Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 12 Sept 2018 06:30 GMT

EUR/USD - 1.1592
Yesterday's decline from 1.1644 (Europe) to 1.1565 due to renewed global trade tensions suggests euro's correction from Monday's 2-1/2 week low at 1.1526 has possibly ended and consolidation with downside bias is seen ahead of Thursday's ECB monetary policy meeting, below 1.1565 would pressure price towards 1.1526.

Only above 1.1644 would signal early retracement from August's 1.1734 peak has ended, then stronger gain to 1.1659 and later to 1.1680/90 would be seen.

Data released on Wednesday :
Japan business survey index, Australia consumer sentiment, Italy industrial output, EU employment change, industrial production, U.S. MBA mortgage application, PPI, beige book, and Canada capacity utilization.

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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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