AceTraderFx Sept 2: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major EUR/USD
Update Time: 02 Sep 2016 04:03 GMT
EUR/USD - 1.1199
Despite the single currency's selloff to 1.1132 on Tuesday on dollar's broad-based weakness, then lower to 1.1123 Wednesday, subsequent strong rebound yesterday suggests decline from August's 8-week peak at 1.111366 has made a temporary low there and choppy trading with upside bias would be seen for gain towards 1.1245 before prospect of retreat.
On the downside, only below 1.1166 (previous resistance) would indicate aforesaid recovery has ended and turn outlook bearish for a re-test of said support.
Update Time: 02 Sep 2016 04:03 GMT
EUR/USD - 1.1199
Despite the single currency's selloff to 1.1132 on Tuesday on dollar's broad-based weakness, then lower to 1.1123 Wednesday, subsequent strong rebound yesterday suggests decline from August's 8-week peak at 1.111366 has made a temporary low there and choppy trading with upside bias would be seen for gain towards 1.1245 before prospect of retreat.
On the downside, only below 1.1166 (previous resistance) would indicate aforesaid recovery has ended and turn outlook bearish for a re-test of said support.