EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1645

Despite euro's daily sideways swings following early retreat from last Tuesday's near 3-week high of 1.1669 to 1.1617 (Wednesday), as long as this sup holds, corrective rise from October's 14-month trough at 1.1525 would head towards 1.1703 before decline due to loss of upward momentum.

A daily close below 1.1617 suggests correction is over and head back towards 1.1572.

On the data front, pay attention to key German Ifo business climate, current conditions n expectations at 08:00GMT, then later Buba monthly report. We also have ECB member de Cos speaking at 08:00GMT.

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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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