Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOKon Major
Update Time: 17 Apr 2019 05:30 GMT

EUR/USD - 1.1282
Euro's intra-day brief breach of Tuesday's 1.1280 low (Europe) suggests recent upmove from 1.1184 has made a temporary top at Fri's 2-week high at 1.1325, however, firm break below 1.1270 needed to bring stronger retracement of said move to 1.1250, then later 1.1230, however, reckon 1.1200/10 should remain intact this week.

Above 1.1314 would signal pullback has ended, then price would head to 1.1365/75 before correction occurs due to loss of upward momentum.

On the data front, Italy will kick off with Mar CPI, then EU's current account, Italy's trade balance n followed by EU's trade balance n HICP.

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