AceTraderFx July 08: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 08 July 2021 03:00GMT
EUR/USD - 1.1792
Euro's break of last week's low at 1.1808 (Friday) to a 3-month trough at 1.1782 in New York confirms recent decline has once again resumed and as long as 1.1838 holds, further weakness is envisaged after consolidation, however, 'loss of downward momentum' should keep price well above 2021 bottom at 1.1705 and risk has increased for a correction to occur later today or tomorrow.
On the upside, a daily close above 1.1838 signals temporary low is in place and would head to 1.1852/56, break, 1.1880/90.
On the data front, we have Germany's export n imports, trader balance n current account. ECB member de Cos will speak at a conference at 10:35GMT.
DAILY MARKET OUTLOOK on Major
Update Time: 08 July 2021 03:00GMT
EUR/USD - 1.1792
Euro's break of last week's low at 1.1808 (Friday) to a 3-month trough at 1.1782 in New York confirms recent decline has once again resumed and as long as 1.1838 holds, further weakness is envisaged after consolidation, however, 'loss of downward momentum' should keep price well above 2021 bottom at 1.1705 and risk has increased for a correction to occur later today or tomorrow.
On the upside, a daily close above 1.1838 signals temporary low is in place and would head to 1.1852/56, break, 1.1880/90.
On the data front, we have Germany's export n imports, trader balance n current account. ECB member de Cos will speak at a conference at 10:35GMT.