DAILY MARKET OUTLOOK on Major
Update Time: 18 Dec 2017 06:00 GMT
EUR/USD - 1.1745
Despite euro's initial rebound from 1.1765 (AUS) to 1.1812, subsequent selloff in New York session to 1.1749 on renewed hopes of U.S. tax overhaul suggests decline from last week's high at 1.1863 may head to sup area at 1.1714/18, break needed to extend recent erratic fall from November's 2-month peak at 1.1961 to 1.1670/78 later this week before prospect of rebound.
On the upside, above 1.1812 anytime signals pullback from 1.1863 has ended and outlook would turn bullish for re-test of this res level.
On the eco. data front, Italy will release trade balance n the EU's final CPI for November. The German Bundesbank will publish its monthly report during European morning.
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