DAILY MARKET OUTLOOK on Major
Update Time: 27 May 2019 05:30 GMT
EUR/USD - 1.1210
Although euro's resumption of near term upmove from last Thursday's 2-year bottom at 1.1108 to 1.1212 Friday due to broad-based usd's weakness confirms Medium Term downtrend has made a temporary low, o/bot condition should prevent strong gain today and reckon previous res 1.1265 (April's high) would cap upside and yield retreat later today or tomorrow.
On the downside, only below sup area at 1.1173/79 signals 1st leg of correction is over and yields retracement to 1.1145/55 before prospect of rebound.
No eco. data is due out from the euro area, so order flows will have a greater impart to intra-day price swings. ECB's Coeure will be delivering a speech organised by BIS in Basel, Switzerland.
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