AceTraderFx Oct 04: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 04 Oct 2021 03:00GMT
EUR/USD - 1.1607
Although intra-day firm break of 1.1607/10 suggests recent downtrend has made a temporary 14-month trough at 1.1563 and marginal gain can't be ruled out, near term overbought condition should cap price below 1.164 (previous sup, now res) should hold and yield decline later today or tomorrow.
Below 1.1583/93 anytime signals recovery over, then euro would extend medium-term downtrend towards projected target at 1.1536.
Eco. calenar is pretty light with EU's Sentix investor sentiment being the only data due out at 08:30GMT.
There is a Eurogroup as well as EcoFin meeting today.
DAILY MARKET OUTLOOK on Major
Update Time: 04 Oct 2021 03:00GMT
EUR/USD - 1.1607
Although intra-day firm break of 1.1607/10 suggests recent downtrend has made a temporary 14-month trough at 1.1563 and marginal gain can't be ruled out, near term overbought condition should cap price below 1.164 (previous sup, now res) should hold and yield decline later today or tomorrow.
Below 1.1583/93 anytime signals recovery over, then euro would extend medium-term downtrend towards projected target at 1.1536.
Eco. calenar is pretty light with EU's Sentix investor sentiment being the only data due out at 08:30GMT.
There is a Eurogroup as well as EcoFin meeting today.