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AceTraderFx Mar 19: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time: 19 Mar 2020 03:30GMT
EUR/USD - 1.0933
Despite the single currency's selloff to a 3-week trough at 1.0803 yesterday on dollar's broad-based strength, subsequent rally to 1.0981 today on ECB's stimulus announcement suggests decline from March's 13-month peak at 1.1494 has made a temporary low there and further choppy trading above February's near 3-year trough at 1.0778 would continue with upside bias, however, 1.1044 should hold.
On the downside, only below 1.0821 would revive bearishness for a re-test of aforesaid support, break would extend marginally but 1.0778 should hold on 1st testing.
Data to be released on Thursday :
New Zealand GDP, Japan nationwide core CPI, nationwide CPI, all industry activity index, Australia employment change, unemployment rate, RBA interest rate decision.
Swiss exports, imports, trade balance, SNB interest rate decision, EU construction output.
U.S. current account, initial jobless claims, Philadelphia Fed manufacturing index, leading index, and Canada new housing price index, ADP employment change.
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AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
Update Time: 19 Mar 2020 03:30GMT
EUR/USD - 1.0933
Despite the single currency's selloff to a 3-week trough at 1.0803 yesterday on dollar's broad-based strength, subsequent rally to 1.0981 today on ECB's stimulus announcement suggests decline from March's 13-month peak at 1.1494 has made a temporary low there and further choppy trading above February's near 3-year trough at 1.0778 would continue with upside bias, however, 1.1044 should hold.
On the downside, only below 1.0821 would revive bearishness for a re-test of aforesaid support, break would extend marginally but 1.0778 should hold on 1st testing.
Data to be released on Thursday :
New Zealand GDP, Japan nationwide core CPI, nationwide CPI, all industry activity index, Australia employment change, unemployment rate, RBA interest rate decision.
Swiss exports, imports, trade balance, SNB interest rate decision, EU construction output.
U.S. current account, initial jobless claims, Philadelphia Fed manufacturing index, leading index, and Canada new housing price index, ADP employment change.
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