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acetraderforex
post Mar 19 2021, 11:30 AM
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AceTraderFx Mar 19: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 19 Mar 2021 09:30GMT

USD/JPY - 108.83
Despite the greenback's rebound from 108.63 to 109.30 yesterday, intra-day fall on active cross-buying in jpy suggests choppy trading below March's 9-month peak at 109.36 would continue with mild downside bias and weakness to 108.50 would be seen after consolidation, however, near term loss of momentum would keep price above 108.35.

On the upside, only above 109.36 would revive bullishness for one more rise to 109.62/65 before prospect of a correction early next week.

T.G.I.F., no economic data is due out today and market will take cue from intra-day move in the 10-year US yields as well as U.S. stock performance, any further weakness in the Dow will push the greenback higher.


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acetraderforex
post Mar 24 2021, 04:17 AM
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AceTraderFx Mar 24: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 24 Mar 2021 03:00GMT

EUR/USD - 1.1845
Euro's intra-day weakness on continued broad-based usd's strength due to risk-off trade suggests price would penetrate March's 3-month low at 1.1836 next, break there would extend Medium Term downtrend from January's near 33-month peak at 1.2349 towards projected target at 1.1787 later this week, oversold condition should keep price above 1.1746 sup.

Only a daily close above 1.1873 (Monday low, now res) signals temporary bottom is possibly made and may risk stronger retracement to 1.1935/45.

U.S. will release a slew of eco. data, please refer to our EI page for details and pay attention to Markit mfg n services PMIs. Market will also follow testimonies by Fed Chair's Powell n U.S. Treasury Secretary Yellen.
Later today, Fed's Williams n Fed's Daily are scheduled to speak in New York afternoon.

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acetraderforex
post Mar 25 2021, 06:44 AM
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AceTraderFx Mar 25: Intra-Day News and Views & data to be released today –USD/JPY

Intra-Day Market Moving News and Views

Update Time: 25 Mar 2021 05:30GMT

USD/JPY - 108.94.. Despite dlr's retreat from Wednesday's high at 108.95 to 108.67 in New York session in tandem with intra-day pullback in U.S. yields, the pair caught a bid at Tokyo open as news of N. Korea's firing of 2 ballistic missiles in Australian morning time triggered broad-based yen selling.

Intra-day brief break above 108.95 to 108.98 suggests correction from March's 9-month peak at 109.36 has possibly ended n consolidation with upside bias is expected.
Bids are noted at 108.75/65 and more below with stops reported below 108.35 while offers are tipped at 109.00/10 with stops above 109.15 and more stops are building up above 109.40.

U.S. will release a slew of eco. data, please refer to our EI page for details n pay attention to release of weekly jobless claims and continued jobless claims to gauge the latest U.S. employment situation.
We have a number of Fed officials scheduled to speak in New York morning as well as in the afternoon session.



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acetraderforex
post Apr 7 2021, 04:36 AM
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AceTraderFx Apr 07: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 07 Apr 2021 03:00GMT

EUR/USD - 1.1871
Euro's rally yesterday above Mon's 1.1819 high to a near 2-week top of 1.1877 due to continued usd's weakness on falling U.S. yields suggests upmove from last Wednesday's 4-1/2 month trough at 1.1705 remains in progress and would extend marginal gain, overbought condition should cap price at 1.1947 and risk has increased for a strong retracement of said rise.

On the downside, below 1.1819 signal at least the 1st leg of correction over and heads back to 1.1786/96.

Data to be released on Wednesday :
Australia AIG construction index, Markit services PMI, Japan coincident index, leading indicator.
Italy Markit services PMI, France Markit services PMI, Germany Markit services PMI, EU Markit services PMI, UK Markit services PMI.
U.S. MBA mortgage applications, trade balance, and Canada trade balance, exports, imports, Ivey PMI.


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acetraderforex
post Apr 13 2021, 06:37 AM
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AceTraderFx Apr 13: Intra-Day News and Views & data to be released today – USD/JPY

Intra-Day Market Moving News and Views

Update Time: 13 Apr 2021 05:30GMT

USD/JPY - 109.58.. Despite Mon's decline from 109.77 (New Zealand) to 109.25 in Europe due to a bout of yen buying on retreat in US yields, the pair recovered to 109.45 in NY afternoon n price climbed again at Tokyo open at 109.61 in tandem with rebound in US yields.

Expect consolidation with upside bias n as long as Monday's 109.25 low holds, gain to 109.77 is likely but break of 109.95 (Friday high) needed to signal correction from March's 1-year peak at 110.96 has possibly ended n yield further headway to 110.45/55 later this week.
Bids are noted at 109.45-35 with stop below 109.25 while offers are tipped at 109.70/75 with stop above 109.80, more stops are touted above 110.00.

BOJ Gov. is currently speaking in the parliament. Later today, market's focus is on U.S. CPI data, especially the Mar Y/Y data, street forecast is looking for a big jump from prev. reading of 1.7% to 2.5%, if actual comes in a per estimate or slightly beats it, then usd will rally in tandem with US yields (benchmark 10-year is currently at 1.6817, just below Mar's 14-month peak of 1.776%).
We have a total number of 7 Fed officials scheduled to speak today, please refer to our EI page for details.


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acetraderforex
post Apr 15 2021, 04:07 AM
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AceTraderFx Apr 15: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 15 Apr 2021 03:00GMT

EUR/USD - 1.1982
Despite euro's resumption of recent upmove from March's 4-1/2 month trough at 1.1705 to 1.1987 yesterday, loss of upward momentum would prevent strong gain above daily 1.1990 res and yield retreat, below 1.1927 (previous res, now sup) indicates top is in place and heads back towards 1.1878.

Only a daily close above psychological 1.2000 handle may risk stronger gain to 1.2045/50 before prospect of decline.

Data to be released on Thursday :
New Zealand food price index, Australia consumer inflation experience, employment change, unemployment rate.
Germany CPI, HICP, wholesale price index, France CPI, Italy CPI.
U.S. New York Fed manufacturing, initial jobless claims, continuous jobless claims, Philly Fed manufacturing index, retail sales, industrial production, capacity utilization, manufacturing output, business inventories, NAHB housing market index, Canada manufacturing sales, ADP employment change.


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acetraderforex
post Apr 16 2021, 10:52 AM
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AceTraderFx Apr 16: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 16 Apr 2021 09:30GMT

USD/JPY - 108.88
Although the greenback's break below Wednesday's near 3-week bottom at 108.76 to 108.62 yesterday signals decline from March's 1-year peak at 110.96 has once again resumed and consolidation with downside bias remains for marginal weakness, reckon near term loss of momentum would keep price above 108.41 today and yield a much-needed correction early next week.

On the upside, only above 109.25/30 would indicate a temporary low has been made and risk a stronger retracement of aforesaid downtrend to res 109.75/77.

T.G.I.F., U.S. will later release building permits , housing starts n University of Michigan consumer confidence. Dallas Fed President Kaplan will speak at 14:45GMT n then 16:30GMT.


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acetraderforex
post Apr 19 2021, 07:42 AM
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AceTraderFx Apr 19: Intra-Day News and Views & data to be released today – EUR/USD


Intra-Day Market Moving News and Views

Update Time: 19 Apr 2021 05:30GMT

EUR/USD - 1.1963.. Despite rising one tick above Thursday's 1.1993 high to a fresh 5-week peak of 1.1994 in Europe on Friday, the euro retreated to 1.1973 in New York on profit taking n price further pared recent gains n inched lower to 1.1962 in early Asian morning Monday, suggesting range trading is in store.

This week price action is important to determine eur's next 150-200 points move. As long as 1.2027 (50% r of 1.2349-1.1705) holds, Medium Term bearishness remains, a daily close below 1.1927 (prev. res, now sup) would signal corrective rise from 1.1705 is over, perhaps Thursday's ECB monetary policy announcement n post-ECB presser may well be the key driver.
Order book is pretty thin on Monday with some bids noted at 1.1965/55 with stops touted below 1.1950 while offers are tipped at 1.1990/00 with stops above there.

On the data front, we have EU's construction output n current account. The German Bundesbank will release its monthly report sometime in Euroean morning.


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acetraderforex
post Apr 22 2021, 06:50 AM
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AceTraderFx Apr 22: Intra-Day News and Views & data to be released today –USD/JPY

Intra-Day Market Moving News and Views

Update Time: 22 Apr 2021 05:30GMT

USD/JPY - 108.00... Although dollar extended its recent losing streak and briefly dropped to a fresh 6-week low of 107.88 at Tokyo open on Wednesday on risk-off trade, price rebounded to 108.28 in European morning on short-covering but only to weaken in tandem with U.S. Treasury yields to 107.98 in New York, then ratcheted lower to 107.96 at Asian open today.

As usd has fallen after yesterday's rebound from 107.88 to 108.28, suggesting decline from March's 1-year peak at 110.96 to retrace medium term upmove from January's 9-1/2 month trough of 102.60 would resume after consolidation, however, loss of downward momentum should prevent steep drop below 107.77 (38.2% r) and yield a much-needed correction. Some offers are tipped at 108.20/25 with stops above 108.50/55 while bids are noted at 107.80-75 with stops below 108.60.

On the data front, U.S. will release weekly jobless claims and continued jobless claims at 12:30 GMT, with street forecasts at 617k and 3.667M versus prior readings of 576k and 3.731M respectively.


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acetraderforex
post Apr 26 2021, 04:11 AM
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AceTraderFx Apr 26: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 26 Apr 2021 03:00GMT

EUR/USD - 1.2093
Euro's break of last Tuesday's 1.2079 top to a 7-week peak of 1.2099 Fri on renewed usd's weakness suggests recent upmove has once again resumed and would re-test 1.2112 (Mar peak), overbought condition is likely to cap price at 1.2155/65.

On the downside, only below 1.2047 (New York low) signals temporary top is in place, then risk is seen for stronger retracement to 1.1994/94 later this week.

Pay attention to release of a slew of key German Ifo data n in particular the business climate for Apr, street forecast is 97.7 vs prev. reading of 96.6, a stronger-than-expected reading would trigger more euro buying. ECB member Panneta will speak at 12:00GMT n then ECB Chief Economist Lane will soeak at 13:00GMT.


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acetraderforex
post Apr 29 2021, 04:04 AM
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AceTraderFx Apr 29: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 29 Apr 2021 03:00GMT

EUR/USD - 1.2134
Euro's intra-day rally above Monday's 1.2116 high to a fresh 8-week peak of 1.2134 Wednesday after Fed's dovish hold suggests recent strong upmove from March's 4-1/2 month trough at 1.1705 would head to 1.2175/80, however, overbought condition should prevent strong gain and reckon 1.2200/10 would cap upside and yield a long-overdue correction.

A daily close below 1.2102 would signal temporary top is in place and heads back towards 1.2057 but 1.1994/99 should contain weakness.

Data to be released on Thursday :
New Zealand imports, trade balance, exports, NBNZ business outlook, NBNZ outlook activity, Australia export prices, import prices.
U.K. nationwide house price, Germany import prices, unemployment change, unemployment rate, CPI, HICP, Italy producer prices, EU economic sentiment, industrial sentiment, services sentiment, consumer confidence, business climate.
US GDP, GDP deflator, PCE prices, initial jobless claims, continuous jobless claims, pending home sales, Canada average weekly earnings.


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acetraderforex
post Apr 29 2021, 10:46 AM
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AceTraderFx Apr 29: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major

Update Time: 29 Apr 2021 09:30GMT

USD/JPY - 108.90
Despite yesterday's retreat from a near 2-week high at 109.07 to 108.58 in post-FOMC New York, then 108.44 at Asian open today, intra-day rise in tandem with U.S. yields suggests pullback has ended and upmove from April's 6-week 107.49 trough would head to 109.20/25 after consolidation, however, reckon 109.75/77 should cap upside today.
On the downside, only below 108.38/44 would risk weakness to 108.08, then possibly 107.91/95.

Financial markets in Japan are closed for Showa Day holiday, the first of 4 days of Golden Week holiday (next is Monday). U.S. will release a slew of eco. data, pay attention to Q1 GDP, PCE (Fed's preferred inflation gauge) and jobless claims.
Also, we have Fed officials Quarles and Williams speaking at 15:00GMT n 18:00GMT respectively.


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post May 4 2021, 04:21 AM
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AceTraderFx May 04: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 04 May 2021 03:00GMT

EUR/USD - 1.2053
Euro's rally on Mon from 1.2014 (Europe) to 1.2075 due to usd's weakness in New York suggests 1st leg of correction fm Apr's 8-week peak at 1.2149 has ended and 1-2 days of choppy consolidation is in store.

Expect 1.2116 to cap intra-day gain and yield decline, below 1.2035/40 signals recovery over and yields re-test of 1.2014, then 1.1994 later.

Data to be released on Tuesday :
Australia trade balance, imports, exports, RBA interest rate decision.
France budget balance, Swiss consumer confidence, U.K. markit manufacturing PMI.
U.S. trade balance, redbook, ISM New York index, durables ex-defense, durable goods, factory orders, durable ex-transport, Canada building permits, trade balance, exports, imports, New Zealand GDT price index.

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post May 7 2021, 04:09 AM
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AceTraderFx May 07: Daily Recommendations on Major -EUR/USD

DAILY MARKET OUTLOOK on Major

Update Time: 07 May 2021 03:00GMT

EUR/USD - 1.2065
Although Thur's impressive rise from 1.1994 to 1.2071 (New York) due to renewed usd's weakness on return of risk appetite suggests early decline from April's 8-week peak at 1.2149 has made a low at 1.1987 (Wednesday), a daily close above 1.2075 needed to turn outlook bullish for further gain towards 1.2149 next week.

On the downside, a firm break of 1.2035 would signal recovery has ended, then risk would shift to downside for re-test of 1.1987.

The euro area countries will release a slew of eco. data, pls refer to our EI page for details. ECB President Lagarde wlll speak at a forum called the State of the Union 2021at 10:00GMT.

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