AceTraderFx Nov 16: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 16 Nov 2020 03:00GMT
EUR/USD - 1.1840
Euro's intra-day break above Friday's 1.1837 high on risk sentiment due to rise in U.S. futures suggests first leg of correction from last Monday's 7-week 1.1919 peak has ended at 1.1746 on Wednesday and mild upside bias to 1.1861 would be seen, however, reckon 1.1880/90 should hold and yield retreat.
On the downside, below 1.1800 would indicate correction has possibly ended and head to 1.1749, break, 1.1746 again.
On the data front, Italy will release CPI and CPI (EU norm) at 09:00 GMT and we have a few ECB officials scheduled to speak later, please refer to our EI page for more details.
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Update Time: 16 Nov 2020 03:00GMT
EUR/USD - 1.1840
Euro's intra-day break above Friday's 1.1837 high on risk sentiment due to rise in U.S. futures suggests first leg of correction from last Monday's 7-week 1.1919 peak has ended at 1.1746 on Wednesday and mild upside bias to 1.1861 would be seen, however, reckon 1.1880/90 should hold and yield retreat.
On the downside, below 1.1800 would indicate correction has possibly ended and head to 1.1749, break, 1.1746 again.
On the data front, Italy will release CPI and CPI (EU norm) at 09:00 GMT and we have a few ECB officials scheduled to speak later, please refer to our EI page for more details.
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 updates