EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1930

Although yesterday's sideways swings below Wednesday's 1.1969 high suggests consolidation may continue ahead of release of Fed's preferred inflation gauge, namely the core personal consumption expenditures price index later today, downside bias remains and below 1.1882 would signal correction from last Friday's 2-1/2 month trough at 1.1848 has ended and yield re-test of this level next week.

Only a daily close above 1.1969 may risk stronger retracement of recent decline towards 1.2006.

Data to be released on Friday:
New Zealand import, trade balance, exports.
U.K. Gfk consumer confidence, Japan Tokyo CPI, Germany Gfk consumer sentiment, Italy consumer confidence, trade balance.
U.S. CBI distributive trades, personal income, personal spending, PCE prices and University of Michigan sentiment.

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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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