Daily Recommendations on Major - EUR/USD
|DAILY MARKET OUTLOOK on Major
Update Time: 11 Nov 2019 03:30GMT
EUR/USD - 1.1022
The single currency's fall to a 3-week trough at 1.1037 last Thursday, then to 1.1017 last Friday suggests decline from October's 2-month peak at 1.1179 has once again resumed and stronger retracement of upmove from 1.0880 to 1.0980/90 would be seen. However, loss of momentum would keep price above support at 1.0942 and yield a correction later this week.
On the upside, only above 1.1074 would indicate a temporary low has been made and risk stronger gain to 1.1091 before prospect of retreat.
As there is no major economic data being released from the eurozone today, pay attention to Chair of ECB supervisory board Andrea Enria's speech at the 20th Handelsblatt annual conference at 09:30GMT.
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