Daily Recommendations on Major - EUR/USD
|
Update Time: 11 Dec 2018 05:30 GMT
EUR/USD - 1.1364
Despite extending last week's upmove to a fresh 2-week high of 1.1443 initially in Asia on Monday, subsequent 'cable-led' selloff to as low as 1.1350 in New York partly due to renewed usd's strength suggests recent erratic rise from 1.1267 has made a top there an stronger retracement to 1.1305/11 sup area can't be ruled out before prospect of rebound due to near term oversold condition.
On the upside, a daily close above 1.1400 suggests pullback is over and would head back towards 1.1443 but key res at 1.1472 should remain intact.
Euro area countries will release a slew of eco. data starting with France's non-farm payrolls, then EU's Sentix economic sentiment. ECB Vice President Guindos will deliver a speech in Frankfurt, then ECB's Angeloni.
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.