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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 198227, member: 22847"] [B]AceTraderFx[COLOR=darkred] Aug 10: [/COLOR]Daily Recommendations on Major –USD/JPY [ATTACH type="full"]18964[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 10 Aug 2021[/B] [I]09:30GMT[/I] USD/JPY - 110.46 Despite the greenback's selloff to a 2-month trough at 108.73 last Wednesday, subsequent rally to 110.35 last Friday on upbeat U.S. jobs report and intra-day break above there suggests a temporary low has been made and consolidation with upside bias remains for stronger retracement to 110.60/65 before prospect of retreat later. On the downside, only below 109.41 would indicate aforesaid recovery has ended instead and risk weakness to 109.07, then bring re-test of said support, break would extend to 108.50/60. [B]Data to be released on Tuesday:[/B] New Zealand retail sales, U.K. BRC retail sales, Japan current account, trade balance, Eco watchers current, Eco watchers outlook, Australia NAC business conditions, NAC business confidence. Germany ZEW economic sentiment, ZEW current conditions, EU ZEW survey expectations. Canada leading index, U.S. labor costs, productivity and redbook retail sales. [/QUOTE]
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