Daily Recommendations on Major - EUR/USD
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Update Time: 16 Apr 2019 05:30 GMT
EUR/USD - 1.1305
Although yesterday's retreat from 1.1321 to 1.1298 in lackluster Monday's session suggests further sideways swings below Fri's 2-week high at 1.1325 would continue, as long as 1.1280/90 holds, recent erratic rise from 1.1184 would head to 1.1375, loss of upward momentum should cap price below minor res at 1.1392.
Below 1.1280 signals aforesaid rise has made a temporary top, then risk would shift to the downside for stronger retracement to 1.1250 and later 1.1230.
ON the eco. data, Germany will kick off with ZEW eco. sentiment and current conditions for April, then we have EU's constriction output and ZEW eco. sentiment index. ECB's Nowotny will speak in New York at an event at 13:50GMT.
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