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AceTraderFx Oct 29: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 29 Oct 2015 02:00 GMT
EUR/USD - 1.0915
The single currency's selloff last week on dovish comments from ECB President Mario Draghi to 1.0997 on Friday, then yesterday's sharp fall to 1.0896 on a hawkish FOMC statement signals the erratic decline from August's high at 1.1715 has once again resumed and consolidation with downside bias would be seen for further weakness towards 1.0847/50.
However, over sold condition would keep price above support at 1.0808/10 and yield a much-needed recovery later this week.
On the upside, only above 1.1025/30 would be the 1st signal that a temporary low has been made and yield stronger retracement towards 1.1080/90.
![flag_eur.gif](/community/proxy.php?image=http%3A%2F%2Fwww.trendsetterfx.com%2Fimage%2Fcommon%2Fflag%2Fflag_eur.gif&hash=4112c9e1bc2c6553072e4b57c81e0797)
Update Time: 29 Oct 2015 02:00 GMT
EUR/USD - 1.0915
The single currency's selloff last week on dovish comments from ECB President Mario Draghi to 1.0997 on Friday, then yesterday's sharp fall to 1.0896 on a hawkish FOMC statement signals the erratic decline from August's high at 1.1715 has once again resumed and consolidation with downside bias would be seen for further weakness towards 1.0847/50.
However, over sold condition would keep price above support at 1.0808/10 and yield a much-needed recovery later this week.
On the upside, only above 1.1025/30 would be the 1st signal that a temporary low has been made and yield stronger retracement towards 1.1080/90.