fxsoriginal  Daily market outlook on major

Update Time: 07 Apr 2021 03:00GMT

EUR/USD - 1.1871

Euro's rally yesterday above Mon's 1.1819 high to a near 2-week top of 1.1877 due to continued USD's weakness on falling U.S. yields suggests upmove from last Wednesday's 4-1/2 month trough at 1.1705 remains in progress and would extend marginal gain, overbought condition should cap price at 1.1947 and risk has increased for a strong retracement of said rise.

On the downside, below 1.1819 signal at least the 1st leg of correction over and heads back to 1.1786/96.

Data to be released on Wednesday 

Australia AIG construction index, Markit services PMI, Japan coincident index, leading indicator.
Italy Markit services PMI, France Markit services PMI, Germany Markit services PMI, EU Markit services PMI, UK Markit services PMI.
U.S. MBA mortgage applications, trade balance, and Canada trade balance, exports, imports, Ivey PMI.

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