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AceTraderFx Jan 17: Daily Recommendations on Major -EUR/USD


DAILY MARKET OUTLOOK on Major
Update Time: 17 Jan 2020 03:30GMT

EUR/USD - 1.1135
Despite euro's rally from last Friday's 2-week bottom at 1.1086 to 1.1172 yesterday, subsequent retreat to 1.1129 on upbeat U.S. data suggests temporary top made and consolidation with downside bias remains for weakness towards 1.1105 (Tuesday's low), where break would bring re-test of 1.1086.

On the upside, only above 1.1172 would risk another rise to 1.1200/06 before prospect of correction.

Data to be released on Friday:
Australia manufacturing PMI, China industrial output, retail sales, GDP, Japan tertiary industry index.
Swiss producer/import price, France budget balance, Italy trade balance, global trade balance, CPI, CPI (EU norm), EU current account, construction output, HICP, HICP core, UK retail sales, retail sales ex-fuel.
U.S. building permit, housing starts, industrial production, capacity utilization, manufacturing output, JOLTS job openings, University of Michigan sentiment.

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