AceTraderFx Mar 10: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 10 Mar 2020 03:30GMT
EUR/USD - 1.1397
The single currency’s rally above last Friday’s high at 1.1354 to a 13-month peak at 1.1494 yesterday on dollar’s broad-based weakness signals upmove from February’s near 3-year trough 1.0778 remains in progress and further gain to 1.1520/30 would be seen before prospect of a much-needed correction due to loss of momentum.
On the downside, only below 1.1354 would indicate a temporary top has been made and risk stronger weakness to 1.1260/65.
Data to be released on Tuesday :
New Zealand manufacturing sales, UK BRC retail sales, Australia NAB business conditions, NAB business confidence, China PPI, CPI.
France non-farm payrolls, industrial output, Italy industrial output, EU employment change, GDP.