EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.2060
Euro's decline from 1.2112 to 1.2043 yesterday suggests correction from Tuesday's 1.1992 low has possibly ended and initial range trading is in store before weakness towards 1.1992 but break there needed to extend early fall from last Thursday's 6-week peak at 1.2242 towards Feb's bottom at 1.1953 'later'.

On the upside, only above 1.2112 dampens present bearish scenario and may risk stronger gain to 1.2139/41.

Data to be released on Thursday :
Australia retail sales, trade balance, imports, exports, Japan consumer confidence.
UK Markit construction PMI, EU retail sales, unemployment rate.
Canada labor productivity and U.S. initial jobless claims, continued jobless claims, labor costs, productivity, durables ex-defense, durable goods, factory orders, durables ex-transport.

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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: US Dollar to remain pressured until uncertainty fog dissipates

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GBP/USD reclaims 1.3600 and above

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Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

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