AceTraderFx Jan 5: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 05 Jan 2016 03:18 GMT
EUR/USD - 1.0832
Yesterday's break of daily sup at 1.0802 to a 4-week low of 1.0781 in New York session confirms early decline from December's 1.1060 peak has once again resumed and as long as 1.0860/65 holds, intra-day bearishness remains for aforesaid fall to pressure price to 1.0750/60.
However, near term loss of momentum is expected to keep euro above 1.0728 today and bring subsequent correction.
On the upside, a daily close above 1.0865 would be the 1st signal temporary low is in place, then further gain towards 1.0946 would follow later.
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Update Time: 05 Jan 2016 03:18 GMT
EUR/USD - 1.0832
Yesterday's break of daily sup at 1.0802 to a 4-week low of 1.0781 in New York session confirms early decline from December's 1.1060 peak has once again resumed and as long as 1.0860/65 holds, intra-day bearishness remains for aforesaid fall to pressure price to 1.0750/60.
However, near term loss of momentum is expected to keep euro above 1.0728 today and bring subsequent correction.
On the upside, a daily close above 1.0865 would be the 1st signal temporary low is in place, then further gain towards 1.0946 would follow later.