Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 06 Dec 2018 05:30 GMT

EUR/USD - 1.1348
Euro's decline from Tuesday's 10-day high at 1.1420 to as low as 1.1311 yesterday suggests early erratic rise from last week's 1.1267 bottom has ended and although subsequent rebound in holiday-thinned North American trading would bring sideways swings in Asia, intra-day selloff in Asian stocks should prompt USD buying as safe-haven currency.

Below 1.1305/11 sup would pressure price towards 1.1267 and only above 1.1380/90 'prolongs' choppy consolidation, risks another rise towards 1.1420 later.

Euro zone eco. calendar is pretty light today, Germany will release industrial orders n then we have France's current account. There is a ECB General Council meeting at 08:00GMT so we may have some comments from ECB officials during the day.

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