EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1912
Despite euro's daily sideways swings following early retreat from last Thursday's 2-week high of 1.1927, as long as previous good sup at 1.1861/62 holds, corrective rise from Mar's 4-1/2 month trough at 1.1705 would extend marginal gain, 'loss of upward momentum' should cap price below 1.1990 and yield decline.

A daily close below said sup signals 1st least the 1st leg of correction over and heads back to 1.1786/96 later this week.

On the data front, Germany will kick off with wholesale price index, then ZEW economic sentiment, current conditions n survey expectation. Italy will release industrial output.

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