Daily Recommendations on Major -EUR/USD
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Update Time: 07 Dec 2017 06:00 GMT
EUR/USD - 1.1794
Yesterday's firm break of 1.1800 to a near 2-week low at 1.1781 due to broad-based usd's strength suggests decline from Nov's 2-month peak at 1.1961 would extend weakness to 1.1757 after consolidation, however, loss of downward momentum should keep price above daily sup at 1.1714 .
On the upside, above 1.1848 anytime would signal aforesaid fall has made a low, then risk is seen for subsequent headway towards 1.1877/78.
The euro area counties will release a slew of eco. data starting with Germany's industrial output, France's current account, trade bal., imports n exports n lastly EU's GDP. ECB President Draghi will hold a news conference on Basel banking reforms in FFT at 15:00GMT n then will participate in a press conference at 16:00GMT.
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