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AceTraderFx Apr 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 25 Apr 2022 03:00GMT
EUR/USD - 1.0805
Although euro's selloff from last week's high at 1.0936 (Thur) to as low as 1.0771 in New York morning Fri due to broad-based safe-haven buying in usd suggests correction from Apr's near 2-year bottom at 1.0758 has ended, intra-day higher open to 1.0840 on news of election win by French President Macron Sun would bring 'choppy' swings.
As long as 1.0867 holds, daily downside bias remains for another fall, below 1.0771 would encourage for weakness to 1.0758/62 and only above 1.0867 risks stronger gain to 1.0880/90.
Data to be released later:
New Zealand Market Holiday, Australia Market Holiday, Japan coincident index, leading index.
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.
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: 25 Apr 2022 03:00GMT
EUR/USD - 1.0805
Although euro's selloff from last week's high at 1.0936 (Thur) to as low as 1.0771 in New York morning Fri due to broad-based safe-haven buying in usd suggests correction from Apr's near 2-year bottom at 1.0758 has ended, intra-day higher open to 1.0840 on news of election win by French President Macron Sun would bring 'choppy' swings.
As long as 1.0867 holds, daily downside bias remains for another fall, below 1.0771 would encourage for weakness to 1.0758/62 and only above 1.0867 risks stronger gain to 1.0880/90.
Data to be released later:
New Zealand Market Holiday, Australia Market Holiday, Japan coincident index, leading index.
Germany Ifo business climate, Ifo current conditions, Ifo expectations, Italy Market Holiday, EU construction output, U.K. CBI trends orders.
U.S. national activity index and Dallas Fed manufacturing business index on Monday.
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