Daily Recommendations on Major - EUR/USD

Update Time: 15 Feb 2018 07:00 GMT

EUR/USD - 1.2459
Euro's intra-day rally in post-U.S. CPI New York session from 1.2276 to as high as 1.2465 signals early correction from Jan's 3-year peak at 1.2538 has ended there and upside bias remains for gain to 1.2500/10, break there would encourage for re-test of 1.2538 later today or tomorrow.

Expect 1.2392 (previous res, now sup) to hold for this move and only a daily close below there 'prolongs' volatile consolidation and risks stronger retracement to 1.2345/55.

Data to be released on Thursday:
Australia consumer confidence, employment change, unemployment rate, Japan machinery orders, industrial production, capacity utilization, machine tool orders.
France ILO unemployment rate, Italy trade balance, EU trade balance.
U.S. New York Fed manufacturing index, initial jobless claims, Philadelphia Fed Survey, PPI, Industrial production, capacity utilization, manufacturing output, NAHB housing market index


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