Daily Recommendations on Major -EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 26 May 2017 01:00 GMT

EUR/USD - 1.1208
Despite euro's intra-day gain to 1.1251 in Europe, subsequent strong retreat to 1.1194 suggests further 'choppy' trading below Tue's fresh 6-month peak at 1.1268 would continue, as long as previous sup area at 1.1162/69 holds.
Outlook remains mildly bullish for Medium Term upmove to head to 1.1280/85 but reckon res at 1.1300 should cap upside.

A daily close below 1.1162 confirms temporary top is in place, then risk would shift to the downside for stronger retracement to 1.1140/45 and possibly towards 1.1098 next week.

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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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