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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 195535, member: 22847"] [B]AceTraderFx [COLOR=darkred]May 20: [/COLOR] Daily Recommendations on Major -EUR/USD[/B] [ATTACH type="full"]18454[/ATTACH][B] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 20 May 2021[/B] [I]03:00GMT[/I] EUR/USD - 1.2179 Euro's intra-day selloff in New York morning from 1.2238 to as low as 1.2161 due to broad-based usd's rally in tandem with U.S. yields following release of Fed's minutes signals recent upmove has made a temporary top at Wednesday's 4-1/2 month peak at 1.2245 and a long-awaited correction has taken place. Expect price to resume said decline after consolidation but near term oversold condition may limit weakness to 1.2104/07 and only above 1.2200/10 dampens bearishness, risks 1.2233/38. The euro area countries will release a slew of 2nd-tier eco. data (pls refer to our EI page for details). We have ECB Chief Economist Lane speaking at 08:00GMT, then ECB Preseident Lagards will speak at 12:00GMT. [/QUOTE]
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