AceTraderFx Feb 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 10 Feb 2020 03:30GMT
EUR/USD - 1.0946
Friday’s anticipated resumption of recent decline to a 4-month low of 1.0943 after intra-day choppy trading in post-NFP New York session suggests downside bias remains for weakness towards 2019 28-month bottom at 1.0880 (September), however, break needed to retain bearishness for further subsequent decline towards next chart obj. at 1.0840.
On the upside, only a daily close above 1.0985 (Friday’s high) signals temporary low is made n may risk stronger retracement to 1.1013/15.
Data to be released later today:
Japan current account, trade balance, economy watchers current, economy watchers outlook, China PPI, CPI.
Swiss unemployment rate, CPI, Italy industrial output, EU Sentix index.
Canada leading index, housing starts, building permits on Monday.