Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 14 Aug 2018 6:30 GMT

EUR/USD - 1.1408
Although euro's rebound from Mon's near 13-month trough at 1.1365 (Asia) to 1.1433 on short covering following recovery in the Turkish lira in New York suggests range trading is in store, as long as 1.1470/80 holds.
Outlook remains mildly bearish for marginal weakness, loss of near term downward momentum should keep price above minor daily sup at 1.1313.

Only a daily close above 1.1509 (June's low, now res) confirms temporary low has been formed and risks stronger retracement towards 1.1548 later this week.

The euro area countries will release a slew of eco. data starting France's unemployment, Germany's flash GDP n final CPI, France's final CPI n Germany's ZEW eco. sentiment n current conditions.

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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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