Daily recommendations on major – EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major

Update Time: 18 Sept 2020 03:30GMT

EUR/USD - 1.1851

Despite the single currency's initial fall to a 1-month bottom at 1.1738 in Asia yesterday, subsequent rally to as high as 1.1852 near New York closing and intra-day break above this level suggests decline from September's 2-year peak at 1.2011 has made a temporary low there and consolidation with upside bias remains for gain to 1.1882, however, resistance at 1.1900 may hold and yield retreat later.

On the downside, only below 1.1789 would indicate aforesaid recovery has ended instead and turn outlook bearish for stronger weakness to 1.1754, then 1.1738 again.

Data to be released on Friday

Japan nationwide core CPI, nationwide CPI.

Germany producer price index, UK retail sales, retail sales ex-fuel, Italay industrial orders, industrial sales, EU current account.

U.S. current account, leading index change, University of Michigan sentiment index, and Canada retail sales, retail sales ex-autos, wholesale trade.

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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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