Daily Recommendations on Major -EUR/USD
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Update Time: 03 Apr 2017 01:26 GMT
EUR/USD - 1.0677
Friday's resumption of decline from 1.0907 (Monday) to a 2-week low at 1.0652 at New York close confirms euro's medium-term upmove from January's 1.0341 bottom has made a top there and expect initial consolidation today before aforesaid fall extends marginal weakness.
However, 'loss of downward momentum' should keep price well above daily chart sup at 1.0601.
On the upside, only above 1.0720 (previous sup, now res) would defer bearish scenario but 1.0740/50 should cap upside and yield another decline later this week.
Data to be released later:
Swiss manufacturing PMI, Italy manufacturing PMI, France manufacturing PMI, Germany manufacturing PMI, EU manufacturing PMI, PPI, unemployment rate, UK manufacturing PMI.
Canada manufacturing PMI, U.S. manufacturing PMI, ISM manufacturing PMI and construction spending.
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