AceTraderFx Mar 09: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 09 Mar 2020 03:30GMT
EUR/USD - 1.1368
The single currency’s rally to a fresh 8-month peak at 1.1354 last Friday and intra-day gap-up open and rise above this level to 1.1395 signals upmove from February’s near 3-year trough 1.0778 remains in progress and further gain to 1.1412/15 would be seen before prospect of a much-needed correction due to loss of momentum.
On the downside, only below 1.1286 would indicate a temporary top has been made and risk stronger weakness to 1.1260/65.
Data to be released today:
Japan current account, trade balance, GDP deflator, GDP, economic watchers current, economic watchers outlook.
Swiss unemployment rate, Germany industrial output, exports, imports, trade balance, current account, EU Sentix index.
Canada leading index, housing starts, building permits on Monday.