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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 195582, member: 22847"] [B]AceTraderFx [COLOR="darkred"]May 21: [/COLOR]May 21: Daily Recommendations on Major -EUR/USD [ATTACH type="full"]18467[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 21 May 2021[/B] [I]03:00GMT[/I] EUR/USD - 1.2225 As euro has risen again yesterday's due to renewed risk sentiment on falling U.S. yields after strong retreat from Wednesday's 4-1/2 month peak at 1.2245 to 1.2161, above said res would extend recent upmove marginally, however, loss of upward momentum should cap price below daily res at 1.2309. On the downside, below 1.2180 signals intra-day top is in place and heads back to 1.2161, break there needed to revive bearishness for stronger correction towards 1.2127 early next week. Today is PMI day, France will kick off with Markit manufacturing and service PMI at 07:15 GMT, followed by Germany at 07:30 GMT and then EZ at 08:00 GMT. Market forecast for EZ are 62.5 and 52.3 for manufacturing PMI and services PMI respectively, versus prior readings of 62.9 and 50.5. We also have ECB President Christine Lagarde scheduled to speak at 11:00 GMT in Eurogroup and informal ECONFIN meetings in Lisbon, Portugal, which would be followed by a press conference. [/QUOTE]
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