AceTraderFx : Daily Recommendations on Majors

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

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

EUR/USD - 0.9967
Although euro's decline from September's 1.0197 high suggests correction from September's fresh 20-year 0.9865 low has possibly ended, subsequent bounce from 0.9945 to 1.0036 Friday would bring choppy swings, yesterday's fall from 1.0050 to 0.9956 has retained bearishness and below 0.9945 would head
towards 0.9901.

On the upside, only a daily close above 1.001/23 would risk stronger gain towards 1.0050.

Data to be released on Wednesday:
Australia Westpac leading index.
U.K. PSNB, PSNCR, CBI trends orders.
U.S. MBA mortgage application, existing home sales and Fed interest rate decision.

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

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

USD/JPY - 143.76
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 and above 144.07 (Europe) may head to 144.55 but 144.95 should hold.

On the downside, only a daily close below 143.48 would risk stronger retracement to 142.95/00

Data to be released on Wednesday:
U.K. PSNB, PSNCR, CBI trends orders.
U.S. MBA mortgage application, existing home sales and Fed interest rate decision.

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

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

EUR/USD - 0.9825
Euro's break of previous September's 0.9865 low to a fresh 20-year bottom of 0.9814 on rally in usd after Fed's hawkish hike confirms downtrend has resumed and as price has fallen after a brief bounce to 0.9910, weakness to 0.9785/90, then possibly 0.9755/65 would be seen later.

On the upside, only a daily close above 0.9910 would indicate a temporary trough made and risk stronger retracement to 0.9935/45 before retreat.

Data to be released on Thursday:
New Zealand imports, exports, trade balance, Australia market holiday, Japan BOJ interest rate decision.
France business climate, Swiss SNB interest rate decision, U.K. BOE interest rate decision, BOE MPC vote hike, BOE MPC vote unchanged, BOE MPC vote cut.
U.S. initial jobless claims, continuing jobless claims, leading index change, KC Fed manufacturing PMI, Canada new housing price index and EU consumer confidence.

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

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

USD/JPY - 142.09
Despite dollar's intra-day jump to a fresh 24-year high of 145.40 (EBS) after BoJ's dovish hold and later to 145.89 in European morning, subsequent sharp fall on Japan intervention on yen suggests recent erratic upmove has made a temporary top there, reckon 140.60/70 should contain downside and yield correction later due to oversold condition.

Stand aside and look to buy on dips as above 142.50/60 would indicate temporary bottom made and yield stronger gain towards 142.95 later.

Data to be released on Thursday:
France business climate, Swiss SNB interest rate decision, U.K. BOE interest rate decision, BOE MPC vote hike, BOE MPC vote unchanged, BOE MPC vote cut.
U.S. initial jobless claims, continuing jobless claims, leading index change, KC Fed manufacturing PMI, Canada new housing price index and EU consumer confidence.

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

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

EUR/USD - 0.9839
Despite euro's rebound from Asian fresh 2-decade low of 0.9810 Thur to 0.9908 in Europe due to yen-led usd's decline, subsequent weakness to 0.9813 in New York suggests recent downtrend would head towards projected target at 0.9760 before prospect of correction.

On the upside, only a daily close above 0.9908/10 res would confirm a temporary trough made and risk stronger retracement to 0.9945/55.

Data to be released on Friday:
Australia manufacturing PMI, services PMI, U.K. Gfk consumer confidence, Japan market holiday.
France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, U.K. S n P manufacturing PMI, S n P global services PMI, CBI distributive trades.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.

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

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

USD/JPY - 142.40
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold Thur, subsequent selloff to 140.36 on BoJ's 'unilateral' yen buying intervention signals temporary top made, rebound to 142.50 in New York signals 1st leg of correction is over and further gain towards 143.08 would be seen but 143.78 should hold.

On the downside, only a daily close below 141.77 would risk weakness to 141.15/20.

Data to be released on Friday:
France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, U.K. S n P manufacturing PMI, S n P global services PMI, CBI distributive trades.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.

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

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

EUR/USD - 0.9675
Despite Thursday's yen-led short-covering rebound from 0.9810 to 0.9908, euro's selloff on Friday after weak EU data and renewed usd's strength to a fresh 20-year trough of 0.9669 (New York) suggests downtrend may head towards 'psychological' 0.9500 handle later this week.

On the downside, only a daily close above 0.9737 would risk stronger retracement towards 0.9775 but 0.9710 should hold.

Data to be released later :
New Zealand market holiday, Japan Jibun bank manufacturing PMI, Jibun bank services PMI.
Germany Ifo business cliamte, Ifo current conditions, Ifo expectations, U.S. national activity index and Dallas Fed manufacturing business index on Monday.

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

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

USD/JPY - 143.67
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thursday, subsequent selloff to 140.36 on BoJ's 'unilateral' yen buying intervention suggests a temporary top is made, Friday's gain to 143.46 in New York signals 1st leg of correction over.

Intra-day retreat from 144.26 signals top possibly made and below 143.68 would yield further weakness towards 142.85 whilst above 144.25, 144.40/50 later.

Data to be released later :
Germany Ifo business cliamte, Ifo current conditions, Ifo expectations, U.S. national activity index and Dallas Fed manufacturing business index on Monday.

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

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

EUR/USD - 0.9630
Yesterday's cable-led weakness to a fresh 2-decade trough of 0.9559 (Asia) signals recent downtrend remains in force and as price has fallen in New York after a short-covering bounce to 0.9701 (Europe), further fall to 0.9500 is likely but 0.9475/80 may hold.

On the downside, only a daily close above 0.9669 would prolong choppy sideways swings and risk stronger gain to 0.9701/05.

Data to be released on Tuesday:
Italy trade balance non-EU.
U.S. building permits, durable goods, durables ex-transport, durables ex-defense, redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.

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

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

USD/JPY - 144.32

Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thursday, subsequent selloff to 140.36 on BoJ's 'unilateral' yen buying intervention suggests temporary top is made, Friday's gain to 143.46 in New York signals 1st leg of correction over and as 144.78 (New York) has capped upside, below 143.80 would yield weakness towards 143.26 but 142.59 should hold.

On the upside, only a daily close above 144.78 would risk stronger gain to 145.30/40.

Data to be released on Tuesday:
Italy trade balance non-EU.
U.S. building permits, durable goods, durables ex-transport, durables ex-defense, redbook, monthly home price, consumer confidence, new home sales and Richmond Fed manufacturing.

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

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

EUR/USD - 0.9598
Euro's weakness to 0.9570 in New York yesterday following a rebound from Monday's fresh 2-decade low of 0.9559 to 0.9701 suggests re-test of 0.9559 would be seen after range trading, break extends downtrend to 0.9520 but loss of momentum may limit weakness to 0.9485.

On the upside, only a daily close above 0.9652 would prolong choppy sideways swings and risk 0.9670, break, 0.9701.

Data to be released on Wednesday:
U.K. BRC shop price index, Australia retail sales, Japan coincident index, leading index, Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence, industrial sales.
U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales.

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

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

USD/JPY - 144.67
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thursday, subsequent selloff to 140.36 on BoJ's 'unilateral' yen buying intervention suggests a temporary top is made, yesterday's gain to 144.90 in New York signals correction is over but above 145.00 is needed to yield re-test of 145.89, break, 146.70/80.

On the downside, below 144.07 would revive bearishness fo weakness towards 143.26/28

Data to be released on Wednesday:
U.K. BRC shop price index, Australia retail sales, Japan coincident index, leading index, Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence, industrial sales.
U.S. MBA mortgage application, goods trade balance, wholesale inventories and pending home sales.

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

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

EUR/USD - 0.9704
Despite resumption of downtrend to a fresh 20-year trough of 0.9537 (Europe) yesterday, subsequent rally due to selloff in usd in tandem with US yields to 0.9750 in New York signals a temporary low is made, intra-day retreat may head to 0.9640/50, below, 0.9600.

On the upside, only a daily close above 0.9750 would risk stronger retracement towards 0.9775 but 0.9810/13 should cap upside.

Data to be released on Thursday:
Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, Canada GDP and average weekly earnings.

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AceTraderFx Sept 29: Daily Recommendations on Major –USD/JPY

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

USD/JPY - 144.71
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thursday, subsequent selloff to 140.36 on BoJ's 'unilateral' yen intervention suggests a temporary top is made, gain to 144.90 on Tuesday signals correction is possibly over.

As usd has risen from 143.92 (Wednesday), above 144.90/00 would head to 145.40/50 whilst below 143.92 would yield weakness towards 143.54, then 143.26/28.

Data to be released on Thursday:
Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, Canada GDP and average weekly earnings.

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

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

EUR/USD - 0.9821
Despite resumption of downtrend to a fresh 20-year trough of 0.9537 on Wednesday, subsequent rally to 0.9750 and then yesterday's break above there to 0.9815 (New York), then 0.9844 in Australia today suggests stronger retracement to 0.9878, 0.9908 would be seen, reckon 0.9945 should cap upside.

On the downside, a daily close below 0.9750 needed to signal top is made and yield weakness towards 0.9684.

Data to be released on Friday:
New Zealand building permits, Japan unemployment rate, industrial output, retail sales, consumer confidence, construction orders, housing starts, China NBS manufacturing PMI, caixin manufacturing PMI.
Germany import prices, retail sales, unemployment change, unemployment rate, U.K. current account, GDP, nationwide house prices, Swiss retail sales, KOF indicator, France CPI, consumer spending, producer prices, Italy unemployment rate, CPI, EU HICP, unemployment rate.
U.S. personal spending, personal income, core PCE price index, Chicago PMI, University of Michigan sentiment and Canada budget balance.

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

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

USD/JPY - 144.36
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thur, subsequent selloff to 140.36 on BoJ's 'unilateral' yen intervention suggests a temporary top is made, gain to 144.90 on Tue signals correction is possibly over.

Dollar's daily wild swings may continue and above 144.90/00 needed for stronger gain towards 145.40, 145.89, below 143.92, 143.28.

Data to be released on Friday:
Germany import prices, retail sales, unemployment change, unemployment rate, U.K. current account, GDP, nationwide house prices, Swiss retail sales, KOF indicator, France CPI, consumer spending, producer prices, Italy unemployment rate, CPI, EU HICP, unemployment rate.
U.S. personal spending, personal income, core PCE price index, Chicago PMI, University of Michigan sentiment and Canada budget balance.

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

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

EUR/USD - 0.9798
Although euro's upmove from last Wednesday's fresh 2-decade bottom at 0.9537 to as high as 0.9853 (Europe) Friday suggests recent downtrend has made a temporary low, subsequent retreat to 0.9735 in New York morning would bring choppy sideways trading.

Above 0.9853 would extend marginal gain, loss of upward momentum should cap price below 0.9908.
Below 0.9735 signals first leg of correction over and heads back towards 0.9636.

Data to be released later:
Australia manufacturing PMI, Japan Tankan big manufacturing PMI, Tankan small manufacturing PMI, Jibun bank manufacturing PMI, China market holiday.
Swiss CPI, manufacturing PMI, France budget balance, S n P manufacturing PMI, Italy S n P manufacturing PMI, Germany S n P manufacturing PMI, EU S n P manufacturing PMI.
U.K. S n P manufacturing PMI, Canada S n P manufacturing PMI, U.S. S n P manufacturing PMI, construction spending and ISM manufacturing PMI on Monday.

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

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

USD/JPY - 145.00
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thur, subsequent selloff to 140.36 on BoJ's 'unilateral' yen intervention suggests a temporary top is made, gain to 144.90 on Tuesday signals correction is possibly over.

Dollar's daily wild swings may continue and above 144.90/00 needed for stronger gain towards 145.40, 145.89, below 143.92, 143.28.

Data to be released later:
Swiss CPI, manufacturing PMI, France budget balance, S n P manufacturing PMI, Italy S n P manufacturing PMI, Germany S n P manufacturing PMI, EU S n P manufacturing PMI.
U.K. S n P manufacturing PMI, Canada S n P manufacturing PMI, U.S. S n P manufacturing PMI, construction spending and ISM manufacturing PMI on Monday.

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

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

EUR/USD - 0.9972
Yesterday's impressive rally from 0.9807 (Asia) to as high as 0.9999 in New York due to broad-based usd's weakness on falling U.S. yields and market's risk-on sentiment suggests recent rise from September's 2-decade trough at 0.9837 remains in progress, however, overbought condition would cap price below res at 1.0050 and risk has increased for a retracement to occur.

On the downside, below 0.9900 signals 1st leg of correction is possibly over and brings weakness towards 0.9853, however, reckon 0.9807 should remain intact.

Data to be released on Wednesday :
Australia services PMI, Japan Jibun bank services PMI, New Zealand RBNA interest rate decision, China market holiday, Germany exports, imports, trade balance, current account.
France industrial output, 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, U.K. S n P global services PMI.
U.S. MBA mortgage application, ADP employment change, international trade balance, goods trade balance, S n P global services PMI, ISM non-manufacturing PMI, Canada building permits, trade balance, exports and imports.

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

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

USD/JPY - 144.44
Despite dollar's brief gain to a fresh 24-year peak of 145.89 after BoJ's dovish hold last Thursday, subsequent selloff to 140.36 on BoJ's 'unilateral' yen intervention suggests a temporary top is made, gain to 144.90 on Tue signals correction is possibly over.

Dollar's daily wild swings may continue and above 144.90/00 needed for stronger gain towards 145.40, 145.89, below 143.92, 143.28.

Data to be released on Wednesday :
France industrial output, 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, U.K. S n P global services PMI.
U.S. MBA mortgage application, ADP employment change, international trade balance, goods trade balance, S n P global services PMI, ISM non-manufacturing PMI, Canada building permits, trade balance, exports and imports.

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