EUR/USD: Daily Recommendations on major
|EUR/USD - 1.1866
Although euro's daily choppy sideways swings following early retreat from Friday's 1-month high of 1.1909 to 1.1852 would continue, downside bias remains and below 1.1852 would bring stronger retracement of early upmove from July's 1.1753 bottom to 1.1800/10 later this week.
Only above 1.1909 risks marginal gain, however, loss of upward momentum would cap price below 1.1944 and yield decline.
Today is PMI day in the euro area countries (pls refer to EI page for detials), pay attention to German n EU's Markit services PMI, a lower-than-expected reading would weigh on euro.
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