AceTraderFx Aug 30: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 30 Aug 2019 05:30 GMT
EUR/USD - 1.1053
Euro’s break of last week’s 1.1052 low to a 4-week trough at 1.1043 in New York on Thursday due to renewed usd’s strength on easing of Sino-U.S. trade tensions suggests re-test of August’s fresh 2-year bottom at 1.1028 would be forthcoming after initial consolidation, a break there would extend recent downtrend towards next projected downside target at 1.0975.
On the upside, only a move back above 1.1092/98 res prolongs recent ‘volatile’ broad sideways swings and may risk stronger retracement to 1.1130/40 next week.
Data to be released on Friday:
New Zealand building permits, UK GfK consumer confidence, nationwide hose price, Japan Tokyo CPI, Tokyo core CPI, unemployment rate, industrial output, retail sales, housing starts, construction orders, Australia building permits.
Germany retail sales, France budget balance, CPI, producer prices, Swiss KOF indicator, Italy unemployment rate, CPI, GDP, EU HICP, unemployment rate.
U.S. personal income, personal spending, PCE price index, core PCE price index, Chicago PMI, University of Michigan sentiment, and Canada GDP, producer prices.