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acetraderforex
post Jan 4 2021, 04:41 AM
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AceTraderFx Jan 04: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 04 Jan 2021 03:00GMT

EUR/USD - 1.2242
The single currency's selloff from last Wednesday's fresh 33-month peak at 1.2309 to 1.2210 Thursday suggests Medium Term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.2195, then 1.2160/65, however, support at 1.2131 should remain intact and yield a much-needed rebound later.

On the upside, only above 1.2275 would indicate aforesaid pullback has ended and risk stronger gain to 1.2300/05 would be seen but 1.2309 may hold on 1st testing.

There is a slew of manufacturing PMIs to be released from the eurozone today.
Pay particular attention to Germany's at 08:55GMT and EU's at 09:00GMT.

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acetraderforex
post Jan 6 2021, 03:59 AM
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AceTraderFx Jan 06: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 06 Jan 2021 03:00GMT

EUR/USD - 1.2296
Despite euro's re-test of last Wednesday's fresh 2-1/2 year peak at 1.2309 in New York on Monday, subsequent sharp retreat to 1.2242 suggests Medium Term upmove is not ready to resume yet and choppy trading below there would continue with mild downside bias, however, last Thursday's reaction low at 1.2210 should remain intact and yield another rebound later.

On the upside, only above 1.2309 would revive bullishness for one more rise to 1.2334/40, then 1.2355/60 before prospect of a much-needed correction.

Data to be released on Wednesday :
Japan Jibun Bank services PMI, consumer confidence, China Caixin services PMI.
UK BRC shop price index, Markit services PMI, France consumer confidence, CPI (EU norm), CPI, Markit services PMI, Italy Markit services PMI, Germany Markit services PMI, CPI, HICP, EU Markit services PMI, producer prices.
U.S. MBA mortgage applications, ADP national employment, Markit services PMI, durables ex-defense, durable goods, factory orders, durables ex-transportation.

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acetraderforex
post Jan 13 2021, 04:26 AM
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AceTraderFx Jan 13: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 13 Jan 2021 03:00GMT

EUR/USD - 1.2217
Despite the single currency's fall to 1.2133 on Monday, subsequent rally to 1.2216 today suggests the first leg of correction from January's 2-1/2 year peak at 1.2349 has ended there and consolidation with upside bias remains for gain to 1.2226/30, however, resistance at 1.2241/46 would remain intact and yield retreat.

On the downside, only below 1.2178 would indicate aforesaid recovery has ended instead and risk weakness to 1.2133/38.

Pay attention to the release of EU industrial production mm and yy at 10:00GMT. Street forecasts are 0.2% and -3.3% vs previous readings of 2.1% and -3.8% respectively.
Elsewhere, ECB President Christine Lagarde will speak at the Reuters Next summit at 09:00GMT.

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acetraderforex
post Jan 15 2021, 10:57 AM
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AceTraderFx Jan 15: Daily Recommendatioons on Major – USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 15 Jan 2021 09:30GMT

USD/JPY - 103.68
The greenback's sharp retreat from 104.19 (Asia) to 103.57 on usd's broad-based weakness in late New York yesterday suggests choppy trading below Monday's 4-week peak at 104.39 would continue with downside bias, below Wednesday's reaction low at 103.53 would yield stronger retracement of upmove from December's 9-1/2 month trough at 102.60 to 103.20/25, then 102.95 later.

On the upside, only above 104.19 would abort daily bearishness and risk re-test of 104.39, break would head to 104.57/60 before prospect of correction.

Data to be released on Friday :
New Zealand food price index, China house prices, Japan tertiary industry activity index, UK GDP, industrial output, manufacturing output, construction output, trade balance.
France budget balance, CPI, CPI (EU norm), EU trade balance.
U.S. New York Fed manufacturing index, PPI, core PPI, retail sales ex-autos, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, University of Michigan sentiment.

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