AceTraderFx Jan 27: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 27 Jan 2021 03:00GMT
EUR/USD - 1.2163
Euro's intra-day rally on Tuesday from 1.2108 to 1.2175 due to renewed usd's weakness on return of risk appetite suggests choppy trading above last Mon's 6-week trough at 1.2055 would continue with upside bias, above 1.2190 (Friday's high) would bring stronger retracement of early decline from January's near 33-month peak at 1.2349 to 1.2222 but reckon 1.2284 should remain intact.
On the downside, below 1.2108 anytime signals correction has ended, then weakness to 1.2077 would be seen next.
On the data front, we have German Gfk consumer confidence, then France's consumer confidence n Italy's trade balance. ECB's chief economist will speak at conference at 15:00GMT.
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Update Time: 27 Jan 2021 03:00GMT
EUR/USD - 1.2163
Euro's intra-day rally on Tuesday from 1.2108 to 1.2175 due to renewed usd's weakness on return of risk appetite suggests choppy trading above last Mon's 6-week trough at 1.2055 would continue with upside bias, above 1.2190 (Friday's high) would bring stronger retracement of early decline from January's near 33-month peak at 1.2349 to 1.2222 but reckon 1.2284 should remain intact.
On the downside, below 1.2108 anytime signals correction has ended, then weakness to 1.2077 would be seen next.
On the data front, we have German Gfk consumer confidence, then France's consumer confidence n Italy's trade balance. ECB's chief economist will speak at conference at 15:00GMT.
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