Daily Recommendations on Major - EUR/USD
|DAILY MARKET OUTLOOK on Major
Update Time: 21 Nov 2019 03:30GMT
EUR/USD - 1.1077
Despite the single currency's fall to 1.1054 yesterday, subsequent rebound to 1.1081 on usd's broad-based weakness suggests the pullback from Monday's high at 1.1090 has ended there and consolidation with upside bias would be seen for a re-test of said resistance, break would extend recent rise from last Thursday's 1-month trough at 1.0990 to 1.1113/20.
On the downside, only below 1.0990 would revive bearishness for weakness to 1.0968 but loss of momentum would keep price above support at 1.0942, yield rebound.
Pay attention to the release of EU consumer confidence at 15:00GMT. Street forecast is -7.3 vs previous reading of -7.6.
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