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AceTraderFx May 11: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 11 May 2022 03:00GMT
EUR/USD - 1.0532
Although euro's retreat from last Thursday's 8-day high of 1.0641 suggests recovery from April's fresh 5-year bottom at 1.0472 has possibly ended, subsequent daily volatile swings and yesterday's retreat from 1.0585 in Europe signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.
On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.
Data to be released on Wednesday:
Australia Westpac consumer sentiment, China PPI, CPI, Japan coincident index, leading indicato,
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.
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: 11 May 2022 03:00GMT
EUR/USD - 1.0532
Although euro's retreat from last Thursday's 8-day high of 1.0641 suggests recovery from April's fresh 5-year bottom at 1.0472 has possibly ended, subsequent daily volatile swings and yesterday's retreat from 1.0585 in Europe signals consolidation with mild downside bias remains for weakness towards 1.0483 but 1.0472 should remain intact initially.
On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.
Data to be released on Wednesday:
Australia Westpac consumer sentiment, China PPI, CPI, Japan coincident index, leading indicato,
Germany CP.
U.S. MBA mortgage application, CPI and Federal budget.
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