AceTraderFx Apr 8: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK
Update Time: 08 Apr 2016 04:00 GMT
EUR/USD - 1.1371
Despite euro's brief rise above last Friday's high of 1.1438 to a fresh 5-1/2 month peak at 1.1454 in European morning, subsequent intra-day selloff to 1.1338 in New York morning signals MT uptrend has made a temporary top there and a few days of consolidation with mild downside bias would be seen.
However, reckon 1.1260/70 would hold and yield rebound later.
On the upside, a break of 1.1454 would bring further gain to 1.1495 but loss of momentum should limit upside to 1.1510/20 and yield retreat.
Update Time: 08 Apr 2016 04:00 GMT
EUR/USD - 1.1371
Despite euro's brief rise above last Friday's high of 1.1438 to a fresh 5-1/2 month peak at 1.1454 in European morning, subsequent intra-day selloff to 1.1338 in New York morning signals MT uptrend has made a temporary top there and a few days of consolidation with mild downside bias would be seen.
However, reckon 1.1260/70 would hold and yield rebound later.
On the upside, a break of 1.1454 would bring further gain to 1.1495 but loss of momentum should limit upside to 1.1510/20 and yield retreat.