AceTraderFx : Daily Recommendations on Majors

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

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

EUR/USD - 1.0614
Despite euro's rally above 1.0764 (Fri) to 1.0773 on ECB's hawkish hold, subsequent selloff after ECB Lagarde's presser and then break of previous support at 1.0628 suggests fall from May's 1-month 1.0786 peak to correct rise from 1.0350 (May low) would head towards 1.0578.

On the upside, only above 1.0653 would signal temporary low made and risk stronger gain to 1.0670/80 before down.

Data to be released on Friday:
New Zealand retail sales, manufacturing sales, Japan producer prices, China PPI, CPI.
Italy industrial sales, U.K. consumer inflation.
U.S. CPI, University of Michigan sentiment, Federal budget, Canada capacity, employment change and unemployment rate.

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

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

USD/JPY - 133.71
Despite dollar's sharp fall from Thursday's fresh 20-year peak at 134.55 to as low as 133.19 in Europe, subsequent strong rebound to 133.44 on broad-based usd's strength and intra-day retreat suggests further choppy sideways swings in in store and above said resistance would extend long term upmove towards 2002 high at 135.20, break, 135.73 next week.

On the downside, only a daily close below 133.19 would indicate a temporary top is in place and risk stronger retracement to 132.85/95.

Data to be released on Friday:
Italy industrial sales, U.K. consumer inflation.
U.S. CPI, University of Michigan sentiment, Federal budget, Canada capacity, employment change and unemployment rate.

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

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

EUR/USD - 1.0490
Euro's selloff from 1.0773 in post-ECB below previous week's 1.0628 low to 1.0612 Thursday, then further weakness to as low as 1.0507 Friday due to broad-based rally in usd and intra-day break there in New Zealand suggests correction from May's 5-year bottom at 1.0350 has ended and further weakness towards 1.0461 would be seen but 1.0430/35 should hold.

On the upside, only a daily close above 1.0570/75 may risk stronger retracement towards 1.0612.

Data to be released today:
Australia Market Holiday.
UK GDP, trade balance, construction, manufacturing output, industrial output, NISER GDP.
Canada leading index on Monday.

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

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

USD/JPY - 134.50
Despite dollar's intra-day rally above last Thursday's fresh 20-year peak at 134.55 to 135.22 in Asia on follow-through buying due to Friday's broad-based gain in usd on red hot U.S. inflation, subsequent retreat signals a temporary top is in place and consolidation is seen before prospect of another rise later.

On the downside, only a daily close below 133.90/00 would risk further weakness to 133.37, 133.19.

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

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

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

EUR/USD - 1.0411
Euro's selloff from Thursay's post-ECB 1.0773 high to 1.0507 last Friday and yesterday's break there to a near 1-month bottom at 1.0400 due to safe-haven usd's buying on global stock market rout and rally in US yields suggests re-test of May's 5-year trough at 1.0350 would be seen, break, 1.0310/20 later.

On the upside, only a daily close above 1.0507 would indicate a temporary low is in place and risk stronger retracement towards 1.0535.

Data to be released on Tuesday:
New Zealand food price index, Australia house price index, NAB business conditions, NAB business confidence, Japan industrial production, capacity utilization/
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany CPI, ZEW economic sentiment, ZEW economic conditions, EU ZEW survey expectations.
Canada manufacturing sales, U.S. PPI and redbook.

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

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

USD/JPY - 134.32
Although usd's rally to a 24-year peak at 135.22 in Asia Monday and subsequent strong retreat to 133.60 in New York on active yen buying suggests long term uptrend has made a temporary top there, intra-day rebound from 133.88 on news of BOJ bond buying programme suggests consolidation with mild upside bias remains but above 134.81 needed for re-test of 135.22 .

On the downside, only a daily close below 133.60 would risk stronger retracement towards 133.19, break, 132.99.

Data to be released on Tuesday:
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany CPI, ZEW economic sentiment, ZEW economic conditions, EU ZEW survey expectations.
Canada manufacturing sales, U.S. PPI and redbook.

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AceTraderFx Jun 15: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 15 Jun 2022 03:00GMT

EUR/USD - 1.0428
Although euro's selloff from Thur's post-ECB 1.0773 high to a near 1-month bottom at 1.0398 in Asia Tue due to active safe-haven usd's buying on global stock market rout and rally in US yields suggests re-test of May's 5-year trough at 1.0350 would be seen, subsequent rebound would yield range trading and below would extend towards 1.0320.

On the upside, only a daily close above 1.0507 would indicate a temporary trough is in place and risk stronger retracement towards 1.0535, then 1.0550.

Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, tertiary industry activities, Australia consumer sentiment, China industrial output, retail sales.
Germany wholesale price index, Swiss producer/import price, France CPI, EU trade balance, industrial production.
U.S. MBA mortgage application, NY Fed manufacturing, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed interest rate decision and Canada housing starts.

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AceTraderFx Jun 15: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 15 Jun 2022 09:30GMT

USD/JPY - 134.65
Despite dollar's intra-day rally above 135.22 (Monday) to a fresh 24-year high at 135.59 in Australia, subsequent retreat suggests choppy swings would be seen and a firm break below 134.80/85 is needed to signal a temporary top is in place and yield stronger retracement towards 134.36 but 134.02 should hold.

On the upside, only a daily close above 135.59 would revive bullishness for one more rise towards 135.99 before correction.

Data to be released on Wednesday:
Germany wholesale price index, Swiss producer/import price, France CPI, EU trade balance, industrial production.
U.S. MBA mortgage application, NY Fed manufacturing, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed interest rate decision and Canada housing starts.

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AceTraderFx Jun 16: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 16 Jun 2022 03:00GMT

EUR/USD - 1.0463
Despite euro's selloff from 1.0507 (Europe) and then break of 1.0398 (Tuesday) to a 1-month bottom at 1.0360 in post-FOMC New York on the 75 bps rate hike from the Federal Reserve, subsequent strong rebound on profiting-taking in usd suggests choppy consolidation would be seen, reckon 1.0507 would cap upside and yield decline.

On the downside, a daily close below 1.0360 would yield re-test of May's 5-year trough at 1.0350, break, 1.0320.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, Australia consumer inflation expectation, employment change, unemployment rate, China house price.
Swiss SNB interest rate decision, Italy CPI, EU labor costs, UK BOE interest rate decision, asset purchase program, BOE QE total, BoE QE Corp Bond Purchases, BOE MPC vote hike, BOE MOC vote unchanged, BOE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and Canada wholesale sales.

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AceTraderFx Jun 16: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 16 Jun 2022 09:30GMT

USD/JPY - 133.56
Dollar's selloff from 134.95 in post-FOMC New York to 133.51 suggests long term upmove has made a temporary top at Tuesday's fresh 24-year peak at 135.59 and despite subsequent rebound to 134.67 in Asia, present sharp retreat in Europe on safe haven buying in yen signals consolidation with downside bias remains but below 133.37 needed to yield stronger retracement towards 133.19, break, 132.99.

On the upside, only a daily close above 133.85/90 would revive bullishness for stronger gain towards 134.67, 134.95 later.

Data to be released on Thursday:
Swiss SNB interest rate decision, Italy CPI, EU labor costs, UK BOE interest rate decision, asset purchase program, BOE QE total, BoE QE Corp Bond Purchases, BOE MPC vote hike, BOE MOC vote unchanged, BOE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and Canada wholesale sales.

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AceTraderFx Jun 17: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 17 Jun 2022 03:00GMT

EUR/USD - 1.0540
Despite euro's resumption of decline from May's 1.0786 peak to a 1-month bottom of 1.0360 in post-FOMC Wednesday, subsequent rebound and then yesterday's rally above 1.0507 (now support) to 1.0601 on broad-based usd's selloff signals choppy swings above May's 5-year 1.0350 trough would continue but 1.0642 should cap upside and yield retreat.

On the downside, only a daily close below 1.0507 would indicate aforesaid recovery over and risk weakness towards 1.0452.

Data to be released on Friday:
New Zealand manufacturing PMI, Japan interest rate decision.
Italy trade balance, EU HICP.
Canada producer prices, U.S. industrial production, capacity utilization, manufacturing output and leading index.

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AceTraderFx Jun 17: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 17 Jun 2022 09:30GMT

USD/JPY - 134.36
Although dollar's rally from 132.18 to as high as 134.63 after BOJ's dovish hold suggests correction from Wednesday's 24-year peak at 135.59 has ended yesterday at 131.50, however, subsequent spike down and volatile swings suggests further range trading is seen and above 134.63 would yield one more rise towards 135.22 but June's 24-year peak at 135.59 should hold.

On the downside, only a daily close below 132.71 would indicate recovery over and risk weakness to 132.18/28.

Data to be released on Friday:
Italy trade balance, EU HICP.
Canada producer prices, U.S. industrial production, capacity utilization, manufacturing output and leading index.

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

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

EUR/USD - 1.0493
Euro's strong retreat from 1.3601 to as low as 1.3445 in New York morning Fri on renewed usd's strength signals recovery from last Wed's 1-month bottom at 1.0360 has possibly ended there and subsequent rebound would yield range trading, below 1.0445 would bring further weakness to 1.0400/10 but break needed for re-test of 1.0360.

On the upside, only a daily close above 1.0535 would indicate aforesaid pullback over and risk stronger gain towards 1.0560, 1.0601.

Data to be released today:
New Zealand business NZ PSI
Germany producer prices, EU construction output.
U.S. Market Holiday on Monday.

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

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

USD/JPY - 134.67
Despite dollar's rally from 132.7 to as high as 134.63 Fri on BOJ's unchanged rate decision and then rallied to 135.42 in New York on renewed usd's strength, intra-day retreat from 135.44 in Asia suggests minor consolidation is seen before re-test of last Wed's fresh 24-year peak at 135.59, break would extend towards projected target at 136.11 before retracement later.

On the downside, only a daily close below 134.28 would prolong choppy trading and risk weakness to 133.80/90.

Data to be released today:
Germany producer prices, EU construction output.
U.S. Market Holiday on Monday.

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

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

EUR/USD - 1.0514
Although euro's strong rise to as high as 1.0601 last Thur suggests decline from 1.0786 (May) has made a temporary low at 1.3060 in post-FOMC Wed and choppy trading above May's 5-year bottom at 1.0350 would continue, Fri's selloff to 1.0445, then yesterday's retreat from 1.0545 in Europe signals consolidation with downside bias remains for 1.0400/10 later.

On the upside, only a daily close above 1.0560 may risk gain towards 1.0601, break would yield stronger retracement towards 1.0642 later.

Data to be released on Tuesday :
New Zealand Westpac consumer survey, GDT price index.
U.K. Rightmove house price, CBI trends orders, Swiss exports, imports, trade balance, EU current account.
Canada new housing price index, retail sales, U.S. national activity index and existing home sales.

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

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

USD/JPY - 135.27
Dollar's rally from 132.17 to as high as 135.42 Friday on BOJ's unchanged rate decision, then to 135.44 Monday suggests upmove from 131.50 (Wednesday) would yield re-test of June's fresh 24-year peak at 135.59, break would extend towards projected target at 136.11 later before retracement occurs.

On the downside, only a daily close below 134.55 (Monday low) would risk weakness to 134.23/28 before prospect of rebound.

Data to be released on Tuesday :
U.K. Rightmove house price, CBI trends orders, Swiss exports, imports, trade balance, EU current account.
Canada new housing price index, retail sales, U.S. national activity index and existing home sales.

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

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

EUR/USD - 1.0521
Although euro's strong rise to as high as 1.0601 last Thursday suggests decline from 1.0786 (May) has made a temporary low at 1.3060 in post-FOMC Wednesday and choppy trading above May's 5-year bottom at 1.0350 would continue, Frdayi's selloff to 1.0445, then yesterday's retreat from 1.0582 in Europe signals consolidation with downside bias remains and below 1.0499 would head to 1.0445/55.

On the upside, only a daily close above 1.0582 may risk gain towards 1.0601, break would yield stronger retracement towards 1.0642 later.

Data to be released on Wednesday:
New Zealand Westpac consumer survey, imports, exports, trade balance, Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

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

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

USD/JPY - 136.21
Despite dollar's 1-week long wild swings from previous Jun's peak at 135.59, yesterday's rally above there to a fresh 24-year top at 136.70 in New York on continued selling in yen suggests long term uptrend would head to 137.10/20, reckon projected target at 137.41 should hold and yield a much-needed correction due to loss of momentum.

On the downside, only a daily close below 135.59 would indicate a temporary top is in place and risk stronger retracement towards 135.20, break, 134.93

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 23 Jun 2022 03:00GMT

EUR/USD - 1.0567
Although euro's strong rise to as high as 1.0601 last ThurSDAY and yesterday's rally above there to 1.0605 in New York on selloff in usd after Fed Powell's less hawkish comments suggests further choppy trading above May's 5-year bottom at 1.0350 would continue with mild upside bias and gain towards 1.0642 may be seen later.

On the downside, only daily close below 1.0511 (New York low) signals a temporary top is made and head back towards 1.0470.

Data to be released on Wednesday:
New Zealand Westpac consumer survey, imports, exports, trade balance, Australia Westpac leading index.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 23 Jun 2022 09:30GMT

USD/JPY - 135.57
Dollar's intra-day selloff below 135.70 (Wednesday) on active buying in yen suggests long term uptrend has made a temporary top at yesterday's fresh 24-year peak at 136.71 and as 135.87 has capped recovery in Europe, consolidation with downside bias remains and below 135.14 would yield stronger retracement towards 134.93, break, 134.75/80.

On the upside, only above 135.87 would signal pullback possibly over and yield stronger gain towards 136.30 but 136.71 should remain intact.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index.
US mortgage application, redbook, Canada CPI and EU consumer confidence.

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