Daily Recommendations on Major - EUR/USD
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Update Time: 20 Aug 2019 05:30 GMT
Euro's fall from 1.1113 (Europe) yesterday to 1.1077 as the greenback regained traction in New York session suggests recovery from Friday's 2-week low at 1.1067 has ended and recent decline would head to 1.1040/50 after consolidation, loss of downward momentum is likely to keep price above Aug's fresh 2-year bottom at 1.1028 and bring rebound later today or tomorrow.
Only a daily close above 1.1113 signals temporary low is made and risk stronger retracement of recent erratic fall from 1.1249 to 1.1158, break, 1.1180/90.
Data to be released Tuesday:
Germany PPI, Swiss trade balance, exports, imports, EU construction output, UK CBI trend order.
Canada manufacturing sales and U.S. redbook, Philadelphia Fed non-manufacturing business outlook survey.
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