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AceTraderFx Aug 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 21 Aug 2015 01:51 GMT
EUR/USD - 1.1247
Euro's rise above last Wednesday's 1-month high at 1.1214 to 1.1245 yesterday, then intra-day breach of this level on dollar's broad-based weakness on fading expectations of Federal Reserve rate hike in September suggests consolidation with upside bias remains and further gain towards 1.1279/80 would be seen.
Having said that over bought condition would prevent sharp move beyond there and reckon resistance at 1.1319 would remain intact today and yield a much-needed correction.
On the downside, only below 1.1183 would be the first sign that a temporary top has been made and yield stronger retracement towards 1.1149/50.
DAILY MARKET OUTLOOK
Update Time: 21 Aug 2015 01:51 GMT
EUR/USD - 1.1247
Euro's rise above last Wednesday's 1-month high at 1.1214 to 1.1245 yesterday, then intra-day breach of this level on dollar's broad-based weakness on fading expectations of Federal Reserve rate hike in September suggests consolidation with upside bias remains and further gain towards 1.1279/80 would be seen.
Having said that over bought condition would prevent sharp move beyond there and reckon resistance at 1.1319 would remain intact today and yield a much-needed correction.
On the downside, only below 1.1183 would be the first sign that a temporary top has been made and yield stronger retracement towards 1.1149/50.
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