Daily Recommendations on Major - EUR/USD
|
Update Time: 02 Oct 2018 05:30 GMT
EUR/USD - 1.1576
Yesterday's resumption of decline from last Monday's 3-1/2 month peak of 1.1815 to a 2-1/2 week low at 1.1564 suggests marginal weakness would be seen after consolidation, however, loss of downward momentum should keep price above key sup at 1.1526 (September's bottom) and bring a much-needed correction later.
On the upside, a daily close above 1.1629 signals temporary low is made and yield stronger gain to 1.1651, however, reckon 1.1685 would cap upside.
The euro countries' eco. calendar is pretty light with EU PPI being the only data due out. However, we have ECB Galhau speaking in Paris at 14:30GMT.
There is EU Eco. and Financial Affairs Council meeting (ECOFIN) today which starts at 09:00GMT and ECB VP de Guindos will participate.
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.