Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 29 Oct 2018 05:30 GMT

EUR/USD - 1.1394
Despite euro's anticipated resumption of recent decline to a 10-week low of 1.1336 ahead of New York open on Friday, failure to re-test 2018 bottom at 1.1301 (AUG) and subsequent strong rebound to 1.1421 at New York close suggests temporary trough has been made and sideways swings are in store.

A daily close above 1.1432 res would bring stronger retracement to 1.1477 but 1.1494 should cap upside whilst below 1.1355 signals recovery over and yields weakness towards 1.1301.

The only eco. data due out from the euro area countries is Italy's PPI for September.

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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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