AceTraderFx Dec 19: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 19 Dec 2019 03:30GMT
EUR/USD - 1.1117
Despite the single currency’s rise to a 4-month peak at 1.1199 on Friday, subsequent selloff to 1.1112 the same day, then 1.1111 yesterday suggests medium-term upmove has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.1071, then 1.1050/55 however, support at 1.1041 should remain intact and yield rebound later.
On the upside, only above 1.1185 would revive bullishness for a re-test of said top, break would extend uptrend from October’s 2019 trough at 1.0880 to 1.1220/30 later before prospect of correction.
Data to be released on Thursday :
New Zealand GDP, imports, trade balance, exports, Australia employment change, unemployment rate, Japan Bank of Japan interest rate decision.
Swiss trade balance, exports, imports, France business climate, UK retail sales, retail sales ex-fuel, CBI distributive trades, Bank of England MPC vote hike, Bank of England MPC vote unchanged, Bank of England MPC vote cut, Bank of England interest rate decision, Bank of England QE total, Bank of England QE corporate bond purchases.
U.S. current account, initial jobless claims, Philadelphia Fed manufacturing survey, existing home sales, leading indicator, and Canada average weekly earnings, wholesale trade, ADP employment change