Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 19 Nov 2018 05:30 GMT

EUR/USD - 1.1408
Euro's impressive rally above indicated res area at 1.1362/69 to as high as 1.1421 due to usd's weakness in New York on Friday confirms Medium Term downtrend has made a low at last Monday's 16-month bottom at 1.1216 and upside bias remains for gain to 1.1450/60, however, reckon daily res at 1.1500 should hold.

On the downside, only a daily close below 1.1369 signals 1st leg of correction is over and risks stronger retracement to 1.1310/20.

Data to be released later day :
New Zealand PPI, Japan exports, imports, trade balance, UK Rightmove house price, EU current account, construction output and U.S. NAHB housing market index.

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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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