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

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Update Time: 29 Jul 2021 16:26GMT

DAILY NZD/USD OUTLOOK - +0.7010+

Wed's rally fm 0.6900 (Reuters) to 0.7003 today
wud re-test this week's 0.7010 top, abv extends up-
move fm JUl's 0.6882 bottom to 0.7025/30 later.

Trade fm long side for this move but 0.7036/40
shud hold. Below 0.6940 risks 0.6900/10 b4 rebound.
Rate: +0.7010+
Strategy: +Exit long+
Position: Long at 0.6955
Objective:
Stop-Loss: Long at 0.6955
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MARKET REVIEW ON 31 Jul 2021 03:08 GMT

Dollar catches a bid after release of upbeat U.S. data

The greenback snapped its recent losing streak and rebounded against majority of its peers on Friday due to upbeat U.S. data and remarks from Fed's Bullard, who said that the monetary policy may need tightening soon. 
 
Reuters reported U.S. monetary policy is too loose given the country's fast growth, high inflation and an "incipient housing bubble," St. Louis Federal Reserve president James Bullard warned Friday in a call for the central bank to start reducing its monthly asset purchases soon. 
 
"We are tilted too much to the dovi ...
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MARKET MOVING NEWS

  
All times in GMT    
2 Aug 2021 06:10 EUR/USD - 1.1873... Reuters reported German retail sales increased much more than expected in June following an easing of COVID-19 restrictions, supporting hopes for a consumer-driven recovery in Europe's largest economy, data showed on Monday. 
 
The Federal Statistics Office said retail sales rose 4.....
2 Aug 2021 05:28 USD/JPY - 109.67... Reuters reported Japan's consumer confidence improved slightly in July from June, a government survey showed on Monday. 
 
The seasonally-adjusted consumer confidence index stood at 37.5 in July, up from 37.4 in the previous month, the survey showed. 
 
.....
2 Aug 2021 02:57 EUR/USD - 1.1872.. The single currency is in holding pattern in Asia after retreating from Fri's 1-month high of 1.1909 ahead of NY open to session lows of 1.1852 in NY morning as mildly upbeat U.S. data led to broad-based short covering in usd. 
 
As said Fri's retreat suggests recent erratic rise fr.....
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ECONOMIC INDICATORS FOR 02/08/2021

All times in GMT    
Time Country Indicator Actual Forecast Range Previous Revised
2230 Australia AIG Manufacturing Index - Jul 60.8 N/A N/A 63.2
2300 Australia Manufacturing PMI - Jul 56.9 N/A N/A 56.8
0030 Japan Jibun Bank Mfg PMI - Jul 53.0 N/A N/A 52.2
0145 China Caixin Manufacturing PMI - JuL 50.3 51.0 50.5/52.0 51.3
0500 Japan Consumer Confidence - Jul 37.5 N/A N/A 37.4
0600 Germany Retail Sales MM - Jun 4.2% 2.0% 0.0/3.1 4.2% 4.6%
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DAILY MARKET OUTLOOK

Update Time: 02 Aug 2021 08:21 GMT

USD/JPY - 109.65

The greenback's selloff following the Federal Reserve's dovish hold on Wednesday and yesterday's release of soft U.S. GDP data to 109.37 in Australia today suggests correction from July's bottom at 109.07 has ended at 110.59 last Friday and consolidation with downside bias remains for a re-test of said support, break would extend MT decline to 108.70/80 before prospect of a rebound.  
  
On the upside, only abv 110.28 would indicate a temporary low has been made and risk stronger gain to 110.59 again.
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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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WEEKLY GBP/USD TECHNICAL OUTLOOK

All times in GMT    
Last Update At 02/08/2021 01:33 GMT
Trend Daily Chart Daily Indicators 21 HR EMA 55 HR EMA
Sideways Turning up 1.3916 1.3919
Trend Hourly Chart Hourly Indicators 13 HR RSI 14 HR DMI
Sideways Falling 38 -ve
Daily Analysis
Consolidation with downside bias
Resistance Support
1.4001 - 23 Jun high
1.3983 - Last Fri's 1-month high
1.3935 - Last Fri's Asian low (now res)
1.3888 - Last Fri's low
1.3844 - Last Wed's low
1.3767 - Last Tue's low
. GBP/USD - 1.3905.. Although cable continued prev. week's winning streak due to usd's weakness and climbed fm 1.3737 (Mon) to a 1-month peak of 1.3983 on easing of UK Covid concerns, price fell to 1.3888 (NY) on profit taking Fri. . On the bigger picture, despite cable's brief break of 2016 post-Brexit low of 1.1491 to a near 35-year trough of 1.1412 in mid-Mar 2020 on safe-haven u.....
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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