AceTraderFx : Daily Recommendations on Majors

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

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

EUR/USD - 1.0166
Euro's decline from Tuesday's near 4-week 1.0293 peak to 1.0124 (Wednesday) suggests recent rise from July's 20-year bottom at 0.9953 has made a top and despite staging a strong bounce to 1.0253 on Thursday, subsequent selloff to 1.0142 on blowout U.S. NFP Friday would re-test 1.0124, 1.0090/95 but 1.0048/50 may hold.

On the upside, only a daily close above 1.0209 would prolong choppy swings and risk gain to 1.0235/39 before down.

Data to be released today :
Japan current account, trade balance, Eco watchers current, Eco watchers outlook, New Zealand inflation forecast, Swiss unemployment and EU Sentix index on Monday.

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

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

USD/JPY - 135.11
Dollar's jump on robust U.S. NFP Friday and then break of 134.54 (Wed top) to 135.49 in New York signals correction from July's 24-year peak at 139.39 has possibly ended at 130.41 (Tuesday) and further gain to 135.75 is envisaged, reckon 135.96 should cap upside and yield correction.

On the downside, only a daily close below 134.54 would dampen daily bullishness and risk stronger retracement towards 134.17, break, 133.89/94

Data to be released today :
Swiss unemployment and EU Sentix index on Monday.

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

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

EUR/USD - 1.0198
Euro's decline from Tue's near 4-week peak at 1.0293 to 1.0124 (Wednesday) suggests recent upmove from July's 20-year bottom at 0.9953 has made a top and despite staging a rebound to 1.0253 Thursday, selloff to 1.0142 on Friday and then Monday's rebound to 1.0221 on broad-based usd's weakness in tandem with U.S. yields would yield further choppy swings before fall. Below 1.0124/30, 1.0097 later.

On the upside, only a daily close above 1.0221 would bring stronger gain to 1.0240/50 but 1.0290/95 should hold.

Data to be released on Tuesday:
New Zealand retail sales, Australia NAB business conditions, NAB business confidence.
U.K. BRC retail sales.
U.S. labor costs, productivity and redbook retail sales.

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

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

USD/JPY - 134.88
Dollar's jump on blowout U.S. NFP Friday to 135.49, then to 135.57 Monday signals correction from July's 24-year peak at 139.39 has possibly ended at 130.41 (Tuesday), despite retreat to 134.37 in New York in tandem with U.S. yields, subsequent rebound has retained upside bias, above 135.57 would yield stronger gain to 135.85/95.

On the downside, only a daily close below 134.37 would risk retracement to 134.00/05.

Data to be released on Tuesday:
U.K. BRC retail sales.
U.S. labor costs, productivity and redbook retail sales.

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

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

EUR/USD - 1.0206
Euro's fall from last Tuesday's near 4-week 1.0293 top to 1.0124 (Wednesday) suggests recent upmove from July's 20-year bottom at 0.9953 has made a top n despite rebound to 1.0253, weakness to 1.0142 Friday, then gain to 1.0247 yesterday would prolong further choppy swings before down, below 1.0124, 1.0097 later.

On the upside, only a daily close above 1.0253 would risk stronger gain towards 1.0293 but break needed for 1.0350.

Data to be released on Wednesday:
Japan producer prices, Australia consumer sentiment, China PPI, CPI.
Germany CPI, Italy CPI, U.S. MBA mortgage application, CPI, wholesale inventories and Federal budget.

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

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

USD/JPY - 134.99
Dollar's rally from August's 7-week trough of 130.41 to 135.57 Monday signals correction from July's 24-year peak at 139.39 has possibly ended and as 134.37 has contained retreat, upside bias remains but above 135.57 is needed to extend gain towards 135.96

On the downside, only a daily close below 134.37 would risk weakness to 134.00/05 later.

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

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

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

EUR/USD - 1.0301
As euro's recent daily choppy swings from August's 1.0293 high had ended with Wednesday's jump to a 5-week peak of 1.0368 after softer-than-expected U.S. CPI, suggesting rise from July's 20-year 0.9953 bottom would head towards 1.0418 before prospect of a strong retreat later.

On the downside, only a daily close below 1.0265/70 would indicate a temporary top is in place and risk stronger retracement towards 1.0247, then 1.0203.

Data to be released on Thursday:
U.K. RICS housing price balance, Japan market holiday, Australia consumer inflation experience, U.S. initial jobless claims, continuing jobless claims and PPI.

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

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

USD/JPY - 132.57
Although dollar's impressive rise from August's 7-week trough at 130.41 to as high as 135.57 (Mon) signals correction from July's 24-year 139.39 peak has ended, yesterday's selloff below 134.37 support to 132.04 on soft US yields signals choppy swings may continue and below 132.62 would head towards 132.04 later.

On the upside, only a daily close above 133.47 would suggest temporary low and risk stronger gain to 133.80/90.

Data to be released on Thursday:
U.K. RICS housing price balance, Japan market holiday, Australia consumer inflation experience, U.S. initial jobless claims, continuing jobless claims and PPI.

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

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

EUR/USD - 1.0314
Despite yesterday's intra-day rally from 1.0276 (Asia) to 1.0365 in New York after slightly softer-than-expected U.S. PPI data, subsequent retreat on broad-based rebound in usd due to rally in U.S. yields suggests further choppy trading below Wednesday's 5-week peak at 1.0368 would continue before prospect of marginal gain, loss of upward momentum should cap euro at 1.0400/10.

A daily close below 1.0275 would be the first signal recent upmove has formed a temporary top and risk stronger retracement towards 1.0203 on Monday.

Data to be released on Friday :
New Zealand manufacturing PMI, food price index/
France ILO unemployment rate, U.K. GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate, France CPI, Italy trade balance, EU industrial production, Germany current account.
U.S. import prices, export prices and University of Michigan sentiment.

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

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

USD/JPY - 133.21
Although dollar's impressive rise from August's 7-week trough at 130.41 to as high as 135.57 (Monday) signals correction from Jul's 24-year 139.39 peak has ended, yesterday's selloff below 134.37 support to 132.04 on soft US yields signals choppy swings may continue and below 132.62 would head towards 132.04 later.

On the upside, only a daily close above 133.47 would suggest temporary low and risk stronger gain to 133.80/90.

Data to be released on Friday :
France ILO unemployment rate, U.K. GDP, industrial output, manufacturing output, construction output, trade balance, NIESR GDP estimate, France CPI, Italy trade balance, EU industrial production, Germany current account.
U.S. import prices, export prices and University of Michigan sentiment.

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

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

EUR/USD - 1.0260
Despite euro's rally above previous August's 1.0293 high to a 5-week peak of 1.0368 (Wednesday), subsequent strong retreat to 1.0276 (Thursday) and then Friday's selloff to 1.0239 in New York on cross-selling in euro and broad-based usd's rebound signals medium term rise from July's 20-year bottom at 0.9953 has possibly formed a top and below 1.0190 would head towards 1.0160.

On the upside, only a daily close above 1.0306 would risk stronger gain to 1.0342/47.

Data to be released today:
New Zealand NZ PSI, U.K. Rightmove house price, Japan GDP, industrial output, capacity utilization, China GDP, house prices, industrial output, retail sales.
Germany wholesales price index, France market holiday, Italy market holiday, Swiss producer/import price.
U.S. New York Fed manufacturing, NAHJB housing market index, Canada manufacturing sales and wholesale trades on Monday.

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

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

USD/JPY - 133.43
Although dollar's cross-inspired fall from 135.57 last Mon to as low as 131.74 (Thursday) suggests early strong rise from August's 7-week trough at 130.41 has made a top, subsequent gain to 133.89 Fri and then decline to 132.92 would yield further sideways swings but below 132.62 needed to yield weakness towards 132.04, reckon 131.74 should hold on 1st testing.

On the upside, a daily close above 133.59 (AUS) would revive bullishness for stronger gain towards 133.89, 134.37/42.

Data to be released today:
U.K. Rightmove house price, Japan GDP, industrial output, capacity utilization, Germany wholesales price index, France market holiday, Italy market holiday, Swiss producer/import price.
U.S. New York Fed manufacturing, NAHJB housing market index, Canada manufacturing sales and wholesale trades on Monday.

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

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

EUR/USD - 1.0159
Despite euro's rally above previous August's 1.0293 high to a 5-week peak of 1.0368 last Wednesday, subsequent decline to 1.0239 Friday, then yesterday's selloff to 1.0155 signals corrective rise from July's 20-year 0.9953 low has possibly ended and would head towards 1.0112, reckon pivotal 1.0097 support would hold.

On the upside, only a daily close above 1.0223 would risk stronger gain to 1.0240/50.

Data to be released on Tuesday:
Japan Tertiary industry activities.
U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance, ZEW survey expectations, Germany ZEW economics sentiment, ZEW current conditions, Canada housing starts, CPI, U.S. building permits, housing starts, redbook, industrial output, capacity utilization and manufacturing output.

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

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

USD/JPY - 133.83
Although dollar's fall from 135.57 last Monday to 131.74 (Thursday) suggests early strong rise from August's 7-week bottom at 130.41 has made a top, subsequent rebound to 133.89 Friday and yesterday's decline to 132.56 in New York, then intra-day rebound on broad-based usd's strength in tandem with U.S. yields would prolong choppy range trading and above 133.54/59 needed for re-test of 133.89, break, 134.37.

On the downside, only a daily close below 132.56 may risk weakness towards 132.04 but 131.74 should hold.

Data to be released on Tuesday:
U.K. claimant count, ILO unemployment rate, average weekly earnings, EU trade balance, ZEW survey expectations, Germany ZEW economics sentiment, ZEW current conditions, Canada housing starts, CPI, U.S. building permits, housing starts, redbook, industrial output, capacity utilization and manufacturing output.

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

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

EUR/USD - 1.0169
Despite euro's rally above previous August's 1.0293 high to a 5-week peak of 1.0368 last Wednesday, subsequent decline to 1.0239 Friday, then selloff to 1.0123 ahead of New York open yesterday signals rise from July's 20-year 0.9953 low has possibly ended and as 1.0194 has capped rebound in New York, consolidation with downside bias remains but below 1.0112 needed for 1.0097.

On the upside, only a daily close above 1.0239 would prolong choppy swings and risk stronger gain to 1.0274/76.

Data to be released on Wednesday:
New Zealand PPI input, PPI output, RBNZ interest rate decision, Japan machinery orders, exports, imports, trade balance, Australia Westpac leading index, wage price index.
U.K. CPI, RPI, PPI input prices, PPI output prices, EU employment, GDP.
U.S. MBA mortgage application, retail sales and business inventories.

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

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

USD/JPY - 134.81
Despite dollar's fall from 135.57 last Monday to retrace early rise from August's 7-week 130.41 bottom to 131.74 on last Thursday, subsequent bounce to 133.89 and yesterday's cross-inspired rally to 134.68, then present break there in tandem with U.S. yields signals recent upmove would extend towards 135.30.

On the downside, only a daily close below 133.89/92 would prolong choppy swings and risk weakness to 133.54/59.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, EU employment, GDP.
U.S. MBA mortgage application, retail sales and business inventories.

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AceTraderFx Aug 18: Daily Recommendations on Major -EUR/USD

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DAILY MARKET OUTLOOK on Major
Update Time: 18 Aug 2022 03:00GMT

EUR/USD - 1.0184
Despite euro's rally above previous Aug's 1.0293 high to a 5-week peak of 1.0368 last Wed, subsequent decline to 1.0123 (Tue) signals rise from Jul's 20-year 0.9953 low has possibly ended, yesterday's rebound to 1.0202 on less-hawkish FOMC minutes would yield range trading before fall and a daily close below 1.0112 would head towards 1.0097.

On the downside, only a daily close above 1.0202 may prolong choppy swings and risk stronger gain to 1.0223/33 before down.

Data to be released on Thursday:
Australia employment change, unemployment rate.
Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada producer prices, U.S. existing home sales and leading index change.

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AceTraderFx Aug 18: Daily Recommendations on Major –USD/JPY

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DAILY MARKET OUTLOOK on Major
Update Time: 18 Aug 2022 09:30GMT

USD/JPY - 135.32
Dollar's intra-day rally in tandem with U.S. yields to a 2-week high of 135.49 in New York suggests re-test of August's 135.57 high would be forthcoming next, above would extend upmove from August's 130.41 7-week trough at 130.41 towards 135.96 before prospect of decline later.

On the downside, only a daily close below 134.68 would prolong choppy swings and risk weakness towards 134.43, break would head to 133.92/97.

Data to be released on Thursday:
Swiss exports, imports, trade balance, EU construction output, HICP.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, Canada producer prices, U.S. existing home sales and leading index change.

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

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

EUR/USD - 1.0081
Euro's recent decline from August's 5-week high at 1.0368 to 1.0081 (New York) yesterday due to broad-based usd's rally following hawkish comments by Fed officials suggests correction from July's 20-year bottom at 0.9953 has ended and downside bias remains for further weakness, oversold condition would keep euro above 1.0007.

On the upside, only a daily close above 1.0123 (Tuesday low, now res) signals temporary low is made and may risk stronger retracement to 1.0178/88 on Monday.

Data to be released on Friday :
New Zealand imports, trade balance, exports, Japan nationwide CPI.
U.K. Gfk consumer confidence, Germany producer prices, U.K. PSNB GBP, PSNCR GBP, retail sales, Swiss industrial production, EU current account.
Canada retail sales.

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

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

USD/JPY - 136.51
Dollar's intra-day rally in tandem with U.S. yields to a 2-week high of 135.49 in New York suggests re-test of Aug's 135.57 high would be forthcoming next, above would extend upmove from Aug's 130.41 7-week trough at 130.41 towards 135.96 before prospect of decline later.

On the downside, only a daily close below 134.68 would prolong choppy swings and risk weakness towards 134.43, break would head to 133.92/97.

Data to be released on Friday :
U.K. Gfk consumer confidence, Germany producer prices, U.K. PSNB GBP, PSNCR GBP, retail sales, Swiss industrial production, EU current account.
Canada retail sales.

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