EUR/USD recent downtrend would head towards projected target at 0.9760
|EUR/USD - 0.9839
Despite euro's rebound from Asian fresh 2-decade low of 0.9810 Thur to 0.9908 in Europe due to yen-led usd's decline, subsequent weakness to 0.9813 in New York suggests recent downtrend would head towards projected target at 0.9760 before prospect of correction.
On the upside, only a daily close above 0.9908/10 res would confirm a temporary trough made and risk stronger retracement to 0.9945/55.
Data to be released on Friday
Australia manufacturing PMI, services PMI, U.K. Gfk consumer confidence, Japan market holiday.
France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, U.K. S n P manufacturing PMI, S n P global services PMI, CBI distributive trades.
Canada retail sales, U.S. S n P manufacturing PMI and S n P global services PMI.
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