EUR/USD: Daily Recommendations on major

  EUR/USD – 1.1817

  Although yesterday's brief break of last week's 1.1830 high to 1.1841 in New York due to broad-based usd's weakness suggests recent decline has made a temporary bottom at 1.1753 last week, subsequent retreat would bring consolidation ahead of key FOMC's announcement, below 1.1171 signals correction over and yields re-test of 1.1753, then later towards 2021 trough at 1.1705.

  A daily close above 1.1841 (Fed's dovish hold perhaps) would risk stronger gain to 1.1880/90 later.

  Data to be released on Wednesday:

  Australia CPI, Japan coincident index, leading indicator,

  U.K. BRC shop price index, Germany Gfk consumer sentiment, France consumer confidence, Italy business confidence, consumer confidence, Swiss investor sentiment.

  U.S. MBA mortgage application good trade balance, wholesale inventories, Fed interest rate decision and Canada CPI.


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