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AceTraderFx Nov 09: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 09 Nov 2021 03:00GMT
EUR/USD - 1.1585
Although euro's intra-day rise on Monday from 1.1551 (Europe) and then break of Friday's 1.1573 high to 1.1594 (New York) confirms recent downtrend has made a temporary low at Friday's 15-month bottom at 1.1514 and mild upside bias remains for stronger retracement, overbought condition would prevent strong gain above res area at 1.1616/25 and yield decline later today or Wednesday.
On the downside, below 1.1551 anytime signals recovery is over and yield re-test of 1.1514.
Data to be released on Tuesday:
New Zealand retail sales, Japan current account, trade balance.
U.K. BRC retail sales, Australia NAB business conditions, NAB business confidence, Japan Eco watchers outlook, Eco watchers current, Germany exports, imports, trade balance, current account, France current account, trade balance, imports, exports, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations.
U.S. PPI and redbook.
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 Nov 2021 03:00GMT
EUR/USD - 1.1585
Although euro's intra-day rise on Monday from 1.1551 (Europe) and then break of Friday's 1.1573 high to 1.1594 (New York) confirms recent downtrend has made a temporary low at Friday's 15-month bottom at 1.1514 and mild upside bias remains for stronger retracement, overbought condition would prevent strong gain above res area at 1.1616/25 and yield decline later today or Wednesday.
On the downside, below 1.1551 anytime signals recovery is over and yield re-test of 1.1514.
Data to be released on Tuesday:
New Zealand retail sales, Japan current account, trade balance.
U.K. BRC retail sales, Australia NAB business conditions, NAB business confidence, Japan Eco watchers outlook, Eco watchers current, Germany exports, imports, trade balance, current account, France current account, trade balance, imports, exports, Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations.
U.S. PPI and redbook.
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