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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 189842, member: 22847"] [B]AceTraderFx [COLOR="darkred"] [B]Jan 07[/B]:[B] [/B][/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] 07 Jan 2021 [/B][I]03:00GMT[/I] EUR/USD - 1.2331 Despite euro's selloff from yesterday's fresh 32-month peak at 1.2349 to 1.2267, subsequent strong rebound in late New York on usd's weakness due to political turmoil in Washington suggests the pullback has ended and Medium Term upmove would resume after consolidation and above 1.2349 would extend marginally, however, 1.2368/70 may limit upside due to loss of momentum and yield correction. On the downside, only below 1.2267 would revive bearishness for stronger retracement to 1.2254, then 1.2242 but support at 1.2210 should hold. [B]Data to be released on Thursday : [/B] Australia building permits, trade balance, imports, exports. Germany industrial orders, Swiss retail sales, UK Markit construction PMI, Italy CPI, CPI (EU norm), EU HICP, core HICP, retail sales, business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence. U.S. trade balance, initial jobless claims, continued jobless claims, ISM non-manufacturing PMI, and Canada trade balance, exports, imports, Ivey PMI. [/QUOTE]
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