Daily Recommendations on Major -EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 20 Apr 2018 05:30 GMT

EUR/USD - 1.2338

Although yesterday's erratic rise to 1.2400 signals euro's 1st leg of correction from Tuesday's 2-week high at 1.2414 has ended at 1.2337, subsequent selloff to 1.2229 on broad-based usd's strength in New York suggests choppy sideways swings would continue and may head to 1.2300/10 before rebound.

Only above 1.2400 would risk re-test of 1.2414, however, loss of upward momentum should cap price below 1.2446.

On the data front, Germany will release producer price index n the later in New York, we have EU's consumer confidence. German FinMin Scolz and ECB Board member Weidmann will speak at 11:30GMT.

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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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