DAILY MARKET OUTLOOK on Major
Update Time: 11 Dec 2019 03:30GMT
EUR/USD - 1.1093
Despite euro's selloff from last Wednesday's 4-week peak at 1.1115 to 1.1041 last Friday, subsequent rebound to 1.1078 on Monday, then higher to 1.1097 yesterday suggests the pullback is over and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove from 1.0982 towards 1.1140 before prospect of retreat later this week.
On the downside, only below 1.1041 would indicate a temporary top has been made and risk stronger retracement to 1.1004 but 1.0982 should hold on 1st testing.
Data to be released on Wednesday :
New Zealand retail sales, UK YouGov final MRP poll release, Australia consumer sentiment, Japan corporate goods price, producer price index, Canada capital utilization, and U.S. MBA mortgage applications, CPI, core CPI, real weekly earnings, Federal budget, Fed interest rate decision.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.