Daily Recommendations on Major - EUR/USD

Update Time: 10 Aug 2018 5:30 GMT

EUR/USD - 1.1531
Despite yesterday's initial intra-day sideways swings, euro's selloff in New York session due to renewed usd's strength and then subsequent break of Monday's 1-month low at 1.1530 to 1.1517 today suggests re-test of June's 11-month bottom is on the cards where a break of 1.1500 level would extend Medium Term downtrend towards 1.1448 target early next week.

On the upside, only a daily close above 1.1573 signals temporary low is made and risks 1.1610/20.

Data to be released on Friday :
New Zealand manufacturing PMI, retail sales, Japan corporate goods price, GDP, tertiary industry index, France industrial output, .
Italy trade balance, global trade balance, UK GDP, industrial output, manufacturing output, construction output, trade balance.
U.S. CPI, core CPI, real weekly earnings, Federal budget, and Canada employment change, unemployment rate.

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