Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 19 Feb 2019 05:30 GMT

EUR/USD - 1.1307
Despite the single currency's fall to a fresh 2-1/2 month trough at 1.1234 on Friday, subsequent rally to 1.1334 yesterday suggests recent erratic decline has made a temporary low there and choppy trading with upside bias would be seen for gain towards 1.1344, however, over bought condition would keep price well below 1.1380 and yield retreat later this week.

On the downside, only below 1.1234 would revive bearishness for weakness towards 2018 trough at 1.1216 (November), break would extend Medium Term decline towards 1.1180 before prospect of a correction.

Data to be released on Tuesday :
Swiss trade balance, exports, imports, Italy industrial orders, industrial sales, EU current account, construction output, ZEW economic sentiment, UK claimant count, ILO unemployment rate, employment change, average weekly earnings, Germany ZEW economic sentiment, ZEW current conditions.
U.S. NAHB housing market index.

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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GBP/USD reclaims 1.3600 and above

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