Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 26 Jun 2019 05:30 GMT

EUR/USD - 1.1360
Despite resumption of recent upmove to a fresh 3-month peak of 1.1412 in Asia, subsequent strong retreat to as low as 1.1345 after comments by Fed officials dampened market expectation of aggressive rate cuts suggests long-awaited correction of medium-term rise from 1.1108 (May) has taken place and 1-2 days of volatile trading is seen, reckon 1.1317 would contain weakness and bring rebound.

On the upside, only a daily close above 1.1398 (NY high Tue) signals pullback is over and would head towards next daily chart target at 1.1448 later this week.

Economic calendar is pretty thin in the euro area countries n Germany's Gfk consumer confidence is the only data due out at 06:00GMT. ECB's Governing Council member will be speaking at a legal conference in Frankfurt at 09:00GMT.

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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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