Daily recommendations on major: EUR/USD suggests further ‘volatile’ swings above 0.9537

EUR/USD: 0.9957

Euro’s rise from Oct’s 0.9632 trough to 0.9875 last Tue suggests further ‘volatile’ swings above Sep’s 2-decade trough at 0.9537 would continue, yesterday’s break of 0.9899 to 0.9976 would re-test 0.9999, above extends said upmove from 0.9537 towards 1.0050 objective later.

On the downside, only a daily close below 0.9899 would indicate a temporary top made and risk weakness towards 0.9849, then 0.9808.

Data to be released on Wednesday

Australia CPI, Japan leading indicator, coincident index.

France consumer confidence, Italy trade balance, Swiss investor sentiment.

U.S. MBA mortgage application, building permits, goods trade balance, wholesale inventories, new home sales and Canada BOC rate decision.