AceTraderFx Oct 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 10 Oct 2019 03:30GMT
EUR/USD - 1.0985
Euro’s rebound from 1.0942 (Tue) to 1.0989 yesterday suggests pullback from Tue’s 11-day high at 1.1000 has ended and near term upmove from Oct’s fresh 28-month bottom at 1.0880 would extend marginal gain after consolidation, loss of upward momentum would limit upside to 1.1025 and yield decline later today or tomorrow.
On the downside, a daily close below 1.0942 sup would signal said correction has ended, then further weakness towards 1.0905 would follow.
On the data front, Germany will kick off with exports, imports and trade balance, then France’s industrial output and then the same from Italy. Pay particular attention to release of minutes of last ECB monetary policy meeting at 11:30GMT.