EUR/USD: Daily recommendations on major
|EUR/USD - 1.1820
Despite yesterday's sideways swings following early retreat from 1.1845 to 1.1800 on Tuesday, as this move signals recovery from Monday's 1.1771 low has possibly ended, downside bias remains, a daily close below 1.1800 would encourage for resumption of decline from September's 1.1908 peak, however, loss of downward momentum should keep price above 1.1730/35.
Only above 1.1845/51 res area dampens bearish outlook and may risk stronger gain to 1.1884/86 but only break there would yield subsequent re-test of 1.1908.
Data to be released on Thursday:
New Zealand GDP, Japan exports, imports, trade balance, Australia consumer inflation experience, employment change, unemployment rate, RBA Bulletin.
Italy trade balance, EU trade balance.
Canada housing starts, wholesale trade, ADP employment change, U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, retail sales and business inventories.
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.