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AceTraderFx Oct 02: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 02 Oct 2019 03:30GMT
EUR/USD - 1.0939
Despite euro's resumption of medium term decline to a fresh 28-month trough of 1.0880 in Europe on Tuesday, subsequent rally to 1.0942 (New York) on usd's broad-based weakness suggests temporary low is in place and stronger retracement towards 1.0967 would be seen before prospect of another fall.
Below 1.0906/08 needed to bring re-test of 1.0880, break, 1.0840 later. Only above 1.1000/05 would risk gain towards 1.1025.
There is no eco. data due out from the euro area countries, however, one should keep an eye out for a speech by ECB Vice President de Guindos at a meeting organised by the ECB in FFT at 12:00GMT.
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Update Time: 02 Oct 2019 03:30GMT
EUR/USD - 1.0939
Despite euro's resumption of medium term decline to a fresh 28-month trough of 1.0880 in Europe on Tuesday, subsequent rally to 1.0942 (New York) on usd's broad-based weakness suggests temporary low is in place and stronger retracement towards 1.0967 would be seen before prospect of another fall.
Below 1.0906/08 needed to bring re-test of 1.0880, break, 1.0840 later. Only above 1.1000/05 would risk gain towards 1.1025.
There is no eco. data due out from the euro area countries, however, one should keep an eye out for a speech by ECB Vice President de Guindos at a meeting organised by the ECB in FFT at 12:00GMT.
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