AceTraderFx Nov 23: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 23 Nov 2015 01:50 GMT
EUR/USD - 1.0630
Despite last week's rebound from Wednesday's low at 1.0617 to 1.0763 on Thursday, subsequent strong retreat retreat suggests consolidation with downside bias remains for erratic decline from 1.1715 to resume and yield re-test of said support, break would extend to 1.0600/10, then 1.0585/90.
However, loss of momentum would keep price above support at 1.0564 and yield a much-needed correction later.
On the upside, only above 1.0763 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0831.
Attached Image
Update Time: 23 Nov 2015 01:50 GMT
EUR/USD - 1.0630
Despite last week's rebound from Wednesday's low at 1.0617 to 1.0763 on Thursday, subsequent strong retreat retreat suggests consolidation with downside bias remains for erratic decline from 1.1715 to resume and yield re-test of said support, break would extend to 1.0600/10, then 1.0585/90.
However, loss of momentum would keep price above support at 1.0564 and yield a much-needed correction later.
On the upside, only above 1.0763 would abort daily bearish scenario and risk would shift to the upside for a stronger retracement to 1.0831.