Daily Recommendations on Major -EUR/USD
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Update Time: 14 Mar 2018 06:30 GMT
EUR/USD - 1.2391
Yesterday's break above 1.2365/69 res to 1.2407 due to broad-based usd's weakness after Trump fired Sec. of State Tillerson suggests early correction from last Thursday's 2-1/2 week peak at 1.2446 has ended at 1.2273 (Friday) and consolidation with upside bias remains for gain towards 1.2446 but above needed to head to 1.2475/80 later.
Only below 1.2340/45 prolongs choppy trading below 1.2446 and risks stronger retracement to 1.2315.
Data to be released on Wednesday:
New Zealand current account, Australia consumer sentiment, Japan machinary orders, China industrial output, retail sales.
Germany CPI, HICP, Italy retail sales, EU industrial production.
U.S. MBA mortgage application, PPI, core PPI, retail sales, retail sales ex-autos, business inventories
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