EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1878

Yesterday's retreat from 1.1896 suggests further sideways swings below Friday's 1-month peak at 1.1909 would continue with downside bias, below 1.1852 (reaction low Friday) confirms recent upmove from 1.1753 (July low) has made a temporary top and brings stronger retracement, reckon 1.1800/05 would remain intact.

Only above 1.1909 risks marginal gain, however, loss of upward momentum would cap price at 1.1940/44 and yield decline later.

Eco. calendar is pretty light with EU's PPI being the only data due out at 09:00GMT.

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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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