Daily Recommendations on Major - EUR/USD
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Update Time: 20 Jun 2018 6:30 GMT
EUR/USD - 1.1576
Despite yesterday's resumption of decline from last week's 1.1852 high to 1.1531 in Europe, subsequent short-covering rebound in New York suggests further choppy trading above May's 10-month bottom at 1.1510 would continue and gain to 1.1624/27 can't be ruled out but 1.1645 should remain intact.
Below 1.1550 would head towards 1.1510 but loss of downward momentum should keep price above 1.1480 today.
On the eco. data front, German PPI is the only data due out. The ECB Forum on Central Banking in Sintra, Portugal continues today with a number of ECB officials and Fed chairman J. Powell and other central bankers scheduled to speak during the day (pls refer to EI page for details).
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