EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1781

The single currency's selloff from yesterday's European high at 1.1882 to as low as 1.1789 in post-FOMC New York, then lower to 1.1769 today suggests early recovery from last Wednesday's near 4-week trough at 1.1754 has ended at 1.1917 last Thursday and consolidation with downside bias remains for a re-test of said support, break would extend decline from September's 2-year peak at 1.2011 to 1.1730/35 later.

On the upside, only above 1.1854 would dampen daily bearishness and risk stronger gain to 1.1882, then 1.1900 before prospect of retreat.

Data to be released on Thursday :
New Zealand GDP, Australia employment change, unemployment rate, Japan BoJ interest rate decision.
Swiss trade balance, exports, imports, Italy trade balance, EU construction output, HICP, core HICP, UK BoE interest rate decision, BoE asset purchase program, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut.
U.S. building permits, housing starts, initial jobless claims, continued jobless claims, Philadelphia Fed manufacturing survey, and Canada ADP employment change.

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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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