Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 15 Aug 2019 05:30 GMT

EUR/USD - 1.1191
Euro's daily swings in last few sessions after hitting a 2-week high of 1.1249 (Tuesday) are expected to continue and as long as 1.1168 (reaction low) holds, recent upmove from August's 2-year bottom at 1.1028 would head towards next daily target at 1.1285 after consolidation.

Only a daily close below 1.1168 signals first leg of correction has ended, then risk would shift to downside for a stronger retracement of aforesaid rise to 1.1130/35, however, reckon 1.1100/05 would remain intact.

The euro area countries will release a slew of economic data during European morning, please refer to our economic indicator section for details.

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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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