AceTraderFx Nov 25: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 25 Nov 2021 03:00GMT
EUR/USD - 1.1210
Despite euro's break of Tuesday's 1.1227 low to a fresh 16-month trough of 1.1187 in New York Wednesday, subsequent rebound suggests consolidation is in store before downtrend from 2021 peak at 1.2349 (Jan) resumes, however, near term loss of momentum should keep price above 1.1139.
On the upside, only a daily close above 1.1227 confirms a temporary low is made and risks stronger retracement to 1.1260/70.
Data to be released on Thursday:
New Zealand imports, trade balance, exports, Australia capital expenditure, building capex, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer sentiment, Italy trade balance.
U.S. Market Holiday and Canada average weekly earnings.
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Update Time: 25 Nov 2021 03:00GMT
EUR/USD - 1.1210
Despite euro's break of Tuesday's 1.1227 low to a fresh 16-month trough of 1.1187 in New York Wednesday, subsequent rebound suggests consolidation is in store before downtrend from 2021 peak at 1.2349 (Jan) resumes, however, near term loss of momentum should keep price above 1.1139.
On the upside, only a daily close above 1.1227 confirms a temporary low is made and risks stronger retracement to 1.1260/70.
Data to be released on Thursday:
New Zealand imports, trade balance, exports, Australia capital expenditure, building capex, Japan coincident index, leading indicator.
Germany GDP, Gfk consumer sentiment, Italy trade balance.
U.S. Market Holiday and Canada average weekly earnings.
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