Daily Recommendations on Major -EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK
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.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

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