EUR/USD: Daily recommendations on Major

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 29 May 2020 03:30GMT

EUR/USD - 1.1080
Although euro's resumption of recent erratic upmove to a near 2-month high of 1.1093 due to usd's weakness suggests further gain is likely after consolidation, a breach above 1.1147 res needed to signal an 'upside break' of recent 1.0637-1.1147 broad range has occurred and would then head to 1.1200/10 next week.

On the downside, a daily close below 1.1030 would be the 1st signal temporary top is made, then risk is seen for a much-needed retracement to 1.0992, then later towards 1.0935.

Data to be released on Friday :
Japan Tokyo core CPI, CPI, unemployment rate, industrial output, retail sales, construction orders, housing starts, consumer confidence.
UK GfK consumer confidence, nationwide hose prices index, Germany import prices, retail sales, France consumer spending, GDP, CPI (EU norm), CPI, producer prices index, Swiss KOF indicator, Italy GDP, consumer price index, CPI (EU norm), EU HICP, core HICP, U.S. personal income, personal spending, core PCE price index, PCE price index, goods trade balance, wholesale inventories.
Chicago PMI, University of Michigan sentiment, and Canada GDP, producer prices, budget balance.

Author

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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