AceTraderFx Sept 22: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 22 Sept 2020 03:30GMT
EUR/USD - 1.1768
Although the single currency has recovered after yesterday's selloff from 1.1871 to a 1-month bottom at 1.1731 on usd's broad-based strength and minor consolidation would be seen, as said move signals early decline from September's 2-year peak at 1.2011 has resumed, downside bias remains and below 1.1731 would extend to 1.1697 before prospect of a much-needed correction later this week due to loss of momentum.
On the upside, only above 1.1827 would indicate a temporary low has been made and risk stronger retracement to 1.1870/71 before down.
Data to be released on Tuesday :
UK CBI trends orders and EU consumer confidence.
U.S. redbook, existing home sales, Richmond Fed manufacturing index.
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
Update Time: 22 Sept 2020 03:30GMT
EUR/USD - 1.1768
Although the single currency has recovered after yesterday's selloff from 1.1871 to a 1-month bottom at 1.1731 on usd's broad-based strength and minor consolidation would be seen, as said move signals early decline from September's 2-year peak at 1.2011 has resumed, downside bias remains and below 1.1731 would extend to 1.1697 before prospect of a much-needed correction later this week due to loss of momentum.
On the upside, only above 1.1827 would indicate a temporary low has been made and risk stronger retracement to 1.1870/71 before down.
Data to be released on Tuesday :
UK CBI trends orders and EU consumer confidence.
U.S. redbook, existing home sales, Richmond Fed manufacturing index.
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates