Daily Recommendations on Major EUR/USD
EUR/USD - 1.1300
Although euro's anticipated decline from Thursday's fresh 1-month peak
at 1.1416 (Asia) to as low as 1.1306 in New York and then intra-day
weakness below said sup in Asia confirms early upmove from May's 1.1098
trough has indeed made a temporary top there.
With near term loss of downward momentum it would prevent steep fall and
reckon 1.1270/80 would contain downside, bring subsequent rebound but
several days of choppy consolidation is now envisaged.
On the downside, only a daily close below 1.1265/70 would shift risk to
downside for a stronger retracement of indicated upmove towards 1.1220
(previous res, now sup).
