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AceTraderFx Jan 7: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 07 Jan 2016 02:49 GMT
EUR/USD - 1.0815
Despite yesterday's weakness to 1.0716, subsequent rebound to 1.0799 in post-FOMC minutes New York afternoon, then intra-day rally above this res level confirms euro's recent decline from December's 1.1060 peak has made a low on Tuesday at 1.0711 and consolidation with upside bias is seen, above res at 1.0839 would encourage for further headway towards 1.0886, reckon 1.0900/10 should hold.
On the downside, only below 1.0773/74 would dampen current bullish view on euro and may risk stronger retreat towards 1.0747 but 1.0711/16 should 'remain intact'.
Update Time: 07 Jan 2016 02:49 GMT
EUR/USD - 1.0815
Despite yesterday's weakness to 1.0716, subsequent rebound to 1.0799 in post-FOMC minutes New York afternoon, then intra-day rally above this res level confirms euro's recent decline from December's 1.1060 peak has made a low on Tuesday at 1.0711 and consolidation with upside bias is seen, above res at 1.0839 would encourage for further headway towards 1.0886, reckon 1.0900/10 should hold.
On the downside, only below 1.0773/74 would dampen current bullish view on euro and may risk stronger retreat towards 1.0747 but 1.0711/16 should 'remain intact'.