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AceTraderFx Aug 19: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 19 Aug 2022 03:00GMT
EUR/USD - 1.0081
Euro's recent decline from August's 5-week high at 1.0368 to 1.0081 (New York) yesterday due to broad-based usd's rally following hawkish comments by Fed officials suggests correction from July's 20-year bottom at 0.9953 has ended and downside bias remains for further weakness, oversold condition would keep euro above 1.0007.
On the upside, only a daily close above 1.0123 (Tuesday low, now res) signals temporary low is made and may risk stronger retracement to 1.0178/88 on Monday.
Data to be released on Friday :
New Zealand imports, trade balance, exports, Japan nationwide CPI.
U.K. Gfk consumer confidence, Germany producer prices, U.K. PSNB GBP, PSNCR GBP, retail sales, Swiss industrial production, EU current account.
Canada retail sales.
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: 19 Aug 2022 03:00GMT
EUR/USD - 1.0081
Euro's recent decline from August's 5-week high at 1.0368 to 1.0081 (New York) yesterday due to broad-based usd's rally following hawkish comments by Fed officials suggests correction from July's 20-year bottom at 0.9953 has ended and downside bias remains for further weakness, oversold condition would keep euro above 1.0007.
On the upside, only a daily close above 1.0123 (Tuesday low, now res) signals temporary low is made and may risk stronger retracement to 1.0178/88 on Monday.
Data to be released on Friday :
New Zealand imports, trade balance, exports, Japan nationwide CPI.
U.K. Gfk consumer confidence, Germany producer prices, U.K. PSNB GBP, PSNCR GBP, retail sales, Swiss industrial production, EU current account.
Canada retail sales.
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