Daily recommendations on major – EUR/USD
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Update Time: 08 Dec 2021 03:00GMT.
EUR/USD - 1.1277
Despite euro's intra-day selloff from 1.1299 and then a brief break of last week's 1.1236 low to 1.1229 in New York, lack of follow-through selling and subsequent rebound suggests further choppy swings above November's 16-month 1.1187 bottom may continue.
On the upside, only above 1.1299 would risk stronger recovery to 1.1320/30 before retreat while below 1.1229 needed to revive bearish prospect of weakness towards 1.1187 later this week.
Data to be released on Wednesday
Japan current account, trade balance, GDP, Eco watchers current, Eco watchers outlook, China exports, imports, trade balance.
France non-farm payrolls, Italy Market Holiday.
U.S. MBA mortgage application, JOLTS job opening and Canada interest rate decision.
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