Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 16 Aug 2019 05:30 GMT

EUR/USD - 1.1098
Despite euro's selloff from 1.1158 on Thursday due to dovish comments from ECB's Rehn and then break of 1.1131 support to 1.1092 in New York suggests correction from August's 26-month trough at 1.1028 has ended earlier at 1.1249, loss of momentum should keep price above 1.1061/71 and yield rebound.

On the upside, only above 1.1131 would yield retracement to 1.1158/63 before prospect of another fall.

Economic calendar from the euro area countries is very thin today with the EU's trade balance being the only data due out at 09:00GMT.

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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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