EUR/USD: Daily Recommendations on Major

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 27 Mar 2020 03:30GMT

EUR/USD - 1.1050
The single currency's rally above Wednesday's high at 1.0893 to as high as 1.1058 yesterday signals upmove from Monday's near 3-year trough at 1.0637 has once again resumed and further gain to 1.1095 would be seen after consolidation, however, over bought condition would keep price below 1.1199 and yield a much-needed correction early next week.

On the downside, only below 1.0928 would indicate a temporary top has been made and risk stronger retracement to 1.0887 but 1.0850 shouold hold.

Data to be released on Friday :
Japan Tokyo core CPI, Tokyo CPI.
UK nationwide house price index, France consumer confidence, Italy manufacturing business confidence, consumer confidence.
U.S. personal income, personal spending, core PCE price index, PCE price index, University of Michigan sentiment, and Canada average weekly earnings, budget balance.

Author

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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