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AceTraderFx May 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 25 May 2022 03:00GMT
EUR/USD - 1.0728
Although euro's rally above 1.0697 (Mon) to a 1-month peak at 1.0748 in New York after hawkish comments from ECB's Lagarde suggests upmove from May's 5-year bottom at 1.0350 would extend marginally, reckon 1.0770/75 would remain intact and yield prospect of another fall due to loss of momentum.
On the downside, daily close below 1.0697 would indicate a temporary top is in place and yield weakness towards 1.0662, break, 1.0608/10 later.
Data to be released on Wednesday:
Australia construction work done, New Zealand RBNZ interest rate decision, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer confidence, France consumer confidence, Swiss investor sentiment, U.S. mortgage application, durable goods, durables ex-transport and durables ex-defense.
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 May 2022 03:00GMT
EUR/USD - 1.0728
Although euro's rally above 1.0697 (Mon) to a 1-month peak at 1.0748 in New York after hawkish comments from ECB's Lagarde suggests upmove from May's 5-year bottom at 1.0350 would extend marginally, reckon 1.0770/75 would remain intact and yield prospect of another fall due to loss of momentum.
On the downside, daily close below 1.0697 would indicate a temporary top is in place and yield weakness towards 1.0662, break, 1.0608/10 later.
Data to be released on Wednesday:
Australia construction work done, New Zealand RBNZ interest rate decision, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer confidence, France consumer confidence, Swiss investor sentiment, U.S. mortgage application, durable goods, durables ex-transport and durables ex-defense.
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