Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 16 Aug 2018 5:30 GMT

EUR/USD - 1.1348
Although euro's rebound from Wed's fresh 13-month trough at 1.1301 to 1.1355 on short covering in New York session suggests recent downtrend has made a temporary low and consolidation is in store, outlook remains mildly bearish for marginal weakness below 1.1300' loss of downward momentum should keep price above 1.1270/75.

On the upside, a daily close above 1.1365 would risk stronger correction to 1.1400, then later to 1.1429/33 before prospect of another fall next week.

Data to be released on Thursday :
Germany wholesale price index, UK retail sales, EU trade balance.
U.S. building permits, housing starts, initial jobless claims, Philadelphia Fed survey, and Canada manufacturing sales, ADP employment change.

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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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