Daily Recommendations on Major - EUR/USD

  DAILY MARKET OUTLOOK on Major
Update Time: 08 Dec 2017 05:30 GMT

EUR/USD - 1.1768
Although yesterday's intra-day wild swings ended with euro's resumption of recent decline to a 2-week low at 1.1772 near New York close after early brief rebound to 1.1814, loss of downward momentum would prevent steep fall today ahead of release of key U.S. jobs data and reckon daily sup at 1.1714 would remain intact.

On the upside, a daily close above 1.1814 signals decline from 1.191 has made a temp. low, then stronger gain to 1.1848 and later to 1.1877/78 would follow.

Eco. calendar in the euro area is pretty light with Germany's trade balance and France's industrial output being the only the data due out but all eyes are on U.S. payrolls number.

 

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