AceTraderFx Jan 31: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 31 Jan 2019 05:30 GMT
EUR/USD - 1.1492
Yesterday’s rally above 1.1451 (Wednesday’s top, now sup) to a near 3-week high at 1.1502 after ‘dovish’ FOMC statement and Fed’ chair J. Powell’s comments suggests correction from January’s peak at 1.1570 has ended last week at 1.1290 and gain towards 1.1550 is envisaged after consolidation, reckon 1.1570 should remain intact ahead of Friday’s U.S. jobs report.
Only a daily close below 1.1451 signals temporary top has been made, then risk is seen for a stronger retracement of aforesaid rise to 1.1406/11.
Data to be released on Thursday:
Japan industrial production, construction orders, housing starts, Australia export prices, import prices, China NBS non-manufacturing PMI, NBS non-manufacturing PMI, NBS manufacturing PMI.
UK GfK consumer confidence, nationwide house price, Germany retail sales, unemployment change, unemployment rate, France CPI, Italy GDP, unemployment rate, EU GDP, Canada GDP, producer prices.
U.S. personal income, personal spending, PCE, initial jobless claims, Chicago PMI.