EUR/USD: Daily recommendations on major
|EUR/USD - 1.2017
Despite euro's recovery after yesterday's resumption of recent decline from April's 8-week peak of 1.2149 to 1.2000 (Europe), outlook remains mildly bearish for one more fall, however, near term loss of downward momentum should keep price above sup at 1.1943 and bring rebound later today or tomorrow.
Only a daily close above 1.2035 (Tuesday's New York high) signals temporary low is in place and may risk stronger retracement towards 1.2075 before another fall.
Today is PMI day in the euro area countries, pls refer to our EI page for details n pay attention to Markit services PMI for Germany n the EU at 07:55GMT n 08:00GMT respectively, if actual readings come in below street forecast, euro will fall b4 prospect of recovery. ECB Board member Lane will participate in a financial event at 14:00GMT.
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.