AceTraderFx Sept 05: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 05 Sept 2022 03:00GMT
EUR/USD - 0.9925
Although euro's cross-led rally from last week's 0.9911 low (Thur) to 1.0033 in post-NFP New York Fri suggests choppy swings above Aug's fresh 24-year trough at 0.9901 would continue, subsequent fall to 0.9946 and intra-day gap-down open has retained bearishness, below 0.9901, 0.9855.
On the upside, only daily close above 1.0000 would indicate a temporary trough is made and risk stronger retracement towards 1.0033, break, 1.0078.
Data to be released today:
Australia AIG construction index, services PMI, business inventories, Japan Jibun bank services PMI, China caixin service PMI.
Swiss GDP, Italy S n P global services PMI, France S n P global services PMI, Germany S n P global services PMI, EU S n P global services PMI, Sentix index, retail sales, U.K. S n P global services PMI.
U.S. market holiday and Canada market holiday on Monday.
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
DAILY MARKET OUTLOOK on Major
Update Time: 05 Sept 2022 03:00GMT
EUR/USD - 0.9925
Although euro's cross-led rally from last week's 0.9911 low (Thur) to 1.0033 in post-NFP New York Fri suggests choppy swings above Aug's fresh 24-year trough at 0.9901 would continue, subsequent fall to 0.9946 and intra-day gap-down open has retained bearishness, below 0.9901, 0.9855.
On the upside, only daily close above 1.0000 would indicate a temporary trough is made and risk stronger retracement towards 1.0033, break, 1.0078.
Data to be released today:
Australia AIG construction index, services PMI, business inventories, Japan Jibun bank services PMI, China caixin service PMI.
Swiss GDP, Italy S n P global services PMI, France S n P global services PMI, Germany S n P global services PMI, EU S n P global services PMI, Sentix index, retail sales, U.K. S n P global services PMI.
U.S. market holiday and Canada market holiday on Monday.
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