AceTraderFx Sept 08: Daily Recommendations on Major -EUR/US
DAILY MARKET OUTLOOK on Major
Update Time: 08 Sept 2020 03:30GMT
EUR/USD - 1.1806
Despite the single currency's brief break of last Thur's low at 1.1790 to 1.1765 in post-NFP trading on Friday, subsequent strong rebound to 1.1854 suggests the decline from last Tue's fresh 2-year peak at 1.2011 has possibly ended there and consolidation with upside bias remains, above 1.1865 would add credence to this view and extend to 1.1929/30 before prospect of retreat.
On the downside, only below 1.1782 would revive bearishness for a stronger retracement of MT upmove to 1.1755, then to 1.1700/10 before rebound occurs.
Data to be released on Tuesday :
UK BRC retail sales, Japan all household spending, current account, GDP delfator, GDP, trade balance, Economy Watchers current, Economy Watchers outlook, machine tool orders Australia NAB business conditions, NAB business confidence, France non-farm payrolls, current account, trade balance, imports, exports, Germany exports, imports, trade balance, current account, Italy retail sales, EU employment change, GDPm
Canada leading index.
Update Time: 08 Sept 2020 03:30GMT
EUR/USD - 1.1806
Despite the single currency's brief break of last Thur's low at 1.1790 to 1.1765 in post-NFP trading on Friday, subsequent strong rebound to 1.1854 suggests the decline from last Tue's fresh 2-year peak at 1.2011 has possibly ended there and consolidation with upside bias remains, above 1.1865 would add credence to this view and extend to 1.1929/30 before prospect of retreat.
On the downside, only below 1.1782 would revive bearishness for a stronger retracement of MT upmove to 1.1755, then to 1.1700/10 before rebound occurs.
Data to be released on Tuesday :
UK BRC retail sales, Japan all household spending, current account, GDP delfator, GDP, trade balance, Economy Watchers current, Economy Watchers outlook, machine tool orders Australia NAB business conditions, NAB business confidence, France non-farm payrolls, current account, trade balance, imports, exports, Germany exports, imports, trade balance, current account, Italy retail sales, EU employment change, GDPm
Canada leading index.