EUR/USD: Daily recommendations on major
|EUR/USD - 1.1776
Although euro's rebound from last Wed's 4-month trough at 1.1707 to 1.0804 (Friday) suggests recent decline has made a temporary low, Monday's sideways swings would bring further consolidation before one more rise, loss of upward momentum should cap price at 1.1857.
A daily close below 1.1753 signals correction is over and risks weakness to 1.1724, break, 1.1707 again.
The euro zone will release a slew of eco. data at 09:00GMT including Q2 GDP, please refer to our EI page for details.
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