AceTraderFx July 28: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 28 Jul 2017 02:28 GMT
EUR/USD - 1.1685
Despite a brief jump in thin Asian lunch session yesterday to a near 2-1/2 year high of 1.1777, subsequent stronger-than-expected decline to 1.1651 due to broad-based usd’s short-covering rally in New York session suggests temporary top has been made and 1-2 days of choppy consolidation is in store.
As long as this week’s low at 1.1614 holds, prospect of another rebound remains but 1.1777 should cap upside.
A daily close below 1.1614 would risk stronger correction to 1.1584, then 1.1561/65.
Data to be released on Friday:
U.K. consumer confidence, Japan household spending, CPI, unemployment rate, retail sales, Australia PPI, France GDP, consumer spending, CPI, Germany import price, Swiss KOF indicator, EU consumer confidence, business climate, economic sentiment, industrial sentiment, service sentiment, Germany CPI, HICP, Canada GDP and U.S. employment wages, employment benefits, employment cost, GDP, employment cost index, Michigan consumer sentiment, PCE, GDP.