EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1576

Euro's retreat from 1.1613 to 1.1576 (New York) yesterday suggests early corrective rise from 1.1535 (Friday) has possibly ended, below 1.1564 would add credence to this view and bring re-test of said support, then 2021 bottom at 1.1525.

Only a daily close above 1.1625 prolongs choppy trading and may risk stronger gain towards 1.1669 (Fed's dovish hold perhaps).

Data to be released on Wednesday :
Australia AIG construction index, services PMI, building permits, New Zealand employment change, unemployment rate, labour cost index, China Caixin services PMI, Japan Market holiday.
U.K. nationwide house price, France budget balance, Italy unemployment rate, U.K. Markit services PMI, EU unemployment rate.
U.S. MBA mortgage application, ADP employment change, international trade balance, goods trade balance, Markit services PMI, durables ex-defense, durable goods, factory orders, durables ex-transport, ISM non-manufacturing PMI, Fed interest rate decision.

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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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