Daily Recommendations on Major - EUR/USD
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Update Time: 05 Jun 2019 05:30 GMT
EUR/USD - 1.1264
Euro's intra-day firmness in Asia following retreat from Tuesday's 1-month high at 1.1277 (Europe) to 1.1227 in New York suggests pullback has ended and recent upmove would head to 1.1300/04 after consolidation, however, loss of upward momentum should cap price below res at 1.1325 and risk has increased for a much-needed correction to occur later today or tomorrow.
A daily close below 1.1227 signals 1st leg of correction from 1.1108 has ended and yields weakness to 1.1157/60.
Today is PMI day in the euro area countries, Italy will kick off with Martkit services PMI, then the same from France and Germany, the EU will release PPI and retail sales.
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