EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1901
Despite Monday's selloff from 1.1906 to 1.1800 on upbeat U.S. data, subsequent rebound to 1.1905 in Asia today suggests pullback has ended and re-test of November's 7-week 1.1919 peak would be seen after consolidation, break would extend recent upmove to 1.1935/40 but 1.1960/65 should hold, yield retreat.

On the downside, only below 1.1842 (New York low) would risk weakness back to 1.1800, break, 1.1781/88.

Data to be released on Wednesday:
Australia construction work done, Swiss investor sentiment.
U.S. mortgage applications, building permits, personal income, personal spending, core PCE index, durable goods, GDP, goods trade balance, wholesale inventories, initial jobless claims, continued jobless claims, University of Michigan consumer sentiment, new home sales and FOMC minutes.

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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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