AceTraderFx Mar 22: Daily Recommendations on Major - EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 22 Mar 2019 05:30GMT
EUR/USD - 1.1363
Despite the single currency’s rise to a fresh 6-week peak at 1.1448 on Wednesday on the Federal Reserve’s dovish hold, subsequent selloff to 1.1343 yesterday suggests upmove from March’s 20-month trough at 1.1177 has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.1294, however, loss of momentum would keep price above 1.1278 and yield correction early next week.
On the upside, only above 1.1448 would revive bullishness for further gain to 1.1489 but psychological resistance at 1.1500 would hold initially and bring retreat.
Data to be released on Friday :
Australia manufacturing PMI, services PMI, Japan CPI, Nikkei manufacturing PMI.
France Markit manufacturing PMI, Markit services PMI, Germany Markit manufacturing PMI, Markit services PMI, EU current account, Markit manufacturing PMI, Markit services PMI, UK PSNB, PSNCR.
Canada CPI, retail sales, U.S. Markit manufacturing PMI, Markit services PMI, existing home sales, wholesale inventories, wholesale sales, Federal budget.