Daily Recommendations on Major - EUR/USD
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Update Time: 17 Jun 2019 05:30 GMT
EUR/USD - 1.1220
Euro's selloff in New York session to 1.1203 on Fri due to renewed usd's broad-based strength following decent U.S. retail sales data strongly suggests correction from May's 22-month bottom at 1.1108 has ended at 1.1347 and consolidation with downside bias remains for further weakness to 1.1157/60.
On the upside, only a daily close above 1.1269 'prolongs' choppy sideways swings and may head back to 1.1303/08 later.
Although no eco. data is due out from the euro area countries, pay attention to comments from ECB officials where some of them are attending the 3-day ECB Forum on Central Banking 2019 in Sintra, Portugal. ECB President Draghi will make an opening speech at 17:00GMT later today and then at 08:00GMT Tuesday.
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