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Technical Analysis
AceTraderFx : Daily Recommendations on Major
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[QUOTE="AceTRaderForex, post: 97523, member: 22847"] [B]AceTraderFx Feb 24: Daily Recommendations on Major -EUR/USD [/B] [IMG]http://www.trendsetterfx.com/image/common/flag/flag_eur.gif[/IMG] [B]DAILY MARKET OUTLOOK[/B] Update Time: [B]24 Feb 2016[/B] [I]04:48 GMT[/I] EUR/USD - 1.1010 Although euro is expected to gain respite in Asia following yesterday's intra-day decline from 1.1052 to 1.0990 following release of downbeat German Ifo data and initial consolidation is in store, outlook remains mildly bearish for recent decline from February's 1.1377 peak to pressure price to 1.0950/60. However, loss of near term downward momentum should prevent steep fall and risk has increased for a much-needed minor correction to take place later today or tomorrow. On the upside, expect 1.1052 to hold and yield one more fall, only a daily close above 1.1067/71 would signal temporary bottom is finally in place and may bring stronger retracement towards 1.1093. [/QUOTE]
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