Daily Recommendations on Major -EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 13 Mar 2018 05:30 GMT

EUR/USD - 1.2339
Despite euro's intra-day rise from 1.2291 to 1.2345 (New York) suggests decline from last Thursday's 2-1/2 week high at 1.2446 has made a temporary low at 1.2273 (post-NFP New York low) Friday and another day of choppy sideways swings are in store, reckon 1.2365/69 would cap present gain and yield subsequent fall, loss of downward momentum should keep price above 1.2222.

Only a daily close above 1.2400 suggests said pullback from 1.2446 has ended, then risk is seen for re-test of this level.

The only eco. data due out is France's non-farm payrolls. The Ecofin Council (ECOFIN) meeting starts today and will be attended by economics and finance ministers from all EU member states. EU Commissioner Moscovici and ECB VP Constancio will be speaking some time in the meeting.

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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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