AceTraderFx Feb 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 10 Feb 2021 03:00GMT
EUR/USD - 1.2110
Euro's resumption of near term upmove from Friday's 2-month bottom at 1.1953 to a 1-week high of 1.2121 in New York yesterday due to continued usd's weakness suggests recent fall from Jan's 1.2349 peak has made a low there and as long as 1.2066 (Monday high, now sup) holds, upside bias remains for further gain, overbought condition should cap price well below daily res at 1.2190.
Only a daily close below 1.2066 signals 1st leg of correction from 1.1953 over and risks weakness towards 1.2019 before prospect of rebound later this week.
Data to be released on Wednesday :
Australia Westpac consumer sentiment, Japan corporate goods price index, machine tool orders, China PPI, CPI, Germany CPI, HICP.
France industrial output, and U.S. MBA mortgage applications, core CPI, CPI, real weekly earnings, wholesale inventory, wholesale sales, Federal budget.
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Update Time: 10 Feb 2021 03:00GMT
EUR/USD - 1.2110
Euro's resumption of near term upmove from Friday's 2-month bottom at 1.1953 to a 1-week high of 1.2121 in New York yesterday due to continued usd's weakness suggests recent fall from Jan's 1.2349 peak has made a low there and as long as 1.2066 (Monday high, now sup) holds, upside bias remains for further gain, overbought condition should cap price well below daily res at 1.2190.
Only a daily close below 1.2066 signals 1st leg of correction from 1.1953 over and risks weakness towards 1.2019 before prospect of rebound later this week.
Data to be released on Wednesday :
Australia Westpac consumer sentiment, Japan corporate goods price index, machine tool orders, China PPI, CPI, Germany CPI, HICP.
France industrial output, and U.S. MBA mortgage applications, core CPI, CPI, real weekly earnings, wholesale inventory, wholesale sales, Federal budget.
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