EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1848
The single currency's selloff from yesterday's Asian high at 1.1952 to as low as 1.1831 in New York afternoon after the release of FOMC minutes suggests Medium Term upmove has made a temporary top at Tuesday's fresh 2-year peak at 1.1965 and consolidation with downside bias remains for weakness to 1.1783, however, oversold condition would keep price above 1.1755/56 and yield rebound later.

On the upside, only above 1.1915 would indicate aforesaid correction has ended instead and turn outlook bullish for a re-test of 1.1965 early next week.

In the absence of major economic data from EU today, one should pay attention to the release of minutes from ECB's last meeting at 11:30GMT.

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