AceTraderFx July 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 25 July 2022 03:00GMT
EUR/USD - 1.0195
Despite euro's strong retreat from Thursday's 2-week top at 1.0278 to 1.0131 (Europe) on Friday, subsequent rally back to 1.0255 in New York afternoon on broad-based usd's weakness suggests pullback over and rise from July's 20-year trough at 0.9953 may head towards projected target at 1.0316 before decline due to loss of momentum.
On the downside, only a daily close below 1.0180/90 would risk re-test of 1.0131/36, break would head to 1.0080/85.
Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders, CBI business optimism.
U.S. national activity and Dallas Fed manufacturing business index on Monday.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update
DAILY MARKET OUTLOOK on Major
Update Time: 25 July 2022 03:00GMT
EUR/USD - 1.0195
Despite euro's strong retreat from Thursday's 2-week top at 1.0278 to 1.0131 (Europe) on Friday, subsequent rally back to 1.0255 in New York afternoon on broad-based usd's weakness suggests pullback over and rise from July's 20-year trough at 0.9953 may head towards projected target at 1.0316 before decline due to loss of momentum.
On the downside, only a daily close below 1.0180/90 would risk re-test of 1.0131/36, break would head to 1.0080/85.
Data to be released later today:
Germany Ifo business climate, Ifo current conditions, Ifo expectations, U.K. CBI trends orders, CBI business optimism.
U.S. national activity and Dallas Fed manufacturing business index on Monday.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update