Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 16 Apr 2019 05:30 GMT

EUR/USD - 1.1305
Although yesterday's retreat from 1.1321 to 1.1298 in lackluster Monday's session suggests further sideways swings below Fri's 2-week high at 1.1325 would continue, as long as 1.1280/90 holds, recent erratic rise from 1.1184 would head to 1.1375, loss of upward momentum should cap price below minor res at 1.1392.

Below 1.1280 signals aforesaid rise has made a temporary top, then risk would shift to the downside for stronger retracement to 1.1250 and later 1.1230.

ON the eco. data, Germany will kick off with ZEW eco. sentiment and current conditions for April, then we have EU's constriction output and ZEW eco. sentiment index. ECB's Nowotny will speak in New York at an event at 13:50GMT.

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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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