Daily Recommendations on Major -EUR/USD
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Update Time: 18 Jan 2018 06:00 GMT
EUR/USD - 1.2188
Despite yesterday's initial jump to a fresh 3-year peak of 1.2323, as subsequent intra-day 'wild' swings had ended with euro's decline from 1.2287 to 1.2166 in Australia today, suggesting temporary top has been made and choppy consolidation is in store.
A break of 1.2155/60 would bring stronger retracement towards 1.2112 whilst ab 1.2250/54 signals pullback has possibly ended and yields subsequent gain towards 1.2283/87.
No EU eco. data is out today but pay attention to speeches by various ECB officials starting with ECB's Weidmann, Couere and Villeroy, the latter may repeat his early dovish comments on euro.
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