EUR/USD: Daily recommendations on major
|EUR/USD - 1.2167
Euro's break of Wed's 1.2157 high to 1.2173 in post-ECB New York morning yesterday suggests recent decline from January's near 33-month peak at 1.2349 has made a low earlier at Monday's 6-week trough of 1.2055 and stronger retracement towards 1.2222 objective is envisaged before retreat due to loss of upward momentum.
On the downside, a daily close below New York low at 1.2137 would be the 1st signal correction has ended, then risk would shift to the downside for weakness to 1.2116, then towards 1.2077 on Monday.
Data to be released on Friday :
New Zealand manufacturing PMI, CPI, Australia manufacturing PMI, services PMI, retail sales, Japan nationwide core CPI, nationwide CPI, Jibun Bank manufacturing PMI.
UK Gfk consumer confidence, PSNB, PSNCR, retail sales, retail sales ex-fuel, Markit manufacturing PMI, Markit services PMI, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI.
Canada retail sales, retail sales ex-autos, and U.S. Markit manufacturing PMI, Markit services PMI, existing home sales.
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