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AceTraderFx Apr 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 21 Apr 2016 04:08GMT
EUR/USD - 1.1298
Yesterday's intra-day selloff after a brief rise above Tuesday's 1.1385 high to 1.1388 at New York open suggests correction from last Thursday's 2-week trough at 1.1234 has ended there and consolidation with downside bias would be seen.
However, break of said support needed to confirm erratic decline from last Tuesday's 5-1/2 month peak at 1.1465 has resumed and extend weakness towards 1.1114.
On the upside, a move back above 1.1388 would encourage a subsequent re-test of 1.1465 and break would extend MT uptrend towards 1.1512 'later'.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time
Update Time: 21 Apr 2016 04:08GMT
EUR/USD - 1.1298
Yesterday's intra-day selloff after a brief rise above Tuesday's 1.1385 high to 1.1388 at New York open suggests correction from last Thursday's 2-week trough at 1.1234 has ended there and consolidation with downside bias would be seen.
However, break of said support needed to confirm erratic decline from last Tuesday's 5-1/2 month peak at 1.1465 has resumed and extend weakness towards 1.1114.
On the upside, a move back above 1.1388 would encourage a subsequent re-test of 1.1465 and break would extend MT uptrend towards 1.1512 'later'.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time