Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 22 Jul 2019 05:30 GMT

EUR/USD - 1.1218
Despite euro's 1-week long daily choppy trading from July's 1.1194 low to 1.1285, Friday's intra-day sharp fall from 1.1281 (AUS) to 1.1204 in New York due to renewed usd's strength suggests re-test of said sup would be seen after consolidation, break there would extend decline from June's 1.1412 peak to 1.1182, loss of momentum is likely to keep price above projected sup at 1.1150.

On the upside, only above 1.1285 'prolongs' broad sideways swings and risks stronger correction of said fall to 1.1311/21 before prospect of retreat later this week.

No eco. data is due out from the euro area countries today but we have Germany's Bundesbank monthly report scheduled to be released at 10:00GMT.

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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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