AceTraderFx Nov 09: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 09 Nov 2017 05:20 GMT
EUR/USD - 1.1592
Although euro's rebound from Tuesday's fresh 3-month trough at 1.1554 suggests recent downtrend has made a temporary low, as 1.1611 has capped yesterday's rebound, consolidation with downside bias is retained, below 1.1570/75 would bring one more fall but 'loss of downward momentum' should keep price above 1.1512.
A daily close above 1.1624 res would risk stronger retracement to 1.1660/70, however, reckon res at 1.1691 should cap upside and yield retreat.
News to be released on Thursday:
New Zealand interest rate decision, Japan trade balance, current account, machinery orders, tertiary industry index, eco watchers outlook, eco watchers current.
U.K. RICS housing survey, China PPI, CPI, Swiss unemployment rate, Germany exports, imports, trade balance, current account, Canada new housing price index and U.S. initial jobless claims, wholesale inventories, wholesale sales.