AceTraderFx Oct 27: Daily Recommendations on Major EUR/USD
DAILY MARKET OUTLOOK
Update Time: 27 Oct 2016 05:07 GMT
EUR/USD - 1.0903
Despite euro's retreat from yesterday's 1.0946 (NY high), as early strong rebound from Tuesday's fresh 7-month trough at 1.0851 confirms recent downtrend has finally made a temporary low there, several days of choppy consolidation with upside bias remains and reckon 1.0873 sup would contain weakness, yield further subsequent headway towards 1.0986 but 1.1000/05 would cap upside today.
Only below 1.0873 would dampen near term bullish bias on euro and may risk re-test of 1.0851.
However, loss of downward momentum should limit weakness to 1.0821.
Update Time: 27 Oct 2016 05:07 GMT
EUR/USD - 1.0903
Despite euro's retreat from yesterday's 1.0946 (NY high), as early strong rebound from Tuesday's fresh 7-month trough at 1.0851 confirms recent downtrend has finally made a temporary low there, several days of choppy consolidation with upside bias remains and reckon 1.0873 sup would contain weakness, yield further subsequent headway towards 1.0986 but 1.1000/05 would cap upside today.
Only below 1.0873 would dampen near term bullish bias on euro and may risk re-test of 1.0851.
However, loss of downward momentum should limit weakness to 1.0821.