EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 04 June 2020 03:30GMT

EUR/USD - 1.2220
Euro's intra-day retreat in Asia after climbing to a near 3-month peak of 1.1257 (New York) yesterday suggests range trading is in store ahead of ECB policy meeting, as long as 1.1185 holds, outlook remains mildly bullish for marginal gain, loss of upward momentum should cap price below 1.1300.

A daily close below 1.1185 would risk stronger retracement towards 1.1153 but reckon 1.1100/10 should remain intact.

On the data front, the only economic data due out is EU's retail sales.

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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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