EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.2150
Fri's rally from 1.2072 to 1.2147 on renewed usd's weakness due to soft U.S. data and yields suggests pullback from last Tuesday's fresh 10-week peak at 1.2181 has possibly ended, above 1.2152 would bring re-test of said May's high, overbought condition should cap price below 1.2242 (Feb high).

On the downside, only below 1.2104/07 sup 'prolongs' choppy swings below 1.2181 and risks weakness to 1.2072 but reckon 1.2052 should hold.

Data to be released next week:

China house prices, industrial output, retail sales,
U.K. rightmove house price, Japan corporation goods price, machinery orders, Swiss producer/import price, Italy CPI.
Canada housing starts, U.S. New York Fed manufacturing, NAHB housing market index 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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