Daily Recommendations on Major - EUR/USD

Update Time: 11 Jan 2019 05:30 GMT

EUR/USD - 1.1519
Despite yesterday's initial marginal gain above previous high to an 11-week peak of 1.1570 in Asia, subsequent stronger-than-expected decline due to broad-based profit taking in euro to a low as 1.1485 in New York afternoon following mildly hawkish comments by Fed's J. Powell suggests recent upmove has made a temporary top and intra-day rebound would yield range trading.

Below 1.1485 would bring stronger retracement of recent rise from 1.1216 (November) towards 1.1440 whilst above 1.1545 may bring re-test of 1.1570 but break there needed to revive bullishness for resumption of upmove towards 1.1621 next week.

Data to be released on Friday : 
Australia AIG construction index, retail sales, New Zealand building permits, Japan household spending, current account, trade balance, Eco. Watchers outlook, Eco. Watchers current.
Italy industrial output, UK GDP, industrial output, manufacturing output, construction output, goods trade balance, trade balance, NIESR GDP estimate, EU ZEW economic sentiment.
U.S. CPI, real weekly earnings, trade balance, Federal budget.

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.