EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1217

Although euro's rebound from Wed's 16-month trough at 1.1187 to 1.1230 yesterday's suggests recent downtrend has made a temporary low, as long as 1.1200/05 holds, stronger retracement towards 1.1155 can't be ruled out, reckon res at 1.1274 should cap upside and yield another fall.

Below 1.1200 would bring re-test of 1.1187, while loss of downward momentum would keep price above 1.1139 and bring correction on Monday.

The euro area countries will be releasing a slew of eco. data n we also have many ECB officials scheduled to speak in European session, please refer to our EI page for full details. ECB President Lagarde will speak at a legal conference at 08:00GMT.

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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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