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AceTraderFx Mar 04: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 04 Mar 2019 05:30 GMT
EUR/USD - 1.1368
Despite euro' rally to as high as 1.1420 last Thursday, subsequent retreat to 1.1353 Friday on dollar's broad-based strength suggests erratic upmove from February's low at 1.1234 has made a temporary top there and consolidation with downside bias remains for stronger retracement towards 1.1345, then 1.1316, however, loss of momentum would keep price above 1.1275 and yield rebound later.
On the upside, only above 1.1409 would revive bullishness for a re-test of 1.1420, break would extend towards 1.1473 before prospect of correction.
Pay attention to the release of EU PPI at 10:00GMT.
Street forecast for MM and YY are 0.3% n 2.9% vs prev. readings of -0.8% and 3.0% respectively.
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Update Time: 04 Mar 2019 05:30 GMT
EUR/USD - 1.1368
Despite euro' rally to as high as 1.1420 last Thursday, subsequent retreat to 1.1353 Friday on dollar's broad-based strength suggests erratic upmove from February's low at 1.1234 has made a temporary top there and consolidation with downside bias remains for stronger retracement towards 1.1345, then 1.1316, however, loss of momentum would keep price above 1.1275 and yield rebound later.
On the upside, only above 1.1409 would revive bullishness for a re-test of 1.1420, break would extend towards 1.1473 before prospect of correction.
Pay attention to the release of EU PPI at 10:00GMT.
Street forecast for MM and YY are 0.3% n 2.9% vs prev. readings of -0.8% and 3.0% respectively.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates