Daily Recommendations on Major -EUR/USD

Daily Recommendations on Major -EUR/USD

13 May 2016, 06:49
Roberto Jacobs
0
61

Daily Recommendations on Major -EUR/USD

 DAILY MARKET OUTLOOK
Update Time: 13 May 2016 04:18 GMT 

EUR/USD - 1.1373
Despite the single currency's strong rebound from Tuesday's low at 1.1359 to 1.1447 on Wednesday, yesterday's retreat suggests aforesaid recovery is over and decline from last Tuesday's 8-month peak at 1.1617 would resume after consolidation and extend towards 1.1341, then 1.1310 ahead of today's U.S. retail sales data. 

However, support at 1.1272 should hold and yield recovery later.

On the upside, only above 1.1415 would indicate pullback from 1.1447 has ended instead and turn outlook bullish for gain to said resistance.

AceTrader Team - AceTrader

fxs_logo_news.png



Share it with friends: