AceTraderFx Sept 15 : Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 15 Sept 2020 03:30GMT
EUR/USD - 1.1867
The single currency’s rebound to 1.1887 yesterday on usd’s weakness suggests early pullback from last Thursday’s high at 1.1917 has ended at 1.1811 the same day and consolidation with upside bias remains for re-test of said resistance, break would extend upmove from last Wednesday’s 4-week trough at 1.1754 to 1.1935/40 before prospect of retreat later this week.
On the downside, only below 1.1811 would indicate aforesaid correction has ended instead and risk weakness to 1.1780/85 but support at 1.1754 should remain intact.
Pay attention to the release of Germany ZEW economic sentiment and current conditions at 09:00GMT. Street forecasts are 69.8 and -72.0 vs previous readings of 71.5 and -81.3 respectively.