Daily Recommendations on Major -EUR/USD
|DAILY MARKET OUTLOOK on Major
Update Time: 14 Oct 2019 03:30GMT
EUR/USD - 1.1026
Despite euro's resumption of recent erratic upmove from October's fresh 28-month trough at 1.0880 to a 2-1/2 week high at 1.1062 Friday, subsequent retreat to 1.1025 in Asia today suggests temporary top made and range trading would be seen before prospect of another rise, however, reckon 1.1109 (September's top) would remain intact.
On the downside, only below 1.1000 would yield stronger retracement to 1.0968/71 but 1.0942 should hold.
On the data front, we have Germany's whole price index for Sep n then EU's industrial production. ECB Vice President Guindos will make an opening speech at a financial event in Madrid at 07:15 GMT.
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