EUR/USD: Daily Recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1688

Despite euro's short-covering jump to 1.1742 in New York Wednesday after release of less hawkish Fed minutes, intra-day break of Wednesday's 10-month trough at 1.1695 confirms medium-term downtrend has once again resumed, however, reckon daily sup at 1.1603 would remain intact this week and bring minor correction next week.

On the upside, only above 1.1742 signals temporary bottom is in place and may risk stronger retracement towards 1.1784.

Data to be released on Thursday:
Australia employment change, unemployment rate.
Swiss trade balance, exports, imports, industrial production, EU current account.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, leading index change and Canada ADP employment change.

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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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