EUR/USD: Daily recommendations on major

AceTrader Team AceTrader

EUR/USD - 0.9821

Despite resumption of downtrend to a fresh 20-year trough of 0.9537 on Wednesday, subsequent rally to 0.9750 and then yesterday's break above there to 0.9815 (New York), then 0.9844 in Australia today suggests stronger retracement to 0.9878, 0.9908 would be seen, reckon 0.9945 should cap upside.

On the downside, a daily close below 0.9750 needed to signal top is made and yield weakness towards 0.9684.

Data to be released on Friday

New Zealand building permits, Japan unemployment rate, industrial output, retail sales, consumer confidence, construction orders, housing starts, China NBS manufacturing PMI, caixin manufacturing PMI.
Germany import prices, retail sales, unemployment change, unemployment rate, U.K. current account, GDP, nationwide house prices, Swiss retail sales, KOF indicator, France CPI, consumer spending, producer prices, Italy unemployment rate, CPI, EU HICP, unemployment rate.
U.S. personal spending, personal income, core PCE price index, Chicago PMI, University of Michigan sentiment and Canada budget balance.

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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