AceTraderFx May 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 10 May 2022 03:00GMT
EUR/USD - 1.0562
Although euro’s retreat from last Thursday’s 8-day high of 1.0641 suggests recovery from April’s fresh 5-year bottom at 1.0472 has possibly ended, Friday’s rebound from 1.0483 to 1.0600 in New York and yesterday’s fall to 1.0496 at European open suggest further volatile swings above said support would continue before prospect of another fall, below 1.0483 would head towards 1.0472, then 1.0405/10.
On the upside, only a daily close above 1.0600 would risk re-test of 1.0641, break, 1.0698/00 later.
Data to be released on Tuesday:
New Zealand retail sales, NAB business conditions, NAB business confidence.
U.K. BRC retail sales, Japan all household spending, Australia retail sales, Italy industrial output, Germany ZEW economic sentiment, ZEW economic expectation.
Canada leading index and U.S. redbook.