EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1868

Euro's decline from 1.1909 Fri's 1-month high of to 1.1852 New York after upbeat U.S. data suggests recent upmove has made a temporary top and consolidation with downside bias remains for retracement of early rise from 1.1753, reckon 1.1773 sup would hold and yield rebound.

Only above 1.1909 risks one more rise but loss of upward momentum would cap price at 1.1940/44 and yield another decline.

Today is PMI day in the euro area countries, pls refer to our EI page for details n pay attention to Germany's n EU's Markit PMI, a weaker-than-expected number will weigh on the euro.

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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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