Daily Recommendations on Major - EUR/USD

   DAILY MARKET OUTLOOK on Major
Update Time: 15 Mar 2019 05:30 GMT

EUR/USD - 1.1319
The single currency's rise to 1.1341 yesterday suggests medium-term decline has made a temporary low at last Thursday's 20-month trough at 1.1177 and consolidation with upside bias remains for stronger retracement towards 1.1350/55 would be seen, however, loss of momentum would keep price below 1.1370/75 and yield retreat early next week.

On the downside, only below 1.1249 would indicate aforesaid recovery has ended instead and risk would increase for stronger weakness towards 1.1222.

There is a slew of economic data to be released from the eurozone today but traders should pay attention to the release of EU final inflation figures at 10:00GMT. Street forecasts for mm and yy are 0.3% and 1.5% vs previous readings of -1.0% and 1.5%.

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