EUR/USD: Daily recommendations on major
|EUR/USD - 1.2090
Despite yesterday's anticipated resumption of decline from last Thursday's 6-week peak of 1.2242 to 1.1992 (Europe), subsequent rally due to broad-based usd's weakness on return of risk appetite suggests temporary low is made and 1-2 days of sideways consolidation is seen.
As long as 1.2139/41 holds, downside bias remains for another fall, below 1.2.16/21 would bring re-test of 1.1992 while break of said res may risk stronger gain to 1.2175/80.
Today is PMI day in the euro area countries, we have ECB board member Weidmann n other ECB offcials scheduled to speak in European and New York sessions, please refer to our Economic Indicator 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.