Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 23 May 2018 5:30 GMT

EUR/USD - 1.1781
Euro's intra-day decline from 1.1830 (Europe) to .1770 in New
York suggests correction from Mon's 6-month trough at 1.1717 has possibly ended, below 1.1750 would add credence to this view and yield re-test of said temp. low, 'loss of downward momentum' would limit weakness to 1.1685/90 today.

Only a daily close above 1.1830 risks stronger retracement to 1.1854 and possibly to 1.1875.

Data to be released on Wednesday :
France ILO unemployment rate, Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, consumer confidence, U.K. DCLG Hosue Price Index, core CPI, CPI, RPI, Core RPI, PPI input price, PPI output price, PPI core output, CBI distributive trades.
U.S. MBA mortgage application, building permits, Markit manufacturing PMI, Markit services PMI, new home sales, FOMC minutes.

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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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