EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 10 July 2020 03:30GMT

EUR/USD - 1.1281
Despite resumption of recent upmove to a fresh 3-week high of 1.1371 (Europe) in Thursday, subsequent selloff to as low as 1.1281 as the greenback caught a bid in New York due to safe-haven buying suggests temporary top is made and consolidation with downside bias is seen for weakness to 1.1260, oversold condition should keep euro above 1.1220 sup.

On the upside, only above 1.1348/51 signals pullback has possibly ended and risks re-test of 1.1371 but 1.1398/03 should cap upside today.

Data to be released on Friday :
New Zealand retail sales, Japan corporate goods price index, France industrial output, Italy industrial output, U.S. PPI, core PPI, and Canada employment change, unemployment rate.

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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