AceTraderFx Mar 15: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 15 Mar 2016 05:02 GMT
EUR/USD - 1.1106
Despite yesterday's decline from 1.1176 (New Zealand) to 1.1099 in Europe in reaction to setback by Germany's ruling CDU party in Sunday's regional election, then a brief breach of 1.1081 sup to 1.1077 (interbank low) in New York, subsequent rebound suggests consolidation with upside bias is in store, above 1.1176 would signal pullback from last week's high at 1.1218 (Thursday) has ended and yield gain towards 1.1250 later this week.
On the downside, only below 1.1058 (previous res, now sup) would risk stronger correction of upmove from last Thursday's post-ECB rate cut 1-month bottom towards 1.1019 (50% r) before prospect of a rebound.
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Update Time: 15 Mar 2016 05:02 GMT
EUR/USD - 1.1106
Despite yesterday's decline from 1.1176 (New Zealand) to 1.1099 in Europe in reaction to setback by Germany's ruling CDU party in Sunday's regional election, then a brief breach of 1.1081 sup to 1.1077 (interbank low) in New York, subsequent rebound suggests consolidation with upside bias is in store, above 1.1176 would signal pullback from last week's high at 1.1218 (Thursday) has ended and yield gain towards 1.1250 later this week.
On the downside, only below 1.1058 (previous res, now sup) would risk stronger correction of upmove from last Thursday's post-ECB rate cut 1-month bottom towards 1.1019 (50% r) before prospect of a rebound.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates