AceTraderFx Jan 11: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 11 Jan 2018 05:30 GMT
EUR/USD - 1.1960
Although yesterday's intra-day jump to 1.2018 in hectic European morning on media report China may slow or halt its purchase of U.S. Treasuries suggests correction from last Thursday's 3-1/2 month peak at 1.2089 has possibly ended at 1.1916 (Tuesday), subsequent strong retreat should bring choppy sideways swings.
Above 1.2018 would encourage for further headway towards 1.2052 whilst below 1.1916 may risk one more fall, however, 'loss of downward momentum' would keep price above 1.1885.
Data to be released on Thursday:
Australia retial sales, Japan conincident indicator, leading indicator.
Italy CPI, CPI (EU NORM), EU industrial production, U.S. initial jobless claims, PPI, core PPI, Canada new house price index