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Euro looks vulnerable after German Economic Sentiment contracted in November – EUR/USD Market Outlook – 11/11/2020

SquaredFinancial

The Euro looks indecisive above 1.18 after the German Economic Sentiment contracted to 39 in November from 56.1 in the previous month. Renewed signs of German economic slowdown opens further downside risks to the single currency, however, price could bounce back towards 1.19 if the 1.18 support holds. Today, the focus will be on the ECB, as President Lagarde is expected to reiterate dovish bias.

Support: 1.18/ 1.17
Resistance: 1.19/ 1.1950

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/euro-looks-vulnerable-after-german-economic-sentiment-contracted-in-november-eur-usd-market-outlook-11-11-2020
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