EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.2090
Despite yesterday's anticipated resumption of decline from last Thursday's 6-week peak of 1.2242 to 1.1992 (Europe), subsequent rally due to broad-based usd's weakness on return of risk appetite suggests temporary low is made and 1-2 days of sideways consolidation is seen.

As long as 1.2139/41 holds, downside bias remains for another fall, below 1.2.16/21 would bring re-test of 1.1992 while break of said res may risk stronger gain to 1.2175/80.

Today is PMI day in the euro area countries, we have ECB board member Weidmann n other ECB offcials scheduled to speak in European and New York sessions, please refer to our Economic Indicator page for details.

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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.

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

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The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

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Bitcoin, Ethereum and Ripple consolidate after massive sell-off

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