EUR/USD: Daily recommendations on major
|EUR/USD - 1.1761
Yesterday's resumption of recent decline from September's 1.1809 peak to a 2-1/2 week trough of 1.1752 in New York after a huge upbeat beat in U.S. retail sales and rally in U.S. yields suggest said move would resume after range trading, near term loss of downward momentum would keep euro above 1.1696/00 today.
On the upside, only a daily close above 1.1800 signals temporary low is in place, then risk would shift to upside for stronger retracement to 1.1845/50 next week.
EU will release a slew of eco. data, please refer to our EI page for details.
We also have ECB board member de Cos scheduled to speak at 08:00GMT.
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