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AceTraderFx Oct 19: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 19 Oct 2022 03:00GMT
EUR/USD - 0.9855
Although euro's decline from 0.9999 (Oct high) to as low as 0.9632 (Thur) last week signals correction from Sep's 2-decade trough at 0.9537 has ended, subsequent bounce to 0.9808 (Fri), then Tue's gain to 0.9875 (New York) would yield further 'choppy' swings before another fall and below 0.9808 would yield further weakness towards 0.9770.
On the upside, a daily close above 0.9926 would bring stronger retracement to 0.9980/90.
Data to be released on Wednesday:
Australia Westpac leading index, China house prices.
U.K. CPI, RPI, PPI input prices, PPI output prices, EU construction output, HICP, U.S. MBA mortgage application, building permits, housing starts, Canada CPI and producer prices.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update
Update Time: 19 Oct 2022 03:00GMT
EUR/USD - 0.9855
Although euro's decline from 0.9999 (Oct high) to as low as 0.9632 (Thur) last week signals correction from Sep's 2-decade trough at 0.9537 has ended, subsequent bounce to 0.9808 (Fri), then Tue's gain to 0.9875 (New York) would yield further 'choppy' swings before another fall and below 0.9808 would yield further weakness towards 0.9770.
On the upside, a daily close above 0.9926 would bring stronger retracement to 0.9980/90.
Data to be released on Wednesday:
Australia Westpac leading index, China house prices.
U.K. CPI, RPI, PPI input prices, PPI output prices, EU construction output, HICP, U.S. MBA mortgage application, building permits, housing starts, Canada CPI and producer prices.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update