AceTraderFx Oct 11: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 11 Oct 2021 03:00GMT
EUR/USD - 1.1573
Despite euro's brief jump to 1.1585 on Friday after a big miss in U.S. payrolls, lack of follow-through buying and subsequent sideways move suggests as long as said post-NFP high holds, downside bias remains for re-test of last Wed's fresh 14-month trough at 1.1530, then weakness to 'psychological' 1.1500 handle.
Only a daily close above 1.1585 risks stronger retracement of recent downtrend to 1.1613, however, reckon res at 1.1640 should cap upside this week.
Economic calendar is pretty light with Italy's industrial output being the only data due out.
We have a number of ECB officials scheduled to speak in European session (please refer to our EI page for details).
Pay attention to ECB President and ECB's Panetta who are participating in the IMF/World Bank Group annual meetings.
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Update Time: 11 Oct 2021 03:00GMT
EUR/USD - 1.1573
Despite euro's brief jump to 1.1585 on Friday after a big miss in U.S. payrolls, lack of follow-through buying and subsequent sideways move suggests as long as said post-NFP high holds, downside bias remains for re-test of last Wed's fresh 14-month trough at 1.1530, then weakness to 'psychological' 1.1500 handle.
Only a daily close above 1.1585 risks stronger retracement of recent downtrend to 1.1613, however, reckon res at 1.1640 should cap upside this week.
Economic calendar is pretty light with Italy's industrial output being the only data due out.
We have a number of ECB officials scheduled to speak in European session (please refer to our EI page for details).
Pay attention to ECB President and ECB's Panetta who are participating in the IMF/World Bank Group annual meetings.
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 update