EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.1235
Euro's selloff in post-FOMC New York from 1.1300 to a fresh 1-month bottom at 1.1236 due to broad-based usd's strength on Fed Powell's hawkish comments suggests further weakness would be seen, however, below 2021 bottom at 1.1187 (Nov) needed to retain bearishness for further decline towards projected downside target at 1.1222 later.

On the upside, only a daily close above 1.1310 (Wed high) signals temporary low is in place and risks stronger retracement to 1.1334/36 before down.

Data to be released on Thursday:
New Zealand CPI, Australia Westpac leading index, export prices, imports prices.
Germany Gfk consumer sentiment, Swiss exports, imports, trade balance, Italy industrial sales.
U.S. durable goods, durables ex-transport, durables ex-defense, GDP, PCE prices, initial jobless claims, continuing jobless claims, pending home sales, KC Fed manufacturing and Canada average weekly earnings.

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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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