AceTraderFx Dec 05: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 05 Dec 2019 03:30GMT
EUR/USD - 1.1081
Although price has retreated after yesterday’s rise to a near 1-month peak at 1.1115 and minor consolidation would be seen in Asia, as said move signals upmove from last Friday’s low at 1.0982 to retrace decline from October’s 2-month peak at 1.1179 has resumed, upside bias remains and above 1.1115 would extend to 1.1140. However, aforesaid top at 1.1179 should hold on first testing.
On the downside, only below 1.1048 would indicate a temporary top has been made and risk stronger retracement to 1.1004 before prospect of recovery.
Data to be released on Thursday :
Australia retail sales, trade balance, imports, exports.
Germany industrial orders, EU employment change, GDP, retail sales.
U.S. trade balance, initial jobless claims, durables ex-defense, durable goods, durables ex-transport, factory order, and Canada Ivey PMI.