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AceTraderFx Nov 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 07 Nov 2019 03:30GMT
EUR/USD - 1.1068
The single currency's selloff from Tuesday's high at 1.1140 and subsequent break of previous support at 1.1074 to 1.1064 the same day suggests decline from October's 2-month peak at 1.1179 has once again resumed and consolidation with downside bias remains for weakness to 1.1020/23, however, oversold condition would keep price above 1.0990/00 and yield correction later.
On the upside, only above 1.1175/79 would revive bullishness for stronger gain to 1.1
Pay attention to the release of German industrial production mm and yy at 07:00GMT. Street forecasts are -0.4% and 2.9% vs previous readings of 0.3% and -3.7% respectively.
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Update Time: 07 Nov 2019 03:30GMT
EUR/USD - 1.1068
The single currency's selloff from Tuesday's high at 1.1140 and subsequent break of previous support at 1.1074 to 1.1064 the same day suggests decline from October's 2-month peak at 1.1179 has once again resumed and consolidation with downside bias remains for weakness to 1.1020/23, however, oversold condition would keep price above 1.0990/00 and yield correction later.
On the upside, only above 1.1175/79 would revive bullishness for stronger gain to 1.1
Pay attention to the release of German industrial production mm and yy at 07:00GMT. Street forecasts are -0.4% and 2.9% vs previous readings of 0.3% and -3.7% respectively.
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 updates