AceTraderFx Nov 16: Daily Recommendations on Major -EUR/USD DAILY MARKET OUTLOOK on Major Update Time: 16 Nov 2017 05:20 GMT EUR/USD - 1.1783 Despite yesterday's resumption of recent upmove to a 3-week peak of 1.1861 in New York morning, subsequent retreat to 1.1789 due to broad-based usd's short covering in New York afternoon and then intra-day weakness to 1.1769 in Australia today suggests temporary top has been made and 1-2 days of broad consolidation is seen before recent rise from November's 3-month bottom at 1.3554 resumes. As long as 1.1726 holds, upside bias remains for another bounce to 1.1830/40 but 1.1861 would cap upside and only a daily close below 1.1691 risks stronger retracement to 1.1691 before prospect of rebound. Euro area countries will release a slew of eco. data starting with Italy's trade balance n then EU CPI data. Pay attention to speeches by ECB's Jazbec at 08:00GMT, ECB's Mersch at 08:45GMT, ECB's Praet at 11:00GMT, ECB's Villeroy at 14:30GMT and ECB's VP Constancio at 20:00GMT.