Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 18 Jul 2019 05:30 GMT

EUR/USD - 1.1234
Although euro's decline from last week's high at 1.1285 to 1.1201 (Europe) yesterday's suggests early correction from July's low at 1.1194 has ended there, subsequent bounce to 1.1233 due to usd's broad-based weakness caused by falling U.S. yields, then intra-day break of said Wednesday's high in Asia suggests choppy trading above 1.1194 would continue.

Above 1.1254 would yield another rise towards 1.1285 whilst below 1.1201 would re-test 1.1194, then 1.1182, however, loss of downward momentum should keep euro above 1.1150.

There is no eco. data from the euro area counties, however, today is the second of the 2-day meeting of the G7 FinMIns n central bank Governors in Chantilly, France where ECB Preisent Draghi and board member Coeure will particpate in the meeting.

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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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