DAILY MARKET OUTLOOK on Major
Update Time: 19 Mar 2019 05:41 GMT
EUR/USD - 1.1345
The single currency's rise to 1.1359 yesterday suggests medium-term decline has made a temporary low at last March's 20-month trough at 1.1177 and consolidation with upside bias remains for stronger retracement towards 1.1374/75 would be seen, however, loss of momentum would keep price below 1.1390/00 and yield retreat later this 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 data to be released from the eurozone today but particular attention should be given to Germany's ZEW economic sentiment and current conditions at 10:00GMT.
Street forecasts are -11.0 and 11.7 vs previous readings of -13.4 and 15.0 respectively.
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