Daily Recommendations on Major - EUR/USD

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 16 Mar 2020 03:30GMT

EUR/USD - 1.1100
Despite the single currency's rally in New Zealand to 1.1199 on the Federal Reserve's surprise decision to cut rates to 0-0.25%, subsequent retreat suggests recovery from Friday's low at 1.1055 has ended there and below said support would extend decline from last Monday's 13-month peak at 1.1494 to 1.0952 before prospect of correction later.

On the upside, only above 1.1199 would indicate aforesaid pullback has ended instead and risk stronger retracement to 1.1275 (50% r).

Data to be released today:
Japan Machinery orders.
UK Rightmove house price, China house prices, industrial output, retail sales, Swiss import price, Italy consumer prices, CPI (EU) norm.
U.S. New York Fed manufacturing on Monday.

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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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