Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 11 Apr 2019 05:30 GMT

EUR/USD - 1.1277
Despite euro's brief but sharp retreat from yesterday's 2-week high of 1.1288 to 1.1230 after dovish comments by ECB's Draghi, subsequent strong bounce to 1.1280 following release of dovish FOMC minutes suggests upside bias remains for recent erratic rise from 1.1184 to extend marginal gain, 'loss of upward momentum' should cap price below res at 1.1332.

On the downside, below 1.1230 any way signals correction is over, then risk would shift to the downside for weakness to 1.1206/10, then later towards 1.1184.

Data to be released on Thursday :
UK RICS housing price balance, China PPI, CPI, Germany CPI, HICP, France CPI, U.S. initial jobless claims, PPI, and Canada new housing price index.

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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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