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AceTraderFx May 31: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 31 May 2019 05:30 GMT
EUR/USD - 1.1138
Although euro's fall from this week's high at 1.1265 (Monday) to as low as 1.1116 in New York on Thursday suggests early correction from May's 2-year bottom at 1.1108 has ended, below 1.1100/08 sup area needed to extend recent downtrend to projected downside target at 1.1054 next week.
On the upside, a daily close above 1.1160 would 'prolong' choppy sideways swings above 1.1108 and yield another rise to 1.1200/10 but res at 1.1225 would cap upside.
The euro area countries will release a slew of eco. data, pls refer to our EI page for details.
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Update Time: 31 May 2019 05:30 GMT
EUR/USD - 1.1138
Although euro's fall from this week's high at 1.1265 (Monday) to as low as 1.1116 in New York on Thursday suggests early correction from May's 2-year bottom at 1.1108 has ended, below 1.1100/08 sup area needed to extend recent downtrend to projected downside target at 1.1054 next week.
On the upside, a daily close above 1.1160 would 'prolong' choppy sideways swings above 1.1108 and yield another rise to 1.1200/10 but res at 1.1225 would cap upside.
The euro area countries will release a slew of eco. data, pls refer to our EI page for details.
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