Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 04 May 2017 02:21 GMT

EUR/USD - 1.0888
Although yesterday's intra-day erratic fall from 1.0937 (Asia) to 1.0883 in post-FOMC New York after hawkish Fed statement suggests further choppy trading below last Wed's fresh 5-month peak would continue, probably until Friday's key U.S. jobs report, reckon previous sup at 1.0852 would contain weakness and bring rebound.

On the downside, only a daily close below indicated 1.0852 sup shifts risk to the downside for stronger retracement of recent uptrend to 1.0821, then 1.0800/05 before prospect of rebound.

Data to be released on Thursday:

Australia construction index, exports, imports, trade balance, Japan market holiday, China services PMI.

Swiss consumer confidence, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, UK mortgage approvals, services PMI.

U.S. trade balance, jobless claims, labour costs, productivity, factory orders, Canada exports, imports and trade balance.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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