EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1456
Euro's rally above 1.1452 (Wed) to a fresh 7-week peak at 1.1481 in New York Thursday on continued usd's weakness suggests recent upmove from Nov's 16-month trough at 1.1187 would extend towards 1.1525 but near term 'loss of momentum' should cap price at 1.1542/47 and yield decline later.

On the downside, only below 1.1415/20 may signal a temporary top is in place and risk stronger retracement towards 1.1386.

On the data front, the euro area will release a slew of data. We also have ECB President Lagarde and ECB board member de Cos will also speak during NY morning.

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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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