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AceTraderFx Sept 09: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 09 Sept 2021 03:00GMT
EUR/USD - 1.1815
Yesterday's anticipated weakness to 1.1803 suggests euro's recent upmove from August's 9-1/2 month bottom at 1.1664 has formed a temporary top last Friday at 1.1908 and strong retracement of said move is envisaged, however, a daily close below 1.1757 (61.8% r) needed to signal correction is over and yield further weakness next week.
Only a firm break above 1.1856 (ECB's hawkish hold perhaps) signals pullback has ended, then risk would shift to the upside for re-test of 1.1908.
Data to be released on Thursday:
New Zealand manufacturing sales.
U.K. RICS housing price balance, China PPI, CPI, Germany exports, imports, trade balance, EU ECB refinancing rate, deposit rate.
U.S. initial jobless claims and continuing jobless claims.
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
Update Time: 09 Sept 2021 03:00GMT
EUR/USD - 1.1815
Yesterday's anticipated weakness to 1.1803 suggests euro's recent upmove from August's 9-1/2 month bottom at 1.1664 has formed a temporary top last Friday at 1.1908 and strong retracement of said move is envisaged, however, a daily close below 1.1757 (61.8% r) needed to signal correction is over and yield further weakness next week.
Only a firm break above 1.1856 (ECB's hawkish hold perhaps) signals pullback has ended, then risk would shift to the upside for re-test of 1.1908.
Data to be released on Thursday:
New Zealand manufacturing sales.
U.K. RICS housing price balance, China PPI, CPI, Germany exports, imports, trade balance, EU ECB refinancing rate, deposit rate.
U.S. initial jobless claims and continuing jobless claims.
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