Daily Recommendations on Major - EUR/USD
|DAILY MARKET OUTLOOK on Major
Update Time: 09 Dec 2019 04:00GMT
EUR/USD - 1.1055
Despite Friday's initial firmness, failure to re-test Wed's 4-week high of 1.1115 and intra-day selloff from 1.1109 (Europe) to as low as 1.1041 after robust U.S. jobs data suggests early upmove from Nov's 6-week bottom at 1.0982 has made a top there and consolidation with downside bias is seen for a strong retracement of said rise, near term oversold condition would keep price above 1.1004.
On the upside, above 1.1080/90 would be the 1st signal pullback has ended and may head back to 1.1100/10 later today or tomorrow.
On the data front, we have Germany's exports, imports, current account n trade balance at 07:00GMT, then EU's Sentix investor sentiment at 09:30GMT.
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