AceTraderFx May 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 23 May 2019 05:30 GMT
EUR/USD - 1.1150
Despite falling to a marginal 2-week low of 1.1142 on Tue, subsequent brief bounce to 1.1188 and yesterday’s sideways swings in directionless trading suggests price would ‘gyrate’ inside recent 1.1265-1.1135 broad range and a daily close above said Tuesday’s high would add credence to this consolidative view and would head back to 1.1265, however, reckon 1.1265 would cap upside.
Below 1.1135 any time would risk re-test of Apr’s 22-month bottom at 1.1112, break there would extend MT downtrend to 1.1060/70 later this week.
Data to be released on Thursday :
Australia manufacturing PMI, services PMI, Japan Nikkei manufacturing PMI.
France business climate, Markit manufacturing PMI, Markit services PMI, Germany GDP, Markit manufacturing PMI, Markit services PMI, Ifo business climate, Ifo current conditions, Ifo expectations, Swiss industrial production, EU Markit manufacturing PMI, Markit services PMI.
Canada wholesale trade, and U.S. building permits, initial jobless claims, Markit manufacturing PMI, Markit services PMI, new home sales, KC Fed manufacturing index.