AceTraderFx Jun 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2021 03:00GMT
EUR/USD - 1.2185
Euro's rally from 1.2105 to 1.2185 on Friday, then yesterday's gain to 1.2201 (New York) strongly suggests early correction from May's 4-1/2 month peak at 1.2266 has ended, intra-day retreat would bring consolidation before prospect of further gain, however, loss of upward momentum would cap price below last week's high at 1.2254.
On the downside, only a daily close below Mon's 1.2145 low aborts bullish view and may risk weakness towards 1.2105.
Data to be released on Tuesday :
Japan current account, trade balance, GDP deflator, GDP, Economy Watchers outlook, Economy Watchers current, Australia NAB business conditions, NAB business confidence.
UK BRC retail sales, Germany industrial output, ZEW economic sentiment, ZEW current conditions, France current account, trade balance, imports, exports, Italy retail sales, EU employment change, GDP, ZEW survey expectations.
Canada leading index, trade balance, exports, imports, and U.S. trade balance, redbook, JOLTS job openings.
DAILY MARKET OUTLOOK on Major
Update Time: 08 Jun 2021 03:00GMT
EUR/USD - 1.2185
Euro's rally from 1.2105 to 1.2185 on Friday, then yesterday's gain to 1.2201 (New York) strongly suggests early correction from May's 4-1/2 month peak at 1.2266 has ended, intra-day retreat would bring consolidation before prospect of further gain, however, loss of upward momentum would cap price below last week's high at 1.2254.
On the downside, only a daily close below Mon's 1.2145 low aborts bullish view and may risk weakness towards 1.2105.
Data to be released on Tuesday :
Japan current account, trade balance, GDP deflator, GDP, Economy Watchers outlook, Economy Watchers current, Australia NAB business conditions, NAB business confidence.
UK BRC retail sales, Germany industrial output, ZEW economic sentiment, ZEW current conditions, France current account, trade balance, imports, exports, Italy retail sales, EU employment change, GDP, ZEW survey expectations.
Canada leading index, trade balance, exports, imports, and U.S. trade balance, redbook, JOLTS job openings.