EUR/USD: Daily recommendations on major
|EUR/USD - 1.1933
Euro's break of 1.1921/25 res to 1.1952 yesterday's due to broad-based USD's weakness following Fed J. Powell's dovish testimony before the Congress confirms recent decline from 1.2266 (May) has made a temporary low earlier at 1.1848 (Friday), near term overbought condition should prevent strong gain and recon res at 1.2006 should cap upside and yield retreat later this week.
On the downside, a daily close below 1.1921 would be the first signal recovery is over, then risk would shift to downside for weakness to 1.1882.
Data to be released on Wednesday
Australia manufacturing PMI, services PMI, Japan Jibun bank manufacturing PMI, coincident index, leading indicator.
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, U.K. Markit manufacturing PMI, Markit services PMI.
U.S. MBA mortgage app, building permits, current account, Markit manufacturing PMI, Markit services PMI, new home sales, and Canada retail sales.
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