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AceTraderFx Sept 03: Intra-Day News and Views & data to be released today- EUR/USD
Intra-Day Market Moving News and Views
Update Time: 03 Sept 2020 05:30GMT
EUR/USD - 1.1828... The single currency met renewed selling at 1.1929 in Asia yesterday and retreated to 1.1893. Intra-day decline accelerated in European morning due partly to cross-selling in euro especially vs sterling and dropped to an intra-day low at 1.1823 in New York morning on usd's weakness before staging a rebound to 1.1857 near New York close on short-covering. The pair then retreated again to 1.1825 in Asia today and continues to remain under pressure.
Euro's fall to 1.1823 yesterday suggests MT uptrend has made a temporary top at Tuesday's fresh 2-year peak at 1.2011 and consolidation with downside bias remains for weakness to 1.1780/90.
Offers are now seen at 1.1850/60 with stops building up above there whilst initial bids are noted at 1.1760/70.
There is a slew of services PMIs to be released from the euro area today but one should pay attention to the release of EU retail sales at 09:00GMT.
Street forecasts for mm and yy are 1.5% and 3.5% vs previous readings of 5.7% and 1.3% respectively.
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: 03 Sept 2020 05:30GMT
EUR/USD - 1.1828... The single currency met renewed selling at 1.1929 in Asia yesterday and retreated to 1.1893. Intra-day decline accelerated in European morning due partly to cross-selling in euro especially vs sterling and dropped to an intra-day low at 1.1823 in New York morning on usd's weakness before staging a rebound to 1.1857 near New York close on short-covering. The pair then retreated again to 1.1825 in Asia today and continues to remain under pressure.
Euro's fall to 1.1823 yesterday suggests MT uptrend has made a temporary top at Tuesday's fresh 2-year peak at 1.2011 and consolidation with downside bias remains for weakness to 1.1780/90.
Offers are now seen at 1.1850/60 with stops building up above there whilst initial bids are noted at 1.1760/70.
There is a slew of services PMIs to be released from the euro area today but one should pay attention to the release of EU retail sales at 09:00GMT.
Street forecasts for mm and yy are 1.5% and 3.5% vs previous readings of 5.7% and 1.3% respectively.
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