Daily Recommendations on Major -EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 28 Nov 2019 03:30GMT

EUR/USD - 1.1006
The single currency's break of Monday's low at 1.1004 to 1.0993 yesterday suggests correction from November's low at 1.0990 has ended at 1.1096 last Thursday and consolidation with downside bias remains for a re-test of aforesaid support, break would extend decline from October's 2-month peak at 1.1179 to 1.0970/75, however, loss of momentum would keep price above at 1.0942 and yield correction.

On the upside, only above 1.1053 would indicate a temporary low has been made and risk stronger retracement to 1.1081, then 1.1096 later.

Data to be released on Thursday:

UK YouGov MRP poll release, Japan retail sales, New Zealand NBNZ business outlook, NBNZ own activity, Australia capital expenditure, building capex, Swiss GDP, Italy producer prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. market holiday, and Canada current account, average weekly earnings.

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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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