Daily Recommendations on Major -EUR/USD
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Update Time: 30 Mar 2017 03:21 GMT
EUR/USD - 1.0748
Yesterday's resumption of decline from Monday's 4-month peak at 1.0907 to 1.0741 strongly suggests euro's medium-term rise from January's near 4-year trough at 1.0341 has made a temporary top and consolidation with downside bias remains, a daily close below last week's 1.0720 low (Tuesday) would add credence to this view and bring stronger retracement towards 1.0650/55 'later'.
On the upside, only above 1.0799 (previous low, now res) would abort present bearish scenario on euro, risk stronger gain towards 1.0827.
Data to be released later:
German import prices, EU business climate, economic sentiment, industrial sentiment, services sentiment, consumer confidence, Germany CPI, HICP.
U.S. GDP, PCE, core PCE, jobless claims and Canada PPI.
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