AceTraderFx Jun 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 10 June 2020 03:30GMT
EUR/USD - 1.1339
Yesterday's rally from 1.1242 (Europe) to as high as 1.1364 in New York due to renewed usd's broad-based weakness suggests early pullback from last Friday's fresh 2-1/2 month peak at 1.1383 has ended and recent upmove would resume after consolidation, however, loss of upward momentum should cap price well below 2020 peak (March) at 1.1494.
On the downside, only failure to penetrate 1.1383 and a daily close below 1.1300 'prolongs' choppy swings, risks weakness towards 1.1242.
The only eco. data due out today is France's industrial out, however, we have a number of ECB members scheduled to speak during European session, please refer to EI page for details.
Update Time: 10 June 2020 03:30GMT
EUR/USD - 1.1339
Yesterday's rally from 1.1242 (Europe) to as high as 1.1364 in New York due to renewed usd's broad-based weakness suggests early pullback from last Friday's fresh 2-1/2 month peak at 1.1383 has ended and recent upmove would resume after consolidation, however, loss of upward momentum should cap price well below 2020 peak (March) at 1.1494.
On the downside, only failure to penetrate 1.1383 and a daily close below 1.1300 'prolongs' choppy swings, risks weakness towards 1.1242.
The only eco. data due out today is France's industrial out, however, we have a number of ECB members scheduled to speak during European session, please refer to EI page for details.