Daily recommendations on major – EUR/USD

AceTrader Team AceTrader

Daily market outlook on major

Update Time: 07 July 2022 03:00GMT.

EUR/USD - 1.0178

Euro's selloff to 1.0236 Tue and yesterday's break there to a fresh near-20 year bottom at 1.0163 in New York Wed on continued rally in usd suggests recent decline would extend to 1.0120/30 before prospect of a minor retracement due to near term loss of momentum.

On the upside, only a daily close above 1.0236 would indicate a temporary bottom is made and risk stronger retracement towards 1.0276 before down.

Data to be released on Thursday

Australia AIG services index, trade balance, imports, exports, Japan coincident index, leading indicators, machine tools orders.
Swiss unemployment rate, U.K. Halifax house price, Germany industrial output.
U.S. ADP employment rate, international trade balance, goods trade balance, initial jobless claims, continuing jobless claims, Canada trade balance, exports, imports and Ivey PMI.

Author

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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