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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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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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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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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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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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