AceTraderFx Dec 05 : Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 05 Dec 2018 05:30 GMT
EUR/USD - 1.1334
Although euro’s initial rally above 1.1402 res to a 10-day high of 1.1420 in Europe due to continued drop in U.S. yields suggests choppy trading above last week’s low at 1.1267 would continue, subsequent selloff to 1.1319 as usd caught a bid in New York on 3% decline in the Dow suggests choppy trading with downside bias would be seen, however, reckon 1.1267 sup should hold firm here.
On the upside, only above 1.1380 dampens intra-day bearishness and risk another rise to 1.1420, break, 1,1440/50.
Data to be released on Wednesday :
Australia AIG services index, GDP, Japan Markit services PMI, China Caixin services PMI.
France current account, Markit services PMI, Italy Markit services PMI, Germany Markit services PMI, EU Markit services PMI, retail sales, UK Markit services PMI.
U.S. market holiday, Fed’s Beige Book, and Canada BoC interest rate decision.