Daily Recommendations on Major - EUR/USD
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Update Time: 12 Apr 2019 06:30 GMT
EUR/USD - 1.1283
Although euro has risen after yesterday's fresh 2-week high of 1.1289 to 1.1292 in Asia, suggesting recent erratic upmove from April's 1.1184 bottom remains in force, 'loss of upward momentum' should prevent strong gain above 1.1300 today and reckon previous res at 1.1327/32 should cap intra-day gain and bring strong retreat of aforesaid rise.
On the downside, below 1.1250 (New York low) would be 1st signal temporary top is made and would yield weakness to 1.1230, then 1.1206/10.
On the data front, Germany will release Mar wholesale price index n then EU's industrial production. We have several ECB officials participating in the IMF/World Bank meeting in Washinghton D.C., please refer to our EI section for details.
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