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AceTraderFx Jul 24: Intra-Day News and Views & data to be released today -EUR/USD
Intra-Day Market Moving News and Views
Update Time: 24July 2019 03:00GMT
EUR/USD - 1.1146.. The single currency remains on the back foot in Asian trading after yesterday's selloff to a 2-month trough of 1.1146 near New York close, then marginally lower to 1.1144 in Asia today.
Tuesday's fall which started at 1.1209 ahead of Asian open n continued in European n New York sessions finally awakened euro from its recent summer lull as the breach of previous July's 1.1194 low signals downside break of the recent 2-week long sideways swings have taken place and price is en route to re-test 2019 22-month bottom at 1.1108 (May) where a breach of this key sup would pressure price towards projected downside target at 1.1054, perhaps dovish comments by ECB's Draghi at Thur's post-ECB press conference would be the catalyst for such a move. Therefore, trading euro from the short side is the way to go.
Offers have been lowered to 1.1160/65 and more above with stops above 1.1205.
While some bids are touted at 1.1140-30 with large stops reported below 1.1100.
Today is PMI day in the euro area countries, France will kick off with business climate, then Markit mfg and servicies PMIs followed by the same in Germany and then the EU. If the readings are weaker than street forecasts, then one can expect another bout of euro bashing, if actual readings are better than forecasts, then traders will sell the euro at better levels, period
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
Intra-Day Market Moving News and Views
Update Time: 24July 2019 03:00GMT
EUR/USD - 1.1146.. The single currency remains on the back foot in Asian trading after yesterday's selloff to a 2-month trough of 1.1146 near New York close, then marginally lower to 1.1144 in Asia today.
Tuesday's fall which started at 1.1209 ahead of Asian open n continued in European n New York sessions finally awakened euro from its recent summer lull as the breach of previous July's 1.1194 low signals downside break of the recent 2-week long sideways swings have taken place and price is en route to re-test 2019 22-month bottom at 1.1108 (May) where a breach of this key sup would pressure price towards projected downside target at 1.1054, perhaps dovish comments by ECB's Draghi at Thur's post-ECB press conference would be the catalyst for such a move. Therefore, trading euro from the short side is the way to go.
Offers have been lowered to 1.1160/65 and more above with stops above 1.1205.
While some bids are touted at 1.1140-30 with large stops reported below 1.1100.
Today is PMI day in the euro area countries, France will kick off with business climate, then Markit mfg and servicies PMIs followed by the same in Germany and then the EU. If the readings are weaker than street forecasts, then one can expect another bout of euro bashing, if actual readings are better than forecasts, then traders will sell the euro at better levels, period
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