AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

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

EUR/USD - 1.1047
Although euro's erratic rise from Monday's 1.0902 low to as high as 1.1047 in post-FOMC trading Wednesday and intra-day break there in Australia suggests further choppy trading above March's fresh 22-month trough at 1.0807 would continue, however, reckon 1.1060/65 would hold and yield another fall, below 1.1015/20, 1.0951 (New York), break, 1.0927.

On the upside, only a daily close above 1.1094 would risk re-test of 1.1120, break, 1.1146 later.

Data to be released on Thursday:
Japan machinery orders, Australia employment change, unemployment rate.
Swiss exports, imports, trade balance, EU HICP, U.K. BoE interest rate decision, asset purchase program, BoE QE total, BoE QE Corp bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. Philly Fed manufacturing index, initial jobless claims, continuing jobless claims, housing starts, building permits, industrial production, capacity utilization and manufacturing output.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 17 Mar2022 09:30GMT

USD/JPY - 118.75
Although the greenback's retreat after yesterday's brief spike to a fresh 5-year peak at 119.12 in tandem with U.S. yields on expected Fed's rate hike signals consolidation is in store, reckon 118.40/45 would hold and yield another rise later, above said resistance would extend to 119.25 but 119.35/45 should hold.

On the downside, only a daily close below 118.18 would indicate a temporary top is made and risk stronger retracement to 117.90/00.

Data to be released on Thursday:
Swiss exports, imports, trade balance, EU HICP, U.K. BoE interest rate decision, asset purchase program, BoE QE total, BoE QE Corp bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. Philly Fed manufacturing index, initial jobless claims, continuing jobless claims, housing starts, building permits, industrial production, capacity utilization and manufacturing output.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1086
Euro's strong rebound from last Monday's fresh 22-month bottom at 1.0807 signals erratic decline from 1.1495 (February) has made a low there and yesterday's break of last Thursday's 1.1120 top to a 12-day peak at 1.1137 in New York on broad-based usd's weakness signals gain to 1.1145/55 is envisaged but 1.1187 should hold.

On the downside, only a daily close below Wednesday's 1.1009 trough signals temporary top is made and would risk weakness to 1.0951/55 on next Monday.

Data to be released on Friday:
New Zealand GDP, Japan nationwide CPI, BOJ interest rate decision, tertiary industry activity.
Italy trade balance, EU labour costs, trade balance, Canada retail sales, new housing price index, U.S. leading index change and existing home sales.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 18 Mar2022 09:30GMT

USD/JPY - 118.89
Although the greenback's retreat from Wed's fresh 5-year peak at 119.12 to 128.37 in New York yesterday on broad-based usd's weakness due to return of risk sentiment signals recent erratic upmove has made a temporary top there, intra-day rebound from 118.48 in Asia suggests consolidation with upside bias remains for re-test of said resistance, break would extend said rise to 119.25/35.

On the downside, only a daily close below 118.37 would risk stronger retracement towards 118.18, break, 117.71/75.

Data to be released on Friday:
Italy trade balance, EU labour costs, trade balance, Canada retail sales, new housing price index, U.S. leading index change and existing home sales.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1047
Euro's strong retreat from last Friday's 12-day high at 1.1137 to as low as 1.1004 in New York signals corrective upmove from March's fresh 22-month bottom at 1.0807 has possibly made a temporary top there and consolidation with downside bias remains, below 1.1004 would yield further weakness towards 1.0972 but 1.0951 should remain intact.

On the upside, only a daily close above 1.1094 would dampen bearishness and risk stronger gain to 1.1118/20, break, 1.1137 again.

Data to be released next week :
New Zealand exports, trade balance, imports, Japan Market Holiday.
U.K. Rightmove house price, Germany producer prices.
U.S. national activity on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 21 Mar2022 09:30GMT

USD/JPY - 119.21
Dollar's rally above last Wed's 119.12 high to a 6-year peak at 119.39 in New York Friday on renewed usd's strength suggests recent erratic upmove would extend to 119.85 after consolidation, however, loss of momentum should cap price below 'psychological ' 120.00 handle and yield minor correction.

On the downside, only a daily close below 118.76 may signal a temporary top is in place and risk has increased for stronger retracement to 118.37/40 later.

Data to be released today:
U.K. Rightmove house price, Germany producer prices.
U.S. national activity on Monday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1010
Euro's strong retreat from last Thursday's 12-day high of 1.1137 to 1.1004 Friday suggests corrective upmove from March's fresh 22-month bottom at 1.0807 has made a temporary top there and yesterday's retreat from 1.1069 to 1.1011 near New York close on renewed usd's strength has retained bearishness, below 1.1004 would pressure price towards 1.0972 but 1.0951 may hold.

On the upside, only a daily close above 1.1071 would risk stronger gain towards 1.1094, break, 1.1118 later.

Data to be released on Tuesday:
Australia Westpac consumer survey, EU current account, construction output.
U.K. PSNCR, PSNB.
Canada producer prices, U.S. redbook and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 22 Mar2022 09:30GMT

USD/JPY - 120.62
Dollar's rally above last Wednesday's 119.12 high to a 6-year peak at 119.39 in New York Fri on renewed usd's strength suggests recent erratic upmove would extend to 119.85 after consolidation, however, loss of momentum should cap price below 'psychological ' 120.00 handle and yield minor correction.

On the downside, only a daily close below 118.76 may signal a temporary top is in place and risk has increased for stronger retracement to 118.37/40 later.

Data to be released on Tuesday:
Australia Westpac consumer survey, EU current account, construction output.
U.K. PSNCR, PSNB.
Canada producer prices, U.S. redbook and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1028
Although euro's decline from last week's high at 1.1137 (Thur) to as low as 1.0961 at European open yesterday signals corrective upmove from Mar's fresh 22-month bottom at 1.0807 has possibly made a temporary top there, subsequent rebound to 1.1045 in New York due to broad-based retreat in usd on risk sentiment suggests retracement to 1.1069/71 may be seen before prospect of another fall.

On the upside, only a daily close above 1.1094 would risk stronger gain towards 1.1118.

Data to be released on Wednesday:
Japan coincident index, leading indicator.
U.K. PPI output prices, input prices, RPI, CPI, DCLG house price index.
U.S. MBA mortgage application, building permits, new home sales and EU consumer confidence.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 23 Mar2022 09:30GMT

USD/JPY - 120.94
Dollar's rally above last Wed's 119.12 high to a 6-year peak at 119.39 in New York Fri on renewed usd's strength suggests recent erratic upmove would extend to 119.85 after consolidation, however, loss of momentum should cap price below 'psychological ' 120.00 handle and yield minor correction.

On the downside, only a daily close below 118.76 may signal a temporary top is in place and risk has increased for stronger retracement to 118.37/40 later.

Data to be released on Wednesday:
U.K. PPI output prices, input prices, RPI, CPI, DCLG house price index.
U.S. MBA mortgage application, building permits, new home sales and EU consumer confidence.

 

[AceTRaderForex]

AceTraderFx Mar 24: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 24 Mar 2022 03:00GMT

EUR/USD - 1.0990
Yesterday's weakness to 1.0965 (New York) suggests correction from this week's low at 1.0961 Tuesday) has ended at 1.1045 and despite subsequent short-covering rebound to 1.1013 in Asia today, present retreat has retained bearishness, below 1.0961 would extend decline from 1.1137 to retrace March's 22-month bottom at 1.0807 to 1.0933 (61.8% r) later today.

Only a daily close above 1.1045 'prolongs' choppy sideways swings and may risk stronger gain to 1.1069/71.

Data to be released on Thursday:
Australia services PPI, manufacturing PMI, Japan Jibun bank manufacturing PMI, services PMI.
France business climate, Markit services PMI, Markit manufacturing PMI, Germany Markit services PMI, Markit manufacturing PMI, Swiss SNB interest rate decision, EU Markit services PMI, Markit manufacturing PMI, U.K. Markit services PMI, Markit manufacturing PMI.
U.S. continuing jobless claims, initial jobless claims, PCE prices, GDP, durables ex-defense, durables ex-transport, durable goods, current account, Markit services PMI, Markit manufacturing PMI and KC Fed manufacturing.

 

[AceTRaderForex]

AceTraderFx Mar 24: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Mar2022 09:30GMT

USD/JPY - 121.51
The greenback's intra-day firm break above yesterday's fresh 6-year peak at 121.41 suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.

On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.

Data to be released on Thursday:
France business climate, Markit services PMI, Markit manufacturing PMI, Germany Markit services PMI, Markit manufacturing PMI, Swiss SNB interest rate decision, EU Markit services PMI, Markit manufacturing PMI, U.K. Markit services PMI, Markit manufacturing PMI.
U.S. continuing jobless claims, initial jobless claims, PCE prices, GDP, durables ex-defense, durables ex-transport, durable goods, current account, Markit services PMI, Markit manufacturing PMI and KC Fed manufacturing.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1010
Although euro's decline from last week's high at 1.1137 to as low as 1.0961 (Tuesday) suggests early correction from March's 22-month bottom at 1.0807 has possibly ended, subsequent rebound to 1.1045 the same day and then daily choppy swings on Wednesday and Thursday would bring further consolidation before prospect of another fall towards 1.0927.

On the upside, only a daily close above 1.1045 dampens bearish outlook on euro and may risk stronger gain to 1.1069/71.

Data to be released on Friday :
Japan Tokyo CPI.
U.K. Gfk consumer confidence, retail sales, Italy trade balance, business confidence, consumer confidence, Germany Ifo expectations, Ifo current conditions, Ifo business climate.
U.S. pending home sales, University of Michigan sentiment and Canada budget balance.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 Mar2022 09:30GMT

USD/JPY - 121.60
The greenback's intra-day firm break above yesterday's fresh 6-year peak at 121.41 suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.

On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.

Data to be released on Friday :
U.K. Gfk consumer confidence, retail sales, Italy trade balance, business confidence, consumer confidence, Germany Ifo expectations, Ifo current conditions, Ifo business climate.
U.S. pending home sales, University of Michigan sentiment and Canada budget balance.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0973
Despite euro's daily wild swings following early decline from 1.11737 to 1.0961 (Tuesday), intra-day weakness suggests downside bias remains, a daily close below 1.0961 would signal correction from March's 22-month bottom at 1.0807 has ended, then bearish outlook is retained for further fall towards pivotal sup at 1.0902.

Only above 1.1045 'prolongs' volatile trading and may risk another rise to 1.1069/71 but 1.1100/10 should cap upside.

Data to be released today:
U.S. wholesale inventories, goods trade balance and Dallas Fed manufacturing business index on Monday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 28 Mar2022 09:30GMT

USD/JPY - 123.94
The greenback's intra-day rally above Friday's fresh 6-year peak at 122.43 on BoJ's monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.

On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.

Data to be released today:
U.S. wholesale inventories, goods trade balance and Dallas Fed manufacturing business index on Monday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0984
Although Monday's initial break of last week's low at 1.0961 to 1.0945 in Europe suggests euro's correction from March's 22-month bottom at 1.0807 has ended, subsequent short-covering rebound to 1.0999 would yield choppy swings before prospect of another fall, loss of momentum should keep price above pivotal sup at 1.0902.

Only a daily close above 1.1000 may shift risk to the upside for risk stronger retracement to 1.1035/45.

Data to be released today:
Japan unemployment rate, Australia retail sales.
Germany import prices, Gfk consumer sentiment.
Canada average weekly earnings, U.S. redbook, monthly home price, JOLTS jobs openings and consumer confidence on Tuesday.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 29 Mar2022 09:30GMT

USD/JPY - 123.65
The greenback's intra-day rally above Friday's fresh 6-year peak at 122.43 on BoJ's monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.

On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.

Data to be released today:
Germany import prices, Gfk consumer sentiment.
Canada average weekly earnings, U.S. redbook, monthly home price, JOLTS jobs openings and consumer confidence on Tuesday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.1097
Although euro's decline from 1.1137 to 1.0945 Mon suggests recovery from Mar's fresh 22-month bottom at 1.0807 has ended, yesterday's rally from 1.0976 in Europe to as high as 1.1136 in New York following positive outcome of latest Ukraine-Russia peace talk signals choppy trading above said support would continue with upside bias and above 1.1137 may head towards 1.1167 later.

On the downside, only a daily close below 1.1045 indicates a temporary top is made and risks stronger retracement towards 1.0999, break, 1.0970/75.

Data to be released on Wednesday:
New Zealand building permits, NBNZ own activity, NBNZ business outlook.
U.K. BRC shop price index, Japan retail sales, Swiss KOF indicator, investor sentiment, Italy industrial sales, producer prices, EU consumer confidence, services sentiment, industrial sentiment, economic sentiment, business climate.
U.S. MBA Mortgage application, PCE prices, GDP, Germany HICP and CPI.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 30 Mar2022 09:30GMT

USD/JPY - 121.79
The greenback's intra-day rally above Friday's fresh 6-year peak at 122.43 on BoJ's monetary easing suggests Medium Term upmove remains in progress and further gain towards 122.00/10 would be seen after minor consolidation, however, loss of momentum would keep price below 122.40/50 and bring a much-needed correction later tomorrow or early next week.

On the downside, only below 120.60 would indicate a temporary top has been made and risk stronger retracement towards 120.20/30.

Data to be released on Wednesday:
U.K. BRC shop price index, Japan retail sales, Swiss KOF indicator, investor sentiment, Italy industrial sales, producer prices, EU consumer confidence, services sentiment, industrial sentiment, economic sentiment, business climate.
U.S. MBA Mortgage application, PCE prices, GDP, Germany HICP and CPI.