EUR/USD: Daily Recommendations on major
|EUR/USD - 1.1868
The single currency's rally to a 25-month peak at 1.1848 yesterday, then higher to 1.1888 in Asia today suggests medium-term uptrend remains in progress and further gain to 1.1899, then 1.1916/20 would be seen after consolidation, however, loss of momentum would keep price below 1.1946/50 and yield a much-needed correction early next week.
On the downside, only below 1.1806 (previous resistance, now support) would indicate a temporary top has been made and risk stronger retracement to 1.1769/73.
Data to be released on Friday :
Japan unemployment rate, industrial output, consumer confidence, construction orders, housing starts, China NBS non-manufacturing PMI, NBS manufacturing PMI, Australia PPI.
France GDP, consumer spending, CPI (EU norm), CPI, Germany retail sales, UK nationwide house price, Swiss retail sales, Italy GDP, CPI, CPI (EU norm), retail sales, EU HICP, core HCIP GDP.
U.S. personal income, personal spending, core PCE, PCE price index, employment costs, Chicago PMI, University of Michigan sentiment, and Canada GDP, producer prices, budget balance.
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