Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 15 Jan 2018 06:00 GMT

EUR/USD - 1.2202
Friday's spectacular rally above 2017 high at 1.2093 (now sup) to a 3-year peak of 1.2218 near NY close suggests euro's uptrend would resume after minor consolidation, however, overbought condition is likely to prevent strong gain and reckon projected res at 1.2275/80 may hod on 1st testing and yield a much-needed modest retracement later today in holiday-thinned N. American session or tomorrow.

On the downside, only below 1.2150/60 may risk stronger pullback to 1.2132/37 before prospect of another rise later this week.

With U.S. financial markets closed for a holiday n the only eco. data fm the euro area countries is EI trade balance, funds flow will have a great influence on intra-day price swings.

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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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