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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 195404, member: 22847"] [B]AceTraderFx [COLOR="darkred"]May 17: [/COLOR] Daily Recommendations on Major -EUR/USD[/B] [B][ATTACH type="full"]18440[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 17 May 2021[/B] [I]03:00GMT[/I] EUR/USD - 1.2150 Fri's rally from 1.2072 to 1.2147 on renewed usd's weakness due to soft U.S. data and yields suggests pullback from last Tuesday's fresh 10-week peak at 1.2181 has possibly ended, above 1.2152 would bring re-test of said May's high, overbought condition should cap price below 1.2242 (Feb high). On the downside, only below 1.2104/07 sup 'prolongs' choppy swings below 1.2181 and risks weakness to 1.2072 but reckon 1.2052 should hold. [B]Data to be released next week : [/B] China house prices, industrial output, retail sales, U.K. rightmove house price, Japan corporation goods price, machinery orders, Swiss producer/import price, Italy CPI. Canada housing starts, U.S. New York Fed manufacturing, NAHB housing market index on Monday. [/QUOTE]
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