EUR/USD: Daily recommendations on major
|EUR/USD - 1.1870
Friday's resumption of recent decline to a 2-1/2 month trough of 1.1848 (New York) due to active safe-haven usd buying suggests euro would extend further weakness after minor consolidation, however, near term loss of momentum is likely to keep price above above 1.1786 and risk has increased for a correction.
On the upside, only above 1.1925 signals temporary low is made and yields retracement towards 1.1950 before retreat.
No eco. data is due out from the euro area countries. ECB President Lagarde will appear at the Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament at 14:15 GMT.
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