Daily Recommendations on Major -EUR/USD

 DAILY MARKET OUTLOOK on Major 
Update Time: 11 Aug 2017 02:35 GMT

EUR/USD - 1.1770
Yesterday's anticipated rise to 1.1784 after weak U.S. PPI data confirms euro's 1st leg of correction from last week's fresh 2-1/2 year peak at 1.1909 has ended at 1.1689 (Wednesday) and consolidation with upside bias remains for further gain.
However, near term o/bot condition may cap price at 1.1824 and yield subsequent retreat.

On the downside, only below 1.1705 dampens bullish view and may risk re-test of 1.1689.

Data to be released on Friday: 
New Zealand manufacturing PMI, food price index, Japan's market holiday Germany CPI, HICP, France CPI, nonfarm payroll prelim, Italy CPI, and U.S CPI, core CPI.
 

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