EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 1.0578

Although euro's rally above 1.0563 (Wednesday) to 1.0608 in New York yesterday on broad-based weakness in usd due to fall in U.S. yields suggests recent corrective upmove from last Friday's 5-year bottom at 1.0350 would extend marginally and gain towards 1.0625 may be seen, reckon 1.0641 would remain intact and yield retreat due to loss of momentum.

On the downside, a daily close below 1.0541 would signal top is possibly made and further weakness to 1.0507/10 is seen Mon.

Data to be released on Friday

New Zealand imports, trade balance, exports, Japan nationwide CPI.
U.K. Gfk consumer confidence, PSNB, retail sales, Germany producer prices and Swiss industrial production.

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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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