Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 29 Jan 2019 05:30 GMT

EUR/USD - 1.1427
Yesterday's resumption of upmove from last Thursday's 5-week low at 1.1290 to 1.1445 (New York) signals recent decline from Jan's 11-week peak at 1.1570 has ended there and consolidation with upside bias remains for marginal gain, however, 'loss of momentum' is expected to cap price below res at 1.1491 and yield retreat later today or tomorrow.

On the upside, only below 1.1380/90 indicates temporary top is in place n risks stronger retracement of aforesaid rise to 1.1340/50 before prospect of another bounce.

Data to be released on Tuesday:
New Zealand imports, exports, trade balance, Australia NAB business conditions, NAB business confidence.
Swiss trade balance imports, exports, France consumer confidence,.
U.S. redbook, CS home price, consumer confidence.

Author

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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