Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 02 Nov 2018 05:20 GMT

EUR/USD - 1.1397
Although euro's rally from Wed's 2-1/2 month trough of 1.1303 to as high as 1.1424 in New York yesterday due to usd's broad-based usd's strength suggests recent decline has made a low there and sideways swings are expected ahead of release of key U.S. jobs data, a daily close above previous res at 1.1432 needed to turn outlook bullish for stronger retracement towards 1.1494, then possibly to 1.1550 later next week.

On the downside, below 1.1350/60 signals rebound is over and risk would shift to downside for test of key 2018 13-month bottom at 1.1301.

Data to be released later on Friday :
UK BRC retail sales, Markit construction PMI, Australia PPI, retail sales, Germany import prices, Markit manufacturing PMI, France budget balance, Markit manufacturing PMI, Swiss retail sales, Italy Markit manufacturing PMI, EU Markit manufacturing PMI.
U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, trade balance, ISM New York index, durable goods, factory orders, and Canada employment change, unemployment rate, trade balance, exports, imports.

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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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