Daily Recommendations on Major - EUR/USD
|
Update Time: 23 May 2018 5:30 GMT
EUR/USD - 1.1781
Euro's intra-day decline from 1.1830 (Europe) to .1770 in New
York suggests correction from Mon's 6-month trough at 1.1717 has possibly ended, below 1.1750 would add credence to this view and yield re-test of said temp. low, 'loss of downward momentum' would limit weakness to 1.1685/90 today.
Only a daily close above 1.1830 risks stronger retracement to 1.1854 and possibly to 1.1875.
Data to be released on Wednesday :
France ILO unemployment rate, Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, consumer confidence, U.K. DCLG Hosue Price Index, core CPI, CPI, RPI, Core RPI, PPI input price, PPI output price, PPI core output, CBI distributive trades.
U.S. MBA mortgage application, building permits, Markit manufacturing PMI, Markit services PMI, new home sales, FOMC minutes.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.