Daily Recommendations on Major - EUR/USD
|
Update Time: 16 Oct 2018 05:30 GMT
EUR/USD - 1.1585
Although yesterday's rally in Europe due to broad-based usd's weakness and then gain to session highs of 1.1606 in New York morning on downbeat U.S. retail sales suggests pullback from Fri's 10-day high at 1.1610 has ended and recent upmove from last Tuesday's 7-week trough at 1.1432 would extend marginal gain, 'loss of upward momentum' would cap euro below res at 1.1651.
On the downside, below 1.1535 (Fri low) signals correction from 1.1432 has ended and would yield weakness towards 1.1480 later this week.
Data to be released later on Tuesday:
Germany import price, ZEW economic sentiment, ZEW current conditions, Italy industrial orders, industrial sales, CPI, CPI (EU norm), trade balance, UK ILO unemployment rate, employment change, average weekly earnings, DCLG house price index, EU trade balance.
U.S. PCE, redbook, industrial production, capacity utilization, manufacturing output, JOLTS job openings, NAHB housing market index.
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.