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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 186071, member: 22847"] [B]AceTraderFx [COLOR=rgb(184, 49, 47)]Sept 30[/COLOR][/B][COLOR=rgb(184, 49, 47)]:[/COLOR][B][COLOR=rgb(184, 49, 47)] [/COLOR]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] 30 Sept 2020 [/B][I]03:30GMT[/I] EUR/USD - 1.1746 Despite the single currency's fall to a near 2-month bottom at 1.1613 on Friday due usd's continued strength, subsequent strong rebound to 1.1745 yesterday suggests decline from September's 2-year peak at 1.2011 has made a temporary low there and consolidation with upside bias for gain to 1.1684/87, above would extend to 1.1774/75 before prospect of retreat later this week. On the downside, only below 1.1679 would indicate aforesaid recovery has ended instead and turn outlook bearish for weakness to 1.1640/43. Pay attention to the release of Germany retail sales mm and yy at 06:00GMT. Street forecasts are 0.5% and 4.2% vs previous readings of 4.2% and -20.4%. There are a number of ECB policymakers due to speak today, with President Lagarde scheduled to speak at the ECB and its Watchers Conference in Frankfurt at 07:20GMT. [/QUOTE]
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