Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jun 2018 6:30 GMT

EUR/USD - 1.1576
Despite yesterday's resumption of decline from last week's 1.1852 high to 1.1531 in Europe, subsequent short-covering rebound in New York suggests further choppy trading above May's 10-month bottom at 1.1510 would continue and gain to 1.1624/27 can't be ruled out but 1.1645 should remain intact.

Below 1.1550 would head towards 1.1510 but loss of downward momentum should keep price above 1.1480 today.

On the eco. data front, German PPI is the only data due out. The ECB Forum on Central Banking in Sintra, Portugal continues today with a number of ECB officials and Fed chairman J. Powell and other central bankers scheduled to speak during the day (pls refer to EI page for details).

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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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GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

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Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

US NFP and CPI data awaited after Warsh’s nomination as Fed chief. Yen traders lock gaze on Sunday’s snap election. UK and Eurozone Q4 GDP data also on the agenda. China CPI and PPI could reveal more weakness in domestic demand.

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XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.