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AceTraderFx Aug 26: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 26 Aug 2021 03:00GMT
EUR/USD - 1.1769
Despite yesterday's resumption of upmove from Friday's 9-1/2 month trough of 1.1664 to 1.1774 (New York) after meeting renewed buying at 1.1726, near term loss of upward momentum should cap price below res at 1.1804 and yield strong retreat later today or tomorrow.
On the downside, below 1.1726 signals at least the 1st leg of correction from 1.1664 is over and heads back towards 1.1693.
On the data front, we have Germany's Gfk consumer sentiment, France's business climate n then Italy's industrial sales. ECB board member Schnabel will participate in Economist Roundtable on ECB's strategy review organized by the German Federal Ministry of Finance at 15:00GMT.
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Update Time: 26 Aug 2021 03:00GMT
EUR/USD - 1.1769
Despite yesterday's resumption of upmove from Friday's 9-1/2 month trough of 1.1664 to 1.1774 (New York) after meeting renewed buying at 1.1726, near term loss of upward momentum should cap price below res at 1.1804 and yield strong retreat later today or tomorrow.
On the downside, below 1.1726 signals at least the 1st leg of correction from 1.1664 is over and heads back towards 1.1693.
On the data front, we have Germany's Gfk consumer sentiment, France's business climate n then Italy's industrial sales. ECB board member Schnabel will participate in Economist Roundtable on ECB's strategy review organized by the German Federal Ministry of Finance at 15:00GMT.
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 update