AceTraderFx Jan 07: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 07 Jan 2020 03:30GMT
EUR/USD - 1.1193
Euro’s gain to 1.1206 (Europe) on Monday suggests early correction from last Tuesday’s 4-1/2 month peak at 1.1239 has ended at 1.1126 on Friday and consolidation with upside bias remains for gain towards said temporary top but break there needed to extend recent upmove to next chart objective to 1.1185 later this week.
Only a daily close below 1.1180 suggests choppy trading below 1.1239 would continue and risk weakness to 1.1153/58 but reckon 1.1126 should remain intact.
Data to be released on Tuesday :
Japan services PMI, Australia ANZ job advertisements, New Zealand GDT price index.
Swiss CPI, Italy consumer price, CPI (EU norm), EU HICP, core HICP, retail sales.
U.S. international trade, goods trade balance, redbook, durables ex-defense, durable goods, durables ex-transport, ISM manufacturing PMI and Canada trade balance, exports, imports, Ivey PMI.