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AceTraderFx May 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 07 May 2020 03:30GMT
EUR/USD - 1.0795
Euro's anticipated resumption of decline from last week's high at 1.1018 (Friday) to as low as 1.0783 yesterday's signals early upmove from April's 1-month trough at 1.0728 has ended there and downside bias remains for further weakness after consolidation, 'loss of downward momentum' should keep price above 1.0728 and yield rebound.
On the upside, only a daily close above 1.0886 signals low is finally made and may head back towards 1.0925 later.
On the data front, the euro area countries will release a slew of data, please refer to our Economic Indicators page for details.
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 updates
Update Time: 07 May 2020 03:30GMT
EUR/USD - 1.0795
Euro's anticipated resumption of decline from last week's high at 1.1018 (Friday) to as low as 1.0783 yesterday's signals early upmove from April's 1-month trough at 1.0728 has ended there and downside bias remains for further weakness after consolidation, 'loss of downward momentum' should keep price above 1.0728 and yield rebound.
On the upside, only a daily close above 1.0886 signals low is finally made and may head back towards 1.0925 later.
On the data front, the euro area countries will release a slew of data, please refer to our Economic Indicators page for details.
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 updates