Daily Recommendations on Major -EUR/USD


  DAILY MARKET OUTLOOK on Major 
Update Time: 11 Jan 2017  01:24 GMT 

EUR/USD - 1.0557
Despite yesterday's initial brief break of last Friday's high at 1.0622 to 1.0627 in Asia, subsequent retreat to 1.0559 in Europe, then 1.0552 in New York afternoon session confirms early erratic rise from last Tuesday's near 14-year bottom at 1.0341 has indeed made a temporary top and a day of consolidation with near term downside bias is seen, reckon 1.0481/83 would contain weakness and bring subsequent rebound.  
  
On the upside, expect 1.2600/04 to cap intra-day recovery and yield further decline and only above there may risk one more rise twd daily res at 1.2655 before prospect of a correction.

 

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