Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 10 Jan 2018 0630 GMT

EUR/USD - 1.1943
Euro's decline on Tue from 1.1976 (Asia) to 1.1916 in New York due to broad-based selling of the euro as well as usd's strength on soaring U.S. yields confirms recent upmove has made a top at last Thursday's 3-1/2 month high at 1.2089 n as long as 1.1976 holds, downside bias remains for marginal weakness, however, loss of momentum should keep price above 1.1885.

On the upside, a daily close above 1.1976 needed to signal said decline has made a temporary low and outlook would turn bullish for subsequent headway towards 1.2021.

Eco. data in the euro area is very light with France's industrial production being the only data due out, so funds flow will have a greater influence on intra-day price swings during European trading.

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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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