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AceTraderFx Mar 11: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 11 Mar 2016 04:30 GMT
EUR/USD - 1.1200
Despite euro's intra-day selloff from 1.0990 to a fresh 1-month low of 1.0822 after anticipated ECB's rate cut and more easing measures, subsequent short-covering rebound and then a sharp rally to as high as 1.1218 following ECB President Draghi's 'no further rate cuts' comments confirms correction from February's 3-1/2 month peak at 1.1377 has ended there and outlook remains supportive for re-test of said res level later this month.
Today, expect 1.1116 would contain pullback and yield further headway to 1.1250 after consolidation but 1.1290/00 should cap upside.
On the downside, only below 1.1116 signals temporary top has been made and yield 1-2 days of consolidation before prospect of further rise.
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Update Time: 11 Mar 2016 04:30 GMT
EUR/USD - 1.1200
Despite euro's intra-day selloff from 1.0990 to a fresh 1-month low of 1.0822 after anticipated ECB's rate cut and more easing measures, subsequent short-covering rebound and then a sharp rally to as high as 1.1218 following ECB President Draghi's 'no further rate cuts' comments confirms correction from February's 3-1/2 month peak at 1.1377 has ended there and outlook remains supportive for re-test of said res level later this month.
Today, expect 1.1116 would contain pullback and yield further headway to 1.1250 after consolidation but 1.1290/00 should cap upside.
On the downside, only below 1.1116 signals temporary top has been made and yield 1-2 days of consolidation before prospect of further rise.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real