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EXCELLENT JOB ON CALLING GOLD!!!
You guys are doing great...

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Update Time: 04 Aug 2020 01:40GMT

INTRA-DAY EUR/JPY OUTLOOK - +124.85+

Despite euro's selloff fm 125.06 to 124.00 y'day
, subsequent strg rebound to 124.80 suggests the
pullback fm Fri's 14-month peak at 125.20 has ended
there n consolidation with upside bias remains n
gain to 125.06 wud be seen b4 down.

Trade fm long side for 124.85 n only below 124.
30/35 wud risk weakness twd 124.00.
Rate: +124.85+
Strategy: +Target met+
Position: Long at 124.45
Objective: 124.85
Stop-Loss:
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MARKET REVIEW ON 03 Aug 2020 23:52 GMT

Dollar ends higher on short-covering

The greenback extended its winning streak and ended Monday higher across the board on short-covering and later pared intra-day gains in New York due partly to downbeat U.S. construction spending data. 
 
Reuters reported the Commerce Department said on Monday that construction spending dropped 0.7% to $1.355 trillion, the lowest level since June 2019. Data for May was revised to show construction outlays falling 1.7% instead of decreasing 2.1% as previously reported.  
 
Economists polled by Reuters had forecast construction spending would rebo ...
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MARKET MOVING NEWS

  
All times in GMT    
3 Aug 2020 23:14 USD/MAJORS... Reuters earlier reported U.S. President Donald Trump said on Monday that he has the right to issue an executive order on mail-in voting but hasn't gotten to it yet, and he vowed to sue Nevada over a new law that would send mail-in ballots to every voter ahead of the November presidenti.....
3 Aug 2020 23:12 USD/MAJORS... Reuters earlier reported Chicago Federal Reserve Bank President Charles Evans on Monday called forcefully for more U.S. government spending to support the economy, saying it is up to lawmakers and the White House to put the job market back on track toward health. 
 
"Aggregate demand tro.....
3 Aug 2020 23:10 USD/MAJORS... Reuters earlier reported the U.S. economy faces a much larger downturn than previously forecast if Congress is unable to provide longer-term fiscal support quickly to tens of millions of Americans who are currently jobless, Richmond Fed President Thomas Barkin said on Monday. 
 
"Four mo.....
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ECONOMIC INDICATORS FOR 04/08/2020

All times in GMT    
Time Country Indicator Actual Forecast Range Previous Revised
2330 Japan Tokyo Core CPI YY - Jul 0.4% 0.2% 0.1/0.3 0.2%
2330 Japan Tokyo CPI YY - Jul 0.6% 0.4% N/A 0.3%
0130 Australia Trade Balance AUD - Jun 8,202M 8,800M 8/10,000 8,025M
0130 Australia Imports - Jun 1.0% N/A N/A -6.0%
0130 Australia Exports - Jun 3.0% N/A N/A -4.0%
0130 Australia Retail Sales MM - Jun 2.7% 2.4% 2.4/2.5 16.9%
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DAILY MARKET OUTLOOK

Update Time: 04 Aug 2020 01:17 GMT

EUR/USD - 1.1755

Despite the single currency's rise to a fresh 2-year peak at 1.1908 last Friday, subsequent selloff to 1.1697 in New York yesterday suggests recent upmove has made a temporary top there and choppy trading with mild downside bias would be seen, however, support at 1.0732 would remain intact and yield rebound later.  
  
On the upside, only above 1.1896 would indicate aforesaid correction has ended and risk re-test of said resistance, break would extend to 1.1940/50.
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WHY AceTrader?

20 years of history in providing forex market analysis and trading recommendations to institutional traders
True 24 hours real-time analysis for up-to-the-minute recommendations and analysis
Forecasting methodology used by professionals
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DAILY USD/JPY TECHNICAL OUTLOOK

All times in GMT    
Last Update At 04/08/2020 00:08 GMT
Trend Daily Chart Daily Indicators 21 HR EMA 55 HR EMA
Sideways Turning up 105.97 105.69
Trend Hourly Chart Hourly Indicators 13 HR RSI 14 HR DMI
Up Bearish divergences 56 +ve
Daily Analysis
Consolidation b4 one more rise
Resistance Support
106.90 - Hourly chart
106.65 - Jul 10 low (now res)
106.47 - Mon's high
105.92 - Y'day's NY low
105.59 - Mon's low
105.29 - Last Thur's high (now sup)
. USD/JPY - 106.06... The pair met renewed buying at 105.72 (AUS) y'day n extended Fri's rally to 106.43 at Asian open. Although price fall to 105.59 in Europe, dlr later rallied to session high of 106.47 in NY b4 retreating. . On the bigger picture, dlr's fall fm 118.66 (Dec 2016) to 2019 low at 104. 46 (Sep) confirms early uptrend fm 2016 29-month bottom at 99.00 has hit a top there.....
Click on the chart to enlarge image

charts offered by ProRealTime.com
 
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WHO WE ARE

AceTrader provides "up-to-the-minute" financial market commentaries and foreign exchange trading recommendations round the clock.

AceTrader is the internet operation of Trendsetter, a global specialist data provider who has been providing its users with real time commentaries and trading recommendations focusing on the foreign exchange market for over 20 years. A dedicated team 7 Analysts monitor the market and update recommendations and commentaries 20 hours a day.

Our coverage includes 20 different instruments with a primary focus on the foreign exchange market and Gold & Silver.

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