Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 11 Dec 2018 05:30 GMT

EUR/USD - 1.1364
Despite extending last week's upmove to a fresh 2-week high of 1.1443 initially in Asia on Monday, subsequent 'cable-led' selloff to as low as 1.1350 in New York partly due to renewed usd's strength suggests recent erratic rise from 1.1267 has made a top there an stronger retracement to 1.1305/11 sup area can't be ruled out before prospect of rebound due to near term oversold condition.

On the upside, a daily close above 1.1400 suggests pullback is over and would head back towards 1.1443 but key res at 1.1472 should remain intact.

Euro area countries will release a slew of eco. data starting with France's non-farm payrolls, then EU's Sentix economic sentiment. ECB Vice President Guindos will deliver a speech in Frankfurt, then ECB's Angeloni.

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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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