EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.2030
Euro's selloff below previous 1.2057 sup on Friday to a near 1-week low at 1.2017 due to broad-based short covering in usd suggests recent upmove has made a temporary top at Thursday's 8-week peak of 1.2149 and below 1.1994 would bring stronger correction towards 1.1948 'later' this week.

Only a daily close above 1.2057 yields stronger recovery but 1.2103 (Thursday's low, now res) should cap upside and yield another fall ahead of Friday's key U.S. jobs data.

Data to be released today :
Australia AIG manufacturing index, manufacturing PMI.
Germany retail sales, Swiss manufacturing PMI, Italy markit manufacturing PMI, France markit manufacturing PMI, Germany markit manufacturing PMI, EU markit manufacturing PMI.
Canada markit manufacturing PMI, U.S. markit manufacturing PMI, construction spending, ISM manufacturing PMI on Monday.

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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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