Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 20 Jun 2019 05:30 GMT

EUR/USD - 1.1266
Yesterday's rally in post-FOMC New York trading to 1.1254 and intra-day break above this level in Asia due to renewed usd's weakness suggests recent decline has made a low at Tuesday's 2-week trough at 1.1182 and consolidation with upside bias remains for further gain, however, near term overbought condition should cap euro at 1.1303/08 and yield retreat later today or tomorrow.

On the downside, below 1.1221/25 would be the first signal top is made, then risk would shift to the downside for weakness to 1.1200/01, then 1.1182/88.

Data to be released on Thursday :
New Zealand GDP, Japan Bank of Japan interest rate decision, all industry activity index.
Swiss trade balance, exports, imports, France GDP, UK retail sales, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, BoE interest rate decision, BoE QE total, BoE QE corporate bond purchases.
U.S. current account, initial jobless claims, Philadelphia Fed survey, Canada ADP employment change, and EU consumer confidence.

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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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