EUR/USD: Daily Recommendations on Major

AceTrader Team AceTrader

DAILY MARKET OUTLOOK on Major
Update Time: 06 Apr 2020 03:30GMT

EUR/USD - 1.0811
Euro's decline for 5 consecutive days last week to 1.0774 in post-NFP New York on Fri suggests early corrective rally from March's near 3-year bottom at 1.0637, although strong, has ended at 1.1147 and downside bias remains for further weakness after consolidation, however, near term loss of momentum would keep price above 1.0721 today and bring rebound.

On the upside, only above 1.0904 signals temporary low is made and may risk stronger retracement to 1.0927/31 before prospect of another fall later this week.

Data to be released today:
Australia ANZ job advertisements, China market holiday, Germany industrial orders, UK Markit construction PMI and EU Sentix 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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