AceTraderFx Dec 21: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 21 Dec 2018 05:30 GMT
EUR/USD - 1.1449
Yesterday’s break of daily res at 1.1472 to a 5-week high of 1.1486 confirms recent rise from Nov’s 16-month trough at 1.1216 has finally resumed and despite intra-day sharp retreat to 1.1403 on usd’s brief rebound due to selloff in U.S. stocks, subsequent rise back to 1.1485 signals said upmove would head to 1.1500 target ‘after’ choppy consolidation, however, reckon 1.1550 would remain intact.
Only a daily close below 1.1403 indicates temporary top is in place, then risk would shift to the downside for stronger retracement to 1.1365, then 1.1337.
Data to be released on Friday :
UK GfK consumer confidence, GDP, current account, PSNB, PSNCR, German GfK consumer sentiment, France business climate, consumer spending, producer prices, Italy business confidence, consumer confidence.
U.S. durable goods, durables ex-transport, durables ex-defense, GDP, PCE, personal income, personal spending, University of Michigan sentiment, Canada GDP, retail sales, and EU consumer confidence.