AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

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

EUR/USD - 1.0722
Euro's selloff from last Monday's 1-month peak at 1.0786 to 1.0628 Wed suggests corrective upmove from May's 20-year bottom at 1.0350 has made a top and despite Fri's strong rebound to 1.0764, subsequent retreat to 1.0705 in post-NFP New York on broad-based usd's strength would head back to 1.0660/65, break would yield re-test of 1.0628.

On the upside, only a daily close above 1.0764 aborts bearishness on euro and risks stronger gain towards 1.0786.

Data to be released today:
New Zealand Market Holiday, China Caixin services PMI.
France Market Holiday, Germany Market Holiday and Swiss Market Holiday on Monday.

 

[AceTRaderForex]

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

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

USD/JPY - 130.70
Dollar's rally to a 1-month peak at 130.98 in tandem with U.S. yields in post-NFP New York Friday, then to 130.99 in Australia today suggests upmove from May's 1-month bottom at 126.37 would yield re-test of May's 20-year peak at 131.34 after consolidation but above needed to extend towards 131.79 before retreat.

On the downside, only a daily close below 130.23 would signal temporary top made and risk stronger retracement to 130.00/04.

Data to be released today:
France Market Holiday, Germany Market Holiday and Swiss Market Holiday on Monday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0689
Euro's selloff from last Mon's 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite subsequent strong rebound to 1.0764 Fri, yesterday's retreat from 1.0751 to 1.0685 in New York on broad-based usd's strength due to rally in US yields has retained bearishness for 1.0660, 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Tuesday:
Australia AIG services index, RBA interest rate decision, Japan coincident index, leading indicator, all household spending.
U.K. BRC retail sales, S&P Global services PMI, Germany industrial orders, EU sentix index.
U.S. trade balance, redbook, Canada trade balance, imports, exports, Ivey PMI and New Zealand GDT price.

 

[AceTRaderForex]

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

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

USD/JPY - 132.62
Dollar's rally above May's 131.34 top to a fresh 20-year peak at 132.01 in New York Monday in tandem with U.S. yields and intra-day firm break there suggests long term uptrend has once again resumed, above 132.99 would extend towards 133.40 but 133.79 should cap upside and yield a much-needed correction due to overbought condition.

On the downside, only a daily close below 132.01 would indicate a temporary top is in place and risk stronger retracement towards 131.34.

Data to be released on Tuesday:
U.K. BRC retail sales, S&P Global services PMI, Germany industrial orders, EU sentix index.
U.S. trade balance, redbook, Canada trade balance, imports, exports, Ivey PMI and New Zealand GDT price.

 

[AceTRaderForex]

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

DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2022 03:00GMT

EUR/USD - 1.0696
Euro's selloff from last Mon's 1-month peak at 1.0786 to as low as 1.0628 (Wed) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite strong rebound to 1.0764 Fri, subsequent retreat to 1.0653 in New York Tue and then rebound would yield range trading before prospect of another fall, below 1.0653 would yield 1.0628.

On the upside, only a daily close above 1.0751 would risk stronger gain towards 1.0764 but 1.0786 should hold initially.

Data to be released on Wednesday:
Japan current account, trade balance, GDP, eco watchers current, eco watchers outlook.
Swiss unemployment rate, U.K. Halifax house prices, S&P construction PMI, Germany industrial output, France trade balance, imports, exports, Italy retail sales, EU employment, GDU.
U.S. MBA mortgage application, wholesale inventories and wholesale sales.

 

[AceTRaderForex]

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

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

USD/JPY - 133.77
Dollar's intra-day rally above Tue's fresh 20-year peak at 132.99 on continued selling in yen suggests long term upmove remains in force and marginal gain would be seen, reckon 133.80/90 would limit upside today and yield a much-needed correction due to near term loss of momentum.

On the downside, only a daily close below 132.33 would indicate temporary top made and risk stronger retracement towards

Data to be released on Wednesday:
Swiss unemployment rate, U.K. Halifax house prices, S&P construction PMI, Germany industrial output, France trade balance, imports, exports, Italy retail sales, EU employment, GDU.
U.S. MBA mortgage application, wholesale inventories and wholesale sales.

 

[AceTRaderForex]

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

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

EUR/USD - 1.07416
Euro's selloff from last Monday's 1-month peak at 1.0786 to as low as 1.0628 (Wednesday) suggests upmove from May's fresh 5-year bottom at 1.0350 has made a top there and despite strong rebound from 1.0653 (Tuesday) to 1.0748 in New York yesterday, subsequent retreat on usd's rebound signals downside bias remains and below 1.0653 would head towards 1.0628.

On the upside, only a daily close above 1.0764 would risk stronger gain towards 1.0786 but 1.0807 should hold initially.

Data to be released on Thursday:
China exports, imports, trade balance, Japan machine tool orders.
U.K. RICS housing price balance, France non-farm payrolls, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claim and continuing jobless claims.

 

[AceTRaderForex]

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

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

USD/JPY - 133.54
Despite dollar's resumption of uptrend to a fresh 20-year peak at 134.55 at Tokyo open today, subsequent retreat in tandem with U.S. yields in Europe suggests temporary top is made and 1-2 days of consolidation would be seen before marginal gain to 134.82/87 later.

On the downside, only below 133.20/25 would dampen bullishness and yield stronger retracement to 132.95/99.

Data to be released on Thursday:
U.K. RICS housing price balance, France non-farm payrolls, EU ECB refinancing rate, ECB deposit rate.
U.S. initial jobless claim and continuing jobless claims.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0614
Despite euro's rally above 1.0764 (Fri) to 1.0773 on ECB's hawkish hold, subsequent selloff after ECB Lagarde's presser and then break of previous support at 1.0628 suggests fall from May's 1-month 1.0786 peak to correct rise from 1.0350 (May low) would head towards 1.0578.

On the upside, only above 1.0653 would signal temporary low made and risk stronger gain to 1.0670/80 before down.

Data to be released on Friday:
New Zealand retail sales, manufacturing sales, Japan producer prices, China PPI, CPI.
Italy industrial sales, U.K. consumer inflation.
U.S. CPI, University of Michigan sentiment, Federal budget, Canada capacity, employment change and unemployment rate.

 

[AceTRaderForex]

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

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

USD/JPY - 133.71
Despite dollar's sharp fall from Thursday's fresh 20-year peak at 134.55 to as low as 133.19 in Europe, subsequent strong rebound to 133.44 on broad-based usd's strength and intra-day retreat suggests further choppy sideways swings in in store and above said resistance would extend long term upmove towards 2002 high at 135.20, break, 135.73 next week.

On the downside, only a daily close below 133.19 would indicate a temporary top is in place and risk stronger retracement to 132.85/95.

Data to be released on Friday:
Italy industrial sales, U.K. consumer inflation.
U.S. CPI, University of Michigan sentiment, Federal budget, Canada capacity, employment change and unemployment rate.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0490
Euro's selloff from 1.0773 in post-ECB below previous week's 1.0628 low to 1.0612 Thursday, then further weakness to as low as 1.0507 Friday due to broad-based rally in usd and intra-day break there in New Zealand suggests correction from May's 5-year bottom at 1.0350 has ended and further weakness towards 1.0461 would be seen but 1.0430/35 should hold.

On the upside, only a daily close above 1.0570/75 may risk stronger retracement towards 1.0612.

Data to be released today:
Australia Market Holiday.
UK GDP, trade balance, construction, manufacturing output, industrial output, NISER GDP.
Canada leading index on Monday.

 

[AceTRaderForex]

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

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

USD/JPY - 134.50
Despite dollar's intra-day rally above last Thursday's fresh 20-year peak at 134.55 to 135.22 in Asia on follow-through buying due to Friday's broad-based gain in usd on red hot U.S. inflation, subsequent retreat signals a temporary top is in place and consolidation is seen before prospect of another rise later.

On the downside, only a daily close below 133.90/00 would risk further weakness to 133.37, 133.19.

Data to be released today:
UK GDP, trade balance, construction, manufacturing output, industrial output, NISER GDP.
Canada leading index on Monday.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0411
Euro's selloff from Thursay's post-ECB 1.0773 high to 1.0507 last Friday and yesterday's break there to a near 1-month bottom at 1.0400 due to safe-haven usd's buying on global stock market rout and rally in US yields suggests re-test of May's 5-year trough at 1.0350 would be seen, break, 1.0310/20 later.

On the upside, only a daily close above 1.0507 would indicate a temporary low is in place and risk stronger retracement towards 1.0535.

Data to be released on Tuesday:
New Zealand food price index, Australia house price index, NAB business conditions, NAB business confidence, Japan industrial production, capacity utilization/
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany CPI, ZEW economic sentiment, ZEW economic conditions, EU ZEW survey expectations.
Canada manufacturing sales, U.S. PPI and redbook.

 

[AceTRaderForex]

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

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

USD/JPY - 134.32
Although usd's rally to a 24-year peak at 135.22 in Asia Monday and subsequent strong retreat to 133.60 in New York on active yen buying suggests long term uptrend has made a temporary top there, intra-day rebound from 133.88 on news of BOJ bond buying programme suggests consolidation with mild upside bias remains but above 134.81 needed for re-test of 135.22 .

On the downside, only a daily close below 133.60 would risk stronger retracement towards 133.19, break, 132.99.

Data to be released on Tuesday:
UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany CPI, ZEW economic sentiment, ZEW economic conditions, EU ZEW survey expectations.
Canada manufacturing sales, U.S. PPI and redbook.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0428
Although euro's selloff from Thur's post-ECB 1.0773 high to a near 1-month bottom at 1.0398 in Asia Tue due to active safe-haven usd's buying on global stock market rout and rally in US yields suggests re-test of May's 5-year trough at 1.0350 would be seen, subsequent rebound would yield range trading and below would extend towards 1.0320.

On the upside, only a daily close above 1.0507 would indicate a temporary trough is in place and risk stronger retracement towards 1.0535, then 1.0550.

Data to be released on Wednesday:
New Zealand current account, Japan machinery orders, tertiary industry activities, Australia consumer sentiment, China industrial output, retail sales.
Germany wholesale price index, Swiss producer/import price, France CPI, EU trade balance, industrial production.
U.S. MBA mortgage application, NY Fed manufacturing, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed interest rate decision and Canada housing starts.

 

[AceTRaderForex]

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

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

USD/JPY - 134.65
Despite dollar's intra-day rally above 135.22 (Monday) to a fresh 24-year high at 135.59 in Australia, subsequent retreat suggests choppy swings would be seen and a firm break below 134.80/85 is needed to signal a temporary top is in place and yield stronger retracement towards 134.36 but 134.02 should hold.

On the upside, only a daily close above 135.59 would revive bullishness for one more rise towards 135.99 before correction.

Data to be released on Wednesday:
Germany wholesale price index, Swiss producer/import price, France CPI, EU trade balance, industrial production.
U.S. MBA mortgage application, NY Fed manufacturing, import prices, export prices, retail sales, business inventories, NAHB housing market index, Fed interest rate decision and Canada housing starts.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0463
Despite euro's selloff from 1.0507 (Europe) and then break of 1.0398 (Tuesday) to a 1-month bottom at 1.0360 in post-FOMC New York on the 75 bps rate hike from the Federal Reserve, subsequent strong rebound on profiting-taking in usd suggests choppy consolidation would be seen, reckon 1.0507 would cap upside and yield decline.

On the downside, a daily close below 1.0360 would yield re-test of May's 5-year trough at 1.0350, break, 1.0320.

Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, Australia consumer inflation expectation, employment change, unemployment rate, China house price.
Swiss SNB interest rate decision, Italy CPI, EU labor costs, UK BOE interest rate decision, asset purchase program, BOE QE total, BoE QE Corp Bond Purchases, BOE MPC vote hike, BOE MOC vote unchanged, BOE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and Canada wholesale sales.

 

[AceTRaderForex]

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

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

USD/JPY - 133.56
Dollar's selloff from 134.95 in post-FOMC New York to 133.51 suggests long term upmove has made a temporary top at Tuesday's fresh 24-year peak at 135.59 and despite subsequent rebound to 134.67 in Asia, present sharp retreat in Europe on safe haven buying in yen signals consolidation with downside bias remains but below 133.37 needed to yield stronger retracement towards 133.19, break, 132.99.

On the upside, only a daily close above 133.85/90 would revive bullishness for stronger gain towards 134.67, 134.95 later.

Data to be released on Thursday:
Swiss SNB interest rate decision, Italy CPI, EU labor costs, UK BOE interest rate decision, asset purchase program, BOE QE total, BoE QE Corp Bond Purchases, BOE MPC vote hike, BOE MOC vote unchanged, BOE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index and Canada wholesale sales.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0540
Despite euro's resumption of decline from May's 1.0786 peak to a 1-month bottom of 1.0360 in post-FOMC Wednesday, subsequent rebound and then yesterday's rally above 1.0507 (now support) to 1.0601 on broad-based usd's selloff signals choppy swings above May's 5-year 1.0350 trough would continue but 1.0642 should cap upside and yield retreat.

On the downside, only a daily close below 1.0507 would indicate aforesaid recovery over and risk weakness towards 1.0452.

Data to be released on Friday:
New Zealand manufacturing PMI, Japan interest rate decision.
Italy trade balance, EU HICP.
Canada producer prices, U.S. industrial production, capacity utilization, manufacturing output and leading index.

 

[AceTRaderForex]

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

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

USD/JPY - 134.36
Although dollar's rally from 132.18 to as high as 134.63 after BOJ's dovish hold suggests correction from Wednesday's 24-year peak at 135.59 has ended yesterday at 131.50, however, subsequent spike down and volatile swings suggests further range trading is seen and above 134.63 would yield one more rise towards 135.22 but June's 24-year peak at 135.59 should hold.

On the downside, only a daily close below 132.71 would indicate recovery over and risk weakness to 132.18/28.

Data to be released on Friday:
Italy trade balance, EU HICP.
Canada producer prices, U.S. industrial production, capacity utilization, manufacturing output and leading index.