EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.2177

Despite euro's intra-day brief fall from 1.2194 to 1.2144 on ECB Lagarde's dovish comments, subsequent rebound due to usd's weakness on the back of selloff in U.S. yields suggests pullback from this week's 1.2218 high has ended, a daily close above there would encourage for further headway towards May's peak at 1.2266 next week.

On the downside, only below 1.2144 prolongs this week's daily wild swings and would risk marginal weakness, loss of downward momentum should keep price above 1.2105.

The only EU eco. data due out is German wholesale price index. G7 starts its 3-day meeting in England later today, pay attention to comments by G7 officials. We also have ECB member Fernandez-Bollo speaking at an event at 12:00GMT.

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AceTrader Team

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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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