EUR/USD: Daily recommendations on Major
|DAILY MARKET OUTLOOK on Major
Update Time: 01 June 2020 03:30GMT
EUR/USD - 1.1116
Euro's resumption of recent upmove to a 2-month peak of 1.1144 on Friday due to continued broad-based usd's weakness and month-end euro's demand suggests test of daily res at 1.1147 res would be seen after consolidation, break would extend medium-term rise towards 1.1200.
Intra-day retreat would bring initial sideways swings before up and only below 1.1030/35 (previous res, now sup) confirms temporary top is in place and risks stronger retracement towards 1.0992 later this week.
The euro area countries will release a slew of PMI data despite holidays in key centres in Germany and France, please refer to our EI page for details.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.