AceTraderFx Aug 27: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 27 Aug 2018 05:30 GMT
EUR/USD - 1.1627
Despite euro's rally in NY on Fri to a 3-week high of 1.1640 after Fed J. Powell's prepared Jackson Hole speech, then initial gain to 1.1654 ahead of Asian open, loss of upward momentum is expected to limit upside to 1.1670/80 and risk has increased for a much-needed retracement of recent upmove to occur later today.
On the downside, a firm break of 1.1600 would signal temporary top is in place and yield stronger pullback to 1.1555 but reckon sup at 1.1530 would remain intact.
Data front: Germany Ifo business climate, Ifo current conditions, Ifo expectations.
And U.S. national activity index, Dallas Fed manufacturing business index.
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Update Time: 27 Aug 2018 05:30 GMT
EUR/USD - 1.1627
Despite euro's rally in NY on Fri to a 3-week high of 1.1640 after Fed J. Powell's prepared Jackson Hole speech, then initial gain to 1.1654 ahead of Asian open, loss of upward momentum is expected to limit upside to 1.1670/80 and risk has increased for a much-needed retracement of recent upmove to occur later today.
On the downside, a firm break of 1.1600 would signal temporary top is in place and yield stronger pullback to 1.1555 but reckon sup at 1.1530 would remain intact.
Data front: Germany Ifo business climate, Ifo current conditions, Ifo expectations.
And U.S. national activity index, Dallas Fed manufacturing business index.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates