EUR/USD: Daily recommendations on major
|EUR/USD - 1.1292
Euro's impressive rally on Fri from 1.1206 to as high as 1.1330 in New York suggests downtrend from 2021 peak at 1.2349 (Jan) has made a temporary low at Wed's fresh 16-month 1.1187 bottom and despite intra-day retreat, as long as 1.1255 holds, consolidation with upside bias remains for another rise, loss of upward momentum would cap price below 1.1374 and yield decline.
On the downside, below 1.1255 signals recovery is over and heads back towards 1.1206.
The euro area countries will release a slew of eco. data, please refer to our EI page for details.
Pay attention to various EU's sentiment readings at 10:00GMT. We also have several ECB officials scheduled to speak, pay attention to speeches by ECB Vice President de Guindos at 08:30GMT n later ECB President Lagarde at 17:15GMT.
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