Daily Recommendations on Major - EUR/USD
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Update Time: 16 Aug 2018 5:30 GMT
EUR/USD - 1.1348
Although euro's rebound from Wed's fresh 13-month trough at 1.1301 to 1.1355 on short covering in New York session suggests recent downtrend has made a temporary low and consolidation is in store, outlook remains mildly bearish for marginal weakness below 1.1300' loss of downward momentum should keep price above 1.1270/75.
On the upside, a daily close above 1.1365 would risk stronger correction to 1.1400, then later to 1.1429/33 before prospect of another fall next week.
Data to be released on Thursday :
Germany wholesale price index, UK retail sales, EU trade balance.
U.S. building permits, housing starts, initial jobless claims, Philadelphia Fed survey, and Canada manufacturing sales, ADP employment change.
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