AceTraderFx Jan 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 23 Jan 2019 06:30 GMT
EUR/USD - 1.1362
Despite euro's resumption of recent decline from Jan's 11-week peak of 1.1570 to 1.1336 in New York morning, subsequent rebound suggests temporary low is possibly made and consolidation with upside bias is in store, a firm break above 1.1391 would add credence to this view and bring stronger gain to 1.1427, however, reckon res at 1.1455 should hold.
Only below 1.1336 risks marginal weakness, however, loss of downward momentum should keep price above Jan's bottom at 1.1310 and yield an overdue correction of aforesaid fall.
Expect more range trading ahead of Thursday's key ECB monetary policy announcement n ECB Draghi's press conference, eurozone eco. calendar is pretty light today with France's business climate and Italy's PPI being the only data due out.
Update Time: 23 Jan 2019 06:30 GMT
EUR/USD - 1.1362
Despite euro's resumption of recent decline from Jan's 11-week peak of 1.1570 to 1.1336 in New York morning, subsequent rebound suggests temporary low is possibly made and consolidation with upside bias is in store, a firm break above 1.1391 would add credence to this view and bring stronger gain to 1.1427, however, reckon res at 1.1455 should hold.
Only below 1.1336 risks marginal weakness, however, loss of downward momentum should keep price above Jan's bottom at 1.1310 and yield an overdue correction of aforesaid fall.
Expect more range trading ahead of Thursday's key ECB monetary policy announcement n ECB Draghi's press conference, eurozone eco. calendar is pretty light today with France's business climate and Italy's PPI being the only data due out.