Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jan 2019 05:30 GMT

EUR/USD - 1.1393
Despite euro's marginal weakness in New York session to a fresh 2-week low of 1.1370 on usd's gain following positive US/China trade talk news (but later denied), subsequent recovery suggests recent decline from January's 11-week peak at 1.1570 has possibly made a temporary bottom, above 1.1408 would bring retracement towards 1.1455 but res at 1.1491 should cap upside.

Only below 1.1370 risks marginal weakness, however, loss of downward momentum should limit downside to 1.1341/51 today and yield a long-overdue correction later today or Monday.

Today is the end of the 2-day G20 meeting of central bank deputies in Tokyo, we also have ECB's Lautenschlager speaking at 11:00GMT.

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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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