AceTraderFx Nov 18: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 18 Nov 2021 03:00GMT
EUR/USD - 1.1321
Euro's rebound from a fresh 16-month bottom at 1.1265 Wednesday suggests medium-term downtrend from 2021 peak at 1.2349 (January) has made a temporary low and initial consolidation is seen before another fall, while loss of dowanward momentum would keep price above 1.1215/20 and bring correction.
On the upside, only a daily close above 1.1332 risks stronger retracement to 1.1357, break, 1.1385 later.
Data to be released on Thursday:
New Zealand inflation forecast.
Swiss trade balance, exports, imports, industrial production.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, leading index change and KC Fed manufacturing index.
DAILY MARKET OUTLOOK on Major
Update Time: 18 Nov 2021 03:00GMT
EUR/USD - 1.1321
Euro's rebound from a fresh 16-month bottom at 1.1265 Wednesday suggests medium-term downtrend from 2021 peak at 1.2349 (January) has made a temporary low and initial consolidation is seen before another fall, while loss of dowanward momentum would keep price above 1.1215/20 and bring correction.
On the upside, only a daily close above 1.1332 risks stronger retracement to 1.1357, break, 1.1385 later.
Data to be released on Thursday:
New Zealand inflation forecast.
Swiss trade balance, exports, imports, industrial production.
U.S. initial jobless claims, continuing jobless claims, Philly Fed manufacturing index, leading index change and KC Fed manufacturing index.