Daily Recommendations on Major -EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 14 Nov 2019 03:30GMT

EUR/USD - 1.1007
The single currency's fall to a 4-week trough at 1.0996 yesterday on risk aversion suggests decline from October's 2-month peak at 1.1179 has once again resumed and stronger retracement of upmove from 1.0880 to 1.0965/68 would be seen.
However, loss of momentum would keep price above support at 1.0942 and yield a correction later this week.

On the upside, only above 1.1074 would indicate a temporary low has been made and risk stronger gain to 1.1091 before prospect of retreat.

Pay attention to the release of EU GDP qq and yy for Q3 at 10:00GMT. Street forecasts are for unchanged readings at 0.2% and 1.1% respectively.

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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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