AceTraderFx : Daily Recommendations on Major

[AceTRaderForex]

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

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.

 

[AceTRaderForex]

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

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.

 

[AceTRaderForex]

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

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.

 

[AceTRaderForex]

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

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.

 

[AceTRaderForex]

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

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.

 

[AceTRaderForex]

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

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.

 

[AceTRaderForex]

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

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.

 

[AceTRaderForex]

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

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.

 

[AceTRaderForex]

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

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

EUR/USD - 0.9767
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 gain to 0.9875 (Tue) would prolong choppy swings, yesterday's fall to 0.9758 would head towards 0.9708, break, 0.9665/70.

On the upside, only a daily close above 0.9808/13 would risk stronger gain to 0.9852, possibly 0.9875.

Data to released on Thursday:
Japan exports, imports, trade balance, Australia employment change, unemployment rate.
Germany producer prices, Swiss exports, imports, trade balance, France business climate, EU current account.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, existing home sales and leading index.

 

[AceTRaderForex]

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

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

USD/JPY - 149.93
Although dollar has remained firm after yesterday's resumption of uptrend in tandem with U.S. yields to a fresh 32-year high of 149.90, a daily close above 150.00 handle needed to extend gain to 151.70/80 but loss of momentum would prevent strong rise today.

Present spike from 150.07 to 149.65 on possible BOJ's rate check may head to 149.11/15, break, 148.86.

Data to released on Thursday:
Germany producer prices, Swiss exports, imports, trade balance, France business climate, EU current account.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, existing home sales and leading index.

 

[AceTRaderForex]

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

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

EUR/USD - 0.9774
Although euro's rise from last week's 0.9632 low to 0.9875 (Tuesday) suggests further 'volatile' swings above September's fresh 2-decade trough at 0.9537 would continue, retreat to 0.9755 (Asia) Thursday signals downside bias remains and yesterday's retreat from 0.9845 (New York) would re-test 0.9755, break, 0.9721/25.

On the upside, only a daily close above 0.9845 would risk stronger gain to 0.9865/75.

Data to be released on Friday:
New Zealand imports, trade balance, exports, U.K. Gfk consumer confidence, Japan nationwide CPI, U.K. PSNB, PSNCR, retail sales, Canada new housing price index, retail sales and EU consumer confidence.

 

[AceTRaderForex]

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

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

USD/JPY - 150.72
Dollar's rally in tandem with US yields after shrugging off yen intervention warnings by Japan officials to a fresh 32-year 150.28 high (New York) suggests price may head to 150.70, however, loss of momentum may cap upside at 150.90/95 and yield a long-overdue correction later.

On the downside, only a daily close below 149.55 (Thursday low) would indicate a temporary top is in place and yield stronger retracement towards 149.11.

Data to be released on Friday:
U.K. Gfk consumer confidence, U.K. PSNB, PSNCR, retail sales, EU consumer confidence.
Canada new housing price index, retail sales.

 

[AceTRaderForex]

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

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

EUR/USD - 0.9850
Euro's rise form October's 0.9632 trough to 0.9875 last Tuesday suggests further 'volatile' swings above September's 2-decade trough at 0.9537 would continue, as price has rallied to 0.9868 (New York) after weakness to 0.9705 on Friday and intra-day break there would extend said upmove towards 0.9926 but reckon 0.9960 should hold and yield retreat.

On the downside, only below 0.9802 would risk weakness to 0.9755/60 later

 

[AceTRaderForex]

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

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

USD/JPY - 149.28
Despite resumption of long term uptrend to a fresh 32-year 151.94 peak in New York Fri, subsequent sharp decline to 146.21 on possible BoJ's active intervention signals a temporary top is made. However, intra-day rise to 149.70 (AUS), then spike down to 145.51 would yield further choppy sideways swings.

Rebound from 145.51 (AUS) indicates first leg of correction possibly over but above 149.70 needed for 150.28. Below 147.37, 146.21/25.

 

[AceTRaderForex]

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

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

EUR/USD - 0.9884
Euro's rise from Oct's 0.9632 trough to 0.9875 last Tue suggests further volatile swings above Sep's 2-decade trough at 0.9537 would continue, Fri's rally from 0.9705 and then yesterday's brief break of 0.9875 resistance to 0.9899 has retained daily bullishness but 0.9960 should remain intact.

On the downside, only a daily close below 0.9808 would risk further weakness towards 0.9755.

Data to be released on Tuesday:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders.
U.S. redbook, monthly home price, consumer confidence and Richmond Fed manufacturing

 

[AceTRaderForex]

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

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

USD/JPY - 148.90
Despite resumption of recent uptrend to a fresh 32-year 151.94 peak in New York Fri, subsequent sharp decline to 146.21 on BoJ's active intervention signals a temporary top is made. Mon's rebound to 149.70 (AUS) and then spike down to 145.51 would yield choppy swings. As long as 149.45 holds, another fall to 147.85/95 likely but below is needed for 147.38.

On the upside, a daily close above 149.70 would yield stronger gain to 150.15/25.

Data to be released on Tuesday:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders.
U.S. redbook, monthly home price, consumer confidence and Richmond Fed manufacturing

 

[AceTRaderForex]

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

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

EUR/USD - 0.9957
Euro's rise from Oct's 0.9632 trough to 0.9875 last Tue suggests further 'volatile' swings above Sep's 2-decade trough at 0.9537 would continue, yesterday's break of 0.9899 to 0.9976 would re-test 0.9999, above extends said upmove from 0.9537 towards 1.0050 objective later.

On the downside, only a daily close below 0.9899 would indicate a temporary top made and risk weakness towards 0.9849, then 0.9808.

Data to be released on Wednesday:
Australia CPI, Japan leading indicator, coincident index.
France consumer confidence, Italy trade balance, Swiss investor sentiment.
U.S. MBA mortgage application, building permits, goods trade balance, wholesale inventories, new home sales and Canada BOC rate decision.

 

[AceTRaderForex]

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

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

USD/JPY - 147.15
Despite dollar's selloff from Friday's fresh 32-year top at 151.94 to as low as 145.51 (Monday) on 2 rounds of BoJ's intervention, subsequent bounce to 149.45 signals 1st leg of correction over and intra-day selloff below 147.52 (Tuesday) on continued usd's weakness has retained daily bearishness but below 146.45/50 needed for 146.21, break would re-test 145.51.

On the upside, only a daily close above 148.41 (Asia) would prolong choppy swings and yield stronger gain towards 149.09 but 149.70 should hold initially.

Data to be released on Wednesday:
France consumer confidence, Italy trade balance, Swiss investor sentiment.
U.S. MBA mortgage application, building permits, goods trade balance, wholesale inventories, new home sales and Canada BOC rate decision.

 

[AceTRaderForex]

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

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

EUR/USD - 1.0083
Euro's rally above key resistance at 0.9999 yesterday to 1.0088 on usd's weakness signals rise from Sep's 2-decade 0.9537 to retrace long term downtrend remains in force and stronger gain to 1.0150/60 would be seen but reckon 1.0197 resistance should remain intact and yield retreat.

On the downside, only a daily close below 0.9999 may risk retracement towards 0.9944 before rebound.

Data to be released on Thursday :
Australia export prices, import prices, Germany Gfk consumer sentiment, Italy consumer confidence, industrial sales, U.K. CBI distributive trades, EU ECB refinancing rate, ECB deposit rate, U.S. durable goods, durables ex-transport, durables ex-defense, GDP, core PCE prices, initial jobless claims, continuing jobless claims, KC Fed manufacturing and Canada average weekly earnings.