EURUSD Outlook: Euro Breakout Imminent
The euro fell against the US dollar again on Wednesday morning citing a significant shortfall in China's May trade balance - highlighting slowing global demand
In addition, German industrial production echoed similar sentiments due to lack of forecasts and heightened fears of a recession. The euro zone economic indicators also show a slowing economy through recent inflation and PMI data. The escalation in Ukraine is another negative for the currency that looks set to continue at least in the short term – favoring the safe-haven appeal of the greenback.
Already the ECB’s Schnabel has stated the central bank has more ground to cover, getting the aggressive ball rolling
The possibility that the EUR will grow strongly in the next time
EURUSD BUY 1.0685-1.0695💯💯
✅𝖳𝖯1 1.0735
✅𝖳𝖯2 1.0785
🛑𝖲𝖫 1.0635
In addition, German industrial production echoed similar sentiments due to lack of forecasts and heightened fears of a recession. The euro zone economic indicators also show a slowing economy through recent inflation and PMI data. The escalation in Ukraine is another negative for the currency that looks set to continue at least in the short term – favoring the safe-haven appeal of the greenback.
Already the ECB’s Schnabel has stated the central bank has more ground to cover, getting the aggressive ball rolling
The possibility that the EUR will grow strongly in the next time
EURUSD BUY 1.0685-1.0695💯💯
✅𝖳𝖯1 1.0735
✅𝖳𝖯2 1.0785
🛑𝖲𝖫 1.0635
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