Daily Recommendations on Major - EUR/USD
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Update Time: 20 Sept 2018 05:30 GMT
EUR/USD - 1.1782
Yesterday's break of Aug's 1.1734 high (now sup) to a 2-month peak of 1.1785 in New York due to renewed usd's weakness (except vs yen) suggests price would head to 1.1815/25 after consolidation, overbought condition is expected to cap euro below 1.1852 (June's high) and risk has increased for a correction to take place later.
Only a daily close below 1.1734 confirms temp. top is made, then stronger retracement to 1.1665/70 would be seen.
Data to be released on Friday :
Japan national CPI, Nikkei manufacturing PMI, France GDP, Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, UK PSNB, PSNCR.
Canada CPI, retail sales, and U.S. Markit manufacturing PMI, Markit services PMI.
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