AceTraderFx : Daily Recommendations on Majors

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

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

EUR/USD - 0.9925
Although euro's cross-led rally from last week's 0.9911 low (Thur) to 1.0033 in post-NFP New York Fri suggests choppy swings above Aug's fresh 24-year trough at 0.9901 would continue, subsequent fall to 0.9946 and intra-day gap-down open has retained bearishness, below 0.9901, 0.9855.

On the upside, only daily close above 1.0000 would indicate a temporary trough is made and risk stronger retracement towards 1.0033, break, 1.0078.

Data to be released today:
Australia AIG construction index, services PMI, business inventories, Japan Jibun bank services PMI, China caixin service PMI.
Swiss GDP, Italy S n P global services PMI, France S n P global services PMI, Germany S n P global services PMI, EU S n P global services PMI, Sentix index, retail sales, U.K. S n P global services PMI.
U.S. market holiday and Canada market holiday on Monday.

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

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

USD/JPY - 140.52
Although dollar's retreat to 139.93 in tandem with US yields in post-NFP New York Friday after a brief jump to a fresh 24-year peak of 140.79 suggests choppy trading is in store, as long as Friday's Asian 139.88 low holds, upside bias remains for marginal gain towards 140.90 but 141.10/15 may hold.

On the downside, only a daily close below 139.88/93 would indicate a temporary top made and risk stronger retracement towards 139.67, break, 139.39.

Data to be released later:
Swiss GDP, Italy S n P global services PMI, France S n P global services PMI, Germany S n P global services PMI, EU S n P global services PMI, Sentix index, retail sales, U.K. S n P global services PMI.
U.S. market holiday and Canada market holiday on Monday.

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

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

EUR/USD - 0.9960
Despite euro's break of August's 0.9901 low to a fresh 20-year trough of 0.9877 Monday on Nord stream shut-down news, subsequent rebound to 0.9943 in Europe, then intra-day gain to 0.9943 signals a temporary low is possibly made and above 0.9972 would head to 1.0005/09.

On the downside, only a daily close below 0.9901 needed to signal recovery over and yield weakness towards 0.9877, then 0.9850/55.

Data to be released on Tuesday :
Australia current account, net exports contribution, RBA interest rate decision, Japan all household spending.
U.K. retail sales, Germany industrial orders, U.K. S n P construction PMI.
U.S. S n P global services PMI, ISM non-manufacturing PMI and New Zealand GDT price index.

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

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

USD/JPY - 141.70
Dollar's intra-day intra-day cross-led rally in tandem with U.S. yields and then break of Fri's 24-year peak at 140.79 suggests recent uptrend remains in progress, however, 'loss of momentum' should prevent strong gain and reckon projected resistance at 142.14 would cap upside today.

On the downside, only below 140.79 would indicate a temporary top is in place and risk stronger retracement towards 140.26 (Asian low) , break, 139.93/98.

Data to be released on Tuesday :
U.K. retail sales, Germany industrial orders, U.K. S n P construction PMI.
U.S. S n P global services PMI, ISM non-manufacturing PMI and New Zealand GDT price index.

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

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

EUR/USD - 0.9887
Euro's intra-day selloff from 0.9986 on renewed usd's strength and then brief break of Monday's fresh 20-year trough at 0.9877 to 0.9865 Tuesday suggests price would extend to 0.9855, however, loss of momentum may keep euro above projected support at 0.9800 and bring rebound.

On the downside, only a daily close above 0.9986 would risk stronger retracement to 1.0009, break, 1.0033 later.

Data to be released on Wednesday:
Australia AIG services index, GDP, China exports, imports, trade balance, Japan coincident index, leading indicator.
Germany industrial output, U.K. industrial output, Italy retail sales, EU employment change, GDP.
U.S. MBA mortgage application, international trade balance, redbook, goods trade balance, Canada exports, imports, trade balance, BOC rate decision and Ivey PMI.

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

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

USD/JPY - 144.05
Dollar's impressive rally yesterday above Fri's 24-year peak at 140.79 in tandem with U.S. yields and active selling in yen to 143.07 in New York and intra-day break there suggests recent uptrend would head to 144.50 after choppy trading, however, overbought condition would cap price below 'psychological' 145.00 handle today.

On the downside, only a daily close below 143.07 would indicate a temporary top is in place and risk stronger retracement to 142.70/75.

Data to be released on Wednesday:
Germany industrial output, U.K. industrial output, Italy retail sales, EU employment change, GDP.
U.S. MBA mortgage application, international trade balance, redbook, goods trade balance, Canada exports, imports, trade balance, BOC rate decision and Ivey PMI.

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

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DAILY MARKET OUTLOOK on Major
Update Time: 08 Sept 2022 04:30GMT

EUR/USD - 0.9993
Despite hitting a fresh 20-year trough of 0.9865 Tue, euro's rally from 0.9876 to 1.0010 in New York on broad-based usd's weakness and pre-ECB short-covering in euro suggests a temporary low is made and stronger gain to 1.0055/60 is likely but 1.0089 should cap upside.

On the downside, a daily close below 0.9930 would signal aforesaid correction over and yield weakness to 0.9865/75.

Data to be released on Thursday:
New Zealand manufacturing sales, U.K. RICS housing price balance, Japan current account, trade balance, GDP, Eco watchers current, Eco watchers outlook, Australia trade balance, imports, exports, France non-farm payrolls, current account, trade balance, imports, exports, Swiss unemployment rate, EU ECB refinancing rate, ECB depositing rate, U.S. initial jobless claims and continuing jobless claims.

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

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

USD/JPY - 143.72
Despite resumption of recent impressive gain to a fresh 24-year peak of 144.98 ahead of New York open Wednesday, subsequent fall to 143.68 on broad-based profit taking in usd signals choppy swings are seen before another rise next week and above 144.98/00 would extend towards 145.48.

On the downside, only a daily close below 143.07 would risk stronger retracement towards 142.71.

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

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

EUR/USD - 1.0030
Despite euro's intra-day sharp fall from Thursday's 1.0030 high to as low as 0.9932 in post-ECB NY morning, subsequent strong bounce on broad-based usd's retreat suggests choppy trading above Tuesday's fresh 20-year 0.9865 low would continue, above 1.0030 would head to 1.0060/70 before down.

On the downside, a daily close below 0.9932 is needed to revive bearishness for weakness towards 0.9865 next week.

Data to be released on Friday:
New Zealand retail sales, China PPI, CPI.
France industrial output, U.K. consumer inflation.
Canada capacity utilization, employment change, unemployment rate, U.S. wholesale inventories and wholesale sales.

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

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

USD/JPY - 142.17
Despite dollar's resumption of uptrend to a fresh 24-year peak of 144.98 (Wednesday), subsequent retreat to 143.33, then intra-day selloff below there to 142.47 on active yen buying due to warning by BOJ's Kuroda on rapid yen rise signals a temporary top is made and may head towards 141.85.

On the upside, only a daily close above 143.33 would signal 1st leg of correction over and head back to 143.72.

Data to be released on Friday:
France industrial output, U.K. consumer inflation.
Canada capacity utilization, employment change, unemployment rate, U.S. wholesale inventories and wholesale sales.

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

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

EUR/USD - 1.0137
Euro's gap-up open to 1.0127 in New Zealand Mon following hawkish ECB news over the weekend and then gain to 1.0197 in Europe suggests recent downtrend has formed a temporary low at last Tuesday's 20-year trough at 0.9865, subsequent fall to 1.0105 would bring further range trading.

A firm break below 1.0105 would head back to 1.0061, then 1.0033 while above 1.0197 would revive bullishness for stronger gain to 1.0215/25.

Data to be released on Tuesday:
New Zealand food price index, Japan producer prices, Australia consumer sentiment, NAB business conditions, NAB business confidence.
Germany CPI, U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price, EU ZEW survey expectations, ZEW economic sentiment, ZEW current conditions.
U.S. CPI, redbook and Federal budget.

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

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

USD/JPY - 142.32
Although dollar's erratic rise from 141.51 on Friday to 143.49 (Europe) yesterday signals 1st leg of correction from Wednesday's fresh 24-year peak at 144.98 has ended, subsequent retreat to 142.17 in New York on renewed usd's weakness would bring 'choppy' sideways swings and below 142.15 (Mon low) would head back towards 141.51, break, 140.79.

On the upside, a daily close above 143.00 would revive bullishness for stronger gain towards 143.49.

Data to be released on Tuesday:
Germany CPI, U.K. claimant count, ILO unemployment rate, employment change, average weekly earnings, Swiss producer/import price, EU ZEW survey expectations, ZEW economic sentiment, ZEW current conditions.
U.S. CPI, redbook and Federal budget.

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

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

EUR/USD - 0.9977
Despite extending erratic rise from last Tuesday's 20-year bottom at 0.9865 to a 3-week high of 1.0197 on short covering in euro, yesterday's selloff from 1.0187 to as low as 0.9968 on rally in usd after red hot US core CPI, then 0.9957 today in Australia suggests correction possibly over and below 0.9930/32 would yield further weakness towards 0.9865.

On the upside, only a daily close above 1.0033/42 would prolong choppy swings and risk stronger gain to 1.0100/05.

Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, industrial output, capacity utilization, Australia Westpac consumer sentiment.
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, EU industrial production.
U.S. MBA mortgage application, PPI and manufacturing sales.

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

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

USD/JPY - 143.04
As dollar's daily wild swings after early strong pullback from last Wednesday's fresh 24-year 144.98 peak to 141.51 (Friday) had ended yesterday with price 'jumping' in tandem with US yields from 141.67 to 144.68 after red hot US core CPI, above 144.98 would head to 145.31, break would extend towards 145.79.

Intra-day retreat from 144.95 (AUS) on Japan officials' yen warning would bring choppy swings and below 143.49, 142.85.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, EU industrial production.
U.S. MBA mortgage application, PPI and manufacturing sales.

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

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

EUR/USD - 0.9976
Despite extending erratic rise from last Tuesday's 20-year bottom at 0.9865 to a 3-week high of 1.0197 on Monday, Tuesday's selloff on hot US CPI to 0.9956 (AUS) yesterday suggests correction over, as 1.0023 has capped recovery, weakness to 0.9930/32 is envisaged but 0.9865 should hold.

On the upside, only a daily close above 1.0033/43 would risk stronger gain to 1.0071/76.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, tertiary industry activities, Australia employment change, unemployment rate.
Germany wholesale price index, France CPI, EU trade balance, labor costs.
Canada housing starts, U.S. NY Fed manufacturing, import prices, export prices, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, retail sales, industrial production, capacity utilization, manufacturing output and business inventories.

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

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

USD/JPY - 143.56
Despite dollar's rise from 141.51 (Fri) to 144.95 in Australia yesterday, subsequent selloff due to yen intervention warnings by several Japanese officials signals 'choppy' swings below Sep's 24-year 144.98 peak would continue but 141.51 sup should hold and yield rebound, above 144.00/10 would head to 144.45/55.

On the downside, only a daily close below 143.00 would risk stronger retracement towards 142.56.

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

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

EUR/USD - 0.9995
Despite extending erratic rise from last Tuesday's 20-year bottom at 0.9865 to a 3-week high of 1.0197 on Monday, euro's selloff to 0.9956 (Wednesday) signals correction over and as 1.0023 has capped recovery in New York, weakness to 0.9930/32 is envisaged but 0.9865 should remain intact and yield rebound.

On the upside, only a daily close above 1.0023 may risk stronger retracement to 1.0065/70.

Data to be released on Friday:
New Zealand manufacturing PMI, China house price, retail sales,
Italy trade balance, EU HICP, Italy CPI, Canada wholesale trade.
U.S. University of Michigan sentiment.

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

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

USD/JPY - 143.3
Despite dollar's rise from 141.51 last Friday to 144.95 (Wednesday), subsequent sharp selloff on yen intervention warnings by several Japanese officials signals volatile trading below September's 24-year peak at 144.98 would continue but 141.51 sup should hold and yield rebound, above 143.80 (Thursday top) would head towards 144.55.

On the downside, only a daily close below 142.84 would risk stronger retracement towards 142.56.

Data to be released on Friday:
Italy trade balance, EU HICP, Italy CPI, Canada wholesale trade.
U.S. University of Michigan sentiment.

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

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

EUR/USD - 1.0014
Although euro's selloff from last Monday's 3-week top at 1.0197 to 0.9945 on Friday suggests correction from September's fresh 20-year bottom at 0.9865 has ended, subsequent rebound to 1.0036 in New York may head back to 1.0055/65 before down, below 0.9990/94 would head to 0.9945/55 but break needed for 0.9905/15.

On the upside, only a daily close above 1.0101/05 would risk stronger gain towards 1.0141 but 1.0197 should hold.

Data to be released later:
New Zealand business NZ PSI.
U.K. market holiday, Japan market holiday, EU construction output.
Canada producer prices and U.S. NAHB housing market index on Monday.

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

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

USD/JPY - 143.44
Although dollar's rebound to 144.95 last Wednesday suggests pullback from September's 24-year peak at 144.98 has ended, subsequent selloff to 142.56 the same day on yen intervention warnings by Japan officials and daily sideways swings would yield further consolidation before up and above 143.80 would head to 144.45/55.

On the downside, only a daily close below 142.56 would risk stronger retracement to 142.05/15.

Data to be released later:
U.K. market holiday, Japan market holiday, EU construction output.
Canada producer prices and U.S. NAHB housing market index on Monday.

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