Daily Recommendations on Major - EUR/USD
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Update Time: 16 Jan 2020 03:30GMT
EUR/USD - 1.1154
Euro's rally on Wednesday from 1.1119 (Europe) and then break of Monday's 1.1146 high to 1.1163 in NY suggests recent upmove from last Friday's 2-week bottom at 1.1086 has resumed and consolidation with mild upside bias would be seen, however, reckon 1.1180/85 would cap upside and yield retreat.
On the downside, below 1.1105 would indicate recovery has ended instead and bring re-test of 1.1086, break, 1.1067/70.
Data to be released on Thursday:
New Zealand retail sales, Japan corp goods price, machinery orders, UK RICS housing price balance, China house price index.
Germany CPI, HICP.
U.S. import prices, export prices, initial jobless claims, Philly Fed manufacturing survey, retail sales ex-autos, retail sales, business inventories, NAHB housing market index.
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