dallas Fed manufacturing business index.

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AceTraderFx May 31: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2022 09:30GMT

USD/JPY - 127.73
Despite dollar's intra-day rally above 127.82 (Mon) to 127.33 in Asia on active selling in yen, subsequent retreat in European morning in tandem with U.S. yields suggests recovery from May's 1-month bottom at 126.37 has ended there and below 127.58 would yield further weakness to 127.20/25 later.

On the upside, above 128.00 would indicate pullback over and re-test of 128.33 would be seen, but break needed for further gain to 128.50/55, 128.86.

Data to be released on Tuesday :
U.K. nationwide house price, Swiss exports, imports, trade balance, retail sales, GDP, France consumer spending, GDP, CPI, producer prices, Germany unemployment rate, unemployment change, Italy GDP, CPI, EU HICP, Canada GDP.
U.S. monthly home price, Chicago PMI, consumer confidence and Dallas Fed manufacturing business index.

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

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

EUR/USD - 1.2611
Although euro's selloff from Mon's fresh 1-month peak at 1.0786 to as low as 1.0680 in New York Tue on broad-based usd's rebound in tandem with U.S. yields suggests correction from May's 5-year bottom at 1.0350 has made a temporary top there, subsequent strong rebound on retreat in usd would yield consolidation before prospect of another fall, below 1.0680 would bring stronger retracement towards 1.0643.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk stronger gain towards 1.0807

Data to be released on Wednesday:
Australia AIG manufacturing index, manufacturing PMI, GDP.
U.K. BRC shop price index, S&P Global manufacturing PMI, Japan business capex, Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, S&P Global manufacturing PMI, France budget balance, S&P Global manufacturing PMI, Swiss manufacturing PMI, Italy S&P Global manufacturing PMI, unemployment rate, EU S&P Global manufacturing PMI, unemployment rate.
U.S. mortgage application, ADP employment change, redbook, S&P Global manufacturing PMI, construction spending, ISM manufacturing PMI, JOLTS job openings, Canada BOC rate decision and S&P Global manufacturing PMI.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2022 09:30GMT

USD/JPY - 129.46
Dollar's rally above 127.82 (Mon) to 128.88 in New York Tuesday in tandem with US yields and intra-day break there suggests decline from May's 20-year peak at 131.34 has ended at 126.37 (Tuesday) and further gain towards 129.44 is envisaged but 129.77 should remain intact initially.

On the downside, only a daily close below 128.78/88 would indicate temporary top made and risk weakness towards 128.33.

Data to be released on Wednesday:
U.K. BRC shop price index, S&P Global manufacturing PMI, Japan business capex, Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, S&P Global manufacturing PMI, France budget balance, S&P Global manufacturing PMI, Swiss manufacturing PMI, Italy S&P Global manufacturing PMI, unemployment rate, EU S&P Global manufacturing PMI, unemployment rate.
U.S. mortgage application, ADP employment change, redbook, S&P Global manufacturing PMI, construction spending, ISM manufacturing PMI, JOLTS job openings, Canada BOC rate decision and S&P Global manufacturing PMI.

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

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

EUR/USD - 1.0646
Euro's selloff from Monday's 1-month 1.0786 high to 1.0680 Tuesday and yesterday's break there to as low as 1.0628 in New York on rally in usd in tandem with US yields suggests correction from May's 5-year trough of 1.0350 has made a temporary top there and further weakness towards 1.0608 would be seen but oversold condition should keep price above 1.0568 and yield rebound.

On the upside, only a daily close above 1.0680 would indicate pullback over and risk stronger gain towards 1.0706 before down.

Data to be released on Thursday:
New Zealand import prices, export prices, Australia trade balance, imports, exports.
Swiss CPI, U.K. Market Holiday, Italy Market Holiday, EU producer prices.
Canada building permits, U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durables goods, durable ex-transport and factory orders.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2022 09:30GMT

USD/JPY - 129.93
Dollar's rally above 128.88 (Tue) to as high as 130.18 in New York Wednesday on usd's strength due to rally in U.S. yields and intra-day break there suggests correction from May's 20-year peak at 131.34 has ended at 126.37 (Tue) and present retreat would yield consolidation before prospect of another rise towards 130.40 later.

On the downside, only a daily close below 129.77 may indicate a temporary top made and risk stronger retracement to 129.21/25 before rebound.

Data to be released on Thursday:
Swiss CPI, U.K. Market Holiday, Italy Market Holiday, EU producer prices.
Canada building permits, U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durables goods, durable ex-transport and factory orders.

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

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

EUR/USD - 1.0722
Euro's selloff from last Monday's 1-month peak at 1.0786 to 1.0628 Wed suggests corrective upmove from May's 20-year bottom at 1.0350 has made a top and despite Fri's strong rebound to 1.0764, subsequent retreat to 1.0705 in post-NFP New York on broad-based usd's strength would head back to 1.0660/65, break would yield re-test of 1.0628.

On the upside, only a daily close above 1.0764 aborts bearishness on euro and risks stronger gain towards 1.0786.

Data to be released today:
New Zealand Market Holiday, China Caixin services PMI.
France Market Holiday, Germany Market Holiday and Swiss Market Holiday on Monday.

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

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

USD/JPY - 130.70
Dollar's rally to a 1-month peak at 130.98 in tandem with U.S. yields in post-NFP New York Friday, then to 130.99 in Australia today suggests upmove from May's 1-month bottom at 126.37 would yield re-test of May's 20-year peak at 131.34 after consolidation but above needed to extend towards 131.79 before retreat.

On the downside, only a daily close below 130.23 would signal temporary top made and risk stronger retracement to 130.00/04.

Data to be released today:
France Market Holiday, Germany Market Holiday and Swiss Market Holiday on Monday.

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

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

EUR/USD - 1.0689
Euro's selloff from last Mon's 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite subsequent strong rebound to 1.0764 Fri, yesterday's retreat from 1.0751 to 1.0685 in New York on broad-based usd's strength due to rally in US yields has retained bearishness for 1.0660, 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Tuesday:
Australia AIG services index, RBA interest rate decision, Japan coincident index, leading indicator, all household spending.
U.K. BRC retail sales, S&P Global services PMI, Germany industrial orders, EU sentix index.
U.S. trade balance, redbook, Canada trade balance, imports, exports, Ivey PMI and New Zealand GDT price.

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AceTraderFx Jun 07: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 07 Jun 2022 09:30GMT

USD/JPY - 132.62
Dollar's rally above May's 131.34 top to a fresh 20-year peak at 132.01 in New York Monday in tandem with U.S. yields and intra-day firm break there suggests long term uptrend has once again resumed, above 132.99 would extend towards 133.40 but 133.79 should cap upside and yield a much-needed correction due to overbought condition.

On the downside, only a daily close below 132.01 would indicate a temporary top is in place and risk stronger retracement towards 131.34.

Data to be released on Tuesday:
U.K. BRC retail sales, S&P Global services PMI, Germany industrial orders, EU sentix index.
U.S. trade balance, redbook, Canada trade balance, imports, exports, Ivey PMI and New Zealand GDT price.

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

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

EUR/USD - 1.0696
Euro's selloff from last Mon's 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite strong rebound to 1.0764 Fri, subsequent retreat to 1.0653 in New York Tue and then rebound would yield range trading before prospect of another fall, below 1.0653 would yield 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Wednesday:
Japan current account, trade balance, GDP, eco watchers current, eco watchers outlook.
Swiss unemployment rate, U.K. Halifax house prices, S&P construction PMI, Germany industrial output, France trade balance, imports, exports, Italy retail sales, EU employment, GDU.
U.S. MBA mortgage application, wholesale inventories and wholesale sales.

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Daily Recommendations on Major –USD/JPY

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

USD/JPY - 133.77
Dollar's intra-day rally above Tue's fresh 20-year peak at 132.99 on continued selling in yen suggests long term upmove remains in force and marginal gain would be seen, reckon 133.80/90 would limit upside today and yield a much-needed correction due to near term loss of momentum.

On the downside, only a daily close below 132.33 would indicate temporary top made and risk stronger retracement towards 132.01.

Data to be released on Wednesday:
Swiss unemployment rate, U.K. Halifax house prices, S&P construction PMI, Germany industrial output, France trade balance, imports, exports, Italy retail sales, EU employment, GDU.
U.S. MBA mortgage application, wholesale inventories and wholesale sales.

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

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

EUR/USD - 1.07416
Euro's selloff from last Monday's 1-month peak at 1.0786 to as low as 1.0628 (Wednesday) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite strong rebound from 1.0653 (Tuesday) to 1.0748 in New York yesterday, subsequent retreat on usd's rebound signals downside bias remains and below 1.0653 would head towards 1.0628.

On the upside, only a daily close above 1.0764 would risk stronger gain towards 1.0786 but 1.0807 should hold initially.

Data to be released on Thursday:
China exports, imports, trade balance, Japan machine tool orders.
U.K. RICS housing price balance, France non-farm payrolls, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claim and continuing jobless claims.

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

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

USD/JPY - 133.54
Despite dollar's resumption of uptrend to a fresh 20-year peak at 134.55 at Tokyo open today, subsequent retreat in tandem with U.S. yields in Europe suggests temporary top is made and 1-2 days of consolidation would be seen before marginal gain to 134.82/87 later.

On the downside, only below 133.20/25 would dampen bullishness and yield stronger retracement to 132.95/99.

Data to be released on Thursday:
U.K. RICS housing price balance, France non-farm payrolls, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claim and continuing jobless claims.

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