AceTraderFx : Daily Recommendations on Majors

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

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

EUR/USD - 1.0195
Despite euro's strong retreat from Thursday's 2-week top at 1.0278 to 1.0131 (Europe) on Friday, subsequent rally back to 1.0255 in New York afternoon on broad-based usd's weakness suggests pullback over and rise from July's 20-year trough at 0.9953 may head towards projected target at 1.0316 before decline due to loss of momentum.

On the downside, only a daily close below 1.0180/90 would risk re-test of 1.0131/36, break would head to 1.0080/85.

Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders, CBI business optimism.
U.S. national activity and Dallas Fed manufacturing business index on Monday.

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

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

USD/JPY - 136.38
Dollar's selloff in tandem with U.S. yields on Friday after rebound from 137.03 (AUS) to 137.95 and firm break of 137.03 suggests
erratic fall from July's 24-year peak at 139.39 would head to 135.45, however, oversold condition would keep price above 135.00/10 and yield rebound later.

On the upside, only a daily close above 136.61 would indicate aforesaid correction ended and risk stronger gain to 137.00/03.

Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders, CBI business optimism.
U.S. national activity and Dallas Fed manufacturing business index on Monday.

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

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

EUR/USD - 1.0212
Although euro's rebound from 1.0131 (Friday) to 1.0257 in New York yesterday suggests pullback from Thursday's 2-week peak at 1.0278 over, subsequent retreat on negative Nord Stream news would bring further sideways swings before up and above 1.0278 would extend rise from 0.9953 to 1.0300/10.

On the downside, only a daily close below below 1.0155 would risk weakness towards 1.0131, break would head to 1.0082.

Data to be released on Tuesday:
U.K. CBI distributive trades.
U.S. building permits, redbook, monthly home price, consumer confidence, new homes sales and Richmond Fed manufacturing.

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

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

USD/JPY - 136.53
Although dollar's strong rebound from Friday's 2-week bottom at 135.58 to as high as 136.78 ahead of New York open Monday on cross-selling in yen suggests decline from July's 24-year peak at 139.39 has made a temporary low, subsequent retreat has retained bearishness and below 135.85/90 would head back towards 135.58 again.

On the upside, only a daily close above 137.03 would signal 1st leg of correction over and risk stronger gain to 137.45/50

Data to be released on Tuesday:
U.K. CBI distributive trades.
U.S. building permits, redbook, monthly home price, consumer confidence, new homes sales and Richmond Fed manufacturing.

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

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

EUR/USD - 1.0137
Euro's selloff on Tuesday from 1.0250 and then break of Friday's 1.0131 low to as low as 1.0108 in New York on broad-based rebound in usd signals 1st leg of correction from mid-July's 20-year bottom at 0.9953 has ended at 1.0278 (Thursday) and weakness to 1.0077
is seen, reckon 1.0048/50 would remain intact.

On the upside, only a daily close above 1.0180 would prolong choppy sideways swings and risk stronger gain towards 1.0204, then 1.0250/57.

Data to be released on Wednesday:
Australia CPI, Japan coincident index, leading indicator
U.K. BRC shop price index, Germany Gfk consumer sentiment, France consumer confidence, Italy business confidence, consume confidence, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense, goods trade balance, wholesale inventories, pending home sales and Fed interest rate decision.

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

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

USD/JPY - 136.79
Although dollar's erratic rise from Friday's 2-week bottom at 135.58 to 136.97 in New York and intra-day break there suggests 1st leg of correction from July's fresh 24-year peak at 139.39 has ended, near term overbought condition would prevent strong gain and yield decline, below 136.29 would head to 135.80/90 before bounce.

On the upside, only a daily close above 137.39 would indicate aforesaid correction ended and risk stronger gain to 137.80/90 later.

Data to be released on Wednesday:
U.K. BRC shop price index, Germany Gfk consumer sentiment, France consumer confidence, Italy business confidence, consume confidence, Swiss investor sentiment.
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense, goods trade balance, wholesale inventories, pending home sales and Fed interest rate decision.

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

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

EUR/USD - 1.0181
Despite euro's erratic fall from last Thurday's 2-week high of 1.0278 to retrace rise from July's 20-year bottom at 0.9953 to 1.0097 in post-FOMC, subsequent rally on broad-based usd's weakness due to less hawkish comments by Fed's Powell suggests pullback possibly over, above 1.0257 would yield stronger gain to 1.0295/00.

On the downside, only below 1.0150/55 would risk another fall towards 1.0097.

Data to be released on Thursday:
Australia retail sales, export prices, import prices.
France producer prices, Italy industrial sales, trade balance, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer sentiment, Germany CPI.
US GDP, PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.

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

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

USD/JPY - 135.42
Dollar's selloff on Wednesday from 137.46 to 136.33 in post -FOMC New York due to Fed Powell's less hawkish comments, then today's break of last Friday's 135.58 low to 135.11 confirms fall from July's fresh 24-year peak at 135.39 has resumed and would head towards 134.96 later.

On the upside, only a daily close above 136.05 would indicate aforesaid correction ended and yield stronger gain towards 136.33, break, 136.63.

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

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

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

EUR/USD - 1.0199
Euro's rally in post-FOMC New York at 1.0097 to 1.0220 Wednesday, then to 1.0234 in Europe yesterday suggests pullback from last Thursday's 2-week peak at 1.0278 has possibly ended, despite a sharp fall to 1.0115 at New York open, subsequent rise to 1.0199 may head to 1.0250/57 before another decline.

On the downside, only a daily close below 1.0115 would risk weakness towards 1.0097, break would extend to 1.0082.

Data to be released on Friday:
Japan Tokyo CPI, unemployment rate, industrial output, retail sales, consumer confidence, construction orders, housing starts, Australia PPI.
France consumer spending, GDP, Germany GDP, import prices, unemployment change, unemployment rate, UK nationwide house price, Swiss retail sales, KOF indicator, France CPI, Italy GDP, CPI, EU HICP.
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 July 29: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 132.81
Dollar's selloff partly in tandem with US yields and negative US GDP as well as market chatter of heavy unwinding of long usd positions to a 5-week 134.21 in New York yesterday, then intra-day sharp drop to 132.51 in European morning suggests decline from July's 24-year 139.39 peak may yield 132.35, 131.50.

On the upside, only a daily close above 133.71 would signal a temporary low is in place and stronger retracement to 134.10/20 would be seen next week.

Data to be released on Friday:
France consumer spending, GDP, Germany GDP, import prices, unemployment change, unemployment rate, UK nationwide house price, Swiss retail sales, KOF indicator, France CPI, Italy GDP, CPI, EU HICP.
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 Aug 01: Daily Recommendations on Major -EUR/USD

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

EUR/USD - 1.0218
Although euro's erratic rise from last week's 1.0097 low (Wednesday) to as high as 1.0254 in Europe Friday suggests correction from 1.0278 has ended, subsequent strong retreat to 1.0147 in New York n then intra-day rebound on renewed usd's weakness indicates upside bias remains, above 1.0254/57 would head towards 1.0278, break extends rise from July's 20-year 0.9953 trough towards 1.0298.

On the downside, only a daily close below 1.0170/74 would risk weakness towards 1.0147, then 1.0097.

Data to be released today :
Australia AIG manufacturing index, S&P manufacturing PMI, New Zealand building permits, Japan Jibun Bank manufacturing PMI, China Caixin manufacturing PMI.
Germany retail sales, S&P manufacturing PMI, Swiss Market Holiday, France S&P manufacturing PMI, EU S&P manufacturing PMI, unemployment rate, Italy S&P manufacturing PMI, unemployment rate.
U.K. S&P manufacturing PMI, U.S. S&P manufacturing PMI, construction spending, ISM manufacturing PMI and Canada market holiday on Monday.

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

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

USD/JPY - 132.44
Despite dollar's intra-day cross-inspired selloff from 133.56 in Australia and then brief break of Friday's 132.51 bottom to a fresh 7-week trough of 132.08, subsequent short covering rise to 132.75 in Asia would yield choppy trading before down, reckon 131.50 should contain downside and yield rebound.

On the downside, only a daily close above 132.75 would indicate a temporary bottom made and yield stronger retracement to 133.20/25, break, 133.51/56.

Data to be released today :
Germany retail sales, S&P manufacturing PMI, Swiss Market Holiday, France S&P manufacturing PMI, EU S&P manufacturing PMI, unemployment rate, Italy S&P manufacturing PMI, unemployment rate.
U.K. S&P manufacturing PMI, U.S. S&P manufacturing PMI, construction spending, ISM manufacturing PMI and Canada market holiday on Monday.

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

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

EUR/USD - 1.0268
Although euro's erratic rise from last week's low at 1.0097 (Wed) to a 1-week high of 1.0275 in New York yesterday suggests correction from 1.0278 has ended, subsequent retreat may yield further choppy swings and below 1.0226 (New York low) would head towards 1.0206, break, 1.0165/70.

On the upside, a daily close above 1.0278 is needed to extend rise from 0.9953 (July) to 1.0320/25 later.

Data to be released on Tuesday:
Australia building permits, RBA interest rate decision, New Zealand GDT price.
U.K. Nationwide house price, Swiss consumer confidence, manufacturing PMI.
U.S. redbook, JOLTS job openings, Canada S&P manufacturing PMI.

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AceTraderFx Aug 02: Daily Recommendations on Major –USD/JPY
DAILY MARKET OUTLOOK on Major
Update Time: 02 Aug 2022 09:30GMT

USD/JPY - 130.81
Despite dollar's initial resumption of recent fall from July's 24-year peak at 139.39 to a fresh 7-week trough of 130.41, intra-day rebound on usd's safe-haven bid due to US/China tension may head back to 131.60, reckon 132.00 would hold and yield another decline later.

On the downside, only a daily close below 130.41 would risk one more fall to 130.00/10.

Data to be released on Tuesday:
U.K. Nationwide house price, Swiss consumer confidence, manufacturing PMI.
U.S. redbook, JOLTS job openings, Canada S&P manufacturing PMI.

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

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

EUR/USD - 1.0157
Despite euro's brief rise above previous 1.0278 resistance to a near 4-week high of 1.0293 (Asia) Tuesday, intra-day selloff on safe-haven usd's bid due to US/China tension, then weakness to 1.0164 on hawkish Fed speak suggests rise from 0.9953 (July) has made a top but below 1.0082/97 support is needed for weakness towards 1.0050.

On the upside, only a daily close above 1.0216 would risk stronger gain towards 1.0254 but 1.0293 should remain intact.

Data to be released on Wednesday:
Australia AIG construction index, S&P Global services PMI, retail sales, New Zealand employment change, unemployment rate, labor costs index, Japan Jibun bank services PMI, China Caixin services PMI.
Germany exports, imports, trade balance, current account, S&P Global services PMI, Swiss CPI, France budget balance, S&P Global services PMI, Italy S&P Global services PMI, retail sales, EU S&P Global services PMI, producer prices, retail sales, UK S&P Global services PMI.
U.S. MBA mortgage application, S&P Global services PMI, durable goods, durable ex-defense, durable ex-transport, factory orders and ISM non-manufacturing PMI.

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

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

USD/JPY - 133.21
Despite dollar's resumption of recent decline from Jul's 24-year peak of 139.39 to a fresh 7-week trough of 130.41 (Asia) yesterday, subsequent rally in New York on hawkish comments from Fed officials to 133.89 in Asia signals 1st leg of correction possibly over and would head towards 134.44.

On the downside, only below 132.88 would indicate aforesaid recovery over and risk re-test of 132.29, break, 131.60/65.

Data to be released on Wednesday:
Germany exports, imports, trade balance, current account, S&P Global services PMI, Swiss CPI, France budget balance, S&P Global services PMI, Italy S&P Global services PMI, retail sales, EU S&P Global services PMI, producer prices, retail sales, UK S&P Global services PMI.
U.S. MBA mortgage application, S&P Global services PMI, durable goods, durable ex-defense, durable ex-transport, factory orders and ISM non-manufacturing PMI.

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

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

EUR/USD - 1.0158
Despite euro's brief rise above previous 1.0278 resistance to a near 4-week high of 1.0293 (Asia) Tuesday, subsequent selloff to as low as 1.0124 in New York morning Wed on broad-based usd's rebound signals corrective rise from July's 20-year bottom has
possibly ended, below 1.0083 would head to 1.0048/50.

On the upside, a daily close above 1.0216/20 may prolong choppy swings and risk stronger gain to 1.0250/54.

Data to be released on Thursday:
Australia trade balance, imports, exports.
Germany industrial orders, U.K. S&P construction PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchases, BOE MPC rate hike, BOE MPC rate unchanged, BOE MPC rate cut.
U.S. international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada building permits, trade balance, exports and imports.

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

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

USD/JPY - 134.23
Despite resumption of recent decline from July's 24 -year peak of 139.39 to a fresh 7-week trough of 130.41 (Tuesday), subsequent rally in tandem with US yields to 134.54 in New York yesterday suggests low is made and above 134.54 would encourage for stronger retracement to 134.90.

On the downside, only a daily close below 132.35/40 may indicate aforesaid recovery over and risk stronger retracement to 132.88/91.

Data to be released on Thursday:
Germany industrial orders, U.K. S&P construction PMI, BOE interest rate decision, asset purchase program, BOE QE total, BOE QE corporate bond purchases, BOE MPC rate hike, BOE MPC rate unchanged, BOE MPC rate cut.
U.S. international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada building permits, trade balance, exports and imports.

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

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

EUR/USD - 1.0240
Despite euro's retreat from Tue's near 4-week high of 1.0293 to 1.0124 (Wednesday), subsequent rebound to 1.0253 in New York yesterday on broad-based usd's weakness suggests choppy swings would continue ahead of key U.S. jobs report, above 1.0293 needed to extend rise from July's 0.9953 bottom to 1.0334, break, 1.0360.

On the downside, only a daily close below 1.0209 signals intra-day top is made n heads back to 1.0161 (New York low), 1.0124.

Data to be released on Friday:
Australia AIG services index, Japan all household spending, coincident index, leading indicator.
UK Halifax housing prices, France current account, trade balance, industrial output, imports, exports, non-farm payrolls, Italy industrial output.
U.S. non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, Canada employment change, unemployment rate and Ivey PMI.

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

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

USD/JPY - 133.28
Dollar's rally from Monday's fresh 7-week trough of 130.41 to 134.54 (Wednesday) signals recent fall from July's 24-year peak at 139.39 has made a low there and despite cross-inspired decline to 132.53 today, rebound to 133.47 ahead of European open and present retreat would yield choppy sideways swings, below 133.00/05 may head back towards 132.53, then 132.29.

On the upside, a daily close above 133.47 would revive bullishness for stronger gain towards 133.79, break, 134.30/40 later.

Data to be released on Friday:
UK Halifax housing prices, France current account, trade balance, industrial output, imports, exports, non-farm payrolls, Italy industrial output.
U.S. non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, Canada employment change, unemployment rate and Ivey PMI.

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