EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1870
Despite resumption of recent upmove from March's 4-1/2 month trough at 1.1705 to a 2-week high of 1.1914 (New York) yesterday, loss of upward momentum should cap euro's upside below res at 1.1947 and yield decline later today.

A daily close below 1.1850 would be the 1st signal said corrective rise has made a top, then risk would shift to downside for weakness to 1.1776/86 tomorrow or early next week.

Data to be released on Thursday:
Japan current account, trade balance, consumer confidence.
Germany industrial orders, France imports, exports, current account, trade balance, UK RICS housing price, construction PMI, EU producer prices.
U.S. initial jobless claims, continuing jobless claims.

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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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