AceTraderFx Apr 16: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 16 Apr 2021 03:00GMT
EUR/USD - 1.1970 Despite euro’s intra-day retreat after hitting a 5-week peak of 1.1993 (Europe), as long as 1.1952/57 sup holds, corrective rise from March’s 4-1/2 month bottom at 1.1705 may extend marginal gain, loss of upward momentum would cap price at 1.2024 and yield retracement of aforesaid rise.
A daily close below 1.1952 signals temporary top is made and heads back towards 1.1878 early next week.
Data to be released on Friday :
New Zealand manufacturing PMI, China housing prices, industrial output, retail sales.
Swiss producer/import price, Italy trade balance, EU trade balance, HICP.
U.S. building permits, housing starts, U. Mich. sentiment, Canada wholesale trade.