AceTraderFx Sept 01: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 01 Sep 2017 05:10 GMT
EUR/USD - 1.0909
Despite yesterday's resumption of decline from Tuesday's fresh 30-month peak at 1.3070 to 1.1824 at New York open, subsequent strong rebound after soft U.S. data and Treasury yields suggests 1st leg of correction is over and choppy sideways swings are seen ahead of release of key U.S. jobs report.
As long as res at 1.1984 holds, downside bias remains for re-test of 1.1824 but reckon 1.1774 sup would contain weakness and only above 1.1984 may risk stronger retracement to 1.2000/10 before another fall next week.
Data to be released on Friday:
New Zealand terms of trade index, Australia AIG manufacturing index, Japan business Capex, Nikkei manufacturing PMI, consumer confidence, China Caixin manufacturing PMI.
Swiss retail sales, manufacturing PMI, Italy Markit manufacturing PMI, GDP, France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU Markit manufacturing PMI, Markit services PMI, , U.K. Markit manufacturing PMI.
Canada Markit manufacturing PMI, and U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings, Markit manufacturing PMI, construction spending, ISM manufacturing PMI, ISM prices paid, University of Michigan sentiment.