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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD trims intraday gains returns to mid-1.17

The EUR/USD pair retreated after flirting with the 1.1800 figure, as the market mood somehow turned sour. Focus on the next US fiscal relief package, coronavirus, and economic progress.

EUR/USD News

GBP/USD approaches 1.3000 once again

GBP/USD is easing towards weekly lows as dollar bulls are giving it another try. Brexit concerns and UK lockdowns in the eye of the storm.

GBP/USD News

XAU/USD bull-bear tug-of-war extends around $1975

XAU/USD sidelined heading into the European session. Downside limited by dollar weakness, coronavirus concerns. Focus remains on the USD dynamics and the United States/China updates.

Gold News

What you need to know about trading in August

The generally received wisdom is that summer is a quiet month for trading. Traders are on holiday and markets quieten down. That’s the expectation among many. However, the reality is that August can be one of the most volatile trading months of the year.

Read more

WTI: Bulls await API data to attack $41.00

WTI struggles to extend recovery moves from $40.74 beyond $41.00. Virus woes join OPEC output increase to combat drop in Russian oil production. US Factory Orders, API inventories will be the key.

Oil News

Forex Majors

Cryptocurrencies

Signatures