[B]DAILY MARKET OUTLOOK [/B]
Update Time: [B]02 Oct 2015[/B] [I]02:58 GMT[/I]
[B]EUR/USD - 1.1190[/B]
Despite yesterday’s decline to 1.1135 in European morning, subsequent rebound on short-covering in euro, then intra-day rally in NY session to 1.1209 after mixed U.S. data suggests choppy sideways trading is in store ahead of the release of key U.S. jobs report.
As long as 1.1168 (Thur’s European morning high, now sup) holds, consolidation with upside bias remains remains for a retracement of this week’s fall from 1.1281 (Tue) twd 1.1237, however, reckon 1.1268 would cap intra-day gain and yield retreat.
On the downside, below 1.1135 would yield swift drop twd Sep’s 1.1087 bottom, below would signal a downside break of the 1-month long broad sideways trading has occured and would yield weakness twd 1.1018 early next week.