Daily Recommendations on Major -EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 18 May 2018 05:30 GMT

EUR/USD - 1.1803
Although yesterday's erratic fall from 1.1838 to 1.1777 suggests euro's correction from Wed's 5-1/2 month bottom at 1.1763 has possibly ended, subsequent sideways move in New York would bring consolidation initially today before one more fall, loss of downward momentum should keep price above daily sup at 1.1718.

Only a daily close above 1.1845 confirms a temporary low is made and risk stronger retracement to 1.1890/00.

Data out on Friday :
Japan national CPI, national core CPI, Germany producer prices, wholesale price index, EU current account, trade balance, and Canada CPI, CPI BoC core, retail sales, retail sales ex-autos.

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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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