Daily recommendations on major – EUR/USD
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Update Time: 15 July 2021 03:00GMT.
EUR/USD - 1.1832
Despite yesterday's initial re-test of Tue's 3-month trough at 1.1773, subsequent rebound on intra-day falling U.S. yields and then gain to 1.1838 in New York following J. Powell's dovish testimony suggests recent decline has made a temporary low, as long as 1.1800 holds, stronger retracement is envisaged, reckon res at 1.1894 would cap upside.
A daily close below 1.1800 signals correction is over and price may yield weakness towards 2021 bottom at 1.1705 (March) next week.
Data to be released on Thursday
Australia consumer inflation, employment change, unemployment change, China house prices, industrial output, retail sales, GDP, Japan tertiary industrial activity.
Germany wholesale price index, U.K. Claimant count, ILO unemployment rate, employment change, average weekly earnings, Italy CPI.
U.S. New York Fed manufacturing, import prices, export prices, initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, industrial production, capacity utilization, manufacturing output, NAHB market index and Canada ADP employment change.
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