Daily recommendations on major – EUR/USD

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 23 May 2022 03:00GMT.

EUR/USD - 1.0579

Euro's retreat from 1.0598 to 1.0534 in New York on Fri suggests corrective upmove from May's fresh 5-year bottom at 1.0350 has made a temporary top at Thur's near 2-week peak at 1.0608 and minor consolidation is seen, a daily close below 1.0534 would yield weakness towards 1.0507, then 1.0461/66.

On the downside, only above 1.0598 would bring re-test of 1.0608 but loss of momentum should cap euro below 1.0641 and yield retreat later.

Data to be released later

Germany Ifo business climate, Ifo current conditions, Ifo expectations.
U.S. national activity index and Canada Market Holiday on Monday.

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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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