Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 09 Nov 2018 05:30 GMT

EUR/USD - 1.1362
Euro's intra-day selloff from 1.1447 (Europe) on Thursday to as low as 1.1352 after Fed's hawkish hold suggests correction from October's 1.1303 low has ended at 1.1500 on Wednesday and consolidation with downside bias remains for weakness towards said sup but break of key 2018 13-month bottom at 1.1301 (August) needed to retain bearishness for resumption of downtrend to 1.1240/50 next week.

On the upside, only above 1.1447 'prolongs' choppy sideways swings and may risk another rise back to 1.1470/80 but reckon 1.1500 would remain intact.

Eco calendar in the EZ is very light today with France's industrial output being the only data due out. ECB Governing Council member Coeure will deliver a speech in Frankfurt at 10:00GMT.

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AceTrader Team

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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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