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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 201280, member: 22847"] [B]AceTraderFx[COLOR="darkred"] Nov 08: [/COLOR]Daily Recommendations on Major -EUR/USD [ATTACH type="full"]19428[/ATTACH] DAILY MARKET OUTLOOK on Major[/B] Update Time[B]: 08 Nov 2021[/B] [I]03:00GMT[/I] EUR/USD - 1.1566 Euro's rebound from Friday's 15-month trough at 1.1514 to 1.1573 on renewed usd's weakness due to selloff in US yields despite upbeat US jobs report suggests Mid Term erratic decline has made a temporary low there and consolidation with mild upside bias remains, however, reckon 1.1600/10 would hold and yield retreat but below 1.1514 is needed for further weakness toward 1.1500, 1.1475/80. On the upside, only a daily close above 1.1620/25 would yield stronger retracement to 1.1664/69 later. On the data front, the only eco. indicator due out is EU's Sentix investor confidence at 09:30GMT. We have Eurogroup meeting today n a no. of ECB officials scheduled to speak in European seesion, pls refer to our EI page for details. ECB President Lagarde will participate at Eurogroup meeting at 11:01GMT. [/QUOTE]
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