Daily Recommendations on Major -EUR/USD

  DAILY MARKET OUTLOOK on Major 
Update Time: 15 Nov 2017 05:20 GMT

EUR/USD - 1.1794
Yesterday's impressive rally in Europe after robust German data and then intra-day break of previous November's 1.1691 high to a 2-1/2 week high of 1.1805 in New York suggests euro's major correction from September's 2-1/2 year peak at 1.2093 has ended earlier last week at 1.1554 and price is en route twd next daily chart obj. at 1.1880 (Oct's top). 

Expect 1.1730/40 to hold for this move and only below 1.1691 would dampen present bullish view on the euro.

Some eco. data are due out during European morning starting with France's CPI and EU's trade data. 
ECB's Chief Economist Praet will be speaking at a conference in FFT at 10:00GMT. 

 

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