Daily Recommendations on Major -EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 10 Dec 2019 03:30GMT

EUR/USD - 1.1064
Despite yesterday's rebound to 1.1078, subsequent retreat suggests further choppy trading below last Wednesday's 4-week peak at 1.1115 would continue with mild downside bias, however, Friday's low at 1.1041 should remain intact and yield another rise towards said top, break would extend recent upmove from 1.0982 to 1.1140 later.

On the downside, only below 1.1041 would revive bearishness for stronger retracement of aforesaid upmove to 1.1004 but 1.0982 should hold on first testing.

Pay attention to the release of Germany ZEW economic sentiment and current conditions at 10:00GMT. Street forecasts are 0.0 and -22.3 vs previous readings of -2.1 and -24.7 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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