AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

AceTraderFx May 20: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 20 May 2022 03:00GMT

EUR/USD - 1.0578
Although euro's rally above 1.0563 (Wednesday) to 1.0608 in New York yesterday on broad-based weakness in usd due to fall in U.S. yields suggests recent corrective upmove from last Friday's 5-year bottom at 1.0350 would extend marginally and gain towards 1.0625 may be seen, reckon 1.0641 would remain intact and yield retreat due to loss of momentum.

On the downside, a daily close below 1.0541 would signal top is possibly made and further weakness to 1.0507/10 is seen Mon.

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

 

[AceTRaderForex]

AceTraderFx May 20: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 20 May 2022 09:30GMT

USD/JPY - 127.98
Although dollar's rebound after yesterday's selloff below 128.02 to a 3-week bottom at 127.04 in New York on broad-based usd's retreat in tandem with U.S. yields suggests decline from May's fresh 20-year 131.34 peak has made a temporary low there, intra-day retreat from 128.21 in Asia suggests consolidation with mild downside bias remains and below 127.53 would re-test 127.04, break would extend said fall to 126.80 later.

On the upside, only a daily close above 128.21 would bring stronger retracement to 128.68 but 128.94 may hold.

Data to be released on Friday:
U.K. Gfk consumer confidence, PSNB, retail sales, Germany producer prices and Swiss industrial production.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0579
Euro's retreat from 1.0598 to 1.0534 in New York on Fri suggests corrective upmove from May's fresh 5-year bottom at 1.0350 has made a temporary top at Thur's near 2-week peak at 1.0608 and minor consolidation is seen, a daily close below 1.0534 would yield weakness towards 1.0507, then 1.0461/66.

On the downside, only above 1.0598 would bring re-test of 1.0608 but loss of momentum should cap euro below 1.0641 and yield retreat later.

Data to be released later :
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index and Canada Market Holiday on Monday.

 

[AceTRaderForex]

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

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

USD/JPY - 127.56
Dollar's intra-day strong rebound from 127.16 in Asia on news of possible lifting of US tariff on China suggests further choppy trading above last Thur's 3-week bottom at 127.04 would continue with mild upside bias but above 128.29 needed to head back towards 128.68.

On the downside, only a daily close below 127.04 would extend fall from May's fresh near 20-year 131.34 peak to 126.75/85 before recovery later.

Data to be released later :
Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index and Canada Market Holiday on Monday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0678
Euro's rally above last week's high at 1.3608 (Thursday) to as high as 1.3697 in New York Monday on hawkish comments from ECB's Lagarde suggests corrective upmove from May's 5-year bottom at 1.0350 would extend towards 1.0738 but reckon 1.0762/67 should cap upside and yield retreat today.

On the downside, only a daily close below 1.0641 would signal a temporary top is made and risk weakness towards 1.0608, break, 1.0563.

Data to be released on Tuesday:
New Zealand retail sales, Australia S&P Global manufacturing PMI, S&P Global services PMI.
U.K. Rightmove house price, PSNB, PSNCR, S&P Global manufacturing PMI, S&P Global services PMI, CBI distributive trade, France business climate, S&P Global manufacturing PMI, S&P Global services PMI, Germany S&P Global manufacturing PMI, S&P Global services PMI, EU S&P Global manufacturing PMI, S&P Global services PMI.
U.S. building permits, redbook, S&P Global manufacturing PMI, S&P Global services PMI , new home sales and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 24 May 2022 09:30GMT

USD/JPY - 127.38
Dollar's selloff to last Thur's 3-week bottom at 127.04 suggests a long-awaited correction of recent uptrend has occured and despite intra-day recovery to 128.08 in Asia, subsequent retreat signals consolidation with downside bias remains for re-test of said support, break would extend said decline to 126.70/80.

On the upside, only a daily close above 128.29 would indicate aforesaid pullback over and risk stronger gain to 128.65/68.

Data to be released on Tuesday:
U.K. Rightmove house price, PSNB, PSNCR, S&P Global manufacturing PMI, S&P Global services PMI, CBI distributive trade, France business climate, S&P Global manufacturing PMI, S&P Global services PMI, Germany S&P Global manufacturing PMI, S&P Global services PMI, EU S&P Global manufacturing PMI, S&P Global services PMI.
U.S. building permits, redbook, S&P Global manufacturing PMI, S&P Global services PMI , new home sales and Richmond Fed manufacturing.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0728
Although euro's rally above 1.0697 (Mon) to a 1-month peak at 1.0748 in New York after hawkish comments from ECB's Lagarde suggests upmove from May's 5-year bottom at 1.0350 would extend marginally, reckon 1.0770/75 would remain intact and yield prospect of another fall due to loss of momentum.

On the downside, daily close below 1.0697 would indicate a temporary top is in place and yield weakness towards 1.0662, break, 1.0608/10 later.

Data to be released on Wednesday:
Australia construction work done, New Zealand RBNZ interest rate decision, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer confidence, France consumer confidence, Swiss investor sentiment, U.S. mortgage application, durable goods, durables ex-transport and durables ex-defense.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 25 May 2022 09:30GMT

USD/JPY - 127.04
Dollar's selloff to last Thur's 3-week bottom at 127.04 suggests a long-awaited correction of recent uptrend has occured and despite intra-day recovery to 128.08 in Asia, subsequent retreat signals consolidation with downside bias remains for re-test of said support, break would extend said decline to 126.70/80.

On the upside, only a daily close above 128.29 would indicate aforesaid pullback over and risk stronger gain to 128.65/68.

Data to be released on Wednesday:
Germany GDP, Gfk consumer confidence, France consumer confidence, Swiss investor sentiment, U.S. mortgage application, durable goods, durables ex-transport and durables ex-defense.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0700
Euro's strong retreat from Tue's 1-month peak at 1.0748 to as low as 1.0643 at New York open yesterday on rebound in usd suggests upmove from May's 5-year bottom at 1.0350 has made a temporary top there and weakness to 1.0620/25 is envisaged after consolidation, break would extend towards 1.0588 later next week.

On the upside, only a daily close above 1.0723 would risk stronger gain towards 1.0748, break, 1.0771.

Data to be released on Thursday:
Australia capital expenditure, building carpex.
Germany Market Holiday, France Market Holiday, Swiss Market Holiday, Italy business confidence, consumer confidence, industrial sales.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing, Canada retail sales and average weekly earnings.

 

[AceTRaderForex]

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

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

USD/JPY - 126.78
Dollar's intra-day selloff from 127.58 on hawkish comments from BoJ's Kuroda in Europe suggests correction from Tuesday's 1-month bottom at 126.37 has possibly ended there and below would extend decline from May's 20-year peak at 131.34 to 126.10/20 before prospect of recovery tomorrow.

On the upside, only a daily close above 121.10/20 would signal aforesaid pullback over and risk stronger gain towards 127.58.

Data to be released on Thursday:
Germany Market Holiday, France Market Holiday, Swiss Market Holiday, Italy business confidence, consumer confidence, industrial sales.
U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing, Canada retail sales and average weekly earnings.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0737
Euro's strong rebound from 1.0663 to 1.0731 in New York on broad-based usd's weakness due to rally in U.S. stocks suggests pullback form Tue's 1-month 1.0748 peak has possibly ended and above would extend upmove from May's 5-year bottom at 1.0350 to 1.0780/90, however, loss of momentum should cap price below 1.0807 and yield decline later.

On the downside, only a daily close below 1.0690/95 would indicate a temporary top possibly made and yield weakness towards 1.0663, then 1.0643 Mon.

Data to be released on Friday:
Japan Tokyo CPI, Australia retail sales, Italy trade balance.
U.S. personal income, personal spending, PCE price index, goods trade balance, wholesale inventories, University of Michigan sentiment and Canada budget balance.

 

[AceTRaderForex]

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

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

USD/JPY - 127.10
Despite dollar's sharp fall from 157.58 to as low as 126.56 in Europe Thursday on hawkish comments from BOJ's Kuroda, subsequent strong rebound suggests further choppy trading above Tue's 1-month bottom at 126.37 would continue and above 157.58 would bring stronger retracement of decline from May's 20-year 131.34 peak towards 128.08.

On the downside, a daily close below 126.56 needed for re-test of 126.37, break would head to 126.10/20 before recovery.

Data to be released on Friday:
U.S. personal income, personal spending, PCE price index, goods trade balance, wholesale inventories, University of Michigan sentiment and Canada budget balance.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0734
Although euro's retreat from Fri's 1-month peak at 1.0764 signals corrective upmove from May's 5-year bottom at 1.0350 has ended, subsequent strong bounce to 1.0750 in New York on risk sentiment suggests choppy swings would be seen and above 1.0764 would extend to 1.0787/92 before decline due to loss of momentum.

On the downside, a daily close below 1.0698 would revive bearishness for weakness towards 1.0643, break, 1.0608 later.

Data to be released later today :
Germany import prices, Swiss non-farm payrolls, KOF indicator, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada current account.
U.S. Market Holiday on Monday.

 

[AceTRaderForex]

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

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

USD/JPY - 127.35
Although dollar's rebound to 127.58 (Thursday) after last week's resumption of decline to a 1-month bottom at 126.37 in New York Tuesday suggests further choppy sideways swings would continue, as long as 127.58 holds, bearishness remains for prospect of another fall, below 126.37 would extend towards 126.01 later.

On the upside, only a daily close above 127.58 would yield stronger gain towards 127.67 but 128.08 should cap upside.

Data to be released later today :
Germany import prices, Swiss non-farm payrolls, KOF indicator, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP, Canada current account.
U.S. Market Holiday on Monday.

 

[AceTRaderForex]

AceTraderFx May 31: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2022 03:00GMT

EUR/USD - 1.0747
Euro's intra-day strong retreat in Asia on broad-based rebound in usd suggests recent corrective upmove from May's 5-year bottom at 1.0350 has possibly made a temporary top at yesterday's fresh 1-month peak at 1.0786 and further weakness to 1.0727/31 would be seen, below would head towards 1.0698, 1.0663 later.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk one more rise towards 1.0807.

Data to be released on Tuesday :
New Zealand building permits, NBNA business outlook, NBNA own activity, Japan unemployment rate , industrial production, retail sales, consumer confidence, construction orders, Australia building permits, business inventories, current account, net exports contribution, China NBS manufacturing PMI, NBS non-manufacturing PMI.
U.K. nationwide house price, Swiss exports, imports, trade balance, retail sales, GDP, France consumer spending, GDP, CPI, producer prices, Germany unemployment rate, unemployment change, Italy GDP, CPI, EU HICP, Canada GDP.
U.S. monthly home price, Chicago PMI, consumer confidence and Dallas Fed manufacturing business index.

 

[AceTRaderForex]

AceTraderFx May 31: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2022 09:30GMT

USD/JPY - 127.73
Despite dollar's intra-day rally above 127.82 (Mon) to 127.33 in Asia on active selling in yen, subsequent retreat in European morning in tandem with U.S. yields suggests recovery from May's 1-month bottom at 126.37 has ended there and below 127.58 would yield further weakness to 127.20/25 later.

On the upside, above 128.00 would indicate pullback over and re-test of 128.33 would be seen, but break needed for further gain to 128.50/55, 128.86.

Data to be released on Tuesday :
U.K. nationwide house price, Swiss exports, imports, trade balance, retail sales, GDP, France consumer spending, GDP, CPI, producer prices, Germany unemployment rate, unemployment change, Italy GDP, CPI, EU HICP, Canada GDP.
U.S. monthly home price, Chicago PMI, consumer confidence and Dallas Fed manufacturing business index.

 

[AceTRaderForex]

AceTraderFx Jun 01 Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2022 03:00GMT

EUR/USD - 1.2611
Although euro's selloff from Mon's fresh 1-month peak at 1.0786 to as low as 1.0680 in New York Tue on broad-based usd's rebound in tandem with U.S. yields suggests correction from May's 5-year bottom at 1.0350 has made a temporary top there, subsequent strong rebound on retreat in usd would yield consolidation before prospect of another fall, below 1.0680 would bring stronger retracement towards 1.0643.

On the upside, only a daily close above 1.0786 would indicate aforesaid pullback over and risk stronger gain towards 1.0807

Data to be released on Wednesday:
Australia AIG manufacturing index, manufacturing PMI, GDP.
U.K. BRC shop price index, S&P Global manufacturing PMI, Japan business capex, Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, S&P Global manufacturing PMI, France budget balance, S&P Global manufacturing PMI, Swiss manufacturing PMI, Italy S&P Global manufacturing PMI, unemployment rate, EU S&P Global manufacturing PMI, unemployment rate.
U.S. mortgage application, ADP employment change, redbook, S&P Global manufacturing PMI, construction spending, ISM manufacturing PMI, JOLTS job openings, Canada BOC rate decision and S&P Global manufacturing PMI.

 

[AceTRaderForex]

AceTraderFx Jun 01: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 01 Jun 2022 09:30GMT

USD/JPY - 129.46
Dollar's rally above 127.82 (Mon) to 128.88 in New York Tuesday in tandem with US yields and intra-day break there suggests decline from May's 20-year peak at 131.34 has ended at 126.37 (Tuesday) and further gain towards 129.44 is envisaged but 129.77 should remain intact initially.

On the downside, only a daily close below 128.78/88 would indicate temporary top made and risk weakness towards 128.33.

Data to be released on Wednesday:
U.K. BRC shop price index, S&P Global manufacturing PMI, Japan business capex, Jibun bank manufacturing PMI, China Caixin manufacturing PMI, Germany retail sales, S&P Global manufacturing PMI, France budget balance, S&P Global manufacturing PMI, Swiss manufacturing PMI, Italy S&P Global manufacturing PMI, unemployment rate, EU S&P Global manufacturing PMI, unemployment rate.
U.S. mortgage application, ADP employment change, redbook, S&P Global manufacturing PMI, construction spending, ISM manufacturing PMI, JOLTS job openings, Canada BOC rate decision and S&P Global manufacturing PMI.

 

[AceTRaderForex]

AceTraderFx Jun 02: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2022 03:00GMT

EUR/USD - 1.0646
Euro's selloff from Monday's 1-month 1.0786 high to 1.0680 Tuesday and yesterday's break there to as low as 1.0628 in New York on rally in usd in tandem with US yields suggests correction from May's 5-year trough of 1.0350 has made a temporary top there and further weakness towards 1.0608 would be seen but oversold condition should keep price above 1.0568 and yield rebound.

On the upside, only a daily close above 1.0680 would indicate pullback over and risk stronger gain towards 1.0706 before down.

Data to be released on Thursday:
New Zealand import prices, export prices, Australia trade balance, imports, exports.
Swiss CPI, U.K. Market Holiday, Italy Market Holiday, EU producer prices.
Canada building permits, U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durables goods, durable ex-transport and factory orders.

 

[AceTRaderForex]

AceTraderFx Jun 02: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 02 Jun 2022 09:30GMT

USD/JPY - 129.93
Dollar's rally above 128.88 (Tue) to as high as 130.18 in New York Wednesday on usd's strength due to rally in U.S. yields and intra-day break there suggests correction from May's 20-year peak at 131.34 has ended at 126.37 (Tue) and present retreat would yield consolidation before prospect of another rise towards 130.40 later.

On the downside, only a daily close below 129.77 may indicate a temporary top made and risk stronger retracement to 129.21/25 before rebound.

Data to be released on Thursday:
Swiss CPI, U.K. Market Holiday, Italy Market Holiday, EU producer prices.
Canada building permits, U.S. initial jobless claims, continuing jobless claims, labor costs, productivity, durables ex-defense, durables goods, durable ex-transport and factory orders.