Daily Recommendations on Major - EUR/USD
|
Update Time: 09 Nov 2018 05:30 GMT
EUR/USD - 1.1362
Euro's intra-day selloff from 1.1447 (Europe) on Thursday to as low as 1.1352 after Fed's hawkish hold suggests correction from October's 1.1303 low has ended at 1.1500 on Wednesday and consolidation with downside bias remains for weakness towards said sup but break of key 2018 13-month bottom at 1.1301 (August) needed to retain bearishness for resumption of downtrend to 1.1240/50 next week.
On the upside, only above 1.1447 'prolongs' choppy sideways swings and may risk another rise back to 1.1470/80 but reckon 1.1500 would remain intact.
Eco calendar in the EZ is very light today with France's industrial output being the only data due out. ECB Governing Council member Coeure will deliver a speech in Frankfurt at 10:00GMT.
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.