AceTraderFx : Daily Recommendations on Majors

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

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

EUR/USD - 0.9910
Euro's decline from 0.9999 (Tue) to as low as 0.9835 in New York yesterday due to broad-based usd's rebound suggests 1st leg of upmove from September's 2-decade trough at 0.9537 has ended and downside bias remains for weakness to 0.9800, reckon 0.9768 would contain downside and yield rebound today.

Intra-day strong bounce may head to 0.9950/60 before down and above may risk stronger gain to 0.9994/99 later.

Data to be released on Thursday:
Australia AIG construction index, exports, imports, trade balance, China market holiday.
Germany industrial orders, EU retail sales.
U.S. S n P construction PMI, U.S. initial jobless claims, continuing jobless claims and Canada Ivey PMI.

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

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

USD/JPY - 144.64
Although dollar's recent rise from 140.36 to 145.31 (Monday) suggests the correction from September's 24-year peak at 145.89 over, subsequent decline would yield further sideways swings, Wednesday's rise from 143.54 to 144.84 signals pullback possibly over and above 144.93 would bring stronger gain towards 145.31.

Retreat to 144.39 in Asia may prolong choppy trading before up and only below 144.27/32 risks stronger retracement towards 144.00, break, 143.70/80.

Data to be released on Thursday:
Germany industrial orders, EU retail sales.
U.S. S n P construction PMI, U.S. initial jobless claims, continuing jobless claims and Canada Ivey PMI.

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

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

EUR/USD - 0.9790
Euro's selloff yesterday from 0.9926 (Asia) and then break of Wednesday's 0.9835 low (now resistance) to 0.9789 in New York on renewed usd's strength signals decline from Tuesday's near 2-week 0.9999 high to retrace rise from September's 2-decade 0.9537 trough would head towards 0.9713 but 0.9636 should hold.

On the upside, only a daily close above 0.9835 would risk stronger gain to 0.9885/95 before down.

Data to be released on Friday:
Japan all household spending, coincident index, leading index, China market holiday.
Swiss unemployment rate, Germany import prices, industrial output, retail sales, U.K. Halifax house prices, France current account, trade balance, imports, exports, Italy retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales, Canada employment change and unemployment rate.

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

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

USD/JPY - 144.82
Despite dollar's brief but sharp fall from Sep's 24-year peak of 145.89 to 140.36 on BoJ's unilateral yen buying intervention, subsequent strong rise to 145.31 Monday signals correction over n as price has risen after retreat to 143.54, bullishness remains but above 145.89 needed to head to 146.30/40.

On the downside, a daily close below 144.39 would yield stronger retracement to 143.80/90.

Data to be released on Friday:
Swiss unemployment rate, Germany import prices, industrial output, retail sales, U.K. Halifax house prices, France current account, trade balance, imports, exports, Italy retail sales.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, wholesale inventories, wholesale sales, Canada employment change and unemployment rate.

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

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

EUR/USD - 0.9735
Euro's selloff from 0.9999 (Tue) to as low as 0.9727 Fri after robust US jobs report suggests correction from Sep's 2-decade trough at 0.9537 has possibly ended and as 0.9790 has capped recovery, bearishness remains and a daily close below 0.9713 (61.8% r) would pressure price to 0.9684, then later 0.9636/40.

On the upside, only a daily close above 0.9790 would risk stronger retracement towards 0.9816, break, 0.9835

Data to be released later:
Australia AIG services services index, Japan market holiday.
EU Sentix index.
U.S. market holiday, Canada market holiday on Monday.

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

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

USD/JPY - 145.51
Despite dollar's brief but sharp fall from Sep's 24-year peak of 145.89 to 140.36 on BoJ's unilateral yen buying intervention, subsequent strong rise to 145.31 Mon, then Fri's gain to 145.44 in post-NFP New York suggests consolidation with upside bias remains for re-test 145.89, above may head towards 146.30.

On the downside, only a daily close below 144.93 would risk stronger retracement towards 144.64.

Data to be released later:
EU Sentix index.
U.S. market holiday, Canada market holiday on Monday.

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

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

EUR/USD - 1.1074
Euro's selloff last week from 0.9999 (Tue) to 0.9727 Fri after robust US jobs report, then weakness to 0.9683 in Europe Mon signals correction from Sep's 24-year trough at 0.9537 has ended and may head back towards 0.9636 before recovery due to 'loss of momentum'.

On the upside, only a daily close above 0.9753 (Asia high) would risk stronger retracement to 0.9780/90.

Data to be released on Tuesday :
New Zealand retail sales, Australia consumer sentiment, NAB business conditions, NAB business confidence, Japan current account, eco watchers current, eco watchers account.
U.K. BRC retail sales, U.K. climate count, ILO unemployment rate, employment change, average weekly earnings, Italy industrial output, Swiss leading index.
U.S. redbook.

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

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

USD/JPY - 145.53
Despite dollar's brief but sharp fall from Sep's 24-year peak of 145.89 to 140.36 on BoJ's unilateral yen buying intervention, subsequent strong rise in tandem with US yields to 145.85 yesterday would re-test 145.89 and above would head to 146.30, then towards 146.96.

Stand aside initially due to BoJ's intervention risk and only a daily close below 145.24 would yield stronger retracement towards 144.96, then 144.64.

Data to be released on Tuesday :
U.K. BRC retail sales, U.K. climate count, ILO unemployment rate, employment change, average weekly earnings, Italy industrial output, Swiss leading index.
U.S. redbook.

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

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

EUR/USD - 0.9691
Euro's decline from last Tue's near 2-week high of 0.9999 to as low as 0.9672 yesterday suggests correction from Sep's 2-decade bottom at 0.9537 has ended and despite erratic rise to 0.9774 in New York, subsequent GBP-led fall to 0.9695 would head towards 0.9636 but 0.9602 should hold.

On the upside, only a daily close above 0.9774 may risk stronger retracement to 0.9800/10 before down.

Data to be released on Wednesday:
Japan machinery orders.
U.K. GDP, industrial output, manufacturing output, construction output, trade balance, EU industrial output.
U.S. MBA mortgage application and U.S. PPI.

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

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

USD/JPY - 146.23
Dollar's intra-day rally above Sep's 24-year peak at 145.89 to 146.38 in Asia signals long term upmove has once again resumed and despite intervention warnings by Japan officials, outlook remains bullish for gain towards next projected target at 146.96 'later'.

On the downside, only a daily close below 145.71/74 would indicate temporary top made and risk stronger retracement towards 145.43, break, 144.93/03.

Data to be released on Wednesday:
U.K. GDP, industrial output, manufacturing output, construction output, trade balance, EU industrial output.
U.S. MBA mortgage application and U.S. PPI.

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

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

EUR/USD - 0.9704
Euro's decline from last Tue's near 2-week high of 0.9999 to as low as 0.9669 yesterday suggests correction from Sep's 2-decade bottom at 0.9537 has ended and subsequent bounce in New York would bring consolidation, reckon 0.9774 would hold and yield one more fall.

On the downside, a daily close below 0.9669 would revive bearishness for one more fall towards 0.9636, break, 0.9602.

Data to be released on Thursday:
New Zealand food price index, Australia consumer inflation expectation, Japan producer prices.
Germany CPI, Swiss producer/import prices.
U.S. CPI, initial jobless claims and continuing jobless claims.

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

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

USD/JPY - 146.82
Dollar's rally on Wed above Sep's 24-year peak at 145.89 in Asia to 146.38 and subsequent gain on broad-based yen selling to 146.98 in New York suggests long term uptrend would head to 147.30, however, overbought condition would cap price below 1998 peak at 147.64 and yield a much-needed correction.

On the downside, only a daily close below 146.38 would indicate a temporary top is in place and risk stronger retracement towards 145.89, then possibly 145.43.

Data to be released on Thursday:
Germany CPI, Swiss producer/import prices.
U.S. CPI, initial jobless claims and continuing jobless claims.

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

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

EUR/USD - 0.9800
Euro's impressive rally from Thur's 2-week trough at 0.9632 after release of hot U.S. CPI and rally in U.S. yields to as high as 0.9802 due to broad-based profit taking on recent long usd positions suggests recent decline from Oct's 0.9999 peak has made a low and as long as 0.9700/10 holds, stronger retracement to 0.9835/45 would be seen but 0.9890/00 should cap upside.

Only below 0.9700 signals rebound is over and shifts risk to downside for weakness twd 0.9632 on Monday.

Data to be released on Friday :
New Zealand manufacturing PMI, China PPI, CPI, exports, imports, trade balance, Japan tertiary industrial activities.
Germany wholesale price index, France CPI, EU trade balance.
U.S. import prices, export prices, retail sales, business inventories, University of Michigan sentiment, Canada manufacturing sales and wholesales trade.

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

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

USD/JPY - 147.62
Dollar's rally on Wed above Sep's 24-year peak at 145.89 in Asia to 146.38 and subsequent gain on broad-based yen selling to 146.98 in New York suggests long term uptrend would head to 147.30, however, overbought condition would cap price below 1998 peak at 147.64 and yield a much-needed correction.

On the downside, only a daily close below 146.38 would indicate a temporary top is in place and risk stronger retracement towards 145.89, then possibly 145.43.

Data to be released on Friday :
Germany wholesale price index, France CPI, EU trade balance.
U.S. import prices, export prices, retail sales, business inventories, University of Michigan sentiment, Canada manufacturing sales and wholesales trade.

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

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

EUR/USD - 0.9744
Although euro's fall from Oct's 0.9999 high to as low as 0.9632 last week (Thur) signals correction from Sep's 2-decade trough at 0.9537 has ended, subsequent short-covering rally to 0.9808 Fri would yield choppy swings.

Below 0.9708 (NY low) would head back towards 0.9632 later and only above 0.9808 risks stronger retracement of said decline to 0.9835 but reckon 0.9880/90 should cap upside.

Data to be released later :
U.K. Rightmove house price, Japan tertiary industry activities, industrial output, capacity utilization, Italy CPI, U.S. New York Fed manufacturing and Federal budget on Monday.

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

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

USD/JPY - 148.77
Despite Fri's anticipated gain to a fresh 32-year high of 148.86 due to renewed usd's strength in choppy New York trading, overbought condition and weekend's warnings by JP officials on yen strength (see MMN) may prevent strong gain above projected resistance at 149.10/20.

On the downside, only a daily close below 148.00/10 needed
to signal temporary top is made and yield weakness towards 147.67, break, 147.25.

Data to be released later :
U.K. Rightmove house price, Japan tertiary industry activities, industrial output, capacity utilization, Italy CPI.
U.S. New York Fed manufacturing and Federal budget on Monday.

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

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

EUR/USD - 0.9846
Although euro's decline from 0.9999 (Oct high) to as low as 0.9632 (Thur) last week signals correction from Sep's 2-decade trough at 0.9537 has ended, subsequent bounce to 0.9808 (Fri), then Mon's rally to 0.9852 would yield further choppy swings. However, as long as 0.9808 holds. gain to 0.9884 is seen but 0.9926 would cap upside and yield retreat.

On the downside, only a daily close below 0.9770 would indicate temporary top is in place and weakness to 0.9708/10 is seen.

Data to be released on Tuesday:
New Zealand CPI, GDT price index, China industrial output, retail sales, GDP.
Italy trade balance, EU ZEW survey expectations, Germany ZEW economic sentiment, ZEW current conditions.
Canada housing starts, U.S. redbook, industrial production, capacity utilization, manufacturing output and NAHB housing market index.

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

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

USD/JPY - 149.02
Despite dollar's marginal rise above Fri's fresh 32-year 148.86 high to 149.08 in New York on cross-selling in yen, near term loss of upward momentum is likely to cap price below 149.50 and yield a much-needed minor retracement, below 148.42 would head back to 148.00/05.

On the upside, only a daily close below above 149.50 would risk stronger gain to 149.90/00.

Data to be released on Tuesday:
Italy trade balance, EU ZEW survey expectations, Germany ZEW economic sentiment, ZEW current conditions.
Canada housing starts, U.S. redbook, industrial production, capacity utilization, manufacturing output and NAHB housing market index.

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

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

EUR/USD - 0.9855
Although euro's decline from 0.9999 (Oct high) to as low as 0.9632 (Thur) last week signals correction from Sep's 2-decade trough at 0.9537 has ended, subsequent bounce to 0.9808 (Fri), then Tue's gain to 0.9875 (New York) would yield further 'choppy' swings before another fall and below 0.9808 would yield further weakness towards 0.9770.

On the upside, a daily close above 0.9926 would bring stronger retracement to 0.9980/90.

Data to be released on Wednesday:
Australia Westpac leading index, China house prices.
U.K. CPI, RPI, PPI input prices, PPI output prices, EU construction output, HICP, U.S. MBA mortgage application, building permits, housing starts, Canada CPI and producer prices.

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

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

USD/JPY - 149.42
Despite dollar's marginal rise above Monday's fresh 32-year 149.08 high to 149.38 (New York) on cross-selling in yen, near term loss of upward momentum is likely to cap price below 149.50 and yield a much-needed correction, below 148.89 (New York low) would head to 148.42/45.

On the upside, a daily close above 149.50/60 would revive bullishness for stronger gain to 150.00 psychological handle before a much-needed correction later.

Data to be released on Wednesday:
U.K. CPI, RPI, PPI input prices, PPI output prices, EU construction output, HICP, U.S. MBA mortgage application, building permits, housing starts, Canada CPI and producer prices.

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