Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 11 Oct 2019 03:30GMT

EUR/USD - 1.1013
Euro's rally above Monday's 1.1000 high to a 2-week top at 1.1034 (Europe) yesterday confirms recent upmove from October's fresh 28-month bottom at 1.0880 has resumed and subsequent pullback in New York session would bring consolidation before heading to 1.1075, loss of upward momentum should cap price below key res at 1.0109.

Only a daily close below 1.1000 signals temporary top is in place and risk would shift to the downside for stronger retracement towards 1.0942 early next week.

On the data front, the only eco. data from euro area countries is Germany's final CPI and HICP. Outgoing ECB President Draghi will speak at a university event in Milan 09:30GMT, then ECB VP de Guindos will speak at a banking event in Madrid at 10:30GMT.

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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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