Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 18 Sept 2019 06:30GMT

EUR/USD - 1.1071
Despite euro's decline from 1.1109 (Friday) to 1.0991 yesterday, subsequent rebound to 1.1074 in New York session due to broad-based liquidation of long usd positions ahead of FOMC's decision later today suggests price would 'gyrate' inside 1.0928-1.1109.

Only above 1.1109 would extend erratic rise from September's 27-month bottom at 1.0927 towards next daily chart objective at 1.1164 whilst below 1.0991 would pressure price back down to good sup at 1.0927/28.

On the data front, Italy will kick off with industrial order n sales then trade n good balance, the EU will release construction output, finaly HICP n core HICP. We have a number of ECB officials delivering speeches during the day, please refer to our EI 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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