EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1323
Despite euro's brief break below last Fr's 1.1302 low to a near 2-week bottom at 1.1291 in New York yesterday, subsequent rebound on broad-based retreat in usd due to strong recovery in U.S. stocks suggests a temporary bottom is made there and retracement towards 1.1359 may be seen before recent decline from Jan's 7-week 1.1482 peak heads towards 1.1273 later.

On the upside, only a daily close abv 1.1359 may risk stronger gain twd 1.1386.

Data to be released on Tuesday:
New Zealand business NZ PSI, Australia NAB business conditions, NAB business confidence, CPI.
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. PSNB, PSNCR, CBI trends orders.
U.S. redbook, monthly home price, consumer confidence and Richmond Fed manufacturing.

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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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