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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 165468, member: 22847"] [B]AceTraderFx Jun 06: Daily Recommendations on Major -EUR/USD[/B] [IMG]http://www.trendsetterfx.com/image/common/flag/flag_eur.gif [/IMG] [B]DAILY MARKET OUTLOOK on Major [/B] Update Time: [B]06 Jun 2019[/B] [I]05:30 GMT[/I] EUR/USD - 1.1226 Despite Wed's anticipated resumption of recent upmove from 2019 22-month bottom at 1.1108 (May) to a 1-month high of 1.1306 at New York open after weak U.S. ADP private payrolls data, subsequent decline to as low as 1.1220 near New York close due to broad-based usd's rally on short covering signals temporary top has been made and downside bias remains for stronger retracement to 1.1160/70. Only above 1.1306 risks marginal gain to 1.1325, loss of momentum should cap price at 1.1345/50 and yield decline. Ahead of ECB's rate decision and post-ECB press conference, the euro area will release a slew of eco. data (please refer to our EI page for details). [/QUOTE]
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