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Euro showing signs of weakness

SquaredFinancial

Fundamental Highlights

The Euro rallied a bit during yesterday’s session but eventually gave back its gains showing signs of weakness, as traders preferred the greenback over the shared currency amid lack of macroeconomics data. Today’s German Economic Sentiment figures could confirm whether this recent bullish trend has further room to the upside or not. A weaker than expected data could increase concerns of a deeper economic slowdown in the Eurozone’s biggest economy, pushing the Euro below 1.13 and potentially even break the uptrend. On the other hand, the US will release the March Industrial Production figures and later on Fed’s Kaplan will be giving an update about the state of the economy but none of them will have a major impact on price.

SquaredDirect Review

Source: https://www.squareddirect.com/blog/technical-analysis/eur-usd-technical-analysis-16-04-2019
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