AceTraderFx Oct 16: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 16 Oct 2019 03:30GMT
EUR/USD - 1.1030
Yesterday’s rebound from 1.0992 to 1.1044 in New York morning on Brexit deal hope suggests pullback from last Fri’s near 3-week high at 1.1062 has ended and recent upmove from October’s 28-month bottom would resume after consolidation, however, loss of upward momentum should cap price below daily res at 1.1109.
Only below 1.0992 aborts bullishness on the single currency and risk would shift to the downside for stronger retracement to 1.0968, possibly towards 1.0942 later this week.
Data to be released on Wednesday:
New Zealand CPI, Australia Westpac leading index.
Italy industrial orders, industrial sales, consumer prices, CPI, UK DCLG house price index, core CPI, CPI, RPI, core RPI, PPI input prices, PPI output prices, PPI core output, EU trade balance, HICP final, core HICP.
U.S. MBA mortgage application, retail sales ex-autos, retail sales, business inventories, NAHB housing market index and Canada CPI, CPI BoC core and core CPI.