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AceTraderFx Feb 18: Daily Recommendations on Major - EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 18 Feb 2019 05:30 GMT
EUR/USD - 1.1303
Despite the single currency's fall to a fresh 2-1/2 month trough at 1.1234 on Friday, subsequent rally to 1.1308 the same day suggests recent erratic decline has made a temporary low there and choppy trading with upside bias would be seen for gain towards 1.1344, however, over bought condition would keep price well below 1.1380 and yield retreat later this week.
On the downside, only below 1.1234 would revive bearishness for weakness towards 2018 trough at 1.1216 (November), break would extend Medium Term decline towards 1.1180 before prospect of a correction.
Since there is no major eco. data due today, traders should keep an eye on Brexit related headlines and eur/gbp cross.
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 updates
Update Time: 18 Feb 2019 05:30 GMT
EUR/USD - 1.1303
Despite the single currency's fall to a fresh 2-1/2 month trough at 1.1234 on Friday, subsequent rally to 1.1308 the same day suggests recent erratic decline has made a temporary low there and choppy trading with upside bias would be seen for gain towards 1.1344, however, over bought condition would keep price well below 1.1380 and yield retreat later this week.
On the downside, only below 1.1234 would revive bearishness for weakness towards 2018 trough at 1.1216 (November), break would extend Medium Term decline towards 1.1180 before prospect of a correction.
Since there is no major eco. data due today, traders should keep an eye on Brexit related headlines and eur/gbp cross.
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 updates