EUR/USD: Daily Recommendations on Major
|DAILY MARKET OUTLOOK on Major
Update Time: 20 Feb 2020 03:30GMT
EUR/USD - 1.0810
Despite the single currency's selloff to 1.0786 on Tuesday, then lower to a fresh near 3-year trough at 1.0783 yesterday on usd's broad-based strength, subsequent rebound suggests medium-term decline has possibly made a temporary low there and consolidation with upside bias remains for a stronger retracement to 1.0837, then 1.0850, however, resistance at 1.0861 should remain intact.
On the downside, only below 1.0783 would revive bearishness for weakness to 1.0750/70 but loss of momentum would keep price above 1.0730/40 and yield a correction later.
Data to be released on Thursday :
New Zealand PPI inputs, PPI outputs, Australia employment change, unemployment rate.
Germany GfK consumer sentiment, producer prices, Swiss exports, imports, trade balance, industrial production, France CPI, UK retail sales, retail sales ex-fuel, CBI trends orders.
U.S. initial jobless claims, Philadelphia Fed business index, leading index, Canada new housing price index, ADP employment change, and EU consumer confidence.
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